Binary options are prohibited in the European Economic Area. Between 74-89 % of retail investor accounts lose money when trading CFDs.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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RaceOption Broker Review

  1. Launched in 2017, Raceoption is a modern Binary Options and CFD broker. It offers an electronic platform for trading Binary Options and CFDs in stocks, Forex currency pairs, 3 types of crypto currencies, indices and commodities. Features seen at Raceoption include a copy trading tool, guaranteed 1-hour withdrawals and weekend trading.

    Raceoption is operated by Race Projects Ltd, a company registered in the Seychelles. Race Projects Ltd operates on behalf of FGC, the holder of the financial services license. However, we did not see details of the license on the Raceoption website.

  2. Account Features

    Customers registering an account with Raceoption have a choice of three account types, Bronze, Silver and Gold, requiring incremental minimum deposits. Each trading account comprises of a package of popular features and services demanded by traders. Significantly, customers get more bonuses and advantages by investing higher amounts in a trading account. Notably, a Demo account is incorporated into each account type for simulated trading. However, before getting Demo account credentials from customer support, customers must fund their accounts with the minimum amount indicated. An important feature for every trading account at Raceoption, is that withdrawal requests are processed within 1 hour.

    RaceOption Bronze Account

    A minimum deposit of $250 is required to open the Bronze account. Customers get access to the trading platform, a Demo account for virtual trading, the copy-trading tool and 24/7 live video-chat.

    RaceOption Silver Account

    With a minimum deposit of $1,000, customers can open a Silver account giving them access to the trading platform, the copy trading tool and 24/7 live video-chat support. Additionally, they get a Master class web session explaining trading in financial markets and a personal account manager.

    RaceOption Gold Account

    It requires a minimum deposit of $3,000 to open the ultimate Gold trading account at Raceoption. Customers get all the benefits and advantages offered to Silver account holders described above, as well as integrated technical analysis providing guidance for trading decisions.

    RaceOption Fees and Commissions

    We saw that Raceoption does not charge commissions or fees on most CFD trades but takes its revenue from the spreads shown on the website for underlying assets. Subsequently, the amount indicated in the payout box on the trading platform is what is credited to the customers’ accounts. Raceoption reserves the right to charge swap fees on the face value of open overnight positions at a rate of 0.07%. Significantly, traders opening unleveraged positions for trading in CFDs for Crypto currencies are charged between 1% and 2.5% of the value of the transactions. However, the commission for leveraged CFD trades in Crypto is much higher at 5%.

    RaceOption Bonus

    New and existing customers at Raceoption, may be offered attractive reward features such as 100% bonuses, risk-free trades and trading credits worth up to $100,000 per year at various times. It’s important to realise that gift offers are always conditional, and clients have up to 3 days to reject them if they don’t wish to accept the promotional terms.

  3. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
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  5. Trading Software & Assets

    One very popular user-friendly, trading platform is available to traders at Raceoption. It comes in 3 versions: a simple, web-based platform and two ‘one touch’ mobile platforms for Android and iPhone. The platforms offer 160+ assets for Binary Options and CFD trading in Forex, Commodities, Stocks, Indices and Crypto currencies. Notably, Binary Option trading is the default setting on the platform. For customers wishing to trade in CFDs, a trading tab with the letters CFDs is positioned on the top of the trading platform. We noticed that Raceoption does not have a blanket policy about minimum and maximum order size, but shows specific details for each type of CFD on the trading platform. Leverage up to 1:100 is available to customers and a minimum maintenance margin of 5% of initial investment is required to keep any position open. We found the set-up of the platform especially straightforward, with drop-down menus for assets and expiry times, asset charts, buy and sell buttons for choosing trading direction and a payout box showing percentage profit based on the amount of money invested. A copy-trading tool allows customers to automatically copy trades made by successful traders at Raceoption.

    Mobile Platform

    Importantly, the free mobile apps are packed with multiple features and are accessed with the same login procedure as the web-based platform. With the Raceoption mobile apps, customers can go directly to their accounts, access their portfolios, follow their trade history, open all the live charts for CFDs shown on the web-based platform and execute regular CFD trades instantly. They can also execute Binary Options trades on the mobile platforms.

    Education

    The education section at Raceoption is divided into several categories. They include information for setting up a trading account, promotional offers and how to trade Binary Options and CFDs on the trading platform. We found the explanations clear and easy to follow, making it straightforward for traders in the learning phase to get started at Raceoption.

    RaceOption Assets

    The web-based trading platform gives customers the opportunity to invest in more than 160 assets, 7 days a week from any device including Mac, PC and smartphone.

  6. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  7. Support Information

    An multi-lingual live support, with video-chat is provided 24/7 for all registered customers at Raceoption. In addition to the live chat on the interface, 5 telephone numbers for global support are listed on the contact page. Customers preferring to make email enquiries, need only fill in a prepared form for a rapid response.

  8. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  9. Banking & Company Information

    A diverse selection of secure payment methods is supported by RaceOption including three Crypto currencies. The list of payment methods includes Visa, Visa Electron, Neteller, Skrill, Perfect Money, Ethereum, Altcoins and Bitcoin. We saw that customers may also choose to deposit and withdraw funds using bank wire transfer but pay a fee of $50 to RaceOption for each transaction.

    Clients opening a live trading account at RaceOption can choose to operate the account in USD or EUR. Deposits made in other currencies are converted to a base currency, with conversion fees charged to the customer. We were pleased to see that the minimum withdrawal is as low as $50 and transfer fees on deposit and withdrawals are not charged by RaceOption. However, customers using Visa and Visa Electron are charged a fee of 5% by the payment provider.

    Whilst RaceOption processes withdrawal requests within 1 hour when all the client verification documents are in order, the time taken for funds to reach customer accounts can be as long as 5 days depending on the kind of payment method selected by the customer. Significantly, traders using Crypto currency and E-Wallets to transfer funds, are paid as soon as processing is complete.

  10. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    • FREE $10,000 demo account
    • Award-winning trading platform
    • Licensed and regulated broker

    Trade with an
    award-winning broker
    like IQ Option

     

     

    Between 74-89 % of retail investor accounts lose money when trading CFDs
    11. Your capital is at risk

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