About the company:
In 2017, RaceOption was established. Makerun Corp, situated in the Marshall Islands, owns and operates it. Although it has great customer evaluations and is regarded as a respectable binary options brand, the brokerage is still unregulated.
Retail consumers can choose from over 100 CFD and binary options assets. There are more than 25 currency pairings on the forex market, as well as 50 worldwide firms’ stocks, indices, and commodities.
The company has its own trading platform. There is no need to download the software because it is offered as an online application. It’s worth noting that the platform is simple to use and has a contemporary UI. A limited selection of charts and graphs are also appropriate for various techniques, and the firm’s binary options, including Turbo Options, may be accessed in only a few clicks.
The main features of the platform include:
- 60-second trading
- Detailed trading history
- Multiple timeframes
- 30 or more technical indicators
- TradingView’s charts
- Market movement and forecasting indicators
- A built-in tool for mimicking the trades of experienced investors is included.
A free mobile app is available for the platform. Traders may get the software for Apple (iOS) and Android (APK) devices from the Google or Apple app stores, respectively.
To access the online trader terminal’s tools, features, and capabilities, simply login to the platform from your mobile device. You can see your whole trading history, look at live charts, and place trades right now.
Spreads fluctuate based on market circumstances. While the financial information on the broker’s website and platform is sparse, trader testimonials demonstrate that they are competitive in general.
A fee of 1–2.5 percent is charged when trading cryptocurrency CFDs without leverage, depending on the value of the transaction. A 5% fee is charged on cryptocurrency CFD trades with leverage.
It is completely free to create and maintain an account. A $10 account maintenance fee will be imposed if clients do not perform at least one trade during a calendar month. Positions held overnight are also subject to rollover costs. The customer is responsible for his or her own taxes.
The broker solely provides leveraged CFD trading. Rates of up to 1:30 are available on cryptocurrency positions, although it depends on the asset. For other instruments, the highest leverage available is 1:100. Always be cautious when trading with high leverage since earnings and losses can quickly compound.
Depositing to a live account is free; however, third-party fees may apply. A $250 minimum deposit is required for a bronze account. Credit/debit cards, bank transfers, e-wallets, cryptocurrencies, and altcoins are all options for payment. All of the options allow for immediate deposits pending payment network confirmation. Some deposit methods may have their own set of minimal requirements.
The withdrawal processes are the same, and there are no commissions. The broker also guarantees a one-hour withdrawal processing time following confirmation. Please keep in mind that the minimum withdrawal limit is $50, with no upper limit.
On its own platform, the firm provides a demo account. This is common practice among well-known brokers, and it allows traders to use intraday trading methods and browse the platform’s capabilities without risk. Unfortunately, you can only open a paper trading account if you fulfill the minimum deposit criteria for a real account.
Bonus promos are only available depending on where you created your account. Bonus features are available to all new account registrations. Before enrolling, please make sure you understand the regulations and the minimal policy criteria. New registrations also have three days to contact the broker’s support staff to opt-out. A $250 or £200 promo coupon was formerly available for any new accounts established. Weekly trading competitions and prize draws are among the other benefits. Depending on the initial deposit of the new client, the referral program also allows you to repay 20% of the deposit.
There is no credible financial authority that regulates the company. Makerun Corp, based in the Marshall Islands, manages the broker.
Unregulated brokers seldom provide the same degree of safety as respected organizations like the FCA or CySEC. In the event of a company failure, you will not be eligible for negative balance protection or a compensation program.
There is a dearth of instructional information and other tools on the website. There is no day trading guide or comprehensive asset information, which would be particularly useful for novices. In the future, it would also be wonderful to have some platform lessons or YouTube guides provided.
Our reviewer was thrilled to see that a copy trading platform had recently been launched, allowing users to execute trades based on current clients’ assets. Simply choose from a list of prominent traders, and the platform will mimic their positions for you. You do not need to place manual orders, and you may request a withdrawal at any moment. Alternative trading circumstances, such as doubling or fixed-time investments, are also available.
Bronze, silver, and gold accounts are available from the company. All accounts provide a full variety of binary options and CFDs and are available in four main currencies: US dollars, rubles, euros, and British pounds.
It’s simple and quick to sign up for a new live trading account. Traders should fill out an online registration form and provide identifying documents such as a passport and proof of residency. You can begin trading as soon as the details are authorized. The platform’s navigation bar also allows users to switch between demo and genuine account types.