Binary Options Broker RaceOption

RaceOption – A Brief Review of the Scam Binary Options Broker The fraudulent broker RaceOption entered the binary options market in 2020. The scammers' website claims the company is registered in the Marshall Islands, but in reality, this registration has long been revoked. The service description claims the ability to trade classic high/low options on currency pairs, commodities, stocks, and cryptocurrency. RaceOption Reviews

At first glance, the binary options broker RaceOption appears to be a reputable company. Its official website has a modern, professional design, lists its registration in the popular offshore zone of the Marshall Islands, and offers a wide range of deposit and withdrawal methods. The platform appears functional and modern, supports binary options trading using artificial intelligence signals, and is supplied with market data by the reputable agency Thomson Reuters.

But is everything really as perfect as it seems at first glance, or are there some unpleasant truths hidden behind this respectable veneer? Let's find out in this review.

Content:

• Key Features of a Binary Options Broker
• General information about the broker
  • Domain registration
  • Licensing and Regulation
  • Social media promotion
  • Trading conditions
• Register with the RaceOption broker
• Verification of personal data
• Minimum deposit on the RaceOption platform
  • Depositing funds to a broker account and withdrawing funds from the site
• Account types
• Trading platforms
• Competitions and bonuses
• Educational programs
• Customer support service work
• RaceOption user reviews
• Pros and cons of a broker
• Conclusion: Is RaceOption Worth Trading?

Key Features of a Binary Options Broker

General Information About the Broker

RaceOption is another dubious binary options broker that attracts clients with a flashy website and promises of incredibly high payouts. In its advertising, the company claims to be willing to pay up to 98% on classic high/low options, offers deposit bonuses of up to 100%, and offers other "favorable" trading conditions. Clients can choose from four account types: Bronze, Silver, Gold, and VIP. These vary in minimum deposit amounts, level of personal support, and, according to the broker, the availability of "funds protection" in a European bank.

Domain Registration

The history of the RaceOption scam broker's domain is quite remarkable and demonstrates its owners' creative approach to their fraudulent business. The company's main domain, RaceOption.com, was registered in September 2017, and its first website appeared in November. This moment can be considered the beginning of this organization's active operations.

Alongside the main website, a mirror site was launched in October 2022 at raceoption.io. It operated until January 2023, after which the domain was used to redirect visitors to the main site until its registration expired. Today, an online casino operates at this address.

Licensing and Regulation

From its earliest days, the RaceOption broker operated illegally, without any licenses, using the name Race Projects Ltd, supposedly registered in the Seychelles under number 114612. However, no official documents confirming this registration were found.

In January 2020, RaceOption was acquired by Makerun Corp., a company registered in the Marshall Islands under number 104038. We verified its status at the time of writing and found that the registration had been revoked back in February 2022. The reasons for this were not officially disclosed, but the conclusions are clear.

At the time of writing, the so-called binary options broker RaceOption lacked both a license and valid registration documents. In fact, this company exists only in the virtual world.

Social Media Promotion

The scam broker RaceOption has an official Instagram profile with 41,000 followers (probably fake),

and an empty account on social network X.

There are no other social networks or we don’t know anything about them.

Trading Conditions

As we've already noted, the scam broker RaceOption likes to take a creative approach—this is especially evident in its trading conditions. In addition to standard assets (currencies, stocks, cryptocurrencies, and commodities), the terminal offers so-called pools. In these, traders divide into teams and bet on the rise or fall of currencies, cryptocurrencies, or even fictitious assets like TRUMP vs. MUSK. The team that correctly predicts the direction wins, taking the losers' bets.

This trading mode is available only on real accounts.

Register With the RaceOption Broker

Registration with the scammer RaceOption follows the standard procedure, just like with legitimate binary options brokers : fill out a form and gain access to the trading platform.

You can view trading statistics, copy successful traders, participate in weekly contests, and much more. However, think carefully before sharing your personal information with these scammers.

