Trading success depends on the trader’s profitability over time. Whether you’re an experienced trader or just starting out, finding the right trading platform is crucial. In this article, we will introduce you to Pocket Option, a reputable binary options broker that aims to provide traders with a reliable and user-friendly trading experience.
In our comprehensive Pocket Option review, we will provide you with a quick overview of this trading platform and dive into its features, services, and performance. We will explore its trading conditions, including available assets, trading instruments, and account types. Additionally, we will assess the platform’s functionality, user interface, and mobile trading capabilities to help you determine if it aligns with your trading preferences.
Our goal is to equip you with the necessary information to decide whether Pocket Option is the right choice for your trading journey. Join us as we delve into this comprehensive Pocket Option review and uncover the key aspects of this binary options broker.
What is Pocket Option?
Pocket Option is a well-known binary options trading platform established and owned by Gembell Limited. Since its inception in 2017, it has gained a solid reputation in the industry. Despite the risky nature of binary options trading, it is committed to providing a trustworthy platform for traders.
Creating an account on Pocket Option is simple, allowing users to start investing as traders quickly. With a wide range of over 100 services and instruments, it offers a global trading platform that caters to the needs of various investors. It also supports multiple payment methods, making it convenient for foreign investors to participate in trading activities. However, it’s important to note that Pocket Option only allows one trading account per user, which could be a drawback for some individuals.
Quick Overview: Pros and Cons of the Pocket Option Platform
Before deciding to engage in binary trading, it is essential to understand the benefits and drawbacks of utilizing the Pocket Option platform.
To offer a concise overview, the table below outlines the advantages and disadvantages of the Pocket Option. Its purpose is to assist you in making informed choices and assessing whether it is suitable for your trading goals and risk tolerance.
|With deposit fees
|With 100+ assets for trading
|With inactivity fees
|The process of deposit and withdrawal is safe and easy
|regulated by the IFMRRC
|With Social Trading feature
|Can create a demo account for free practice
|With 50% Deposit Bonus
|Five types of cryptos are available
|You can be paid up to 92%
Is Pocket Option Regulated?
Pocket Option claims to be regulated by the International Financial Market Relations Regulation Center (IFMRRC). However, the IFMRRC is not an official regulatory authority with the same level of oversight and credibility as recognized financial regulatory bodies.
Furthermore, the Financial Conduct Authority (FCA) of the United Kingdom issued a warning in September 2021 that PO Trade may be providing financial services or products in the UK without authorization from the FCA. This indicates that Pocket Option is not authorized or regulated by the FCA, which is a reputable regulatory body in the financial industry.
Key Features of Pocket Option
Pocket Option offers key features that make it a popular choice for binary options trading. These features enhance the trading experience and provide users with valuable tools and resources.
The platform has a user-friendly interface and a diverse range of tradable assets, catering to both beginners and experienced traders. It supports multiple payment methods, automated trading, and regulatory compliance for added security and convenience. Let’s delve into these features in more detail.
1. Multiple Trading Platforms
Pocket Option provides different trading platforms, including a web-based platform and a standalone Pocket Option Terminal application. The terminal offers advanced charting tools, technical indicators, and customizable settings for more advanced traders.
2. Mobile Trading App
This platform offers mobile trading applications for both iOS and Android devices. Traders can access their accounts, monitor the markets, and execute trades on the go, providing flexibility and convenience.
3. Account Types
Pocket Option offers different account types to cater to the needs and preferences of various traders. Here is a breakdown of the available account types:
- Novice Trader Account: This is the basic account type designed for novice traders just starting in the trading world. It offers access to the platform’s core features, including a demo account for practice, educational materials, and customer support.
- Experienced Trader Account: This account is suitable for traders with some trading knowledge and experience. In addition to the features available in the Novice Trader Account, this account type may offer additional benefits such as higher payouts, access to more trading instruments, and priority customer support.
