RaceOption review – Should you sign up? – Test of the broker

Rating:Assets:Minimum deposit:Return:
4 out of 5 stars (4 / 5)Binary Options, Forex, CFDs$ 250Up to 90%+

Trading online does involve some price. It can be the price you pay when you lose your trade. Or, you might also suffer if your broker turns out illegitimate or a scam. Thus, before beginning to trade with any broker, a trader must know the reviews. 

Raceoption is a broker that is gaining market momentum. It is adding millions of investors every day to its client base. You might feel tempted to join such a huge client base of Raceoption. 

But, before doing so, you must check out the reviews to have the best trading experience. 

(Risk warning: your capital can be at risk)

Particulars Availability
Demo accountYes
AssetsStocks, commodities, cryptocurrency, binary options, forex.
Minimum deposit$250
Minimum withdrawal$50
Payment methodsBank transfers, cryptocurrency, debit cards, and credit cards
Mobile appYes
Account typesBronzeSilverGold
Customer supportAvailable 24×7
Deposit and withdrawal feesNA, 5% on VISA
Copy tradingYes
Commission on transactions Up to 5%

About Raceoption – What is behind the broker?

The online trading platform allows you to trade binary options and forex. It offers its services in not one country but across the globe. It lets the traders experience the best by giving them access to multiple markets and underlying assets. 

The intuitive online trading platform of Raceoption brings forth the optimal condition for trading. It is a perfect trading platform for beginners because of its user-friendly interface. 

Good to know!
Raceoption is a trading platform for all traders. Experienced or novice traders can enjoy trading with the maximum benefits on this platform. 

If trading is so easy on Raceoption, you must consider whether or begin your Raceoption journey. Well, you can join Raceoption after knowing about its regulation.

(Risk warning: your capital can be at risk)

Is RaceOption regulated?

Whether a broker is regulated or not is any trader’s foremost concern. If the binary broker is regulated, it gives the traders a sense of security. There are fewer instances of being cheated or duped by a broker if a regulatory body oversees them. 

If the broker scams or dupes any trader, it is liable to answer the regulatory body. The broker risks losing his license if he does not operate fairly. 

As we write, no regulatory body oversees the functioning of Raceoption. Thus, a trader might feel a little skeptical about trading with Raceoption.

Availability of RaceOption (countries)

Since Raceoption does have any regulatory body overseeing its functioning, it is not available in most countries. For instance, you will not be able to trade on Raceoption if you are a USA resident or Canadian.

(Risk warning: your capital can be at risk)

Trading conditions of Raceoption:

Once you have decided to trade with Raceoption, it is best to familiarize yourself with its trading conditions. Getting started with Raceoption will require you to sign up with the broker. 

Signing up with Raceoption

To begin trading, you can follow these steps on Raceoption:

  • Visit the Raceoption website or download the mobile application. 
  • The signup button will allow you to create your account if you are an experienced trader. If not, you can click on the ‘demo account’ option to learn to trade. 
  • Now, enter the details asked to join Raceoption. Usually, these details include your name, email address, identity proof, payment method verification, etc.
  • Once the information is complete and verified, you can begin trading on Raceoption. 

The signup process of Raceoption does not involve much hassle. A trader can get started on Raceoption within a few clicks on the mouse. Once done, you can access multiple markets to trade binary options and forex. 

(Risk warning: your capital can be at risk)

Funding your trading account

After successfully signing up on Raceoption, you can fund your account with the minimum deposit amount. There are multiple payment methods that Raceoption offers you. We shall through light on these payment methods once we talk about the Raceoption minimum deposit amount. 

Raceoption minimum deposit amount

Most brokers offer to join their online trading platform with a minimum deposit of less than $10. However, it is a privilege that Raceoption users do not receive. To initiate trading on Raceoption, you must fund your trading account for $250

Raceoption minimum deposit amount is $250.

$250 is the minimum amount you need to get started here. If you are using any other currency, you will have to deposit an amount equivalent to $250 in that currency. Thus, the minimum deposit amount is one of the unattractive features of Raceoption. 

