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Raceoption Review 2024

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Raceoption Review 2024
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Investing and trading in financial markets such as the stock exchange, forex, digital currencies in the form of spot or with leverage face a high inherent risk. According to the statistics of all exchanges and brokers, more than 75% of people lose!

Overview
Company:Raceoption
Founded:2014
Regulation:
OTC:
Forex Trading:
Assets:100
About
Raceoption, a Binary Options broker launched in 2014, handles over 150,000 daily orders and offers up to 98% returns with a $0.01 minimum order size. This review covers the broker's pros, cons, and registration process to assess its effectiveness in meeting traders' needs.
Contact
Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960
Rank and Score
Account Types
Markets
Account NameMin DepositMax Return

Raceoption is a binary options broker launched in 2014 that serves more than 150,000 daily orders. This company aims to provide traders with an ideal platform by offering up to 98% maximum return and $0.01 as minimum order size, but has it been successful in this achieving this goal? In this Raceoption review, you will read about the pros & cons, specifications, and registration at the motioned broker.

Raceoption company information

Raceoption
A comprehensive review of Raceoption binary options broker

Raceoption, established 10 years ago, is a binary options and cfd broker that has quickly gained attention in the trading community. Owned by race projects ltd., headquartered from the marshall islands, this broker aims to provide a seamless trading experience to its growing client base. Here's what you need to know about Raceoption:

  • Offers access to over 100 binary options and cfd instruments
  • Provides copy trading functionality for less experienced traders
  • Hosts weekly trading contests with substantial prize pools
  • Boasts fast funding and withdrawal processes

Summary of specifications

To give you a clearer picture of what Raceoption binary option broker offers, let's break down its key specifications:

Broker

Raceoption

Account Types

Bronze, Silver, Gold

Establishment Year

2014

Trading Platforms

Proprietary Platform

Maximum Return

98%

Minimum Deposit

$250

Base Currencies

USD, EUR, RUB, GBP

Deposit Methods

E-Payments, Bank Transfer, Cryptocurrencies, Credit/Debit Cards

Withdrawal Methods

E-Payments, Bank Transfer, Cryptocurrencies, Credit/Debit Cards

Minimum Trade Amount

$0.01

Maximum Trade Amount

$100,000

Tradable Assets

100+

Investment Options

Turbosavings, Copy Trading

Bonus

Welcome Bonus, Reload, Risk-Free Trades, Contests, Giveaway

Spreads

From 1 Pip

Commission & Fees

Withdrawal Fee On Payments Via Visa, Inactivity Fee, Swap Fee

Maximum Leverage

1:500

Affiliate Program

Yes

Trading Features

Rollover, Double Up, Tradeback, Sell Trade

Inactivity Fee

$10 Per Month

Customer Support Ways

Email, Phone, Live Video Chat

Customer Support Hours

24/7

Trading accounts variety

Raceoption Account Types
Raceoption offers Bronze, Silver and Gold accounts to traders.

Raceoption caters to traders of various experience levels and budgets by offering three distinct account types:

  • Bronze: for deposits between $250 and $1,000, with up to 20% bonus
  • Silver: for $1,000-3,000 deposits, with up to 50% bonus, master class, first 3 risk free trades
  • Gold: from $3,000 deposits, up to 100% bonus, first 3 risk free trades, personal success manager

Each account type offers progressively more features and benefits, with the gold account providing the most comprehensive package. Meanwhile, all of them offer demo trading with virtual money.

Account registration and verification guide

Getting started with Raceoption is a relatively simple process. Here's a step-by-step guide to help you open an account:

  1. Visit the official Raceoption website and click on the "sign up" or "register" button.
  2. Complete the sign up form with your personal data, including full name, email address, phone number, country of residence, and preferred currency.
  3. Create a safe password for your account.
  4. Read and accept the terms and conditions and privacy policy.
  5. Click "create account" to complete the pre-registration stage.
  6. Check your inbox, and click on the received link to verify your email address.
  7. Log in to your newly created account.
  8. Complete the verification process by submitting clear photos of the required documents.
  9. Wait for the verification process to be completed, which typically takes 1-2 business days.

Bonuses & promotions

Raceoption Bonus
Raceoption has 20, 50 and 100% deposit bonuses.

