Raceoption – review and recall of the trading platform for options, forex, CFDs

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7 Binary Options

Marcio

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RaceOption is one of the newest brokers offering an investment platform to anyone who wants to trade online. The company has just started receiving and accepting clients internationally. Interestingly the service and its platform have been created by a team of experts.

These experts happen to be from various industry including high-frequency trading, the forex market and have experience using multiple CFDs for profits. As an investor one of the things you should be mindful of is the fact that your broker is legit.

It is for this reason that we always recommend that our readers research a broker and their service before joining. We went ahead and conducted the required research into RaceOption to determine if they could be trusted despite their authentic persona. Later we concluded that it is a legit broker and 100% reliable. You can find the complete review of the broker below which also goes into what they offer.

Why do we think that RaceOption is Legit and isn’t a scam?

Well for starters we could find a great deal of proof showing that RaceOption has a platform that works and they are in fact making it easy for investors to trade. Plus, this is a regulated broker and as such as they have a license for operating their brokerage online. If anything this is a guarantee by any measure that your funds are secure as the company has to adhere to the strictest standards.

RaceOption allows to you predict market directions very easily

The other important thing worth mentioning is that all personal information is encrypted. So, everything you enter into the platform cannot be hacked. Plus, your investment is segregated into a different account and is protected by an Anti Money-Laundering act, and the bank’s Know Your Customer policies.

Features

  • RaceOption does not cost anything
  • Requires just a $250 minimum deposit (the minimum deposit is considered as your capital investment which is used to place trades. Otherwise maintaining an account is free on the platform).

Additionally, account holders are required to provide the brokerage with proof of their identity which is linked to the account. Identity verification is carried out each time funds are transferred to and from your trading account. All of this is set in place to ensure that nobody misuses your funds or impersonates you.

Above are just a few reasons why we think RaceOption isn’t a scam broker but instead one that you can trust with your investment. Plus, there are many other things we uncovered about the platform which helped us conclude this assessment.

The best way to use RaceOption

RaceOption has ensured that their platform is easy to use and understand. The broker has trading options for well over 150 assets which are listed in four major categories. One of the most innovative aspects of the platform is its ability to help traders trade cryptocurrencies such as Bitcoin.

After you have signed up for RaceOption, you make an initial deposit which will then give you access to the service’s trading platform. The platform has been made user-friendly and easy to navigate. The platform will show you a couple of things which include:

  1. Tradable assets
  2. Price movements of assets
  3. Overall trader sentiment about each asset
  4. What you can expect in the event of a win when investing in that asset

Using the platform you can choose how much you want to invest per trade and for how long. After the trade expires, you’ll be informed of a win or loss. If you have other work to do then obviously you will not be waiting around for the asset to expire though you’ll be informed of the outcome nevertheless.

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Graphs and Charts let you stay up to date with the latest market movements

The other primary reason to choose RaceOption is that their platform is available for both iOS and Android devices which makes it possible to trade on the move.

How to signup for RaceOption?

The first step to start trading on this platform is to complete the registration formalities online. You’ll need to choose an account type, i.e., Silver, Bronze, or Gold. Each account type has its own set of features which includes initial deposit amounts. Plus, if you want more features later on its possible to upgrade your account.

You should find complete details about all features for each account type on the broker’s website.

After you have chosen an account type, you just need to signup by submitting all your personal details after which you make an initial deposit. If anything you can start with just the basic account and a $250 minimum deposit. Once funds are added, you can start making investments right away.

A Demo Account

The other great feature of RaceOption is its demo account. The demo account is excellent for those who have very little or absolutely no experience but allows them to get the required experience and skills to start trading. In our experience, only reliable brokers provide demo trading accounts.

All withdrawal requests made by investors are processed swiftly. RaceOption also has account types which allow for transactions to be processed within just an hour. Plus, they offer 24/7 customer support which will help you at every step. You can contact the professionals at the company via email, chat, and over the phone in many different languages.

Final Verdict

After thoroughly investigating RaceOption we can safely say that this is an ethical and authentic investment partner. The company treats all clients with respect and responds to inquiries in a very short time but professionally. The encrypted platform ensures that your funds are safeguarded against malicious individuals.

