RaceOption Fees And Costs Explained
Type of fees | Fees from |
---|---|
Deposit fees | $0 |
Withdrawal fees | $0 ($50 on bank transfers) |
Inactivity fees | $0 |
Trading fees | $0 |
In binary options trading, there are some brokers that are known for offering the best trading options. One of them is RaceOption.
It operates under the name “Race Project Ltd” in the Seychelles, the headquarters of RaceOption. Traders can easily register on this platform. Once registered, the user has access to thousands of trades listed daily and hundreds of investment options, such as stocks and commodities.
In this article, we will take a closer look at RaceOption’s fees. How much does it cost to trade with the broker? What do I need to be aware of? All answers are here.
See here an overview of all charges and costs:
The minimum deposit fee for live trading: | No |
Deposit fees: | No |
Withdrawal fees: | No, but $50 on bank transfers |
Account maintenance fees: | No |
Inactivity fees: | No |
Fees on digital options trades: | No |
Overnight fees: | From 0.07% |
Currency conversion fee: | Yes |
Market data fee: | No |
Trading platform fees: | No |
(Risk warning: Your capital can be at risk)
What you will read in this Post
Spread fees, commissions, and swap fees on RaceOption
If you trade non-leveraged cryptocurrency CFDs, you must accept a fee of 1-2.5% of the transaction value. If you trade leveraged cryptocurrency CFDs, you will be charged a 5% commission.
???? Commissions on deposits and withdrawals: | 5% via VISA or MasterCard |
???? Commissions on trades: | No additional commissions |
???? Spread fee: | From 1% to 2.5% |
???? Swap fee: | From 0.07% |
Trading fees on currency pairs
Raceoption presents a distinguished platform for trading binary options on a multitude of currency pairs, such as EUR/USD, GBP/USD, and several others. The most enticing aspect is the complete absence of fees when trading binary options on currency pairs using Raceoption.
Currency pair: | CFD fees: | Binary Options fees: | Minimum trade amount: |
EUR/USD | From 0.00 pips | No | $1 |
GBP/JPY | From 0.00 pips | No | $1 |
AUD/CHF | From 0.00 pips | No | $1 |
USD/JPY | From 0.00 pips | No | $1 |
GBP/USD | From 0.00 pips | No | $1 |
NZD/USD | From 0.00 pips | No | $1 |
Trading fees on commodities
With Raceoption, traders can engage in binary options trading on popular commodities, including gold, copper, and oil. Just like currency pairs, there are no fees involved in trading binary options on commodities through Raceoption.
Commodity: | CFD fees: | Binary options fees: | Minimum trade amount: |
Gold | From 0.00 points | No | $1 |
Copper | From 0.00 points | No | $1 |
Brent Oil | From 0.00 points | No | $1 |
Trading fees on cryptocurrencies
As cryptocurrencies continue to gain traction in the financial world, Raceoption supports binary options trading for digital currencies like Bitcoin, Ethereum, and Doge. The platform refrains from imposing any fees for trading binary options on cryptocurrencies.
Cryptocurrency: | CFD fees: | Binary options fees: | Minimum trade amount: |
Bitcoin | From 0.00 pips | No | $1 |
DOGE | From 0.00 pips | No | $1 |
Ethereum | From 0.00 pips | No | $1 |
Trading fees on stocks
Raceoption provides an exceptional platform for trading binary options on a broad selection of stocks, including well-established companies across different industries. The platform allows traders to benefit from the potential price fluctuations of these stocks. A significant advantage of Raceoption is the total absence of fees when trading binary options on stocks, making it an attractive choice for traders aiming to minimize their trading expenses.
Stock: | CFD fees: | Binary options fees: | Minimum trade amount: |
BMW | From 0.00 pips | No | $1 |
Lufthansa | From 0.00 pips | No | $1 |
Daimler | From 0.00 pips | No | $1 |
Trading fees on indices
Indices offer a diverse range of companies and sectors, making them an appealing option for a variety of traders. Raceoption enables users to trade binary options on prominent indices such as the S&P 500, NASDAQ, and Dow Jones. There are no fees associated with trading binary options on indices through Raceoption.
