EmpireOption – 2020 Traders’ Review – Scam

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EmpireOption

EmpireOption

  • No FAQ page
  • No Demo Account

Established in 2020, EmpireOption is one of the leading trading platforms online that has managed to improved itself every time. Their platform is loaded with features that can work with all types of trades, for different types of individuals. Whether one is an experienced trader or a beginner who wants to learn the beginnings in trading, the facilities offered by EmpireOption allow everyone to become confident when placing trades.

The Empire Option website is known for its educational options and facilities, including but not limited to the news center and informative online seminars. Aside from the helpful resources that traders can use online, they can also feel confident knowing that this platform is regulated. If you are new to the business and would like to learn more about EmpireOption, the full review presented below can help you get a better understanding of this platform and the services that it offer.

Trading Platform used by EmpireOption

For its platform, EmpireOption relies on the SpotOption software, a trading platform designer known for its user-friendly and responsive products. At EmpireOption, customers can rely on a browser-based software, which means that you no longer need to download the software to your PC or laptop just to start using the services. Similarly with all binary brokers.

The browser-based software is instantly usable. Users are also given the chance to customize the platform, depending on specific needs and requirements. There are currently five options to choose from, and these popular options that can be enjoyed on this platform are: Forex and CFD trading, Cryptocurrency trading, Stocks, Indicies and Pairs.

When we explored the platform and reviewed the products, we noted that all of these are highly recommended products to use. This means that as an investor who wants to try binary trading, the choice is eventually yours. If you want to enjoy the rush and excitement, then the 60 Second Trades is highly recommended. But if you want to enjoy a long term trading which is associated with higher risks but better rewards, then greater risk:reward ratio and smaller leverage is best.

Other Features of the Platform

The availability of these different trading levels only validate what EmpireOption has been saying and advertising all along, that’s its a platform for different kinds of investors. Through the years, the platform has innovated and changed the way it offered investing tools and services.

The presence of an economical calendar is another interesting feature of the platform, and one add-one that has bewildered some. Although the presence of the calendar at first will not make perfect sense for the beginning investors, keep in mind that when the calendar is used together with a good fundamental analysis trading strategy, then you will easily appreciate its benefits.

Interested investors should also know that price quotes for available assets are streamed in real time through Reuters so you will only get the most accurate data possible.

Flexibility of the platform is assured, thanks to a mobile application that can work seamlessly in your mobile devices.

What to Expect from EmpireOption’s Customer Support?

When it comes to the quality of Customer Support, we feel that this platform is one of the best. Similar to the broker IQ Option, EmpireOption has a live-chat feature that allows you to talk to the customer support at any time while trading.

It comes with a personal touch thanks to the assistance provided by an account manager. We can say that we were impressed by the services. Now here’s the thing- what we don’t like about the platform is the absence of a FAQ pages which can explain some of the critical questions asked by customers.

Other Details You Should Know

Depositing funds on this account is easy, and will give you access to some of the popular payment options. Investors can count on MasterCard, Visa, Neteller, Payza, Skrill or bank wire transfer. Keep in mind that different payment options feature different processing times.

When it comes to withdrawals, EmpireOption offers different processing rules, depending on the account of the customer. Customers will feel confident knowing that the platform takes care of the financial details and information. There is a premium encryption technology used like the ones used in major platforms.

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EmpireOption account types

As a trading platform for different types of traders and investors, EmpireOption offers a number of loyalty programs and trading levels for customized trading experience. With the availability of different trading levels, traders and customers can tap into their unique skills set and experience. Here’s a complete listing of the different trade levels that you can enjoy in the platform, and the features that you can use.

  1. EmpireOption Micro Account. Offered as an entry-level account, the Micro Account from this platform can work for beginners who want to get that start in the business. This is also open to other experienced traders out there, but who would like to take it slow or not serious at the moment. To start an account, the interested investor can invest between $200 and $499, and this account gives the member access to standard features like educational materials, basic banking capabilities and webinars. This is a great account to use if one wants to know the business, and prepare for greater things in investing.
  2. EmpireOption Classic Account. This option is best for the investor who wants a streamlined account, but expect more from the banking features. To join the group, one needs to deposit between $500 and $999. With this account, investors will get access to free webinars, educational resources, an account manager, link to Empire TV, an economic calendar for important events, access to first level marketing strategies and of course, better withdrawal procedures. This should serve as a flexible option for beginners, especially when one is concerned about the withdrawal procedures.
  3. EmpireOption Plus Account. This account offers a marked improvement when compared to the Micro and Classic accounts. To enjoy this level, one needs to deposit between $1,000 and $4,999 in the account. Once the deposit has been cleared, investors will be given access to a personal account manager, a number of educational materials, market simulator, free webinars, upgraded marketing strategies, market reviews, economic calendar, trading signals and better banking services. For banking, investors with this account can enjoy lower minimum withdrawal amounts. Investors that maintain this account will be treated to bonus promotions on a regular basis.
  4. EmpireOption Preferential Account. This is an account for the serious binary traders out there. To enjoy the account and the perks that come with it, interested traders must make a deposit between $5,000 and $9,999. This account will give investors access to free webinars and educational resources, more advanced market strategies, calendar of economic activities, one-on-one trading sessions, access to Empire TV, market reviews and friendly banking solutions, including 3-day withdrawal processing times and a $1 minimum withdrawal.
  5. EmpireOption VIP Account. This is the ultimate EmpireOption account for the serious traders out there. This level can be earned if one invests at least $20,000 in the platform. Since this is the premier account offered by EmpireOption, investors can count on a full suite of features and benefits including access to high level marketing strategies, help of a personal account manager, one-on-one trading sessions, access to Empire TV and in-depth market reviews. Also, investors can count on an advanced banking options that include instant withdrawal.

