Score
Race Option
United States|5-10 years| https://www.raceoption.com/
Website
Rating Index
Influence
Influence
B
Influence index NO.1
Nicaragua 4.05Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
United States
5-10 years Suspicious Regulatory License High potential riskUsers who viewed Race Option also viewed..
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Sources
Language
Mkt. Analysis
Creatives
WikiResearchWebsite
Most visited countries/areas
Colombia
Mexico
Venezuela
raceoption.com
Server Location
United States
Most visited countries/areas
United States
Website Domain Name
raceoption.com
Website
WHOIS.GODADDY.COM
Company
GODADDY.COM, LLC
Domain Effective Date
2017-09-26
Server IP
104.24.111.200
Company Summary
| Aspect | Information |
| Company Name | Race Option |
| Registered Country/Area | United States |
| Years | 5-10 years |
| Regulation | Unregulated |
| Market Instruments | Regular options and CFD trading |
| Trading Platforms | Race Option official platform |
| Demo Account | Yes |
| Customer Support | Ticket and Phone: +18299476393, +442080685335, 3-395-0396, 081-855-7055, and +7-499-7033774 |
| Deposit & Withdrawal | Credit cards (VISA/MasterCard), Bank wire transfer, Bitcoin, Ethereum, Litecoin, Altcoins, Neteller, Skrill, and Perfect Money |
Overview of Race Option
Race Option is a trading company based in the United States, operating for approximately 5-10 years. As an unregulated entity, it offers regular options and CFD trading across various market instruments.
Traders can access the Race Option official platform, which provides a user-friendly interface for executing trades. Additionally, the company offers a demo account for traders to practice and refine their strategies risk-free.
Customer support is available through ticket submissions and phone assistance, with multiple contact numbers provided for convenience. Race Option supports a wide range of deposit and withdrawal methods, including credit cards (VISA/MasterCard), bank wire transfers, cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Altcoins, as well as e-wallet services like Neteller, Skrill, and Perfect Money.
Regulatory Status
Race Option operates as an unregulated trading platform. One drawback of using a financial broker is the potential for conflicts of interest. Brokers may receive commissions or incentives for promoting certain financial products or services, which could lead to biased recommendations that may not necessarily be in the client's best interest.
Pros and Cons
| Pros | Cons |
| Fast Withdrawals | Unregulated Status |
| Various Deposit and Withdrawal Options | Limited Market Instruments |
| Continuous Trading | Risk of Conflict of Interest |
| 24/7 Multilingual Customer Support | Lack of Transparency |
| High Transaction Capacity | Lack of investor protection measures |
Pros:
Fast Withdrawals: Withdrawal requests are processed within just 1 hour, ensuring quick access to funds.
Various Deposit and Withdrawal Options: Traders can choose from a wide range of deposit and withdrawal methods, making transactions convenient and flexible.
Continuous Trading: Trading is available 24/7, even on weekends, allowing traders to capitalize on market opportunities at any time.
24/7 Multilingual Customer Support: Customer support is available round-the-clock in multiple languages, ensuring assistance is always accessible.
High Transaction Capacity: With over 10,000 transactions processed daily, Race Option demonstrates reliability and efficiency in handling trades.
Cons:
Unregulated Status: Race Option operates as an unregulated trading platform, which means it may lack oversight from financial regulatory authorities.
Limited Market Instruments: While Race Option provides regular options and CFD trading, its range of market instruments may be limited compared to other platforms. Traders seeking access to a broader range of financial products may find Race Option's offerings insufficient for their needs.
Risk of Conflict of Interest: As an unregulated broker, Race Option may face conflicts of interest, particularly if it earns commissions or incentives from certain trades or activities. This could potentially lead to biased recommendations or actions that prioritize the broker's interests over those of the client.
Lack of Transparency: Due to its unregulated status, Race Option may not be as transparent as regulated brokers in terms of fee structures, terms and conditions, or dispute resolution processes. Traders may encounter difficulties in obtaining clear and comprehensive information about the platform's operations and policies.
Lack of investor protection measures: Traders may not benefit from safeguards such as insurance on client funds or participation in compensation schemes designed to reimburse clients in case of broker insolvency.
Market Instruments
Race Option offers two main market instruments for trading: Regular options and CFDs (Contract for Difference). Here's an introduction to these features:
Regular Options: Regular options, also known as vanilla options, are financial contracts that give traders the right, but not the obligation, to buy or sell an underlying asset at a predetermined price (strike price) within a specified time frame (expiration date). Traders can choose between “call” options, which allow them to buy the underlying asset at the strike price, or “put” options, which allow them to sell the underlying asset at the strike price. Regular options provide traders with the opportunity to profit from price movements in various financial markets, including stocks, commodities, currencies, and indices, without needing to own the underlying asset.
