Empire Trading – Scam Analysis, Scam or Safe Broker?
Today we want to analyse an offshore broker that many have asked us, so we decided to write what we have analysed in our Blog.
Empire Trading Ltd is a company owned by Techsync Management Consultancies FZE, duly registered and incorporated in the United Arab Emirates in the Free Trade Zone, with registration number 100561717800003. This is a company authorized and regulated by the United Arab Quwain Authority (UAQ) with licence number 1861, registered office in Al Shmookh Building, PO Box 7073, Dubai – United Arab Emirates and London, 7 Bell Yard, WC2A 2JR – United Kingdom.
We have been told from them that they are mobilizing all the infrastructure for a worldwide expansion and the acquisition of many the licenses to operate in the various international territories.
At the moment, the broker holds a financial advisory license, registered with the United Arab Quwain Authority, a forex license will soon be available in Dubai, and another in Lithuania, within 4 months.
Despite its offshore nature, the broker has gained the approval of some European banking giants, which allow deposits at their headquarters. This is because Empire Trading has deposited not only the margin capital for its clients, but also the license applications on Dubai and Lithuania.
To remedy the temporary lack of regulations, Empire Trading offers its clients a very high level of security on funds through the use, as we said earlier, of 2 banks among the most prestigious in Europe, in which the funds are segregated.
Therefore, client funds are completely segregated from the Broker’s funds and are held at the aforementioned first class banking institutions. Empire Trading will never be able to use clients’ funds for its own operations or other investments, and therefore will never be able to take possession of them, thus guaranteeing their protection at any time.
It should be noted that 99% of Off-Shore Brokers do not offer this protection and guarantee service.
-Customer funds protection: +1
For now, it is a draw. Let’s go ahead and find out what else this Broker has to offer us.
By searching on their website, we wanted to analyse the range of instruments that can be traded on their platform.
The tools are shown below:
-Forex currencies: EURUSD, GBPUSD, USDCHF, USDJPY, NZDUSD, USDCAD, AUDUSD, AUDNZD, AUDCAD, AUDCHF, AUDJPY, CHFJPY, NZDCAD, NZDCHF, NZDJPY, EURCHF, EURJPY, EURCAD, GBPCHF, GBPJPY, CADCHF, CADJPY, EURNZD, GBPAUD, GBPCAD, GBPNZD, TRYJPN, USDPLN, USDSEK, USDTRY, USDZAR, EURNOK, EURPLN, EURSEK, EURTRY, EURZAR, USDMXN, USDNOK;
-World Indices: US30, EU50, SPA35, USTEC, UK100, FRA40, GER30, ITA40, HKG50, JP225, CHINA50, USDX, US50, EUR BUND, SWI;
-Commodities: BRENT, WTI, COTTON, XAGUSD, XAUUSD, XPDUSD, XPTUSD, RAW SUGAR, ORANGE JUICE, COPPER, NGAS, US COCOA,COFFEE ARABICA;
-Cryptocurrencies: BTCUSD, LTCUSD, ETHUSD, DSHUSD, XRPUSD;
-Stocks: Adidas, Apple, American Int. Group, Air France, Allianz, Amazon, American Express, Boeing, Alibaba, Bank Of America, Bayer, Baco Bilbao Viz., Bankia, BMW, BNP Paribas, Citygroup, Commerzbank, Cisco Systems, Chevron, Daimler, Danone,
Deutsche Bank, Deutsche Post, Ebay, EON, Ford, Facebook, Fedex, General Electric, General Motors, Alphabet, Goldman Sachs, Hilton Worldwide, Hewlett Pack, Iberdrola, IBM, Illumina, Intel, Jonhson & Jonshon, Jp Morgan, Coca Cola, Lufthansa,L.V.M.H, Mastercard, Mapfre, McDonalds, Microsoft, Netflix, Oracle, Pfizer, Procter & Gamb, Qualcomm, Ferrari NV, Banco Santander, Siemens, Societe Generale, At&T, Telefonica, Teva Pharmaceutical, Total, Tesla Motors, Twitter, Visa, Volkswagen, Exxon Mobil;
-Futures (zero spread, minimum deposit $ 100,000) : DJ30, EUR50, FRA40, GER30, JP225, UK100, US500, US100, US$X, COCOA, COFFEE, CORN, COTTON, SOYBEAN, SUGAR, WHEAT, NGAS, UKOIL, USOIL.
From what we can see, Empire Trading offers a very wide range of instrument to trade on, but the thing that surprised us most was seeing for the first time the possibility of trading FUTURES and SHARES, a very important peculiarity since these products are very complex and expensive, and only the best brokers have the opportunity to include them in their offer.
