Overview of EMPIREOPTION
EMPIREOPTION is an unregulated binary options broker that was established in 2010 and is registered in Saint Vincent and the Grenadines. The broker operates without oversight from financial authorities, offering trading in various assets, including currencies, stocks, commodities, and indices, through the SpotOption trading platform. Traders are required to make a minimum deposit of $200 to open an account. Customer support is available via a provided phone number, although no other support channels are mentioned.
Regulation
EMPIREOPTION operates as an unregulated binary options broker, without any oversight or regulation from financial authorities. This means client funds and transactions are not subject to any regulatory oversight, and the broker's adherence to industry standards and best practices is questionable.
Pros & Cons
On the positive side, the broker offers access to various markets, including currencies, stocks, commodities, and indices, catering to traders with diverse interests. Additionally, EMPIREOPTION provides tiered account types, which may appeal to traders with varying investment levels and trading preferences. However, the lack of regulation is a significant concern, as EMPIREOPTION operates without oversight from financial authorities, exposing traders to potential risks and a lack of investor protection. Furthermore, the minimum deposit requirements and withdrawal minimums may be unfriendly for some traders, particularly those with smaller accounts. Moreover, the withdrawal processing time for most account types is relatively slow, which could be inconvenient for traders seeking prompt access to their funds.
Market Instruments
EMPIREOPTION provides access to over 200 assets, which include:
Currency Pairs: The broker offers major currency pairs such as EUR/USD, GBP/USD, AUD/USD, USD/CAD, USD/CHF, USD/JPY, EUR/JPY, and numerous other forex pairs.
Stocks: Traders can take positions in prominent stocks from major global markets, including tech giants like Apple and Google from the US, as well as companies like Nike, France Telecom, and Tata Motors from other regions.
Commodities: EMPIREOPTION allows traders to speculate on precious metals such as gold, platinum, and silver, as well as energy commodities like crude oil.
Indices: The broker provides access to trading major global indices, such as the Dow Jones-30 Future, Nasdaq-100 Future, S&P-500 Future, IBEX-35, FTSE-100 Future, DAX-30 Future, ASX-200 Future, and many others.
Minimum Deposit
EMPIREOPTION has set a minimum deposit requirement of $200 to open an account. The minimum trading amount varies based on the trader's preference for either short-term or long-term options. For short-term options, the minimum trade size accepted is $5, whereas long-term options require a minimum investment of $25 per trade. The maximum trading amount permitted is capped at $1,000. The broker offers attractive payout rates of up to 85% on successful trades. However, smaller accounts are subject to withdrawal fees. EMPIREOPTION facilitates trading in three major currencies: US Dollars (USD), British Pounds (GBP), and Euros (EUR), providing traders with flexibility in managing their funds.
Account Types
EMPIREOPTION presents traders with a diverse selection of account types, each tailored to accommodate different investment levels and trading preferences. From the entry-level Micro Account, designed for those seeking a modest start with a minimum deposit of $200, to the exclusive Empire VIP Account, catered to high-net-worth individuals with a substantial minimum deposit of $30,000, the broker offers a range of options to suit various financial profiles.
The higher-tier accounts, such as the Classic Account, Empire Plus Account, Preferential Account, and Empire VIP Account, provide enhanced features and privileges. These include lower minimum withdrawal amounts, expedited withdrawal processing times, access to promotions and bonuses, daily financial reports, personalized account management, and trading signals.
Promotions Offered
EMPIREOPTION entices traders with attractive bonus offerings, including a prominent 100% bonus that allows traders to double their initial investment upon account opening.
Trading Platform
EMPIREOPTION provides access to the SpotOption trading platform, which features a modern and user-friendly interface designed to cater to both novice and experienced traders alike. The platform offers easily accessible features and organizes its services into segments such as Contact, Accounts, Training (educational materials), Social Trading (features), and Tools (services and trade options).
Deposit & Withdrawal
EMPIREOPTION enables traders to fund their accounts through several payment methods, including credit cards, wire transfers, online payment solutions, and e-wallets. However, smaller accounts may be subject to withdrawal fees ranging from $10 to $30, depending on the account type. VIP accounts are exempt from these fees. The withdrawal processing time varies from 1 to 10 business days, contingent on the account type.
Customer Support
EMPIREOPTION offers multilingual customer support, catering to traders in English, Spanish, French, and Portuguese. Traders can request a phone call to speak with a customer service representative. The provided telephone number for customer support is (+54) 11 5078 9783.
Conclusion
To provide a summary, EMPIREOPTION is an unregulated binary options broker offering various tradable assets and tiered account types. While the broker's product offerings and bonuses may seem attractive, the lack of regulation is a worrying sign. Additionally, the unfriendly minimums and slow withdrawal times for most account types could be deterrents for some traders. Overall, traders should exercise extreme caution and thoroughly evaluate the risks before considering EMPIREOPTION as a viable trading platform.
FAQs
Q: Is EMPIREOPTION a regulated broker？
A: No, EMPIREOPTION operates as an unregulated binary options broker, without any oversight from financial authorities.
Q: What are the potential risks of trading with an unregulated broker like EMPIREOPTION？
A: Trading with an unregulated broker exposes traders to significant risks, as there are no regulatory safeguards or investor protection measures in place. Client funds and transactions are not protected, and the broker's adherence to industry standards and best practices is questionable.
Q: Does EMPIREOPTION offer any investor protection mechanisms？
A: As an unregulated broker, EMPIREOPTION does not provide any investor protection mechanisms or compensation schemes to safeguard client funds and interests.
Q: What trading platforms does EMPIREOPTION offer？
A: According to the information provided, EMPIREOPTION utilizes the SpotOption trading platform, which is a popular choice among binary options brokers.
Q: What payment methods does EMPIREOPTION accept？
A: EMPIREOPTION supports various payment methods, including credit cards, wire transfers, online payment solutions, and e-wallets, for depositing and withdrawing funds.
CopyRet
Risk Warning
Online trading carries substantial risk, potentially leading to the total loss of invested funds. It may not be appropriate for all traders or investors. It's crucial to fully comprehend the associated risks before engaging in trading activities. Additionally, the content of this review is subject to change, reflecting updates in the company's services and policies. The review's creation date is also relevant, as information could have become outdated. Readers should confirm the latest information with the company prior to making any investment decisions. The responsibility for utilizing the information provided herein lies exclusively with the reader.
