Race Option is a fast, efficient and reliable trading platform to both new and experienced traders. The broker basically offers two different trading platforms including web and mobile. While the web platform is highly advanced and easy to use.
Last Updated on May 17, 2022
What is RaceOption?
RaceOption is the brand name for Makerun Corp, a CFD/Binary options trading service provider offering financial products such as stocks, currencies (FX), cryptocurrencies, and commodities.
The company is registered in the Marshall Islands and was previously a member of the Financial Group Corp (FGC).
Race Option is a fast and efficient trading platform for both new and experienced traders. The broker basically offers two different trading platforms including web and mobile. While the web platform is highly advanced and easy to use.
They haven’t a Tier 1 regulation, however, RaceOption is considered one of the most reliable trading platforms among traders around the World due to safe trading, good payouts, and pretty quick withdrawals.
They offer as many as hundred and fifty assets for trading including cryptocurrencies, stocks, commodities, indices, and forex currencies. The broker offers attractive payouts and a wide range of funding as well as withdrawal options. Read on to find a comprehensive review of the broker.
Binary options trading methods and strategies have gained a great deal of popularity of late. Traders around the globe are investing in binary options to earn higher profits. As a result, an increasing number of binary options brokers are now offering a wide range of services and assets that enables traders to make money through binary options trading.
We have reviewed RaceOption which happens to be one of the premier binary options and FX & CFD brokerage companies now.
RaceOption Trading Platform
RaceOption broker offers both beginner and advanced CFD and Options traders one of the most user-friendly web-based trading platforms that’s easy to navigate and start trading your desired assets. The trading platform is web-based and available on desktops and responsive for mobile devices too.
The next section of the review will walk you through the Raceoptions trading platform. At first, the platform’s simplicity appeals to newbie traders, but you can also get all the technical bells and whistles if you’re a more advanced trader.
Let’s get to it.
CFD and Spot Forex
After signing up and launching the trading platform for the first time, the terminal is set to Options by default numbered (01) on the above screenshot.
By clicking either the CFD or Options button, you get to view the trading window to start trading binary options or CFDs.
Clicking on the CFD button, the chart orientation is switched to include both the ask and bid price on the main chart window shown below but still viewed in tick data mode.
If you’re like me and prefer to trade CFDs analyzing candlestick charts or a Heiken Ashi chart, you can change the main-chart mode from tick to candlestick view by clicking the button labeled tick, toggling from candlesticks to tick, and vice versa.
1. Market Order
By trading CFDs on its platform, you can place an instant market order type or a pending (IF) order type.
Let’s assume you want to buy an asset, say the EURUSD. Clicking on the buy button will give you your entered volume of the EURUSD at the instant ask price. The opposite applies to a short sell order, where you’re given the bid price.
2. Pending (IF)
To enter a pending/conditional (if) trade on the Race Option platform, you click on the place order toggle switch. By doing this, the order tab is switched to include the order type (buy/sell) and allows you to again select a pending (IF) conditional order by clicking the drop-down button beside the order type drop-down button shown above.
Once you have all the values set, you can move on to click the buy or sell button.
As we mentioned earlier, binary Options are the simplified view that is first displayed on the RaceOption trading platform.
The chart orientation on the Binary Options view differs from the CFDs window as it contains features for buying a call or selling a put Option of your desired asset class.
Option time offered on the RaceOption includes Turbo (30 seconds although it’s labeled 1minute), Intraday (1 hour, e.g., 15:00 to 16:00), and Long term(1 day, e.g., 15-12-2020 to 16-12-2020) arranged in ascending order.
For example, when you buy a call Option before the purchase deadline, your waiting time on the asset is more extended; however, that may align well with your trading style.
Your call option on the chosen asset class expires at the set expiration time.
The Binary Options trading terminal also offers percentage fluctuations of Call and Put Options, which you may want to include in your trading repertoire.
Also, you can view the status of your open and closed Option trades for post-trade analysis.
RaceOption app is available for iOS and Android, with the same features included in their trading platform. Moreover, their website is 100% responsive for mobile and tablets.
