EmpireOption is based in Uruguay and was launched in 2010. 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+.
Educational Resources
EmpireOption offers a variety of educational resources to support traders at all experience levels. These resources help users enhance their trading skills, understand market dynamics, and make informed decisions. Here are some key educational offerings:
- Webinars and Live Training Sessions: EmpireOption hosts regular webinars that cover a range of topics, including trading strategies, market analysis, and platform features. These sessions allow users to interact with experienced traders and ask questions in real-time.
- Video Tutorials: The platform provides video tutorials that guide users through trading and platform navigation. These short, focused videos are ideal for visual learners looking to grasp concepts quickly.
- Ebooks and Guides: EmpireOption offers downloadable ebooks and guides that delve deeper into trading techniques, risk management, and financial markets. These comprehensive resources serve as valuable references for both beginners and seasoned traders.
- Market Analysis Reports: Users can access market analysis reports that provide insights into current trends and potential trading opportunities. This information is crucial for making informed decisions based on market conditions.
- Demo Account: A demo account allows users to practice trading without risking real money. This feature is especially beneficial for beginners who want to test strategies and familiarize themselves with the platform.
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.
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