Raceoption Broker Review 2017
- US Traders
- 150+ Assets
- 1-2 Day Payouts
- Mobile Friendly
- Low Min. Trade
A recent entrant into the binary options market place is Raceoption, a UK company with a very user friendly trading platform and a clear understanding of the technical requirements of the binary options trading environment. Launched in 2014 and based in London, they are one of the few brokers to accept US customers and in fact trade across all nations.
The number of assets available to trade on is in excess of 150 and the currencies available to trade in are USD, EUR, RUB and GBP. Currently you can trade in a choice of languages including Spanish, French and Russian. The site is clearly built with the user in mind and the first noticeable thing to occur when you land on the site is the customer service chat pop up box asking if you need assistance.
Although only having launched recently Raceoption have been able to use the market demand to tailor their platform to what traders are looking for. This includes the technological features of the site, the bonuses and payouts on offer and the unique features offered such as Paypal and 1 hour withdrawals.
Why is this broker the one for you? In this detailed Raceoption review we explain:
- What this trading platform has to offer you as a binary options trader
- How they have used their delayed entry into the market to their advantage
- What bonuses and payouts Finapri has to offer you when you sign up and trade
Quite simply the account types offered by Raceoption are a combination of the most demanded services by traders. Rather than offering a whole host of accounts from the standard basic account right up to the VIP exclusive account with all the bells and whistles they give the trader a choice of Bronze, Silver and Gold. To complete their account offerings there is a free Raceoption demo account available on request, so be sure to ask and test that out first before trading with real money.
The Raceoption Bronze Account requires a minimum deposit of $250 and offers a bonus upwards of 20%, a trading course consisting of a book and video and a demo account which are a popular condition of most traders. 1 hour withdrawals are available as standard with all Raceoption trading accounts. Once you open an account you will receive not only your match deposit bonus but also a free gift.
With a deposit of $1,000 you can open up a Silver Account. The bonus potential with a Silver Account is 50% and upwards and you get all the benefits of a Bronze Account plus the addition of plus a masterclass web session, first 3 risk free trades and trading protection. The Raceoption Silver Account is in fact their most popular trading account amongst their clientele.
The top end of their trading accounts is the Gold Account with the features of a Silver and Bronze Account as standard plus the addition of many more. To open a Gold Account you will need a minimum of $3,000 dollars with a maximum deposit amount of $50,000. A Gold Account sees the addition of your own account manager to help you with your trading requirements.
Trade Types And Payouts
The maximum payout from successful Raceoption trades is 90%. Trading options are as follows.
Perhaps the most popular choice of options the High/Low option is also known as the Call/Put options and is simple to execute. Simply decide whether the asset will rise or fall in a designated time.
60 Second Options
60 Second trades need a steady approach and a level of concentration and a quick reaction to trading opportunities. They are quite simply, as the name suggests, 60 Second or one minute expiry times so you don't have long to spot and cease the moment.
Ladder trades, where the various price points are located at an equal distance apart, mean that there are several opportunities to yield results. Essentially reaching any of the price points before the expiry time will see returns but none as high as reaching the highest of the price points.
One Touch Options
Another simple way to trade, the One Touch option is based on whether you think your chosen options will touch a target price before the expiry time.
Long Term Options
Whereas many trades are places over short period of time with an expiry time of say 60 seconds to an hour with Long Term trades the trader makes their predictions of what will happen to the price of an asset over a period of a week or so. This does require patience however and the results are more long term.
Latest Winning Trades
Bonuses And Promotions
The bonuses on offer from Raceoption are dependent on the type of account opened and can vary. With a bronze account you can achieve a deposit match of bonus of 20% or upwards whereas when opening a gold account this rises to 100% plus.
As well as bonuses there are also other promotions available such as a free gift when you open a Raceoption account. The broker also operates a weekly free contest with a prize fund of $20,000.
It's no surprise that as a late entrant into the binary options trading space that Raceoption entered with its eyes wide open to what traders wanted. This is certainly apparent when it comes to their online trading platform which not only caters for desktop users but also has a really intuitive, mobile friendly trading option.
As well as fully responsive mobile site there is also an app available on the Apple App Store or on Google Play. The mobile app experience has been carefully considered and designed to give the trader the ultimate trading experience and it works flawlessly on all devices including Android and iOS (iPhone and also iPad).