Interestingly, novices will find that the platform has been optimized for their needs, yet offering professionals all the bells and whistles they’ll need to make a profit. The fact that you can start with just a $250 deposit and even withdraw money on the very same day make it a strong contender in the industry. We can openly and confidently recommend RaceOption to all investors and traders.

7 Binary Options review: RaceOption: 4,5 stars.

Forex Options

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

RaceOption Review and Bonus Info

Those who want to try themselves at online trading should be very careful because only one wrong step may leave them without a cent. Speaking about “the wrong step”, the choice of a broker is meant. Only a trustworthy company with a clean reputation can be considered as a place for making investments.

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Yet not all of them are suitable for beginners. The interface of some of them may be not easy to sort of. Besides, those who have little to no experience in online trading need to get some special knowledge and skills to be able to succeed.

Even though RaceOption is a relatively new broker on the market, it can be a great choice for those making their first steps in online trading. Experienced market players will also find a lot of interesting options for themselves when dealing with RaceOption broker company.

Every trader searching for a broker to invest with wants to know who he will entrust his money to. The review will cover the topics of the platform peculiarities, deposit and withdrawal methods. In addition, the users will find a manual on earning money with Race Option. Yet these are only some of the topics that will be discussed.

About RaceOption

RaceOption is registered in Seychelles and is run by Race Projects Ltd. Despite its novelty, the company has already gained trust and respect of its numerous clients. RaceOption doesn’t provide any services on the territory of the United States

The broker offers about 150 trading assets, which are divided into four categories:

  • Stocks (e.g. IBM, Tesco, Nike, Apple);
  • Currencies (including cryptocurrencies);
  • Commodities (oil, sugar, coffee, platinum, gold, silver);
  • Indices.

Except for English, the clients of the service can currently use Spanish, Russian, French to operate the service. One can use USD, GBP, EUR or RUB to fulfill the financial operations. There’s also a possibility to use some cryptocurrencies (Bitcoin, Ethereum, Litecoin, Dash) for the trading account.

All the functionality of the trading platform is available through its website so there’s no need to download any software to start using the service. Trading with RaceOption is available only for the registered users who have deposited a definite sum of money to their trading account. Registration with RaceOptin is free of charge.

A RaceOption trading platform gives a possibility to its new clients to try a demo account, which can give them a general understanding of what online trading is. Besides, it lets the traders build up some strategies to get the most of their investments. There is an Education Center section, where new users can learn the basics about binary options trading, CFD, and Forex.

New traders can also use a Copy Trading feature of RaceOption. It allows any client to copy the actions of a successful trader to make his way to the profit. Besides, keeping an eye on the process, one can learn more about online binary options trading.

Is RaceOption Legit?

There are two basic and indisputable things that can prove the legitimacy of the broker. The first one is the license it has for the brokerage activity. And the second one is the regulation of a trading platform. It means that any kind of controversies can and will be solved by an appropriate legal organ.

The broker uses SSL encryption technology for protection of the client’s personal data and the information concerning all the financial operations.

All the investments made by the traders fall under Anti Money-Laundering act. What’s more, to be able to withdraw the funds, every trader has to verify his identity with a copy of a document. It allows to avoid fraud and again proves that RaceOption is not a scam.

How to work with RaceOption?

To start earning money with RaceOption, one needs to fill in a brief registration form. It contains name and surname, phone number, e-mail, and password. At this stage, a user has to select the currency of the trading account, agree to the terms of the website use, and confirm that he is out of the US territory. Besides, the client can use the promo code in case he has one.

The next step is making an investment to the newly created account. The page for account funding will open after pushing the “Account funding” button in the upper right corner of the trading page.

By pushing this button, the client will be taken to the account funding page. There he has to choose the type of the account and the amount of money he wants to invest. After making the choice, the trader has to choose if he wants to get a bonus on his first deposit or no.

At the same page, the client is offered to choose the funding method.

On completion, when the account is already funded, the client can start trading. Those who don’t have any experience in this matter can try using a Demo account. It can help to understand the principles of the trading platform usage and work out some strategies without the risk of money loss.

