RaceOption Review 2024


3.5 / 5
RaceOption is #14 in our binary options broker rankings.

RaceOption will appeal to traders new to binary options looking for copy trading, contests and 24/7 customer support. Experienced traders will also appreciate the account-based perks and bonuses.

- Daytrading Review Team

RaceOption is a binary options broker operating from the Marshall Islands. With over 1,500 clients, the broker aims to offer fast funding, low fees and a secure trading environment. Traders can access over 100 binary options and CFDs, plus copy trading and weekly prizes.

$250
TradingView
Binary Options, CFDs
20% - 200% Deposit Bonus
USD, EUR, GBP, AUD, RUB
Credit Card, Debit Card, Bitcoin Payments, Neteller, Skrill, Perfect Money, Mastercard, Visa, Ethereum Payments

Trading App

Despite a couple of connection issues during testing, the RaceOption mobile trading solution overwhelmingly delivers. All the settings you need to amend binary parameters are available around the chart and it’s as simple as clicking the ‘Up’ and ‘Down’ buttons to confirm a trade. Clicking ‘My Trades’ in the bottom left of the mobile interface also makes monitoring multiple trades a hassle-free exercise.

iOS App Rating
Android App Rating

Binary Options Trading

RaceOption offers 100+ binaries with decent payouts up to 95% and ultra-fast expiries from 5 seconds. With a $250 minimum deposit, clients can enjoy free deposits, fast withdrawals and a range of trading bonuses.

Forex Trading

Trade 25+ major and minor currency pairs with access to over 30 technical indicators in the broker's proprietary terminal. You can also follow and replicate other forex trades using the integrated copy trader.

Stock Trading

Go long or short on over 50 major global shares and map out your strategies using the intuitive charting tools. Those with $1,000+ starting capital can also enjoy their first 3 trades risk-free.

CFD Trading

Access a modest range of CFD instruments across key markets, including indices and commodities. Clients can trade directly from charts with high leverage up to 1:500 and customisable time intervals.

Crypto Trading

Trade popular crypto CFDs with leverage up to 1:30 and utilize convenient crypto funding in Bitcoin, Ethereum or other altcoins. You can also enjoy fully flexible, 24/7 crypto trading at home or on the go. Cryptos are paired with USD and CNY.

Copy Trading

Replicate the positions and strategies of multiple traders while leveraging the RaceOption leaderboard. You can start copy trading in three fast steps and follow multiple traders simultaneously.

✓ Pros

  • Beginner-friendly copy trading opportunities in the broker's proprietary trading platform
  • Free and instant deposits via bank cards and cryptos, plus guaranteed withdrawals processing within 1 hour
  • Well-optimised proprietary mobile trading app with instant execution, full trading history and responsive live charts
  • First 3 trades are risk-free in the Silver and Gold accounts, with only $1,000 required to be eligible
  • Sign-up bonuses from 20%, plus weekly trading contests and prize giveaways
  • Flexible weekend trading available plus 24/7 multilingual customer support
  • High payouts on popular underlying assets up to 95%

✗ Cons

  • $250 minimum deposit is higher than other binary options brokers
  • Unregulated broker with lower safety score
  • Limited educational resources
  • Withdrawal thresholds apply
  • No free demo account

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 2024 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:

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:

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.

RaceOption Platform Ratings

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

How to trade binaries on RaceOption

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:

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.

RaceOption Copy Trading Leaderboard

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

Silver Account

Gold Account

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.

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.

FAQs

Is RaceOption Legit And Is It A Good Broker?

RaceOption is a legitimate online brokerage. However, the lack of regulatory oversight causes concerns around the safety of client funds and customer recourse options. Some reviews of RaceOption do highlight apprehensions around potential scams and unresponsive customer support.

Does RaceOption Have A Demo Account?

Yes, RaceOption offers a demo account, however, minimum initial deposit requirements apply. Traders must open a live account and deposit money to gain access.

Does RaceOption Have An iPhone App?