Verification of Personal Data

According to the pseudo-broker RaceOption, full access to all platform features requires personal data verification. This is supposed to increase account security and open access to Market offers.

It's easy to see how "safe" an account with a company that legally doesn't exist can be. The verification process, shown in the image below, looks like this: first, you'll be asked to provide your first name, last name, and phone number, then select an identity document from the list, upload it, and take a selfie with it. We warn you again about the risks of sharing such information on these scammers' websites.

Minimum Deposit on the RaceOption Platform

To start trading on the RaceOption platform, you need to deposit at least $250—a considerable sum, you'll agree. For comparison, the binary options broker Pocket Option has a minimum deposit of just $5, while Quotex has a minimum deposit of $10. The difference is clear. If you're looking for other options to start trading with small deposits, we recommend checking out our rating of binary options brokers with minimum deposits.

Depositing Funds to a Broker Account and Withdrawing Funds From the Site

Funding your account with the scam broker RaceOption is easy—that's the whole point of its existence. Users can use VISA (with a 5% commission on the transaction amount), Mastercard, and American Express, PayPal, Apple Pay, Google Pay, 64 cryptocurrencies, and the exchange services Changelly and Paybis. Available funding methods may vary depending on your country of residence and your account level on this fraudulent platform.

Account Types

RaceOption offers clients five account types: Bronze, Silver, Gold, VIP for live trading, and a demo account for learning.

Trading Platforms

For trading, RaceOption offers a standard Android mobile app and a web terminal with advanced functionality, allowing for comprehensive technical analysis. In Candlestick chart mode, traders have access to eight technical indicators and eleven graphical analysis tools. TradingView mode loads the chart of this popular platform and a whopping 103 indicators—more than enough for any analysis.

The terminal also features an AI-powered trading mode, but we don't recommend using it. If you're interested in AI-powered trading, we recommend checking out a similar feature from the broker Pocket Option—we covered it in detail in the article " How Much Can You Earn with Pocket Option's AI Trading? Testing It in Real Money ."

Competitions and Bonuses

Like many similar projects, the scam broker RaceOption holds weekly contests for traders. Essentially, this is just a marketing tool designed to promote this fraudulent platform.

According to the scammers, they allegedly raffle off $20,000 among clients every week. The top three winners are said to receive between $5,000 and $2,000, while the remaining participants receive bonuses and "gifts."

In addition to the trading contest, RaceOption scammers are trying to attract new victims with promises of valuable prizes – but only after you top up your account.

Educational Programs

RaceOption offers no training materials, which clearly demonstrates a lack of interest in their clients' success. By comparison, leading brokers like Pocket Option and Quotex publish educational content on blogs, YouTube, and Telegram, helping traders develop and trade more successfully. On our website, you can also take a comprehensive binary options trading course and find the optimal strategy .

Customer Support Service Work

RaceOption's customer support operates exclusively through anonymous chats on the website and in the trading terminal, which is expected for such a pseudo-broker.

RaceOption User Reviews

Reviews from real clients of this scam project speak for themselves. Here are just a few.

Pros and Cons of a Broker

It's difficult to find any positive aspects to this fraudulent project. And the few positives are more related to the trading platform than the company itself.

Conclusion: Is RaceOption Worth Trading?

RaceOption is not a legitimate binary options broker, but a typical scam created by fraudsters to steal money from gullible users. Behind the attractive veneer lie entities operating without proper oversight, putting client funds at serious risk.

Reviews on independent resources are unanimous: the so-called "broker" RaceOption doesn't pay out profits and, apparently, has no intention of doing so. We strongly recommend not opening an account with these scammers. Instead, choose reputable companies from our rating of reliable binary options brokers.

Choose a reliable broker

See Also:

• Best Binary Options Broker
• Live chart for binary options
• How to make money on binary options
• What to do if your broker won't withdraw your funds