English

RACE FX OPTIONS foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://racefxoptions.com/en/register.php, about the company's legal and temporary regulatory information, the company's address .

RACE FX OPTIONS Forex Broker

Basic Information

Registered Region

United Kingdom

Operating Period

Company Name

RaceFX Projects Ltd

Abbreviation

RACE FX OPTIONS

Company employee

Customer Service Email Address

info@racefxoptions.com

Contact Number

+19083673840

Company Website

https://racefxoptions.com/

Instagram

https://www.instagram.com/Racefxoptions

Keywords

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Company profile

GENERAL INFORMATION Raceoption is a Forex and binary broker providing financial services internationally. Raceoption clients have access to a referral program and bonuses; the broker also regularly conducts trading competitions among all traders. The broker RaceOptions belongs to the Race Projects LTD. RaceOption is part of the Finance Group Corp (FGC) and Suomen Kerren, LP. Both are registered in Vanuatu, though RaceOption itself is based in London. While these companies don't offer quite the same level of protection as regulatory bodies like FCA or CySEC, there haven't been many problems with them or RaceOption. That also means you can trade more currency types if you decide to try forex trading. The biggest problem with the lack of regulation is how unclear certain policies become. While RaceOption supports US traders, regulatory bodies in the US don't support RaceOption. Fewer regulations can also create a less reputable company, although, in RaceOption's case, many traders have had positive experiences. ACCOUNT AND LEVERAGE Trading conditions are the same for all traders, regardless of the selected account type. Raceoption has three accounts, plus a demo account. Trading is carried out on a web platform, so there is no need to install software on your computer. There is no commission for using the terminal or maintaining the account. Bronze On this account, traders have access to round-the-clock video chat support, a service for copying transactions, and opening a demo account. Withdrawals are made within 1 hour. The first deposit bonus is 20%. Silver With a minimum initial deposit of $250, you get access to standard features and it requires a much higher initial deposit of $1,000, but you get almost twice the features you'll see with a Bronze account. The owners of this account have access to round-the-clock support, a copy service, a demo account, as well as three risk-free transactions, and a master class. You can withdraw funds from your account within an hour, and the bonus to the first deposit will be 50%. Gold Along with your minimum $3,000 deposit, you'll get the maximum number of features and perks. Clients who have opened such an account have access to round-the-clock support, a service for copying transactions, a demo account, a master class, and and 3 transactions without risk. The trader also gets a personal manager. It will take up to 1 hour to withdraw funds, the bonus to the first deposit will be 100% of the amount deposited into the account. The broker also provides its clients with the opportunity to open a free demo account to test their trading skills and test new trading strategies. To open a demo account, you need to create a real account, make a deposit and contact the companys employees to apply for a virtual account. Also a resident of any country can open an account with Raceoption, regardless of whether he or she has experience in trading binary options, Forex assets, stocks, or other instruments. All their trading instruments are available regardless of the type of account. The minimum deposit for all accounts is €/$250, and the leverage reaches 1:500. The broker charges a commission of 0.07% of the position value for transferring a trading position to the next day (swap). TRADING INSTRUMENTS RaceOption has an impressive number of assets—over 150. The incredible variety has the potential to appeal to investors from all over the world, which helps RaceOption cater to more demographics. You have your pick between: currency pairs, stocks, cryptocurrencies, indices, commodities, and metals. TRADING PLATFORM The platform has a familiar feel. There is nothing to make it stand out from rivals. Regardless, it supports binary options trading as well as simple forex and CFDs in a manner suitable for newbies as well as more experienced traders. The platform is very simple to use and is not cluttered with a lot of the frills and add-ons others use to dazzle traders. To the left is the asset listings, in the middle is the chart/screen for trading and to the right is the order area. Simply pick call or put, enter the trade amount, pick the expiry and hit enter. Easy peasy. RaceOption uses a platform similar to the SpotOption platform, though they've changed it up a little. RaceOption's platform makes the trade interface even simpler by giving you access to everything you need all in the same space, without a convoluted layout. You'll see how much you've invested in the top right corner of your screen. Right below it, you can add to that amount, see how much time you have left in your timed trade, and as you predict the market outcome, when it comes time to invest, you can't miss the bright call and put buttons near the bottom. DEPOSIT AND WITHDRAWAL METHOD Deposits are super 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 nearly instantly except in the case of wires which may take up to a week to process. The minimum withdrawal is only $50 and has no fees. The requests are processed within an hour and paid out as quickly as each method allows. Ewallets (Skrill, Neteller etc) and cryptocurrency are the fastest methods and may be returned to your account same day. CUSTOMER SERVICE One good thing with this broker is that, they are available 24/7 and have Phone, Chat, Email, also Video Support. They also arrange FAQ and tutorials and are Available in different languages.