Most traders despise trading with brokers with high minimum deposits. It is an inconvenience for the traders, especially the beginners. A high minimum deposit amount causes the traders to lock their money in their trading accounts. It can be frustrating when you are only learning how to trade. 

(Risk warning: your capital can be at risk)

Payment methods

You would need a payment method to fund your online trading account. Usually, most brokers offer different payment options to the traders. It brings ease of operation and trading online. 

Raceoption also offers several payment methods to traders. These mainly include:

  • Bank transfers
  • Cryptocurrency
  • Debit cards
  • Credit cards,
  • Electronic wallets
Good to know!
Raceoption allows users to use all the leading Cryptocurrencies to fund their accounts. These include Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. 

The multiple payment methods allow the users ease of funding their accounts. For instance, if you find that a particular trade can reap you profit but lack sufficient funds in your account, you would need to fund your Raceoption account.

 However, if your desired payment method does not work, you lose the chance to make money. Thus, you should always pick a broker that allows you to use multiple payment methods. 

Funding your Raceoption trading account involves the following steps:

  • Login to your Raceoption account with your login credentials. 
  • Choose your desired payment method to fund your Raceoption account. 
  • Select amongst the cryptocurrency, bank transfer, debit, and credit transfers to choose your preferred payment method. 
  • Enter the deposit amount to add to your Raceoption trading account and confirm the payment. 

Once your Raceoption account gets funded with money, you can place your binary options or forex trades. 

(Risk warning: your capital can be at risk)

Withdrawing your funds

While funding your Raceoption trading account is easy and instant, withdrawals take a little time. A Raceoption trader can withdraw the funds using the same payment methods available for funding. The withdrawal options include

  • Bank transfers
  • Cryptocurrency
  • Debit cards,
  • Credit cards.

Minimum withdrawal amount

The minimum withdrawal amount is also one of the important factors in picking a broker. For example, if a broker has a high minimum deposit amount, it will restrict you from withdrawing any funds that are lower than that amount. 

Suppose a broker has a minimum withdrawal amount of $100. If you have $20 in your trading account and wish to withdraw it, you will not be able to do so. 

Even if the broker allows you to do that, you might have to pay some fees or charges. Thus, the minimum withdrawal amount should be your priority concern while choosing to stick to a broker. 

Good to know!
At Raceoption, the minimum withdrawal amount is $50. It means if there is any amount less than $40 in your Raceoption trading account, you can’t withdraw it. 

(Risk warning: your capital can be at risk)

Funding and withdrawal duration

Funding and withdrawal duration vary on different trading platforms. 

Usually, when you fund your Raceoption trading account, it gets credited with funds instantly. It happens so that you don’t miss out on any critical or crucial trade. 

On the other hand, the Raceoption withdrawals through any medium take up to one hour for processing. 

Good to know!
The broker processes your withdrawals within one hour of receiving the request. However, the actual duration might vary according to your chosen payment method. For example, withdrawals made through bank transfers can take up to 3 days to credit into your account. 
On the other hand, cryptocurrency withdrawals are quick and instant. 

Now that you know what trading on Raceoption is like, let us talk about other features the platform offers.

Assets availability on Raceoption:

Offering only one or two underlying assets wouldn’t do justice to the traders. When traders have only a limited number of assets at their disposal, it hinders them from making money. Thus, selecting a broker that offers a wide range of assets to the traders is essential. As for Raceoption, you will find all leading:

  • Stocks
  • Cryptocurrency
  • Forex, and 
  • Commodities.

Thus, you can have your pick amongst these assets in the different underlying markets. 

While trading any asset on Raceoption, make sure to diversify your portfolio. 

Quick tip!
Pick different asset classes in different underlying markets to avoid the scope of any losses. It will help you manage your risk well and also diversify your investment. 

(Risk warning: your capital can be at risk)

Raceoption mobile application

The best broker will always allow the traders to trade using a mobile application. A trader cannot always keep his laptop or computer handy to trade online. Opening the web version of the trading platform can also seem like a hassle to the traders. 

Thus, a mobile application comes in handy in such situations. It allows the traders to trade on the go and at their convenience. 

