RaceOption is an online broker where you can utilize Binary Options and Contracts for Difference (CFDs). Examples of available underlying assets are forex, cryptocurrency, commodities, stocks, and stock indices.
All trading takes place on the proprietary RaceOption trading platform. You can not use any third-party platform, e.g. MT4, MT5 or cTrader. You will not get access to the Demo Account before you have made your first deposit to RaceOption, so you can not check out the trading platform in advance, before you decide if you want to make a first deposit. The minimum first deposit is $250 and a turn-over requirement will apply to your deposit even if you do not accept any welcome bonus.
In essence: In order to check-out what RaceOption has to offer and see if you like the trading plattform, you must first make a $250 deposit – and you will not be able to withdraw this money without fulfilling a trading requirement.
If this sounds unappealing to you, don´t worry – there are many other brokers available online that can be used for binary options and CFD trading under considerably better conditions. We have reviews for plenty of brokers on this site where you get access to the Demo Account without making a first deposit, where the minium first deposit is considerably smaller than $250 (e.g. $10 or $50) and where trading requirements do not apply unles you accept bonus money from the broker.
The trading platform
The trading platform is simple and easy to navigate. The simplicity is a plus for beginners, who may feel overwhelmed at more complex trading platforms.
Technical analysis tools
Technical analysis tools are avaialble, including charts and indicators. The selection can be sufficient for someone who is just starting out with technical analysis and wants to learn the basics.
Traders who are used to more advanced platforms, such as MT4, MT5 or cTrader, may find the technical analysis tool box at the RaceOption platform a bit too meager.
The RaceOption platform supports copy trading.
Mobile apps are available for both iOS and Android devices.
Trying out the RaceOption platform with a Demo Account
RaceOption offers a Demo Account, but you will only get access to it after having done your first deposit. This is an unusual choice from RaceOption, since it means you need to make a deposit without being able to first see if you like the platform or not. Since this is a proprietary platform only used by RaceOption traders, a potential trader will not have any previous experience with it. (It is a bit different when a broker offers access to well-known third-party platforms such as the MT4 and cTrader, since many traders online already have experience with one or more of these platforms when they sign up with a new broker.)
Important: Before you decide to make a $250 deposit to check out the platform, remember that a trading requirement will apply to your deposit even if you do not accept any bonus money.
Trading at RaceOption
RaceOption offers Binary Options and Contracts for Difference (CFDs).
The minimum trade is $0.01.
Underlying assets and products
- Forex. Over two dozen currency pairs are available.
- Cryptocurrency. The biggest assortment is for CFDs.
- Stocks (company shares)
- Stock indices
- Commodities, including metal, energy and agricultural
Types of Binary Options
- High/Low Binary Options
- Ladder Binary Options
Maximum payout on Binary Options
The maximum payout is 95%.
- Rollover. With this feature, you can add extra time to the lifespan of an active option. You pay a fee to use this service.
- Sell-now. This feature permits you to end the option early to lock in a profit or cut your losses. Conditions apply.
Lifespans for binary options
The binary options at RaceOption are divided into three categories based on lifespan: Turbo, Short-Term and Long-Term. The turbo options come in three different varieties: 30-second options, one-minute options and two-minute options. The category called Short-Term is filled with options that are intraday, but not turbo. Since they are intraday (none of them have a lifetime that extends beyond the end of the trading day) they are suitable for daytraders. The final category, Long-Term, includes binary options that will extend beyond the trading day. You can find binary options that will expire the next trading day, later this week, next week, at the end of the month, or even longer into the future.
The maximum CFD leverage with RaceOption is 1:500.
Deposits & Withdrawals
Examples of accepted transaction methods at RaceOption
- Perfect Money
- Bitcoin Payments
- Ethereúm Payments
- Litecoin transfer
- Wire transfer (it can take up to a week to process wire transfers)
The minimum withdrawal amount is $50.
RaceOption does not charge fees to process withdrawals.
Withdrawal processing time
RaceOption are known to process withdrawal requests fast for most of the transaction methods. For e-wallets and cryptocurrency transfers, it is not ucommon for withdrawal requests to be processed within an hour.
Trading (turn-over) requirement
You can not make a withdrawal from your account until you have fulfilled the trading (turnover) requirement. A trading requirement apply even if you have not accepted any bonus money.
If you have not accepted any bonus money, the trading requirement is 100% of the deposited amount.
If you have not accepted bonus money, the trading requirement is 300% of the deposited amount.
The available account currencies at RaceOption are USD, EUR, GBP, AUD, and RUB.
Ownership and regulation
The broker RaceOption is operated by Race Projects Ltd.
Company address: 306 Premier Building, Albert Street, Victoria, Mahe, Seychelles
Company registration number: 11 46 12
The company is based in and regulated by the Republic of the Seychelles, an island nation in the Indian Ocean.
RaceProjects Ltd operates on behalf of FGC, a company holding an umbrella financial service license from the Republic of the Seychelles.
Questions and answers
Is there a welcome bonus?
Yes, the welcome bonus is a 100% match bonus on the first deposit.
If you accept the welcome bonus, the trading requirement is equal to 300% of the deposited amount.
Are trading competitions available?
Yes, this broker arranges trading tournaments.
Will I have Negative Balance Protection?
No, you will not have Negative Balance Protection when using leverage with RaceOption. The Republic of the Seychelles is not a country that requires brokers to provide Negative Account Balance Protection to retail traders.
Are speciality accounts available with RaceOption?
No, everyone uses the same account type with this broker. There is no tier-system in place for accounts.
You can not sign-up for a speciality account here, such as STP, ECN, DMA, MAM, LAMM, PAMM, Indian Demat Account, or Islamic/Muslim Account.
Does RaceOption offer VPS hosting?
No, this broker does not offer Virtual Private Server hosting.