We have found out that Empire Option is not a reliable broker and decided to blacklist it. 7 Binary Options does NOT recommend trading with Empire Option.
We recommend choosing one of our top binary option brokers instead:
Try also Binary Option Robot if you are looking for automated binary trading.
In addition to being a favorite binary options trading platform for thousands of traders from various parts of the globe, the EmpireOption binary options broker is among the most diversified trading platforms in the industry. The broker is comparatively diversified when it comes to various payment methods support for customers on different local markets. Currently, traders in binary options within various markets prefer using the locally available payment processing methods to deposit and withdraw funds into and out of their binary options trading accounts. In a bid to offer more reliable and readily available services for traders in different locations, the company has diversified its list of accepted payment processing methods. One of the main benefits associated with using a local finds processing methods is that it attracts a reasonable amount of fees as compared to the conventional deposit and withdrawal methods, such as Bank Wire. Although the EmpireOption broker supports an array of online money processing methods, it is rather unfortunate that it does not support PayPal transactions.
However, this should not be a limiting factor to you trading in binary options on this platform. This is because the broker supports an array of other payment processing methods that allow traders to deposit and withdraw funds easily, conveniently and within a reasonable amount of time. This is the reason why many traders on this platform are satisfied with the banking services on offer by the broker. As a matter of fact, an increasing number of binary options brokers today are avoiding PayPal as a method of withdrawing and depositing money into and out of traders’ accounts. As it is, PayPal is charging high fees for users to receive and sent money. As such brokers are avoiding it in order to keep such transactions by traders on their binary options platforms free or to allow the broker to charge the lowest possible fees for such transactions. This, in turn, allows the traders to save more money while transacting on such platforms.
Although you will not be able to deposit or withdraw funds into or out of EmpireOption trading accounts, the company allows traders to carry out such transactions using an array of supported payment processing methods such as bank transfers, credit cards and an array of net wallets. This leaves traders with more payment processing options into and out of their accounts, despite the fact that the broker does not support PayPal as a payment processor into and out of traders’ accounts on their platform. The majority of traders on this platform can attest to the fact that using the various net wallets supported by this broker is more convenient than using PayPal. Some of the commonly used net wallets by the binary options traders on this platform include Neteller and Skrill/ MoneyBookers.
If you have ever used these online payment processing methods, you already understand how easy, fast and convenient it can be to use them to withdraw and deposit money into and out of your EmpireOption binary options trading account. Although handling such transactions through credit cars may be a bit complicated for some traders, credit cards are another preferred method of processing money into and out of EmpireOption accounts by traders on this platform. The supported credit cards by this platform include MasterCard, American Express and Visa cards.
Additionally, the broker also supports an array of local e-wallets for various localities. For instance, binary options traders from Brazil using the EmpireOption platform can process their money via Boleto Bancario. For traders from Argentina, Brazil, Chile and Mexico using this binary options trading platform, Dinero Mail is an ideal payment processing method that is supported by the broker. With such a vast array of payment processing methods, traders on this binary options trading platform barely realize that the PayPal deposit and withdrawal option is missing.
Are There Complaints About The Broker By Traders?
Prior to joining any online binary options trading platform and using its platform to invest in binary options, it is highly advisable that you carry out extensive research on the broker. This will help you avoid the numerous scam brokers in this industry. One of the many aspects of a broker that you need to look about a broker is what the binary options traders on its platform are saying about its services. If there are genuine negative reviews or complaints about the company by traders who have used the platform in the past, it would be safe to avoid the broker in question. In this regard, we have done an extensive research on this broker and can confirm that the EmpireOption binary options trading platform is yet to receive any complaints from its customers.
Being regulated does not necessarily imply that a broker is offering satisfactory and quality services for the traders on its platform. This is why we tale time to investigate and review some of the well renowned brokers in the industry. The fact that the EmpireOption broker does not have any complaints from the side of its customers is one of the reasons why we have included it in the 7binaryoptions list of trusted binary options brokers. Working with a broker that has a proven track record gives you peace of mind while trading in binary options because you are sure that your money is safe with the broker. As we attempt to shed light onto the legitimate and reliable brokers for our readers to invest in, we have come across an array of complaints by traders on various other online binary options trading platform. The vast majority of such complaints touch on the withdrawal and deposit processes supported by the company in question. Regardless of the liquidity and associate risk of investing in the financial markets through ant given broker, you have to invest with a broker that offers seamless, fast and convenient banking services. One such broker is the EmpireOption binary options broker.
