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Please be aware of the risk!
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It has been verified that this broker currently has no valid regulatory, please be aware of the risk!
Thousands of EmpiresX Investors have lost Millions collectively but now the company has sold all of their affiliate private information to other scammers.
EMPIRESX is an online financial service company offering financial services to its clients. But is EMPIRESX trustworthy? Is EMPIRESX a scam? Those are important questions that many traders are eager to know the answer to. Therefore, WikiFX made a comprehension review on this broker to help you better understand the truth, we will analyse the reliability of this broker from specific information, regulation, exposure and etc. And you should never miss it.
EmpiresX promises to be the best brokerage firm on the industry, yet it has no phone number or address. As strange as it may sound, we want to encourage our readers to stay tuned because this is only the beginning. In this EmpiresX review, we'll reveal many more secrets that EmpiresX has carefully kept concealed from the general public. If you're trying to figure out whether EmpiresX is a scam or not, read the whole EmpiresX review and make your own decision.
EmpiresX is an offshore broker that is not authorized in its region by any reputable regulatory organization. The broker can operate in many countries without being regulated by a reputable regulatory authority in that country, such as CySec, ASIC, FCA, CNMV, and so on. However, regulation cannot be the main grounds for labeling this broker a swindler. Many EmpiresX complaints and unfavorable Broker reviews, as well as other probable scam elements, could all be contributing factors. If you trade with EmpiresX, your money may not be safe.
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GENERAL INFORMATION AND REGULATION
Empires X is an online investment platform. It will allow you to invest money into real estate, some non-specified private investments and a trading bot (Ex Bot, Bin Bot).
The main selling point seems to be the trading robot that trades Nasdaq and will allegedly generate you a return on your investment up to 1% daily. There is also a very generous affiliate program that can earn you additional revenue across 20 levels. You will earn a portion of what people under you invest.
The EXB robot costs $400 per year and it is the initial investment that everyone has to make in order to become an investor. If you want to be just an affiliate, your minimum initial investment will be $200.
But is EmpiresX legit, should you invest with it？
Unfortunately there is no doubt that EmpiresX is actually a scam that will just run for a limited period of time and then disappear with all the money left in the system. In this review we explain why. Empires X is providing investment services. As we have already explained in this review, besides the trading robot there is also real estate investing and some other non-specific investing.
These activities are regulated in most countries. This means that EmpiresX needs authorizations from financial regulators in every country they want to have members/investors in. So, is EmpiresX regulated as required by the law？ No, it is not. In fact, it is a completely anonymous enterprise. The only contact information they provide on their website is an e-mail address, that‘s it. Doesn’t look very trustworthy, does it？. The fact that people who run EmpiresX are hiding and breaking the law by not being regulated tells a lot. It is a scam that you have to avoid.
The company is violating the rules of various countries. They do not have a single license on their website. There are various regulatory bodies in the market like the NFA of the USA, ASIC of Australia, FCA of the UK, and CySec of Cyprus, just to mention a few. These are agencies dedicated to helping investors get high-quality services from investment schemes.
EmpiresX has no retailable products or services, with affiliates only able to market EmpiresX affiliate membership itself.
EMPIRESXS COMPENSATION PLAN
EmpiresX affiliate membership is tied to an initial $200 or $400 investment. The difference between these two investment tiers is income potential.
EmpiresX affiliates invest $200 or more in bitcoin or ethereum, on the promise of an advertised “up to 1%” daily ROI.
• Affiliates invest $200 and receive up to 0.6% a day
• Investors invest $400 and receive up to 1% a day
These investment tiers should not be confused with “affiliate investors” below, used to refer to EmpiresX affiliates who have invested.
Note EmpiresX charges a 20% withdrawal fee made on withdrawals within an affiliates first month.
EmpiresX Affiliate Ranks
There are seven affiliate ranks within EmpiresXs compensation plan.
Along with their respective qualification criteria, they are as follows:
• Rank 1 – invest $500 and recruit at least one EmpiresX affiliate investor
• Rank 2 – invest $1000 and recruit at least two EmpiresX affiliate investors
• Rank 3 – invest $1500 and recruit at least three EmpiresX affiliate investors
• Rank 4 – invest $2000 and recruit at least four EmpiresX affiliate investors
• Rank 5 – invest $3000 and recruit at least five EmpiresX affiliate investors
• Rank 6 – invest $4000 and recruit at least six EmpiresX affiliate investors
• Rank 7 – invest $5000 and recruit at least seven EmpiresX affiliate investors
EmpiresX pays referral commissions via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliates unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
DEPOSIT AND WITHDRAWAL
This broker didn't provide a clear detail information about the acceptable means of depositing, but from what we observed in their website they only accept payments through Bitcoin only, and this looks fishy!
The entity claims it operates in over 5 countries, and over 50 countries can access its website. The entity, however, does not see the need of showing its country of origin. Therefore, it is hard to pinpoint the operational area of the scheme. The only way that investors can contact the firm is via email.
It seems the entity is determined to remain anonymous. You cannot get reasonable returns with the firm. The platform requires traders to provide their personal data, yet simple things like their office address become a problem. The venture will disappear from the face of earth unceremoniously.
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