The binary options industry has reached a point of stability when the number of new broker registrations has begun to plateau. Several regulatory limitations, scammers, the government’s perspective, and even low investor confidence have all played major roles in the market’s steady collapse. Regardless, there are still a number of binary options firms that provide a trustworthy and legitimate service.
Investors’ perceptions of their investing methods are changing in the binary options market. While there are firms, brokers, and speculators that attempt to earn huge gains from binary options trading, new laws and more trader knowledge have helped to reduce the number of financial frauds that plague the sector. Several governments and authorities have stepped up to prevent firms from taking unfair advantage of investors, which has gone a long way toward restoring binary options trading’s reputation as a reputable financial instrument.
Raceoption is solely among the most recent entries in the market with an exceptional binary options brokerage.
Race Option overview
Raceoption is a new binary option and contract for difference (CFD) broker. This internet broker is situated in the Marshall Islands and is registered there. Makerun Corp., a corporation with its registered office at the Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, is the name under which they operate. It is an unregulated offshore binary option and CFD broker that is not regulated by CySEC or the FCA.
Raceoption is a UK-based firm with a very user-friendly trading interface and a thorough grasp of the binary options trading environment’s technical needs. They are one of the few brokers that allow US customers and trade across all countries. They were founded in 2014 and are located in London.
Raceoption Binary Options platform
RaceOption’s trading platform is traditional and comparable to those of other brokers. Their platform does not set them apart from their rivals. This broker, on the other hand, allows you to trade binary options, forex, and CFDs using a platform and functionalities that are ideal for both newbie and experienced online traders.
The trading platform is simple, straightforward, and intuitive, with a focus on the basics. There are no choices or add-ons that might make your trading experience more confusing or disrupted.
The list of assets, the chart/trading screen, and the order area are all located on the left side of your screen. To trade, just input the amount of the transaction, choose the expiration date, and click the Call or Put button.
You’ll also discover some extra features there, such as the ability to sell anything right away. These tools allow you to extend the time on pending transactions (for a charge) or sell before the expiration date to profit or decrease your losses.
For some traders, RaceOption’s trading platform’s excessive simplicity is a disadvantage. When it comes to charts, there are very few options, and it lacks the tools and indicators that other brokers give. However, some traders disregard its significance and rely on other charting tools such as those supplied by major trading platforms such as MetaQuotes Software’s MetaTrader 4.
At RaceOption, you may trade three different types of binary options: turbo options, long and short-term options. Turbo options are binary options contracts that expire in 30 to 120 seconds. Short-term options are contracts that have expired for intra-day sessions, whereas long-term contracts are options contracts that have medium- to long-term expirations.
Simply said, Raceoption’s account types are a mix of the most popular services among traders. Rather than offering a wide range of accounts ranging from the most basic to the most exclusive VIP account with all the bells and whistles, they provide traders the option of choosing between Bronze, Silver, or Gold. To round out their account offerings, Raceoption offers a free Raceoption demo account upon request, so just be sure to inquire and try this out before investing real money.
- Bronze account
The Raceoption Bronze Account needs a $250 initial deposit. It includes a 20 percent bonus, a trading school that includes a book and video, and a demo account, all of which are appropriate for most traders. All Raceoption trading accounts come with 1-hour withdrawals as standard. You will receive a free gift in addition to your match deposit bonus when you register an account.
- Silver account
You can open a silver account with a $1,000 deposit. A Silver Account has a bonus possibility of 50% and above, as well as all of the features of a Bronze Account plus a fantastic online session. The first three trades are risk-free and are protected. In fact, the Raceoption Silver Account is the most popular trading account among its customers.
- Gold account
The Gold Account is the pinnacle of their trading accounts, featuring all of the features of the Silver and Bronze Accounts plus many more. A minimum deposit of 3,000 dollars is required to create a Gold Account, with a maximum deposit of $50,000. With a Gold Account, you’ll have access to an account manager who will assist you with your trading needs.
With a wide selection of binary options accessible, including forex, commodities, cryptocurrencies, indices, and shares, the choice of 160 distinct financial instruments should be able to keep most expert traders happy. However, traders in the United Kingdom are now banned from using cryptocurrencies. This asset selection is consistent with the FGC group of brokerages, and the business has made no changes to the instrument selection.
Bonuses and promotions
Raceoption’s incentives depend on the type of account that is established and might change. When you open a bronze account, you will get a deposit bonus offer of 20% or more, but when you open a gold account, you can get a deposit match bonus of 100% or more.
Other incentives, like rewards when you create a Raceoption account, are available in addition to bonuses. A weekly free contest with a prize pool of $20,000 is also run by the broker.
A lucky trader may earn up to $5000 in prize money, plus they’re covered by three risk-free trading insurance policies, making this one of the finest promotional offers available right now.
