RaceOption Review

With its several account types, RaceOption offers a variety of excellent promotional offers to attract new traders to its services. It also offers a high quality user interface with cutting edge software and their customer support is second to none. They also offer a great range of over 150 different assets which is plenty of variety for even the most hard to please investor.

Intro

Although RaceOption is a relatively recent entrant into the marketplace for binary options, it has a lot to offer with a user-friendly platform and plenty of asset choice to select from. With a strong customer service team and plenty of impressive technological features, including the ability to use a wide range of payment methods, it is easy to see why this is looking set to be a popular binary options broker.

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Company Information

Launched relatively recently in 2014, RaceOption is owned by a London based company and is licensed and regulated for their customers’ peace of mind. Their site is also very secure with strong SSL encryption software throughout to protect their clients’ personal and financial information, and all of their payment methods are also extremely secure.

Assets Available

RaceOption offers around 150 assets to trade from.

Their list of assets includes:

Stocks: 80

Currencies: 35

Commodities: 9

Indices: 37

Bonuses & VIP Programs

RaceOption offers a number of excellent bonuses which vary depending on the level of account which each individual trader opens. For example, bronze account holders who register can receive a 20% deposit match bonus on registering, while anyone who registers to open a Gold level account can receive a deposit match bonus of 100%. Not only are there welcome bonuses on offer, RaceOption also offers several other promotional deals like free gifts to newly registered customers and a weekly contest which is free to enter and which offers a prize fund of $20,000.

Mobile

As expected from most of today’s binary options brokers, RaceOption has recognised the need for clients to check their assets and to carry out their trades while they are on the go. They are aware that traders do not want to be tied to their laptop or PC and, with the knowledge that downloading and installing memory intensive software slows down transactions by causing problems with computer memory, RaceOption have therefore developed a web trading interface which is entirely internet based. This enables trade executions to be carried out more swiftly from anywhere worldwide and at any hour of the night or day using a tablet, iPad or Android smartphone as long as it has a functional internet connection. As well as having a mobile-optimised website, RaceOption also has a free mobile application which makes it even easier to trade from a mobile device. It is easy to download this mobile app from the Google Play Store, Apple Store or even from the broker’s website.

Deposits and Withdrawals

RaceOption offers an excellent selection of payment options, although the range on offer will vary depending on which country individual traders come from. The options include:

• Credit Card and Debit cards – Visa, MasterCard, Visa Debit
• Bitcoin
• Altcoins
• Ethereum
• Neteller
• Skrill
• Perfect Money

RaceOption is leading the way with its expedited withdrawals which are processed within an hour. This is regardless of which account type traders have, which is excellent, since many of this broker’s rivals only offer this type of service to higher level traders. The minimum deposit amount is $250 and while this broker does not charge for transfers, some third party providers may.

Customer Support

There are several methods through which clients can contact the RaceOption customer support centre. These include:

• Email via the webform
• Telephone helpline – there are 5 numbers for clients in different locations
• Live Chat
• FAQs page for fast responses to the most common questions

The customer support team are available 7 days per week, 24 hours a day for the clients’ benefit and their website is available in four languages: English, Russian, Spanish and French to accommodate the needs of worldwide clients.

Extra Features and Resources

Unfortunately, the extra features department is where RaceOption really does fall down. Although their site promises educational resources, in fact the only thing you’ll find here is the FAQs page. There are also no additional facilities such as up to date trading news or market information.

Verdict

Overall, RaceOption has quite a lot to offer its potential clients, however it is also important to bear in mind that there are several negative points too.

Pros

• Cutting edge trading software that is very user friendly and is suitable for use by both experienced and novice traders
• 100% online web trading interface requiring no installations or downloads
• Mobile trading apps for iPhone and Android
• Choice of customer service contact methods including instant live chat
• 24/7 customer service access
• Licensed, authorised and regulated broker
• Strong SSL encryption site wide
• Choice of base account currencies
• Good choice of payment and withdrawal methods
• Very fast 1 hour withdrawals system
• Multilingual support
• Multilingual website
• Free demo accounts
• Good choice of over 150 assets
• A choice of account types
• Some excellent bonuses and promotional offers to new and existing clients

Cons

• There are no educational resources for new traders
• There are no additional resources such as market news or advanced features

FAQ

Which languages are supported by RaceOption?

RaceOption’s multilingual website is available in :

• English
• Russian
• Spanish
• French

They also offer multilingual support for clients around the world.

Is there a registration fee payable to RaceOption?

Clients do not need to pay any registration fee when they open a live trading account with this broker.

What Types Of Accounts Are There?

There are three types of accounts available from this broker to suit the needs of clients at all levels of experience.

Bronze – The bronze level account offers the following benefits: 24/7 video chat, 1 hour withdrawals, free demo accounts, copy trading tool. The minimum deposit amount to open this type of account is $250 and you can receive a bonus of 20% deposit match bonus on opening the account.

Silver – the silver level account offers all the benefits of the bronze account together with an online masterclass and the services of an individual account manager. The minimum deposit amount to open this type of account is $1000.

Gold – the gold level account offers all of the benefits of the silver account together with the use of integrated technical analysis. The minimum deposit amount to open this type of account is $50,000 and you can receive a bonus of 100% deposit match bonus on opening the account.

Will I need to install any software to my computer?

RaceOption offers a fast web based platform which is very user friendly and well designed with an easy to use layout. It can be used at any time and in any place from any kind of internet enabled device as long as it has an active broadband or mobile internet connection.

Does RaceOption offer a demo account?

RaceOption gives its potential clients the option to open a free of charge demonstration account which is ideal for both brand new traders and those who are more experienced but who are looking for a no risks trading experience to practice and hone their skills in the financial market. New traders can learn the basics of trading in a risk free environment whilst more experienced traders are able to try out new techniques and strategies without risking their own money. A demo account also enables potential traders to try out the features of the site and to see how much they like the trading interface before opening a live account and making a financial commitment.

What Kind Of Options Are Available From This Broker?

RaceOption’s maximum payout rate for trades is 90% and this broker offers the following trading options across all of its asset classes:

• High/Low options
• 60 second options
• Ladder/Pair options
• One touch options
• Long term options

This ensures plenty of options variety for people who prefer to either go for the leisurely pace of long term trading or who prefer the excitement of 60 second trades.

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