Empire Option Review
Binary option trading is different from other types of online trading. For one, trading binary options is fast – sometimes very fast. Trades can be conducted in just one minute, or even thirty seconds! This fast pace allows for quick profits. Plus, as experienced investors know, fast paced binary trading can also be really fun.
Empire Option is a popular broker which places a lot of emphasis on fast trades. We took an in-depth look at Empire Option – here’s our full review:
Overview of Empire Option
Empire Option is located in Uruguay, and is one of the most popular brokers throughout South America and Spain. They have excellent customer service support in Spanish and Portuguese. (Support in English is also readily available.) The site, founded in 2010, is backed by Lubona Enterprises, who are based in the British Virgin Islands.
Empire Options offers several types of trades, but they promote their 30, 60 and 120 second trades over the others. In fact, speed is a common theme at Empire. FXEmpire ranked them as having the fastest loading time of any binary trading site. This is a major reason for their popularity among experienced investors.
Aside from the fast trades, they offer other standard trading options such as One Touch and Option Builder. They also offer a unique feature called Pro Trader. This gives traders a close-up look at each trade, which helps identify price trends.
Profit and Return Rates
The payouts at Empire Option are on the high side. In the Money rates are between 75% to 85%. For long term, OneTouch trades, payouts range from 250% to 680%. Out of the Money returns 15%. Empire Option also offers deposit bonuses up to 100%.
A demo trading account is available, too. Between the demo and the low minimums, you can really get a great sense of the site without making a large financial commitment. This makes the site a good choice for those who are still learning about binary option trading.
Overview of Assets and Expiry Times
Assets include over 100 stocks, 20 currency pairs (including Bitcoin), eight commodities and over 24 indices. Asset availability depends on which markets are open throughout the day. No matter when we visited the site during the week, we found plenty of interesting markets to choose from.
Sixty second trades are the most popular options on the site, followed 30 and 120 seconds. Longer expiry times are also available, too, such as end of week, end of month and even end of year. While these are certainly great options for many investors, they’re not promoted very heavily on the site. We’re not sure why, since these longer expiry times can be a huge draw to new investors. Still, the important thing is that these times are available on the site – you just have to look around a bit.
Deposit and Withdrawal Info
The minimum deposit is $100. This is about half of what most firms require. Trades have a minimum of $5 and a maximum of $1000.
Withdrawals require a minimal amount of $200. For our first withdrawal, our order was processed in two days, and the money was in our account in six. Withdrawals can be made to most major credit cards, as well as wire transfers and other electronic services.
Additional Features / Bonuses Offered
Bonuses vary depending on your deposit, but average around 30%. The more you deposit, the larger the bonus. Empire Options runs frequent incentives, such as trading contests, where additional bonuses can be either earned or won.
Support was easy to reach. Empire Options offers a live chat, support tickets and even a U.S.-based phone number. We called on a Wednesday afternoon and reached a technician in about a half hour, and that person spoke fluent English and was very helpful.
Empire Option touts their short term trades, but they’re about more than just speed. The trading software is solid, the returns rates are high and both deposits and withdrawals worked smoothly. There are enough assets to ensure plenty of trading options through the week. While the fast trades of Empire Option may get most of the attention, the entire site will really be of interest to traders of all skill levels.