Raceoption Review : Is It Scam or Profitable?

Last Updated: January 24th, 2023
Overall Rating
4/5
Features
3/5
Platform
3/5
Desktop Experience
3/5
Education
3/5
Mobile Experience
3/5
Withdrawal
3/5
Customer Support
3/5
Trust
3/5
Home» Binary Options Brokers » Raceoption Review : Is It Scam or Profitable?

Raceoption Review - Ensure The Security Of Trading Deposit

Raceoption is a well-known trading platform even though it’s a fairly new broker in this trading industry.

Nowadays, it’s not hard to find a broker as they are prevailing all over the market. But it’s really important to filter out the most suitable and trusted broker from all other fake and scam brokers to avoid unnecessary losses. Authentic reviews can be a perfect solution to this problem.

However, along with an authentic review, there are many factors that you need to check before selecting one.

This article will give you an honest review of the Raceoption broker. In this article, you are going to be provided with the detailed information of this broker, its features, account types, trading platform, and so on.

Let’s start

Raceoption Review: What Is Raceoption

Not all trading platforms offer options trading. Among the very few brokers who provide the most opportunities to trade options, Raceoption is one of them. The broker offers Forex, CFDs Crypto, and Options.

Raceoption is operated by Makerun Corp, based in the Marshall Islands. The broker was founded in 2017, and since then, it has changed its services.

Though they introduced themselves as a regulated broker, unfortunately, we won’t find any valid regulatory information on their website. That means any reputed financial body does not regulate it.

However, the broker is part of Finance Group Corp (FGC), registered in Vanuatu. Even though RaceOption is based in London. Because of the minimal regulation, traders can enjoy a restriction-free options trading environment with maximum assets.

The saddest part is that the website provides almost no information about this company. On the other hand, the broker does not offer any services in the United States.

Apart from this, the broker offers day and night support in multiple languages.

So, in short, the facts about this broker:

  • Not regulated
  • Offshore broker
  • Accept international clients
  • Operated by Markerun Corp
  • Part of Finance Group Corp (FGC)
  • SSL certified

Special Bonus Offer

Super boost your trading session with Raceoption. Binoption is offering a “special bonus” for new and existing clients that deposit $1000 or more. This special offer is available for all real account holders who already verified their account.

We mentioned the code below inside a box. Besides, the following special offer is available around the world.

Fund your trading account with $1000 or more and instantly receive a 200% deposit bonus. The offer is available for a limited time. Hurry and take advantage of this lucrative bonus offer.

Promo Code: DKGR200

Promo Code: GALLEN200

How To Use This Bonus Offer

The bonus is automatically available for all clients who deposit $1000 or more into their funding accounts.

Through this special offer, we are giving you the ability to trade with even more power and more confidence.

  • Copy the bonus code
  • Go to the Account funding page
  • Enter the special bonus offering code and get your bonus!

RaceOption Review- Video Explanation

Why Choose Raceoption

Raceoption will allow you to trade with two separate financial products. It is mandatory to mention that the platform is user-friendly. Besides, the broker has some outstanding criteria.

Let’s find out why traders choose this platform for both long and short-term trading. Also, the splendid features will help you to decide whether you should trade with it or not.

  • Demo account facility.
  • Minimum deposit $250
  • Maximum return up to 90%
  • Leverage 1:500
  • 3 Available versions
  • Over 100 assets
  • Withdrawal in 1 hour
  • Wide range of deposit and withdrawal methods

  • Minimum withdrawal $50
  • 3 account types
  • Copy-trading facility
  • Weekend trading
  • First 3 risk-free trades
  • Big bonuses, giveaway, and prizes.
  • 100% of data protection
  • Variable spread

Sign-Up And Login Process

You don’t need to download any software to trade on the Raceoption platform. The simple account opening process will require a few information.

One must follow the following steps to complete the sign-up and login process.

Step 1:

Registering an account is completely free for traders. You can visit their website and find the registration form on the first page.

Put all the personal information (Name, Surname, Phone number, Email, Password, Account currency, etc.)

Step 2:

Agree with their terms and conditions and click the next button to experience the platform interface. You can access the platform without engaging in any trading.

