Empire Crypto Fx Review
In the last couple of decades, one of the biggest trends to have spread worldwide is that of online trading. The financial markets offers infinite opportunities to people who wish to make money and all you require is professional and authentic broker to help you tap into them. But, this can be a challenging quest as identifying such brokers is easier said than done. The high number of brokers operating in the market, along with the false yet attractive claims make it difficult to select the right platform. You should check out Empire Crypto Fx review if you are considering signing up with this broker.
Why go through this process? It will provide you with in-depth knowledge of what to expect from this broker and can help you decide if you should rely on them or not. After all, where the internet is concerned, you cannot just believe the claims any company makes and this also applies to Empire Crypto Fx. No one wants to have to deal with losses and doing your homework can save you from it. Where Empire Crypto Fx is concerned, it claims to be an online investment firm dedicated to crypto and forex trading and serving 2.3 million clients in almost 190 countries in the world.
Moreover, they assure you that the innovative trading platform on Empire Crypto Fx doesn’t carry any risks and profits are guaranteed. But, is this the truth? Let’s find out:
Virtually anonymous website
The first thing you will come to know about Empire Crypto Fx is that the brokerage has a virtually anonymous website. This means that there is no company name given, neither is there any corporate background. They have only provided a phone number and made a vague reference about being located somewhere in Canada, but no details are given. Another important fact that will come to light is that a warning has been issued by the Comisión Nacional del Mercado de Valore (CNMV) in Spain about the broker and how it is operating illegally. All these clearly point to a scam.
False risk and profit claims
The Empire Crypto Fx website invites people to register and start earning and the problem is that it promises a no-risk environment. It claims that they analyze all investments meticulously for yielding profit and this is just not possible for any broker. The financial markets comprise of highly leveraged instruments, especially the crypto market which is known for its high risk and volatility. Thus, any broker that’s promising you guaranteed returns is only going to scam you.
Secondly, it is obvious that Empire Crypto Fx offers managed accounts to its clients i.e. it trades on behalf of the people. No legitimate brokerage would ever offer to do so because by definition, all of them are market makers. This means they make profits when traders lose. If you entrust them with managing your investment, they will deliberately lose it all to make their profits because this is a classic situation of conflict of interest.
Discrepancy in minimum deposit
If you check the claims made by Empire Crypto Fx regarding minimum deposit, they state they only ask for a deposit of $100. However, if you take a look at their first account option named Gold and consider its minimum deposit, it is about 0.0142 BTC, which is more than $500. The question is why are they misleading their clients? No authentic broker would ever make such a mistake.
No proper trading platform
A quick check of the Empire Crypto Fx website shows that they appear to be offering a web-based trading platform, which is very basic and doesn’t seem to offer much.
Along with these problems, you will not find any information about leverage, or payment options available on the Empire Crypto Fx website. This indicates that you shouldn’t make the blunder of relying on this broker for anything because they are a scam.