- Master Trader Account: This is designed for more advanced traders with more experience and expertise. It may provide further enhancements such as personalized account manager support, faster withdrawals, exclusive bonuses, and advanced trading tools.
- Professional Trader Account: This is tailored for professional traders who have a deeper understanding of the markets and require advanced features. This account type may offer even higher payouts, customized trading conditions, VIP support, and exclusive trading opportunities.
- Expert Trader Account: This is intended for seasoned traders with extensive experience and a successful trading track record. It may provide elite features such as personalized trading strategies, premium research and analysis access, and invitation-only events or webinars.
- MT5 Forex Account: This account type is specifically designed for traders who prefer to focus on forex trading using the MetaTrader 5 (MT5) platform. MT5 is a popular and advanced trading platform offering various analytical tools, indicators, and expert advisors.
- Islamic Account: This is tailored for Muslim traders who follow Islamic principles and require a trading account that complies with Sharia law. It eliminates any interest charges (swap fees) on overnight positions, ensuring that trading activities align with Islamic finance principles.
4. Demo Account
This platform provides a free demo account that allows traders to practice their trading strategies and explore the platform’s features without risking real money. It’s an excellent tool for beginners to learn and gain experience in a risk-free environment.
5. Trading Assets
Pocket Option offers a variety of trading assets across different markets to provide traders with a diverse range of options. Here are some trading assets available:
- Forex: Pocket Option offers a wide selection of major, minor, and exotic currency pairs for forex trading. Traders can speculate on the price movements of currency pairs such as EUR/USD, GBP/USD, USD/JPY, AUD/CAD, and many others.
- Cryptocurrencies: The platform supports trading in popular cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), and more. Traders can take advantage of the volatility and price fluctuations in the cryptocurrency market.
- Commodities: Pocket Option allows traders to participate in commodity trading. Traders can trade various commodities like gold, silver, oil, natural gas, and agricultural products like corn, wheat, and soybeans.
- Stocks: The platform allows trading stocks of well-known companies listed on international exchanges. Traders can speculate on the price movements of stocks such as Apple, Google, Amazon, Microsoft, Coca-Cola, and many others.
- Indices: Pocket Option provides access to global stock market indices, allowing traders to trade on the overall performance of a specific market. Some popular indices available for trading include the S&P 500, NASDAQ, Dow Jones Industrial Average, FTSE 100, DAX, and Nikkei 225.
- Binary Options: The platform specializes in binary options trading, where traders can predict the direction of price movements within a predetermined time frame. Binary options can be based on various assets, including currencies, stocks, commodities, and indices.
- Digital Options: These are similar to binary options but offer more flexibility regarding expiry times and potential profit levels. Traders can trade digital options on a range of assets, including forex, cryptocurrencies, stocks, and commodities.
6. Social Trading and Signals Feature
Pocket Option offers a social trading feature that enables users to track and replicate the trades of successful traders worldwide. Within seconds of execution, traders can replicate winning strategies and customize trades to their own needs.
Additionally, users can broadcast their profitable trades, allowing them to share their expertise and attract followers. This feature creates a collaborative trading community, facilitating knowledge sharing and the potential for improved trading results.
In addition to social trading, Pocket Option also offers a signals feature. Professional traders or trading algorithms generate signals and indicate when to enter or exit a trade. These signals are typically based on technical analysis, fundamental analysis, or a combination of both. With the signals feature, traders can subscribe to receive these trading signals and use them to make informed trading decisions.
Fees and Commissions
Pocket Option has a transparent fee structure and generally does not charge any commissions on trades. Here are some key aspects related to fees and commissions on the Pocket Option platform:
- Trading Fees: Pocket Option does not charge any trading fees or commissions on regular trades. Traders can open and close positions without incurring additional costs directly related to their trading activity. This fee structure allows traders to keep a larger portion of their profits.
