Full Review of EmpireOption Binary Options Education
One of my favorite artists is Tom Waits. He has one of the most intriguing styles I have ever come across in an artist; his ninja skills with words are level 99 and his lyrics flow seamlessly on a jazzy blues melody, all on top of his magnificently growly voice. To me he is one of the last, few, real artists alive…but, you either love him or hate him: his music is hard to understand at first and he can be too abstract at times. You might wonder why I am talking about an artist when I should be reviewing broker education. Well, because the moment I was reviewing EmpireOption, I was listening Tom Waits and I couldn’t stop thinking how different they are. Waits has so much originality while Empireoption… is so far away from original; but let’s talk more about the broker, not the artist.
Empireoption – First impression: Nothing new
Well, this particular broker has a female model on the first page (in fact, she appears on all the pages, in different pictures)…and I don’t really consider that professional, like I said in my previous articles. The structure of the website is exactly the same that I could find in countless other brokers: picture of a girl/trader/analyst, just below is the actual trading platform and on the right side is the “Open account” section and the three steps for placing a trade. Nothing new and it really gets boring to see that a “financial institution” cannot come up with something new and just copies the structure of the original broker that first used it.
Empireoption – Basic level education: Mediocre to say the least
The “Frequently asked questions” section contains some good answers and it’s pretty comprehensive, but again, it has the same topics that many other brokers have. Well, since these are topics of interest, all the brokers should have answers to them. Agreed, but a broker cannot get in front of others just by using different colors on their website and keep the rest the same and then claim they are “the best” or something similar. The Glossary does an equally mediocre job at explaining important and useful terms and lacks in certain areas. For example, they only explain Out of the Money and forget about In the Money and At the Money. The funny thing is that their Glossary contains 15 terms but they have a search box…maybe I get lost in the 15 terms… Next, I landed in the “What are Binary Options” section where I found 2 reasons why Empireoption thinks Binaries are amazing (not very good reasons, I might add) and a video about how great they are and how to use their platform and what assets are available. After finishing going through this section I don’t feel more informed about Binary Options than I was before because all they do is fill my head with how easy it is to profit from trading binaries, especially if I do it with them.
Empireoption – Medium level education: E-book? What E-book?
In the “Platform” section or as they call it, “Platform”, Empireoption offers me information about the types of Binary Options available and continue to do a bad job at it: their explanations look more like advertising, with excessive use of bold letters when it comes to their advantages. Really, how low can you go? This is one of the oldest tricks in the book and writing in bold letters stuff like “safely operate”, “larger profits”, “increase your earnings big time!” is just making me sick. Sure…I am going to increase my earnings “big time” with a broker that can’t spell “Platform” right… On top of that, when I click on “One touch” and “60 seconds” I get an explanation in Spanish. In fact I’m not even sure it’s Spanish because I don’t speak it. If this is a new way to confuse a new trader…at least they are original. But maybe there is still hope because I see they offer a free e-book which can be downloaded without registering. Ok, maybe here I will find more advanced knowledge and information. It soon proved to be wishful thinking because the e-book is 6 pages long with the first page containing just the title of the e-book and another full page is filled with the picture of the girl from their website and some assets that can be traded with them. The remaining pages contain some classic reasons why I should choose them and more Frequently Asked Questions that really don’t help the trader who wants to know more about Binary Options. After reading their “e-book” I can’t call it an e-book or a guide and I feel it should be named “More crap in my face”. Don’t bother with it. The only informative thing that I could find on their website is the Daily report, which surprisingly is dated just one day back and contains some pretty good technical and fundamen….Oh no! Forget I said anything positive. In the report they tell me that Spanish GDP (Gross Domestic Product) “fell to -0.3% from -0.4%”. For all the “analysts” at Empireoption: a decrease in a negative number means that the value is rising! Minus 3 is bigger than minus 4 so actually the Spanish economy is doing better, not worse. Free lesson…and you’re welcome, Empireoption.
The right conclusion
I must say that I am looking for a single reason why I would recommend this broker to a new trader for educational purposes and I cannot find one. It’s not all bad information, but when they do their best, they are just mediocre and I can find on other sites all the information provided by them. The main feeling I get from Empireoption is that they don’t know much about the financial market and they try to compensate this by filling my head with cheap shenanigans like “increase your earnings big time”. On top of that, their website switches to another language when I click on certain links and their grammar and math skills need improvement. If I would think in a Binary way about EmpireOption, I would definitely choose Put…going down.
Read the Complete EmpireOption Review by Martin Kay to learn more about this broker