EmpireOption General Information
Headquarters: Riverjor SA, located in Montevideo, Uruguay at 1294 Luis Bonavita, WTC.
USA Traders: Not Allowed
Available Assets: 180
Min. Deposit: $200
Min. Trade Size: $20
Max Trade Size: $1000
Additional Features: iFollow – allow traders to follow other traders
Platform Provider: SpotOption
Languages: Spanish, Portuguese and English.
Will start by saying that this broker is mainly focusing on clients from South America and Spanish speaking countries, hence, if you are not a native Spanish speaker perhaps it is best for you to look for a different broker. They are mainly popular in Brazil, Argentina, Colombia and Mexico, yet they do offer English phone and email support as well as Spanish and Portuguese.
In terms of making a deposit, Empireoption is a real heaven for South American clients as they offer many local payment methods for their clients including Dinero Mail, Bank ticket, Boleto Bancario, Skrill Moneybookers, Payza, Neteller, Inpay and Online Banking.
Remember! When choosing a binary option broker it is always important to trade only with Regulated binary option brokers.
Nothing too exciting here as the trading platform is provided by spotoption, so that means that it looks like many other trading platforms, as spotoption is dominating the binary industry, providing roughly 65% of the total binary platform. Important to mention that they did changed a while ago their home page design and the outcome is quite good. They also offer a mobile version of the trading platform both for Android and iOS.
They do not offer anything we haven’t seen before, yet they do have a feature called iFollow, which is basically a type of social trading. It gives a trade the option to see what are traders are doing and to copy their trades, the only disadvantage is that you can’t make it fully automated, meaning you need to place the trades yourself. We are also not quite sure how reliable is that feature.
Bonus & Withdrawals
With Binary Options Brokers there is usually something weird when it comes to withdrawal terms and conditions, and with EmpireOption it’s no different.
Clients with less than $200 in their balance are not allowed to make any withdrawals! if you do have anywhere from $200 to $500 in your balance, you will need to trade at least 20 times and with at least $25 per trade!! and only than you will be able to make a withdrawal, that will cost you a fee of $30.
Apparently, the only way clients can make unlimited withdrawals with empireoption is if you are a VIP member, which means you need to have at least a minimum balance of $20,000!
As for their offered bonuses, nothing too special as they offer like most brokers up to 100% with a trading requirement of 30 times the bonus, which is not too high compare to industry standard, yet we are against taking bonuses from binary brokers in general, so try to be strong and avoid the temptation.
Why to open an account with EmpireOption
Well, as said in the opening of this broker review, they do offer a very strong support for those who speaks Spanish, and are perhaps one of the best brokers in terms of support for the South American market.
Why NOT to open an account with EmpireOption
It is very hard for us to recommended on brokers who make it very hard for traders to make a withdrawal request, and in the case of EmpireOption, you will need to work quite hard to make a withdrawal request.
Apart from that, there are way too many complains and negative reviews on many binary options forums, excusing this broker as scam, just type on Google EmpireOption and you will find out yourselves.
To learn more about the way scam brokers works Click here
Wall Of Shame
Post a comment if you have had a bad experience with EmpireOption.