Deposits And Withdrawals
Raceoption have really set themselves at the forefront of brokers with their 1 hour withdrawal service. Whereas most traders have to wait between 24-72 hours for their withdrawals to be available to them with Raceoption the money is returned within an hour regardless of what type of account the trader is using. We tested this 1 hour service and are happy to report we had no withdrawal problems doing so.
They are also one of the few brokers to accept PayPal meaning that the service is accessible to so many individuals looking to trade. Deposits can be made via credit or debit card or one of the increasingly popular e-wallets. At time of writing the minimum a trader can deposit is $250. Charges for these services need to be considered and whether you will pay per transaction or a percentage of the transactions made.
Raceoption have many special features, in fact we could probably dedicate most of this review to their special features, which can be credited to their recent launch. Whilst any brokers who entered the market place earlier on have had to learn as they go and keep up with a very fast paced technological world, Raceoption have been able to sit back, take stock and bring a product to market that they knew that traders are looking for.
Their website is sharp, it is intuitive and user friendly even down to the colours of site. The mobile offering makes it accessible to any means of trading and the simplicity of the platform, account types, payouts etc. make them a serious contender in the binary options trading space.
Their education centre and demo accounts alongside all of their other features make them a broker with a lot to offer but perhaps their most special feature are the fact that they accept US traders, which is rare in the current market place given the strict US regulations, and the fact that they offer 1 hour withdrawals. Let's face it who doesn't want to get their money back a lot quicker than 3 days?
Expert Broker Reviews
It is evident from the outset that Raceoption offer a good level of customer support contact whether on the desktop site or on a mobile device. As soon as you arrive on the site a pop up chat box appears asking the visitor if they would like any help. With many sites you have to scroll to the bottom of the page looking for the very small "contact us" link but with Raceoption their contact number is clear for all to see at the top left hand corner of the site along with options to start a live chat with a customer service expert. This ease of contact further goes to enhance their reliability and trustworthiness as a broker.
We're going to complete our Raceoption review here. As always we scour the web for complaints and reports of rip off scams. We also test the brokerages to see things for ourselves. During our vigorous review process we found nothing of concern and all fingers to point to a legit broker who wants to do things the right way.
It is clear to see that Raceoption mean business and that their all-round offering to traders is making them a serious competitor in the binary options market place. From the ease of access of their trading platform to the fact that they offer such good withdrawal terms you can't help but feel that this broker is going to experience a lot of growth quite quickly. It's no surprise that they are experiencing such great support and success so far.
With a base in London, reputable licensing, an acceptance of US customers, a fantastic trading platform and many more offerings they are ticking all the boxes when it comes to having everything that a trader is looking for.
Reviewed by: BinaryOptionsExpert.net
More Broker Reviews
Is Raceoption legit, will they scam me?
All of the binary options brokers recommended by us are legitimate, regulated and have the appropriate licensing and Raceoption is no exception. We review each and every one of the brokers that we recommend and are happy to put our name to them. We look at every aspect of trading with each binary options broker and only satisfy our own questions by trading with them ourselves and learning from our own experiences.
Do they have a decent mobile or tablet app?
Raceoption is a new entrant to the binary options arena and have come into the market offering the best of everything. Their platform is technologically advanced to keep up to date with the best that technology has to offer to ensure that traders get the best experience. As well as their desktop offering they also have a great mobile site and an app for Android and iOS.
What bonus do they offer for new traders?
Like many of their fellow binary options brokers Raceoption offer a welcome bonus ranging from 20% to 100%. As with other brokers the amounts are similar and work on a sliding scale. If you were to deposit $250-$300 dollars you would get 20% bonus, $1,000-$1,500 dollars gives you 50% and $3,000-$6,000 is 100%. There are other sign up bonuses including no deposit bonuses available and incentives like gifts when you open certain accounts.
Can I start trading on a free demo account?
In a manner of speaking yes. A demo account is completely free to use once you open a Raceoption trading account. To open your account you will need to deposit $250 dollars which is the minimum amount required. Once you have used the demo account, and if you decide it's not for you, you can then withdraw your $250 and learning to trade won't have cost you anything. Once you have registered for your account you should automatically get the Raceoption demo.
What's the minimum deposit and trade amount?
The minimum deposit amount required to open a Raceoption demo account is $250 which will get you the bronze account. The minimum trade amount is amongst the lowest in the industry at just $1 per trade. This lower trading amount means that you can start trading with a low risk as you get used the platform and start to form your strategy. Once you have got used to trading on the Raceoption platform you can increase as necessary.