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RaceOption review – Is it a scam or not? – Test of the broker
- High bonus
- Social trading
- Accepts international clients
- Free gifts
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Last updated: July 25, 2023
You are searching for an honest review of RaceOption? – Then you are completely right on this page. With more than 10 experience in trading Binary Options, I tested this Broker and give you a review of the conditions. Also, you learn how to trade and open your account. Find out if it is really worth investing money in this company or not.
(Risk warning: Your capital can be at risk)
Quick facts about RaceOption:
| ⭐ Rating: | (4 / 5) |
| ⚖️ Regulation: | IFMRRC |
| 💻 Demo account: | ✔ (only available after the first deposit) OR get a completely free demo account by entering the special promo code ‘BOFREE’ |
| 💰 Minimum deposit | 250$ |
| 📈 Minimum trade: | 1$ |
| 📊 Assets: | 150+ including forex, stocks, CFDs and more |
| 📞 Support: | 24/7 phone, chat, email |
| 🎁 Bonus: | High bonus of up to 100% and more, depending on the deposit amount. Maximum bonus of $10000. $100 no-deposit bonus available with the code ‘BOFREE’ |
| 🎁 Bonus conditions for withdrawal: | 3x turnover of deposit + bonus |
| ⚠️ Yield: | Up to 90%+ |
| 💳 Deposit methods: | Credit Cards (Mastercard, VISA cards), Bitcoin, and more cryptocurrencies, Perfect Money, Skrill, Neteller, Qiwi, WebMoney |
| 🏧 Withdrawal methods: | Credit Cards (Mastercard, VISA), Bitcoin, and more cryptocurrencies, Perfect Money, Skrill, Neteller, Qiwi, WebMoney |
| 💵 Affiliate program: | Available |
| 🧮 Fees: | No deposit fees. No withdrawal fees (only $50 on bank transfers). No inactivity fees. No trading fees. |
| 🌎Languages: | English, Spanish |
| 🕌 Islamic account: | Not available |
| 📍 Headquarter: | Marshall Islands |
| 📅 Founded in: | 2019 |
| ⌛ Account activation time: | Within 24 hours |
Get a free $ 100 no deposit bonus with the promo code “BOFREE” – (Risk warning: Your capital can be at risk)
What you will read in this Post
What is RaceOption? – The broker presented
RaceOption is an international offshore Broker for Binary Options and Forex/CFD Trading. Whether you want to invest short-term or long-term into financial markets, you will find enough options on the platform. The broker RaceOptions belongs to the Race Projects LTD. I have to mention there is not a lot of information about the company.
The advantage of an offshore broker is that they accept customers from everywhere. RaceOption offers 24-hour support in different languages. In addition, they can offer special programs for their clients. For example, you can get a high bonus and trade without verification.
Facts about the Broker:
- RaceOption belongs to the Race Projects Ltd.
- Offshore Broker
- No regulation
- Accept international customers
- 24/7 Support in different languages
(Risk warning: Your capital can be at risk)
Pros and cons of RaceOption
Not all brokers are the same. Some, for example, have low yields but all the trading indicators you can imagine. With RaceOption it’s exactly the other way around. The binary broker offers high profits but not all the indicators you need. The broker is not regulated, but it is still reputable, trustworthy, and secure. Here is an overview of the main advantages and disadvantages of RaceOption:
Advantages:
- High deposit bonus is available
- User-friendly interface
- Free demo account
- Numerous assets to trade
- Low minimum deposit of $250
- Leverage of up to 1:100
- Weekend-trading possible
- Excellent customer support
Disadvantages:
- Not regulated
- Binary options are generally associated with a high level of risk
- Not all indicators are available
Is RaceOption regulated? – Regulation and security of the broker
Although RaceOption is not regulated, it is a serious and trustworthy platform. In our experience and after several years of trading on the platform, we can say that all winnings are paid out on time. In addition, RaceOption takes security very seriously. Payment methods are encrypted and customer data is kept secure.
Here is an overview of RaceOption’s security and regulations:
| Regulation: | Not regulated |
| SSL: | Yes |
| Data protection: | Yes |
| 2-factor authentication: | Yes |
| Regulated payment methods: | Yes, available |
| Negative balance protection: | Yes |
Review of the trading offers and conditions on RaceOption
The broker RaceOptions allows you to trade Binary Options and Forex/CFD on one platform. These are 2 different financial products. For most traders, Binary Options are more popular. The minimum deposit on the platform is 250$ and you only can get a demo account after your first deposit.
At first glance, the platform looks very professional. You can choose long-term or short-term expiry times for binary traders. Trade currencies, stocks, cryptocurrencies, or commodities with this platform. The yield is between 70% and 90%+. It depends on the traded asset class. Furthermore, the spread for Forex/CFD is low as 1 pip and the leverage can be up to 1:100.
Weekend trading is available so it is possible to trade 24/7 with this platform. If you deposit more than 250$ you can get a higher account type for more profit. Also, there is a bonus program. In conclusion, it seems that RaceOption offers all the options which a trader needs to trade successfully in the financial markets.
