RaceOption is an unregulated binary options broker, that is owned & operated by: Makerun Corp, Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands.
RaceOption Broker Review
RaceOption uses a unique Binary Options trading platform with a nice variety of assets available for trading. Traders can utilize Turbo option trading in one minute increments up to 30 minutes. Intraday options have expiry times at each hour, and long term options are have daily expiry time up to one month out. Payouts on the options are from 75% to 95%.
For Forex traders they offer options on major currency pairs and also many smaller currency pairs, like the Singapore Dollar, the Rand, the Turkish Lira, and Russian Ruble. They offer many methods for funding your trading account including; BitCoin, Skrill, Neteller and Credit Cards or Wire Transfer. The minimum deposit for a new trading account is $250.
The mobile trading app does not work anymore.
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Is RaceOption a Legit Broker?
When the Scam Broker Investigator reviews a binary options broker to determine if they are a scam broker or legit, we check to see if a regulator like CySEC in Cyprus, or ASIC in Australia gave them a license.
We also check if they are registered with ASIC Australia or the CFTC in the United States. On November 11th 2016 Finra wrote an investor alert regarding binary option scam brokers. Read entire alert on FINRA’s website, see here. Americans should only trade with a CFTC regulated broker, see here.
While reviewing RaceOption in 2017, we saw that they are licensed in Vanuatu, under the name FGC – Finance Group Corp., 2nd Floor, Transpacific Haus, Lini Highway, Vanuatu. They are no longer a licensed or regulated broker. For a period in time their were owned by: Race Projects Ltd, 306 Premier Building, Albert Street, Victoria, Mahe, Seychelles.
Traders looking for a locally licensed broker should see the list of licensed broker here.
Please share your experience with this broker, in the comments below.