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Broker Review: Race Option
Today I’m looking at a broker rebrand, that still offers guaranteed withdrawals within one hour, Race Option. This offshoot of FinRally, has a very similar design, and offers traders essentially the same platform award-winning platform. One of the main differences, is that under this new brand they are able to accept US clients. I’ve been treated well by other brokers owned by this company, so I hope that continues this time around.
The offices are located at 309 Premier Building, Albert Street, Victoria Mahe, Seychelles. They can be contacted via USA USA (829) 954-8392 and (UK) +44 203 808 8047. To get in touch with support via email, contact [email protected].
Race Option Review
The creators of the Race Option brokerage want to push across the message that trading with their platform is very simple. They tell traders that their success is only 3 steps away. The first step is registration which includes a free gift, funding your trading account and then predicting market direction to win trades. While it comes across as easy, the last step can be quite difficult if you don’t have any experience in the binary options marketplace. After years of manual trading, I rely on some of the best binary options software on the market to provide me with these predictions, so that I can win trades using expert analysis from someone else.
If you’re looking to sign up with this broker, then I would certainly recommend that you utilize the same trading approach that I do. Obviously, if you have trading experience, and you prefer trading manually, then you can do this as well.
- Guaranteed 1 hour withdrawals
- Trader average income $1523 USD
- 100% secured trading
- Weekend trading
One of the most important aspects of any binary options broker in recent times, is the withdrawal process. Race option promises guaranteed withdrawal processing within a single hour. In my time with FinRally, I was happy with the withdrawal process, but it never happened within the first hour of my request. Generally, it would take a day or 2 which is fine, but hopefully under this new brand they have sped up their process.
When signing up with Race Option you have 3 different choices, the bronze account, the silver account and the gold account. Depending on how much you deposit, you fall within a certain range. Anywhere from $250-$1000 will get you a bronze account, 1000 to $5000 will get you a silver account, and anything about that will get you access to a gold account.
All of the accounts are pretty similar, with the only difference being an additional web-based master class and access to an individual account manager. One of the messages that I push across here at binary today with a lot of conviction, is the fact that traders should be staying away from binary options account managers . The simple fact is that effective traders have no reason to seek out a job with a binary options broker, so the likelihood of your account manager to have the skills necessary to grow your account is very small.
Brokers still offer this service because they don’t want to be seen as the only broker that doesn’t, but it’s not the way to win trades.
I had quite a bit of success with the FinRally broker, so I’m confident that Race Option will be just as fruitful. I am happy that they are starting to accept US clients, and that they have kept their current platform because I found it to be quite effective.
If you have any questions, or you want to leave your experiences with this binary options broker, then please leave your comments now.
Race Option Review: is RaceOption a Scam or Legit Broker?
Race Option launched in 2020. The broker offers binary options, forex and CFD trading. They are owned by Affort Projects S.A, with a registered address at 309 Premier Building, Albert Street, Victoria Mahe, Seychelles. US Traders are also welcome to use there platform. Their contact phone number for the USA is +18499370831 and for the United Kingdom is +44 20 3808 8047. There are numbers for other locales.
Race Option Trading Platform
Race Option login uses an intuitive and unique platform, which is sleek and smooth on executing trades. Numerous assets are available for trading on this platform ranging from currency pairs, stocks, commodities and indices. The platform is web and mobile based and no download is required. They also have apps for mobile.
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The RaceOptions platform also offers the social trading feature where you could copy the trades of top earning traders. You can also make money trading cryptocurrencies like bitcoins with this broker > learn more here
Withdrawal and Deposit Method
Race Option withdrawal and deposit methods could be carried out by the following means: Visa, Wire transfer, bitcoin, Neteller, Skrill, Perfect Money, WebMoney, Qiwi wallet, Mastercard, Yandex money.
The minimum deposit is $250 and withdrawal request is processed in an hour.
- Bronze: Minimum deposit of $250 plus 24/7 live video chat support, free demo account, and also copy trading tool to copy trades of successful top traders.
- Silver: Minimum deposit of $1000 plus with all features of Bronze account in addition to a master class in form of web sessions and also an individual account manager
- Gold: Minimum deposit of $3000 plus all the features of Silver account and integrated technical analysis.