Index: | CFD fees: | Binary options fees: | Minimum trade amount: |
Spain35 | From 0.00 pips | No | $1 |
USA30 | From 0.00 pips | No | $1 |
Swiss20 | From 0.00 pips | No | $1 |
The fees on RaceOption explained
The minimum deposit for live trading with this provider is USD 0, and there are no deposit fees. Furthermore, there are no fees for withdrawals, except for bank transfers, which incur a fee of USD 50.
There are no account maintenance or inactivity fees and there are no fees for trading digital options.
However, fees of 0.07% may apply to overnight positions. There is a currency conversion fee but no fees for market data or the trading platform.
Overall, most of the fees with this provider are quite low or are not charged at all. It is still important to check the exact terms and conditions to avoid unexpected costs.
Turnover terms and fees of bonuses
The important turnover expected for the account is having or not having a bonus. Before making a withdrawal, you must consider the below conditions:
- Having no bonus means one needs to order an equal amount to 100% of the amount deposited.
- Having a bonus means one needs to hit a turnover of 300% of the amount invested.
Minimum deposit fees for account types
RaceOption has three different types of accounts with different features along with some benefits, which are:
1. Gold Account
2. Silver Account
3. Bronze Account
Let’s understand these three account types in detail.
1. Gold
- A premium account that needs a $3000 deposit.
- Most used by expert traders
- Have advantages and advanced features like expert analysis, 100% bonus, and features in the silver account and bronze account.
Get a free deposit bonus of 100% with our promotion code “BOFREE (100$ No Deposit Bonus)”
2. Silver
- Most favorable, which needs $1000 starting deposits.
- Offers double features compared to Bronze Account such as master sessions, personal manager, 50%+ bonus, initial trading up to three are secure and also features available in Bronze Account.
3. Bronze
- Most used by entry-level traders and low-tier.
- Permit to standard options after a $250 deposit, like duplicating top trading tools, 24/7 customer service, a Demo Account, and a 20% reward.
(Risk warning: Your capital can be at risk)
(Risk warning: Your capital can be at risk)
Get a free deposit bonus of 100% with our promotion code “BOFREE (100$ No Deposit Bonus)”
Conclusion: No hidden fees on RaceOption
RaceOption is a reputed broker with a beneficial platform. Though it is not the secured regulator in the market, it still holds market share due to the features provided to the customer. It is a credible platform for trading and a perfect decision for many traders.
The deposit amount depends on the type of account you choose, and that varies from $250 to $3000. It also provides features according to the account selected. The better the account one chooses, the better experience one has. There are no fees on deposits.
For withdrawal, the user needs to have all the necessary documents. It takes almost one hour to proceed with the withdrawal. It will create problems only if documents are not completed. There are no fees or costs for withdrawals.
There is a wide variety of assets that can be traded for the short-term and long term. It is a global service that has lots of benefits.
One needs to analyze the assets and their current value in the market, predict the rise and fall of the assets in the near future, and finally, decide.
(Risk warning: Your capital can be at risk)
Frequently asked questions about the fees on RaceOption:
Are there overnight fees/swap fees on RaceOption?
If you hold positions overnight, swap fees will apply at RaceOption. For CFDs, there is a base rate of 0.07% of the face value. For specific trading instruments, it can be higher.
Is RaceOption free?
The demo account on RaceOption can be used free of charge. However, if you open a real money account, you will pay standard trading fees. These are spreads and commissions that apply.
How much does it cost to deposit on RaceOption?
The deposits on RaceOption are free of charge for most deposit methods.
Do I have to pay for market data on RaceOption?
No, there are no market data fees on RaceOption! All the market data you need is provided to you for free.