Get a $100 no-deposit bonus with the code ‘BOFREE’
The conditions:
- Minimum deposit 250$
- Demo account only available after the first deposit
- Trade Forex/CFD and Binary Options on one platform
- Yield between 70% and 90%
- Leverage up to 1:100
- Weekend trading 24/7
- Account types
- Bonus program
Quick facts about the offers:
| Minimum trade amount: | $ 1 |
| Trade types: | Binary Options, digital options |
| Expiration time: | 60 seconds up to 4 hours |
| Markets: | 150+ |
| Forex: | Yes |
| Commodities: | Yes |
| Cryptocurrencies: | Yes |
| Stocks: | Yes |
| Maximum return per trade: | 90%+ |
| Bonus: | High bonus of up to 100% and more, depending on the deposit amount. Maximum bonus of $10000. Use the code ‘BOFREE’ to claim a $100 no-deposit bonus |
| Execution time: | 1 ms (no delays) |
(Risk warning: Your capital can be at risk)
Review of the RaceOption trading platform
The next step in this RaceOption overview is to take a look at the trading platform. As you see in the picture below the platform is very clear and easy to use. In the next section, I will show you a step-by-step trading tutorial.
The platform is available for Webbrowser and Android devices. You can download the app in the google play store. Traders can change between Binary Options and CFD/Forex with only one click and analyze the markets through different chart types. The charts are provided by TradingView. This is a huge advantage compared to other brokers.
Charting and analysis
When it comes to trading successfully, it is necessary to do a chart analysis to get the best entry for your trade. The RaceOption platform offers the tools of the charting service TradingView. You can use technical drawing tools and a huge range of indicators. They are all that you need to do a complete technical analysis.
Another advantage of the platform is the news section. You can read the latest news and trade-economic events with the calendar. Also, there is a summary of different analysis tools for you. On the one hand, traders can do a fundamental analysis with this platform and on the other hand, there are enough tools for a correct technical analysis.
Facts about the trading tools:
- Charts are provided by TradingView
- Huge range of indicators and technical drawing tools
- Market News
- Fundamental News
- Use different strategies
(Risk warning: Your capital can be at risk)
How to trade Binary Options with RaceOption:
From my experience, it is very easy to understand how it works to trade Binary Options. The financial product is so popular because of its easy and clever design. You get a limited risk and possible return of investment. Choose between different time horizons. The price has to be above or under your entry point to get a high yield of up to 90%+.
With Binary Options you can invest in rising or falling markets. In addition, no matter how strong the movement of the market is, in the end, the price of your market and entry point are important. Do a forecast of the market movement and start trading. In the picture below you will see a graphic design of the platform and I will give you a step-by-step tutorial.
Step-by-step tutorial:
- Choose an asset you want on the platform
- The yield depends on the asset class and expiry time of the trade
- Make your analysis and predict the future chart movement
- Choose the expiry time of the trade
- Invest in rising or falling prices
- Earn a high profit or lose your invested amount
- The price has to be below or up your entry point
(Risk warning: Your capital can be at risk)
Open your account with RaceOption
It is very simple to open your account with RaceOption. They accept any customers and you do not need verification because it is an offshore broker. Just type in your real data to open the account in less than one minute. After that, you will get direct access to the trading platform and you are able to do your first deposit.
Get a free $ 100 no deposit bonus with the promo code “BOFREE” – (Risk warning: Your capital can be at risk)
RaceOption test of the deposit and withdrawal
For your deposit and withdrawal, you can use different electronic payment methods. Sometimes the payment method depends on your country of residence. At the moment, you can use methods like a credit card, bitcoin, perfect money, and other cryptocurrencies. The deposit proceeds directly to your account balance.
When it comes to withdrawing your money from unregulated Binary Options Brokers it is sometimes very difficult. RaceOption says that they proceed with their withdrawals very quickly and in less few hours. If you choose a higher account type, your payments will be processed faster. I recommend being careful with offshore brokers and withdrawing your profits directly on the platform.
RaceOption funding methods
Facts about the payments:
- Credit Card (Master, VISA)
- Bitcoin and more cryptocurrencies
- Perfect Money
- Skrill, Neteller
- Qiwi
- WebMoney
(Risk warning: Your capital can be at risk)
RaceOption Bonus Program – Get additional money
RaceOption can offer you a high bonus of up to 100% and more. The bonus amount depends on your deposit amount. Traders can choose if they use the bonus or not. It is a good way to get additional money to the account balance. Then you can trade with more risk for a higher profit.
The bonus is always linked to conditions. You can read them transparently on the platform. The client has to do a turnover of 3 times the bonus in order for the withdrawal. So that can happen very fast if you do day trading. In addition, there are risk-free trades. This means that you can lose one trader, and you get the lost amount as a bonus credited to your account balance.
