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Rating Index
Pros
High deposit bonuses available, which can enhance trading capital.
User-friendly platform with a variety of assets for trading, including forex, stocks, and commodities.
Fast withdrawal processing, typically within an hour, providing peace of mind for traders.
Cons
Not regulated, which raises concerns about the safety and security of funds.
Reports of withdrawal issues and lack of transparency, leading to potential trust issues.
Limited availability of trading tools and indicators compared to other brokers, which may hinder trading strategies.
Race Option broker Accounts
Race Option Account Type
Race Option offers a flexible trading environment with various account types to cater to different trading preferences and experience levels. The account types available include:
- Standard Account: This is suitable for both beginners and experienced traders, providing access to a wide range of trading tools and features.
- ECN Account: Designed for professional traders, this account type offers the lowest spreads available in the market and direct market access, ideal for high-frequency trading.
- High Leverage Account: Available for traders with less than $1,000 in their account, this account allows leverage up to 1:1000, which can amplify potential returns but also increases risk.
- Islamic Account: Tailored for Islamic traders, this account type does not incur swap or rollover charges on overnight positions, complying with Sharia law.
- Research and Choose Account Type: Determine which account type suits your trading needs, whether it's a Standard, ECN, High Leverage, or Islamic account.
- Complete Application Form: Fill out the online application form with personal information, including your name, email, and phone number.
- Submit Identification and Verification Documents: Provide necessary documentation for identity verification, such as a government-issued ID and proof of residence (e.g., utility bill).
- Account Verification: The broker will review your submitted documents, which typically takes a few days. Upon approval, your account will be activated.
- Fund Your Account: Choose from multiple deposit methods (bank transfer, credit/debit card, e-wallets) to fund your account. Minimum deposit requirements may vary based on the account type.
- Start Trading: Once your account is funded, you can begin trading. It is advisable to familiarize yourself with the trading platform and consider starting with a demo account if you are new to forex trading.
Race Option Broker Account Opening Process
Opening an account with Race Option is a straightforward process that can be completed in a few simple steps:
By following these steps, you can successfully open a trading account with Race Option and start your trading journey.
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Race Option accounts can be viewed for products that can be traded accounts with a minimum deposit of by (2+) .