Remember, please make sure the data you submit is correct and up to date. In the future, it will simplify the withdrawal process.

High Capital Risk Is Involved In Financial Trading

Account Verification: How To Verify An Account

It’s not like Raceoption will ask you to verify your account instantly. But it is required to provide all valid information to keep your account safe and secure.

At any time, you can be asked to provide an electronic copy, certified copy, or notarized copy of a passport (at the discretion of the Company).

If the Client has not received a request to provide the documents, then it’s not mandatory to verify the account.

On the other hand, the customer is responsible for the authenticity of the submitted documents. If it detects a document falsification, the broker may place an account on hold and conduct an investigation.

Simply follow the given procedures and continue.

Raceoption Demo Account

Nowadays, almost all brokers offer demo accounts. There is nothing different about Raceoption. However, there is a limitation regarding the demo account.

Traders can only access the demo account after depositing money. So, you need to contact the support team immediately after funding your account.

Demo accounts are beneficial for getting comfortable with a particular trading platform. It also helps you learn how to trade.

Additionally, a demo account helps traders improve their trading skills. And the broker has the transparency on that. We haven’t got any report on market manipulation.

RaceOption Account Types

This broker has combined the most demanded services into packages for the trader’s convenience. Your accessibility depends on the amount of your first trading deposit.

The minimum deposit starts at $250, and the maximum is $50,000.

According to your experience level, you can choose any of the following three accounts. Each account type has a unique facility.

Bronze

$ 250
  • Copy trading tool
  • Bonus up to 20%
  • 24/7 Live video chat
  • Demo account

Silver

$ 1000
  • First 3 risk free trades
  • Master class (Web-based)
  • Bonus up to 50%
  • Copy tradiing tool
Most Popular

Gold

$ 3000
  • Integrated Technical Analysis
  • Personal Account Manager
  • Bonus up to 100%
  • Copy trading tool
  • Demo account

Note that in case of a negative trading result, risk-free trades are compensated in the form of a trading bonus. In this phase, we will give a short brief on each trading account types.

Bronze Account Type:

The bronze account is suitable for traders who are beginners. However, traders must deposit $250 as an initial deposit.

You can use different methods to withdraw your profits. As per their website information, the team will take 1 hour to approve traders to withdraw money.

Additionally, traders will be able to copy expert traders using copy trading tools. A demo account is available for all account types. Furthermore, you will receive 24/7 live video chat assistance.

Traders will get up to a 20% bonus on their first deposit.

Silver Account Type:

To be a silver account holder, you must deposit a minimum of $1000. It is the most popular trading account among traders.

Traders will get all facilities similar to the bronze account holder. Along with those, the trader will also get a web-based master class.

This web-based class will help you to learn more about the trading market and the types of trading.

On the other hand, the withdrawal of profits will take 1 hour. Furthermore, an individual account manager will always help you when you are in trouble.

Moreover, the trading bonus for silver traders is up to 50%. Traders will also get the first 3 risk-free trades.

Note that risk-free trades are compensated in the form of a trading bonus when you have negative results.

Gold Account Type:

The minimum deposit for a gold account holder is $3000. Gold traders will enjoy the maximum trading features or benefits from Raceoption.

Integrated technical analysis tools help traders analyze the market more precisely.

Along with this feature, a gold account trader will get a personal account manager, demo account, risk-free trades, copy trading tools, and more.

The bonus amount is up to 100% depending on the deposit amount.

Trading Instruments - Raceoption Assets

Raceoption offers two types of trading. Such as –

  • Options trading
  • CFD trading

More than 100 trading assets are available, including Forex, commodities, crypto, indexes, and stocks. For CFD trading, you will get leverage up to 1:500.

However, the leverage ratio depends on trading assets. For example, 1:10 for cryptocurrency.

In trading, the spread is the difference between the lower and higherrice of a given CFD. Consequently, binary options have no spread, only CFDs.

Raceoption Trading Platform Overview

Here comes the real part, the battlefield. With Raceoption, you get the most powerful and advanced trading platform. The broker offers both web-based and mobile apps.

The trading dashboard is intuitive with charts and tools. It is necessary to use those tools to make your trading journey easier.

