An Introduction To Raceoption Broker Review
Binary options trading continues to face adversities in the financial markets, primarily due to the rise in the number of broker scams and the significant losses incurred by unsuspecting investors. Binary options trading must be considered as a risky business venture that has its downsides due to the nature of the trading product. However, traders do fall into the false promises of making quick profits in the market, when in reality, binary options trading can quickly eat into a trader’s capital without any sound trading plan.
Raceoption Regulation & Broker Information
The Raceoption brand name is owned and operated by Race Projects Ltd., a company that is registered in Seychelles with registration number 114612, to provide binary options products and services to global traders, irrespective of their financial background. However, the interesting aspect of Race Projects Ltd. Is that it is in turn owned by the Finance Group Corp. (FGC), a Vanuatu-based financial company that has numerous other similar binary options companies situated in different locations across the world. The Raceoption website has the same theme as Finrally, a binary options brokerage operated by the FGC, and aside from a modified company logo and brand name, Raceoption has the same features as its Finrally counterpart.
Race Projects Ltd. was incorporated only in the year 2017 and is a relatively new company with a small trader database. The company currently caters to around 1750 active traders, where the average daily trader income is quite nominal at approximately $750 per trader. Of course, we commend Raceoption for being financially transparent, as it helps in ensuring trust and confidence while trading with the company. Nevertheless, we are slightly concerned that Raceoption is not a regulated binary options broker, as there are several leading companies that have regulatory licenses from leading agencies such as the CySEC, the FCA, and the ASIC.
Traders also expect their brokers to have the best regulatory approvals, as it is a sign of the reputation and overall quality of services rendered by a company.
Raceoption accepts traders from all over the world, but the company may face regulatory restrictions while offering its services to traders from the USA and some parts of Europe and Asia. The broker’s user agreement policies state that traders from the territories of the USA are no longer accepted, but there is also a conflicting report that the broker may allow US traders to maintain an account at the brokerage. We would suggest traders to be completely aware of their rights and responsibilities, and only trade binary options with companies that have regulatory approvals from the concerned agencies.
Raceoption Binary Options Assets
The Finance Group Corp. has been an active participant in the binary options industry for quite a while, and they have a fair idea of the importance of offering a varied choice of financial instruments for trading. Although Raceoption does not have a massive variety of instruments to challenge the leaders in the industry, there are around 160 different assets, which offer various levels of trading opportunities through different binary options products. Although there is a good choice of assets from the Forex, commodities, indices, and stocks market, there does not appear to be an option to trade cryptocurrencies. Cryptocurrencies are highly sought after by modern investors and speculators, and Raceoption can certainly benefit by adding a few cryptocurrencies to their existing asset portfolio.
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
Commodities: SILVER, PLATINUM, OIL (LIGHT SWEET CRUDE), Sugar, Coffee, GOLD/EUR, GOLD, GOLD FUTURE, OIL FUTURE
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
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.
Raceoption Bonuses & VIP Programs
Raceoption keeps its customers interested with some of the best promotional offers for its services, with an option to choose a deposit bonus or risk-free trades. For a bonus, one must deposit at least $250, which qualifies for a 20% bonus as trading credits. The bonus increases according to the rise in the initial deposit, where traders can opt for up to 100% bonus for a maximum trading credit of $50,000. Before choosing the bonus, make sure that you understand the bonus terms, as Raceoption reserves the right to deny any withdrawal requests until you trade the minimum required volume.
Traders can also opt for three risk-free trades, which are primarily bonuses that are disguised as trading insurance. In this case, Raceoption gives you the opportunity to take any amount of risk with your first three trades, and if you lose the positions, Raceoption will credit your account with the amount lost in these trades. On the other hand, if you win all the trades, you get to keep the bonus and the trading capital. On top of the bonus programs, traders are given the option of choosing from three different account options, the Bronze, the Silver, and the Gold account.
