RaceOption: A Scam? Review 2024

race-option

$250

Min Deposit

0.0

Min Spread

2017

Foundation

4/10

Broker Trusted Points

None

Regulation

Introduction 

RaceOption is an eCommerce trading network founded in 2017 and operates globally.

It provides services to traders across the planet. We have gained popularity through these, mainly due to our full-featured portfolio, which trumps other platforms, and our use of cutting-edge technologies and fair pricing systems.

By maintaining accessibility as the crucial element and introducing new and unique options, RaceOption makes it possible to continue to be the elite platform for investors searching for trading through multiple options.

The core of RaceOption’s business ideology is to reward novice and professional traders with transparent and secure conditions. Due to this, the company has been rapidly growing in popularity.

BrokerRaceOption
Websitehttps://RaceOption.com/
Registered CountryUSA, UK, Germany, Australia, and Switzerland
Founded In2017
RegulationNone 
Minimum DepositGold Account:$5000  Silver Account:$1000 Bronze Account:$250
Maximum Leverage1:100
SpreadsStarting from 0 Pips
Commission1%-2.5%(unleveraged CDF assets)Upto 5% (for leverage trading positions.)
Trading PlatformsIn-house trading platform, MobileApp.
Trading AssetsIndices, commodities, stocks, and currency pairs.
Demo AccountYes 
Islamic AccountNo
Payment MethodsWire transfers, Credit/ Debit cards, VISA, Bitcoin, Ethereum, and Altcoins
Customer Support24*7

Pros and cons:

Here are a few pros and cons of RaceOption, making it easier to understand the RaceOption platform.

Pros Cons 
A diverse range of financial instruments are available.The broker cannot eliminate admin fees 100%.
Diverse account types are available for the traders.Experienced traders need more advanced trading tools.                                  
The broker provides user-friendly platforms.Payment methods may affect withdrawal times.           
Responsive customer support.Limited educational resources compared to some competitors.                                
Provide demo accounts to the newbie traders.It is not regulated.  for a regulated and turstworthy broker, you can checkout Capitalix

Trading Assets

With different asset and market conditions, the advisor’s active and passive strategies will vary.

Here are the trading assets provided by the broker to the traders.

Forex

RaceOption is the storehouse of the forex market.

RaceOption brings about a trader’s diversity of options in FX market currency pairs. Using good spreads and leverage, RaceOption enables you to find your perfect Forex trading system that will give you a chance to improve your positions dramatically.

Indices

RaceOption offers access to a broad gamut of global indices, thus infusing flexibility to trade on the stock-based indexing performance of mask lines from across the globe. It allows traders to take their pick of stock indices.

The broker mainly refers to the principal indices, such as the S&P 500, the DJIA, and the FTSE 100.

Commodities

The platform provides a wide range of commodities for those interested in purchasing plain metals or energy sources such as oil and gold, among others. 

Traders also have the advantage of engaging in spot and futures contracts, which makes them accessible to trade commodities.

Stock

RaceOption allows investors to trade the stocks of major international enterprises. Traders can enjoy a high trading currency with the major exchanges due to the opportunity to exploit market movements based on an underlying company’s expectations.

RaceOption emerges as one provider offering a range of digital currencies among several assets that are crucially important for crypto traders who aim to tap into the new market. Traders, moreover, may also gain entrance into bond CFDs, which help diversify their portfolios.

Leverage

RaceOption allows traders to use leverage flexibly, capitalising on their positions by extending them to the maximum, thus enhancing their trading profits.

On the contrary, investors ought to fully assess the dangers that arise from the margin and consider them intelligible.

Account types:

There are three types of accounts on RaceOption; those are described in the following table:

     Gold Silver Bronze 
Min. deposit$5000$1000$250
Chat support24*724*724*7
Withdrawl time1 hour1 hour1 hour
Bonus +100%+50%+20%
Access to demo accountYes Yes Yes 
Access to Copy trading toolYes Yes Yes 
3 Risks: Trade-FreeYes Yes No 
Web sessionsYes Yes No 
Persona success manager Yes No No 

Platform 

RaceOption provides an in-house build platform to the traders.

RaceOption offers a user-friendly trading platform accessible via web and mobile applications, providing traders with seamless access to the financial markets anytime, anywhere.

Although it may raise a concern that MT4 and MT5 are some of the best and most used platforms by many other brokers and not by RaceOption, this is a point to note.

Mobile app:

The RaceOption mobile apps are available for iOS and Android devices, offering full functionality and real-time trading capabilities on the go.

Traders who prefer to trade on the go will appreciate RaceOption’s easy-to-use mobile apps that are mobile-friendly.

 Mobile apps permit a trader to trade from anywhere, watch the market, and manage their account as if on a trading floor.

mobile app of raceoption

Payment Methods

RaceOption supports a variety of payment methods for deposits and withdrawals, ensuring convenience and flexibility for traders worldwide.

Such as Bitcoins, Ethereum, Debit and credit cards.

Funding & Withdrawal Fees

The traders can handle their deposit and withdrawal transactions differently; they use bank transfers, credit/debit cards, and e-wallet online payment services.

In most debit cards, deposits may not include any charges, but withdrawal fees may fluctuate  depending on the payment method described.

funding and withdrawal fees of raceoption

Security & Regulation

RaceOption, a trading platform, puts traders’ fund and private information safety first, utilising state-of-the-art encryption protocols and ensuring secure, solid measures.

Besides, there is platform governance by the best reputable financial authorities where the platform complies with industry standards.

Educational Content

RaceOption contains many educational materials, such as video tutorials and webinars, and gives traders tool kits to develop their trading skills.

These instructions and explanatory tools are indispensable for potential traders aiming to bolster their marketing efficiency.

However, the webinar and educational content are being provided to Gold and Silver account holders.

Promotions

RaceOption repeatedly has some promotional activity to reward traders for their loyal and active trading. These promotions can be offered in various forms, such as auction bonuses with cashback provisions and challenges announced with trading competitions. 

For instance, a giveaway and an online contest are live on their website.

giveaway contest of raceoption

24/7 trading hours shape the environment so traders can get their jobs done at a suitable time.

Timezone relationships are not ignored because RaceOption allows traders to participate in any market within or outside their business’s start and end hours.

How to make an account at RaceOption?

Step 1:  Go to the RaceOption website.

Step  2 Click on How to Start? 

Step 3  Click to open an account.    

Step 4  Now, sign up for your new account. 

Step 5 Fill out all the required fields in the signup box.

open an account at raceoption
sign up process at raceoption

Customer Support

Their support team delivers assistance 24/7 on multiple channels, which helps yield on time and provide the best solutions.

Phone numbers: +18299476393, +442082685335, 3-395-0396, 081-855-7055, +7-499-703374.

Or the traders can write an email to them, and their support team will respond.

We believe the customer support is less active than the broker mentioned.

contact support of raceoption

Conclusion

RaceOption provides a versatile trading platform that transcends timezone boundaries, enabling investors to participate seamlessly in global markets.

Thanks to its user-friendly interface, diverse asset offerings, and robust support, RaceOption empowers traders to navigate the complexities of the financial world with confidence and efficiency.

FAQ:

Is RaceOption regulated?

No financial government authority regulates RaceOption.

Is RaceOption legit?

The legitimacy of the broker could be better in some situations.

How do you cash out on RaceOption?

Go to the RaceOption website, open your account, and choose the option Top up your account. Click on the option and search for withdraw my funds, and you can cash out on RaceOption.

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