If you have been in the binary options trading space for long enough, then you must have heard about Empire option and 24Option. There are some of the most popular binary options brokers available. You probably interacted with either of them or even both. How do they really compare? Choosing a binary options broker is crucial of successful your trading endeavors will be. We all know choosing binary options brokers can be overwhelming. This short review seeks to compare Empire Option and 24option, and hopefully help you decide if you are stuck between the two.
Empire Option
Empire option is a Uruguay-based binary options broker that was launched in 2010. It has an operating base in the UK too. the brokerage has been in operation for seven years now. It uses the SpotOption trading platform. Empire Option’s trading platform is user-friendly and very intuitive. Empire Option offers a demo account that comes pre-loaded with $10000 virtual deposit. It offers five types of trading accounts depending on the money you have for the minimum deposit. The accounts are;
| Account | Minimum Deposit ($) |
|---|---|
| Micro | 200 |
| Classic | 500 |
| Plus | 1000 |
| Account Empire | 5000 |
| VIP | 30000 |
Empire Option also has the following trade types;
- Short-term options – 30 seconds to two minutes trades. These are great for those who like to trade with micro-movements in the money markets.
- Long-term options – this is a more strategic approach that involves observing the assets over a long duration.
- One touch options – this option allows you to predict the asset will touch a particular point before the expiry time. Once it does you receive the payout.
- Pair Options – this option allows you to trade with a pair of assets. The prediction involves which one among the two will perform better.
Empire option offers up to 82% profits on investment in payouts.
24option
24option is a binary options broker based in Belize, with the headquarters in Cyprus. The brokerage is licensed and regulated by CySec. CySec is one of the most respected regulatory authorities. 24option has been in operation since 2010, and it is available in many countries. The brokerage runs a tech financials train platform. It offers only one account, with a minimum deposit of $250. It is the second largest binary options broker in the world. 24option offers up to 88% profit on investment in payouts.
which one is better?
Empire Option and 24option have been trading successfully for seven years. That means their credibility cannot be questioned. However, 24option seems to be more credible since it is regulated by the respected body. Empire Option is not regulated. Empire option is designed for people looking to invest huge amounts. The small accounts on Empire Option have lots of restrictions and charges on withdrawals. It is not a good option for beginners. On the other hand, though 24option still has a high minimum deposit, it is more beginner friendly. Overall, 24option is more receptive to all its clients regardless of their financial capacity. Empire options are only friendly to traders with a fat wallet.
Check out the comparison table below.
| Broker | Minimum Deposit ($) | Minimum Stake ($) | Maximum Payout (%) |
|---|---|---|---|
| Empire Option | 200 | 25 | 82 |
| 24Option | 250 | 24 | 88 |
See Also:
- Binary Options Brokers Pros & Cons Comparison
- What are Binary Options? How to Trade on Binary Options? Complete Guide
- Regulated Binary Options Brokers
- Trade Binary Options Successfully: Complete Guide
- Is It Possible to Make Millions While Trading Binary Options?
- EmpireOption Review
- ExpertOption Review
- HighLow Review
- OlympTrade Review
