Many people are opting for online trading and site reviews such as the EmpireOption review, play a significant role in helping investors identify the best stock brokers in the market. Reading them helps protect from the scam brokers out there with the primary aim of defrauding them of their hard earned money. EmpireOption is an online brokerage firm that was established in the late 201. It is operated by Riverjor SA, which is located in Montevideo, Uruguay. Their offices are at 1924 Luis Bonavita, WTC.
Their payment processor is Brighton Digital Services Ltd, and their registered address is 11A, Arcade House, Temple Fortune, London, NW11 7TL, United Kingdom. The site is fully automated which makes it stand out from other online Brocker sites, with an easy to use interface which also includes free trading signals and a live news bar once you have deposited money into your account. However, investors do not have access to EmpireOption Demo account, option clients new to online trading can use to learn and try out various trading options. Instead, they choose to offer clients real money accounts with a trade simulator to try out different trading strategies.
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Is EmpireOption A Scam? Is EmpireOption Regulated?
Opening an account with this broker is quite easy. You can open your account in 5 different languages according to whatever your preference is. EmpireOption supports two main currencies which include Euros and Dollars. When you register with this platform, you will have full access to the support team which will guide you as you learn binary trading. It uses the Spot Option trading platform like many online brokerage firms. They also offer bonuses to new clients named secure trades, but you can also opt out of it. The smallest account tier in this firm allows a minimum of $200 and goes up to a maximum of $500. Withdrawals at this site cost $30 each, but you have to trade at least 20 times, with the lowest trading amount of $25 per trade.
There is also a VIP account tier which requires a minimum balance of $30,000. This account does not have withdrawal charges, no minimum and maximum limits and needs only five trades to be eligible to withdraw money from your trading account. While researching about EmpireOption Scam, we found that there are numerous complaints against them. Most investors complain about their bonus which ties up clients money to the site as you are required to have a minimum trade turnover of up to 20 times. They are also not regulated, and this is a red flag as most stock brokers take regulation seriously and so should you.
Alternatives To EmpireOption
Even though EmpireOption presents a wonderfully designed trading platform, they are not regulated, and there are numerous complaints which should act as a deterrent to clients when they are searching for a trading company. Their withdrawals are also hectic, and they charge a maintenance fee on your credit card.
If you are searching for another online brokerage firm, you can check out our Libertex review. Traders can also use eToro which also offers an amazing platform which gives a safe and secure site to trade FX and CFDs. It also has a user-friendly platform which can be used by all types of traders including novice or veteran investors.