Next, you’ll find charting tools, fundamental analysis, trade pattern ideas, news, technical analysis, and an economic calendar. Additionally, this row has two eye-catching options- trading contests and copy trading.

All the currency pairs are included in the left sidebar, while the right sidebar gives all the options of option types, time, Fixed time, amount, profit, call and put. In between, you can see this live trading chart.

From the drop-down menu, select your asset and set the parameters to execute trades. Option types include three options- turbo, Interday, and Long term. And CFD traders can enjoy stop-loss and take-profit features to control their trading risk.

Lastly, there’s also a row with statuses (open/close), assets, and a date option that lets you set the trading time.

Facts that need to be listed:

  • Trade under an experienced trader’s guidance
  • Non–stop weekend trading
  • Copy trading
  • Full data protection

High Capital Risk Is Involved In Financial Trading

Trading Charts

Market analysis tools are a lifesaver in having a stress-free trading day. Using different charts and tools, you can analyze the market and predict its direction. In Raceoption, you will get advanced charting tools powered by TradingView.

Apart from this, the indicators will help you to complete a concrete technical analysis session before each trade. Also, you are open to doing fundamental analysis.

The other advantage is the news section. With the calendar, you can keep up with the latest trade and economic news.

So, the facts are:

  • Wide range of technical indicators
  • Huge range of trading tools
  • Latest market news
  • Risk-free trading
  • Trader’s choice facility
  • Drawing tools
  • Multiple timeframes

Raceoption Copy Trading

The copy-trading part needs to be emphasized separately since it’s the most effective way for beginners to learn. And Raceoption allows you to do copy trading.

There are some eye-popping benefits of copy trading, especially when you can earn and learn simultaneously. On the other hand, you can also learn how professional traders analyze the market.

Moreover, the extras that you will get are –

  • Copy trading limits the potential loss
  • The most effective passive income strategy

Live Traders - Raceoption Platform

On the raceoption platform, you will find the live traders’ details on the left side. The list will include

Traders name

  • Asset name
  • Time
  • Trade size
  • Payout amount

Moreover, you can copy traders from this list as well. You will find a copy trading button. You’ll see the name on the copy trading list after you select it.

Education Centre

Raceoption does not have an education center where you can learn the basics. However, you will get a personal account manager, but you have to be a silver or gold account holder.

You can count it as a drawback.

Supported Automated Robots

Traders who use Raceoption brokers can trade with an automated binary options robot. Raceoption supports two trading bots. Moreover, the robot integration process is simple.

All you need to do is deposit an amount through a broker and then set your trading bot to perform trades on your behalf.

BinBot Pro and CentoBot are two automated trading bots for options traders. These robots are popular for their unique trading features.

Traders can use Raceoption as their broker while using these robots. Moreover, you can open a free account from the below table: 

BinBot Pro

$ 250 Minimum Deposit
  • Returns up to 90%
  • Demo Account: Yes
  • Robot Profitability:300%

CentoBot

$ 250 Minimum Deposit
  • Returns up to 95%
  • Demo Account: Yes
  • Robot Profitability: 297%

Raceoption Mobile Trading

Previously, RaceOption had mobile trading, which lets you trade on your Android or iPhone. Unfortunately, the app is now under construction. Soon, they will introduce a new app with lot more updated features.

But, you can use the platform from mobile browser.

On the other hand, the coolest part is that mobile trading allows you to execute trades instantly. With just one click, you can manage your trades and portfolio.

This mobile app will show live charts of regular options and CFDs available on the platform. It also enables traders to view their entire trade history.

The features that you will get include:

  • 60-sec trading
  • Account funding facility
  • Withdrawal option
  • Trading history
  • Easy trading interface

Bonus And Promotion

Raceoption provides outstanding bonus offers, giveaways, and prizes.

For example, if your trading deposit is 1000 USD, you’ll get a bonus of 50%, which will make a total deposit of 1500%.

Deposit bonuses of different account types:

  • Bronze account: 50% deposit bonus
  • Silver account:  100% deposit bonus
  • Gold account: 150% deposit bonus

Raceoption Deposit And Withdrawal

Raceoption’s payment procedure states that traders shall fund their trading account within 90 calendar days from its opening in an amount not less than the defined terms for the type of account (minimum initial deposit).

