This broker was not featured in our 2020 Broker Review Audit. This is because, in the past 12 months, it has failed to pass our initial screening process and is not recommended by our team of experts. As such some of the information found here may be out of date.
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The binary options market has reached an equilibrium, where the market has started to witness a plateau in the number of new broker registrations. There are various factors that have led to the gradual decline in the market, as several regulatory restrictions, scam operators, Government outlook, and even low investor confidence have played their parts in a significant way. Regardless, there are still numerous binary options companies that operate a reliable and authentic service, and Raceoption is one of the brand-new entrants to the market that has an excellent binary options brokerage in the market.
Raceoption offers its services through a tried and tested platform that follows on from the other successful brokerages that the company has owned in recent years. In some ways, Raceoption may be considered as a rebranded and revitalised version of an existing brokerage that took note of its customers’ feedback to create a trader-centric binary options brokerage. It is absolutely imperative for a company to cater to the general consensus, as developing a product around the traders’ need is guaranteed of success in the long run.
We have used our many years of experience in the binary options market to properly analyse Raceoption’s services and to determine whether the broker is indeed a good quality broker for our readers. Use our Raceoption binary options review to gather extensive information about the company, and to receive a hefty bonus when you sign up for an account!
Company Information & Raceoption Regulation
Raceoption may seem familiar to some users, as the company appears to have a design layout that is quite similar to Finrally. In fact, Raceoption is operated under the same umbrella as the Finrally binary options platform, as both companies are a part of the Finance Group Corp (FGC). Raceoption was introduced in 2017 by Race Projects Ltd., which has its registered office in Seychelles. FGC, on the other hand, is registered in Vanuatu and is also an integral part of Suomen Kerran LP, which has different binary options properties across the globe offering same or similar services. Suomen Kerran LP is also a Scottish company, which brings it under the UK’s regulatory framework.
Raceoption may not be the best broker outright, in terms of regulatory protection, as we would usually recommend trading with brokers that are regulated by agencies such as the FCA or the CySEC. European brokers are better regulated, offer more transparent services, and have better financial stability, but we have come to trust brokers from other countries primarily due to their quality of services and dedication to customer service. We have also had quite a positive experience with Suomen Kerran LP, as its entire binary options properties are known to offer the best in binary options products and services with a negligible negative customer feedback.
Another advantage of trading with a company that is located in locations such as the Seychelles and Vanuatu is that they are able to offer better bonuses, lower trading costs, and more freedom on trading. These brokers are also not hindered by any regulatory restrictions, which further aid in better trading conditions that traders expect. Despite not having a strong regulatory license, we do expect Raceoption to offer a reliable service, and we can indeed count on their largely positive reputation.
There is a small confusion surrounding the broker’s policy towards traders from the USA. Raceoption is not regulated or approved by the US regulators, which essentially prevents the company from offering its services to US traders. The broker also states this fact in its terms and conditions, but interestingly, the company has also provided support numbers for its US clients. However, we would recommend US citizens to be cautious while trading with overseas brokers, as current laws in the United States, are strict against any unauthorised binary options trading.
Raceoption Financial Instruments
The FGC offers a respectable choice of financial assets through its platform, with access to over 100 different instruments from the Forex, commodities, indices, and shares market. Although the company has a good choice of assets, we can’t help but notice the absence of cryptocurrencies in the mix, as cryptocurrencies are one of the most popular categories in the binary options market. Raceoption certainly had an excellent opportunity to include cryptocurrency options, as it was only launched recently, but the lack of such an option may make it difficult for the broker to cater to the new-age traders.
