EmpireOption Review

Founded in 2011, EmpireOption is reaching its 5th year with an impressive following. This well-established binary options broker has accumulated several awards during this time, acknowledging the site as a trustworthy service provider.

EmpireOption was founded by a selection of trading veterans – demonstrating a clear understanding of traders’ needs and therefore offering the best possible scenario to new clients. In this competitive space we feel that it is their great introductory tools (online seminars and downloadable eBooks are a great addition) and excellent support options that help place them as a forerunner.

The broker is registered under Lubona Enterprise Ltd, established in 2010 with offices in the British Virgin Islands. Despite a listed office address in Brighton, UK, the headquarters for EmpireOption are located offshore at the WTC, Montevideo, Uruguay and as such is only regulated locally. This of course means that the platform is available to traders worldwide including the USA, with exception to those based in Uruguay itself.

A high level of educational content is included on the website, which we feel reflects EmpireOption’s desire to create a safe and successful trading environment beneficial to their traders. All users have the opportunity to get instant help via an online chat feature, however you may also gain access to an Account Manager – a fantastic additional feature.

Trading Platform and Features

EmpireOption is supplied by SpotOption, the leading binary options platform provider. With proven trading technology, SpotOption is a firm favourite of ours. The platform is web based, requiring no download and is optimised for mobile use with Apps for both Android and iOS devices.

EmpireOption’s mobile apps are free to download and features real-time market valuations with live graphs for each one and access to trading history. In the current marketplace, mobile trading is a key feature that allows flexibility, enabling you to grasp financial opportunities at any given moment.

There are some brilliant key features to note too. Firstly, short term trading is a viable option through this broker. Trades can be made instantly in 30, 60 or 120 seconds, allowing you to seize the moment and profit from the volatility of the market.

Alternatively, if you consider yourself a more cautious trader, then EmpireOption can provide an extensive support network through their Social trading feature. A new and increasingly popular form of investment, Social Trading allows users to connect to one another, sharing knowledge and collective information. iFollow permits users to embark on copy trades – replicating the moves of more successful or experienced traders.

Trading Accounts and Payouts

EmpireOption boasts an 85% payout – an excellent return rate for binary options brokers. However, how and when you may withdraw your payout will vary according to the account type held.

The deadline and minimum withdrawal amounts correlate and work against the deposit requirements for each account. The entry-level account requires a minimum deposit of $200 to open and the premium a deposit of $30,000 +. Our research indicates that the features, financial and support perks are varied, and most beneficial to those opening a Classic Account or higher.

There are no demo options available with this broker, which likely explains the offer of a Micro Account for new traders. They also provide access to seminars and tradebooks with the minimum $200 deposit. This is great if you’re confident with your own analytical skills and understanding of the markets. Alternatively, the $300 difference to open a Classic Account really does pay for itself, as this opens the door to additional trading support.

Account Packages:

• Micro: A deposit of $200 – $499 will provide you with access to the Micro Account. This will enable you to read through a trading course (e-book and seminar), weekly financial analysis and access to every available mode on the platform, complete with your own profile area.
• Classic: A deposit of $500 – $999 will provide you with access to the Classic Account. This comes with investment strategies, further educational materials, special promotions, a personal account executive and daily reports. It will also enable you to receive exclusive content from EmpireOption and access to their financial calendar. This will help you to improve your performance and increase your trading success. You can also make one free withdrawal per month (after which the cost is 25 USD/EUR each).

• Empire Plus: A deposit of $1000 – $4999 will provide you with access to the Empire Plus Account. In addition to the benefits received with the classic account, you will be given 1 group of trading signals and insight into the market via a simulator. This will provide you with first-hand information, further guiding you on your path to success. Withdrawal waiting period is now reduced to 5 working days at a cost of 20 USD/EUR (after your initial free withdrawal per month).

• Preferential: A deposit of $5000 – $29,999 will give you access to the Preferential Account. Along with the benefits of the Empire Plus account, the minimum withdrawal is reduced to $1 with a maximum of $5000 and the waiting time is only 3 working days. You will also be eligible for viewing two groups of trading signals and will receive personalized assistance in the form of one to one access with an Account Manager.

• Empire VIP: A deposit of $30,000 + will grant you access to the Empire VIP Account. If you are able to open EmpireOption’s most premium account, the rewards truly are worthy of its VIP namesake. This account places you in a select group of clients that have access to every aspect of the platform’s services. With unlimited withdrawals, a team of financial analysts at your disposal, direct consultation services and a free subscription to the Financial Times.

TraderAssets Tip: Ask and ye shall receive. EmpireOption’s bonuses are upon request only. In order to get the bonus when you make your initial deposit, you must communicate your intentions with support prior to making a deposit. Without this, you will not be eligible for a deposit bonus.

Banking Options

EmpireOption offers an extensive list of trusted payment methods for withdrawals and deposits. Payments made through major debit and credit cards, including AMEX are accepted. In addition, alternative e-wallet and global payment options are also available such as Neteller, Skrill, Inpay and CX Pay.

Deposits

EmpireOption accepts deposits in USD, GBP, EUR. These can be made by using the major debit and credit cards, such as AMEX, along with e-wallets Skrill, Payza and Neteller. Alternatively you can set up a bank transfer and deposit directly into your trading account.

Withdrawals

As you might have noticed from our breakdown of the EmpireOption accounts, the withdrawal amounts and timescale vary. Clients trading with the platform can withdraw money by going to the ‘Cash Out’ section of the menu in their profile, here you can enter your request amount and await confirmation. From here approval, fees and waiting time is dependent on your account type.

At the smaller end of the scale, the Micro Account is a $100 – $500 withdrawal amount at a cost of 30 USD/EUR per time and an average wait of 10 working days. The more popular Classic Account lifts the maximum to $2000 dollars, with one free withdrawal per month, a reduced fee of 25 USD/EUR per withdrawal thereafter and a waiting time of 7 working days. As the accounts become more prestigious so too does the maximum withdrawal amount and in correlation, the waiting time and fees lower. Eventually at the Preferential Account sees a $1 minimum withdrawal, 3 days waiting time and a max fee of 10 USD/EUR per transaction.

Upon withdrawal, your funds will be returned to the source of your deposit.

TradersAsset Tip: Ensure you have provided verified your account with the relevant documentation when first depositing. This will prevent issues further down the line with regards to withdrawal delays or cancellations.

Support

As stated throughout the review, EmpireOption works hard to provide a strong support system for their clients. Though customised for each level of account, they have ensured that all level of traders have access to the online live chat feature, toll free customer service lines (in Spain, Chile, Colombia, Mexico, Peru, Venezuala, Brasil, USA and France), direct email and personal account executives.

As a top competitor in the Latin American binary options market, EmpireOptions can provide this support in French, Spanish, Portuguese, as well as English. Though we only tested them in the UK, their customer service representatives seem keen to provide due care and advice throughout the day.

The broker’s Training section is designed to provide a substantial library of resources for all level of traders. E-books, seminars and videos can be found in an open library. With the more premium accounts, the educational materials increase along with further trading support and personalised classes.

Why EmpireOption?

EmpireOption presents itself as a well-established and trustworthy binary options broker.

The professional background of its founders lends itself to the diverse support network it has so carefully instilled on the platform. An abundance of knowledge and educational materials is within every users grasp, progressing with each account level.

The diversity of languages available by their customer service representatives has ensured this platform is compatible for users worldwide (with the exception of the Asian market). In addition to this, US traders are welcome.

EmpireOption has surpassed all requirements needed to move forward. We are proud to give them the “TradersAsset Approved Broker” status and recommend them highly to our traders.