- Deposit and Withdrawal Fees: Pocket Option does not charge any fees for deposits or withdrawals. However, it’s important to note that fees charged by payment providers, such as banks or e-wallets, may apply. Traders should check with their chosen payment method provider to understand any potential fees that may be incurred during deposit or withdrawal transactions.
- Inactivity Fees: Pocket Option may charge an inactivity fee if an account remains inactive for a certain period of time. The specific details of the inactivity fee, including the time duration and amount charged, may vary. Traders should refer to the terms and conditions or contact Pocket Option’s customer support to understand the inactivity fee policy.
- Swap Fees: Swap fees, also known as overnight financing fees or rollover fees, are charges applied when a position is held open overnight. These fees are a result of the interest rate differentials between the currencies involved in a forex trade. However, Pocket Option offers Islamic accounts for traders who follow Islamic principles and require a swap-free trading environment.
Pocket Option Payouts
The Pocket Option platform offers competitive payouts across different asset classes, including stocks, forex, commodities, and indices. Here’s a breakdown of the payouts associated with each asset class:
- Stocks Payouts: Pocket Option provides the opportunity to trade stocks of well-known companies listed on international exchanges. The payout percentages for stock options can vary depending on market conditions and the specific stock being traded. While exact payout percentages may fluctuate, it is common to see payout percentages ranging from 70% to 90% for successful stock trades.
- Forex Payouts: Pocket Option offers a wide range of major, minor, and exotic currency pairs for forex trading. Payout percentages for forex options can also vary, depending on factors such as the currency pair being traded and market conditions. Payout percentages for successful forex trades typically range from 70% to 90%, providing traders with the potential to earn attractive returns on their investments.
- Commodities Payouts: Pocket Option allows traders to participate in commodity trading, including assets such as gold, silver, oil, natural gas, and agricultural products. Payout percentages for commodity options may vary depending on factors such as the specific commodity being traded and market conditions. Payout percentages for successful commodity trades generally range from 70% to 90%.
- Indices Payouts: Pocket Option provides access to global stock market indices, allowing traders to trade on the overall performance of a specific market. Payout percentages for index options can vary based on factors such as the specific index being traded and market conditions. Payout percentages for successful index trades typically range from 70% to 90%.
Bonuses, Promotions and Special Offers
Pocket Option offers a range of bonuses, promotions, and special offers to enhance the trading experience and provide additional opportunities for traders. Here’s a breakdown of the different types of bonuses and promotions available on the Pocket Option platform:
- Deposit Bonuses: This platform frequently offers deposit bonuses to traders. These bonuses are awarded based on the amount of funds deposited into the trading account. For example, a trader may receive a bonus of 100% on their deposit, effectively doubling their trading capital. Deposit bonuses can vary in percentage and may have specific terms and conditions, such as minimum deposit requirements and trading volume thresholds.
- Risk-Free Trades: Another common promotion on Pocket Option is the offering of risk-free trades. With this promotion, traders can make a specified number of trades without the risk of losing their invested capital. If a trade comes out of the money, the trader will receive a refund of their initial investment.
- Trading Competitions: Pocket Option organizes competitions or contests where traders can compete against each other to achieve the highest trading volume, profitability, or other performance metrics. These competitions often come with attractive prize pools, including cash prizes, bonuses, or even real-world rewards.
- Loyalty Programs: Pocket Option may have loyalty programs or VIP levels for traders who meet certain criteria. As traders progress through the loyalty tiers, they may gain access to exclusive benefits, such as personalized account managers, faster withdrawals, higher payout percentages, and priority customer support.
- Referral Programs: Pocket Option has referral programs that reward traders for bringing in new customers to the platform. Traders can receive bonuses or commissions based on the trading activities of their referred clients.
It’s important to note that bonuses, promotions, and special offers may come with specific terms and conditions that traders must meet before they can withdraw the bonus funds or profits generated from the promotional activities. Traders should carefully review the terms and conditions associated with each bonus or promotion to understand the requirements and any limitations that may apply fully.
