Raceoption is a newer broker registered and based in Seychelles. The company is Race Projects Ltd. (registration number 114612), which has its registered office at 306 Premier Building, Albert Street, Victoria, Mahe, Seychelles, and operates on behalf of FGC, which operates on behalf of FGC. This broker is not subject to CySEC or FCA regulation.
Important facts:
$250 minimum deposit
Payout: 85%
Demo: yes
Regulation: Seychelles
Bonus: 100% deposit match bonus on first deposit
Trading platform
The platform feels familiar. There’s nothing to set it apart from its competitors. Nonetheless, it supports binary options trading as well as simple forex and CFDs in a way suitable for beginners as well as experienced traders.
Binary options come in three types. Turbo, short and long term. The turbo option is where you’ll find ultra-shorts of 30, 60, and 120 seconds. Short or daily is the expiry date of that trading session, long term is the expiry date tomorrow, next week, next week, end of month, etc.
Demo account
The demo account is only available after the deposit has been made. This is a figure that means traders “can’t try before buying”. Hopefully this brand will allow deposit free demo accounts in the future.
Cryptocurrency pairs
The list of assets is extensive, but like many with similar listings, only a handful can actually be seen. They have assets in all four categories including forex, commodities, stocks and indices. The forex listing also includes simple cryptocurrency pairs, although the CFD portion of the platform favors a wider range of crypto trading.
The platform is very simple to use and does not have a hard time dazzling traders due to its large number of trades and additional features. On the left is the asset list, in the middle is the trading chart/screen and on the right is the order area. Simply place or place a call, enter the trade amount, select an expiry date and press enter. easy.
There are several additional tools for traders, including rollover and sell now features. This allows traders to add time to existing trades (at an additional cost) or sell out for profit and loss calculations. The only downside is how simple the platform is. These charts are not what I would call advanced and do not provide the tools and indicators that serious traders need. Of course, it doesn’t matter as most binary traders use other charting software like MT4.
deposits and withdrawals
Deposits are very easy and can be made via credit card, wire transfer, e-wallet or cryptocurrency. The site supports payments in BTC, ETH, LTC and other commonly traded tokens. Deposits are almost instant, except for wires which can take up to a week to process.
The minimum withdrawal is $50 and there are no fees. Requests are processed within an hour and payments are made as quickly as each method allows. Ewallets (Skrill, Neteller, etc.) and cryptocurrencies are the fastest way and can be returned to your account the same day.
Important turnover terms
The downside here is that there are turnover requirements for accounts with and without bonuses. Accounts that do not receive bonuses must trade 100% of their deposited amount before making withdrawals, while accounts with bonuses must reach 300% of their deposited amount to withdraw their funds and profit.
