RaceOption Review

0
Regal Wallet Banner

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-review
  • Regulation: Finance Group Corp
  • Trading Platform: SpotOption
  • Trade Types: High/Low, 60 Seconds, Ladder/Pair, One Touch, Long-Term
  • Payouts: 90% MAX
  • Mobile Trading: iOS and Android
  • Assets: CFDs, Forex, Indices, Stocks, Commodities
  • Demo Account: Yes
  • Payment Methods: Credit Cards, Debit Cards, E-Wallets, Cryptocurrency
  • Minimum Deposit: $250
  • Withdrawal Processing: 1 Hour
  • Bonus: 20-100% Deposit Match

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 AccountSilver AccountGold Account
1 hour withdrawals1 hour withdrawals1 hour withdrawals
+20% bonus+50% bonus+100% bonus
Trading courseTrading courseTrading course
Demo accountDemo accountDemo account
Master class web sessionMaster class web session
3 risk free trades3 risk free trades
Trading protectionTrading 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. 

RaceOption Assets

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 Regulation

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. 

Deposit AmountBonus
$25020%
$1,00050%
$3,000100%

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-deposits-withdrawals

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

ProsCons
User-friendly trading platformUnregulated
Bonuses and trading contestsNo demo account access before initial deposit 
Available to everyoneHigh minimum deposits
Over 150 assetsNo cryptocurrencies
Fast deposits and withdrawals
24/7 customer support

UAE Investors

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. 


Methodology
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best online brokers. Trading platform, fees, mobile trading, payments, assets, regulation, education, and research are all part of our six-month evaluation of a broker’s trading platform. The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online brokers we reviewed. Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Disclaimer
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

Previous articleHow To Buy NFT (Non Fungible Tokens) in UAE?
Next articleBinaryCent Review
Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.

LEAVE A REPLY

Please enter your comment!
Please enter your name here