Raceoption is a new broker registered and headquartered in Seychelles. They are operated by Race Projects Ltd., registration number 114612, having its registered office at 306 Premier Building, Albert Street, Victoria, Mahe, Seychelles, which operates on behalf of FGC, a company holding the umbrella financial services umbrella in that jurisdiction. This broker is not regulated by CySEC or the FCA.
Key facts:
Minimum Deposit $250
Payout: 85%
Demo: Yes
Regulated:
Seychelles Bonus : 100% Deposit match bonus on any first deposit
Trading Platform
The platform has a familiar feel. Nothing to stand out from its competitors. Regardless, it supports binary options trading as well as simple forex and CFDs in a way that is suitable for beginners as well as more experienced traders.
Binary options come in 3 types; turbo, short term and long term. The turbo option is where you’ll find the short 30, 60 and 120 expeditions. Short-term or intraday is the expiration for the trading session and long-term is the expiration for tomorrow, then in the week, next week, the end of the month and so on.
Demo Account
A demo account is only available after a deposit has been made. This is a shame as it means traders cannot “try before they buy”. Hopefully the brand will make demo accounts available with no deposit in the future.
Cryptocurrency pairs
The list of assets is extensive but like so many with similar listings only a few you see are actually tradable. They have assets in all 4 categories though, which are good, including forex, commodities, stocks and indices. The forex listing also includes some simple cryptocurrency pairs although the CFD section of the platform is what you want for broader crypto trading.
The platform is very easy to use and not cluttered with many additional services and other uses to grab traders. To the left is the asset listing, in the middle is the chart / screen for trading and to the right is the order area. Just select call or put, enter trade amount, select expiration and press enter. Love the nuts.
There are several additional tools for traders including the rollover and sell feature now. This allows the trader to add time to an existing trade (for an additional fee) or to sell to lock in profits / cut losses. The only downside is how simple the platform is. The chart is not what I would call advanced and does not come with the tools and indicators a serious trader needs. Of course, that doesn’t matter because most binary traders use other charting software like MT4.
Deposits And Withdrawals
Deposits are very easy and can be made by credit card, wire transfer, eWallet or even cryptocurrency. The site supports payments in BTC, ETH, LTC and other commonly traded tokens. Deposits are available almost instantly except in the case of cables which may take a week to process.
The minimum withdrawal is only $50 and there are no fees. Requests are processed within one hour and paid as soon as each method allows. Ewallets (Skrill, Neteller etc) and cryptocurrency are the fastest methods and can be returned to your account on the same day.
Important Modification Terms
The downside here is that there is a turnover requirement for accounts with and without bonuses. Accounts that do not take bonuses must trade an amount equal to 100% of the deposit before making a withdrawal, those with bonuses need to achieve a turnover of 300% of the deposit amount to withdraw funds and profit.