You can be sure that Empire FXM is a scam that will not hesitate to steal your money if you sign up and fund your trading account with them. Empire FXM is such a risky broker that including them in our list of the most recommended Forex brokers on the internet is next to impossible. We never want to ruin our reputation by leading our audience to financial institutions that don’t meet the minumum threshold.
The minimum deposit is €250 but this does not mean that people are not depositing huge amounts of money and losing a lot of money in the process.
Reason being, a broker like Empire FXM can be extremely fickle. They don’t honor their terms and conditions and obviously they are not regulated by any respectable financial organization. This is a disaster.
This means that EmpireFXM does not have any guarantees in place that funds of their clients will be safe. Forget about compensation or segregated accounts because offshore brokers like Empire FXM only care about making money by exploiting the ignorant client who sees their website and believes their story.
Now, for serious traders or those who want to get started without facing disappointments, these trading resources can be of great help.
Empire FXM Review: What you should know
The website of EmpireFXM says that they are owned by a company called FT Global Financial Ltd. But when we try to dig deeper into the background of this company, we hit a dead end.
FT Global Financial Ltd simply does not exist and has never been registered anywhere.
Empire FXM also says that they are located in the Bahamas. Bahamas is an offshore jurisdiction and scammers who run doggy Forex brokerage businesses love Bahamas and other locations like the St Vincent and the Grenadines because these locations don’t have any strong oversight authority that can ensure brokers are abiding by the rules.
You don’t want to trust Empire FXM or any other offshore broker if this is the case.
Another thing is that this broker has invested in a professionally-designed website for purposes of fooling new traders.
Their slogan says “earn anytime, anywhere and anyhow”. The reality is that this is something they use to attract traders with money but with no experience. The truth is that they are going to scam you by taking your deposit and complicating the entire withdrawal process so that you can give up and lose your funds.
That is also where money recovery agencies come in.
Empire FXM account type, leverage and trading software
EmpireFXM offers 4 different account types. The VIP account type has a minimum deposit requirement of 10,000 euros.
If a trader wants to “upgrade”, they can do so by depositing 2500 Euros. But in as much as it’s easy to deal with a loss of 250 euros and forget about it, the fraudsters who run Empire FXM as well as those who ran doggy brokerages like Tradex-Premium, ASJ Forex Global and SolidECN always have a way of persuading victims to deposit more money.
We also see that the leverage they are willing to offer traders is between1:300 and up to 1:500. This is not bad, considering that most professional traders always go for 1:300 or less.
The trading software is the popular MT4 trading platform. Even scammers can get access to this software and use it to run illegal brokerages on the internet.
What to do if you’ve been scammed by Empire FXM
If you’ve lost a lot of money or you feel that you can’t deal with the loss, there is help for you.
I have provided a form for you to fill (it’s in the beginning of this review). Once you fill in your details and submit, investigations will start and you will recieve your money after a successful chargeback. It’s that easy and straightforward.
The conclusion is that this is a scam broker or at least not reliable enough for you to trade safely and trust that your experience will be good.
I plead with you to avoid Empire FXM at all cost if you want your trading journey to be smooth.
You can also add your comments below if you have experience with this broker.