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Empire4x Review: An Unregulated Forex Firm

Empire4x Review: An Unregulated Forex Firm

A platform offering leverage of 500:1, Empire4x is a risky investment platform. Empire 4x is putting your funds at risk by offering high leverage. Investors might think it’s a huge win which is contrary to the truth. Once you make a losing trade, there’s no way of getting back. And this is the reason why we have to expose the red flags found on empire4x.com. Get the truth in our transparent EMPIRE4X REVIEW.

A Summary of Empire4x

Empire4x Review

The website’s overall design is appealing to the eye, and there’s no doubt about it. It shows that the people behind it have online trading experience. The only problem we have is the harsh trading conditions offered to investors.

Apart from the harsh trading conditions, the platform also claims to be fully regulated. ASIC is the regulator they profess to get a license from. However, our investigations reveals the truth about their registration status.

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Empire4x does not come anywhere close to a regulated platform. The platform has issues concerning delays in withdrawal. Other investors have aired out their experiences in the open. Most sight lack of customer support as another reason to stay out of the platform.

According to the homepage, their business philosophy includes Innovation, responsibility, simplicity, and transparency. The minimum allowed deposit is $100, and the margin out is set at 20 percent.

Although the platform claims to reside in the UK, they suggest regulation by ASIC. It’s uncommon for a platform to reside in the UK and have their license from Australia. The Financial Conduct Authority is the only body that regulates UK forex investment platforms.

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Account Types Empire4x

Empire4x offers several different account types. Each of the accounts seems to have specific benefits. For example, members can shift from one account to the other by increasing their depository amount. Let’s take a closer look at each of the five accounts.

Basic ECN

The minimum deposit for the Basic ECN account is $100. Members get floating spreads from 3.5 pips, and the leverage is set to 1:50. There are no commissions on all accounts, with hedging allowed on all of them.

Standard ECN

You must deposit a minimum of $1,000 to start trading with this platform. The floating spreads are set to 2.5 pips, and leverage is 1:100. Scalping is not allowed with margin and stop-out levels set at 80 and 60 percent, respectively. 

There’s a bonus that comes with each account.

Premium ECN

To start trading with this account, you must deposit $5,000. The Floating spreads are set at 1.5 pips, with leverage being 1:400. Scalping is not allowed, but members can rest easy as hedging is possible. 

The account has high leverage, which increases your chances of losing more funds.

Accounts VIP and Exclusive

Account Types Empire4x

Privilege ECN

There’s a minimum allowed deposit of $10,000 with the floating spreads from 0.5 pips. The maximum leverage is set at 1:500. Margin and stop-out levels are the same with all accounts. So you can opt for an Islamic account on all levels.

You will also get a bonus on each deposit with the Privilege account.

VIP ECN

It’s the most exclusive account, and members must deposit a minimum of $25,000 to start trading. The account has floating from 0.1 pips, and the maximum leverage is set at 1:1000. With such high leverage, investors are pulled in, not fully understanding the risks.

There’s also the option of choosing an Islamic account version of the VIP ECN package.

Assets and available trading instruments

The platform offers four classes of assets to investors. You can trade commodities, currencies, forex, and indexes. The commodities found include energies and precious metals. These are some of the widely popular trading instruments, including Gold, Oil, and Silver.

Cryptocurrency trading is also available, with the platform offering five pairs. For example, you can trade five of the leading cryptos against the US dollar. The crypto includes Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple.

Forex trading is available five days a week, with the platform offering major currencies only. As a result, we could see five major currencies available on the platform. In addition, the currencies were paired against each other. EUR/USD, GBP/USD, USD/JPY, AUD/USD, and GBP/JPY.

Index trading is the last class of assets available on Empire 4X. You can get the most popular indices in Australia, Asia, Europe, and the United States. Available indexes include AUS200, HK50, JPN25, NAS100, and UK100.

Bonuses

One reason we doubt the credibility of Empire 4X is the issuance of bonuses. No regulator will allow platforms to offer bonuses. So it’s with a good reason why regulators are banning platforms offering bonuses.

These platforms will use the bonus amount to blackmail members into depositing more funds. Before making any withdrawal, the platform demands you pay back the full bonus amount.

It defeats the reason why platforms offer bonuses in the first place. A bonus is a gift you receive for signing up with the platform. But, unfortunately, these platforms are turning bonuses into what looks like small loans.

Contact and support

Empire 4x Testimonials

Although there’s a call us button, the platform does not list a phone number. You can only make contact by sending an email. We sent one of our partner brokers to the site to confirm the place of residence.

He found that the place of residence is an apartment with no business ventures. In addition, the platform avoids any direct interaction, which means they are based offshore. 

Deposit and withdrawal

There are several depository methods, and we understand the need for them. Members won’t have any excuse as to why they can’t make deposits. The platform accepts e-currency as well as FIAT.

.The depository options include Bank transfer, Bitcoin, FasaPay, MasterCard, Neteller, Skrill, and more. Before committing funds, you should check whether there are any withdrawal complaints. And it’s clear users have already lodged complaints with regulators.

Empire4x License and Registration

Empire4x is not a licensed or registered entity and does not have any valid documents. We are dealing with a platform that claims to have a license with no proof of it. Even after searching through ASIC’s records, we couldn’t find the platform.

The Financial Conduct Authority does not have any platform licensed or registered under the above name. And this is the reason we believe the platform is a risky option. Those who sign up end up losing a huge chunk of their investment.

When investing in forex, check and confirm with regulators whether a platform is legit. The regulators in question include ASIC, BaFIN, CONSOB, CySEC, FCA, FINMA, SEC, and more. These are reputable;e regulators who only issue licenses to reliable and transparent platforms.

Safety of funds with Empire4x.com

Empire4x Payment Methods

The security of funds is unavailable with a platform that’s using false registration statements. As a result, there’s no safety net to protect investors from bankruptcy or insolvency. In addition, the platform fails to deposit the minimum acceptable amount with regulators to start forex services.

Why you should avoid Empire4X

Here are the main reasons why we won’t recommend using Empire 4X

  • A lack of proper regulation
  • High Leverage
  • Security of funds is not available

These are the reasons why you should avoid investing with empire4x.com.

Make the best decision by investing in proven entities. It’s the best way to invest and make realistic profit margins.

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