While bonuses may appear to be a substantial benefit at first, traders should be aware that brokers have the ability to apply any bonus trading condition they see fit. Indeed, bonus terms and restrictions have frequently caused misunderstandings and disagreements between brokers and traders, so you should be cautious while selecting a Raceoption bonus. Several trading and withdrawal limitations apply to the broker, which may not be appropriate for all traders.
Demo account for Raceoption
Every account user at Raceoption has access to a limited demo account, which you can access after the initial deposit is made. For demo access, traders must first create an account and invest funds into it; however, if they are unhappy with the services, they can always request a withdrawal. Of course, don’t choose a deposit bonus or a risk-free trade bonus until after you’ve traded on the demo account since this might make it easier for you to withdraw your funds. The broker permits traders to forgo their bonus and enjoy unlimited withdrawals for up to three days, but traders should not trade during that time.
Raceoption’s design layout looks to be quite similar to Finrally, which may make it feel familiar to certain users. Raceoption and the Finrally binary options platform are both owned by the Finance Group Corp. Therefore, they are operated under the same banner (FGC). Raceoption was first presented in 2017 by Race Projects Ltd., a Seychelles-based company. FGC, on the other hand, is based in Vanuatu and is a subsidiary of Suomen Kerran LP, which operates a number of binary options sites across the world that provide the same or comparable services. Suomen Kerran LP is also a Scottish business, bringing it inside the regulatory umbrella of the United Kingdom.
In terms of regulatory security, Raceoption may not be the greatest broker outright since we typically advocate dealing with brokers licensed by authorities such as the FCA or the CySEC. Although European brokers are more regulated, provide more comprehensive services, and have greater financial stability, we have learned to trust brokers from other nations largely because of their service quality and commitment to client care. We’ve also had a good experience with Suomen Kerran LP since the company’s whole binary options properties are recognized for providing the best binary options products and services with very few bad customer reviews.
Another benefit of trading with a firm based in a place like the Seychelles or Vanuatu is that they may provide greater bonuses, reduced trading fees, and more trading flexibility. These brokers are also unrestricted by any regulatory limitations, allowing them to provide traders with the superior trading circumstances they anticipate. Despite the fact that Raceoption lacks a solid regulatory licensing, we anticipate them to provide dependable service, and we can rely on their most favorable reputation.
Can I use Raceoption in the US?
The broker’s policy regarding traders from the United States is a little hazy. Raceoption is neither licensed nor approved by US regulators, making it impossible for the firm to provide services to US traders. This is also stated in the broker’s terms and conditions, although it’s worth noting that the business has given helplines for its US consumers. However, we would advise US individuals to exercise caution while dealing with foreign brokers, as the United States’ existing regulations prohibit unlicensed binary options trading.
As a late entry into the binary options trading industry, it’s no surprise that Raceoption came in with its eyes wide open to what traders desired. This is evident in their online trading platform, which not only caters to PC customers but also includes a simple, mobile-friendly trading alternative.
There is also a mobile app accessible on the Apple Google Playstore, in addition to a fully responsive mobile site. The mobile software has been thoughtfully developed to provide the trader with the best possible trading experience, and it functions perfectly on all devices, including IOS and android (iPhone and also iPad).
Deposits and withdrawals on Raceoption
You may simply make deposits and withdrawals on Raceoption using a variety of payment options, including credit card, bank transfer, a big electronic wallet, and cryptocurrencies. The site accepts BTC, ETH, LTC, and a variety of other major cryptocurrencies for deposits and withdrawals. Apart from traditional bank transfers, which can take up to a week to process depending on your bank and its middlemen, deposits and withdrawals are exceptionally fast.
The minimum deposit at Raceoption is $ 250, and the minimum withdrawal is $ 50 with no costs. The fastest payment options to make deposits and withdrawals with this broker are electronic wallets and cryptocurrency payments. You may anticipate having your money in the bank the very same day you request payments using these ways.
- High/Low Trades
Probably the most well-liked option. The Call/Put option, commonly known as the High/Low option, is simple to use. Simply determine whether the asset will rise or decline over a certain period of time.
- 60 Second Trades
These trades need a consistent approach, a high degree of focus, and the ability to respond quickly to trading possibilities. They are merely 60 second or one-minute expiry periods, so you don’t have much time to identify and take the opportunity.
- Ladder/Pair Trades
Ladder trades, in which the different price points are evenly spaced, indicate that there are several possibilities to produce outcomes. Hitting any of the price levels before the expiration period will result in returns, but none will be as high as reaching the highest price point.
- One-Touch Trades
Another simple trading strategy is the One Touch option; it is not the basis of whether you predict your selected asset will touch a target price earlier than the expiration time.
- Long Term Trades
Whilst most trades are made over a brief span of time, such as 60 seconds to an hour, with Long Term trading, the trader makes predictions about what will happen to the asset prices over the course of a week or more. Long-term investments need patience since returns take longer to appear.
