- Do not let your money go waste!
- Issues with different account types
- Founder Information and FAQ details missing
- Demo account missing
Are you looking for an intuitive and simple trading platform? Well, if that is the case, then you need to evaluate your chosen trading platform in detail. If you are about to select EmpireOption, then we are going to make things simple for you and give you a realistic picture about this trading platform.
The bad news is that EmpireOption is not licensed. This is the first red flag alert about this trading platform which you cannot ignore by any means.
Let us start with the evaluation of the different account types. Now, EmpireOption offers five different account types. This includes micro, classic, empire plus, preferential and empire VIP. Only the micro account is affordable. It requires a deposit of about $200. The rest of the account types need a deposit of more than $200.
You get access to trading books and seminars with EmpireOption. However, these features are not enough. The exclusive features like economic calendar and investment strategies are only available with account type other than a micro.
The biggest issue is that the micro account requires a withdrawal deadline of more than 10 days. The withdrawal deadline should not be more than 3 to 5 days. If you go for the micro account, then you can only get access to weekly reports, but as a trader, you need daily reports and cannot make compromises in this regard.
Another issue with the micro account is that you cannot withdraw more than $500 with this account so this is yet another setback.
Now, if you decide to go with classic or other expensive account types, you do get access to signals. However, there is no assurance whether these signals are reliable or not.
We searched in detail regarding the founder information, but we could not get hold of information related to the founder of EmpireOption. This made us quite skeptical about this platform.
Apart from this, the site does not mention whether they offer a demo account or not.
As a trader, you just cannot compromise on the presence of a demo account by any means. If you are not a registered user, then you will not have access to the FAQ section. An FAQ section is mandatory when you need an answer to the commonly asked questions, so this is yet another worrisome aspect about this platform.
We had a good look at the Facebook page of EmpireOption, but again we were in for some disappointment. The Facebook page is not available in English. If the platform wants the traders to benefit from the social media updates, then it is essential that the page should be available in English, but it is not the case here.
If you are new to binary option trading, then it is essential that you should make your trading decisions wisely. The truth is that there is no room for mistakes. If you go for a trading broker like EmpireOption, then your trading career is ruined for all times to come.