Yes, the RaceOption proprietary platform is available as a mobile trader. The app is compatible with iOS and Android devices. Simply login to access all the features of the web trader terminal.

Does RaceOption Have Rollover?

Tools available to RaceOption clients include sell-now and rollover. These allow customers to build on an existing strategy by adding time to trades or sell out to protect the account net balance by locking profits or cutting losses.

Is RaceOption Regulated?

No, RaceOption operates with limited regulatory oversight. Be cautious when investing personal capital as protection and support may not be available.

Who Owns RaceOption?

RaceOption is owned and operated by Makerun Corp – registered to a location in the Marshall Islands.

RaceOption is not currently regulated in the US. Binary options trading is legal in the United States, however, they must be traded on a regulated US exchange.

Top 3 Alternatives to RaceOption

Compare RaceOption with the top 3 similar brokers that accept traders from your location.

  1. Videforex – Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
    Go to Videforex
  2. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
    Go to World Forex
  3. Grand Capital – Grand Capital is a MetaTrader broker with welcome bonuses, trading competitions and an intuitive copy trading service. Several account types and 400+ assets provide trading opportunities for various types of investors and strategies. New users can also open an account and start trading in a matter of minutes.
    Go to Grand Capital

RaceOption Comparison Table

Compare RaceOption With Similar Brokers
RaceOption Videforex World Forex Grand Capital
Rating 3.5 3.4 4 3.9
Markets Binary Options, CFDs Binary Options, CFDs, Forex, Indices, Commodities, Crypto Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts CFDs, Forex, Indices, Shares, Energies, Metals, Cryptocurrencies, Binary Options
Demo Account Yes Yes Yes Yes
Minimum Deposit $250 $250 $1 $10
Minimum Trade $0.01 $0.01 0.01 Lots 0.01 Lots
Regulators SVGFSA FinaCom
Bonus 20% – 200% Deposit Bonus 20% to 200% Deposit Bonus 100% Deposit Bonus 40% deposit bonus
Education No No No No
Platforms TradingView TradingView MT4, MT5 MT4, MT5
Leverage 1:500 1:500 1:1000 1:500
Payment Methods 9 8 10 14
Visit Visit Visit Visit Visit
Review Videforex
Review
World Forex
Review
Grand Capital
Review

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.

Compare RaceOption Trading Instruments
RaceOption Videforex World Forex Grand Capital
Binary Options Yes Yes Yes Yes
Expiry Times 5 seconds – 30 days 5 seconds – 1 month 1 minute – 7 days 1 minute – 48 hours
Ladder Options Yes No No No
Boundary Options No No No No
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No Yes No Yes
Silver Yes No Yes Yes
Corn No No No Yes
Crypto Yes Yes Yes Yes
Futures Yes Yes No No
Options No No No No
ETFs No No No Yes
Bonds No No No Yes
Warrants No No No No
Spreadbetting No No No No
Volatility Index No No No Yes

RaceOption vs Other Brokers

Compare RaceOption with any other broker by selecting the other broker below.

 

The most popular RaceOption comparisons:

  1. Pocket Option vs RaceOption

Customer Reviews

  4 / 5

This average customer rating is based on 1 RaceOption customer reviews submitted by our visitors.

If you have traded with RaceOption we would really like to know about your experience - please submit your own review. Thank you.

  4

Fantastic binary app with a simple interface that makes it easy to place trades in a few clicks. Withdrawals are also fast and reliable so no complaints there. The support team are also good when I need them, including on weekends when I trade most.

✍ Daniel | 🌐 United Kingdom | January 5, 2024

Submit Your Own Review of RaceOption

If you have experience trading with RaceOption please share your personal review of the broker and what you think are strong and weak points. Thank you.

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RaceOption is a binary options broker operating from the Marshall Islands. With over 1,500 clients, the broker aims to offer fast funding, low fees and a secure trading environment. Traders can access over 100 binary options and CFDs, plus copy trading and weekly prizes.