Raceoption payouts & fees of trading
Raceoption features some of the finest trading conditions with a modest minimum transaction investment of $1. Raceoption advertises a stunning payoff of up to 90% for in-the-money transactions, despite the loosened trading requirements, but practically, the broker gives approximately 60% to 90% payouts for normal binary options. In terms of products, there are short-term, intra-day, and long-term options available for over 160 assets, making it simple for traders to find a binary option that matches their trading interests.
However, we anticipated the firm to provide more high-yield choices like Ladder and Touch, which might have resulted in larger earnings, although Raceoption does have some fascinating ordinary options in its roster.
A large percentage of brokers do not charge any trading fees, and Raceoption is no exception. Raceoption, on the other hand, shocked us by allowing us to be more versatile with our trading methods. Raceoption is one of the few brokers that provide trade management, which allows traders to cancel deals early or prolong them according to market conditions.
Does Raceoption have a rollover Option?
Suppose a transaction does not conform to your position during your initial contract duration. In that case, the double-up feature allows you to double your investment, while the rollover function allows you to extend the expiration time. The early sell-out option may also be utilized to exit deals at a lower loss, ensuring that Binary Options can be traded in the same way that other financial instruments are.
Raceoption has a number of significant features. We could certainly spend most of this review focusing on their distinct features, which may be attributed to their recent introduction. While other brokers that joined the market initially had to adapt as they went and keep up with a quick technology environment, Raceoption was able to step back, assess the situation, and bring a product to the market that they knew traders wanted.
Their web page is well-designed, simple, and user-friendly. The mobile platform provides access to all trading methods, and the platform’s flexibility, account kinds, payout, and other features make it a viable player in the binary options trading field.
In addition to all of their other services, they provide an education center and demo accounts, making them a broker with a wide range of opportunities. However, perhaps their most distinctive feature is that they recognize US traders, which is uncommon in the present market due to the stringent US restrictions, and that they provide 1-hour withdrawals. Let’s be honest, who wouldn’t want their money transferred in less than three days?
From the start, it’s clear that Race Option provides a high level of customer service, whether on the desktop version or on a mobile app. A pop-up chat window opens as soon as you enter the site, asking whether you need any assistance.
Many websites require you to travel to the end of the page to find the tiny “contact us” link. Still, Raceoption’s contact information is prominently displayed in the top left corner of the site and including choices to initiate a live chat with a customer care representative. This ease of communication also adds to their broker’s dependability and credibility.
The broker’s customer support network would undoubtedly be highlighted by the live chat function since the firm employs a team of specialists to communicate with traders via a live video chat interface. The live support is available 24 hours a day, seven days a week, and can also be reached by phone or using a web contact form, but virtually all traders have said that the live video chat function is the greatest way to obtain thorough help from the firm. All account problems and inquiries are handled in a matter of minutes.
Pros and Cons
- One of the most effective platforms available.
- Live video chat customer support is available 24 hours a day, seven days a week.
- The payouts can be as significant as 90%.
- Deposit bonuses of up to 100% are available, as well as trading competitions.
- There are three risk-free trading insurance options.
- A fantastic selection of financial products is available.
- 1-hour withdrawals
- Traders from countries with stringent regulatory frameworks are not accepted.
- Not as safe as the other brokers available.
- Only verified clients are eligible for a demo account.
Is Race Option trustworthy, and will they defraud me?
Raceoption, like all of the binary options brokers, is legal, regulated, and has the necessary licensing.
Is there a good mobile or tablet app for Raceoption?
Raceoption is a newcomer into the binary trading market, promising the best of the lot. Their site is highly sophisticated, allowing traders to have the greatest possible encounter. And yes, they offer a very simple and advanced mobile app for their users.
Is there a copy trading tool available at Raceoption?
Yes, all account holders have access to a copy trading feature that allows them to replicate transactions from more accomplished traders.
How do I withdraw money from Raceoption?
Credit cards (VISA/MasterCard), bank wire transfers, Bitcoin, Ethereum, Litecoin, Altcoins, Neteller, Skrill, and Perfect Money are all options for withdrawal. Transfer fees are not charged by Raceoption. A third-party fee, however, may be charged.
Here’s where we’ll wrap up our Raceoptions evaluation. We scan the internet for complaints and allegations of rip-off schemes like we always do. We also put the brokerages to the test to see how they work. We discovered nothing to be concerned about during our dynamic evaluation process, and all evidence points to a legitimate broker that deals with things the correct way.
Raceoption is a highly effective and dependable binary options platform, allowing traders to play the markets with the assurance of competitive rewards and a wide range of assets.
Raceoption is clearly serious about business, and their all-around service to investors has established them as a major contender in the binary options industry. From the simplicity of use of their trading interface to the favorable withdrawal conditions, it’s hard not to believe that this broker will see significant growth in the near future. It’s no wonder that they’ve had so much support and success here so far.
They tick all the boxes and have everything that a trader is searching for, with a headquarters in London, a respected license, acceptance of US consumers, a superb trading platform, and plenty more offers.