Raceoption Review 2023: Key Features & Alternatives

Bizreport - Bailey Schramm
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Reviewed by Kristina Knight, Journalist , BA
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Raceoption
Editor Rating:
4.4
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About this rating

Our references are based on the analysis and synthesis philosophy, which are conducted by a team of experienced and well-qualified researchers.

  • Cost Value
  • Customer Service
  • Ease of Use
  • Included Features

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Raceoption is a brokerage that helps users trade Forex, stocks, indices, and binary options. It is suitable both for beginners and experienced traders.

Pros

  • 24/7 customer support
  • Available in a number of different languages
  • Accepts customers from around the globe

Cons

  • Not highly regulated
  • Not a lot of information available on them
  • Social trading platform
  • Brokerage for forex and other securities
  • Affiliate program through a referral link 
  • Bonuses and contests
  • Founded in 2017
  • Based in the Marshall Islands
Raceoption Review

RaceOption is an offshore broker for international clients to trade binary options and ForexCFD trading. They allow investors to make short-term or long-term investments with the features on the platform, which is a subsidiary of Race Projects, Ltd

While not a whole lot is known about RaceOption at this time, it is liked by customers around the world because of it being an offshore broker. They offer 24/7 support for customers in a number of languages, which is a good sign given their global customer base. 

They offer a number of ways for you to earn outside of your normal trading strategies, including through their trading contests and bonus program, and through their affiliate program. 

Raceoption Advantages

Let’s take a look at some of the top reasons why users find the trading experience on Tradeoption advantageous and better than other binary options brokers

Ways to Get Passive Income

Many traders like that trading binary options on RaceOption gives them a way to earn passive income. The binary options market can be difficult to master and comes with plenty of risks, though when done correctly, the RaceOption platform provides great trading tools 

Accepts International Clients

Another advantage of RaceOption being an offshore binary options broker is that it can accept clients from all around the world. Plus, their support is also available in many different languages, which is helpful for its global client base. 

Various Payment Methods

Not all of the other brokers accept multiple payment methods to fund accounts, but RaceOption does. This makes it more accessible for all clients, including a bank transfer, credit card, and more to get started trading on RaceOption. 

Raceoption Trading Platform Key Features

Here are some of the main features of this Forex and CFD trading platform. 

Great Trading Platform For Binary Options Trading

RaceOption is a place where you can trade binary options. It’s great for beginners and professional traders to have a trading account given the different account types available, and many successful traders have used RaceOption. 

Even still, the binary options trading process is never risk-free and often comes with high risk, so it’s still important to understand the risks before you start trading with this trading tool. 

Trading Accounts

There are three different trading accounts available on RaceOption that can fit your own needs as a trader, including Silver, Bronze, and Gold. 

Over 150 Assets

TradeOption users can buy and sell over 150 different types of assets on the platform, including Forex currency pairs, stocks, CFD trading, and more. 

Demo Account

RaceOption offers demo accounts to users to practice trading with virtual money before doing the real thing. Even an experienced trader can benefit from this feature if they’re trying out a new strategy. 

Mobile Trading

One great aspect of RaceOption is that you can use their trading tool from your phone with their mobile app. Binary traders know that timing is everything, which is why this feature is a great channel as opposed to just having a web platform. 

Types of Trading Account

Let’s take a look at some of the different aspects of the main trading accounts.

Raceoption Review
Account TypesBronze AccountSilver AccountGold Account
Guaranteed WithdrawalsWithin 1 hourWithin 1 hourWithin 1 hour
Welcome bonus+20%+50%+100%
Trading coursecheckiconcheckiconcheckicon
Demo Accountcheckiconcheckiconcheckicon
Trading ProtectionNot includedcheckiconcheckicon
Master ClassNot includedcheckiconcheckicon
First 3 Risk-free TradesNot includedcheckiconcheckicon
Swiss Prepaid CardNot includedNot includedcheckicon
Individual managerNot includedNot includedcheckicon

Promotions & Bonuses

One thing users like about RaceOption is that you can make additional earnings through the promotions and bonuses they offer on the platform. They have a number of ways to participate in a bonus program or trading contest, including the deposit bonus and other RaceOption bonuses. 

Bronze Account

The Bronze tier on RaceOption is a good service from the broker, which includes 24/7 live video chat support, you can withdraw funds in one hour, bonuses are available of +20%, includes a demo account and a copy trading tool. 

Silver Account

RaceOption also has a Silver tier, which also includes 24/7 live video chat support, a withdrawal method that takes only an hour, bonuses of up to +50%, a demo account, copy trading tool, the first 3 risk-free trades, and a web session MasterClass. 

Gold Account

With the Gold Account, you can get all the same features as the other two account types from RaceOption, including bonuses of up to +100%, and a personal success manager. 

Deposit & Withdrawal Fees

Withdrawing funds is easy from the platform and can only take 60 minutes to process the withdrawal request.

Raceoption Quick Overview

Raceoption

4.4 stars

Best Overall Value

  • Low minimum initial deposit ($10)
  • 24/7 customer support in multiple languages
  • Available to users around the globe

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Raceoption Customer Reviews

Let’s take a look at what some of the customers of RaceOption have to say about the platform. Be aware that there are a good amount of negative reviews on TrustPilot, which we will highlight here.

I requested a withdrawn over a month ago and have not received it. Their customer support assures me it will be delivered on a specific date and it never happens. Complete scam.

