RaceOption Review 2023

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Available in United States

Our Rating

3.5
/ 5

RaceOption is #7 in our binary options broker rankings.

RaceOption is a binary options and CFD platform offering trading contests and prize giveaways.

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Demo Account

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Copy Trading

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Bonus Offer

Minimum Deposit $250

Trading Platforms TradingView

Instruments Binary Options, CFDs

Bonus Offer 20% - 200% Deposit Bonus

Account Currencies USD, EUR, GBP, AUD, RUB

Payment Options Credit Card, Debit Card, Bitcoin Payments, Neteller, Skrill
and 4 more

All RaceOption Details

Compare RaceOption

Binary Trading

RaceOption offers binary options on popular financial markets with payouts up to 95%. The broker also runs regular trading contests.

Forex Trading

Trade major and minor currency pairs with competitive leverage rates

Stocks Trading

Trade more than 50 stocks and shares on US, UK and European markets.

CFD Trading

Go long and short on popular financial markets via the RaceOption platform

Crypto Trading

Trade Bitcoin against the USD and CNY

Copy Trading

Replicate the positions and strategies of multiple traders while leveraging the RaceOption leaderboard.

RaceOption is an offshore CFD and binary options broker. The online trading platform offers 100+ instruments with access to forex, indices, commodities and stocks. Our 2023 RaceOption.com review will cover the maximum leverage available, how to register for a live account, bonus incentives, mobile app features and more.

RaceOption Headlines

RaceOption was established in 2017. It is owned and operated by Makerun Corp, based in the Marshall Islands. The brokerage is currently unregulated though it has positive user reviews and is considered a legitimate binary options brand.

New traders can get started in three straightforward steps and earn up to 95% extra income in just 60 seconds. The company also offers a low-cost copy trading service for account holders.

Products

RaceOption offers 100+ CFD and binary options assets to retail clients. Most popular financial markets are available:

• Forex – Speculate on 25+ currency pairs; majors and minors
• Shares – Trade on 50+ major global companies including IBM, BP and Amazon
• Indices – Speculate on some of the world’s largest markets across global index groups including the S&P 500, DAX 30 and FTSE 100
• Commodities – Access opportunities on soft commodities, energies and precious metals including Coffee, Crude Oil, Gold and Silver

The broker also added a long list of OTC assets to the platform in 2023 with competitive trading conditions. This includes payouts up to 95% with a minimum stake of ¢0.01 and a 5-second minimum contract length.

Platform

RaceOption offers a proprietary trading terminal. The software is available as a web-based programme with no download requirements. Importantly, the platform is easy to use and features a modern interface. The modest range of charts and graphs will also suit various strategies while the firm’s selection of binaries, including Turbo Options, are available in a few clicks.

Key platform features include:

• Drawing tools
• 60 second trading
• Full trading history
• Multiple timeframes
• 30+ technical indicators
• Scaling options in charting tool
• Market movement and forecasting indicator
• Built-in copy trading tool to mirror experienced investors

RaceOption also routinely upgrades its platform to improve the usability. For instance, clients now have new time options for OTC assets (5, 15, 30 seconds) and new buttons to choose their trade size ($5, $10, all-in). In addition, CFD traders can see the Take Profit, Stop Loss and IF buttons on spot.

On the downside, no platform user guide is offered and there is no third-party solution, such as the industry recognised MT4 or MT5.

How To Trade

Account holders can start trading RaceOption’s range of binary options and CFDs in a few simple steps:

1. Select the asset you’re interested in from the platform’s dropdown menu
2. Use the charts to analyze real-time performance alongside historical metrics
3. View market sentiment with the % of buyers and sellers displayed on the terminal
4. Select your desired expiry time and enter the amount you wish to trade
5. Hit Up if you believe the price will increase and select Down if you think that it will drop
6. Collect your payout in the form of a percentage of your invested amount

Fees

Spreads are variable with market conditions. And while finance details are vague on the broker’s website and platform, trader reviews show they are typically in line with competitors.

Trading unleveraged crypto CFD assets incur a 1-2.5% fee based on the transaction value. Leveraged crypto CFD positions are charged a 5% commission.

It is free to open and maintain an account with RaceOption. However, if clients fail to execute at least one trade per calendar month, a $10 account service fee will apply. Rollover charges are also levied on positions held overnight. Personal taxes are the responsibility of the client.