We all know that futures trading is a complicated job, even for the most experienced traders. Equally complicated is the choice of a broker in allowing you to trade them.
In fact, when looking for a broker, a futures trader has the task of weighing a series of essential requirements in his choice. Among these requirements, the most important are certainly:
– Low trading fees;
– Reduced margins;
– Super fast and malfunction-free platform.
The futures trader will therefore require each trading sessions to be free from problems or any other situation that could lead to significant losses of money (for example, the malfunction of the platform during a period of volatility).
For these reasons, Empire Trading guarantees:
– Zero fees;
– Negotiable margins;
– Hyper-fast execution and guaranteed average latency below 200ms.
-Tools offered: +1
-Low spread: +1
Let’s see if this broker will surprise us again.
Empire Trading offers only and exclusively institutional platforms, in particular it offers MetaTrader 5.
This limit has disappointed us a bit, we would have expected more platforms, but we note that they solve through the use of the FIX API technology.
We report it directly from the Broker’s website:
“The contemporary market is an ultra-competitive atmosphere in which being technologically savvy is a prerequisite for success. The Financial Information Exchange (FIX) API is a clearly defined set of rules and methods designed specifically for the electronic transfer of financial data. In the industry nomenclature, it is the electronic communication protocol for real-time information exchange for financial securities transactions. Empire Trading gives you the opportunity to trade as an Institutional Client with the best market conditions and with the most advanced technology at your service. ”
Empire Trading offers only and exclusively standard accounts. There are no Cent or Micro accounts.
Cent and Micro accounts are usually offered by Broker Market Maker, that is brokers who make money off investor losses, in other words, real scams.
For this reason, it is always good to choose STP or ECN brokers linked to liquidity providers.
Empire Trading offers a Standard account of the STP type and a Standard account of the ECN type.
Below is a comparative table present on the website of the broker in question.
We did not particularly like the limit of maximum operations at a time, the maximum lots limit and the minimum deposit set at € 500.00.
Surely they highlight the broker’s intention to acquire more experienced customers in the sector.
Instead, we find a positive side, that is to be sure of a connection to the Liquidity Provider. In fact, Empire Trading has highly professional connections with dozens of Liquidity Providers, that is a liquidity pool which guarantees rapid executions, with negligible slippage even in phases of very high volatility.
All the technological infrastructure is connected by optical fibre to the largest liquidity providers in the world.
Empire Trading uses a technology called X-core. It is a special liquidity aggregator that analyses the best Bid / Ask prices of each individual Liquidity Provider, for this reason the spreads are not only low, but have a constancy throughout the day. We have been able to test this peculiarity with a real account in 5 trading days with their platform.
– Type of accounts: -1
– Limits of accounts: -1
– Quality of accounts: +1
– Accounts customization: +1
– Trading experience: +1
With all its limits, we note that Empire Trading is always finding a solutions. We admit that we like this approach, but sometimes it’s not enough. Let’s proceed with the last highlights of this Broker’s analysis.
The Percentage Allocation Management Modules (PAMM) account is a managed account, which allows investors to earn money without having to trade.
The trader who manages the strategy carries out the operations on the Master account, which is a pilot account that will also send the operations to the clients’ account. The daily profits and losses are credited in % every 24 hours to each participant in proportion to the capital they invested in the strategy.
We asked for more clarification in chat on this fundamental topic and we found that:
-It is not possible to post a PAMM on the website if the manager does not submit a curriculum and a verified trading history of at least one year. This first step filters at least 70% of the very numerous and poor PAMMs that are on the market today;
-MyfxBook and FX Blue are verified and public, therefore the broker obliges the PAMM managers to be fully transparent;
-All PAMMs have safety stop losses in addition to the PAMM Manager stop loss;
-All PAMMs managers are remunerated by the profits generated, and not by commissions, ensuring maximum transparency to all those who rely on the service;
-PAMM accounts: +1
-Quality of PAMM accounts: +1
Empire Trading really amazed us. It has shown a strong business plan and experience, found in very few regulated and Off-Shore brokers.
Really well done. Empire Trading is still a young broker, but it offers itself to the market with a really serious configuration and a technologically excellent infrastructure.
It still has to grow, but there are interesting prerequisites for doing well in the trading sector.
In our assessment, it is an excellent Broker and holds a high degree of security despite the lack of regulations of a certain depth, which, however, we now know are coming.
Online Forex trading carries risks and is not suitable for all investors. Before starting trading, we invite you to consider your investment objectives, your level of experience and the risk. This Blog is only a guide that provides various information, which leaves the user free to decide whether or not to follow our recommendations, consult our forum and our blogs. This Review is not a financial advice.