Raceoption offers a range of bonuses and promotions to attract and retain traders. However, it's essential to approach these offers with caution and fully understand the terms and conditions attached. Here's an overview of the main bonuses:

  • Welcome bonus: up to 100% on initial deposits, depending on the account type.
  • Reload bonus: available on subsequent deposits, percentage varies.
  • Risk-free trades: on silver and gold accounts, first 3 traders are risk-free.
  • Weekly trading contests: prizes up to $20,000 for top-performing traders.
  • Giveaway: apple watch series 9, iphone 15 pro, ipad pro, and imac as giveaway prizes for traders

Commissions & fees

Understanding the fee structure is critical when choosing a broker. Here's a breakdown of Raceoption's main fees and commissions:

Commission on trades

$0

Spreads

Variable, starting from 1 pip

Overnight fees

0.07%  on position value

Inactivity fee

$10 per month after 30 days of inactivity

Withdrawal fee

None (except visa, 5%)

Personal cabinet

Raceoption personal cabinet
Raceoption personal cabinet & trading platform overview

The personal cabinet on Raceoption binary options broker serves as the trader's central hub for managing their account. Key features include:

  • Account overview and balance information
  • Deposit and withdrawal functionality
  • Turbosavings and copy trading available
  • Trading history and performance analytics
  • Settings for account preferences and security
  • Ready-to-use technical analysis
  • Help center
  • Market chart with access to tradingview charts
  • Indicators and oscillators on candlestick and tradingview charts

Indicators and oscillators

Raceoption's proprietary platform provides a limited selection of indicators on its proprietary chart. However, there are more tools available on the embedded tradingview chart at the personal cabinet. These include:

  • Moving averages (simple and exponential)
  • Bollinger bands
  • Relative strength index (rsi)
  • Moving average convergence divergence (macd)
  • Stochastic oscillator
  • Commodity channel index (cci)
  • Parabolic sar
  • True strength index
  • Volume oscillator

Raceoption payment methods

The platform offers a variety of payment methods via different companies and organizations. Raceoption payment options:

  • Credit/debit cards (visa, mastercard)
  • E-wallets (skrill, neteller)
  • Cryptocurrencies (Bitcoin, Ethereum, Litecoin)
  • Bank wire transfer

Key points about payments:

  • Minimum deposit: $250
  • Withdrawal processing time: within 1 hour for most methods
  • Bank wire transfers may incur additional fees and longer processing times

Does "Raceoption" offer copy trading?

The broker does offer copy trading functionality, which can be particularly appealing for novice traders or those looking to diversify their strategies. Here's what you need to know about Raceoption's copy trading feature:

  • Available across all account types, including the bronze account
  • Accessible through the personal cabinet on the trading platform

Trust scores on rating platforms

This part of the Raceoption review is about ratings. When evaluating a broker, it's essential to consider their reputation in the trading community. The broker's trust scores and ratings present a mixed picture, and some of them do not sound as promising as competitors' ratings:

Raceoption users score on trustpilot
Raceoption has achieved an average score on Trustpilot
  • Trustpilot users score: 3.7 out of 5, "average", based on over 60 reviews

Interesting fact about the Trustpilot ratings is that around 70% of the scores are 1/5.

Customer services & support

Raceoption Support
Raceoption support is available in 5 languages.

Customer support can make or break a trading experience, especially when dealing with financial transactions. "Raceoption" offers the following support channels:

  • 24/7 live chat
  • Email: [support@Raceoption.com]
  • Phone: [+18299476393], [+442080685335], [3-395-0396], [081-855-7055], [+7-499-7033774]
  • Faq section

Also, you can contact the platform's team through its social media accounts on twitter and instagram.

TF Writer's opinion and conclusion

As a binary options broker, Raceoption offers a range of services and tools, including up to 1:500 leverage, weekend trading, and up to 100% deposit bonus. These, along with the remarkable statistic of an average of more than $1,400 daily income for traders, make it an attractive option. However, its trustpilot rating of 3.7/5 may raise some skepticism. It's important to remember that trading with any broker carries the risk of capital loss, so it's your responsibility to conduct thorough research before making any transactions.

FAQs
Is Raceoption a regulated broker?

No, the broker is not regulated by any major financial authority.

What is the minimum deposit on Raceoption?

The minimum deposit is $250 for a bronze account.

Does Raceoption offer a demo account?

Yes, the platform provides a demo account for practice trading.

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