Brooklyn

This is a broker not worth recommending.. does not want to make withdrawals of money.. all the time he says that he is making some improvements.. tries to do everything not to withdraw money. you constantly have to urge them to give you your money… I do not recommend this broker!

Gregor

People do not be misled by fakes because RaceOption is not doing anything illegal, they always pay your profits. I know that you should trust any of the reviews – good or bad and try it yourself to be totally sure but I share here my experience which was 10/10 so it can helpful for you too. I was afraid to fall into a trap or something but I took a risk and now I am sharing this with you

Andrew

Their website is down. And changed their email address. This broker is a joke. Don’t bother or deal with them.. scammers… I did a withdrawal since 13th September and I’m still waiting.

Kay

Raceoption Service Review

Raceoption Review

Review of IQCent

Overall Pricing and Value
89%
89%
Cost Value
90%
90%
Customer Support
85%
85%
Ease of Use
90%
90%
Included Features
90%
90%

Let’s take a final look at whether RaceOption is a good fit for you if you want to trade binary options. 

Is Raceoption Right For You?

After reading through this RaceOption review, you can see what great features they have, and where some of the drawbacks are. While there aren’t many positive customer reviews, the website appears very professional, and like it has a number of features that many brokers also offer. 

Cost Value 

The accounts on RaceOption are very reasonably priced, so it’s not too difficult to get started even if you don’t have a massive budget available to devote to it. 

Customer Service

The company promotes 24/7 support for customers in multiple languages since they are a global platform. However, some of the negative customer reviews note that they aren’t that easy to get a hold of. So, this is something you should be aware of before you get started on the platform. 

Ease of Use

The platform is very to use and get started. They provide a good amount of resources to help even beginner traders get into the markets. If you want to trade forex, currency pairs, or other securities with ease, RaceOption is a good way to go. 

Included Features

There are many different features included on the RaceOption platform to help its users, including integrated technical analysis, a deposit bonus that RaceOption offers for new users, and masterclasses to help new users get familiarized with the markets.  

Overall

It’s important to know as a binary option trader that the trading conditions aren’t always normal and are never predictable. So, past success is no indication of future performance, so you can’t expect profit immediately by using any broker, including RaceOption. A good broker won’t promise you results, so be wary of any broker that makes large statements.

This is not unique to RaceOption, but is the nature of the industry in general. So if you have done a broker review of other platforms and feel comfortable with taking your chances on RaceOption, you should be good to go to make an account immediately and start trading. 

2 Top Raceoption Alternatives

Pocket OptionQuotexRaceoption
Minimum Funding$5$10$10
Demo Accountcheckiconcheckiconcheckicon
Rating4.84.74.5
DetailRead Review Read Review Read Review
Link

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Pocket Option

Pocket Option is another broker where you can trade binary options, and is a part of Gembell Limited Holding. The platform is mass-market requirements-based, so it has great services and account types in the OTC markets. Overall, Pocket Option tries to make trading easy, clear, and straightforward to provide a stable experience for users. 

Quotex

Quotex is an online broker that supports binary options trading for customers. It has been around since 2019, and allows customers to trade currency paries, metals, oil, cryptocurrencies, stock indices, and more. 

They have their own proprietary trading platform that can be customized by users with ease. The minimum deposit is just $10 to get started, which makes it accessible for many people. Plus, they have 24/7 support to help users, as well as two-factor authentication for added security for your financial assets. 

Conclusion

Through this RaceOption review, you can see that RaceOption offers many different perks for users, especially as a global platform for binary trading. The broker offers technical analysis and other tools they have to help traders get started are great, in addition to their low minimum deposit and different tiers for affordability.

Frequently Asked Questions (FAQs)

What is the minimum withdrawal on RaceOption?

Users must make a minimum $50 withdrawal.

What is the Finance Group Corp?

The Finance Group Corp is a UK-based platform that also offers Forex trading.

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ABOUT THE AUTHOR

Bizreport - Bailey Schramm
Bailey Schramm, BS
Finance Advisor
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Bailey Schramm is a writer based out of Jackson Hole, WY, primarily covering topics and trends in financial services, business, and the blockchain. With a background covering stock market developments for a major FinTech company, she now provides SEO and content strategy services to financial service companies and tech startups.

ABOUT THE REVIEWER

Kristina Knight-1
Kristina Knight, Journalist , BA
Content Writer & Editor
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Kristina Knight is a freelance writer with more than 15 years of experience writing on varied topics. Kristina’s focus for the past 10 years has been the small business, online marketing, and banking sectors, however, she keeps things interesting by writing about her experiences as an adoptive mom, parenting, and education issues. Kristina’s work has appeared with BizReport.com, NBC News, Soaps.com, DisasterNewsNetwork, and many more publications.

+ 4 sources

Bizreport Advisor adheres to strict editorial integrity standards avoids using tertiary references. We have strict sourcing guidelines and rely on peer-reviewed studies, academic research. To ensure the accuracy of articles in Bizreport, you can read more about the editorial process here.

  1. Raceoption. raceoption.io. Accessed December 18, 2022. https://raceoption.io/
  2. Raceoption is rated “Poor” with 1.9 / 5 on Trustpilot. Trustpilot. Accessed December 18, 2022. https://www.trustpilot.com/review/raceoption.com
  3. The Finance Group. www.financegroup.com. Accessed December 18, 2022. https://www.financegroup.com/
  4. Racecourse Projects |. Accessed December 18, 2022. https://raceprojects.com.au/