RaceOption Forex Broker Review

Introduction

RaceOption is a new online intermediary that engages in trading binary options and CFDs. It was created for the success of the international mass market. The site is accessible, innovative, and provides a full features web-based trading platform that does not require downloads and allows users to gain access to their accounts from any device. RaceOption provides high competitive returns and a wide variety of different products such as currency, cryptocurrency, shares, or commodities.

The company’s services are suitable for both beginners and advanced traders. So, it is obvious that RaceOption, despite being relatively young in the industry, promises to gain trust by being absolutely clear and responsive to clients 24/7. Based on the features listed above, RaceOption aims to create a reliable and convenient trading environment so as to empower traders to take advantage of opportunities safely and efficiently.

Account Types and Trading Conditions

RaceOption provides three main types of accounts tailored to different levels of experience and investment:

Bronze Account

• Minimum Deposit: $250
• Bonus: 20% deposit match
• Features: 24/7 live video chat support, demo account, copy trading tool.

Silver Account

• Minimum Deposit: $1,000
• Bonus: 50% deposit match
• Features: All Bronze features plus an account manager master class web sessions.

Gold Account

• Minimum Deposit: $3,000
• Bonus: 100% deposit match
• Features: All Silver features plus integrated technical analysis.

Trading Conditions

• Leverage: Up to 1:500, risk-of-high-trade opportunities.
• Spreads: Starting from 0.1 pips, it is one of the most competitive pricing available in the market for its traders.

Trading Platforms and Tools

For More Platform Types, You can check out other regulated forex brokers like Capitalix, SmartSTP and FX Road.

Platform Features:

• Accessibility: Fully online and mobile-friendly platforms.
• Usability: An intuitive interface with no software download is required.
• Tools: Economic and technical analysis tools are available within the platform.

RaceOption offers both binary options and CFD/forex trading, as users can easily change their focus of trading. The platform contains some quite modern features: it has a number of very useable charting tools based on live charts, it provides real-time financial data, and it also gives the simplest ways of trade execution that make the trading experience even better. It supports multiple classes of assets and includes a long list of any stocks, currencies, commodities, and indices.

This diversification allows traders to get involved in multi-varying activities from one place of trade. The RaceOption platform was created with simplicity and flexibility in mind, so anyone can easily use it, whether they are a novice or experienced trader, and look for a system that completely covers trading options.

Deposits and Withdrawals

Methods:

• Deposits: Credit cards, Bitcoin and Litecoin, Altcoins, Neteller, and Skrill.
• Withdrawals: Credit cards, Qiwi Wallet, Skrill, OkPay, Perfect Money, Neteller.
• Minimum Deposit: $250
• Minimum Withdrawal: $50
• Processing Times: Withdrawals are usually processed within one hour.

RaceOption emphasises using Bitcoin for both deposits and withdrawals, promoting faster transactions without any commission.

Customer Support and Education

The RaceOption client support is available through the entire hour of the day at any time through live video chat and supports all time zones. Traders are served directly by the support team by calling them on +442080685335 or +18299476393 for direct access to help. Although the broker has some educational resources, these are somewhat few and short and only include webinars and one-on-one trainings.

These sessions are usually for more experienced account holders and are designed specifically to hone trading skills with proper guidance and support. Although RaceOption has little academic content, it offers comprehensive ways of dealing with the global clients through its highly developed customer service features.

Regulation and Security

RaceOption is not regulated by any of the major financial authorities and, therefore, could be a cause of concern for risk-averse traders. Yet, it offers security in the following ways:

• Data protection: secure the operations with robust measures to protect the data.
• Account Verification: Forcing account verification to ensure safe trading.

Pros and Cons

Pros:

• Flexible trading options with high potential payouts.
• User-friendly online and mobile platforms.
• A range of account types with varying levels of support and resources.
• Fast processing of withdrawals.

Cons:

• Lack of regulation may deter some traders.
• Limited educational materials.
• Bonuses tied to high turnover requirements could encourage overtrading.

Conclusion

RaceOption is one of the entities that stand out in the industry as a digital options and forex brokerage that offers easy-to-use platforms and several trading options. This makes it very convenient and flexible for traders. This internet-based business enterprise gives its customers access to stocks, currencies, commodities, and indices, which provide many different strategies for trade. However, RaceOption does not have a direct regulation status, thus being a significant concern for any trader prioritising security and strict regulatory oversight. The absence of regulatory supervision has meant that there was less protection for client funds and no robust system of external accountability.

In addition, educational resources through the broker are somewhat limited, as most of the advanced training tools available are limited to higher-tier account holders. This might not necessarily help beginning traders learn to trade. On the whole, RaceOption is best for experienced traders who know the risks that come with trading with an unregulated broker and who are willing to trade off education and regulatory security in favour of ease of use and a high number of trading options.

FAQs

What is RaceOption?

RaceOption is an online broker that deals with trading in currencies and also stocks, commodities, other asset classes through binary options and CFD.

Is RaceOption regulated?

No, RaceOption isn’t a regulated brokerage by any of the major financial authority.

What types of trading can be done on RaceOption?

RaceOption offers both binary options and CFD/FOREX trading on its platform.

What kind of accounts does RaceOption provide?

RaceOption provides three account types, which are Bronze, Silver, and Gold- each with varied features, and entry requirements in terms of deposit.

What is the minimum deposit at RaceOption?

RaceOption demands that one makes a minimum deposit of $250 which also establishes a Bronze account.

What trading platforms does RaceOption support?

RaceOption uses proprietary, web-based software, meaning that it is accessible using multiple mobile devices.

How do I withdraw money from RaceOption?

Possible withdrawals at RaceOption are credit cards and e-wallets Skrill and Neteller, also cryptocurrencies like Bitcoin.

How many bonuses are there at RaceOption?

The bonuses of RaceOption depend on the type of account. It covers deposit bonuses within the scope of 20% to 100%.

Does RaceOption offer educational materials?

The educational materials at RaceOption are sparse and found mostly in webinars and one-on-one sessions that only those with the more expensive accounts have access to.

What are the trading hours at RaceOption?

The RaceOption trade offers 24/7 non-adjusted daylight savings trading. It’s available on weekends. That means members could trade when possible.