RaceOption Review: Who Is Behind RaceOption.Com?

RaceOption Review, Are you considering RaceOption as your next broker, but hesitant due to its poor ranking? Or maybe you’re curious about the people behind this operation and how they operate. Look no further because our detailed RaceOption review will explore everything you need to know about this broker. 

We’ll delve into its history, management, and operations to give you an unbiased and honest assessment. Besides, we’ll clarify if RaceOption is regulated, a crucial factor when choosing a reliable broker. Don’t miss out on this informative review that will help you make an informed decision.

Regulation and Security of RaceOption

In 2017, RaceOption emerged as a new player in the online broker industry, but little is known about the company behind it. Race Projects Ltd, the company that established RaceOption, is based in the Marshall Islands, an offshore country known for its lax regulations. This alone is enough to raise suspicions. 

Yet, what’s even more concerning is the parent company behind Race Projects Ltd. Our investigation revealed that Finance Group Corp owns both RaceOption and Race Projects Ltd. Unfortunately, Finance Group Corp has a reputation for scams, and both the New Zealand FMA and the US CFTC have issued warnings against it. Finance Group Corp also operates several other scam brands, which is a significant red flag.

What’s more, RaceOption is not registered with any regulatory body, making it entirely unsafe. The lack of transparency about the company and its security measures is troubling, and we could not determine what happens with clients’ funds after deposit. These factors make RaceOption a high-risk option, and we recommend caution if considering trading with them.

Beware and be wise when entangling with companies like RaceOption, GenetiCrypto, ProfitiX, and their ilk. Those enigmatic entities lurk in the shadows of uncertainty.

RaceOption – Trading Platform

RaceOption’s trading platform offers both a Web Trader and a Mobile Trader, unlike most serious brokers that typically provide only an MT4 or MT5 venue for security reasons. These traditional platforms are more difficult to manipulate and tend to have delays. However, web traders are generally considered unreliable, which can allow brokers to manipulate trades and profits.

At RaceOption, clients can hold trades for periods ranging from 1 minute to 30 minutes. Intraday options expire every hour, while long-term options have an expiry date of up to one month. 

On the platform itself, clients have access to trading assets, charts, trader’s choice, time, and amount, and can place trades, while also being able to see the return percentage.

Unfortunately, RaceOption does not offer a demo account.

Trading Instruments Available at RaceOption

This broker offers a wide range of trading options, including currencies, commodities, indices, and shares. With major currency pairs available, as well as minor options like RUB, ZAR, and TRY, there are plenty of options to explore. Besides, they boast over 60 different shares, 9 commodities, and approximately 40 indices for clients to choose from.

However, as an unregulated and potentially suspicious broker, it’s wise to approach money topics with caution. The minimum deposit for a Bronze account is $250, while Gold account holders must deposit $3,000. Deposits can be made using debit/credit cards, Bitcoin, Ethereum, altcoins, and Perfect Money.

According to the company, withdrawals are processed within one hour of submission, and funds are sent through a European bank. However, they do not disclose which bank is used or whether there are any fees associated with withdrawals. It’s important to remember the potential risks involved in using an unregulated broker when depositing and withdrawing funds.

Deposit and Withdrawal Procedure

Race Option allegedly allows customers to deposit funds using both crypto and bank cards. Yet, as an unregulated broker, it’s important to approach this information with a dose of skepticism. 

While the option to deposit using crypto and bank cards may seem convenient, it’s essential to carefully consider the risks associated with using an unregulated broker. Nobody monitors the broker’s activities, which means pricing and trading conditions may not be transparent or fair. 

Additionally, cryptocurrency may add a layer of complexity and risk since cryptocurrencies are not widely regulated or accepted in the same way as fiat currencies. Furthermore, without regulation, there is no guarantee that your funds will be protected or that you will be able to withdraw your funds. As with any investment, it’s essential to do your research and approach the decision with caution. 

RaceOption – Account Types Offered

Race Option appears to offer three account types. They are as follows:

• Bronze
• Silver
• Gold

However, it’s important to approach this broker with a healthy dose of suspicion since it’s not regulated. While the website promises a range of trading instruments and features, including access to educational resources and customer support, it’s unclear how reliable and trustworthy the platform is. The lack of regulation means that there are no external bodies overseeing the broker’s activities. 

Also, there is no guarantee that trading conditions and pricing are fair and transparent. As a potential investor, it’s essential to do your research and carefully consider the risks and benefits of using an unregulated broker like Race Option. 

While signing up for an account with a low minimum deposit may seem tempting, the potential risks associated with unregulated brokers should not be ignored. Ultimately, the decision to use RaceOption or any other unregulated broker is yours. Yet, it’s important to be cautious and informed before making any investments.

What Are the Mechanisms of Fraudulent Offshore Brokers?

Offshore brokers are companies that offer financial services outside a trader’s home country. While some offshore brokers are honest, some use tricky methods to deceive traders. For example, they might promise utopian profits to attract traders. 

Or, they may hide fees and commissions to make it hard for traders to know the real cost of trading. In some cases, offshore brokers may even do unethical things like insider trading or market manipulation. Traders must do research before opening an account to avoid falling prey to these tricks. By being aware of these deceitful tactics, traders can protect themselves and make informed decisions about where to invest their money.

RaceOption and Invest505 have a past of tricking their clients and working without proper registration. It’s important to recognize these resemblances.

RaceOption Summary

RaceOption is an online broker started in 2017 by Race Projects Ltd, a company based in the Marshall Islands, an offshore country with lax laws. The parent company of Race Projects Ltd, Finance Group Corp, has a reputation for scams, and both the New Zealand FMA and the US CFTC have issued warnings against it. 

RaceOption is not registered with any regulatory body, making it entirely unsafe. The lack of transparency about the company and its security measures is troubling, and there is no information on what happens to clients’ funds after deposit. RaceOption has both Web and Mobile Trader trading platforms, but clients cannot open demo accounts. 

Also, this broker offers a wide range of trading options, including currencies, commodities, indices, and shares. The minimum deposit is $250, and the broker allegedly processes withdrawals within one hour of submission. There are three account types: Bronze, Silver, and Gold. However, given its unregulated status and reputation, people should approach this broker with suspicion.

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