The Gold account is the premium option for VIP traders that requires a minimum investment of $3000. The Gold account has the best features, including a masterclass session, integrated technical analysis, copy trading, and other VIP benefits. The Silver account loses out on the integrated technical analysis feature but is a more economical option with a minimum investment requirement of just $1000. However, if you are looking for the cheapest option, the Bronze account can satisfy most of your trading needs with a minimum deposit of $250. There is a Raceoption demo account available for all account holders, but you must first deposit your initial trading capital to be able to get your demo login access.
The Raceoption binary options platform sees a minor departure from the trading platforms that are offered by other FGC properties. The Raceoption interface has opted to host a simple and elegant interface that aligns well with the trading platforms offered by leading brokers in the market. Therefore, Raceoption has managed to improve its overall trading efficiency, which has further resulted in a highly reliable trading experience. The Raceoption platform continues to be browser-based and has all the essential charting information, trading data, and account details embedded into the platform.
Raceoption Mobile Apps
Raceoption is similar to every other binary options broker and FGC-related entities, where mobile traders can trade binary options through a dedicated Raceoption mobile trading platform. The company has a dedicated app for the Android operating system, while iOS users may soon have to switch to the Web Trader, due to Apple’s policies surrounding the legality of binary options. The Web Trader has comparable performance with the Raceoption apps for mobile devices and can offer excellent trading performance through the web browser. Therefore, smartphone and tablet users are recommended to try trading on the Web platform, or if you are an Android user, you can continue to use the official trading app.
Raceoption Fees, Payouts, & Trading Features
Raceoption offers classic binary options for short-term, intra-day, and long-term trading. The maximum payout is only 90%, as the broker does not provide any high-yield options, but 90% is indeed higher than the average payout of 85% offered by other brokers. Therefore, the payouts are quite significant, and traders don’t have to pay any fees for transactions. Not all options offer 90% payout for profitable trades, as some of the low-yield options offer anywhere from 60% to 80% for profitable trades.
While trading with Raceoption, we found out that there are several advantages by way of trade management, which allows us to modify our trades according to the market conditions. Trading starts from just $1 per position, but features such as early sell-out, rollover, and double-up allow traders to manage trades and get out of losing positions with a smaller loss. The maximum amount that can be invested per trade is $1500, which is a bit lower than one would expect. Regardless, Raceoption offers almost all the trading features that one would expect from a leading binary options broker.
Raceoption Deposits & Withdrawals
The minimum deposit amount is $250, and the funding options include Neteller, Skrill, Visa, MasterCard, and Bitcoin transactions. One of the major advantages of Raceoption is that they move all funds to secure accounts in European banks, and in case of a withdrawal request, the broker processes all withdrawals within one hour. The broker has been known to process all withdrawals with no issues, but the withdrawals are subject to meeting the broker’s terms and conditions if traders have availed a bonus.
Raceoption Customer Support
The FGC group of brokers have been using a highly advanced 24 hours live video chat feature, where customers can interact with their account managers or the customer support staff for around the clock customer service. The live chat feature is available through the trading platform, but traders also have the option of contacting the broker through direct phone numbers, email, or the web contact form. We have experienced a highly responsive and professional approach from the company, which is something that helps in enhancing investor confidence.
- Raceoption offers access to all major financial instruments.
- The minimum investment starts from $1, and the minimum deposit starts from $250.
- Traders can avail up to 100% bonus and three risk-free trades.
- Committed to the best in customer service.
- Also offers CFD products.
- Demo account is a paid option.
- Could improve the choice of assets.
- The absence of a regulatory license from any of the top regulators.
Does Raceoption Offer A Demo?
Yes, Raceoption offers a demo account for all verified account holders.
Can I Use The Copy Trading Tool?
Yes, all three account categories offer access to the copy trading tool.
Is Raceoption Regulated?
Raceoption is registered in Seychelles but is not regulated by any well-known regulatory agency such as the CySEC or the FCA.