Our Final Words on this Platform

Based on our tests of the platform, we found some problems but these are too minor. If we take a look at the overall quality of the investing platform, we can say that EmpireOption truly delivers to its customers and investors thanks to the use of educational tools and other resources. This is one of the investing platforms that we can truly recommend.

EmpireOption Pros

  • User-friendly platform
  • Variety of option products
  • Personal customer support
  • Accounts for different types of traders Mobile trading app

EmpireOption Cons

  • No FAQ page
  • No Demo Account

EmpireOption – Review author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

EmpireOption Review

Introduction

Launched in 2020 in Uruguay, with UK based processing, EmpireOption is a broker that has been trading for 7 years. Using the SpotOption platform, they offer the trader a huge 180 assets. It is the use of the SpotOption trading platform which allows them to offer such a range of assets as brokers who provide their proprietary platforms are limited to much less.

With customer support available in so many languages, including Spanish and Portuguese, their Uruguay routes have led them to develop an offering that is very popular in South America in countries like Brazil and Chile. Their customer support is very accessible to anyone that trades with them offering not only the usual contact methods but also making use of social media platforms like Facebook, Twitter and Google+.

While many brokers using the SpotOption trading platform are limited to the constraints of the software, EmpireOption has managed to keep their cashier system and maintained their independence. They may be one of the more established brokers in the binary options trading space, but they have evolved with the times with tools like social trading and iFollow.

In this review, you will learn:

    Which different account types the broker offers The different types of trades available to you What features and customer support they offer

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Account Types

While smaller accounts are available in the EmpireOption offering, they aren’t aiming for the small account market. Withdrawals are discouraged with the Micro Account, and there is a fee of $30 for doing so not to mention that you have to make 20 trades of at least $25 per trade to be eligible for withdrawal. The minimum trade amount is a rather hefty $25, so this isn’t a broker for the less affluent trader.

On the upper end of the scale, the VIP Account, with its minimum $30k deposit has no withdrawal fees and only a five trade requirement.

Micro Account

The Micro Account requires a minimum deposit of $200 and offers a weekly report and financial analysis. In addition to this, it provides one trade book and one seminar. Withdrawals take up to 10 working days.

Classic Account

$500 is the minimum deposit required to open a Classic Account. It offers a few more benefits than the Micro Account, including an economic calendar and a reduced withdrawal turnaround of seven working days.

Plus Account

Opening a Plus Account with a minimum of $1000 further reduces the withdrawal turnaround to up to five working days and offers even more benefits than the Micro and Classic Accounts with the addition of trading signals.

Account Empire

For those more serious traders, the Account Empire requires a deposit of $5000 or more. For this, you get more trading books, more seminars, signals and one to one help plus a withdrawal deadline of just three working days.

VIP Account

$30000 allows you to open a VIP Account and reduces the withdrawal deadline to one working day and removes withdrawal fees. Of course, all of the same benefits of the Account Empire apply, but apart from the reduced withdrawal deadline, the benefits aren’t any more significant.

Trade Types And Payouts

Short Term Trades

EmpireOption offer Short Term options of 30 seconds, 60 seconds and two minutes. These options are suitable for taking advantage of micro-movements in the markets. They allow you to make a higher volume of trades with a quick turnaround and are ideal if you only have short space of time to trade.

If you work full time and only get short periods to trade, then short term options allow you to trade on your lunch break, this, however, relies on there being the right activity in the market. If you are a full-time trader, the short term option allows you to watch the markets and seize the opportunity.

Long Term Trades

If you have a more strategic approach and want a more robust, reliable plan, then Long Term options allow you to predict the outcome of an asset over a more extended period of time. Many traders prefer this and find it a more stable approach to trading. It may take longer to see results and not carry the same thrill as short term, but it does allow for more forward-thinking.

