Read our Empire Trading review carefully to understand why were commend this broker for trading. Just to clarify the doubts, thisis a review of empiretrading.net.
Who are they?
After taking a look at their website, it appears that they do nothave a European regulation, butthey report that 3 regulations are in the process of being finalised. The first should arrive in summer 2021. The custodian banks are European and have segregated accounts. This is an excellent point in favour for those who want to opt for an off-shore broker that offers a leverage higher than 1:30 and at the same time an optimal degree of reliability.
With the arrival of regulations, Empire Trading Broker will certainly become even more competitive.
How Does a Broker Scam Work?
Offshore forex brokers usually call people to convince them to make the initial minimum deposit, and they take any imaginable method to make that happen. They will offer situations that seem too good to be true, such as “we’ll double your initial deposit in 30 days” or “you’ll easily make $ 100 a day”. Thisis a clear sign of a scam, and Empire Trading is totally unrelated to it, also stating in its terms and conditions that the company policy does not tolerate any phone call or email to the customer, and that in no way Empire Trading will solicit or advise any person.
We had the opportunity to test, and we can confirm that this is the case! We have deposited, traded on the markets and withdrawn without any agent callingus to avoid the withdrawal, this was a very good signal.
So is or isn’t Empire Trading a Scam?
As mentioned, Empire Trading does none of the usual behaviours of a scam broker.
Empire does not offer its services to European customers, as it does not advertise its infrastructure in any way. If a European client becomes aware of the presence of Empire Trading through word of mouth, there is no tort or restriction. Further more, if a European user becomes aware of Empire Trading through an IB, it should be noted that such IB is not an employee or collaborator of Empire Trading. The IB will therefore be responsible for how he/shecommunicate with his/her audience.
Finally, it is important to add that Empire Trading, due to its nature of “Execution Only”, makes its technology available to all customers in the world, it is up to the user/IB himself to ensure that he has the requirements to be able to use it. It is important to underline that Empire Trading does not advertise its products online, does not suggest or solicitany investment, and never make direct phone calls to customers or not.
A scam broker does not adopt this business model; therefore Empire Trading does not configure itself as a broker scam. To date, there are no people who have eve rbeen scammed by Empire Trading.
The deposit methods accepted at the moment are the bank transfer to their European account with segregation of funds and crypto currencies. The Broker reports that it willsoon be possible to deposit with credit/debit card.
Withdrawal of funds
Withdrawals are made via wire transfer or crypto (depending on the deposit method chosen) and are very fast. The funds, being segregated, are in no way accessible by the Broker as they are separate from the company’s share capital. This mode isamong the safest ever, as, if the broker fails or closes, those funds will go back to their right fulowner.
How does Empire Trading make money?
Empire Trading is not a Broker Market Maker (brokers who earn from customer losses) like 95% of the Brokers in circulation (including regulate dones) but is directly connected to Liquidity Providers (bank liquidity). Therefore, it earns exclusively through the spread applied to each transaction and any PAMM Performance Fees.
So the more the client stays in the platform, generates profits and volumes, the more Empire Trading earns. Everything is perfectly ethicalun like Broker Marker Makers which are real casinos.
There are 2 types of accounts offered by Empire Trading.
STP and ECN account. It does not offer micro accounts or cent accounts, precisely because it is not a market maker Broker (it does not earn from customer losses).
These two types of accounts (STP and ECN) are exclusively related to brokers that connect users to interbank liquidity.
In market makers wealways find hidden costs, huge swaps (overnight transaction fee), and strange fees designed to drain the client’s capital as soon as possible. In short, market makers offer the worst possible market conditions for the user to lose money.
With Empire Trading we have excellent market conditions, better than any other regulated broker.
Empire Trading is a young broker that places himself on the market with a considerable seriousness. Excellent market conditions, earnsonly from spreads and performance fees, connects all users to the Liquidity Provider, offers STP and ECN accounts, does not make any marketing activity, does not solicit investment, custodian banks in Europe and segregated accounts. In short, everything that a Scam Broker does not have and does not want to have.
We are confident that once the European regulations havebeen acquired and the deposit methods expanded, this broker will let a lot of talk about himself. Wewould like to clarify that with this Review, we do not want in any way to invite you to invest.