EmpireOption
| Minimum deposit | 200 GBP |
| Minimum trade | 5 GBP |
| Maximum trade | 1,000 GBP |
| Mobile App available? | Yes, for Android and iOS |
| Demo Account available? | Only from Empire+ Account level and up |
| Signal Service available? | Only from Empire+ Account level and up |
At EmpireOption, you can buy binary options where the underlyings are commodities, stocks, indices or currency pairs. The largest category of them all is the one for indices, but EmpireOption is of interest for commodity binary options traders as well even if that selection is more limited.
Why are commodity binary option traders using EmpireOption? Here are a few reasons:
- Social trading available. You can allow other traders to follow your trades, and you can also follow the trades of others.
- The trading platform layout can be amended to display multiple trading windows (up to 16 trading boxes).
- Good tools for technical analysis
The trading platform
EmpireOptions trading platform is especially popular among experienced traders that have a lo of things going on at the same time. The layout defaults to two large windows initially, but can be amended to display multiple trading windows. You can select table-style display, where each asset is displayed in a row, or go for a multiple view where up to 16 trading boxes are shown simultaneously. Of course, if you are a beginner, you should probably opt for a much more simple style and focus on one trade at the time to avoid confusion and mix-ups.
To make a trade, start by selecting trade type and asset category, e.g. binary options based on commodities. A drop down list within the actual trading area can then be utilized to make a pick. Now, adjust expiry time and trade size. The potential payout and payout percentage is shown below the trade size.
Trading buttons are located to the right of the price graph, with the Call and Put buttons being situated adjacent to the relevant arrows. The strike price is shown between these two buttons.
Double-check your selections in the trade approval window before you confirm your purchase.
Demo Account
Please note that Demo Account is only available for clients that have already reached account level Empire +. The Demo Account can therefore not be used by prospective clients who wish to check out the trading platform. This is a big downside with EmpireOption.
Examples of available binary options available here
Higher/Lower
Will the price of the underlying be above a certain predetermined point when the binary option expires?
Pairs
How will to assets perform versus each other? The widest assortment of pairs at EmpireOption is found in the stock category, but commodity pairs and index pairs are also frequently available. This is a very interesting option for traders with a deep knowledge of how the price of different commodities tend to react to news and market changes, and sometimes also interact with each other.
One Touch
Will the price of the underlying reach a certain predetermined point at any time during the lifetime of the binary option?
Ladder
Ladders offer a series of price levels which can be traded in both directions. Ladders can be very handy when you need to profit from a violate market, because as the levels increase or decrease relative to the strike price, the payouts can become bigger if a large price movement is necessary in order for the trade to finish in the money.
Mobile App
You can trade at EmpireOption through the mobile ProTrader app. There is one app for Android devices and another one for Apple devices.
As a mobile trader, you get access to the same range of options and features as when you are trading in the browser-based platform. Earlier, some aspects of charting and analysis were missing from the mobile apps, but this has been fixed.
Banking
Empire Option accepts many different transaction methods, including many credit cards and e-wallets (e.g. Skrill and Neteller). You can also use wire transfer.
The minimum deposit is 200 GBP.
How quickly your withdrawal request is processed is chiefly determined by your account type. The higher up you get in the tier system, the quicker your requests are processed. Traders with a Micro Account sometimes have to wait up to 10 days to have their withdrawal request processed, while traders with an Empire VIP Account get their requests processed within 1 day.
The minimum withdrawal size will also depend on your account type. With a Micro Account, you can’t make withdrawals that are smaller than 200 GBP. With an Empire VIP Account, you can withdraw as little as 1 GBP if you want to.
Other features
- Social Trading. Follow the trades of other traders and let other traders follow your trades. This feature is completely voluntary – you don’t have to let other traders see your trades if you don’t want to.
- Tools for technical analysis
- A market simulator suitable for testing your technical analysis. (Available for Classic Accounts and up.)
- Educational material, including e-books and webinars. One-on-one training sessions are also available for certain account levels.
About EmpireOption
EmpireOption is based in Montevideo, Uruguay in South America.