Spain’s regulatory body, the Comision Nacional del Mercado de Valores (CNMV) published a warning on the binary options broker EmpireOption.
The Commission warns that the broker has no authorization to provide investment services and advice on financial instruments, including transactions of foreign currency.
On its website EmpireOption boasts that it offers the most secure and advanced binary options trading platform. Its clients can trade in forex, stocks, commodities and indices and two platforms for social trading: iFollow and ZuluTrade.
The broker’s portfolio includes short and long-term binary options and one-touch trading. It offers five types of trading accounts – Micro, Classic, Empire Plus, Preferential, and Empire VIP. The minimum required deposit is $200 (for the Micro account).
EmpireOption also offers training materials such as videos, seminars, tradebooks, simulators, trading signals, etc.
Even though it explicitly says it does not offer its services to clients from the US, EmpireOption has a customer telephone number in the country, as well as in France, Venezuela, Spain, Mexico, Chile, Columbia, Peru and Brazil. There is no information on where and if the broker is regulated.