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 more than 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 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 has been able to use the market demand to tailor their platform to give traders what they want. These benefits include the technological features of the site, the bonuses and payouts on offer and the unique features offered such as Paypal and 1 hour withdrawals.
In this review, you will learn:
- What this trading platform has to offer you
- How they’ve used a delayed entry to an advantage
- The bonuses and payout methods Raceoption has
🌟 Account Types
Quite simply the account types offered by Raceoption are a combination of the most demanded services by traders. Rather than providing 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.
✳ Bronze Account
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 an ideal 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.
✳ Silver Account
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.
✳ Gold Account
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 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.
✳ High/Low Options
Perhaps the most popular choice of options the High/Low option is also known as the Call/Put options and is simple to execute. Just 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 seize the moment.
✳ Ladder/Pair Options
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 achieving 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 placed over a short period 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 week or so. Long Term options do require patience, as the results take longer to show.
🌟 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 the 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 gift when you open a Raceoption account. The broker also operates a weekly free contest with a prize fund of $20,000.
🌟 Mobile Trading
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 indeed apparent when it comes to their online trading platform which not only caters for desktop users but also has an intuitive, mobile-friendly trading option.
As well as a fully responsive mobile site there is also an app available on the Apple App Store or 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 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 the time of writing the minimum, a trader can deposit $250. Charges for these services need to be considered and whether you will pay per transaction or a percentage of the transactions made.
🌟 Special Features
Raceoption have many unique features we could probably dedicate most of this review to their unique characteristics, which can be credited to their recent launch. While 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 has 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 the 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 unique feature is 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?
🌟 Customer Support
It is evident from the outset that Raceoption offers a good level of customer support contact whether on the desktop site or 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.
Here are the contact details for Raceoption:
- Email – [email protected]
- Phone – +44 208 068 5335
- Address – Finance Group Corp, 2nd Floor, Transpacific Haus, Lini Highway, Vanuatu
We’re going to complete our Raceoption review here. As always we scour the web for complaints and reports of a rip off scams. We also test the brokerages to see things for ourselves. During our dynamic 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-around offering to traders is making them a serious competitor in the binary options market place. From the ease of access to 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.