The broker is based on SpotOption, but unlike other SpotOption brands has retained control of its own brand. This broker is based in Montevideo, Uruguay and is regulated there as a legitimate business under the country’s commerce code. Empire has recently changed many things about its operations that have increased its value to binary traders, especially those located in the U.S.
The most important thing to note is the way it handles trader accounts. There is a progressive system that rewards traders for building account balances with things like immediate, free withdrawal.
EmpireOption don’t charge any fees or commissions from traders when they first deposit or purchase options.
Withdrawals from the Micro Account are charged with a 30$ fee for all methods with that fee decreasing as your account grows. EmpireOption support may not be the best. The effective return is close to average with a range of 70%-82% for In-The-Money.
The Out-of-Money refund is also below average, stretches from 0-5%.
EmpireOption was launched in late 2010 by Riverjor SA, located in Montevideo, Uruguay at 1294 Luis Bonavita, WTC. Processing is provided by Brighton Digital Services Ltd with registered address 11A, Arcade House, Temple Fortune, London, NW11 7TL, United Kingdom. U.S.
EmpireOption are a 100% web based SpotOption platform with no need for any software to be downloaded. It’s no secret new binary options brokers are opening to business almost every month since 2010, but some of those brokers are quite shady and therefore suspect of binary options scam (a big problem with white label brokers). The difference with this broker is that it is not a white label like the others. Most SpotOption brokers have less than 60% control of their websites and are tied into the SpotOption cashier system. Not EmpireOption.
This broker has remained independent and in control of their own business, because it is an independent business, not a spin off. Empire provides its own banking and cashier services, among other advantages. Many brokers are using a prepared trading platform as their trading system and change a little their web site design to distinguish themselves from other binary options brokers, but they are actually more or less the same, or just a copy of a successful binary options broker. It took me only a quick glance at Empire Option to understand that EmpireOption is trying to do things differently and they don’t want to be “just another” SpotOption brand.
Their website is well structured and the entire experience is pleasant because you don’t have to spend time to search for information which is scattered all over the place. Everything is where it’s supposed to be. And the more I learned the more I liked it. The trading platform is very user friendly, there are many trading tools and options and the payouts are good. The whole trading experience and graphic design are top graded, similarly to all SpotOption based brokers, but with the new Spot2 platform they have gone above what the average broker is doing. Empire uses the platform to its full potential, offering one of the most complete lists of assets around and make for some of the best binary options trading when coupled with the available expiries.
One small but important step before depositing into any broker is checking a few search engines such as Google for any broker complaints. It’s very simple. The thing is that all brokers have complaints on the internet – if one doesn’t, something fishy is going on – and Empire Option is no exception but considering that they are in business since 2010, the amount of complaints is very few and during the last couple of years they are even fewer so it’s fair to say this company was indeed improved in terms of client’s support.
Tools Empire Option offers
We checked out the withdrawal policy at EmpireOption and found some interesting results. Withdrawal is based on account tier. The lowest account has a minimum of $200, maximum of $500 and requires 20 trades in order to qualify for withdrawal. The highest tier, VIP, requires only 5 trades and has no minimums, maximums or cost. The middle tier, Plus, has a ten trade requirement, a minimum withdrawal of $100 and a max of $3500. Micro accounts take 10 working days to process, Plus accounts take 5 working days to process and the best, the VIP, are immediately processed and sent to your receiving account. For withdrawals of over USD 1000, EmpireOption is entitled to make the transaction via wire transfer.
The bonus at EmpireOption is average, around 30% for any deposit. This amount grows as your account grows. There also may be additional incentives from time to time (currently they are running a trading contest with accumulated 70K USD of prizes). The standard trading minimum volume is 30 times bonus. In order to make any withdrawal of any kind you must meet the minimum trade volume.