EmpireOption is not a new broker. They have been around for several years and have established themselves as a leader in the binary options world. They are a unique SpotOption white label, a term that may seem contradictory at first. They stand out from the rest of the field because of their own financial system. This fact allows them to offer great trading, more flexibility and better deals than the average broker.
The Geek’s Review Of EmpireOption
EmpireOption is a unique SpotOption based broker. They have recently changed ownership and are now operated by Brighton Digital Services LTD in the UK. Company address is 11A Arcade House Temple Fortune, London, NW 117TL UK. They can be reached through live chat, email and multiple telephone hotlines in key locations around the world. EmpireOption has long been a recommended broker of mine due to the vast number of assets, incredibly versatile option expiry and their progressive account practices.
As a SpotOption based brokerage I can say that they make full use of the platform, trading includes standard call/put options with expiry ranging from 60 seconds to 6 months. The asset list is also quite extensive so there should be no trouble finding something to trade. Included are over a dozen indices, more than 50 stocks, nearly 3 dozen forex pairs and 6 commodities. Payouts average near 80% and run in the range of 75% to 85% for basic trading.
Exotic options are also available. Included are Pairs, One Touch, Ladder, Forex and iFollow. Pairs pits the performance of two assets, non-forex, against each other. Examples are Microsoft/Google or Gold/Oil, they trade like forex pairs, you choose which one will out perform the other. One Touch options are traded over the weekend or when the market is closed. They require the options to touch a target price only one time and pay higher returns, over 125% in some cases. Ladder Options are similar to above/below binary trading. You choose if price will close above or below a set strike price, chosen from a list or ladder of strikes. These can pay 1000% or more in some cases, typical return on ITM trades is in the range of 300%. An extra bonus for traders is the forex trading. This feature allows simple spot forex trading which makes it one of the most versatile platforms available to traders.
Banking With EmpireOptions
Banking with EmpireOptions is not what you typically find at a binary options broker. Deposit is the same; credit card, wire and Neteller is accepted. Withdrawal is the same too, back to the original source with account and ID verification required. Money is safely held in segregated accounts, just like with a CySEC broker, so no worry there. The difference is how they treat your account. Most brokers require you to deposit your way to VIP status. A minimum deposit gets minimum status, if you want to upgrade in order to utilize signals, education or unlock other features you have to add more money. Not so with EmpireOption, they let you trade your way to VIP status. This means that you can make a minimum (Micro) or Classic level deposit and build up your account in order to receive the benefits of Plus, Preferred or VIP.
You might ask why it matters and I will tell you, for enhanced benefits. EmpireOption accounts come with real benefits that will attract serious traders. For one, there are withdrawal minimums and maximums; accounts with low balances can only withdraw small amounts, accounts with larger balances can withdraw larger amounts. Another is fee structure; the first withdrawal per month is free, each additional comes with a fee on a declining scale. Micro Accounts pay $30 per extra withdrawal with that declining by level until VIP status which pays $0 for all withdrawals. The best feature I think is the speed at which withdrawals process; Micro accounts may take up to 10 days, standard, while higher level accounts have quicker withdrawals on a scale that declines to 7 days, 5 days, 3 days and finally same day withdrawals for the highest level, VIP.
There are other benefits for higher level accounts too. These include video courses, signals, the Simulator and live seminars. Bonuses are available, up to 100%, depending on your account with other offers available from time to time. These bonuses are not automatic, you must request them, and require account verification before they are credited. There is also a 30X bonus trade minimum that must be met before any withdrawals can be made.
EmpireOption Binary Option Copy Trading
EmpireOption has iFollow binary options social trading. This is the copy trading platform that comes with SpotOption although not all brokers have it. It is powered by the same technology that drives ZuluTrade, one of the top sources of forex copy trading. The platform ranks all traders on the EmpireOption trading site and list them on a leader board. Traders are ranked by success rates and can be filtered by asset. Copiers can choose several traders to follow and manage the portfolio with industry leading features. Management tools include a max trade size, a max number of trades to follow, a max amount of loss allowed and the amount of time each trader is followed. In my opinion it is one of the top three copy platforms, offered by a top rated broker.