Pocket Option involves significant risks and questionable practices. Although it asserts that it does not serve residents of EEA countries, the USA, Israel, the UK, and Japan, it allows deposits without verifying users’ locations.
Pocket Option is an online trading app for binary options and forex. The web-platform, smartphone app and MetaTrader 5 software provide you access to over 100 different assets.
Our Evaluation of Pocket Option
Pocket Option is one of the top brokers in the financial market with the TU Overall Score of 8.8 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Pocket Option clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company.
A modern platform for binary options trading across 100+ assets, including currencies, stocks, commodities, and cryptocurrencies. Provides access to a wide range of markets for both new and experienced traders. The minimum trade size is $1. The platform supports both short-term positions and longer-term trades. Users can take advantage of hotkeys for faster execution, as well as express and social trading features. Tournaments with cash prizes are held regularly. Additional tools include built-in technical indicators, trading signals, and a demo account with $50,000 in virtual funds for risk-free practice.
Brief Look at Pocket Option
The Pocket Option broker is part of Gembell Limited holding, which was founded by a group of professionals seasoned in trading and investment activities. The company is mass-market requirements-based, therefore, it provides quality services to binary options trading in the OTC market access. The broker strives to make the trading process as simple, clear, and convenient as possible. For this reason, Pocket Option has developed a unique trading platform to ensure stable trading for traders and investors.
Advantages of trading with Pocket Option:
- low threshold for entering the market; the first deposit for binary options starts at $5;
- social trading platform generates passive income.
Disadvantages of Pocket Option:
- support service responds within 24-48 hours, which is also too slow.
- not licensed by any reputable regulator;
- to trade Forex through MetaTrader 5, you need to deposit at least $1,000;
Is Pocket Option regulated?
By exploring their website, we detected a notorious red flag: Pocket Option has no regulatory approval. Our first action in any broker review is to assess if reputable financial authorities regulate the platform within the US, European Union and/or the UK, like the Securities and Exchange Commission (SEC) or the Financial Conduct Authority (FCA), a criteria that Pocket Option did not pass.
The company behind the Pocket Option website, Infinite Trade LLC, is registered in the Republic Of Costa Rica, San Jose. The real owner of Pocket Options changes the name frequently, as previously it was named “Gembell Limited”, a company registered in the Republic of the Marshall Islands, an offshore tax haven. It is not supervised by top-tier regulators, and there is no guarantee that investors will be compensated if the broker goes bankrupt. Investor protection schemes are reliable within the US, EU or UK financial regulatory environment but not in tax havens.
Indeed, the FCA has already issued a warning stating that the firm is not authorised to provide, promote or offer financial services or products in the UK.
As said earlier, please keep in mind that it is common for these kinds of firms to change names regularly.
Finally, it was difficult to find any details about the company. There is no LinkedIn company page, no information on the employees… Nothing.
Thefinance Tech reviews: Are they fake?
If you search for “Pocket Option” in Thefinance Tech, you will get several domains like “pocketoption2.com” or “pocketoptionco.uk” (none of these domains exist) instead of the real one: “pocketoption.com”.
When we first conducted this Pocket review, the company was live on Thefinance Tech with over 3,000 reviews; however, it had already been flagged by Thefinance Tech (see image below). After carefully reading through dozens of reviews, we noticed that most positive feedback was untrustworthy. We think most of these are fake. Many of these reviews employed broad statements, lack specific details, and utilise language that is not typical of genuine customer reviews.
Why Choose Pocket Option
Pocket Option has a number of advantages compared to other similar brokers, namely:
Trading Assets
One of the first things you notice when you log in is the sheer number of global assets available for trading.
At over 100, there’s definitely something for everyone, whether you’re into forex, stocks, indices, commodities, or cryptocurrencies.
Once you start trading, you can check out the platform’s impressive forex selection, with all the major pairs accounted for, as well as minors and exotics.
The same goes for the stock list, which includes all the big names like Amazon, Facebook, Microsoft, and Apple.
You can also trade major indices like Dow Jones or S&P 500, and a number of commodities such as gold, silver, platinum, crude and brent oil, and gas.
And last but not least, there is also a limited selection of cryptocurrencies available for trading, including Bitcoin, Dash, and Ethereum.
Trade Types and Payouts
Pocket Option only offers the classic high/low binary options trading. This means you only need to predict whether the price of an asset will go up or down over a predefined period, and there are only two possible outcomes.
High/low options are the most popular type of binary options as the payouts are nearly instant and generally much higher.
Pocket Option promises the highest payout in the market of up to 218% for regular binary options. At the same time, the lowest payout you can expect is 50%.
However, if you’re looking for more advanced trade types than the one you’ll get with Pocket Option, you should check out other brokers’ offers.
Bonuses and Promos
Pocket Option has a number of bonuses and promotions, which can be a great way to boost your trading capital.
For example, the broker currently offers a 50% bonus on your first deposit of $50 or more. To qualify, you’ll have to open a live account and meet the minimum deposit requirement.
Also, you’ll have to trade first, and only then will the bonus be credited to your account.
Pocket Option has a cashback feature that lets you return up to 10% of the lost trade orders.
When you activate the feature, it will automatically be added to your monthly balance if the total loss exceeds the previous month’s profit.
Demo Account
We’ll dedicate the next section of our review to helping you learn more about the demo account.
One of the best things about Pocket Option is that they let you practice your binary options trading strategies with $10,000 in virtual funds.
This is a great way to test out the platform and see if it’s right for you without risking any real money.