Owing to the risk of losses associated with trading in binary options, you will come across an array of complaints about legitimate brokers, simply because the traders did not use appropriate trading strategy or the trader lost all his or her open positions due to lack of knowledge in trading binary options. This is why traders considering investing in binary options through any broker should know how to differentiate between legitimate complaints and those that are not. Having dealt with numerous binary options trading platforms, the scam brokers tend to breach customer protection by not offering transparent binary options services. For instance, failure by the broker to process a withdrawal request, by a trader on its platform, within the stipulated timeframe is a serious breach of customer protection. Such complaints about online binary options brokers tend to be legitimate and are indicators that the broker is not reliable.
At 7binary options, we only list brokers that we have tested and found to be reliable, legitimate and offer quality services for traders from various parts of the world. This is to say that if you come across any complaints about the EmpireOption broker, it is not legitimate. In out attempt to help out binary options traders make the right broker choices, we have investigated all the aspects of this broker and have found them satisfactory for traders from various parts of the globe. Again, there has been no complaint about this broker by its users on our website. However, if this changes in the future, we will definitely let you know through our website, as we have done with other brokers in the past.
Is EmpireOption And Legal Legit?
Being one of the well renowned binary options brokers in the world today, many binary options traders are interested in knowing whether the EmpireOption binary options platform is actually legal and legitimate. Basically, the EmpireOption binary options trading platform has been operational for a while now. Over the period that this company has been in business the traders on its platform have confirmed receiving high quality and transparent services. According to the experts at 7binary options, who researched on the broker, the platform is actually legal. However, EmpireOption binary options broker is regulated. The main reason why this broker is not currently regulated is because it is focused on offering quality binary options services for traders from all parts of the world, especially the binary options traders from the USA. Being an unregulated broker, EmpireOption is capable of accepting traders from any part of the world, including the US-based binary options traders.
The thousands of trader who have ever used the EmpireOption binary options trading platform can attest to the fact that the broker is indeed legal. The high success rate associated with this broker may be attributed to the high quality, practical and satisfactory services it offers for its clients, regardless of their geographical location. This being the case, the EmpireOption broker does not need to be regulated by any binary options regulatory body for it to prove to the world that it is a reliable and in fact one of the best binary options trading platforms in this industry. It is also the same reason why the broker has been a major competition for some of the oldest and well renowned binary options brokers in the industry, even the ones that are regulated by various regulatory bodies.
In a bid to diversify their investments in the binary options industry, traders from various parts of the globe are constantly looking for good brokers to invest with. At 7binary options, we have always been a reliable and authoritative source of factual and up-to-date information regarding various binary options brokers. We have also tried and tested the services on offer on the EmpireOption binary options platform and found them to be satisfactory. We are also convinced that this broker is legal. As opposed to other brokers in the industry that tend to ‘lock’ traders’ funds on their accounts, the EmpireOption broker offers bonus terms and conditions that are fair for the traders on its binary options trading platform. According to the many of our readers, we have referred to this broker, the company is reliable and highly competitive in the industry, additionally, the terms and conditions EmpireOption binary options trading platform is compliant with good business practices.
Currently, the EmpireOption binary options trading platform is not registered nor regulated. However, this should not deter you from investing with this broker and benefiting from the good features and tools it offers. We do not know what then company is planning, with regards to being regulated by any of the regulating bodies in the region. However, we are confident that the company is legitimate and legal and offers some of the best binary options services in the industry.
Is EmpireOption a Scam?