Assets and Markets to trade
Race Option offers an impressive range of assets to its traders. The broker offers more than 100 assets in different categories including commodities, indices, cryptocurrencies, forex, and stocks. As a result, investors can trade in different markets and earn handsome profits on a regular basis.
They offer clients assets in the following categories: currencies, commodities, cryptos, and stocks
- Currencies: traders can trade up to 26 currency pairs ( USD/SEK, USD/JPY, USD/RUB, USD/CHF, USD/CAD, USD/CNH, NZD/USD, GBP/CHF, GBP/CAD, GBP/AUD, GBP/JPY, GBP/USD , EUR/GBP, EUR/NZD, EUR/USD, EUR/AUD, EUR/JPY, EUR/CAD, EUR/CHF, CHF/JPY, CAD/CHF, AUD/USD, AUD/NZD, AUD/CHF, AUD/JPY, AUD/CAD).
- Commodities: There are just two available for trading on the Race Options platform when putting this article together, Gold and Silver.
- Cryptocurrencies: These include ZEC/USD, XRP/USD, MXR/USD, OMG/USD, LITECOIN, LTC/BTC, IOT/USD, ETHEREUM, ETC/USD, EOS/USD, DSH/USD, and BITCOIN.
- Stocks: Lufthansa, Deutsche, Daimler, BWA.DE
Crypto Currencies Assets: Trade Bitcoin
They offer the most popular cryptocurrencies to trade such as Bitcoin, Ethereum, and Litecoin.
Trading Bitcoin on Race Option is a breeze as it saves you the stress of storing private keys like in the early days of technology. You can trade Bitcoin as a CFD or as Binary Options before a fixed purchase price and be in the money at the expiration date.
Similarly, you could also trade Bitcoin BTC as a CFD using leverage. However, it is advised that you have a winning trading strategy and deploy sound money management techniques.
Raceoption offers attractive payouts to traders. Investors can expect as much as a 90% return through the broker.
At writing time, the company’s payout is as follows:
USD/SEK (60%), USD/RUB (63%), USD/JPY (60%), USD/RUB (63%), USD/CNH (63%), USD/CHF (60%), USD/CAD (75%), NZD/USD (60%), GBP/USD (78%), GBP/JPY (85%), GBP/CHF (75%), GBP/CAD (85%), GBP/AUD (64%), EUR/USD (77%), EUR/NZD (68%), EUR/JPY (60%), EUR/GBP (60%), EUR/CHF (70%), EUR/CAD (80%), EUR/AUD (80%), CHF/JPY (75%), CAD/CHF (60%), AUD/USD (60%), AUD/NZD (60%), AUD/CHF (60%), AUD/JPY (67%), AUD/CAD (60%)
Gold (75%) and Silver (60%)
ZEC/USD (60%), XRP/USD (70%), XMR/USD (70%), OMG/USD (60%), LITECOIN (60%), LTC/BTC (60%), IOT/USD (70%), ETHEREUM (70%), ETC/USD (60%), EOS/USD (70%), DSH/USD (70%), and BITCOIN (70%)
LUFTHANSA (70%), DEUTSCHE (70%), DAIMLER (70%), BMW.DE (70%)
Note that GBPJPY and GBPCAD at 85% are the highest payout percentages on Racing Options, followed by EURCAD and EURAUD at 80%.
The minimum payout on the platform is 60% on a few currency pairs and cryptocurrencies.
RaceOption Bonuses & Promotions
Race Option offers optional bonuses of up to 100% or a free $250 Bonus to their traders. As a result, traders can expect a maximum bonus of €/$ 100000. The broker also offers additional bonuses to their clients. However, bonuses at RaceOption are essentially optional. In fact, they’re granted after a client has given his/her confirmation. Clients who accept bonuses erroneously must notify the broker within three working days and the broker shall remove the bonus from the trader’s account.
They are currently running the following promotion. A couple of giveaways of Apple products, which is subject to a draw.
- Series 6 Apple: a deposit of $500 -$999 is required.
- iPhone 12 Pro 256 GB: a deposit of $1000 -$2499 is required.
- iPad Pro: a deposit of $2500 -$4999 is required.
- iMac 27″: a deposit amount of $5000+ is required.
