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Raceoption – Broker Review and Trader Feedback

4.4 / 5

Founded in 2014, Raceoption is a binary trading platform that is owned by the Vanuatu based Finance Group Corp. The platform is however managed by a Scottish management company called Suomen Kerran LP. Although Raceoption operates from the United Kingdom, its operations fall under the regulatory license issued by the Vanuatu Financial Services Commission.

1. General Information

If the name of the company Soumen Kerran LP sounds familiar, this is due to the fact that this company also manages the operations of another binary options trading platform called Videforex. Unknown to most people, the parent company Finance Group Corp is a large company with many diversified interests in online investments.The Videforex and Raceoption brands are part of the Finance Group Corp’s business strategy to diversify their investments to cater to the different demographics around the world.

Regardless of Raceoption’s corporate structure, the trading platform since it first began operations in 2014 is already a relatively known brand among the binary options trading community. The goal of Raceoption has always been to offer its clients a safe and secured environment for traders to trade binaries.

2. Advantages and Disadvantages

Extensive coverage of markets: There are more than 150 different types of underlying assets available for trading with this broker.

High Returns on Investments: Raceoption offers a maximum return of up to 95%. This is higher than the market average of 85%.

Innovative Live Video Chat: Their Live Video Chat service offers a more personalized touch.

Fastest Withdrawal processing Time: Raceoption guaranteed that all withdrawal requests are processed within the hour of the request being submitted.

Demo account restricted to registered clients: All registered clients of Raceoption are able to access the demo account facility.

Withdrawals subjected to minimum amount restriction: The withdrawn amount must at least be $50 before it can be approved.

3. Trading Conditions

With regards to the trading conditions at Raceoption, traders are offered 3 main types of option contracts, Intraday, Turbo and Long Term. These are essentially Call/Put options but with different expiry times. Turbo options have the shortest expiry times while long term options’ expiry times are the longest. As for the return on investments, they typically range from 70% to 90%. However the maximum return can be as high as 95%. Raceoption is also quite flexible with the size of the trades that their traders can make. For example, they can invest with as little as $1 or as much as $1500 in a single trade.

4. Underlying Assets

In terms of market coverage, there is an extensive range of underlying assets at Raceoption to choose from. The underlying assets are all chosen from major asset classes such as currency pairs, commodities, equities and market indices. For currencies, there is a choice of 15 pairs. As for commodities, traders at Raceoption have 9 types to choose. Next, there are 35 indices to trade with. For stocks, traders have a choice of 80 international stocks to select from. A master list of showing all the available underlying assets can be found on Raceoption’s website.

5. Trading Platform

The trading platform that can be found on Raceoption’s website is the same platform that is used by all the brands under the FGC Group. A web based proprietary platform which is accessible through any web browser, the trading platform is easy to use and is well designed in terms of navigational interface. The available assets are prominently displayed on the left side on the trading screen. In the middle of the trading screen, you get a large price chart. Prices are updated in real time and you can easily follow the performance of the asset. The trading parameters can be set through the tabs found on the right side of the trading screen.

While simple when compared to the trading platforms used by other binary options brokers in the industry, the FGC Group has designed their trading platform well in order to meet the trading needs of their clientele. It has one innovative feature that is not found on any other trading platforms found in the industry which is the live video chat system. The live video chat is not only innovative but also helps to provide Raceoption’s traders with a more personal touch.

6. Mobile Trading

Apart from making their trading easily accessible though a web browser, Raceoption has also provided their trading platform for mobile usage. Designed for iOS and Android powered devices, the mobile trader offers Raceoption’s traders greater mobility by letting them trade straight from their smartphones or tablet computers. The mobile apps are built around the desktop platform and provide superb market access as well. Apart from enabling traders to access the Raceoption trading platform with the apps, Raceoption has also made their website mobile friendly. This means that smartphone users can also access the web based trading platform directly without having to rely on the mobile trading apps.

7. Demo Account

While Raceoption does provide a demo account facility, unfortunately it is only accessible to verified traders that have already funded their trading account. We find this odd as the whole purpose of a demo account is to let potential clients test out the trading platform first before they commit to signing up for a live trading account with Raceoption. Nonetheless, the fact that Raceoption does offer a demo account is still better than the majority of the brokers in the industry that do not provide such a facility.

