EmpireOption Review

EmpireOption Review

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EmpireOption – Binary Options Broker. Company founded in 2020 in Uruguay. Platform languages: English, French, Spanish, Portuguese. Minimum deposit = $200. Empire Option is one of the many binary options brokers running the SpotOption trading platform. It is owned by Baumann & Kraus Enterprises Ltd based in London, UK. Empire Option is yet to be a regulated binary options broker.

Trading Conditions

Empire Option offers up to 5 different account types with different trading conditions suitable for the different investor profiles as shown below;

Figure; Empire Option Account Types
Empire Option Registration

Figure; Empire Option Registration Form

Registering with Empire Option only takes a few minutes requiring only basic personal information such as; names, email address, birth date, country and mobile number. One can open a USD, EUR or GBP denominated account. As part of the KYC policy, Empire Option requires the following documents from its clients;

• Proof of identity (Government ID or passport)
• Proof of address
• If funds were deposited using a Credit Card; copy of the Credit Card used, back and front with the last 4 digit uncovered.

Deposits and Withdrawals

Deposits

Figure; Empire Option Deposit Options

Deposits to the Empire Option trading account can be done via Credit Cards (Visa, American Express, MasterCard, Dinersclub e.t.c), Skrill, Neteller and Bank Wire Transfer. Transfers via bank wire require a minimum transfer amount of $500; for amounts greater than $1000, Empire Option assumes the transfer fees.

Withdrawals

To withdraw from one’s Empire Option account, a withdrawal request is required with attachment of the relevant documents if the account was not verified at account opening. Withdrawal conditions vary depending on the account type as shown below;

Trading Platform

Empire Option uses the popular SpotOption web based trading platform as well as mobile trading applications for Android and iOS.

Empire Option Web Based Trading Platform Features;

• Candlestick and area charting
• Multi-timeframe charting
• Traders’ sentiment index
• Several Option types available on the same platform
• Spot Forex trading is available on the same platform
• Ability to view open and closed positions classified according to option type

Cons;

• Limited charting area
• No technical indicators
• No technical drawing tools

Figure; Empire Option Web Based Trading Platform
Empire Option’s iFollow feature allows traders to follow other successful traders and copy their trades into their own trading account.

Figure; Empire Option iFollow Social Trading Feature

Empire Option Signal Service
Holders of a Plus account and above at Empire Option are able to access trade signals. Plus account holders are able to access signals from 1 asset group, 2 asset groups for Preferential accounts and 4 asset groups for VIP accounts. Signals are provided by FAUNUS

Figure; Empire Option Signal Service

Education

Empire Option offers the following educational resources; news, economic calendar commentary, Empire TV, tradebooks, seminars and an economic events simulator.

Pros and Cons

• Social and copy trading is available in the trading platform
• Trading signals are available
• Resourceful education section
• Mobile trading
• Up to 5 account types to choose from
• Several option types to choose from
• Spot Forex trading on the same platform
• Customer support in several languages
• Several payment methods are available

• US residents are not allowed
• Non-regulated broker
• The trading platform is not suitable for technical analysis

Customer Support

• ‘Contact Us’ via web form
• Live Chat
• Email Support
• Phones; English (+1) 212 845 9749

Spain (+34) 932 202 011

Argentina (+54) 11 5078 9783

Mexico (+52) 722 477 9925

Chile (+56) 45 294 3753

Colombia (+57) 4 204 0553

Peru (+51) 17 061 987

Venezuela (+58) 212 720 1913

• Email; [email protected]
• Address; Baumann & Kraus Enterprises Ltd, Address 1A, Arcade House, Temple Fortune, London, NW 11 7TL, United Kingdom

Conclusion

EmpireOption is one of the many binary options brokers running the SpotOption web based trading platform which has become very popular with traders. Empire Option also offers good trading conditions, however, it is yet to be a regulated binary options broker

Please post Comment/Review about “EmpireOption”, if you have any experience with this Binary Options broker. Use tab “Comments” (top of the page)… Now, everything seems OK with Empire Option. “ProfitF” will keep monitoring this broker and update this review if any changes take place.

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EmpireOption.com Reviews

About EmpireOption.com

EmpireOption.com is a web-based binary options broker platform. Through their site, members are able to invest in a selection of over 250 assets, including currencies, stocks, commodities and indexes. The new iPhone, Android and iPad EmpireOption applications enabling them to place trades from anywhere, at any time.

EmpireOption’s easy to use interface is great for new traders and quick to navigate for seasoned traders. There are trading tools which assist investors through its platform functions. With free seminars on binary options, members can discover different investment strategies guided by their professional training program.

Different binary option trading techniques exist within the EmpireOption trading platform. Not only do they offer a Traditional trading method but they also feature Rollovers, Double Ups, 60 Seconds, a One Touch trading system for weekend trades Option Builder to customize portfolios.

EmpireOption Reviews: Deposit, Demo & Binary Options Trading Info

IQ Option No. 1 Software

EmpireOption is based in Uruguay and was launched in 2020. The company’s processing center is in the UK and it utilizes the SpotOption trading platform to offer more than 180 assets for trading. EmpireOption is a cut above binary options brokers that utilize proprietary platforms as the SpotOption platform enables them to offer a wider range of assets.