CFD Trading: CFDs, or Contracts for Difference, are derivative products that enable traders to speculate on the price movements of underlying assets without owning the assets themselves. When trading CFDs, traders enter into a contract with a broker to exchange the difference in the price of the underlying asset between the opening and closing of the trade. CFDs allow traders to profit from both rising and falling markets, as they can take long (buy) or short (sell) positions based on their market outlook. CFD trading offers several advantages, including leverage, which allows traders to amplify their trading positions with a smaller initial investment, as well as the ability to trade a wide range of assets, including stocks, indices, commodities, currencies, and cryptocurrencies.
How to Open an Account？
Opening an account with Race Option is a straightforward process that can be completed online in a matter of minutes. Here's a breakdown of the steps involved:
Visit the Race Option website and click “Register.”
Fill out the online application form: The form will request your personal information Be sure to have your identification documents (passport or ID card) and proof of address handy for uploading.
Fund your account: Race Option offers various deposit methods, including bank transfers, credit/debit cards, and e-wallets. Choose your preferred method and follow the instructions to complete the deposit.
Verify your account: Once your account is funded, you'll need to verify your identity and address. This typically involves submitting scanned copies of your ID documents and proof of address.
Start trading: Once your account is verified, you're ready to explore the Race Option trading platform and start making trades.
Trading Platform
The trading platform offered by Race Option boasts several compelling benefits for traders.
Firstly, it facilitates the instant execution of trades, ensuring timely actions in response to market fluctuations.
Additionally, the platform provides live charts for every available CFD, offering traders real-time insights into asset performance and market trends.
Furthermore, traders can conveniently access their complete trade history, empowering them with valuable data for analysis and strategy refinement.
Notably, the platform offers smooth integration with the web-based version, allowing users to access their accounts with the same login credentials across multiple devices for added convenience and flexibility.
To trade on the trading platform of Race Option, follow these steps:
Assets: Begin by selecting the asset you wish to trade from the dropdown menu provided.
Chart: Review the asset's chart price, which displays its real-time performance over your selected time period.
Trader's Choice: Take note of the current percentage of “bulls” (buyers) and “bears” (sellers) for the chosen asset, providing insight into market sentiment.
Time and Amount: Choose your preferred expiry time for the trade and enter the amount you wish to invest.
Choose Direction: Decide on your trading direction. Click “BUY” if you anticipate the asset's price will rise, or “SELL” if you predict it will fall by the CFD expiration time.
Payout: Upon completion of the trade, view your profit percentage relative to the amount invested.
Deposit & Withdrawal
Race Option offers a range of deposit and withdrawal methods to accommodate varying preferences and needs.
Credit Cards (VISA/MasterCard): A convenient and widely used method allowing instant deposits with a transfer fee of 5%. Withdrawals typically take up to 1 hour while deposits are instant. It's listed as the standard method for transactions.
Bank Wire Transfer: A traditional method for transferring funds directly from a bank account. While the funding time may vary depending on the bank, withdrawals usually take up to 1 hour.
Bitcoin: A popular cryptocurrency known for its decentralized nature and fast transactions. Deposits are instant, with no transfer fees, and withdrawals are also typically processed within 1 hour.
Ethereum: Another widely used cryptocurrency, offering instant deposits and withdrawals with no fees, making it a preferred method for many traders.
Litecoin: Similar to Bitcoin and Ethereum, Litecoin offers fast and low-cost transactions, making it a viable option for both deposits and withdrawals.
Altcoins: Race Option supports various alternative cryptocurrencies beyond Bitcoin and Ethereum. While offering instant transactions and no fees, withdrawal options may be limited to specific altcoins.
Neteller: A popular e-wallet service allowing secure and convenient online transactions. Deposits with Neteller are instant, and withdrawals are typically processed within 1 hour.
Skrill: Another well-known e-wallet service offering instant deposits and fast withdrawals, making it a preferred choice for many traders.
Perfect Money: A digital payment system enabling instant transfers and withdrawals. Perfect Money transactions are typically processed promptly, ensuring efficient fund management for traders.
| Method | Regions Covered | Transfer Fee | Funding Time | Withdrawal Time | Notes |
| VISA/MasterCard | All | 5% | Instant | Up to 1 hour | Standard method |
| Bitcoin | All | No fee | Instant | Up to 1 hour | Preferred method 1 |
| Ethereum | All | No fee | Instant | Up to 1 hour | Preferred method 2 |
| Altcoins | All | No fee | Instant | Up to 1 hour | Limited to specific cryptocurrencies |
Customer Support
Race Option offers multiple channels for customer support, including ticket submissions and phone assistance. Here are the contact phone numbers provided:
Phone Support:
+18299476393
+442080685335
3-395-0396
081-855-7055
+7-499-7033774
These phone numbers allow users to directly connect with Race Option's customer support team for assistance with account-related inquiries, technical issues, or any other concerns they may have. Additionally, Race Option provides a ticket system, offering another avenue for users to submit queries or requests for support online.