The binary options trading industry today has many new and old brokers like Banc de Binary, IQoption, Porter Finance, Binary Option Robot and 24option. The currently existing legitimate binary options brokers in this industry are having a hard time marketing their services and competitive features to potential customers. This is why it is common for brokers in this market to start off well and die off as time goes by. One of the things that make many binary options platforms to lack traders of poor marketing strategies as well as customer complaints that discourage potential customers from joining the platform in question. Since its introduction into the binary options industry in the year 2011, the EmpireOption binary options platform has continued to be one of the best binary options trading platforms accepting traders from all parts of the world. This remarkable success by the company is partly dues to the lack of complaints by the thousands of traders using this platform, regarding the features, tools, assets and services on offer by the broker.
Being in the binary options industry for this period and enjoying the popularity that the EmpireOption binary options broker enjoys for this entire period is not easy. It is a clear indicator of the quality services and outstanding support features, as well as an assortment of trading assets and beneficial trading tools. In this regard, the company has received nothing, but positive comments and reviews by the traders on its platform. In turn, this has enhanced the marketing efforts by the broker to attract both beginners and the experience binary options traders to its trading platform. From the success rate acquired by the company over the period it has been operational, you can see that the company is not a scam.
While there may be rumors on the broker being a scam, we have carried an extensive research in this regard and found out that such claims are both false and unfounded. While investigating this broker, we did not come across any legitimate complaint touching on the services offered by the EmpireOption platform. As such, we have listed the brokers in our list of trusted and reliable brokers. We are also encouraging beginners as well as experienced binary options traders to signup with and invest with the EmpireOption binary options platform. In addition to researching on brokers before listing them on our website, we also follow up with the listed brokers to ensure that they offer quality services. If we have proved that a broker that is listed in our list of trusted brokers has been involved in a fraud activity, we blacklist it and communicate the same to our readers.
For the period we have been observing the EmpireOption broker, we have not received ant repost on ant scam activity taking place on the platform. As such, the broker is still listed on out list of recommended online brokers. With the ever increasing number of scams in the binary options market, it is wise to rely on the factual and accurate information provided by such sources as 7binaryoptions. The few complaints, about the EmpireOption binary options platform, that you may come across online are not legitimate and are just aimed at ruining the reputation of this broker. The platform is not regulated, but offers reliable and high quality services on their binary options platform for all traders, regardless of where they are situated.
Bearing in mind that there have been cases of regulated brokers taking part in fraud activities, it can be said that not all the regulated binary options brokers can actually deliver up to the expectations of traders in binary options. The EmpireOption broker is currently not regulated, but is one of the best platforms, with regards to transparent transactions, easy to use platform and array of trading assets available for traders. Additionally, the platform at EmpireOption also features an online binary trading educational centre. This feature specifically targets the inexperienced traders in binary options. By instilling trading skills and allowing beginners to nurture their trading skills, it can be said that this broker has the interests of its traders in mind. This being the case, EmpireOption is not a scam website, but rather a leading provider of binary options brokerage services.
The trading Forum at EmpireOption
The EmpireOption binary options broker not only provides one of the best binary options trading platforms in the world, but also offers a platform, on which traders can voice their opinions. By getting what their customers have to say about their services, the company has been able to make a number of changes to its platform to meet the requirements of their clients. Occasionally, the broker also offers promotions and competitions on this online opinion platform to help alter the opinion of the binary options traders about the broker. Quality services and transparent transactions are some of the aspects that make a good binary options broker. To better the quality of services it provides, EmpireOption launched an online forum to collect views and opinions from their customers, regarding their binary options platform.
The broker is open to binary options traders from all parts of the world, including the USA. This being the case, their website has been translated into several languages. Additionally, the customer services on offer by the company are also availed in various languages. This way, traders can easily understand the terms and conditions offered by the company. Failure to read the terms and conditions by the company will result to losses while trading binary options on this platform. Now that the website has been translated into multiple languages, it should be easy for traders from various paces to read and understand the terms and conditions clearly. If you still need further clarification on the information provided on the broker website, you may get in touch with the supportive and professional customer support team at EmpireOption.
You will know that the complaint by various people online about any broker is not legitimate when the complainant does not provide any proof to back his or her claims. This is the cases with the few complaints you may come across about this broker. The complainants are not providing any proof of misconduct by EmpireOption, but only saying things to tarnish the name of the broker. The forum provided by this broker also allows the traders to discuss various trading strategies; hence learn from each other and profit from trading binary options.
