EmpireOption is a binary options brand based in Montevideo, Uruguay. They are regulated domestically and also apply with CySec in Europe (and related MiFID compliance). They were voted Best Binary broker in 2013 by FX Magazine. The firm wants to expand their operations in Europe and bring a flexible platform and customizable traders to new markets. There are different types of accounts on offer, which provide a different set of benefits – each level offers more tools, such as reduced fees, signaling services, access to simulator accounts and faster withdrawals. They range from ‘micro’ accounts, up to ‘Empire VIP’. The type of account is determined by the size of the initial deposit.

  • Demo Account – Simulator available at certain account levels (Empire + and above)
  • Minimum Deposit – £200
  • Minimum trade – £5
  • Signal service – Yes, from Empire + Account level and above
  • Bonus Details – 100% Exclusive .
  • Mobile App – Yes. Android and iOS are fulfilled.

 

 

Trading Platform

EmpireOption provides a nice trading platform, which gives all the rounds, but also has one or two ‘extras’ that traders may find useful. The layout can be modified to display multiple trading windows, but defaults to two large windows initially. It can be changed to a table style, with each asset displayed consecutively, or a ‘multiple’ view displaying up to sixteen trading boxes. Finally, there’s a view with just one big asset window – nice and simple, but lots of detail. Each view will suit a different trading style, but flexibility is good to have.

Using the trading window is the same experience for rival broker platforms. The type of choice is the first decision. EmpireOption has a great selection of trade types (seven, plus the iFollow feature) – each of which is discussed in more detail below. Traders can then select the assets they are interested in. The list of assets available on EmpireOption is comprehensive with specific strength indices. Traders first select an asset category – trading areas default to the most traded ‘hot assets’, but commodities, shares, currencies and indices can all be selected. The drop-down list in the trading area can actually be used to select a specific asset. In addition to the asset selection, is the expiration time and the trade volume (minimum trade with Empire is only £5).

Below is the price graph for the selected asset. It can be switched between the default and candlestick view, and the time frame can also be changed as needed. Along the top is the ‘  trader trader  ‘ bar, which depicts the direction the trader is leaning. To the right of the price graph is the trade button. The potential payout is displayed below the amount and will automatically update if the field amount is amended. Below that is the payout percentage – made very clear. Here are the amounts covered, and this will show where it applies. Then the trade button is displayed. Just like the others, they clearly identify,  Call  and  Put buttons next to the relevant arrow, and the strike price is between them – this color change reflects the latest price change, up or down.

Choosing whether to trade button will bring up the  trade agreement window ‘, which is an opportunity for traders to check trade details. Confirming the approval will trigger the trade and will then appear in the ‘Open position’ window of the trading area. The ‘Open Positions / Expires’ window sits below the trading window and allows the trader to track all open and closed trades. These are grouped into trade types with all relevant details for each trade listed below. In this area traders can use additional tools such as ‘double up’ to increase investment in options, or ‘Rollover’ to extend the trade. Traders can also ‘Sell’ their position from here or open a chart to evaluate their position.

Another feature available in the trading area is a calculator. This appears when the platform displays two trading windows. It allows traders to run three forms of technical analysis on the current price graph, to see what kind of trades the analysis suggests. Traders can choose RSI, Moving average or Bollinger band indicators to help them make calls.

Trader’s choice

EmpireOption offers options on forex, commodities, stocks and indices. Their asset list is excellent. The index is the most comprehensive list. Coupled with the largest selection of trades of any broker, this means that traders who choose EmpireOption will not be left out. They offer seven types of options: Binary Options – Basic binary options. Will the asset increase in value, or fall? Pairs – How will the two assets stack up against each other? Generally pairs consist of two related stocks (eg Apple v Google), but can also be set up against commodities or indices. Long-term – Similar to traditional binary options, but with a longer-term expiration time, usually weeks or months. Short Term – As the name suggests, very short term binary options with very short expiration time. EmpireOption fulfills 30 second, 60 second and 120 second expirations.

One Touch – Does the asset price ‘touch’ a certain value at least once before the time expires? Ladder – Ladders offer a series of price levels that can be traded in both directions. Because the level rises or falls relative to the strike price, the payout can be larger if a large price movement is required for the trade to be completed in the money. Especially useful during volatile markets. Forex – This is an option that very few brokers offer, so it’s a great addition to EmpireOption. It allows traders to trade currency pairs ‘per pip’, setting stop losses and target prices. It is an innovation that brings traders closer to pure Forex trading than simpler forms of binary options.

Mobile App

EmpireOption provides a high-quality, high-quality mobile trading platform, ProTrader  , compatible with android (2.3.3 and higher) and apple devices. It allows traders to trade various options available on the full website, as well as a full list of assets. The charts have been expanded on the app and full analysis is now available there as well. The latest version also sees assets listed alphabetically – showing the firm’s commitment to the mobile platform, as they have fixed that small but frustrating trader’s frustration. EmpireOption  ProTrader app also provides full access to all open and expired positions, and certain account functions, such as deposits. The trading platform is actually easy to use, and the layout is also very good, making quick trading very easy. It is a solid addition to the EmpireOption offering.

Payment

The payouts at EmpireOption are excellent. The most traded assets see payouts of around 80%. As always, payouts will vary depending on the expiration time and asset selected. Higher payouts are also available with different trading options. For example, ladder options will offer significant payouts for larger price steps. Forex also works ‘per pip’, so can produce higher payouts if desired.

Withdrawal and deposit options

Deposits can be made via credit card (all major cards accepted) as well as wire transfers and online transaction services such as Skrill and Neteller. The minimum deposit is £ 200 – The initial deposit will determine which account type the trader moves into. £200 entry profit to the ‘  Micro  ‘ account, while a deposit of £30,000 means the ‘  Empire VIP’ account  . See the range of accounts and related benefits in the table; Withdrawals are also handled based on account type. For example, Micro accounts   will have a withdrawal deadline of 10 days –  VIP VIP account holders will make their withdrawal processed within 1 day. Empire knows withdrawals are usually a source of frustration with their traders and brokers, and offers higher account types with better terms. This may be an issue that some smaller small business owners find irritating. The size of the minimum withdrawal is also determined by the type of account, from £ 200 for a  Micro account  , to £ 1 for a  VIP VIP account  . Withdrawals are usually available through the same method as deposits.

Other features

EmpireOption offers their customers the following features and benefits:

  • Calculator – Technical analysis tool
  • Range of Educational Materials – Includes seminars, books, financial reports and one to one training
  • Market Simulator – To complete technical analysis. Available to Classic account holders and above.
  • Social Trading – Empire has revamped iFollow to allow traders to follow other traders’ trades. Empire funds can also be used through the ZuluTrade platform, for the same purpose.
  • Trading Tools –  Double Up  and  Rollover  give traders additional abilities to increase profits and reduce losses.