There has been a huge amount of online broker systems recently, some of them are available only for a while and then get lost in the stream of newcomers, but several are lucky to stay afloat for many years as our example – empire option. It is a South American company, having spread way out of their area and became quite successful, but recently they are getting many accusations of the cheating. Has this famous software really turned into SCAM or it is just groundless fears? Let’s try to figure it out.
The one thing that alarms the most is their lack of regulation. We could have left it unnoticed if it had been a company just on the starting line of development, but in our case, it has a long way of gaining experience, and they definitely could allocate some time and a small budget to become registered or regulated. However, they do claim on their website to be regulated by McAfee SECURE, which is definitely a lie, so we have already found one big drawback; unfortunately, we are going to keep this up.
Possible options of your account
When you make your first steps in this software, the minimum deposit is only 200 dollars, which is a small sum, comparing to other websites. However, to get Market Signals in Plus Account, helping you to trade better, you should invest over 1000 dollars, already a quite significant sum. Having looked through various sites, we came across numerous negative comments, containing complaints of withdrawal rules. As they confirm, you have to make about 20 trades with the minimum 200 dollars to get have an opportunity of withdrawal. But practically this already strict condition is not implemented and most clients could not get their money back. Obviously, the right of getting withdrawals is so important for beginners, because they can easily change their mind and quit such activity, but in our case, they will lose the deposit.
Moreover, you should really work hard to find some useful information on their site, it is well hidden, and you might miss even the fact about those 20 trades above, so here is their next huge disadvantage. To be unaware of clear rules and conditions, when it comes to money, investment of your own money is apparently frustrating and even dangerous. So, if we see those violations, then there is clearly something to hide, do not fall for such a SCAM.
A sudden disappearance
When we face problems and difficulties, we want to get professional advice and timely assistance, but we have to upset you a little. As soon as you start asking inconvenient questions or demanding the money and explanation, any connection with the Empire Option representatives will be lost, they will not answer the phone or your emails, or worse the responses will be rude and offensive, many people have already experienced that and ended up with nothing.
In conclusion, we can claim the Empire Option system to be a total SCAM, despite their long history. Their attitude to the customers and constant irresponsibility are pointing to their insolvency as fair broker software.