The Strategy Used By EmpireOption
For many traders in binary options today, the focus is not only in getting a good binary options trading platform to execute their trading activities. An increasing number of traders today are looking for a platform that will allow them to grow into professional binary options traders and continually profit from executing binary options trades. To achieve this, trades need to expand their knowledge and skills in the trade. The EmpireOption broker is helping its customers in this regard by offering an online academy, where traders can nurture their skills in binary options trading and learn the various trading strategies they can use to profit form the trade.
The training strategy employed by this company is one of the most effective in the industry. The company offers traders on this platform eBooks, videos and an array of other educational materials to learn how the trade works, hence help them make profits continually trading binary options. Additionally, traders on this platform may also get one-on-one sessions with professionals from EmpireOption and seminar to further enhance their trading skills. The online binary options trading academy offered by this company is aimed at helping traders learn how to read market signals, analyze the price movements of various assets and make appropriate predictions on the price movement.
The company also offers traders a simulator feature. This feature allows the EmpireOption binary options traders to test the various strategies they learn from the academy without having to risk their money. Throughout this training process, traders can also get assistance from the company professionals on any issue they may be having. The fact that this company has a strategy in place to help traders grow with it makes it a preferred broker for traders from various locations, across the world.
Comparing EmpireOption to OptionBit
A good number of our readers are constantly seeking clarification on how the EmpireOption compares to the OptionBit article. The binary options trading market is a bit complicated and has a lot to offer. This being the case, it can be challenging for traders to draw deductions on how various brokers compare to each other. Although we may not be in a position to cover all the aspects of the two brokers in question, we will try to elaborate the most important aspects and let you know how the two compare to each other on that basis.
Among the aspects that are attracting traders to various brokers is the bonuses offered by such brokers. In this regard, traders on the EmpireOption platform have an opportunity to get unlimited bonuses, which are offered in percentages. With OptionBit the amount of bonus that each trader can get on the platform is capped at $500. Although EmpireOption offers more bonuses than OptionBit, the latter happens to have a lower turnover requirement for the bonuses offered, of 15x the bonus.
- Minimum Initial Deposit
The other aspect that is important to traders on the various trading platforms is the minimum initial deposit requirement by the broker. With OptionBit, the minimum amount that a trader can deposit is $200. With this initial deposit, traders can open up to 20 trades, each priced at $10. Well, this is above average, considering the current market situation. Although the initial deposit at EmpireOption is also $200, the minimum amount that a trader can invest in any position is $25. As such, traders on the EmpireOption can only open up to eight positions before depleting their initial deposit.
- The Trading Platform
The trading platform on offer by any broker is the window that allows traders to open and close positions in the financial market. The platform used by EmpireOption is supported by Radiologic while the one used by EmpireOption is supported by SpotOption. Comparing these two options, the SpotOption is the most popular option. Additionally, the trading platforms supported by SpotOption happen to be more user-friendly and efficient, as compared to the ones supported by Tradologic.
All in all, EmpireOption is in a better position to offer its customers better baseline services. However, claiming that EmpireOption is the best broker in the industry may be a biased claim. So we only give you the facts and allow you to choose your preferred options.
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References and Further Reading:
1. LET THE SOUND OF THE CROWD HELP YOU CREATE A SUCCESSFUL TRADING PLAN Praise for Carl Gyllenram and Trading with Crowd Psychology” Investing (U Break, I Benson, M Bork, D Break – 2009)
2. Decision Support System for Foreign Exchange Trading (H Akhavan – 2012)
3. Forex trading prediction using linear regression line, artificial neural network and dynamic time warping algorithms (LCO Tiong, DCL Ngo, Y Lee – 2013)
4. Integrating Grid Template Patterns and Multiple Committees of Neural Networks in Forex Market (N Goumatianos, I Christou, P Lindgren – 2015)
5. Bypassing the Debt Trap? Indian Perspective (S Sabade – 2015)
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