Forex: EUR/USD, GBP/USD, USD/JPY, USD/CAD, EUR/JPY, EUR/GBP, USD/TRY, USD/RUB, USD/ZAR, USD/SGD, NZD/USD, USD/CHF, AUD/USD, GBP/RUB, EUR/RUB, GBP/JPY, GBP/CHF, AUD/CHF, EUR/CAD, AUD/JPY, CAD/JPY, AUD/NZD, EUR/AUD, GBP/CAD, NZD/JPY, AUD/CAD, EUR/NZD, EUR/CHF, BitCoin/USD, BitCoin/CNY, AUD/USD FUTURE, EUR/JPY FUTURE, USD/JPY FUTURE, GBP/USD FUTURE,EUR/USD FUTURE
Stocks: IBM, NISSAN MOTOR, TEVA PHARMA, TESCO, TURKCELL (TURKEY), TATA MOTORS (INDIA), HSBC HOLDINGS (LONDON), COCA COLA (US), SBERBANK (RUSSIA), LUKOIL (RUSSIA), BP (BRITISH PETROLEUM), GAZPROM (RUSSIA), NIKE (US), APPLE (US), MICROSOFT (US), CITI (US), ALPHABET Inc C (Google), F BP, S.BANK INDIA, EXXON MOBIL, BAIDU, AMAZON, DISNEY, GOLDMAN SACHS, INTEL, JP MORGAN CHASE, PFIZER, CATERPILLAR, BANCO SANTANDER, TELEFONICA, BANK OF AMERICA, AIG, YAHOO, NETFLIX, McDONALD’S, ANZ BANK, BHP-AU, RIO-AU, LAS VEGAS SANDS, WYNN RESORTS, EBAY, SONY, BOEING, WAL-MART, GENERAL MOTORS, GROUPON, MASTERCARD, SALESFORCE.COM, STARBUCKS, AXIS BANK, TATA STEEL, ROSNEFT, FACEBOOK, YANDEX N.V, CK HUTCHISON, BLACKBERRY, 3M, TENCENT HOLDINGS, TWITTER, MICRON, SINA, TESLA MOTORS, WEIBO, VTB BANK, ALIBABA, GENERAL ELECTRIC, JOHNSON & JOHNSON, MAZDA MOTOR, TOSHIBA CORP, SUMITOMO , MITSUI, TOYOTA (US), COLGATE-PALMOLIVE, FERRARI, LLOYDS BANK, BARCLAYS, BRITISH AMERICAN T, VODAFONE, RIO TINTO, CARNIVAL CRUZE
Indices: DOW (US), S&P 500 (US), NASDAQ (US), DAX (GERMANY), CAC (FRANCE), FTSE 100 (UK), ISE 30 (ISTANBUL STOCK EXCHANGE), RTS (RUSSIAN TRADING SYSTEM), MSM 30 (OMAN), TADAWUL (SAUDI STOCK EXCHANGE), DUBAI (DUBAI FINANCIAL MARKET GENERAL INDEX), KUWAIT (KUWAIT GENERAL INDEX), BOMBAY SE, HANG SENG (HONG KONG), SSE180 (SHANGHAI STOCK EXCHANGE), KL FUTURE, NIKKEI225（JPN）, TEL AVIV 25, TOPIX, MICEX 10 (MOSCOW INTERBANK EXCHANGE), ASX, IBEX, FTSE F- DEC16, ASX F-DEC16, NIFTY F-SEP16, SMI, FAZ-SHORT BANKS(ETF), IBEX F-OCT16, HANG SENG F-SEP16, CSI 300, TSX 60, SHANGHAI COMPOSITE, DOLLAR INDEX-DEC16, GERMANY 10YR-DEC16, FTSE MIB F- DEC16, RUSSELL 2000, FTSE 250
Commodities: SILVER, PLATINUM, OIL (LIGHT SWEET CRUDE), Sugar, Coffee, GOLD/EUR, GOLD, GOLD FUTURE, OIL FUTURE
Raceoption Payouts & Trading Conditions
The trading conditions at Raceoption follow a standard affair that is common among all FGC properties, but Raceoption brings a small twist to the proceedings. Aside from the regular binary options products that include all variants of the short-term, intra-day, and long-term options, the broker also provides CFD products for those who wish to trade both binary options and the conventional CFD market. The binary options products include the popular turbo options, one-touch options, and the classic options, which have payouts starting from 60% and a maximum payout of 90% on select options. CFD products have a more traditional approach, where the profits and payouts are dependent on the invested amount and the movement of the markets.
The minimum investment starts from $1 per position, with a maximum investment ceiling of $1,500 per position. Unlike most of the broker’s competition, Raceoption actually allows its traders to close its binary options trade well before the expiry, provided the trade meets specific criteria. Trades can be sold out for a partial refund, provided the closing time is at least greater than 1/4th of the original expiry. The sell-out feature is also available with the rollover and double-up features, which basically allows the trader to extend the expiry time of the options contract. Therefore, the ability to manage binary options trades should undoubtedly be a prominent highlight of Raceoption’s products, along with the availability of CFD products.
Raceoption also facilitates trading over the weekends, but we do not recommend trading over the weekend due to liquidity concerns. A majority of markets are closed during the weekends, which can result in a slow and relatively flat market for most assets. Trading on weekdays can produce the most exciting and profitable opportunities.
Raceoption Binary Options Platform
The Raceoption platform is a slightly modified version of the SpotOption platform, which is an entirely different approach from what one expects from an FGC or Suomen Kerran LP binary options property. Usually, Suomen Kerran LP platforms are proprietary trading platforms that have live chat features embedded for instant support. The Raceoption platform follows a direct trading interface, where the trader has all the required trading tools and information in a simple and easy-to-use layout.
The platform is web-based and is compatible with all leading web browsers. Trading is quite easy and intuitive, as choosing an asset, the investment amount, the time of expiry, and the trade outcome is all provided through an excellent trading dashboard. The chart is quite basic in its layout and features, but it can provide historical data for better analysis of the markets. For CFD traders, the platform also provides standard trading options, but the browser-based interface does lack the trading flexibility and features as offered by a dedicated installable interface.
