RaceOption is a London-based binary options broker founded in 2014. Traders from across the globe can trade options on its user-friendly trading platform. They offer a wide range of tradable assets, bonuses, and demo accounts. There is a RaceOption app available for both Android and iOS devices.
RaceOption Trading Platform
RaceOptions trading platform is easy to use and contains a trading interface and real-time price charts. The trading platform looks like SpotOption’s platform. You enter how much you want to invest and then click either ‘call’ or ‘put’ in the trading interface. RaceOption doesn’t have advanced features and isn’t suited for experienced options traders.
RaceOption Account Types
RaceOptions offers tiered accounts. Each of these accounts gives traders access to different features. In the table below you can see the differences between RaceOption account types.
|Bronze Account||Silver Account||Gold Account|
|1 hour withdrawals||1 hour withdrawals||1 hour withdrawals|
|+20% bonus||+50% bonus||+100% bonus|
|Trading course||Trading course||Trading course|
|Demo account||Demo account||Demo account|
|Master class web session||Master class web session|
|3 risk free trades||3 risk free trades|
|Trading protection||Trading protection|
|Swiss prepaid card|
|Individual account manager|
The minimum deposits required to open these account types are $250, $1,000, and $3,000 for bronze, silver, and gold. The gold account type comes with integrated technical analysis.
RaceOption Trade Types
Users can trade high/low options, 60-second options, ladder/pair options, one-touch options, and long-term options at RaceOption.
High/low options: With these simple binary options you predict whether the market will be higher or lower within a timeframe. You get paid out if you’re right or lose your money if you’re wrong.
60-second options: These are binary options with a 60-second timeframe.
Ladder/pair options: With ladder or pair options you predict whether the price of an asset will end up within a certain range of price points. The payouts are lower than with binary options, but it is easier to predict.
One-touch options: With one-touch options, you predict a single price target the asset will have to reach (touch) within the timeframe.
Long-term options: These are binary options with an expiry rate of a week or longer.
Users can trade over 150 assets on RaceOption, including forex, stocks, indices, and commodities. RaceOption doesn’t offer cryptocurrency trading.
RaceOption Payouts and Trading Conditions
RaceOption’s payouts range between 60% and 90%. The minimum trade size is $1 and the maximum trade size is $1,500. Users can use the sell-out feature to close trades before the end of the allotted time limit to receive a partial refund.
RaceOption is unregulated. The Finance Group Corp (FGC) and Suomen Kerren, LP manage RaceOption from Vanuatu, and RaceOption itself is London-based. Both companies aren’t regulated by the FCA, CySEC, or other regulatory bodies. RaceOption accepts US traders.
RaceOption Bonuses and Promotions
New RaceOption users receive a bonus upon their first deposit. The height of this bonus depends on the amount deposited. In the table below you can see how much bonus RaceOption gives. RaceOption can offer its users bonuses and promotions because it is unregulated.
When you open a Silver or Gold account with RaceOption, you also receive 3 risk-free trades. With these trades, you get bonus money added to your balance if your predictions are wrong. RaceOption organizes trading contests monthly. The top 40 traders will win prizes ranging from $100 to $10,000.
RaceOption Mobile Trading
RaceOption has a trading app available for both Android and iOS devices. This app has the same features as the desktop trading platform.
RaceOption Demo Account
Users can practice binary options trading with RaceOption’s demo account. This is great for beginners and experienced traders to familiarize themselves with RaceOption’s trading platform.
RaceOption Deposits and Withdrawals
Users can deposit funds into their RaceOption account by credit card, bank wire transfer, e-wallets, or cryptocurrency. The minimum deposit is $250 and RaceOption charges a 5% fee for credit card deposits. RaceOption processes withdrawals within an hour, which is faster than most other binary options brokers.
RaceOption Customer Support
RaceOption’s customer support is available 24/7 by live chat, phone, and email. You can also contact them via their social media channels like Instagram, Facebook, and Twitter.
RaceOption Pros and Cons
- User-friendly trading platform
- Bonuses and trading contests
- Available to everyone
- Over 150 assets
- Fast deposits and withdrawals
- 24/7 customer support
- No demo account access before initial deposit
- High minimum deposits
- No cryptocurrencies
RaceOption accepts traders and investors from the United Arab Emirates. Note that you have to go through a KYC process when you want to withdraw funds from RaceOption.
RaceOption Review – Our Verdict
RaceOption is a reputable binary options broker with an easy-to-use trading platform. It is nice that they offer bonuses and organize trading contests. The downside is that RaceOption is unregulated.