Raceoption Broker

When it comes to finding a good broker for trading, one often has to play detective and do a lot of research. But we, as usual, did the entire job for you. Today, our radar is focused on Raceoption Broker. Read our review to know whether you should trust this company a penny.

What is Raceoption Broker?

Raceoption is a broker that offers Forex, binary option and cryptocurrency trading from a single platform. For this reason, some users call Raceoption a next-generation brokerage.

The brand belongs to Race Projects Ltd, whose office is registered at 306 Premier Building, Albert Street, Victoria, Mahe, Seychelles under the registration number 114612. The company runs on behalf of FGC (Finance Group Corp). Customer support is delivered via online chat, email, and several phone numbers.

Is it a scam broker?

It is not fair to call Raceoption a fraud company because reviews on its name are mixed (just like it is with any other broker). However, there are some red flags that give pause for thought. These suspicious moments include:

  • Their regulated logo. On the top and bottom of their website, you can see a large, eye-appealing and, at first glance, reliable Regulation widget. But clicking on it brings no results: no information about the regulatory body the broker complies with or any license number. OK, after doing due diligence, we discovered that the establishment is not regulated by CySEC or FTA – the most authoritative regulators in the field.
  • No info on how they manage the clients’ funds. Generally, serious brokers put the information on how they protect the clients’ money on the homepage and also attach a list of banks where the segregated accounts are kept. But this is not the case with Raceoption. Perhaps, this information is not for a public view, but this, however, does not inspire a lot of confidence.

Trading with Raceoption

Customers have a choice of four accounts (Standard, Bronze, Silver, Gold) with a minimum deposit of $250 for a standard account. Whatever type of account you pick, you will be granted a bonus (you may refuse it, if you want). The bonus size depends on the account type. Bonuses are used only as an additional margin to increase the order volume and as leverage and cannot be withdrawn.

The catalog of trading assets available is really extensive:

  • Over 80 Stocks
  • Over 40 Currencies including crypto
  • 9 commodities
  • Nearly 40 Indices

Raceoption has an in-house web-based trading platform. Interestingly that the company states they have the same-name mobile applications for Android and iOS, but in Google Play Market, there is no Raceoption app (another red flag?).

The trading terminal has a simple design, and users can easily switch between Forex/CFD and Binary interfaces. The charts are supplied by TradingView, and all the features that are loaded with it: technical analysis, economic/holiday calendars, and more.

When it comes to banking methods, Raceoption is hard-to-beat:

  • Visa
  • Bitcoin and altcoins
  • Perfect Money
  • Wire transfer
  • Qiwi
  • WebMoney
  • Neteller
  • Money
  • Skrill

Pay attention that credit card payouts come with a 5% commission and those by international wire transfers – $50.

Raceoption - site

As an offshore brokerage supporting both Forex and binary options trading, Raceoption may not be suggested as the first line dealer. Although it does offer a broad array of trading assets including crypto and provides a simple, yet comprehensive, trading platform, the operator is still weak in reliability which stems from solid compliance with authoritative financial regulators.

2 Comments

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Eric

10/06/2019 Reply

As good as any other broker. I don’t see where all the negative comes from when it comes to this broker. I have been trading here for 3 months and everything suits me. I have already got back the initial deposit and withdrew it with a profit.

Cameron

30/05/2019 Reply

They treat me as a client pretty well, customer care is also up to par. I witness solid price improvements for my stop orders during the latest news causing crazy volatility. Slippage is rare negative here. I wish leverage were more attractive for all the traders, not only professionals with heavy accounts.

Raceoption Broker

Raceoption - logo
Bonus

20-50%

Min. deposit

250$

Regulators

VFSC

Platforms

Web platform