RACE FX OPTIONS broker review

Is RACE FX OPTIONS safe or scam

Rating Index

Race FX Options Forex Broker - Complete Information Guide

1. Broker Overview

　　Race FX Options, established in 2022, is a relatively new entrant in the forex brokerage industry. The company is headquartered in China and operates under the name Race Projects Ltd.. As a private entity, Race FX Options primarily serves a global market, offering trading services to clients from various regions.

　　Despite its recent establishment, the broker has been making strides in the online trading space. Initially focusing on forex trading, Race FX Options has expanded its offerings to include various financial instruments such as Contracts for Difference (CFDs), commodities, and indices. The company aims to cater to a diverse clientele, ranging from novice traders to more experienced investors, providing them with a platform to trade multiple asset classes.

　　Race FX Options operates on a model that emphasizes retail forex trading, allowing individual traders to access the forex markets with relatively low capital requirements. However, it is important to note that the broker is currently unregulated, which raises concerns regarding its operational legitimacy and investor protection measures.

2. Regulatory and Compliance Information

　　One of the most significant concerns surrounding Race FX Options is its lack of regulation. The broker has not provided any valid regulatory information, which is critical for ensuring client safety and adherence to financial standards. According to various sources, including WikiFX and PediaFX, the broker does not appear to be licensed by any recognized regulatory authority, which significantly increases the risk for potential investors.

　　The absence of regulatory oversight means that there are no established guidelines or protections for clients. This lack of regulation extends to:

Client Fund Segregation: There is no clear policy indicating how client funds are segregated from the broker's operating capital.
Investor Compensation Fund Participation: The broker does not participate in any investor compensation schemes, which typically provide a safety net for clients in cases of broker insolvency.
KYC and AML Compliance: The broker has not disclosed specific measures regarding its Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, which are essential for maintaining the integrity of financial transactions.

　　Given these factors, potential clients are advised to exercise extreme caution when considering trading with Race FX Options, as the lack of regulatory framework poses substantial risks.

3. Trading Products and Services

　　Race FX Options offers a variety of trading products aimed at diversifying its clients' investment opportunities. The broker provides access to:

Forex Currency Pairs: A selection of major, minor, and exotic currency pairs, although the exact number of pairs available is not specified in the current information.
CFD Products: Clients can trade CFDs on various underlying assets, including:
Indices: Major global indices, providing exposure to market movements.
Commodities: Including popular assets such as gold, oil, and agricultural products.
Stocks: Shares from various companies, allowing clients to invest in individual equities.
Cryptocurrencies: A range of cryptocurrencies, facilitating trading in this rapidly growing market.

　　The broker's product offerings are continually updated, although specific details about the frequency of updates or the introduction of new products were not disclosed. Race FX Options primarily focuses on retail trading services, catering to individual investors, and does not appear to offer institutional services or white-label solutions at this time.

4. Trading Platform and Technology

　　Race FX Options operates on its proprietary trading platform, which does not support the widely used MetaTrader 4 or MetaTrader 5. The platform is designed to be user-friendly, catering to both novice and experienced traders.

　　Key features of the trading platform include:

Web-Based Trading: The platform is accessible via web browsers, eliminating the need for software installation.
Mobile Application: While specific details about mobile app support for iOS and Android were not provided, the platform is expected to be compatible with mobile devices for trading on the go.
Execution Model: The broker's execution model details were not specified, leaving potential clients uncertain about whether it operates on an ECN, STP, or market-making basis.
Server Infrastructure: Information regarding the server locations and technical infrastructure is also lacking, which is crucial for ensuring fast and reliable trade execution.

　　Additionally, there is no mention of API access or support for automated trading, which could be a limitation for algorithmic traders looking for advanced trading capabilities.