To open a demo account, simply click on the Demo Account button on the homepage; you don’t even have to register first.
Once you’re in the demo mode, you can start practicing with actual market conditions.
Deposit and Withdrawals
The company boasts more than 50 payment methods, and you can start trading with as little as $1.
As for deposit and withdrawal methods, you can use most of the popular credit/debit cards, bank wire transfers, digital wallets, and crypto wallets such as Bitcoin, Ethereum, and Litecoin.
Deposits are free, whereas the minimum to fund your account is $50.
When it comes to withdrawing funds, the minimum you can cash out is $10, and you’ll be able to withdraw USD only.
Processing will require one to three business days and might even extend to 14 days in some cases. However, the good news is that there aren’t any commission fees or hidden trading costs.
Additional Features
Aside from the standard features that most options trading platforms have, Pocket Option also offers unique and innovative features such as indicators and signals, social trading, achievements, and tournaments.
Indicators and Signals
With Pocket Option signals, you can review market performance and conditions. Using binary options signals and indicators, you can make better-informed trading decisions.
The indicators are based on technical analysis and account for support and resistance levels, moving averages, and trend lines.
Tournaments
Pocket Option also allows traders to compete in tournaments against other traders on the platform.
These tournaments offer an impressive prize pool of up to $50,000 and bring you a chance to see how you stack up against other traders.
Achievements
In addition to tournaments, Pocket Option offers traders the opportunity to earn achievements. These are essentially badges you can collect as you trade on the platform.
The more achievements you have, the more experienced a trader you are considered to be. Climbing from Newbie to Guru can bring you up to $50,000.
Social Trading
Finally, Pocket Option social trading helps you review and copy the trades of other successful brokers on the platform.
This is an excellent way to learn from more experienced traders and boost your profitability, especially if you’re just starting out as an investor.
Pocket Option Customer Service
According to Thefinance Tech, 60% of people rated it good while another 12% thought it was fantastic, which justifies a 5-star rating. Phone, email and live chat customer service is readily available. You’ll be able to send emails to several departments, contact a toll-free number or start a live chat. You can also use a contact form to send a message directly. During tests, queries were answered swiftly and properly via all channels of communication. Pocket Option has an active presence on the main social media connections, so you can contact it openly on Facebook, Twitter and other popular social media platforms.
Pocket Option Pricing
Pocket Option is well-known in the binary options market for its large rewards. The smallest percentage you can make on a winning trade is 50%, although the average is much greater. You may generally expect a payoff of between 80% and 100% for successful high/low predictions. You can earn rewards of up to 218%, which is unheard of in options trading. Even the most renowned binary options firms only promise returns of up to 200%. Keep in mind that other forms of binary options trading — such as ladder/pair options or high/low trading — often provide higher rewards. This feature gives it a 5-star rating for customer pricing, based on comparisons with its competitors.
If you’re just getting started with Pocket Option, 15-second high/low options trades may be helpful, and they can potentially make money in a matter of minutes. When trading high/low options, however, you must be cautious since too many unsuccessful trades can soon put you out of business.
When you establish a live account with Pocket Option, you receive a 50% deposit bonus on your first investment. Pocket Option offers a range of assets with over 130 for you to choose from. Assets are divided into 5 categories, which include forex, cryptocurrencies, stocks, commodities and indices.
Pocket Option Mobile App
The mobile app is free and allows users to access all aspects of trading on stock and commodity exchanges on smartphones and tablets. It provides access to financial markets with the most accurate quotes without requotes or delays. It provides training materials, daily analysis, trading signals, built-in indicators and trading methods — essential information and analytical help that traders need.
Its investment app is a perfect way of getting real-time data. Forex signals are a great technique to obtain market movement advice on the internet and follow the mood of the market in real time. PocketOption pros share trading signals at no cost to you:
- Daily indications for 12 currency pairings and 10 trading tools in English
- Entry and exit signals updated in real time
- Daily signals from currency pairs, indexes and commodities
Based on these actionable tips, the mobile apps get a 4.5 star rating.
Pocket Option User Experience
The app and website are super-intuitive, and the demo account enables you to learn and implement strategies instantly. In addition to benefiting from in-app features, you can trade a range of assets at the click of a button. Add this to its 5-star customer service, and it gets a user experience rating of 4.5 stars.
Pocket Option Overall
Pocket Option deserves its 4.5 rating thanks to its intuitive platform and app as well as its commendable customer service that caters to your needs 24/7. It allows users to trade a significant number of different assets and provides a range of free tools such as social trading and analytical charts to support trading decisions. Its low minimum deposit, low trading fees and high payouts justify this rating.
Frequently Asked Questions
Is Pocket Option legal in the U.S.?
Pocket Option is legal in the U.S. and is regulated by the IFMRCC, an independent regulator for online broker companies. Companies are certified upon meeting a set of criteria.
How much money can you make on Pocket Option?
Returns depend on how much money you initially invested on the platform and whether your trades turn out to be profitable. However, you can earn up to 128% on investments, which is significantly greater than the 90% to 100% from other platforms.
Bottom line
There is some information you should verify before considering opening an account with any broker:
- Always double-check if the platform is regulated in major developed countries (US, UK, and EU);
- Search on reputable regulators’ websites (FCA, SEC,…) to check if the platform is registered or, on the other hand, is on a warning list;
- If you feel a “salesy” approach, dig deeper;
- Do not trust all reviews you read online (check several sources), particularly if no negative points are mentioned.
We hope you found this review useful!