EmpireOption is owned by Lubona Enterprises Ltd, incorporated and based in the British Virgin Islands. EmpireOption is a SpotOption white-label partner broker.
Software & User Friendliness
EmpireOption uses the binary options white-label solution of SpotOption Ltd. Traders can therefore trade the following contract types on the EmpireOption platform.
a) 60 Seconds Option: The 60 seconds option was recently added to the EmpireOption trading platform, and features a 60second Up/Down trade.
b) OptionBuilder: The OptionBuilder enables traders to customize several aspects of the Up/Down trade. Parameters such as the expiry times and the investment amounts to be committed to the trade can be adjusted by the trader.
c) One Touch Option: The High Yield Touch option is available for the risk takers who can aim for a very high if the asset is able to touch an ambitious strike price. This is only for selected assets.
d) High/Low Option: On EmpireOption, traders can trade the classical Up/Down contract with expiries ranging from 15 minutes to a full day.
Asset Index
Assets that can be traded on the EmpireOption platform are:
a) Commodities: Gold, silver, platinum and light sweet crude.
b) Currencies: EURUSD, GBPUSD, USDJPY, GBPJPY, EURGBP, EURJPY, USDCAD, USDCHF, AUDUSD, EURTRY, USDTRY, USDBRL, USDEGP, USDZAR.
c) Indices: Dow, Nasdaq, S&P500, DAX, CAX, ISE30, MICEX10, RTS, MSM30, TADWUL, EGX30, DSM20, BOMBAY SE, HANG SENG, SSE180, KL FUTURES.
d) Stocks: Apple, Nike, Gazprom. BP, Google, Lukoil, Sberbank, Coca Cola, HSBC Holdings, Rolls Royce, BAE Systems, Reuters, TATA, Turkcell.
The minimum investment amount on EmpireOption is $10. The exact amount differs according to the type of account that the trader operates. There is more information about this below.
Security & Reliability
The regulatory status of EmpireOption is presently undetermined.
Bonuses and VIP Program
The following bonuses are available to traders using EmpireOption:
a) Account funding bonuses: All new traders are given an unspecified account opening bonus. Traders will need to speak to their account officers to get the exact figures.
b) Special Trading Bonuses: A special trading bonus of 100% of account size is up for grabs. This is for existing traders. Traders must contact the EmpireOption support desk to find out how to claim theirs.
c) There is a referral bonus of 50 units of the currency in which the account is held, for every new user referred to the EmpireOption platform.
Special Features
EmpireOption operates a multilingual trading platform that allows users to choose their preferred language before embarking on trading. This broker also offers 250 financial assets for trading, which is one of the highest in the industry.
Deposit and Withdrawal
There are three types of accounts that can be operated on EmpireOption. The account type determines the trading conditions to be encountered. A breakdown of the conditions attached to the three account types is given below:
a) Bronze account: Minimum deposit is $300 and maximum deposit is $1,999. Traders have no access to a demo account. Withdrawals cost $30, and traders must have traded 15 times in a month to qualify for a withdrawal. Minimum withdrawal amount is $100, and withdrawals are processed in 7 days.
b) Silver account: Minimum deposit is $2000 and maximum deposit is $9,999. Traders have access to a demo account as well as fundamental and technical analytical tools. Withdrawals cost $15, and traders must have traded 7 times in a month to qualify for a withdrawal. Minimum withdrawal amount is $100, and withdrawals are processed in 4 days.
c) Gold account: Minimum deposit is $10000. Traders have access to a demo account and several trading benefits. Withdrawals cost $10, and traders must have traded 5 times in a month to qualify for a withdrawal. Minimum withdrawal amount is $1, and withdrawals are processed in 2 days.
The following payment methods are accepted on EmpireOptions:
1) Credit card/debit card
2) Wire transfers
Traders are expected to use the same method for funding and withdrawals. Traders can operate their accounts in Euros and US Dollars. Traders cannot open several positions worth more than $1,500, and maximum investment amount in a single position is $1,000.
Traders will need to contact the support desk of EmpireOption to find out more about the conditions attached to the use of each payment method.
Support
Traders can access customer support on EmpireOption in the following ways:
1) Live chat
2) Email: This is by using the online form attached to the Contact Us page on the website of EmpireOption.
There are no phone or fax numbers available.
Our Opinion
EmpireOption still lags behind some of the brokers that utilize the same white-label platform that it uses. Apart from the live chat and online form, there is no other way to contact the broker. In addition, the broker is not very explicit about its payment methods and the conditions attached to it, and there is a lot of ambiguity in describing the true regulatory status of this company.
Some of these issues will make it hard for traders to commit their money to EmpireOption. Traders who want to use the SpotOption platform will definitely prefer to use other brokers such as IQ Option which are definitely better packaged and are very explicit as to what trader will encounter when using their platforms. EmpireOption has a lot of work to do if they are to compete favourably in the binary options marketplace with some of their competitors.