All the assets available for choice can be found on the right side of the trading page. There the user can also switch from CFD/Forex to Binary options. The middle of the page is given to the trading screen. The right side of the trading page is the order area. One should choose the option type, time, and the amount of money to trade. Everything is left, is to pick either call or put to make the money work.

Those, who choose CFD/Forex for trading will see a bit different picture on the screen. In the order area, they will only have to select the sum of money they want to invest and then push “Buy” or “Sell” buttons.

The traders can use some extra options like double up, roll over and sell now to expend the time for trading, raise the sum of money they want to trade or sell out the assets to stop losing money, for example.

Trading Platforms

The broker has a plain but quite functional trading platform, which is convenient for the newbies. Yet it will also satisfy the needs of experienced traders. RaceOption platform supports forex, CFD, and binary options trading. The latter is available in three types:

  • Turbo (from 1 to 30 minutes);
  • Intraday (from the moment of starting the trade up to 00:00);
  • Long term (a month-long period).

There are three versions of the platform – web version and two mobile versions (for iOS and Android). The apps can be downloaded to mobile devices for free.

Deposits and Withdrawals

There’s no way the traders can try out RaceOption broker until they register and make a deposit to their trading account. The users get access to the Demo account only after making an investment.

Making a deposit is possible via:

  • Visa/MasterCard;
  • Bitcoin (a trader gets +5% to the deposit made with this method);
  • Other cryptocurrencies (Ethereum, Litecoin, Dash, Zcash, Tether);
  • Perfect Money;
  • Wire transfer.

A transfer fee is charged only when Visa or MasterCard are used, yet the funding is instant. The trader won’t need to pay for the transfer using other methods. But he may need to wait for about an hour before the funds will be placed at his trading account.

To withdraw the costs, one can use the same methods as for making an investment. Yet there are some more options, for example:

It should be taken into consideration that the trader can withdraw the money from his trading account only to the same bank account or E-wallet he has used for making a deposit. Withdrawal to MasterCard is impossible so some other methods should be considered.

RaceOption can boast of a very speedy withdrawal – up to 1 hour. Yet, it has to be taken into account that this is the time needed for fulfilling a transaction of the verified traders.

In order to verify the account and be able to withdraw the gained money any suitable time, the user has to submit a notarized copy of his ID and the proof of his address (e.g. utility bills).

Account Types

RaceOption is a broker offering different types of accounts, each of which comprises a basic set of tools, plus bonuses and special features to make the time spent on the platform more profitable. Depending on the sum a trader is ready to invest, he can choose Bronze, Silver or Gold accounts. Let’s have a detailed look at each of them to know what one can get for his money.

A Bronze account offers the basic set of features needed for a new or experienced trader. To purchase it, the user has to invest anywhere between $250 and $999 or the equivalent sum in euros. In the Bronze account package one can get:

  • Possibility to use a Demo account;
  • Live video chat availability 24/7;
  • Ability to use Copy Trading tool;
  • Withdrawals processing within an hour;
  • 20% welcoming bonus.

Choosing the type of account, the user has to know that he can upgrade it any time he feels the need or gets financial opportunities. So, the Bronze account can be a good choice for inexperienced investors who still need to learn and work out their trading strategies. It saves them from serious financial loses, but gives a field for development. What’s more, the users get a free gift right after the registration.

Bigger investments give more possibilities. When the sum of the deposit crosses the figure of $1000 and reaches up to $2999, the user becomes an owner of the Silver account. It offers the following features:

  • Round the clock live video chat;
  • Master class (web session) on binary options trading;
  • Possibility to withdraw the costs in 1 hour;
  • Demo account use;
  • Use of the Copy Trading tool;
  • Individual account manager;
  • 50% welcoming bonus.

Even though the number of services is only two more than in the Bronze account, their value is much higher.

The highest account level on RaceOption is called Gold. To get it, a trader has to invest the sum exceeding $3000. A maximum one can invest is $10000. The users of the Gold accounts get a whole package of services the broker can offer. Here belong:

  • Integrated technical analysis;
  • 24/7 live video chat;
  • Individual account manager;
  • Master class (web session);
  • 100% bonus for the first deposit;
  • Copy Trading tool;
  • Possibility to use Demo account;
  • Funds withdrawal in 1 hour.

