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.
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.
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);
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.
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:
- 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:
- QIWI Wallet;
- OK Pay;
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).
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.
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.