RACEOPTION REVIEW 2023: IS IT WORTH IT?

Raceoption is based in the Marshall Islands, but its traders are spread far and wide around the world.

It is essentially a CFDs and binary options broker.

Raceoption homepage 

The best part of Raceoption is that it has both mobile and online web-based trading options.

All of this sounds like Raceoption is excellent, but if I were honest with you, this is not the case.

I have used Raceoption, and let me tell you that it is not beginner-friendly.

Yes, it is user-friendly, but not so much for people just starting.

We cannot be sure whether this broker is a scam or not, but we can indeed analyze it further.

So, let’s look at how it works.

HOW DOES RACEOPTION WORK?

Did you know that Raceoption offers more than a hundred trading instruments?

It is always fascinating to know how a broker works.

We need to know how our chosen platform works to understand it fully.

Let’s go through the main details now. 

Raceoption has many features and instruments, including forex, shares, indices, and commodities.

Let’s have a look at some of these.

Some of the financial markets you can trade here are as follows:

Forex 

These include more than 25 currency pairs, including both major and minor ones. Such as:

• EUR/USD
• GBP/USD
• USD/CAD
• USD/TRY
• USD/RUB
• NZD/USD
• AUD/USD
• GBP/CHF
• AUD/CHF
• CAD/JBP and more!

Stocks

You can trade more than 50 shares and stocks, including

• IBM
• Apple (US)
• Amazon Inc.
• British Petroleum (BP)
• Nike (US)
• Microsoft (US)
• Amazon
• Disney
• Tesco
• Nissan
• Coca-Cola (US) and more!

Commodities and Metals

Some of these include

1. Gold
2. Silver
3. Platinum
4. Sugar
5. Coffee
6. Crude oil etc.

Indices 

Raceoption has some of the most popular indices, such as

1. S&P 500
2. DOW (US)
3. MSM 30
4. DAX 30
5. FTSE 100 and more!

HOW DOES THE RACEOPTION PLATFORM WORK?

Raceoption is a user-friendly broker once you get the hang of it, as I mentioned before.

It was certainly not easy for me in the beginning, but once I got used to it, it was pretty easy to navigate.

But I guess one can get used to anything, and it will become easy.

Let’s look at how the platform works to understand it further.

Raceoption has a web platform which allows you to trade multiple assets.

The benefits of the platform include:

• Drawing tools
• Multiple time frames
• More than 30 technical indicators (more on that in a while)
• An entire trading history
• Charts by TradingView
• Copy-trading tool to mimic other experienced traders

Unlike most brokers, however, Raceoption does not offer a user guide.

Nor does it offer a third-party solution such as MetaTrader 4 and MetaTrader 5.

Raceoption platform page

You know what Raceoption is, but how does the platform work?

Let’s go through some general steps to kick-start the process.

These are pretty simple, so I am sure you will understand them upon the first read.

• Select the asset you want to trade. Go through the dropdown menu for these
• Use the charts to analyze real-time performance as well as the previous trading history
• View market conditions, showing the percentage of buyers and sellers
• Select a suitable expiry time and enter the amount that you want to trade
• Click on the Buy option if you believe the price will increase. Otherwise, click on the Sell option if you believe that it will drop
• That’s it! All you have to do now is collect your payout as a percentage of your invested amount.

Raceoption is available on both Android and iOS.

Mobile applications will allow you to access your trades instantly, anywhere.

Raceoption platform page 

WHAT TRADING INDICATORS ARE AVAILABLE?

As a trader, I am sure you know how indicators work.

If not, let me tell you that technical indicators provide signals traders use to predict future price movements.

They play a big role in technical analysis.

Some of the essential indicators available on Raceoption are:

• Bollinger bands
• Moving average convergence divergence (MACD)
• Simple moving average (SMA)
• Relative strength index (RSI)
• Commodity channel index (CCI)

1. BRONZE ACCOUNT

The account requires a minimum deposit of $250.

You can get a 20% bonus with a bronze account.

You have the option of a copy trading tool.

I used it and it was fine.

I was able to copy trades and execute them without any hassle.

2. SILVER ACCOUNT

A silver account requires a minimum deposit of $1000, with a 50% bonus opportunity.

The withdrawal time here is about an hour.

You also get three risk-free trades at the beginning and a masterclass on trading.

3. GOLD ACCOUNT

A gold account requires a minimum deposit of $3000 and a 100% bonus opportunity.

You also get three risk-free trades here as well as a masterclass that is web-based.

The gold account also includes a personal success manager.

Raceoptiton accounts page 

All three accounts have the following standard features:

• Live video chat
• Copy-trading tool
• Demo account

More details on the bonuses mentioned above are given in the following sections.

DOES RACEOPTION OFFER A DEMO ACCOUNT?

