RaceOption is a relatively new broker that joined the highly competitive online trading sector at the end of 2017. This brokerage firm seeks to establish a competitive edge by offering a trading platform where traders can trade Binary Options, Bitcoin, and CFD’s. The broker is owned and run by Race Projects Ltd, a company based in Albert Street, Victoria, Mahe, Seychelles.
The site operates on behalf of Finance Group Corp and can be contacted via phone, email, and live chat. The firm has a welcome bonus that is given to its new customers. The bonus amount that a trader gets is determined by the amount that he or she deposits. For instance, if you deposit $250, you will be given a 20% bonus, 50% bonus for $1000 and a bonus of 100% for $3000.
The absence of a RaceOption demo account hinders you from learning about the broker prior to trusting your money with it. Below, there is a RaceOption review that has crucial information about the broker. Considering the high number of scam sites on the internet, take a look at this review before you decide to register with the broker.
Find the best trading platform. You capital is at risk when trading. Be careful.
Is RaceOption A Scam? Is RaceOption Regulated?
Online trading is fast becoming a household name. People and organizations have already identified this as a booming business opportunity and have gone ahead to create trading platforms, softwares, and robots. Others have taken it as an opportunity to write educational materials about Forex, CFD, cryptocurrency and binary options trading. Still, there are those who have taken it as a chance to develop scam sites. Due to this, you will find that the number of legit stock brokers is almost equal to that of scam brokers. For example, RaceOption claims that it is legit.
However, from our research, this broker is unregulated. Does this ring a bell? We thought so! Further, as mentioned above this broker works on behalf of Finance Group Corp (FGC), a firm that has a lot of negative feedback and unending complaints. Traders have also been warned severally against trusting the company and any other broker that associates with them. This can only mean one thing; this brokerage firm is a scam. The signs of RaceOption scam do not end there. The brokerage does not accept United States traders and neither are binary options providers allowed to operate in the US. However, according to its site, there is huge traffic from the region, an indication that its a scam.
Alternatives To RaceOption
Claiming to have traffic from the United States – a region where binary options advertising is not allowed – is enough evidence that RaceOption is not legitimate. Fortunately, there are a plethora of trusted brokerage firms that you can consider. 24Option is a remarkable broker that is suitable for both novice and experienced traders. It is licensed and regulated by The International Financial Services Commission Of Belize and Cyprus Securities Exchange Commission. Also, you can go through our Markets.com Review, which is also a recommendable broker. The broker is run by Safecap Investments Limited which operates under the regulation of the Cyprus Securities and Exchange Commission. These two are not only good as trading platforms but also excellent for learning every element that pertains to trading.