Few words about RaceOption
Welcome to the thrilling world of binary options trading! If you’re an avid trader or a curious beginner looking for a reliable platform, RaceOption might have caught your attention. This all-in-one trading hub has been making waves in the industry, but is it worth your time and investment? In this comprehensive review, we dive deep into the features of RaceOption to uncover what sets them apart from their competitors. From their innovative copy trading feature to their exciting contests and bonuses, read on as we dissect every aspect of this intriguing platform so that you can make an informed decision. So buckle up and let’s get started with our journey through the ins and outs of RaceOption!
RaceOption
What is RaceOption?
RaceOption is a dynamic online trading platform that caters to traders interested in binary options, forex, and CFDs. Established in 2017, the platform has quickly garnered attention for its user-friendly interface and range of features designed to enhance the trading experience.
The company behind RaceOption is Race Projects Ltd., based in Seychelles. While their primary focus lies on binary options trading, they also offer an extensive list of assets across various markets such as stocks, commodities, indices, and cryptocurrencies.
One standout aspect of RaceOption is its commitment to fostering social interaction among traders. They encourage users to share strategies, follow top performers through copy trading features and even participate in contests with lucrative prizes.
In addition to offering competitive payouts reaching up to 90%, they provide a comprehensive educational center equipped with video tutorials and articles aimed at helping both novice and experienced traders sharpen their skills. With these resources at hand coupled with responsive customer support services available 24/7 via live chat or email assistance; it’s no surprise that RaceOption continues growing rapidly within the industry.
RaceOption’s Trading Platform
RaceOption’s trading platform is designed to be user-friendly and accessible for traders of all levels. The platform offers a range of features, including multiple chart types, technical analysis tools, and customizable indicators. The interface is intuitive and easy to navigate, making it simple for beginners to get started.
One unique feature of RaceOption’s trading platform is the Copy Trading feature. This allows traders to copy the trades of successful traders on the platform automatically. This can be a useful tool for those who are new to trading or who want to learn from experienced traders.
The platform also includes a variety of order types, including limit orders and stop-loss orders. These can help traders manage risk and optimize their trades.
RaceOption’s trading platform is well-designed and offers many useful features that make it a good choice for both novice and experienced traders alike. However, as with any trading platform or broker, it’s important to do your research before investing your money.
Mobile Apps
Unfortunately, RaceOption has not yet developed a mobile app for its trading platform. While some traders may find this disappointing, it’s important to note that the desktop version of their platform is still very user-friendly and easy to navigate.
That being said, having a mobile app can be incredibly convenient for those who want to trade on-the-go. It allows you to place trades and monitor your positions from anywhere at any time.
Many brokers have recognized the importance of offering mobile apps and have made them available for their clients. However, it’s possible that RaceOption will develop one in the future as more traders demand this feature.
In the meantime, if you’re someone who values being able to trade from your phone or tablet, there are other brokers out there that offer mobile apps. It’s always a good idea to explore all of your options before settling on one particular broker.
Copy Trading
RaceOption offers a unique feature called “Copy Trading” which allows traders to automatically copy the trades of other successful traders. This can be an effective strategy for those who are new to trading or lack experience in making profitable trades.
By copying the trades of experienced and successful traders, beginners can learn from their strategies and techniques while still being able to make profits. The system will automatically execute the same trade as the trader you are copying, so all you have to do is sit back and watch your account grow.
The Copy Trading feature also allows users to select multiple traders at once, creating a diversified portfolio that can potentially reduce risk while increasing profits. It’s important to note that even though this feature makes it easier for beginners to start trading, there are always risks involved with any form of investment.
RaceOption’s Copy Trading feature is an innovative way for novice traders to get started in binary options trading without having extensive knowledge or experience in financial markets.
Contests
RaceOption’s contest is one of the platform’s most exciting features. This feature allows traders to compete against each other for cash prizes in real-time trading contests. These competitions have different lengths and are available to all account types, giving both novice and expert traders an equal opportunity to win.
The contests offer a lot of benefits beyond just the chance to win money. They provide a great way for traders to sharpen their skills while competing against others. Contests also help traders gain confidence as they trade with larger accounts than they may be used to.
One unique aspect of RaceOption’s contests is that they allow participants from all over the world, making them truly global events. And even if you don’t end up winning, you can still learn valuable lessons by observing how other competitors approach trades.
RaceOption’s contest feature adds a layer of excitement and competition that makes trading on this platform more engaging and enjoyable.
Free Demo
RaceOption offers a free demo account for traders who want to test the platform and their trading strategies without risking real money. This is an excellent feature for beginners who are new to binary options trading as it allows them to get familiarized with the platform’s functionalities.
To access RaceOption’s free demo, all you need to do is sign up and select the “Demo Account” option in your dashboard. The demo account comes pre-loaded with virtual funds that you can use to trade on the platform without any restrictions.
The best part about RaceOption’s free demo is that it simulates real market conditions, which means you can experience how it feels like to trade binary options in a risk-free environment. You can experiment with different assets, try out various trading strategies, and learn from your mistakes without worrying about losing real money.
However, keep in mind that since this is a simulated environment, there may be differences between actual market conditions and what you experience on the demo account. Therefore, while using the free demo account, make sure not to get too carried away or overconfident when making trades.
If you’re new to binary options trading or just want some practice before investing real money into your trades, then RaceOption’s free demo account is definitely worth trying out!
How is RaceOption regulated?