5. Account Types and Trading Conditions

　　Race FX Options offers several account types designed to accommodate different trading preferences and capital levels. The details of these accounts include:

　　Standard Account:
　　Minimum Deposit: $250
　　Spreads: Competitive spreads, though specific rates are not disclosed.
　　Commission: No commission fees specified for trading.
　　Advanced Account Types:
　　Silver Account: Requires a minimum deposit of $1,000, offering additional features such as risk-free trades and a higher bonus on deposits.
　　Gold Account: Requires a minimum deposit of $3,000, providing the most comprehensive features, including personal account management and advanced trading tools.
　　Special Accounts: Details regarding Islamic accounts or corporate accounts were not provided, indicating that these options may not be available.
　　Demo Account Policy: Race FX Options allows clients to open a demo account to practice trading strategies, although specific terms for the demo account were not detailed.
　　Leverage: The broker offers leverage up to 1:500, though the exact leverage available may vary by account type and asset class.
　　Minimum Trade Size: The minimum trade size specifics were not disclosed, which is an important detail for traders managing their risk.
　　Overnight Fees: Information regarding overnight fees or swap rates is not provided, making it difficult for traders to assess potential costs associated with holding positions overnight.

6. Fund Management

　　Race FX Options supports a variety of deposit methods, allowing clients to fund their accounts conveniently. The accepted methods include:

Bank Transfers: Traditional bank transfers, which may take longer to process.
Credit Cards: Allowing for quick deposits.
E-Wallets: Including popular options such as Skrill and Neteller.
Cryptocurrency: Supporting deposits in various digital currencies.

Minimum Deposit Requirements

Standard Account: $250
Silver Account: $1,000
Gold Account: $3,000

Deposit Processing Times

Deposits are generally processed quickly, with most methods being instant, except for bank transfers that may take longer.

Deposit Fees

No specific deposit fees are mentioned, which is a positive aspect for potential clients.

Withdrawal Methods and Restrictions

Withdrawals can be made through similar methods as deposits, although specific restrictions or limitations were not detailed.

Withdrawal Processing Times

The broker claims to process withdrawal requests within one hour, which is a competitive feature in the industry.

Withdrawal Fee Structure

There is no mention of withdrawal fees, potentially making the broker more appealing for traders looking to minimize costs.

7. Customer Support and Educational Resources

　　Race FX Options provides customer support through various channels, ensuring that clients can receive assistance when needed. The available support channels include:

Phone Support: Clients can reach out via telephone for immediate assistance.
Email Support: An email address is provided for less urgent inquiries.
Online Chat: Real-time chat support is likely available on the broker's website.
Social Media: The broker may also engage clients through social media platforms.

Service Hours and Time Zone Coverage

　　The customer support team is available 24/7, allowing clients from different time zones to receive assistance at their convenience.

Multilingual Support

　　The broker offers support in multiple languages, although specific languages were not disclosed.

Educational Resources

　　Race FX Options provides a limited range of educational resources, which may include:

Webinars: Online seminars to educate traders on various topics.
Tutorials: Guides to help clients navigate the trading platform and understand trading concepts.
E-books: Informational materials available for traders seeking to enhance their knowledge.

Market Analysis Services

　　The broker may offer daily market analysis, news updates, and research reports to keep traders informed about market movements and trends.

Trading Tools

　　While specific trading tools such as calculators and signal services were not mentioned, the broker is expected to provide essential tools to assist clients in their trading activities.

8. Regional Coverage and Restrictions

　　Race FX Options aims to serve a global market, providing services to clients in various regions. However, specific details regarding regional offices or the distribution of services were not disclosed.

Major Service Markets

　　The broker primarily targets clients in regions where online trading is popular, although specific markets were not identified.

Countries Not Accepted

　　The information regarding countries or regions where clients are not accepted is not provided, which could be a concern for potential international clients.

Special Restrictions

　　There were no specific restrictions mentioned, but the general lack of regulation may imply that the broker is not compliant with certain jurisdictions' trading laws.

　　In conclusion, while Race FX Options offers a range of trading products and services, potential clients should approach this broker with caution due to its unregulated status and lack of transparency in many operational aspects.

RACE FX OPTIONS Similar Brokers

Mic

Best brokers