  • The minimum deposit amount is $250

According to the rule, the Company might close/cancel an account with a balance of less than 1 cent (one-hundredth of a US dollar) if the above account balance existed for more than 90 calendar days.

Moreover, you can fund your account by credit cards (VISA/MasterCard), Bank wire transfer, Bitcoin, Ethereum, Litecoin, Altcoins, Neteller, Skrill, and Perfect Money.

On the other hand, the broker claims to have fast and reliable transfers supported by the most popular providers.

Here’s what you need to know:

  • Instant deposit facility
  • SSL certified
  • Broker do not charge transfer fees
  • Third-party fees are included
  • Funding may take longer on weekends and holidays
  • Withdrawal within 1 hour

Their funding and withdrawal methods are:

Visa/Mastercard/Maestro:

You must include your deposit amount according to your account type, card number, expiration date, name/surname, and CVV2 number. Then click on fund your account.

Bitcoin:

Fill in the form to register a new account (First name, last name, email, password) and proceed to your email to confirm and verify your registration.

Altcoins:

A wide range of altcoins is there to use as a payment or withdrawal method. The available altcoins is [Bitcoin cash, Ethereum, Litecoin, Dash, Zcash, Tether USDT(Omni), Tether USDT (Erc20), TUSD (Erc20), USDC (Erc20), PAX (Erc20), HT (Erc20), LINK (Erc20), and other]

Perfect Money:

Put your Email address and the amount of your deposit. Then click on Fund the account.

Customer Support Team

Brokers with competent support teams are always encouraged to take the lead on the frontline. Raceoption provides 24/7 customer service in multiple languages. So, the communication barrier is over now.

You can select multiple ways to contact the team based on your urgency. Visitors are immediately prompted to ask for assistance after visiting the site. The support service is pretty fast. Just call, email, or live chat to clear up any questions you have.

Moreover, live chat support will also add extra benefits.

Lastly, if you need something within 1 second, visit the FAQ section and learn more about the broker and its terms.

Advantages

Advantages-Binoption

This section includes all the advantages of the Raceoption broker for your convenience. Have a careful look so that you can make a perfect trading decision.

The broker has a strong range of trading strategies across options trading and CFDs. Moreover, guaranteed withdrawal processing within one hour. You will also get the benefits of weekend trading.

Offering a variety of funding and withdrawal methods will make your process seamless.

Along with these, you will also get the following:

  • Maximum payout 90%.
  • 100% of data protection
  • Skilled trading advisor
  • Customer support 24/7
  • Easy to use trading platform
  • A strong range of tradable assets
  • Variety of binary options trading formats & CFDs
  • Deposit and withdrawal with cryptocurrencies
  • Trading contest

Drawbacks

Raceoption Drawbacks-Binoption

Finding drawbacks is not always pleasant. But we need to dig down to save our money from scammers’ hands. We are not pointing out that this broker is incompetent, but the lack of regulation is unacceptable.

And it is the biggest drawback for this broker.

Others are –

  • Charges 5% commission for VISA money transfers
  • No demo account facility before an initial deposit
  • High funding amount
  • No callback function
  • Mobile app is not available

FAQ - Frequently Asked Question

Traders asked the following questions randomly on different platforms.

Let’s have a look:

  • Is Raceoption Legit?

    If you are pointing to regulation, it's not a regulated broker. In terms of legitimacy, it counts as a legit broker for the time being.

  • Can I start with $10?

    The initial deposit amount is $250. After that, you can trade with whatever you want.

  • What is "Risk Free Trading" in Raceoption?

    The bonus provision rules provide compensation for risk-free trades in case of negative results. This service requires prior approval from your account manager.

  • Is there any demo trading facility?

    You can only demo trade after depositing the initial amount.

Final Words

So, to conclude, it’s wise not to fall for any temptation and trade with a well-planned strategy for a better trading experience.

Features of Raceoption are strong enough to convince traders to trade with them.

But, RaceOption provides no guarantees of profit nor of avoiding losses when trading, as they have already stated in their website disclaimer.

Other brokers are unlikely to guarantee your win rate. But in reality, it depends on your capability, strategy, and skills.

So, you must be prepared for any situation when you start trading.

Good luck.

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