RaceOption Review
Introduction
RaceOption is a state of the art broker that stands out from its competitors with a modern online trading platform. Launched in 2014 and based in London they are one of the few brokers to accept customers trading from all nations, including the US.
There are more than 150 assets available to trade in multiple currencies including EUR, RUB, USD and GBP and a choice of languages including French, Spanish and Russian. The website offers up to 90% pay-outs and 100% deposit bonuses depending on the account you sign up for.
With a fully online trading platform and a handy mobile app, RaceOption has used the market's demands to tailor its services to the wants and needs of the trader with benefits including the bonuses and payouts on offer, 1-hour withdrawals, and a mobile-friendly platform allowing users to trade anywhere at any time.
Account Options
At RaceOption things are kept simple with the option of just three types of account, Bronze, Silver and Gold. These also all come with a free demo account giving you the chance to test out your skills before trading with real money.
Bronze Account
With a minimum deposit of $250 required you will receive a 20% deposit matching bonus along with a trading course and demo account to allow you to try out what you’ve learnt. 1-hour withdrawals are standard across all accounts and once your account is open RaceOption will send you a free gift along with your match deposit bonus. The Bronze account is an excellent entry level account for the less experienced trader.
Silver Account
The most popular of accounts amongst their traders, the Silver account requires a deposit of $1000 and comes with a bonus potential of 50%.
With all the benefits of the Bronze account plus 3 risk-free trades, trading protection and access to an online masterclass, it’s easy to see why it’s so popular. Suitable for the beginner and the more experienced trader, the Silver account has most bases covered.
Gold Account
A minimum deposit of $3000 will get you a Gold Account and a deposit matching bonus of 100%. It includes all the benefits of the Bronze and Silver accounts along with the addition of your very own Personal Success Manager and integrated technical analysis to help you make the best trades and improve your technique. The Gold account is perfect for those looking to hone their skills and advance to the next level of trading.
Trade Types And Payouts
RaceOption offer several trade types suited to both the beginner and more experienced trader, which are detailed below. All of these are available at the touch of a button on their web-based platform:
High/Low Trades
One of the most widely used binary options trades, High/Low or Call/Put, is very simple to execute and well suited to traders of any experience level. They require you to predict whether the asset will be higher or lower than it was when you began your trade. If you’re correct, you’ll gain a payout.
60 Second Trades
As the name suggests, you only have 60 seconds to make your trade with these trades. If you can spot and seize the right moment to make your trade you can expect to see a payout. Although the trades are fast you might need to take some time to watch the markets to ensure you know when the time is right.
Ladder/Pair Trades
Ladder/Pair options offer the potential to allow for more payouts although these will not be as high as the previous two trading types. You need to trade anywhere within the price points provided to yield results.
One-Touch Trades
Like the 60 second trades, One-Touch is another simple way to trade. These aren’t about making trades at the touch of a button but instead being able to predict a price point that the asset price will touch before the expiry time.
Long Term Trades
Unlike some of the other trade options, Long term trades are not based on predictions made within seconds. Instead, you’re playing the long game, waiting up to a week as you predict where the asset price will fall over several days. Some patience will be required as the results will inevitably take longer to show.
Payouts
Payouts with RaceOption start as low as 60% with a minimum withdrawal of $50 and can reach a maximum of 90%. You might have seen some higher payouts elsewhere in the trading community but RaceOption is comparable to the market overall.
Bonuses and Incentives
There are several bonuses available at RaceOption, some, like the deposit matching bonus, come when you simply open an account while others are earned by participating in certain trades.
A lot of the potential bonuses will depend on the type of account you start with. As already mentioned, a Bronze account offers a 20% initial bonus for investing between $250-$999. Silver will get you a 50% bonus with an investment of $1000-$2999 and a Gold account will give you the most with a 100% bonus after you invest $3000 to a maximum initial investment of $50,000.
Silver and Gold account holders can also take advantage of 3 risk-free trades which prevent you from losing money in the event you make an unsuccessful trade and give you valuable experience to hopefully enable to gain more payouts in the future.
There is also the option to participate in RaceOptions monthly trading contest offering $20,000 worth of prizes and a referral programme for friends and family that earns you commission from their deposits.
Advanced Features
With its already advanced online training platform and mobile trading app, RaceOption has made a name for itself as one of the front runners in an ever-growing technological market. A 24/7 live multilingual video chat support and copy trading tool as standard across all accounts has already set the bar high.
Add in the introduction of their education centre, 1-hour withdrawals and demo accounts and you’ve got a comprehensive package which RaceOption continues to develop with it’s traders to ensure they’re delivering the best service.
Mobile Trading Experience
In the modern fast-paced world where we want everything at the click of a button from our food delivery services to our banking, RaceOption once again delivers what the busy trader wants.
As well as an intuitive and easy to use desktop site they also offer a fully responsive mobile site and app. The app is available on all devices and can be downloaded from both the apple and android app stores and is designed to allow you to stay connected and up to date with the global markets, never missing a trade.
With all the pros of a desktop site at your fingertips, it allows for immediate execution of trades, live CFD charts, access to your entire trading history and with the same login as the web-based platform, it couldn’t be easier to access and use.
Deposits and Withdrawals
RaceOption has made it easy to fund your account with multiple options and funds available immediately (once confirmation is received by the payment system), the minimum deposit is $250 and can be made with credit cards such as Visa and Mastercard, bank transfer and several cryptocurrencies including Bitcoin, Ethereum, Litecoin, Altcoins, Neteller, Skrill and Perfect Money.
Withdrawals are where RaceOption set themselves apart from their competitors with a 1-hour withdrawal service giving you access to your funds almost immediately as opposed to the majority of other brokers where withdrawals can take 24-72 hours.
Customer Service
With 24/7 live video chat support available in multiple languages to cater for RaceOptions diverse clientele, there’s always someone on hand at RaceOption to help when you need it. You can also contact them by phone or email, unlike many other sites, it’s easy to find their details with their telephone number prominently displayed on each page.
There’s also a handy Frequently Asked Questions section covering lots of the most common queries and questions which is definitely worth a look, you might find your question has already been answered by one of RaceOptions knowledgable team.
Email: support@raceoption.com
Phone: +44 208 068 5335
Address: Finance Group Corp, 2nd Floor, Transpacific Haus, Lini Highway, Vanuatu
Verdict
After reviewing all of the areas above it’s easy to see why RaceOption has quickly grown into one of the most popular online brokers, with over 10,000 transactions processed daily and 100% secured trading with full data protection they’ve also shown themselves to be a reputable name in the market.
They’ve chosen to keep their account options simple making the choice for the trader very straight forward and with their easy to use platform and convenient mobile trading app it means you’re able to access your trades at any time; with their quick and easy 1-hour withdrawal, you can access your funds just as simply as well.
They offer a good level of customer service support and are well suited to both beginner and more experienced traders. While their lowest initial deposit may seem high at $250 you can always contact them for a free demo account to test out the platform before you commit.