Conclusion
In summary, Race Option has benefits like fast withdrawals, multiple deposit options, continuous trading, round-the-clock customer support, and high transaction capacity.
However, there are drawbacks too, such as being unregulated, offering limited market options, potential conflicts of interest, lack of transparency, and no investor protection.
FAQs
Q: How quickly the funds will be added to my trading account？
A: The funds will be available for trading immediately, once we receive a confirmation from the payment system.
Q: How quickly is my withdrawal request processed？
A: Race Option processes all withdrawal requests within 1 hour. However, verification may take longer if the client doesn't submit all requested documents in time.
Q: Does Raceoption withhold a tax from payouts？
A: Race Option doesn't withhold any taxes. However, as a customer, you must follow the tax requirements in your jurisdiction.
Q: How can I close my Race Option account？
A: Please email support@Raceoption.com to request the closing of your account. You will receive a confirmation when this request will be completed.
Q: What is a binary option？
A: Binary options are a simple and potentially very profitable way to make money from short-term movements on the market. By correctly predicting whether the price of an asset will go up or down, you can get a significant income in a continuous way.
A: Do I have to download any software for trading？
Q: There is no need to download something before you can start trading with Raceoption. All you need to do is sign up and add funds to your account and youll be ready to start trading.
Keywords
- 5-10 years
- Suspicious Regulatory License
- High potential risk
Disclosure
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Review 24
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Mayaz Ahmad
Bangladesh
A client has complained about some unethical practices of this broker, like reducing time of rollovers as account starts to grow. He has advised not to trust this broker.
Exposure
2021-07-07
Mayaz Ahmad
Bangladesh
Clients of Race Option cannot withdraw their deposits and call this broker a scam.
Exposure
2021-06-18
ArthurLewis
United States
Having tried several trading platforms, I find RaceOption the most user-friendly. Instant deposits and withdrawals are crucial for maintaining momentum. However, the lack of MetaTrader 4 or 5 for in-depth market analysis is frustrating, even though their copy trading feature is great for learning.
Neutral
07-06
FX4236213546
United States
As a night owl, I appreciate the platform’s 24/7 cryptocurrency trading, which lets me catch some incredible price movements during late hours that I might miss elsewhere. The charting tools are powerful enough to analyze a range of instruments, including exotic pairs. While there’s no native integration with TradingView, I’ve found alternative solutions that work well enough.
Positive
11-14
StevenMills
United Kingdom
I’ve mentioned it before and I’ll say it again—on numerous occasions, the platform’s instant deposit feature has been a lifesaver. One day, when the market was highly active, I spotted a great investment opportunity but had limited capital. In under 30 seconds, I topped up my account and executed the trade. The speed and efficiency of this feature are crucial in fast-paced environments, as they can directly impact success.
Positive
10-15
RobertHammond
Australia
For this reason, I will repeat it as a mantra that the copy trading system of RaceOption profited me much. The other week, I decided to subscribe to a trader who specializes in indices. Occasionally, looking at their moves, chance makes me look at something I never did before and take interest in it. This could be equated to having a one-on-one or trainer within the platform to assist in learning. Besides the friendly interface with the user, it makes me feel today, I am enhancing my trading skills. I have no doubt that they have opened my eyes to the markets in so many ways and would recommend them to anyone.
Positive
09-19
CarlMendez
United States
The RaceOption analytical tools have varied and captivated me. Even these simplest of technologies of displaying time have enabled me to decipher patterns I was heretofore unaware of. One of the features that particularly caught my attention would be the Fibonacci retracement tool that allows me to identify the potential entry and exit levels much more precisely. Evidently, I could attest that these tools have introduced a new dimension to my technical analysis.
Positive
08-28
EduardoParks
United States
But in an odd way, being able to copy others at RaceOption helped a lot in building up my confidence. Observing successful trading strategies react to dynamic market prices in real time has been a great learning experience in my opinion. Speaking of itself, it has instilled in me a kind of confidence during volatile periods in the market, and it’s good to feel that even professionals go through periodic bouts of uncertainty. It should also be noted that traders have a clear trail of performance that can help in evaluating them. There is one thing that I would like to see more in my copy: provided deeper reasons for any trades they make I have still benefited greatly from the learning experience.
Positive
08-15
GaryWoods
United States
Thanks to Raceoption's copy trading, as a beginner, I've steadily grown my account by following seasoned traders' strategies. Instead of trading solo, I diversify funds among different investors, ensuring steady returns while gaining knowledge. Despite wishing for MetaTrader availability, I've achieved a notable 29% gain in 3 months through copy trading alone, bypassing complex analysis. It's an invaluable educational tool, helping me avoid novice mistakes.