Gold account is a choice of traders who are confident about their trading strategies and are not afraid of losing the funds.

RaceOption Bonus Code

One of the things, which attracts both new and experienced clients to Race Option, is that it offers bonuses and special prizes to their new and regular traders.

The sum of the welcome bonus depends on the amount of the first deposit. A minimum one can invest is $250 or the equivalent sum in any other currency available within the service. A bonus for the sum between $250-$999 equals +20%. Traders placing $1000 – $2999 to their account can get a 50% bonus. In case the first deposit crosses the figure $3000 and up to $10000, the investor may be granted 100% bonus cost.

Every new person joining RaceOption gets a present – a series of video lessons on online-trading. In addition, there’s a possibility to win $1000 a week. To do this, one has to get into the first 20 most active traders.

However, all the bonuses are optional and the trader can refuse to take them. The biggest bonus sum of bonuses a client can get during a year is $100000.

Conclusion

RaceOption is a licensed and trustworthy broker, which takes care of its client’s safety. And what can be more important when it goes about investing the funds?

The 24/7 work of a customer support team shows that the company thinks about the convenience of the users. They may be reached via phone or live chat thus, there’s no need to wait. The support is provided instantly.

The site of the broker is simple and easy to navigate. It is adapted to the needs of the newbies yet keeping all the tools needed for keen traders. Thus, the auditorium of its users can be very wide.

The company is only starting its activity on an international level and, who knows, maybe in a couple of years, it will become a leader of the online brokers’ rating. Its policy concerning the minimum sum of the first investment and the swiftness of the withdrawal makes RaceOption a serious player on the market. In conclusion it should be said that RaceOption has all chances to become a key to someone’s financial success.

Trading FX options

An FX option (foreign exchange option or currency option) is a financial derivative that gives the right, but not the obligation, to buy or sell a currency pair at a set price (called the strike price) on a specified date (called the expiry date).​

A call option gives you the right to buy, a put option gives you the right to sell.

FX options are, for the most part, fundamentally driven by the same factors that drive the underlying currency pairs, such as interest rates, inflation expectations, geopolitics and macroeconomic data such as unemployment, GDP, consumer and business confidence surveys.

There are two styles of options; European and American. The European-style option can only be exercised on the expiry date. The American-style option can be exercised at the strike price, any time before the expiry date.

Please note CMC Markets does not provide the ability to trade FX Options, this information is for educational purposes only.

How are FX options traded?

FX option traders can use the ‘Greeks’ (Delta, Gamma, Theta, Rhio and Vega) to judge the risks and rewards of the options price, in the same way as you would equity options.

The risk for an option buyer is limited to the cost of buying the option, called the ‘premium’. An option buyer has theoretically unlimited profit potential. Conversely, for an option seller the risk is potentially unlimited, but the profit is fixed at the premium received.

Access to FX options

FX option contracts are typically traded through the over-the-counter (OTC) market so are fully customisable and can expire at any time. In the spot options market, when you buy a ‘call’, you also buy a ‘put’ simultaneously. For example, a trader might buy an option for the right to purchase one lot of EUR/USD at 1.00 (or parity) in three months. This is a ‘EUR call/USD put’.

FX options are also available through regulated exchanges which are options on FX futures, in which case it is simply a call or a put. These offer a multitude of expirations and quoting options with standardised maturities. When traded on an exchange, FX options are typically available in ten currency pairs, all involving the US dollar, and are cash settled in dollars.

Why trade FX options?

One of the most common reasons for using FX options is for short-term hedges of spot FX or foreign stock market positions. For example, if you were buying EUR/USD but you thought there might be a short-term decline in the price, you could also buy a euro put option to profit from the decline while maintaining your buy. You could also sell EUR/USD short at the same time as buying.

There are many bullish, bearish and even neutral strategies that can be implemented with options contracts. Spread strategies that are used in equity options can also be used with FX options, including vertical spreads, straddles, condors and butterflies.

An FX option can either be bought or sold. Options prices are derived from the base currency, which is the first currency in the currency pair (eg euros in EUR/USD). If you are bullish on the base currency then you should buy calls or sell puts, conversely if you are bearish you should buy puts or sell calls.

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