To take advantage of the Giveaway, you must first fund your account and go on to activate a Giveaway promo under the section, My-promotions. Ensure your deposit is resolved from 1.12.2020 at 00:00 GMT to 31.12.2020 at 23:59 GMT.
Finally, you wait for the prize draw 05.01.2021 10:00 GMT, and it’s that simple.
Type of Accounts & Minimum deposit
Account types of RaceOption are of three categories. These are the Bronze, Silver, and Gold account types.
You get a Bronze account when you deposit $250 to $990, and you get a deposit bonus of 20%.
So, a $300 deposit would sum up to $360 in your account.
Your bronze account deposit unlocks other exciting features such as 24/7 video chat support, a maximum of 1 hour withdrawal time frame, a copy trading tool, and a demo account.
You can unlock more opportunities by scaling up your account to a Silver account when you deposit $1000 to $2990.
On a silver account, you have got 24/7 live video support, maximum of 1hour withdrawal time, a bonus of up to 50%, a copy trading tool, a master class (web session), and the first three risk-free trades.
The Gold account is the ultimate account with a lot of attractive features. They offer you up to a 100% deposit bonus when you deposit from $3000 to $100000 account. On top of that, you get a personal success manager plus other benefits of a Silver account.
Demo accounts are only available when you deposit to your Race Options trading account.
We’ll suggest you make the minimum deposit of $250 first to unlock this feature, which shows your commitment to trade, and you can test your trading ideas on the demo account before going live.
Deposit & Withdrawal
At the time of writing, RaceOption allows users to make deposits and withdrawals via five different methods, which include: Visa or MasterCard, Bitcoin, Ethereum, Altcoins (Zcash, Bitcoin Cash), and Perfect Money.
Deposits using Visa or Mastercard attract a transfer fee of 5%, and the funding is instant. In contrast, withdrawal takes up to 1hour for your funds to get credited into your account.
Deposits and withdrawals using cryptocurrencies cover all regions with zero transfer fees and instant funding time. You may have to wait up to 1-hour to get your withdrawals, though.
When you use Perfect Money, funding and withdrawal time takes up to 1-hour too, with zero transfer fees.
As far as withdrawals are concerned, Race Option offers a quick, easy, and hassle-free withdrawal process. In fact, withdrawals from all types of accounts do not exceed more than one hour. In order to withdraw money from their accounts, a trader must first place a request or give his/her confirmation.
Race Option is renowned for providing impeccable customer support services to its clients in all parts of the globe. They offer 24×7 customer support services in different countries including the USA, Germany, Canada, United Kingdom, Macao, France, Spain, Hong Kong, Israel, Singapore, Belgium, Turkey, United Arab Emirates, Japan and China.
Traders can either connect with the broker through phone or send them an email query. Apart from this, RaceOption also provides a live chat option to its clients. In fact, the live chat is the broker’s highly responsive and efficient feature. Traders can use the feature to not only connect with race option’s customer support representatives but also see them in real-time.
Do you want to inquire? Well, you can reach them on any of the following phone numbers:
+18299476393, +442080685335, 3-395-0396, 081-855-7055, +7-499-7033774.
You can also reach out by following Race Option on Instagram (@raceoption_com) and Twitter (@raceoptioncom)
Regulation in the United States
RaceOption is an offshore broker not regulated within the United States with CFTC *
Other than lack of clarity with regulations, Race Option is one of the finest binary options brokers operating in the market today. The brokerage, which came into existence in 2017, has done well to offer exciting trading options to traders from all walks of life. The broker offers a wide range of withdrawal and funding methods as well as secure and safe trading. Race Option is undoubtedly the best option for traders who seek quick withdrawals, good payouts, hassle-free and efficient trading options and features as well as a wide variety of assets for trading.
User Ratings on RaceOption
Submit your review
Hi James, May I deposit Bitcoin into RaceOption?
Hi Andrew.Yes, sure. Bitcoin should be available on Raceoption as a deposit method.
Great platform with low fees.
They are responsive with no issues so far. Their platform is pretty good.
Fantastic broker with wonderful customer service ( video chat ).
Good trades everyone!
I'm very happy with these guys. I do bitcoin trading with them.
Had no problems with withdrawals.