RaceOption is a binary options trading platform that operates under the company Race Projects Ltd. The company is registered in Seychelles and regulated by the Seychelles Financial Services Authority (FSA).
The FSA is responsible for ensuring that all financial services providers in Seychelles comply with international standards and regulations. This means that RaceOption must adhere to strict rules on capital adequacy, risk management, client fund segregation, and conduct of business.
RaceOption also operates under European Union law through its Cyprus-based payment processor Suomen Kerran LP. As such, it adheres to the EU’s stringent regulatory framework including MiFID II which ensures investor protection.
While some traders may prefer platforms regulated by more established bodies like CySEC or ASIC, RaceOption’s regulation by the FSA provides an added layer of security as well as access to a wider range of assets across global markets.
Account Types
RaceOption offers different account types to cater to the needs of various traders. The available account types are Bronze, Silver, and Gold.
The Bronze account requires a minimum deposit of $250 and comes with basic features such as access to the trading platform, a demo account, and customer support.
Meanwhile, the Silver account starts at $1000 and includes additional perks such as daily market reviews, a personal success manager, and an introductory video course on binary options.
For more experienced traders who want more advanced tools for trading binary options , there is also the Gold Account which starts at $3000. This type of account provides traders with all of RaceOption’s standard services but with premium features like priority withdrawal processing.
Each type of Account offered by RaceOption is tailored to meet individual trader’s requirements while still offering competitive pricing that makes it accessible for anyone looking for an online brokerage service for their binary options trading activities.
Deposit & Withdrawal methods
RaceOption offers a variety of convenient and secure deposit and withdrawal methods for its clients. You can fund your account with major credit/debit cards or Bitcoin & Litecoin.
Credit/debit card deposits are processed instantly while withdrawals may take up to 3-5 business days to reflect in your account. E-wallets offer instant processing times for both deposits and withdrawals.
Bank wire transfers may take up to 7-10 business days to be credited into your trading account while cryptocurrency deposits process within minutes. RaceOption does not charge any fees on deposits but there might be some fee charged by the payment processor.
In order to withdraw funds, you must first submit a request through your client portal. The minimum withdrawal amount is $50 while the maximum withdrawal limit depends on the type of account you hold.
RaceOption provides quick and hassle-free deposit/withdrawal options that cater for traders from different parts of the world.
Bonuses
One of the most enticing features that RaceOption offers is their generous bonus system. This can be a great way for traders to boost their profits and maximize their trading potential.
To start things off, new users will receive a welcome bonus on their first deposit depending on the amount they fund into their account. The higher the deposit, the larger the bonus percentage – which can range from 20% up to 100%.
There are also additional bonuses available for existing users such as reload bonuses or cashback offers. These promotions vary in terms of availability and size, so it’s always best to keep an eye out for any updates via email or on RaceOption’s website.
It’s important to note that while these bonuses may seem appealing at first glance, they do come with some restrictions and requirements. For example, there are typically minimum trading volumes required before you can withdraw any bonus funds or profits made with them.
RaceOption’s bonus system presents a great opportunity for traders who want to maximize their returns but it’s essential to carefully read all terms and conditions attached before accepting any offer.
Account Verification
Account verification is a necessary step for traders who want to use RaceOption’s features. In order to ensure the security of their platform, RaceOption requires all users to verify their account information.
The verification process involves providing personal identification documents such as passport or national ID card and proof of address such as a utility bill or bank statement. These documents are then reviewed by the RaceOption team in order to confirm that the user’s identity matches their provided information.
Once verified, users can enjoy uninterrupted access to all of RaceOption’s trading features without any restrictions. It is important that new traders complete this process promptly so they can begin trading as soon as possible.
Account verification also helps prevent fraudulent activity on the platform and protects both traders and RaceOption from potential scams or money laundering schemes. It’s an essential step towards creating a safer and more secure online trading environment for everyone involved.
Where is RaceOption available?
RaceOption is an online trading platform that offers various financial instruments to trade, including binary options. However, its availability may not be the same in all regions of the world.
Currently, RaceOption is available for traders worldwide except for a few countries where it’s prohibited due to regulatory restrictions or other reasons. Some of these countries include Australia, Canada, USA, Japan and some European nations such as Belgium and France.
If you reside in any of these locations or a country with similar restrictions on binary options trading platforms like RaceOption then unfortunately you won’t be able to access their services. In this case, you can look at other alternatives that are regulated and offer similar features as RaceOption.
On the flip side if you live in one of the supported areas then you can easily sign up with them and start trading right away. It’s always advisable though to go through their terms & conditions before signing up so that there isn’t any confusion later on regarding your eligibility or account limitations based on your location.
Knowing where RaceOption is available helps potential traders determine whether they can use this platform or need to find alternative solutions elsewhere.
Forbidden countries: USA, Canada, Japan, Syria, Sudan, Iran, Israel, Australia and the European Union.
Conclusion
After reviewing RaceOption, it is clear that this platform has some useful features for binary options trading. However, there are also some significant drawbacks that cannot be ignored.
The lack of regulation and mobile apps, as well as the limited account types and deposit/withdrawal methods make RaceOption less competitive than other alternatives in the market. Additionally, the bonuses offered by RaceOption may come with strict terms and conditions.
Therefore, we do not recommend using RaceOption for your binary options trading needs. Instead, we suggest considering other options such as Pocket Option or Quotex which offer more competitive features and benefits to their users.
