Aspect Information Company Name Race Option Registered Country/Area United States Years 5-10 years Regulation Unregulated Market Instruments Regular options and CFD trading Trading Platforms Race Option official platform Demo Account Yes Customer Support Ticket and Phone: +18299476393, +442080685335, 3-395-0396, 081-855-7055, and +7-499-7033774 Deposit & Withdrawal Credit cards (VISA/MasterCard), Bank wire transfer, Bitcoin, Ethereum, Litecoin, Altcoins, Neteller, Skrill, and Perfect Money Overview of Race Option Race Option is a trading company based in the United States, operating for approximately 5-10 years. As an unregulated entity, it offers regular options and CFD trading across various market instruments. Traders can access the Race Option official platform, which provides a user-friendly interface for executing trades. Additionally, the company offers a demo account for traders to practice and refine their strategies risk-free. Customer support is available through ticket submissions and phone assistance, with multiple contact numbers provided for convenience. Race Option supports a wide range of deposit and withdrawal methods, including credit cards (VISA/MasterCard), bank wire transfers, cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Altcoins, as well as e-wallet services like Neteller, Skrill, and Perfect Money. Regulatory Status Race Option operates as an unregulated trading platform. One drawback of using a financial broker is the potential for conflicts of interest. Brokers may receive commissions or incentives for promoting certain financial products or services, which could lead to biased recommendations that may not necessarily be in the client's best interest. Pros and Cons Pros Cons Fast Withdrawals Unregulated Status Various Deposit and Withdrawal Options Limited Market Instruments Continuous Trading Risk of Conflict of Interest 24/7 Multilingual Customer Support Lack of Transparency High Transaction Capacity Lack of investor protection measures Pros: Fast Withdrawals: Withdrawal requests are processed within just 1 hour, ensuring quick access to funds. Various Deposit and Withdrawal Options: Traders can choose from a wide range of deposit and withdrawal methods, making transactions convenient and flexible. Continuous Trading: Trading is available 24/7, even on weekends, allowing traders to capitalize on market opportunities at any time. 24/7 Multilingual Customer Support: Customer support is available round-the-clock in multiple languages, ensuring assistance is always accessible. High Transaction Capacity: With over 10,000 transactions processed daily, Race Option demonstrates reliability and efficiency in handling trades. Cons: Unregulated Status: Race Option operates as an unregulated trading platform, which means it may lack oversight from financial regulatory authorities. Limited Market Instruments: While Race Option provides regular options and CFD trading, its range of market instruments may be limited compared to other platforms. Traders seeking access to a broader range of financial products may find Race Option's offerings insufficient for their needs. Risk of Conflict of Interest: As an unregulated broker, Race Option may face conflicts of interest, particularly if it earns commissions or incentives from certain trades or activities. This could potentially lead to biased recommendations or actions that prioritize the broker's interests over those of the client. Lack of Transparency: Due to its unregulated status, Race Option may not be as transparent as regulated brokers in terms of fee structures, terms and conditions, or dispute resolution processes. Traders may encounter difficulties in obtaining clear and comprehensive information about the platform's operations and policies. Lack of investor protection measures: Traders may not benefit from safeguards such as insurance on client funds or participation in compensation schemes designed to reimburse clients in case of broker insolvency. Market Instruments Race Option offers two main market instruments for trading: Regular options and CFDs (Contract for Difference). Here's an introduction to these features: Regular Options: Regular options, also known as vanilla options, are financial contracts that give traders the right, but not the obligation, to buy or sell an underlying asset at a predetermined price (strike price) within a specified time frame (expiration date). Traders can choose between “call” options, which allow them to buy the underlying asset at the strike price, or “put” options, which allow them to sell the underlying asset at the strike price. Regular options provide traders with the opportunity to profit from price movements in various financial markets, including stocks, commodities, currencies, and indices, without needing to own the underlying asset. CFD Trading: CFDs, or Contracts for Difference, are derivative products that enable traders to speculate on the price movements of underlying assets without owning the assets themselves. When trading CFDs, traders enter into a contract with a broker to exchange the difference in the price of the underlying asset between the opening and closing of the trade. CFDs allow traders to profit from both rising and falling markets, as they can take long (buy) or short (sell) positions based on their market outlook. CFD trading offers several advantages, including leverage, which allows traders to amplify their trading positions with a smaller initial investment, as well as the ability to trade a wide range of assets, including stocks, indices, commodities, currencies, and cryptocurrencies. How to Open an Account？ Opening an account with Race Option is a straightforward process that can be completed online in a matter of minutes. Here's a breakdown of the steps involved: Visit the Race Option website and click “Register.” Fill out the online application form: The form will request your personal information Be sure to have your identification documents (passport or ID card) and proof of address handy for uploading. Fund your account: Race Option offers various deposit methods, including bank transfers, credit/debit cards, and e-wallets. Choose your preferred method and follow the instructions to complete the deposit. Verify your account: Once your account is funded, you'll need to verify your identity and address. This typically involves submitting scanned copies of your ID documents and proof of address. Start trading: Once your account is verified, you're ready to explore the Race Option trading platform and start making trades. Trading Platform The trading platform offered by Race Option boasts several compelling benefits for traders. Firstly, it facilitates the instant execution of trades, ensuring timely actions in response to market fluctuations. Additionally, the platform provides live charts for every available CFD, offering traders real-time insights into asset performance and market trends. Furthermore, traders can conveniently access their complete trade history, empowering them with valuable data for analysis and strategy refinement. Notably, the platform offers smooth integration with the web-based version, allowing users to access their accounts with the same login credentials across multiple devices for added convenience and flexibility. To trade on the trading platform of Race Option, follow these steps: Assets: Begin by selecting the asset you wish to trade from the dropdown menu provided. Chart: Review the asset's chart price, which displays its real-time performance over your selected time period. Trader's Choice: Take note of the current percentage of “bulls” (buyers) and “bears” (sellers) for the chosen asset, providing insight into market sentiment. Time and Amount: Choose your preferred expiry time for the trade and enter the amount you wish to invest. Choose Direction: Decide on your trading direction. Click “BUY” if you anticipate the asset's price will rise, or “SELL” if you predict it will fall by the CFD expiration time. Payout: Upon completion of the trade, view your profit percentage relative to the amount invested. Deposit & Withdrawal Race Option offers a range of deposit and withdrawal methods to accommodate varying preferences and needs. Credit Cards (VISA/MasterCard): A convenient and widely used method allowing instant deposits with a transfer fee of 5%. Withdrawals typically take up to 1 hour while deposits are instant. It's listed as the standard method for transactions. Bank Wire Transfer: A traditional method for transferring funds directly from a bank account. While the funding time may vary depending on the bank, withdrawals usually take up to 1 hour. Bitcoin: A popular cryptocurrency known for its decentralized nature and fast transactions. Deposits are instant, with no transfer fees, and withdrawals are also typically processed within 1 hour. Ethereum: Another widely used cryptocurrency, offering instant deposits and withdrawals with no fees, making it a preferred method for many traders. Litecoin: Similar to Bitcoin and Ethereum, Litecoin offers fast and low-cost transactions, making it a viable option for both deposits and withdrawals. Altcoins: Race Option supports various alternative cryptocurrencies beyond Bitcoin and Ethereum. While offering instant transactions and no fees, withdrawal options may be limited to specific altcoins. Neteller: A popular e-wallet service allowing secure and convenient online transactions. Deposits with Neteller are instant, and withdrawals are typically processed within 1 hour. Skrill: Another well-known e-wallet service offering instant deposits and fast withdrawals, making it a preferred choice for many traders. Perfect Money: A digital payment system enabling instant transfers and withdrawals. Perfect Money transactions are typically processed promptly, ensuring efficient fund management for traders. Method Regions Covered Transfer Fee Funding Time Withdrawal Time Notes VISA/MasterCard All 5% Instant Up to 1 hour Standard method Bitcoin All No fee Instant Up to 1 hour Preferred method 1 Ethereum All No fee Instant Up to 1 hour Preferred method 2 Altcoins All No fee Instant Up to 1 hour Limited to specific cryptocurrencies Customer Support Race Option offers multiple channels for customer support, including ticket submissions and phone assistance. Here are the contact phone numbers provided: Phone Support: +18299476393 +442080685335 3-395-0396 081-855-7055 +7-499-7033774 These phone numbers allow users to directly connect with Race Option's customer support team for assistance with account-related inquiries, technical issues, or any other concerns they may have. Additionally, Race Option provides a ticket system, offering another avenue for users to submit queries or requests for support online. Conclusion In summary, Race Option has benefits like fast withdrawals, multiple deposit options, continuous trading, round-the-clock customer support, and high transaction capacity. However, there are drawbacks too, such as being unregulated, offering limited market options, potential conflicts of interest, lack of transparency, and no investor protection. FAQs Q: How quickly the funds will be added to my trading account？ A: The funds will be available for trading immediately, once we receive a confirmation from the payment system. Q: How quickly is my withdrawal request processed？ A: Race Option processes all withdrawal requests within 1 hour. However, verification may take longer if the client doesn't submit all requested documents in time. Q: Does Raceoption withhold a tax from payouts？ A: Race Option doesn't withhold any taxes. However, as a customer, you must follow the tax requirements in your jurisdiction. Q: How can I close my Race Option account？ A: Please email support@Raceoption.com to request the closing of your account. You will receive a confirmation when this request will be completed. Q: What is a binary option？ A: Binary options are a simple and potentially very profitable way to make money from short-term movements on the market. By correctly predicting whether the price of an asset will go up or down, you can get a significant income in a continuous way. A: Do I have to download any software for trading？ Q: There is no need to download something before you can start trading with Raceoption. All you need to do is sign up and add funds to your account and youll be ready to start trading.