8. Account Types

Trading accounts at Raceoption are categorized into 3 types, Bronze account, Silver account and Gold account. The minimum deposit for the Bronze account is a mere $250. This account is targeted towards beginner traders who are not confident enough to risk a large sum of money until they are more familiar with trading binaries online. With the Bronze account, traders are also given a 20% deposit bonus and access to the demo account for them to practice with.

For the Silver trading account, a minimum deposit of $1000 is required. Geared towards traders with more online trading experience, this account offers a 50% deposit bonus as well as access to a Master class. It also comes with a “First 3 Risk Free trades” bonus.

Among all the trading accounts provided, the Gold account is the highest level trading account. It requires a minimum deposit of $3000 to open. Benefits of this account include a 100% deposit bonus, all the benefits found in the silver account and access to a personal account manager. Gold account holders are also given a Swiss prepaid card to facilitate their withdrawals.

9. Opening an Account

To open an account at Raceoption, simply go to Raceoption’s homepage and click on the “How to Start” tab to drop down the sub menu. On the sub menu, click on the “Open an Account” tab in order to access the registration form. Simply complete the form and submit it to open your trading account.

10. Funds Withdrawal

Withdrawal of funds or profits at Raceoption can be done through credit cards, eWallets or bank wire transfer. All major credit cards such as VISA or MasterCard are accepted by Raceoption for funds withdrawals. For eWallets, the supported methods include PayPal, Neteller, WebMoney, OKPay and QIWI. Bank wire transfer withdrawals are also supported apart from credit cards and eWallets.

However Raceoption has a requirement that the withdrawn amount must be at least $50 before the withdrawal request can be processed. In addition, the first withdrawal can only be initiated when the trader has achieved 10% turnover of their deposited funds. For example, if the deposit amount is $1000, then the trader must ensure that his trading volume has reached $1000 as well. If he has received a bonus, then the required turnover volume will be 300%. Despite these requirements, one of the major plus points about Raceoption is their withdrawal processing time. The broker has guaranteed that all qualified withdrawal requests will be processed within the hour.

11. Trader Training

As for the educational resources at Raceoption, the tutorials offered are pretty basic. While the information offered is sufficient to get a novice trader started, it will still require many more hours of training before we can say if a person is adequately trained.

12. Should I Trade With Raceoption?

Overall, we were quite satisfied with the quality of Raceoption’s services. While there are certain areas where their services can be improved upon, Raceoption has managed to make up for those deficiencies by introducing a more personalized approach with their customer support. For the first time in the industry, traders are able to see who they are dealing with as opposed to talking to a faceless entity behind the computer screen. In addition, their pledge to process all withdrawal requests within an hour is also the first for the binary options trading industry. These initiatives demonstrate the fact that Raceoption is serious about establishing a reputation as a leading binary options broker in the industry and is worth a tryout.

Reviews on Raceoption

Comments about Raceoption
( 11 )
User rating: 4.3 / 5

Comments: 11

  1. avatar
    Richard Ohlmann
    07/06/2018

    Do you work with any binary options robots that are available to u.s investors?

  2. avatar
    Sofia
    22/08/2023

    Don’t trust them they are a fake company, with fake promises, and they will convince you to invest your hard-earned money with them, don’t be fooled by all these scam investment brokers and account managers, I was scammed of $43,000 of my investment capital, they kept on requesting for extra funds before a withdrawal request can be accepted and processed, at the end I lost all my money, All efforts to reach out to their customer support desk were declined and I found it very hard to move on. Luckily I came across a comment on a recovery website that recommended a funds recovery expert on binary/forex and bitcoin investment recovery, in the person of Mr. Fabien and I contacted him immediately through his email address and explained my issues with my investment broker to him, God so kind, him and his team worked relentlessly to recover my funds, and was able to build a case on the scam broker with the information I provided about my trading experience and my funds refunded back to me within a week interval, I was able to get access to my funds back with his help, I still can’t believe how possible it is to get my invested capital back, including my bonus with the company. I know some people must have been a victim of any scam investment broker. I feel obligated to recommend him and his great fund’s recovery strategy, feel free to reach out to him if you having issues withdrawing your funds you contact him via his email address: ([email protected]) and he will guide you on steps to take, and get your invested capital including your bonus refunded back to you

    5/5

  3. avatar
    tonyluis309
    07/09/2023

    My experience here was a very terrible one. After I had made my second deposit I was blocked out. Nothing I did worked. I was so frustrated and giving up on my money when Mrs. HARPER JAMES came to my rescue and helped me out with the issue. I would have been in a big mess if I had not met Mrs. HARPER JAMES: HARPERJAMESPLATFORM  @  G  MAIL   COM personal email them privately. I wish to recommend Mrs. HARPER to anyone in recovery of loss. She saves me and I believe She can also save others who have run into loss.