Facts about the bonus program:
- Deposit Bonus
- Risk-Free-Trades
- Maximal Bonus 10000$/€
- Make a turnover of 3 times
Test of the support and service for traders
The last important point to check in this review is customer support. RaceOption offers 24/7 support and service via live chat. Also, there is the possibility of making phone calls to different international numbers. From my experience, chat support works very fast and professionally. You will get the right answer to your questions.
Otherwise, there is a huge FAQ for your questions and you can get trading tutorials from the support. In conclusion, the big advantage of this broker is the 27/ support in different languages. Only a few brokers offer this concept.
Facts of the support:
- 24/7 available
- Phone, Chat, Email
- Video Support
- FAQ and tutorials
- Available in different languages
| SUPPORT: | OPERATES: | PHONE: | ADDRESS: |
|---|---|---|---|
| Phone, Chat, Email | 24/7 | +442080685335 (UK) +18299476393 (USA) | [email protected] |
(Risk warning: Your capital can be at risk)
Comparison of RaceOption with other binary brokers:
RaceOption is a solid binary broker that you can use and make profitable binary trades with. However, in our comparison, it only received 3.5 out of 5 possible stars. The reason for this is that RaceOption is an unregulated broker. Besides, the maximum return is only at 90%. Nevertheless, there are attractive bonuses available and a total of more than 150 assets to choose from. The user interface is convincing, which is why we can recommend RaceOption. If you are looking for a regulated broker or for better conditions, there are other alternatives.
| 1. RaceOption | 2. Olymp Trade | 3. IQ Option | |
|---|---|---|---|
| Rating: | 4/5 | 5/5 | 5/5 |
| Regulation: | / | International Financial Commission | / |
| Digital Options: | Yes | Yes | Yes |
| Return: | Up to 90%+ | Up to 90%+ | Up to 100%+ |
| Assets: | 150+ | 100+ | 300+ |
| Support: | 24/7 | 24/7 | 24/7 |
| Advantages: | Accepts clients from all over the world | 100% bonus available | Offers CFD and forex trading as well |
| Disadvantages: | Not regulated | Not the highest return | Not available in every country |
| ➔ Sign up with Race Option | ➔ Visit the Olymp Trade review | ➔ Visit the IQ Option review |
Can you trust RaceOption? – Conclusion of my broker review:
In the sections before, I showed you the conditions and how to trade with RaceOption. For me, it seems like a reliable provide for Forex/CFD and Binary Options trading but I have to mention that it is an unregulated offshore company. So please be careful with your deposit and withdrawals. I recommend withdrawing your profit immediately.
On the other hand, an offshore broker got some advantages. You can get a high bonus and start trading without verification. In conclusion, RaceOption offers all tools which a trader needs to trade the markets successfully.
The advantages of RaceOption:
- 24/7 support
- Bonus Program
- Accept international traders
- Yield is up to 90%+
- Different account types with bonus and special tools
- Trade 24/7 on the platform
From my experience, reception is a good offshore broker with competitive conditions. But be careful because there is no regulation.
Get a free $ 100 no deposit bonus with the promo code “BOFREE” – (Risk warning: Your capital can be at risk)
Frequently asked questions (FAQs) about RaceOption:
Is RaceOption a good broker?
Yes, based on our evaluation, RaceOption is a good broker. With a minimum deposit of $250, you can trade binary options, including currencies, stocks, cryptocurrencies, and commodities.
The spreads start at 1 pip and the leverage goes up to 1:100.
A major drawback is that the broker is currently not regulated. Therefore, we have deducted some points from our evaluation.
However, many traders report positive experiences with RaceOption. Here, we can agree. The profits were paid on time and the trading experience was positive. Accordingly, RaceOption can be considered a good broker.
Is RaceOption illegal?
No. Neither the RaceOption platform nor binary options trading is illegal. Actually, it depends on the country and the laws in which the trader is located. Many countries prohibit trading binary options because of the high risk involved.
In some countries, it may be illegal to trade with RaceOption or similar platforms. Traders from these countries can use alternative brokers, which we present on our website.
Is RaceOption regulated?
No, at the current time, RaceOption is not regulated. This is a major drawback of the platform. However, this does not mean that it is a scam. Many traders, including us, report positive experiences and timely payouts from the platform.
What is RaceOption?
RaceOption is a trading platform that offers the opportunity to trade binary options. Traders can benefit from leverage up to 1:100 and have plenty of financial assets to choose from. There are several account types available. Moreover, RaceOption offers an attractive bonus program and a demo account and rounds up its service with competent customer support.
Is RaceOption legal in the US?
No, unfortunately, RaceOption does not offer its services in the USA. Traders from the United States are not allowed to register an account there. This is due to the strict government regulations on binary options trading. Therefore, traders from the USA should look for alternative brokers. On this website, we present many alternatives for American traders.
Is RaceOption safe?
RaceOption is not regulated, which makes the broker look unsafe. But based on our experiences, RaceOption can be classified as safe. Traders get their money paid out on time, and deposits also work without any problems.
Every trader should know that trading binary options involve risks. But this has nothing to do with the platform. Most platforms, including RaceOption, do their best to provide their traders with a good experience.
