Tag Archives: broker


A New Empire On The Rise?

EmpireOption has begun to build what could be called a new binary options empire in South America.  This broker is very unique in several ways and is emerging as a leader in the industry. For one, it is a SpotOption powered broker but it is not part of the SpotOption white-label broker network. For another it is located in Uruguay and is regulated there under the Commerce Code of the same.

Why do these things matter? The platform that powers trading is one of the most important aspects of a broker. The platform is what the broker is all about. Assets, expiry, types of options, hours, pay outs and extra features are different from platform to platform and even from broker to broker within a platform framework. SpotOption is a great platform with one of the best available asset lists and most expansive choices of expiry, but it is also a white label business. This means that anyone with the resources to start a business in an appropriate location can buy into SpotOption, use all of its infrastructure, and put a whole new brand on the entire website, making a so-called “new” broker. This is why there are so many SpotOption powered brokers and why so many of them suck so bad. Empire is different because it is an independent business.

  • EmpireOptions is built on the Spot2 platform, one of the top platforms available today. It is not a SpotOption white label. EmpireOption is an independent company operating with its own resources, cashiers and banking solutions.
EmpireOption uses the Spot2 platform.

EmpireOption uses the Spot2 platform.

EmpireOption Is A Regulated Broker

Regulation also matters, it matters very much. Binary option regulation, in its various forms, can mean the difference between a broker that merely looks great and one that actually provides a fair trading platform and pays you when you make withdrawals.  Uruguay regulation has no jurisdiction outside of the country but it does mean that EmpireOption has to operate as a business under the watch of South America’s leading economy.  Unlike CySEC brands, EmpireOption welcomes U.S. traders and offers them the same great trading as citizens of any other nation.

The New EmpireOption

When Empire first came out they were not greeted with much enthusiasm and received some very mediocre reviews. The company took the words to heart it seems because they went to work and have emerged as a fresh new broker.  Along with a major overhaul of the website the company also changed how it treats your accounts. Instead of rewarding traders with bonuses that come with trading minimums and prevent withdrawals Empire uses a tiered account system.

The basic account comes with features and terms that you would expect to find standard at most binary options brokers. The minimum deposit for a Micro account is $200, not uncommon and maybe even below average . The Micro account has a $25 minimum trade, a $500 max withdrawal per action and all withdrawals cost $30. These terms are not awesome but as I said, not uncommon. Keep in mind that traders are rewarded as their accounts grow so this is not what I would call standard for the company. As your balance grows and you meet the next tier requirements your benefits improve. It only takes a balance of $1,000 to start getting some really nice improvements in your terms.

There are 5 tiers. The next up from the micro is called the Classic. Minimum balance is $600, minimum withdrawal is $100 and they are processed in 7 days instead of 10. Cost is $25 for each, the first is free.

EmpireOptions has a tiered account system that rewards larger accounts.

EmpireOptions has a tiered account system that rewards larger accounts.

The top tier is the VIP. VIP accounts have a minimum balance of $20,000 for the month and have no limit on withdrawal size, no limit on number of withdrawals, no cost for withdrawal ever and withdrawals are processed immediately. The only lag time for your money will be from the bank, credit card or online wallet you use to make your request. In order to meet account requirements minimum balances must be maintained for each level and a minimum number of trades must be made for the month. The lowest tier has the highest trade minimum, 20 trades of at least $25, the VIP tier has the lowest, only 5 trades.

This new system is revolutionary I believe. It provides the broker with a means to limit costly withdrawal actions from smaller account holders, encourages them to build their accounts and rewards them as their accounts grow. This could be the model that CySEC brokers follow as they phase out the bonus system, something I keep hearing rumors about.

Click here for a full review of EmpireOptions.

Is Banc De Binary Legit

This is a very good question. I will be the first to admit that the binary options community has earned a reputation for scams. There are quite a few binary options scams out there and that is what regulators are seeking to prevent. Banc De Binary is not one of them. The Banc is based in Cyrpus and has been a leader in the binary options industry since it opened in 2009. The bank and binary options broker has always maintained a professional approach to its operations and has been a leader in the binary options industry. It was the first broker to get CySEC regulated and it was the first broker to get regulated by the FSA.

Banc De Binary is based on corporate responsibility,ethical practices and the highest professional standards. At least that is what it says on the website. Digging a little deeper I found evidence to back up the boast. The first thing that come up is that it is the first binary options brokers to receive CySEC approval License number 188/13. This means that the European branch of the operation is regulated by the Cyprus SEC and the Eurozone Investment Services And Activities And Regulated Market Law of 2007-2009. This falls under the broader spectrum of the MiFIB and the European Economic Arena Passport. This assures that the broker is monitored by a third party regulator and is subject to scrutiny and sanction. It also means that all client funds are held in trust accounts and not commingled with corporate funds. This insures the safety of your deposits and guarantees access to European markets. These accounts are also protected by the EEA’s ICF, Investors Compensation Fund and audited by K.Treppiddes & Co Inc.

Banc De Binary Not Open For U.S. Traders

Another sign of the brokers legitimacy is its desire for SEC and CFTF Regulation. In order to back up its claims of transparency and compliance with local/federal banking laws Banc De Binary is currently in negotiations for approval and regulation as U.S. binary options broker. According to an update to a press release put out by BDB in January the CFTC and the bank are still in negotiation and there is no sign of progress yet. The Banc maintains its position and is hopeful it will get approval soon. This approval would mean that in addition to the NADEX, CBOE and AMEX binary markets there would also be an actual binary options exchange in the U.S. As soon as they close the deal it will open back up and I will open an account for a better revue.

More About Banc De Binary

Banc De Binary has one of the best binary options platforms available. The site is powered by SpotOtion, a binary trading platform used by about 80% of the binary options industry. SpotOption is also licensed under CySEC regulations. The platform is easy to use and comes with some of binary tradings best features. Screens are easy to read and payouts are good. Expirations range from 60 seconds to weekly and even monthly expirations through the end of the year. This gives some of the most flexibility of trading I have seen in binary options. Other types of binary trades available are one touch, 60 second and Options Builder. The first two are risky binary tools, I am still on the fence about the Option Builder. I have used it of OptionXP and didn’t really see the point but more on that later. Overall I like Banc De Binary and would use it if they received U.S. approval.