    1/5

  4. avatar
    nilubabbu
    02/10/2023

    I decided to leave a review about Cashfx, because this might be helpful. I invested about $67,000 into this platform with the aim of diversifying my trading portfolio. However, with my strict habits of growing my account 100% before taking profits, I never attempted any withdrawals, not until two months when I tried to withdraw but all effort was in vain. I called the account manager and explained the situation, he told me I would be able to withdraw after 4 working days which sounded shady to be very honest. 4 days went by, still no withdrawals. I did research about recovery tech and came across Frecuperation. They are best in dealing with online scam and assisting victims in receiving reimbursement, tracking down digital fingerprints, cyber analysis and thorough investigation. They can be contact on email [email protected]

    2/5

  5. avatar
    Johnson Murray
    14/10/2023

    I can say this after my experience with him so please avoid this company by all means. I invested over 2 months a sum of 157,000 euros with intelbondfx, but they took off with my money. ‘W’ kept requesting for money with different excuses. It was until I reported to cp-investigation (.) com that forced a charge-back from intelbondfx before my withdrawal was processed. Investors should avoid brokers like this.

    5/5

  6. avatar
    koven
    07/11/2023

    I invested over $250k trading online and all access to make withdrawals of my funds was denied, I got in contact with the customers support but didn’t get a reasonable response from them, all my funds including my profit was stuck on the platform. I was so sad being frustrated over things, until I was advised to contact gavin ray a well known recovery specialist by a friend of mine who has also encounter withdraw issues solved by Gavin , I texted him and presented all legal documents and following all procedures he instructed and he successfully initiated the withdrawal confirming the payment into my bank account, i recommend his services to anyone you can contact him on email gavinray78 gmail com or WhatsApp ‪+‪1 (352) 322‑2096‬.

    4/5

  7. avatar
    James blood
    23/01/2024

    If you have experienced substantial financial loss as a result of fraudulent binary option investments, it is important to file a complain about the scam broker and obtain a chargeback service in getting back your asset, I recommend gryphon solicitor as a reliable recovery firm proceeding with their assistance in recovering your asset. I have come across positive feedback about gryphonsolicitor. com, I have use there and gain positive outcome and would recommend them which may be worth exploring in securing a legal chargeback service.

    4/5

  8. avatar
    Jay Doris
    16/02/2024

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    3/5

  9. avatar
    Nicholas
    24/02/2024

    You can deposit money and trade but When you want to make withdrawal of your funds they seem to reject it, Which means you can accumulate ur asset on their page , After asking for a withdrawal, I sent another email, but I got no response. When I contacted Gavin ray a recovery specialist for assistance, he looked into the matter and made the necessary arrangements, so I had to take the proper steps in order to receive my money back. He gave me a full refund of the money that was held on the platform via his mail Gavinray78 gmail. com or WhatsApp +13523222096 ,It was a negative encounter with the platform

    3/5

  10. avatar
    Elizabeth jones
    01/03/2024

    Most binary option platforms tend to be unregulated you can deposit more without getting your withdrawal, I was able get my withdrawal issues solved immediately with the help of Gavin ray, he has done so well for me when I reached out to him on his mail [email protected] or WhatsApp +13523222096 he helped me in placing a recovery from the platform and restores my funds.

    1/5

  11. avatar
    Sofia
    18/05/2024

    if you are having a withdrawal problem or your investment manager is asking you for more deposit before you can withdraw your money from your trading account. Or Do you have funds you wish to withdraw from your binary broker Forex trade or crypto currency account ? or you are having withdrawal problems with your account and you don’t know how to go about it. feel free to email Mrs ([email protected]) and she will guide you on how to get back your funds in an interval of one week even if you have also lost money to any other company she can still help you to recover any of your lost funds back

    5/5

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