Leverage

The broker offers leveraged trading on CFDs only. This varies by asset, though rates up to 1:30 are offered on cryptocurrency positions. The maximum leverage ratio offered for other instruments is 1:500. As always, be careful when trading with high leverage as both profits and losses are multiplied.

Mobile App

We were pleased to see the RaceOption platform is available as a free mobile application. Traders can download the app to Apple (iOS) and Android (APK) devices from the relevant Google or Apple app store.

Simply sign in to the platform from your mobile device to access the tools, features and functions found on the web trader terminal. You can view your entire trade history, access live charts and execute trades instantly. Deposits and withdrawals can also be requested and the firm’s full range of binaries are available.

Deposits & Withdrawals

It is free to deposit to a live RaceOption account, however, third-party charges may apply. Minimum deposit requirements start at $250 for the Bronze Account. Available payment methods include credit/debit cards, bank wire transfer, e-wallets, cryptocurrency and altcoins.

All solutions provide instant funding pending confirmation from the relevant payment network. Some deposit methods may also have their own minimum thresholds.

Our traders were also pleased to see RaceOption has reconfigured the funding page to make it easier to fund live accounts.

Withdrawal methods are similar with no fees charged. The broker also offers a guaranteed withdrawal processing time of one hour after confirmation. Note there is a minimum withdrawal limit of $50 and there are no maximum limits.

Our withdrawal review found a couple of key terms to consider when trading with bonuses:

• Account With Bonus Applied – 300% turnover from deposited amount must be achieved before withdrawal request
• Account With No Bonus Applied – 100% turnover from deposited amount must be achieved before withdrawal request

Demo Account

RaceOption offers a demo account on the proprietary platform. This is standard practice at established brokers and enables traders to apply day trading strategies risk-free and navigate platform features. You can tell if you’re in Demo or Real mode through the markers in the top right hand corner of the platform.

Unfortunately, paper trading accounts are only available upon meeting the minimum initial deposit requirements of a live account. Limited flexibility and no free option is disappointing to see vs sites like Pocket Option, IQ Option, Videforex, Binarycent and Nadex, which all offer free demo accounts.

Promotions

Access to RaceOption bonus incentives varies by account registration location. At the time of writing, the broker offered various financial enticements and promo code discounts. All new account registrations are entitled to reward features. Importantly, promo funds must be used for trading and associated turnover thresholds apply (3x deposit and bonus turnover) that must be met within three months of bonus acceptance.

Ensure you understand the rules and minimum policy requirements before signing up. Alternatively, any new registrations have three days to contact the broker’s customer support to opt-out.

Historical offers have included a $250/£200 promo code incentive for any new accounts opened. Other incentives have included a weekly trading contest and prize giveaways. The RaceOption referral programme also enables 20% deposit paybacks based on the new client’s initial deposit.

Regulation

RaceOption is not regulated by any reputable financial body. The broker is operated by Makerun Corp, registered in the Marshall Islands. Unfortunately, our review came across various warnings and concerns around the legitimacy of some services. Publications of illegal financial service operations being offered across Europe were found, including those from the French AMF and the Portuguese CMVM.

Unregulated brokers do not generally offer the same levels of protection as established agencies such as the FCA or CySEC. You may not benefit from negative balance protection or have access to a compensation scheme in the case of business insolvency.

Note, binary options are banned in the UK and Australia.

Additional Features

Educational content and additional tools are lacking on the RaceOption website. There is no day trading guidance or full asset details provided, which would be particularly helpful for beginners. It would also be good to see some platform tutorials or YouTube guidance posted in the future.

Our review was pleased to see a copy trading platform has recently been introduced, providing an option to execute trades based on the investments of existing clients. Simply choose from a list of top-performing traders and the platform will automatically copy their positions. Manual orders aren’t required and you can request a withdrawal at any time. Alternative trading conditions can also be selected including double-up or fixed time investments.

Accounts

RaceOption offers three account types; Bronze, Silver and Gold. All accounts provide access to the full range of binary options and CFDs and are denominated in popular currencies, including USD, RUB, EUR, AUD and GBP.

It is quick and easy to sign up and open a new live trading account. Traders simply need to complete the online registration form and upload identity verification documents such as a passport and proof of residency. Once details have been approved, you can start trading immediately. Clients can also switch between the demo and live account types via the platform navigation bar.