Demo accounts in Raceoption are available for all three account types.

But these are not for free.

Nonetheless, the benefits of this broker’s demo account are:

The demo account, no doubt, provides clients with real-time experience.

You must deposit the initial amount before accessing the demo account.

Yes, it is very confusing and kind of defeats the purpose of a demo account, but at least you will get some experience.

I would say that their demo account is not practical.

HOW SAFE IS RACEOPTION?

It is entirely normal to question the safety of this broker.

After all, it is on the internet, so how secure can it be?

Is Raceoption regulated?

If so, then by whom?

Unfortunately, Raceoption is not regulated by any official authority.

Ideally, you want your broker to be regulated.

But Raceoption is not regulated.

I did not like this aspect of the broker.

If you are looking for a regulated broker, see Pocket Option.

Raceoption is registered to a location in the Marshall Islands.

WHO OWNS RACEOPTION?

I am sure you are wondering who owns Raceoption.

Instead of a name, let me tell you the exact company that runs Raceoption.

I did some digging into it.

Let me take out my glasses!

Raceoption is operated in particular by Makerun Corp.

Their headquarters are based in the Marshall Islands.

The funding time is instant, which is a plus.

I did find it good because I need to fund my account quickly to start with the broker.

The deposit methods are:

1. Bank transfer – Visa, MasterCard
2. Bitcoin
3. Ethereum
4. Other altcoins

Ideally, the processing time is instant, but any holidays or long weekends can cause a delay in processing.

It will not be an issue if you time your deposits correctly.

The withdrawal methods are also quite simple and convenient.

The withdrawal methods are the same as for a deposit, i.e., you can use a credit or debit card.

There is no withdrawal fee either.

The withdrawal process takes up to an hour.

However, it took six hours for my withdrawals to come through.

Raceoption funding and withdrawal page 

You can either:

• Call
• Fill out the web form
• Email

You can contact five numbers:

1. +18299476393 (US)
2. +442080685335 (United Kingdom)
3. 3-395-0396
4. 081-855-7055
5. +7-499-7033774

Lastly, you can email them at support@Raceoption.com.

Looking at the recent contests held, I found out that 40 winners were eligible to receive a prize from a fund of $20,000.

Remember to keep a lookout for such contests.

Who knows, you might win!

Not every broker offers promotional packages, so we can say this is a plus point for Raceoption.

Raceoption special offers page

DOES RACEOPTION OFFER BONUSES?

Many brokers offer their users bonuses.

It is an excellent way of giving back to their traders and a smart way of loyalty reinforcement.

Raceoption also does this.

Let’s look at some ways you can get a bonus.

After registering for an account, the first benefit is that the trader receives a gift.

Currently, this amounts to four training videos.

Deposits of funds between $250 and $999 will get a 20 percent bonus.

Deposits of funds from $1,000 to $2,999 will get a 50 percent bonus.

Deposits of funds from $3,000 to $50,000 will get a 100 percent bonus.

Raceoption special offers page

If you think about it, a broker can’t enforce different tax policies for all the countries in which its traders live.

Raceoption does not mention anything about its tax policy on its website.

I opened an account with Raceoption out of curiosity.

After visiting its website, I knew the broker wasn’t regulated.

But I wanted to give it a shot to experience the overall trading conditions.

I opened a bronze account.

There are plenty of assets available for trading.

However, the platforms and the trading tools are basic.

Customer support was the only thing I would give five stars.

Surprisingly, they do have an office in the US but don’t provide trading in US territory.

They do provide a copy-trading tool, though.

I used the tool, and the overall performance was acceptable.

One of the major problems was withdrawals.

It took me six hours to get a withdrawal, even though the website says within one hour.

So, I think the broker is between the good and the bad.

Let’s see what others have to say about Raceoption.

Does Raceoption have a rollover?

The rollover and sell now features are two more tools available to traders. These allow traders to extend current trades or sell out to lock in profits/cut losses.

Can you use Raceoption in the US?

Raceoption is neither licensed nor approved by US regulators, preventing the firm from providing its services to US traders.

What is Double Up in Raceoption?

The Double-up feature allows you to double your investment in your preferred option. When you double up on a trade, you will obtain a copy position with the same asset, direction, and expiration time but a different open price. The current market price will open new positions.

Final thoughts

There you have it.

A thorough review of Raceoption.

We discussed everything from the unique features of Raceoption to the indicators it uses, the products it offers, how the platform works, and a lot more.

In my opinion, Raceoption has several positive features. However, they should all be taken with a grain of salt.

After all, safety is traders’ first concern, and no official authority regulates this broker. Quotex is another unregulated binary options brokers to consider.

Food for thought!

I hope this has helped you make your decision.

Feel free to go over the review again before deciding.

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