Race Option is a trusted broker, with amazing features and support system. They could be reached through live chat, phone and email.
RaceOption Review – is it scam or safe?
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Trading Accounts & Conditions
|Account type||Minimum deposit||Maximum leverage||Spread||Bonus|
|Standard||$250||1:100||Fixed at 2.0 pips||No|
|Bronze||$1 000||1:100||Fixed at 2.0 pips||20%|
|Silver||$3 000||1:100||Fixed at 2.0 pips||50%|
|Gold||$50 000||1:100||Fixed at 2.0 pips||100%|
RaceOption is a belongs to a new generations of brokers offering trading in both forex and binary options on one and the same platform. It also focuses on the hottest assets on financial markets, cryptocurrencies, such as Bitcoin, Ethereum, Ripple, etc.
The broker offers the above account types and it appears that the higher initial deposit only means a higher on-deposit bonus, instead of better trading conditions. Overall, the leverage ratios RaceOption provides are reasonable and its spreads are in line with the industry’s averages.
In the present review we will focus on the CFD trading aspect of RaceOption.
Web platform with good charting
RaceOption offers its clients a web-based platform that slightly resembles SpotOption. It is simple to use, and traders can easily switch from the Forex/CFD to Binary interface and vice versa. What makes this trading interface seem nice is the great charting provided by TradingView, and all the perks that come with it – technical analysis, economic calendar, etc. Here is a preview:
RaceOption’ Forex/binary options web platform. Click on the image to zoom in.
Besides, mobile apps and copy trading service are also available, which is also a plus.
Many tradeable instruments
Apart from offering both forex and binary options trading, this broker covers a lot of asset classes, including many currency pairs and wide range of crypto CFDs, as well as silver & gold. That being said, you can trade in Bitcoin with leverage up to 1:5.
Wide range of deposit and withdrawal methods
Clients of RaceOption are able to use many payment methods, including credit/debit cards, Skrill, Neteller, PerfectMoney, as well as Bitcoin, Ethereum and several other altcoins. On top of that, RaceOption promises to process withdrawals within 1 hour, which sounds really good.
Keep in mind that credit card withdrawals are charged with 5% fee, and those by international wire transfer – $50.
Registered offshore, part of FGC
According to the information on its website, RaceOption is operated by Race Projects Ltd., a company registered in the Seychelles, which acts as an agent of another offshore entity – Finance Group Corp. The latter is registered with the Vanuatu Financial Services Commission (VSFC). Don’t be fooled by what is often referred to by dubious brokers as a Vanuatu “license” – this is just a shiny piece of paper anyone with $2,000 in his pocket can get.
That being said, we have reviewd several other brokers affiliated to Finance Group Corp (FGC) and they are all unregulated BinaryCent, BinaryMate, binary options robot Ackman Capital, and others.
Trading with brokers registered offshore is very risky, because they are not licensed, nor monitored by any governmental agency. Besides, as most of you probably know, large percentage of them are scammers who hunt for gullible investors.
MetaTrader 4 platform not supported
Many brokers support the MT4, even if they have developed a platform of their own. The reason for this is that many traders are used to the advanced features of this software and love it. This, however, is not the case with RaceOption.
Relatively high initial deposit required
In order to open an account with RaceOption, one has to deposit at least $250. Such initial investment required is slightly high, considering that this broker is not properly regulated. By comparison, you can start trading with easyMarkets by depositing just $100.
An offshore broker offering trading in both forex and CFDs, as well as binary options, RaceOption is not the best option on financial markets. Although it offers trading in many asset classes, including cryptocurrencies, and has some good charting, what RaceOption lacks most is reliability. And reliability comes with solid financial regulation, and years of experience that have lead to good reputation.
If you are tempted by RaceOption;s crypto offering, here is a list of licensed forex brokers who also offer Bitcoin CFDs.
In case you are an inexperienced investor and would rather copy someone else’s strategy, there are properly regulated alternatives like Tradency’s RoboX, or eToro, the largest social trading network .
Now, let’s sum up the strong and weak sides of RaceOption:
|Web platform with good charting||Offshore broker, part of the FGC group|
|Many tradeable instruments||Relatively high initial deposit required|
|A lot of payment methods||MT4 not suported|
|High withdrawal fees|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
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