Raceoption Deposit: Minimum Amount & Steps to Do it

What is the Minimum Raceoption Deposit?

To start using trading platforms, users typically need to have a minimum amount of money in their account. This process is similar to opening a bank account, where you have to deposit a specific amount of money with the banking institution before they can open one for you.

The minimum deposit amount is not fixed and varies from broker to broker. The absolute minimum deposit is $10, which will grant you no memberships but will allow you to trade on the platform.

Raceoption’s minimum deposit amount to achieve a Bronze membership is $250, which is higher for brokers. Understandably, this is a barrier for many people, but it’s well worth the investment when you get an account on Raceoption.

This is because, with a Bronze membership, you can expect a 20% bonus and access to copytrading. Meanwhile, their minimum trading volume is only $1, and their minimum withdrawal amount is $50.

Deposit Fees for Raceoption Deposits

As you may already know, trading platforms charge a fee for every deposit you make. It’s one of the ways that they make money, and the amount varies from platform to platform. In some cases, the platform may not charge any fees, but you might still have to pay a fee if a third party powers your deposit method. This is precisely how Raceoption operates.

While it does not charge users any deposit fees, they may still be inclined to pay them depending on their deposit method. These fees also vary from deposit method to deposit method. Here’s a breakdown of the different deposit fees on Raceoption. Credit and debit card deposits sometimes have a 5% deposit fee, while international bank transfers could require as much as $45.

Cryptocurrency deposits don’t command fees, but you will still need to pay gas fees, which vary from blockchain to blockchain. So, while you won’t pay any deposit fees to Raceoption, you will most likely pay them to the third-party services that power the deposits.

Keep this in mind when making deposits on the platform, and endeavor to choose the option that is cheaper and more preferable to you.

Raceoption Deposit Methods

I briefly covered deposit methods in the previous section but I’ll provide more details about them here. Raceoption supports three payment options: Bank cards, Electronic payments, and Crypto payments. Let’s take a closer look at them below.

The first option is bank cards. This option lets you fund your Raceoption account using your credit or debit card. The entire process takes less than 5 minutes, and all you have to do is follow the on-screen instructions to complete the process. Furthermore, this option allows you to fund your account with either fiat or crypto, giving you the choice you’re unlikely to find on other platforms.

You can fund your account with fiat using your Visa/Mastercard or crypto using Changelly or Paybis (two crypto platforms that support crypto purchases via credit/debit cards). Note that the bank card deposit method charges a 5% deposit fee regardless of whether the purchase is in fiat or crypto.

Next, electronic payments are a great option if allowed in your country. You can also deposit money into your Raceoption account via an e-payment service. However, this option is only available to users from certain countries, such as Egypt, India, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Turkey, Ukraine and Uzbekistan. This is how it works.

Once you choose this option, an e-payment service based in your supported country will generate payment account details into which you will transfer money from your bank app or its online service. Like the bank card method, this method takes less than five minutes to complete. All you need to do is follow the on-screen instructions, and you’ll be done in no time.

Finally, a broker would only be complete with an option for a cryptocurrency transfer. Lastly, you can fund your Raceoption account with crypto from an external wallet. Raceoption supports the most popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Tron, BNB, Paxos, Dash, Zcash, Bitcoin Cash, and Stablecoins (USDT, USDC, and TrueUSD).

If you choose this method, a wallet address will be generated to pay from your external crypto wallet. Since no third party is involved with this option, you will not pay any deposit fees, but you will have to pay the gas fees that come with every crypto transaction. Crypto transfers are typically fast, but several factors, such as network congestion and downtime, can affect the speed.

How do you deposit money into your Raceoption account?

Now that we’ve covered the deposit fees and various options available on Raceoption let’s discuss how to deposit money into your Raceoption account. It’s a quick process that should take you no more than five minutes if you follow these step-by-step instructions:

1. Log in to your Raceoption account. Open your browser and put “Raceoption” in the search bar to navigate to its website. Once on the landing page, click the login button to log in to your Raceoption account.
2. Once you’ve successfully logged into your account and are inside your Raceoption account dashboard, look for the Add Funds button and click it. You’ll find this button on the right side of your screen.
3. After clicking the Add Funds button, the Raceoption deposit page should appear. Here, you will see all the different deposit options on the screen. Click the one you prefer. If you click the Bank Card button, you’ll see options to purchase crypto with your bank card or fiat with your Visa or Mastercard. If you choose the latter, you must pick a deposit amount and then fill out a form with your details, after which you can proceed. If you choose the former, you must pick a deposit amount before a deposit address is generated so you can send the funds via the Changely or Paybis platform.
4. On the other hand, if you click the Electronic Payments button, you must pick a country and an e-payment service from the options provided. Once you’ve done this, select the amount you want to deposit and click the Fund Account button.

Once you do this, you will be redirected to another page where you may be required to fill out a form with your credentials. Once you’ve done this, you’ll get an account address to send the funds from your bank app or internet service.

If you click the cryptocurrencies button, you’ll have to pick the crypto you want to deposit using the options provided. After that, select the amount you wish to deposit. A wallet address will be generated for you, and you will send the crypto from an external wallet.

Once you’ve successfully transferred the crypto from the external wallet to the provided address, click the I’ve made a Deposit button at the bottom of your screen to complete the process.

How Long Does the Deposit Take to Complete?

Deposit time and how long it takes for the money to enter your Raceoption account depend on the deposit method you use. The process is usually instantaneous, but sometimes, it may take longer than usual, meaning a few hours.

For example, a bank card deposit may take longer than usual if the network is wrong or the service provider is experiencing downtime. The same is true for e-payments. Additionally, you might experience some delays during weekends and public holidays.

Crypto payments don’t usually have these issues, but they can also be delayed if the blockchain is experiencing an outage or network congestion. Contacting support is your best option if you need to wait longer than a day.

Final Words

Raceoption has a smooth and easy deposit process, with the only downside being the minimum deposit amount required.

While I believe that the deposit process is one of the best things about the platform and also what makes it stand out from the competition, it is also important to note that some factors could affect the overall experience, such as downtimes, network issues, and outages which could cause delays.

These factors are mostly the fault of the external service, but they still play a part in the overall experience, which is why you must be aware of them. While depositing on the platform, consider all the facts, such as the deposit fees and deposit time, before picking a deposit option. This way, your experience isn’t hindered as much.

Sign up for Raceoption here.