GENERAL INFORMATION
Raceoption is a Forex and binary broker providing financial services internationally. Raceoption clients have access to a referral program and bonuses; the broker also regularly conducts trading competitions among all traders. The broker RaceOptions belongs to the Race Projects LTD.
RaceOption is part of the Finance Group Corp (FGC) and Suomen Kerren, LP. Both are registered in Vanuatu, though RaceOption itself is based in London. While these companies don't offer quite the same level of protection as regulatory bodies like FCA or CySEC, there haven't been many problems with them or RaceOption.
That also means you can trade more currency types if you decide to try forex trading.
The biggest problem with the lack of regulation is how unclear certain policies become. While RaceOption supports US traders, regulatory bodies in the US don't support RaceOption. Fewer regulations can also create a less reputable company, although, in RaceOption's case, many traders have had positive experiences.
ACCOUNT AND LEVERAGE
Trading conditions are the same for all traders, regardless of the selected account type. Raceoption has three accounts, plus a demo account. Trading is carried out on a web platform, so there is no need to install software on your computer. There is no commission for using the terminal or maintaining the account.
Bronze
On this account, traders have access to round-the-clock video chat support, a service for copying transactions, and opening a demo account. Withdrawals are made within 1 hour. The first deposit bonus is 20%.
Silver
With a minimum initial deposit of $250, you get access to standard features and it requires a much higher initial deposit of $1,000, but you get almost twice the features you'll see with a Bronze account. The owners of this account have access to round-the-clock support, a copy service, a demo account, as well as three risk-free transactions, and a master class. You can withdraw funds from your account within an hour, and the bonus to the first deposit will be 50%.
Gold
Along with your minimum $3,000 deposit, you'll get the maximum number of features and perks. Clients who have opened such an account have access to round-the-clock support, a service for copying transactions, a demo account, a master class, and and 3 transactions without risk. The trader also gets a personal manager. It will take up to 1 hour to withdraw funds, the bonus to the first deposit will be 100% of the amount deposited into the account.
The broker also provides its clients with the opportunity to open a free demo account to test their trading skills and test new trading strategies. To open a demo account, you need to create a real account, make a deposit and contact the companys employees to apply for a virtual account.
Also a resident of any country can open an account with Raceoption, regardless of whether he or she has experience in trading binary options, Forex assets, stocks, or other instruments.
All their trading instruments are available regardless of the type of account. The minimum deposit for all accounts is €/$250, and the leverage reaches 1:500.
The broker charges a commission of 0.07% of the position value for transferring a trading position to the next day (swap).
TRADING INSTRUMENTS
RaceOption has an impressive number of assets—over 150. The incredible variety has the potential to appeal to investors from all over the world, which helps RaceOption cater to more demographics. You have your pick between: currency pairs, stocks, cryptocurrencies, indices, commodities, and metals.
TRADING PLATFORM
The platform has a familiar feel. There is nothing to make it stand out from rivals. Regardless, it supports binary options trading as well as simple forex and CFDs in a manner suitable for newbies as well as more experienced traders.
The platform is very simple to use and is not cluttered with a lot of the frills and add-ons others use to dazzle traders. To the left is the asset listings, in the middle is the chart/screen for trading and to the right is the order area. Simply pick call or put, enter the trade amount, pick the expiry and hit enter. Easy peasy.
RaceOption uses a platform similar to the SpotOption platform, though they've changed it up a little. RaceOption's platform makes the trade interface even simpler by giving you access to everything you need all in the same space, without a convoluted layout.
You'll see how much you've invested in the top right corner of your screen. Right below it, you can add to that amount, see how much time you have left in your timed trade, and as you predict the market outcome, when it comes time to invest, you can't miss the bright call and put buttons near the bottom.
DEPOSIT AND WITHDRAWAL METHOD
Deposits are super easy and can be made by credit card, wire transfer, eWallet or even cryptocurrency. The site supports payments in BTC, ETH, LTC and other commonly traded tokens. Deposits are available nearly instantly except in the case of wires which may take up to a week to process.
The minimum withdrawal is only $50 and has no fees. The requests are processed within an hour and paid out as quickly as each method allows. Ewallets (Skrill, Neteller etc) and cryptocurrency are the fastest methods and may be returned to your account same day.
CUSTOMER SERVICE
One good thing with this broker is that, they are available 24/7 and have Phone, Chat, Email, also Video Support. They also arrange FAQ and tutorials and are Available in different languages.