Below we have outlined the key features of each account:

Bronze Account

• Demo account access
• 1-hour withdrawal time
• 20% deposit bonus available
• Access to the copy trading tool
• 24/7 video chat customer support
• $250 minimum deposit requirement

Silver Account

• Demo account access
• First 3 risk-free trades
• 1-hour withdrawal time
• Web masterclass access
• 50% deposit bonus available
• Access to the copy trading tool
• 24/7 video chat customer support
• $1000 minimum deposit requirement

Gold Account

• Demo account access
• First 3 risk-free trades
• 1-hour withdrawal time
• Web masterclass access
• Personal success manager
• 100% deposit bonus available
• Access to the copy trading tool
• 24/7 video chat customer support
• $3000 minimum deposit requirement

Note, risk-free trades are compensated in the form of a bonus in the case of negative trading results.

We also rated the Rollover service available. This tool lets traders extend their position for 100% of their chosen timeframe on the first application. Following applications allow users to extend up to 30%.

The charge for a rollover is $1 = 1 rollover. However, we liked that free rollovers may be provided depending on your account and deposit.

Advantages

Reasons to sign up for a RaceOption account include:

• Mobile app
• Live chat option
• Copy trader tool
• Up to 95% binary payouts
• Various account funding methods
• Guaranteed 1 hour withdrawal processing time
• First three trades risk-free with Silver and Gold accounts

Disadvantages

Downsides to trading with RaceOption include:

• Unregulated
• Limited educational content
• Withdrawal thresholds apply
• No free demo account option
• High initial minimum deposit requirement

Trading Hours

Opening hours vary by instrument. Typically you can trade currencies, commodities, stocks and indices 24 hours per day between Sunday to Friday. Trading hours by market can be found within Instrument Profiles.

Note, the RaceOption platform follows a GMT zone. Unfortunately, a session timetable is not available on the broker’s website to stay up to date with upcoming public holidays, daily break sessions and market closures.

Customer Support

RaceOption offers 24-hour customer service. This includes international phone numbers, live chat and an online contact form. Live chat can be accessed across the website and is available in 20+ languages. A self-help FAQ section is also available. Topics include demo account logins, deposit methods not working, plus reasons why the service may be temporarily unavailable. The broker is also present on social media channels including Twitter, however, posts and news are not regularly updated.

Note, there is no email address contact option.

Security

Although RaceOption is not regulated by an official authority, it has taken steps to promote a safe and secure trading environment. The broker uses Secure Socket Layer (SSL) technology to encrypt transactions. Other security features include 3D secure and segregated client funds. Two-factor authentication is not currently available.

RaceOption Verdict

Our review has highlighted some of the pros and cons of trading with RaceOption. We were pleased with the fast deposit and withdrawal options, multiple customer service channels and easy-access copy trading tool. Product selection is quite limited but there is still a generous choice of leveraged CFDs and binary options. Sign up to start trading today.

Accepted Countries

RaceOption accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Payment Methods

• Credit Card
• Debit Card
• Bitcoin Payments
• Neteller
• Skrill
• Perfect Money
• Mastercard
• Visa
• Ethereum Payments

RaceOption Details

CFD Trading Details

Forex Trading Details

Cryptocurrency Trading Details

Binary Options Trading Details

Compare RaceOption

Compare RaceOption with similar brokers that accept traders from your location. Among available brokers these are the most similar to RaceOption:

1. Binarium – Binarium is an unregulated, global binary options broker with a range of financial markets, account types and base currencies on offer.
   Go to Binarium
2. Videforex – Videforex accepts deposits in a range of cryptos and fiat currencies. Payouts reach 98% per trade.
   Go to Videforex
3. IQCent – IQCent is an offshore binary options and CFD broker with 10+ payment methods and a $50 minimum deposit. Clients benefit from copy trading tools and in-depth market analysis.
   Go to IQCent

RaceOption Comparison Table

Compare Trading Instruments

Compare the markets and instruments offered by RaceOption and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

RaceOption vs Other Brokers

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FAQ

	Visit	RaceOption is a binary options and CFD platform offering trading contests and prize giveaways.
RaceOption is a binary options and CFD platform offering trading contests and prize giveaways.