Overview of RACEOPTION
Raceoption is an unregulated trading platform based in the Marshall Islands, offering access to forex, cryptocurrencies, stocks, commodities, and indices. With a minimum deposit of $250, traders can utilize its proprietary platform or mobile app. The platform features three account types (Bronze, Silver, Gold), a demo account, and copy trading for educational purposes. Customer support is available via phone and live chat. While Raceoption accepts various payment methods including credit cards and cryptocurrencies.
Pros and Cons
Pros
- User-friendly platform: Raceoption offers a platform that is generally considered easy to navigate and use, even for beginners.
- Copy trading feature: This feature allows users to mimic the trades of experienced traders, reducing the learning curve for new investors.
- Variety of assets: The platform provides access to a diverse range of financial instruments, including forex, cryptocurrencies, stocks, commodities, and indices.
- Fast withdrawals: Users have reported relatively quick withdrawal processing times.
- Demo account available: A demo account allows traders to practice with virtual funds before risking real money.
Cons
- Unregulated: Raceoption operates without any recognized regulatory oversight, exposing traders to higher risks compared to regulated brokers. This includes potential issues with fraud, market manipulation, and difficulty recovering funds in case of disputes.
- Limited educational resources: While the copy trading feature is beneficial, Raceoption lack comprehensive educational materials for traders who prefer to learn and trade independently.
- No MetaTrader 4/5: The absence of these popular trading platforms limit the availability of advanced trading tools and indicators for some traders.
Regulatory Status
Raceoption operates without any recognized regulatory oversight. This means that the platform is not subject to the rules and protections afforded by financial regulatory bodies, leaving traders exposed to potential risks such as fraud, market manipulation, and loss of funds.
Market Instruments
Raceoption offers a trading platform that allows users to speculate on the price movements of various 100+financial instruments, including Forex pairs, cryptocurrencies, stocks, commodities, and indices. To manage their positions, traders can utilize features such as rollover, double up, and sell options, providing flexibility in their trading strategies.
Account Types
Raceoption offers three kinds of accounts：
Bronze Account
The Bronze account is Raceoption's entry-level option. It offers 24/7 live video chat support for customer assistance. Traders with this account can expect withdrawals processed within an hour. A 20% bonus is applied to the initial deposit. The Bronze account also includes a demo account for practice trading and access to the Copy Trading tool for following experienced traders.
Silver Account
The Silver account provides the same benefits as the Bronze account, but with enhanced features. In addition to the 24/7 live video chat support and one-hour withdrawals, Silver account holders receive a more substantial 50% bonus on their initial deposit. This account tier also grants access to a master class (web session) for educational purposes.
Gold Account
The Gold account is Raceoption's premium offering. Similar to the Bronze and Silver accounts, it includes 24/7 live video chat support, one-hour withdrawals, and a demo account. However, Gold account holders enjoy a generous 100% bonus on their deposit, access to the master class, and the opportunity to participate in three risk-free trades. A standout feature of this account type is the inclusion of a personal success manager for dedicated support and guidance.
How to Open an Account？
Here are the steps on how to open an account with Raceoption:
- Go to the Raceoption website and click on the “Open an account” button.
- The account registration form will pop up. Fill in your email address, password, name, surname, phone number, and currency account.
- You can also enter a promo code if you have one.
- Read and agree to the Terms and Risk statement.
- Click on the “Next” button.
Trading Platform
Raceoption offers a user-friendly trading platform accessible across devices. The platform allows traders to select from various assets, view real-time price charts, gauge market sentiment, and place trades with chosen expiry times and investment amounts. Users can opt to predict price increases or decreases.
Additionally, Raceoption provides a mobile app that mirrors the web platform's features, enabling on-the-go trading with live charts, trade execution, and access to trade history, all using the same login credentials as the web version.
Deposit & Withdrawal
Raceoption offers a variety of payment methods for both deposits and withdrawals, including credit/debit cards, Bitcoin, Ethereum, and other altcoins. Deposits and withdrawals are typically processed within an hour, although processing times are delayed during weekends and public holidays.
Raceoption does not charge any transfer fees, but third-party fees apply. Overall, Raceoption provides a convenient and efficient payment system with a focus on speed and security.
Customer Support
Raceoption provides customer support through multiple channels, including phone support with several international numbers (1-829-947-6393, +44-208-068-5335, 3-395-0396, 081-855-7055, +7-499-7033774) and live chat for immediate assistance.
Educational Resources
Raceoption offers a copy trading feature as a primary educational resource. This allows users to replicate the trades of successful traders without requiring prior trading experience. By selecting from a list of top-performing traders, users can automatically copy their trades and potentially profit from their success.
Conclusion
Raceoption offers a user-friendly platform with a variety of tradable assets and a copy trading feature, making it potentially appealing to novice traders. However, the lack of regulation poses significant risks to investors, including potential fraud and loss of funds. Additionally, limited educational resources and the absence of popular trading platforms like MetaTrader 4/5 might be drawbacks for more experienced traders.
FAQs
How do I open an account with Raceoption？
To create an account, visit the Raceoption website and complete the online registration form with your personal details.
Are there different account types available？
Yes, Raceoption offers multiple account tiers with varying features and benefits.
Does Raceoption provide a demo account？
Yes, Raceoption offers a demo account for practice trading.
What payment methods does Raceoption accept？
Raceoption supports various deposit and withdrawal methods, including credit/debit cards and cryptocurrencies.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