Raceoption offers a user-friendly mobile application for both android and iOS users. 

To download the Raceoption mobile app:

  • Visit the Playstore or App Store to find Raceoption mobile application.
  • Choose to install this application on your android or iPhone device. 
  • The signup process is identical to the web-based version. You only need to enter your details as mentioned. Or, if you already have a Raceoption trading account, you can log in by entering your credentials.

Does Raceoption offer a bonus? 

Bonuses are an attractive feature of any online trading platform. As a trader, you would find it lucrative to sign up with a binary broker that offers you a high bonus. 

A bonus is something that adds to your trading account balance. You can use it to place your trades. However, a trader cannot withdraw the bonus as it is available for virtual use only. 

Fortunately, Raceoption does offer plenty of bonuses to the trader. If you are depositing money for the first time, you might get rewarded with a deposit bonus. Sometimes a trader could also get a bonus when he signs up with the platform. 

Good to know!
Raceoption also conducts several trading contests or tournaments. If you are experienced enough, you can participate in these tournaments and try your luck. These contests are another way for Raceoption to attract traders. 
By winning these contests, a trader can earn additional benefits and enjoy monetary benefits.

Additionally, there are two other kinds of bonuses that Raceoption offers. 

(Risk warning: your capital can be at risk)

Three risk-free transactions

If you are a novice trader, there is nothing more you could want than to place risk-free transactions. Raceoption offers you this privilege once you open your real trading account. The three risk-free transactions work in the following way:

  • On opening a real trading account, you can place three risk-free transactions through a trading account. 
  • If you do not profit from these transactions or make losses, Raceoption compensates you for these. 
  • The broker credits the amount of loss that you make to your bonus. 


These are other kinds of bonuses available on the online trading platform. Usually, the broker offers traders giveaways in the form of iPhones or Macbooks. It is for the traders who win the various trading contests organized from time to time on Raceoption. 

(Risk warning: your capital can be at risk)

Raceoption demo account

Starting an online trading platform without knowing what it will be like can be challenging in the long run. Thus, a trader should always test the trading platform’s features on a demo account. 

A demo account does not require a trader to deposit any real money. On the contrary, a trader can find virtual funds in his demo trading account that he can use to learn how to trade. Using a demo account for some time also lets the traders know the functioning of the online trading platform. 

Raceoption demo trading account has the following features:

  • Traders get virtual money credited into their trading accounts to learn to trade. 
  • It has all the features of a live trading account to allow you to learn how the broker operates.
  • Using the demo account is free for a certain point in time. 
  • All kinds of traders- whether experienced or novice, can use the demo trading account.  

Account types on Raceoption

Like every other online trading platform, Raceoption offers different account types to traders. A trader can pick an account type according to the level of his trading expertise. Usually, you will find three real account types on Raceoption. These include

  • Bronze
  • Silver 
  • Gold

Here is a brief overview of these Raceoption account types. 

(Risk warning: your capital can be at risk)

Bronze account

  • The bronze account is the account for beginners. 
  • The demo account is accessible for all bronze account holders.
  • Traders can access the video chat support any time of the day.
  • Copy trading feature is available on the bronze account.
  • Traders get a deposit bonus of up to 20% on funding their account for the first time. 
  • Investors can make withdrawals through this account within one hour. 

Silver account

  • Silver account holders get access to using the demo account. 
  • A trader with this account can also get assistance from customer support round-the-clock. 
  • Signing up for a silver account allows traders to unlock three risk-free transactions. 
  • Fund withdrawal is possible within an hour in the silver account. 
  • Traders also get a signing-up bonus of up to 50% on silver accounts. 

Gold account

  • A gold account is a top-tier account available for Raceoption traders. 
  • Owning this account will make you eligible to receive your withdrawals within an hour. 
  • Copy device is also available for the gold account holders.
  • A demo account and a master class are distinguishing features of this trading account. 
  • You can also choose three risk-free transactions when you trade through the gold account. 
  • Traders mostly opt for Raceoption gold accounts because it makes them eligible for a personal manager. The personal manager helps manage your trading account by giving you considerable advice. 
  • Besides, a trader unlocks a 100% deposit bonus with a gold account. Raceoption offers a bonus of 100% of the amount you deposit in your trading account. 

