Empire Option Review
Reason to avoid: Offshore License
Listed Date: November 14, 2018
Top 3 Regulated Forex Brokers
Beware Empire Option is an Offshore-Licensed Broker. It is NOT SAFE to trade.
- Company name:
Baumann and Kraus Enterprises Ltd. EmpireOption.
- Registration Address/ License:
St. Vincent and the Grenadines. Offshore License, No Regulation.
Empire Option is a trading name used by the Baumann and Kraus Enterprises Ltd, which is located in offshore zone St. Vincent and the Grenadines. The broker promises a new way to invest in the world’s leading financial markets through more than 1,000 assets with advanced tools.
Yet, being located in an offshore zone the fact is the firm is not overseen and regulated by the strictest international rules that confirm the sustainable status of the company. In addition, the firm also appeared in warning lists of several authorities that includes EU regulators and beyond.
The reviews about the company consist of mainly negative ones, with a history back to 2015. As the reputation of the broker widely spread among internet sources, the broker decided to change their target strategy to those regions that may not find their negative information. And that regions includes mainly Spanish speaking countries and clients, especially from Latin America, as well as the Middle East regions. However, the frauds the Empire Option perform already revealed through numerous sources while clients still facing the same problems with withdrawals, manipulations and malicious trading itself.
In conclusion, of course, the traders should avoid Empire Option broker and any contact with them, as well as not to involve into any non-regulated sites or entities. The first step to protect funds and engage in the reliable investment is to check on the authorization status of the company that confirms a legal status of the entity. We recommend to choose among the recommended FCA Regulated brokers, ASIC Regulated Brokers or similarly regulated brokers.