I reviewed EmpiresX back in June.
I did not recommend it due to all the red flags such as:
1- Unsustainable ROI (1% daily), no financial company in their right mind would offer passive returns that high.
2- Unregistered Securities Offer (they are not registered with any regulator to offer the public a passive investment opportunity legally).
3- No verifiable proof of revenue to pay investors ‘outside’ of Network Marketing Recruitment.
EmpiresX Seems to be in a pickle as some investors question what happened to their deposits:
The main issue I see affiliates complaining about with EmpiresX are the new / big withdrawal fees:
1- 40% for investors who withdraw within 30 days of investing
2- 20% for investors who withdraw within 60 days of investing
3- 10% for investors who withdraw within 90 days.
EmpiresX limiting withdrawals to once per month…
After third capital withdrawal, the account will be closed AUTOMATICALLY and if you want to continue using the platform, you need to register for a new account.
Affiliates and investors are not pleased and also are complaining about ‘support’ issues:
Cock and Bull SEC License Request?
EmpiresX latest webinar (October 11, 2021), admins claimed they have put in an SEC License request.
Based on my understanding of Securities Registration, a company doesn’t request a license, they register for one and then allow the SEC to ‘audit’ their financials to prove that EmpiresX gets their revenue from actual trading (where they claim).
They also claimed that the first time around, the SEC did not approve them.
At the end of the day, if EmpiresX can not prove to the SEC that they get revenue to pay investors through legit trading and documented proof, they will never be able to register.
I personally don’t think they can register with the SEC because they have not shown any verifiable proof up to now that they have ‘any’ trading happening at all.
Is This A Sign Of EmpiresX Collapsing?
Well it does not look good.
They have hiked their withdrawal fees up to 40% to discourage investors from trying to pull out their deposits any time soon.
Also that SEC story sounds like BS.
I think their network marketing recruitment revenue is in decline and they are just stalling for more time.
Most likely if things don’t turn around soon, EmpiresX will end up collapsing and doing an Exit Scam runner with the Lion’s share of investor funds.
Rory Singh is a Home Business Development Coach, Blogger and You Tube Publisher
I have seen many people, companies and systems come and go in my years online. I have 3 decades of experience in the MLM industry (since the 80’s) and have been online since 2006 (as an affiliate marketer).
I have been doing Reviews since 2013.
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