(Risk warning: your capital can be at risk)

Trading and educational material on Raceoption

Raceoption does provide its users with plenty of educational resources to help them learn the trading basics. 

  • You can find various recorded video lectures telling you some trading basics. 
  • Opting for a Gold or silver trading account might also allow the traders to get expert training. 

However, this availability of trading educational resources is scarce. These resources do not offer comprehensive guidance to the traders. Other online trading platforms host regular webinars and provide trading journals to the traders. However, this feature is lacking on Raceoption. 

Fees and commissions

As a trader, you wouldn’t want to share a huge part of your earnings with a broker. Thus, you wouldn’t want to trade with a broker who charges a high percentage of fees and commissions.

Many brokers exploit the traders by charging them fees when they fund their accounts or withdraw money. However, it is not the case with Raceoption. 

  • The deposits and withdrawals are free of any charge on Raceoption. 
  • However, you might have to pay 5% fees if you fund your account using your VISA card. 
  • There are no account maintenance fees at Raceoption.
  • The broker can charge you a commission of up to 5% of your transaction amount.

Thus, Raceoption does seem like a very viable online trading platform from the perspective of fees and commissions. 

(Risk warning: your capital can be at risk)

Customer support

An efficient broker will always ensure that his clients trade free of mind. It is crucial to be available 24×7 to address their queries to ensure this peace of mind. If you have trouble trading on Raceoption, you can always connect to Raceoption customer support. 

Copy trading feature of Raceoption

If you are a trader who does not wish to indulge in a trading process but still earn profits, you can use the copy trading feature of Raceoption. This feature allows you to copy the trades of successful and experienced traders.

  • A trader can choose to copy trades of the experienced traders by clicking on the ‘copy trade’ option.
  • You can select the trader whose trades you wish to copy. 
  • Raceoption allows you to repeat the trades of the trader without any challenge. 
  • Thus, you can make a profit without doing much. 
  • If you feel that you wish to copy trades of a different trader, you can do it by selecting the different trader. 

Advantages and disadvantages of trading with Raceoption

Like all brokers, Raceoption has various advantages and disadvantages in trading. Taking a look at these advantages and advantages will give you a better review of Raceoption. 

Advantages of trading with Raceoption

  • The broker lets you use the demo trading account to learn to trade. 
  • Raceoption provides multiple payment methods at your disposal to deposit funds to your Raceoption trading account. 
  • The minimum deposit amount is less compared to the market average.
  • Raceoption is an excellent way for traders to generate passive income.
  • You can find the global presence of the broker, except in some countries. 
  • Signing up for a Raceoption trading account does not require much of your time. 
  • If by any chance, you stop trading for a while, Raceoption does not charge you any account maintenance fee. 
  • Raceoption does not charge any deposit or withdrawal fees for a trader trading on the platform. The only withdrawal fees applicable are on VISA withdrawals.
  • It does not extend its services to traders residing in the USA. 
  • Not much documentation is involved in signing up for an online trading account. 

(Risk warning: your capital can be at risk)

Disadvantages of trading with Raceoption

The user experiences the following disadvantages while trading on Raceoption. 

  • The minimum deposit amount is very high considering the market average. 
  • There is no overseeing authority that regulates its functioning. 
  • It charges a transfer fee of 5% for withdrawing funds through VISA cards. 
  • There is not much evidence of it protecting the traders’ rights. 

Thus, these disadvantages of Raceoption can hinder any trader from trading on this platform. 

Summary of the Raceoption review:

Raceoption seems like a reliable online trading platform offering the best services to clients. It has plenty of positive features that can draw various traders towards itself. However, it also contains several negative traits and unattractive features for the trader. 

For instance, it does not operate under the watch of any regulatory body. Also, its minimum deposit amount is very high, thus making the traders second guess it’s working. 

You can try trading on the Raceoption demo trading account before you choose to move to a live trading account. Overall, it seems like a good online platform for both beginners and experienced traders.

(Risk warning: your capital can be at risk)

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