RaceOption is a binary and CFD broker. In our review, we tried to answer the main questions about this broker. Is RaceOption regulated? How is it operating? Where is it located? To get the full picture of this broker, you should also read what clients of this broker have to say in the RaceOption review.
|Regulated by: None|
|Headquarters Country: Marshall Islands|
|Foundation year: 2017|
|Supported Platforms: web trader, mobile trader|
|Founder company: Makerun Corp.|
|Site grid: IQcent|
Regulation and Security
When it comes to RaceOption regulation, it is very simple. The broker is unregulated. The company recently changed its owner, and now the website is officially operated by Makerun Corporation, based in the Marshall Islands. The same owner runs another scam operation, IQcent. Portuguese authorities warned citizens against both of these brands and Makerun Corp. as a parent company.
When it comes to the security of the funds, the broker does not offer any information whatsoever. This is the common case with offshore brokers, and this is why you should avoid them.
When it comes to warnings, RaceOption definitely doesn’t lack some. As mentioned, Portuguese authority body CMVM warned its citizens against both RaceOption and IQcent. Afterward, Spanish CNMV, French AMF, Belgium FMSA, and Italian CONSOB issued the same warning. All of them are stating the same – RaceOption is a scam binary broker, do not trade with it.
Based on this, we can say that the RaceOption broker is far from safe or legit.
Deposit and Withdrawal Methods
The RaceOption minimum deposit is $250 for the Bronze account. The deposit can be made using debit/credit cards, Bitcoin, Ethereum, different Altcoins, and the Perfect Money system. It is unusual that the broker will not allow any wire transfers or any safe payment method such as PayPal. The deposit is instant for all the methods except the Perfect Money, where it can take up to 1h for the money to be visible in your trading account. When it comes to fees, the RaceOption broker stated that for credit/debit cards fee is 5%, but in the disclaimer, they added that the fee is not charged by them, but by the third party.
For withdrawals, the same payment methods are available. According to the website, withdrawals can take up to 1h after the confirmation of the request. But nowhere we couldn’t find the information what is the time necessary for the confirmation, or are there any fees for withdrawals.
Once again, we repeat, RaceOption broker is highly suspicious.
Conclusion about RaceOption
RaceOption is a scam binary option and CFD broker. If you get an offer from it, we strongly advise you to decline it.
The broker is operating from an offshore country, Marshall Islands, and with no regulation. This means that your money is not safe with this company. In case you get scammed by RaceOption, there is no authority that you can complain to. This is why it’s better to find a broker with tier-one regulation such as ASIC or FCA. For more reviews about this broker visit globalfraudprotection.com .