Besides English, customer support is also available in Portuguese and Spanish. Because they are based in Uruguay, EmpireOption is popular in South American countries like Chile and Brazil. Another point that makes them stand out among binary options brokers is that they offer customer assistance on on social networks like Google+, Twitter, and Facebook.

Deposit and Trade Amounts

All EmpireOption reviews show the minimum deposit amount needed to open an account is $200 and you can make subsequent deposits of $100. The minimum trading amount depends on your choice of either short term or long term options. For short term options, a minimum trading amount of $5 is accepted, while for others you need to invest at least $25 per trade. The highest accepted trading amount is $1000. This broker offers up to 85% payout. For smaller accounts, there are withdrawal fees. Available currencies are USD, GBP, and EUR.

Trading Platform

The SpotOption trading platform offers a modern yet user-friendly interface that can be easily mastered even by novice traders. This platform offers easily accessible features and its services are grouped in segments such as Contact, Accounts, Training (educational materials), Social Trading (features), and Tools (services and trade options).

Demo Account

EmpireOption reviews show that it is one of those binary options brokers that help traders with a convenient demo account. However, you need to open a live account first to be able to use the demo account. The broker gives you $10,000 in virtual money and you can avail this facility by asking your account manager. Use the demo account to learn all about the trading platform and its tools before you invest real money.

Mobile Trading

Please note that you cannot use the mobile version of this broker’s website for trading. However, the mobile version does provide useful info about your account as well as customer support. For mobile trading, you can download apps for Android and iOS devices to empower yourself to trade on the go.

Trading Accounts

EmpireOption offers 5 types of trading accounts:

Micro Account

• Minimum deposit $200+
• Minimum withdrawal $200
• Withdrawal time – 10 working days
• Seminars and tradebooks
• Weekly financial reports

Classic Account

• Minimum deposit $500+
• Minimum withdrawal $100
• Withdrawal time – 7 working days
• Promotions
• Investment strategy – unit 1
• EmpireTV + economic calendar
• Personal account manager
• Seminars and tradebooks – intermediate level
• Daily financial reports

Empire Plus Account

• Minimum deposit $1000+
• Minimum withdrawal $100
• Withdrawal time – 5 working days
• Daily financial reports
• EmpireTV + economic calendar
• Investment strategy – unit 1
• Market simulator
• Personal account manager
• Promotions
• Seminars and tradebooks – intermediate level
• Trading signals

Preferential Account

• Minimum deposit $5000+
• Minimum withdrawal $1
• Withdrawal time – 3 working days
• Daily financial reports
• EmpireTV + economic calendar
• Investment strategy – unit 1+2+3
• Market simulator
• Personal account manager
• Promotions
• Seminars and tradebooks – advanced level
• Trading signals

Empire VIP Account

• Minimum deposit $30,000+
• Minimum withdrawal $1
• Withdrawal time – 1 working day
• Daily financial reports
• EmpireTV + economic calendar
• Investment strategy – unit 1+2+3
• Market simulator
• Personal account manager
• Promotions
• Seminars and tradebooks – advanced level
• Trading signals

Trade Types

EmpireOption offers 4 trade types:

• Short term options (30 seconds, 60 seconds, and 2 minutes)
• Long term options
• One touch options
• Pair options

Promotions and Bonuses

EmpireOption does not offer specific deposit bonuses for the different trading accounts. However, new accounts may be eligible for unspecified bonuses. Talk to your account manager for information on these bonuses.

This broker offers a ‘refer a friend’ bonus under which you if you refer a customer, you will get 10% of that customer’s first deposit in your account. In addition, the friend will also get $50 for trading.

Banking Info

You can easily make deposits using secure methods such as credit cards, wire transfer, online payment solutions, and e-wallets. There is a withdrawal fee of between $10 and $30 depending on the account type. VIP accounts are not levied withdrawal fees. Depending on the account type, the withdrawal time is between 1 to 10 business days.

Unique Features

EmpireOption supports social trading by offering a tool named iFollow. This service allows you to copy the winning strategies of successful traders. Simply choose the traders you want to follow, register, duplicate, and boost your profits.

This broker offers customized classes, trade books, webinars, online courses, and videos on their website. Your access to these training materials depends on the account type you open.

Customer Support

EmpireOption provides 24/7 assistance through phone, live chat, and email. Local customer support numbers are provided for the following countries: USA, Peru, Venezuela, Mexico, Colombia, France, Spain, Chile, and Brazil. Email support is offered in English, French, Portuguese, and Spanish. In addition, you can avail online help in multiple languages. This broker is active on social sites such as Twitter, Facebook, and Google+.

Summary

To sum up, here are the positives: variety of option types, wide range of assets, multiple account types, competitive payout rate, and informative educational materials. On the downside, they are are unregulated. In our opinion, EmpireOption is best suited for professional traders and those who are willing to wager high sums of money. Such investors can open one of the premium accounts and enjoy the benefits offered for them.