One-Touch Trades

One-Touch options allow you to trade even when the markets are closed. It is a little more advanced than Short or Long Term options but just as profitable. The objective with a One Touch option is to predict the price an asset will reach before the predetermined expiry time.

If the price is reached, you receive a payout if the predicted amount is not reached you don’t receive a payout and you lose your investment.

Pair Trades

Pairs require you to trade on the outcome of a pair of assets. Let’s say you choose Google and Microsoft as your pair. The objective is to correctly predict which of the two assets will perform better in the trading period.

The payouts offered by this broker are up to 82%.

EmpireOption offers a service called iFollow, allowing you to watch other traders.

Bonuses And Promotions

While there aren’t specific deposit bonuses offered for each different type of account, there are unspecified bonuses available for new accounts, this appears to be discretionary and requires that you speak to an account manager.

There is a very specific “refer a friend” bonus which is explained on the website. If you refer a friend, you receive 10% of the value of the friend’s first deposit, which will be deposited in your account. The friend also receives $50 to trade with.

Mobile Trading

When you arrive at the mobile site, you are immediately asked to download the app to open an account and start trading. It would appear that you can’t trade from the mobile version of the website and that the mobile site is purely an information tool to help you to decide whether you wish to trade with mobile option.

While traders can’t trade on the mobile version of their website; there are apps available for both Android and iOS and accessible from the App Store and Google Play. It is well worth browsing the mobile website, though to familiarise yourself with some of the information that the broker provides about their accounts and customer support.

Deposits And Withdrawals

As with most brokers, deposits can be made using recognised credit cards like Visa and MasterCard as well as wire transfer and several e-wallet and online payment solutions. The minimum deposit to open an account is $250, and all subsequent deposits must be a minimum of $100.

Withdrawals attract a fee of between $10 and $30 depending on the type of account. There are no withdrawal fees for a VIP trader. The time it takes to process a withdrawal ranges from one to ten business days, our test withdrawal took 4 days, and there were no significant withdrawal problems.

Special Features

With social trading being encouraged and supported by EmpireOption, they are offering a service called iFollow. This allows you to watch the success of other traders, often professionals, and then replicate this success yourself. To use iFollow, you select the traders that you wish to follow and then register, copy and make money.

Videos, online courses, webinars, trade books and customised classes are all tools offered on the training section of the EmpireOption website. This information is not openly available to all and depending on the account you open will depend on the level of information that you have access to.

Customer Support

There is no shortage of ways in which to contact the EmpireOption customer support team. There are several numbers to call for traders based in the following locations; USA, Brazil, Chile, Spain, France, Columbia, Mexico, Venezuela and Peru. Help is also available by email in English, Spanish, Portuguese and French. Online assistance can also be offered in the customer’s language.

As well as telephone, email, and chat the company is also available via the social media platforms Facebook, Twitter and Google+. This support is available 24 hours a day, 7 days a week, even outside of trading hours.

Here are the contact details for EmpireOption:

    Email – [email protected] Phone – +54 115 078 9783 Address – Baumann and Kraus Enterprises, Stoney Ground, Kingstown VC0100, St. Vincent and the Grenadines

Conclusion

While this broker may be unregulated, this hasn’t stopped them from making a name for themselves and establishing a good client base, especially in South America where the company began its journey. They offer a good range of accounts, an extensive range of assets and a variety of option types.

The payouts are competitive with anything else in the market place, and the education and tools that they offer are all designed to make the trading experience a good one. They provide a robust and accessible customer support service.

One thing we did observe is that they aren’t looking for the novice trader. The minimum deposit and minimum trade amounts, as well as the fact that there are withdrawal fees for smaller accounts, indicates that they are looking for the high rollers, those that know what they are doing and are prepared to turn over large amounts of money.

So if you are an experienced trader or have more money to play with, then this could well be the sort of broker that you are looking for.

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

Is EmpireOption legit, will they scam me?

EmpireOption would not have been able to trade for so long if they weren’t a legitimate broker. Having been established since 2020, they have built up a strong client base.

Do they have a decent mobile or tablet app?

Upon arriving on the mobile website, you will quickly realise that the mobile site is not built for trading and you will be redirected to the app. The mobile website is purely for information.

What bonus do they offer for new traders?

If you look at the account offerings, there are no pre-determined bonuses. To discover more about the bonuses offered you need to speak with an account manager to agree your discretionary bonus.

Can I start trading on a free demo account?

Yes, to use the demo account the trader has to ask for the virtual funds to trade with from their account manager when they are contacted.

What’s the minimum deposit and trade amount?

The minimum deposit required to open an EmpireOption account is $250. The minimum trading amount depends on whether you are trading Short or Long Term options and ranges from $5 to $25.

Robert has consulted for our website for five years and is a well-established member of the team. While he is passionate about the site, most of Robert’s time is focused on his current position as CEO of a professional coaching company.

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