Is There EmpireOption Scam ¦Credible Binary Broker South Africa

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LEGIT EmpireOption Reviews: SCAM or LEGIT?

    Thread starter vinaya Start date Jun 28, 2020

vinaya

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EmpireOption, as claimed, is one of the most advanced and secure binary options platform available on the market. EmpireOption has been around as far as 2020 and is one of the most popular binary options trading platforms among South Americans. EmpireOption is owned and operated by Baumann and Kraus Enterprises Ltd with their registered office situated at Stoney Ground, Kingstown VC0100, St Vincent & Grenadines.

What is Binary Trading?
Binary option can be explained as a type of financial exotic option whereby payout is a fixed monetary amount or absolutely nothing. In other words, Binary option let trader make profit from price fluctuation from multiple global markets. Binary option can be tricky but it is also simple to understand once you get a hang of it. A lot of Traders consider binary option as more of gambling than trading and European Union has recently placed a ban on it.

Pros Of Using EmpireOption As A Binary Trading Platform
1. Opens a new way of investing in the financial market in a very intuitive way. EmpireOption, as claimed, is very popular broker in countries like Argentina, Brazil, Mexico, and Columbia. They also provide customer service in the following languages English, Portuguese and Spanish.
2. EmpireOption was built using the popular SpotOption platform. Their platform gives traders the opportunity to trade over 1000 different asset and also provide technical support and other tools needed for efficient trading.
3. EmpireOption offers traders multiple payment methods like Skrill, Neteller, Payza and even local South American payment method like Boleto Bancario and Dinero Mail.
4. EmpireOption offers multiple account packages designed to suit your need. They offer a minimum of $200 deposit for their micro account package.

Cons Of Using EmpireOption As A Binary Trading Platform
1. It is unregulated. Binary Trading comes with a lot of risks and as a trader, you are always advised to always patronize regulated brokers in order to reduce the risk of a scam.
2. They are a lot of inconsistencies on its website. Information changes quite frequently and some are even inaccurate e.g there is a “Get It On Google Play” button on its website but its Android app appears to have been pulled from Playstore.
3. Their website is not responsive and its default language is Spanish but this can easily be via a drop-down on the header.

Final Note: Based on my research I really have a negative feeling about this platform mostly due to the fact that it’s not regulated and there seems to be a lot of negative reviews about it. Also, their Social media pages have been in action for quite some time. Personally, I would advise anyone to stay clear off their service and probably look out for better regulated binary options trading platform.

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Market News

South Africa’s financial services provider and markets regulator, the Financial Services Board (FSB) has issued a warning against the binary options broker Stockpair.

According to FSB, the broker is operating the site Stockpair.net, but a South African client has complained that he could not withdraw his funds from Stockpair. The company is not licensed and regulated in South Africa.

FSB’s information claims that Stockpair is located in Estonia and Belize. According to its site, the company operating the brokerage – NXB Financial Services Ltd. is regulated by the Belize International Financial Services Commission. Our check revealed that this is indeed the case.

But we also found a discrepancy between our recent review of Stockpair (stockpair.com), according to which the brokerage is owned by Nextrade Worldwide Ltd – a Cypriot company licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). As of the time of writing this article the check in the CySEC registry shows that Nextrade Worldwide is still registered and operates the site Stockpair.com.

However, both stockpair.net and stockpair.com now claim they are owned by NXB Financial Services registered and regulated in Belize. Perhaps in the couple of months between our review and FSB’s warning the company has changed hands, or its owners have registered a new company. Either way, a Belize license is not a guarantee that the company is honest and reliable, as the country is an offshore zone. Most such places are known as tax havens and for their very lax requirements for companies registered in them. This makes Belize, even though it has somewhat stricter regulation, and countries like Saint Vincent and the Grenadines or the Marshall Islands the preferred locations for many brokerages (and not only) with dubious reputation and shady business practices.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

As a general rule we advise our readers to avoid offshore companies and deal with properly regulated and reliable brokerages, like the ones under the supervision of UK’s Financial Conduct Authority (FCA) or the ASIC.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

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Some major forex brokers cut leverage due to Coronavirus-induced volatility

Dukascopy, IG, Admiral Markets, and Oanda Japan have decided to lower the leverage levels for certain instruments in light of the increased market volatility created by the Covid-19 pandemic. You may read more details on the changes in their margin trading requirements below. Read more

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Sharp rise in corona virus scams

Coronavirus related fraud has increased by 400% in March, Manchester City Council reports, citing data from Action Fraud, which has received over 100 reports from victims who have lost nearly 1 million GBP. Read more

FCA eases reporting deadlines for regulated companies

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CFTC hinders leveraged crypto trading

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Scammers use extortion e-mails threatening victims with coronavirus

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The Swedish Finansinspektionen warns against JTtrader

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SEC charges former US senator with $4.3 million crypto scam

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Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

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