Raceoption Review

Raceoption Ratings at a Glance

Raceoption is a general online investing option available to traders outside of the United States. The broker offers its own proprietary platform, which is compatible with desktop and mobile interfaces. You can use Raceoption’s platform to trade a variety of assets without worrying about specific app and device compatibility issues.

Raceoption caters to frequent investors looking for an all-in-one place to casually buy and sell common assets, including the following.

• Currencies: Raceoption allows you to trade between more than 25 individual currency pairs, including USD, EUR, GBP and JPY. Users can also trade currency futures through the platform for some of the most traded currencies.
• Digital assets: Raceoption offers cryptocurrency trading. However, crypto investing is currently limited to the Bitcoin/USD and Bitcoin/CNY pairs. This factor can make Raceoption a less appealing choice if you’re looking for a wide selection of digital currencies to add to your portfolio.
• Stocks: Raceoption’s platform currency supports trading on more than 50 stocks. Stocks offered include a blend of major New York Stock Exchange and Nasdaq exchange picks (like eBay, Tesla, Johnson & Johnson) to international stocks traded on exchanges like the London Stock Exchange and the Moscow Exchange. Examples of international stocks you can buy and sell through Raceoption include Sberbank Rossii and Gazprom.
• Indexes: A stock market index is a tradeable asset that represents the overall movement of the underlying market it tracks. Raceoption allows you to trade more than 30 unique indexes, including some tracking the Dow Jones, S&P 500, Russell 2000 and Shanghai Composite.
• Precious metals: Raceoption provides you with precious metals commodity trading, including silver, platinum and gold. You can also trade gold futures and the gold/EUR pair through the platform.
• Additional commodities: You can trade product commodities like coffee, sugar and sweet crude oil through Raceoption alongside precious metals.

While some CFD brokers require their customers to download a third-party trading platform before opening an account, Raceoption’s easy-to-master trading center can be used in your browser. You can use a variety of methods to fund your account, including direct bank transfer, Ethereum, Bitcoin and major credit cards.

Raceoption’s platform is compatible with most types of devices and doesn’t require you to download a new app.

If you’re a new trader, you may be able to take advantage of Raceoption’s copy trading feature. Copy trading allows you to follow and copy the orders of more experienced investors. View a list of popular investors and their recent profit records before selecting a user with an investment strategy that complements the one you’d like to build.

After enabling copy trading and setting a budget, your Raceoption account will automate trading according to the movements of the underlying user. This feature helps investors who do not yet have a trading strategy learn more about the market with guided assistance. Trading through Raceoption is also available 24/7 with around-the-clock customer service options, which can be an appealing feature for frequent travelers.

Overall, Raceoption provides users with a convenient and affordable place to trade a wide selection of popular investments. While the broker offers a universally compatible platform and plenty of features that make it easy to use for beginners and experienced traders alike, it is not a replacement for a retirement account. If you don’t yet have an investing account, you may want to begin with a platform that offers more conservative assets.

If you do decide to open an account with Raceoption, you should do so in addition to another long-term investment brokerage account (like an IRA or 401(k) account). Never invest more money than you can afford to lose, especially in volatile assets like cryptocurrencies, options trading and futures contracts.  

Another important note to make: Raceoption does not serve any customers in the United States and is not regulated by any U.S.-recognized financial oversight board. As it is based in the Marshall Islands, accounts on Raceoption may not be subject to local finance laws and restrictions. Keep this in mind when deciding where to open your first brokerage account. 

Raceoption provides you with a variety of around-the-clock customer service options that you can use to get in touch with its team — no matter where in the globe you’re located.  Some options you can use to contact Raceoption include:

• Phone: Raceoption provides a selection of customer service phone lines depending on your location. Browse the company’s five options here and dial your nearest branch.
• Message: To connect with Raceoption over email, submit a contact request form with your inquiry here. A representative will respond to you over email.
• Live chat: Live chat is also available 24 hours a day and 7 days a week. To access live chat, visit Raceoption online and select the chat icon. Sign into your account to access private customer service chat functions.

Customer service is available in multiple languages, including English, Spanish, Thai and more. This feature can be beneficial for international travelers and investors whose first language is not English. 

Raceoption provides you with a number of features and securities that protect your account, including SSL (Secure Socket Layer) technology and 256-bit secure processing. This level of encryption is some of the highest available for practical application and is the same level of security used by major banks.

While Raceoption has instituted layers of security to protect your account from hackers, it is not registered with any U.S.-based financial oversight board. This means that Raceoption cannot provide services to customers living in the United States.  

Raceoption’s minimum account balance is currently $250, and the company does not charge trading commission fees on trades placed through the platform. This low minimum initial deposit and affordable trading schedule can make Raceoption a stronger choice for new investors looking to trade casually.

Raceoption’s minimum trade size is also exceptionally affordable at $1. You can place orders with values as low as a single dollar, which can be even more beneficial for casual investors who may not have a lot to deposit. 

Raceoption’s user experience is straightforward and functional. While the proprietary platform does not require an app download, it still provides a convenient way to trade binary options and other short-term assets. Some of the most unique benefits of Raceoption’s platform include the following.

• Variety of tradable assets: Raceoption allows you to trade binary options and CFDs for a wide selection of financial instruments, ranging from cryptocurrencies to commodities. This feature can be useful for investors who use short-term trading strategies and who want access to a singular trading platform.
• Quick signups and access: Raceoption provides you with a quick and streamlined sign-up process. Enter a bit of personal information, link your funding and get started exploring Raceoption’s platform and making your first trades. A customer service representative can assist you in opening your account in real time if you need.

In addition to fast signups, Raceoption also provides you with fast access to your funds when you need to withdraw your money. The company’s website says that it guarantees that withdrawals will be processed within 1 hour of your initial request. This feature can be beneficial for casual short-term traders who may want to take profits more often and frequently.

• No maintenance fees: Raceoption does not charge any type of monthly or annual account maintenance fee. This feature can be beneficial for lower-value account holders who might run into low balance fees with other brokers and trading platforms.

Keep in mind that Raceoption does not withhold any taxes from profits that you earn through your account. It is your responsibility as a customer to retain your financial information and pay local taxes according to your location. In the future, Raceoption could offer individualized accounts varying by region to take local tax documentation considerations into account. 

Raceoption vs. Competitors

While Raceoption provides a unique way to explore options and CFD trading, it may not be the best platform for everyone. For example, if you live in the United States, you cannot open an account with Raceoption because the company is not authorized to provide international accounts to United States residents. Some alternatives to consider if you are in the US include eToro, Robinhood and Coinbase (for crypto traders).  

Overall, Raceoption provides an easy-to-use platform for international customers to trade CFDs quickly and with fewer withdrawal delays. While Raceoption accounts should only be used for casual investing purposes, its 24/7 customer service and around-the-clock trading capabilities can be appealing to international investors. Traders who rely on short-term price movements will appreciate the wealth of financial instruments they’ll have access to, which includes cryptocurrencies, commodities and futures.

Raceoption provides bonuses with new signups, which vary depending on the amount of money that you deposit when you open your account. The platform also offers demo trading capabilities and copy trading functionalities that allow you to mimic other traders, which can make Raceoption a valuable choice if you’re a beginner looking to learn how to trade. While not suitable for every type of investor, Raceoption might be worth considering if you’re looking to enter the options trading sphere. 

Frequently Asked Questions