Raceoption Mobile Trading Platform
Every popular binary options company realises the importance of mobile trading platforms. Therefore, the Raceoption mobile apps are readily available for download on Android and iOS operating systems through their respective app stores. These mobile apps are easily scalable for both smartphones and tablets, but if you are looking for a browser-based trading experience, the Raceoption WebTrader can also be used for trading. There is only a single login for every account, thereby ensuring full access to both the mobile trading apps, as well as the web platform.
Raceoption Account Information
The Raceoption account choices are designed according to the standard offerings provided by the company’s other sister concerns. There are primarily three different account options, with a Raceoption minimum deposit requirement of $250. The cheapest account option is known as a Bronze account, where traders get access to 24X7 live video chat, a demo account, access to the copy trading tool, and a one-hour withdrawal promise. Although the Bronze account is slightly more expensive than a few other competing accounts offered by rivalling brokers, $250 is a nominal investment for the features on offer.
The Silver account delivers a few additional trading benefits such as a Masterclass session and an individual account manager. Of course, the added benefits do warrant a higher deposit of $1000, but you do receive a more personalised service for your investment. The Silver account has all the advantages of the Bronze account and is the company’s most popular account choice. If you are looking for expert assistance in your trading ventures, the Gold account provides integrated technical analysis, but traders are expected to invest at least $3000. If you can afford it, we would recommend the Gold account, as the technical analysis provided by the broker can greatly complement your own inference of the markets for better accuracy in trading.
The broker’s promise of withdrawals within an hour is also an added advantage of trading with Raceoption, especially when other brokers specify up to 10 working days for processing a withdrawal. There is a wide range of payment methods, including online payment wallets such as Skrill, Neteller, and PerfectMoney, along with the option to deposit/withdraw through credit/debit cards. Although the broker does not offer cryptocurrencies trading through its platform, the broker supports payments through cryptocurrencies and accepts all coins, including bitcoin and Ethereum. Regardless, all payments are processed through highly encrypted online channels for maximum payments security.
The bonus changes according to the choice of account, but Raceoption offers anywhere from 20% to 100% bonus for a maximum bonus of $100,000 per account holder for a given calendar year. The bonus also has a nominal transaction volume requirement, and opting for a bonus means that you accept the broker’s terms and conditions. The broker is also offering three risk-free trades, which will be transferred as trading credits to the account if you lose your three trades in a row. The risk-free trade offer is also another type of bonus that has the same conditions as the deposit bonuses. Bonuses should help traders in increasing their market exposure without any additional risk, but withdrawals may only be processed after satisfying the broker’s bonus policies.
Raceoption Demo Account
Raceoption offers a limited demo account for every account holder, which can be accessed after making an initial deposit. Traders will have to open an account and deposit money into their trading account for demo access, but in case traders are not comfortable with the services, they can always request a withdrawal. Of course, make sure that you don’t opt for a deposit bonus or a risk-free trade bonus until after trading on the demo account, as it can help you to make a withdrawal without any issues. The broker allows up to three days for their traders to forfeit their bonus and enjoy unrestricted withdrawals, but traders should not perform any trading activity within such a period.
Raceoption Customer Service
Raceoption uses a modified trading platform that does not feature a live video chat feature, unlike its other web properties, but traders still receive access to 24X7 live video chat for around the clock customer service. There are also five different customer service numbers for clients to access the customer support team, which are dotted across the world in North America, Europe, and Asia. Alternatively, traders can also use the web contact form for contacting the broker’s representatives for detailed support.
Raceoption Education Centre
Raceoption does not have an extensive training database, but there are a masterclass session and a personal account manager for Silver and Gold account holders. Additionally, the integrated technical analysis package offered for Gold accounts also serve as an immense help for traders in making the right trading choices for a positive trading experience. Unfortunately, Bronze accounts do not offer any educational materials or videos, which really makes it imperative to choose either the Silver or the Gold account.
Owned and operated by an established company in the binary options market.
Minimum trade size starts from just $1.
Up to 100% bonus for deposits and three risk-free trades.
24X7 live video chat.
Access to both binary options and CFD trading.
A relatively new entrant to the markets.
No cryptocurrencies offered for trading.
Not regulated by any leading regulatory organisation.
Is Raceoption A Scam?
No, although Raceoption launched its brokerage only in 2017, the service is owned and operated by a reliable company.
What Is The Minimum Investment For A Trading Account?
The minimum deposit for a Bronze account is $250.
What Is The Bonus?
Traders can expect to receive anywhere from 20% to 50% bonus for their investments, along with three risk-free trades.
What Is The Withdrawal Time?
All withdrawals are processed within an hour, unless traders do not satisfy the bonus conditions, in case they have availed a bonus.
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