Owned by NationTraffic, EmpireOption is a “simple and intuitive” international investment trading platform that focuses on traditional binary options. The company claims to have more than 400,000 customers, and to be the number one platform in the binary options industry.
See Also: Make Money Online with Forex Trading
Because EmpireOption is based out of Montevideo, Uruguay, the company is not listed with the Better Business Bureau. However, they do claim to be regulated platform, and to be located in the WTC free zone. Regarding customer satisfaction and/or industry reputation, legitimate online reviews were difficult to come by, due primarily to the company’s affiliate program.
How EmpireOption Works
In business since 2010, EmpireOption is a Uruguay-based binary options trading platform that provides a wide variety of investment tools and professional training programs that can help you become a more successful trader. EmpireOption offers several different short and long-term options, which can be traded in as little as 30 seconds or as long as several months, depending on your investment strategy.
According to the EmpireOption website, binary options are an ideal investment vehicle since they offer “higher risk control and fixed revenue” for investors of any skill level. As such, the company offers five different types of accounts:
- Micro – Includes weekly reports and access to tradebooks and seminars.
- Classic (Bronze) – Includes everything found in the Micro account, in addition to daily reports, access to EmpireTV, economics calendars, Unit I investment strategies, and more.
- Plus (Silver) – Includes everything found in the Classic account, in addition to access to the market simulator and trading signals.
- Preferential (Gold) – Includes everything in the Plus program, in addition to On-to-One counseling, plus investment strategies units I, II and III.
- Empire VIP – Includes everything found in the Preferential program, in addition to the most complete access to training materials.
While the introductory video on the training page was only available in Spanish, EmpireOption also offers a fairly extensive selection of training opportunities, including:
- Tradebooks – Reader-friendly and level-specific, these guides provide actionable advice that can help you move one step closer to becoming a professional investor.
- Seminars – Seminars are free interactive educational opportunities that help you learn how to trade like the pros.
- EmpireTV – A library of interactive training videos that include the “basics of investment, how to diversify your portfolio, trading strategies, planning and much more.”
- Simulator – An EmpireOption exclusive, this tool will help you predict “how certain financial events will affect the value of different assets.”
- Signals – This tool helps you recognize the best opportunities to buy and sell, and ultimately o boost your profits.
- One-to-One – Customized classes that are intended to help you take advantage of market opportunities and to grow your portfolio.
In addition to their web-based services, you can also access EmpireOption from your iOS and Google devices.
EmpireOption Pricing & Refund Policy
Opening and EmpireOption account is free of charge, and there are no monthly contracts, fees, or commissions. However, there are monetary minimums required, depending on the type of account you choose:
- Micro – $100 minimum to open an account. Withdrawals cost $30, with a 10-working day waiting period. Users must perform at least 20 operations per month, and withdraw no more than $500.
- Classic (Bronze) – $500 minimum to open an account. Withdrawals cost $25, with a 7-working day waiting period. Users must perform at least 15 operations per month, and withdraw no more than $2,000.
- Plus (Silver) – $1,000 minimum to open an account. Withdrawals cost $20, with a 5-working day waiting period. Users must perform at least 10 operations per month, and withdraw no more than $3,500.
- Preferential (Gold) – $5,000 minimum to open an account. Withdrawals cost $10 with 3-working day waiting period. Users must perform at least 5 operations per month, and withdraw no more than $5,000.
- Empire VIP – $20,000 minimum to open an account. Withdrawals are free, with no waiting period. While users must perform at least 5 operations per month, there is no maximum monthly withdrawal amount.
Bottom Line: Is EmpireOption a Scam?
Now that you know more about EmpireOption, what’s the bottom line: Is it a scam? While we have no reason to believe that EmpireOption is anything other than a legitimate company, there are some important things you should keep in mind if you’re planning to sign up.
First, while all investments come with a certain level of risk, binary options have a reputation as being particularly volatile, and that the potential gains often do not match with the inherent risk. In addition, the company is based out of Uruguay, so they will not necessarily have to abide by U.S. trading laws. However, the company does have an extensive customer support network with a presence in nine countries.
Finally, the EmpireOption website seems a little “clunky” and incomplete. For example, all of the introductory videos on the Tools page came up as “not found,” which means that most users would be required to make a decision based on the sparse explanatory text. Also, there is no FAQ section available without first signing up for an account, which seems fairly odd considering that you have to spend a minimum of $100 just to start using the service. And, while we did not sign up for a full account during our research, this makes us wonder how well their proprietary simulator functions in the real world.
Do not get involved with this outfit. They have no customer service. You put money in and you can not get it out. They keep requiring documentation and then deny it. I have been trying to get my funds for over 6 weeks. I think my next step is to get in touch with Interpol and file a fraud Claim against this outfit. Mark my word and be careful with Empireoption.
Bottom Line: No, I would not recommend this to a friend
1 out 1 people found this review helpful
Don't Do It
It is NOT as advertised and is definitely not for beginners as EO's third party advertisers deceive you into believing. I read an article in reference to one peddler of "Binary Robot" systems that stated the "salespersons" are compensated for each client sent to the broker. There is no monitoring of the claims these peddlers makes. In other words, you may lose your shirt with no one to blame but yourself.
There are a lot of things EO does NOT tell you before you open your account. Much of this is because the website is so dicey. And if you forget your password the real adventure begins. It took me 2 days to open an account. That should have been my first clue.
And once you make a deposit the door slams shut and is locked and ONLY EO has the key.
I lost my entire deposit the first day (12/1/2016) of trading with the exception of $7. Your investment becomes a butterfly flailing in a hurricane. And all this happens as you helplessly watch your balance dwindle.
It took less than 15 minutes to watch my investment evaporate. Buyer beware or be poor. I learned a hard lesson, DON'T BELIEVE THE HYPE! Figuratively speaking, "Get in bed with this heifer and you may end up with a burning sensation!"
In writing this review, I returned to the EO to get a client ID number. See, I didn't even have to tell you the result. Be smarter than me, DON'T DO IT.
Bottom Line: No, I would not recommend this to a friend