Positive
07-21
AndrewTaylor
United States
Ensures reliable 1-hour withdrawal processing without any scam tactics to attract traders. They consistently deliver funds swiftly upon payout requests, making them my go-to broker since leaving the US. Despite blocking US traders due to regulations, their efficient system guarantees non-US traders rapid access to profits.
Positive
07-19
HaroldDunn
Germany
Offers diverse markets like stocks, currencies, and digital assets, ideal for honing trading skills. Its intuitive interface supports seamless navigation and trading. The standout copy trading feature allows learning from seasoned traders.
Positive
07-15
BrianMoore
United States
I was struck by RaceOption's diverse trading markets, allowing me to diversify my investments effectively. The user-friendly interface is ideal for those who prioritize efficiency. They deliver on instant deposits and quick withdrawals, a rarity in online trading.
Positive
07-01
Gary Bowman
United States
As an experienced investor, mirroring trades of seasoned traders has boosted my confidence and success rates. The platform offers a wide range of markets including stocks, currencies, and digital assets, enabling seamless diversification. Their swift withdrawal process, promising withdrawals within 60 minutes, has consistently met expectations.
Positive
06-23
Kent Newton
United Kingdom
I've always been obsessed with building wealth to break the cycle of poverty I grew up in. This online broker has seriously been a game-changer for allowing me to do that from anywhere with an internet connection. Using the copy trading functionality has been an awesome way to get my feet wet across markets like crypto, stocks and forex. And I can't tell you how amazing it feels to be able to quickly withdraw profits and use that cash to pay down debts, invest in my business, or splurge on myself for once! I am still a novice but I am learning more daily thanks to this platform.
Positive
06-12
Rodney Roberts
United States
After a series of bad experiences with shady brokers over the years, I had basically given up on trying to trade or invest for myself. But then a friend couldn't stop raving about this particular broker he'd been using. The transparent pricing, instant deposit/withdrawal process, and overall legitimate vibe convinced me to give it one more shot - and I'm so glad I did! The copy trading feature in particular has been amazing for rebuilding my skills and confidence for absolutely no nonsense or shadiness. My only real criticism is the lack of MetaTrader integration, but that's pretty minor.
Positive
06-05
Jeffrey Hill
Spain
As a retiree living off my portfolio, this broker has seriously been a godsend for growing my nest egg. Their diverse multi-asset offering lets me be strategic diversifying across different buckets like blue chips, bonds, crypto and forex. And the copy trading tool has been amazing for developing new skills and strategies through observing experienced traders. Any time I need to withdraw funds to cover living expenses, the process is quick and easy too despite my large account size. The only minor gripe is the lack of Meta Trader integration, which I'd love. Review 35:
Positive
06-04
Matthew Fisher
United States
I've had Raceoption for a long time now, and the countless trading opportunities I see there have been instrumental in my goading for the money. Because there are so many assets, I can deviate from well -trodden paths and choose the markets that are appropriate in the present situation wisely. An instance are the crypto trades I took in February and attained a phenomenal return. I was still watching EURUSD at this time and the market wasnt giving any clear direction. If not that I had other options, I wouldn’t have made any money that month.
Positive
04-23
David Kennedy
United States
I've been using Raceoption for a few months now, and their copy trading feature has been a game-changer for me. Being able to learn from experienced traders and replicate their strategies has helped me improve my own trading skills significantly. In fact, just last week, I followed a successful trader's lead and made a profit of $300 within a few days. While I wish Raceoption was available in the U.S., its copy trading feature makes it a standout choice for international traders looking to learn and grow their trading accounts.
Positive
04-17
Ruby Suarez
Lithuania
RaceOption's copy trading feature has utterly revolutionized my approach to trading. As a somewhat seasoned investor, I've found it remarkably educational to mirror the trades of those with more experience, gleaning insights, and strategies that have significantly boosted my confidence and success rates in the markets. The breadth of available trading markets is not just impressive—it's expansive, giving me access to stocks, currencies, digital assets, and more, which makes diversification not just a possibility but a seamless reality. In addition to the stellar educational opportunities the copy trading feature presents, RaceOption's commitment to a swift withdrawal process cannot go unmentioned. They stand by their promise of initiating the withdrawal process within 60 minutes, and in my experience, they've never failed to deliver.
Positive
2023-12-08
Tyler3710
United States
RaceOption has been a mainstay in my trading toolkit for several months. The standout feature for me is the copy trading option. It's fascinating and incredibly educational to watch and replicate the trades of those who have mastered the craft. The platform's user-friendly interface means I spend less time figuring things out and more time trading. Instant deposits are a breeze, and I am consistently impressed by how quickly withdrawals are processed—always within the promised 60 minutes. The only con is the lack of MetaTrader 4/5 support, which I feel would elevate the trading experience even further.
Positive
2023-12-01