Additionally, traders should exercise caution and ensure they are fully aware of the potential impact of bonuses on their trading strategies and risk management. While bonuses can provide additional funds to trade with, they may also come with certain restrictions or conditions that could affect the withdrawal of funds or trading flexibility.
Traders are advised to visit the official Pocket Option website or contact their customer support for the most up-to-date information on the available bonuses, promotions, and special offers, as they may vary over time.
Customer Service Support
Pocket Option offers customer service support to assist traders with their inquiries, technical issues, and account-related concerns. Traders can contact the support team through live chat, email, and phone, providing flexibility and convenience for seeking assistance. The customer service team aims to provide prompt and efficient support, responding to inquiries in a timely manner.
They offer multilingual support to cater to a diverse global customer base, ensuring clear and effective communication. Depending on the trader’s account type, personalized account managers may be provided to offer guidance and additional support.
Frequently Asked Questions (FAQs)
How long does it take to get verified on Pocket Option?
The verification process typically requires 1-3 business days to complete and is essential for the full utilization of a real account. Without completing the verification, it is not possible to withdraw funds from the account.
We strongly recommend initiating the verification process from the beginning to ensure the smooth usage of a real account. While the process is straightforward, it is necessary to comply with the implemented KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures on Pocket Option.
Is making a profit on the demo account possible?
Yes, it is possible to profit from the Pocket Option’s demo account. Its demo account allows traders to practice trading strategies and explore the platform’s features without risking real money.
Although the funds used in the demo account are virtual and not withdrawable, traders can still make a profit or loss that is reflected in the account balance. The demo account simulates real trading conditions, allowing traders to gain experience and confidence in their abilities.
However, it’s important to remember that trading on the demo account does not involve real money, and the profit or loss experienced does not directly translate to real profits or losses in live trading. Real trading involves risks and emotions, so it’s essential to approach live trading with caution, proper risk management, and a solid understanding of the market dynamics.
What is the Pocket Option Minimum Deposit?
The minimum deposit requirement on Pocket Option may vary depending on the account type and the chosen deposit method. However, the general minimum deposit on Pocket Option is $10. This means that traders can fund their accounts with a minimum of $10 to start trading on the platform.
Get a 50% bonus for your deposit by using our Pocket Option Discount Code.
How fast is withdrawal from Pocket Option?
The withdrawal typically takes approximately 3 to 5 business days for the funds to be credited to your account. The transfer involves passing through several payment processors and banks before reaching its final destination. It’s important to consider weekends and public holidays, as they may impact the overall timeframe for receiving your funds.
Please be aware that if you have pending verification documents, your withdrawal request might experience delays. Submitting the required documents promptly is crucial as part of the security measures. Ensuring all necessary documentation is provided without delay will help expedite the processing of your withdrawal request.
Conclusion: Should You Trade with Pocket Option?
After conducting a review of Pocket Option, it can be concluded that the platform offers a mixed bag of features for traders. It is an online binary options and forex broker that aims to provide a user-friendly trading experience.
One of its strengths is its accessibility and ease of use. The platform is designed to be simple and intuitive, making it suitable for both novice and experienced traders. Additionally, the availability of a mobile app allows traders to access their accounts and trade on the go, which can be a convenient feature for many.
However, there are several concerns that need to be taken into consideration. Firstly, binary options trading itself carries a high level of risk, and traders should be aware of the potential for substantial financial losses. It is crucial for traders to have a solid understanding of the market and the associated risks before engaging in binary options trading.
Another point of concern is the lack of regulatory oversight. Pocket Option is not regulated by reputable financial authorities, which means that traders may not benefit from the same level of investor protection and safeguards as they would with regulated brokers. This can be a deterrent for traders who prioritize security and trustworthiness.
Furthermore, some users have reported issues with customer support and withdrawal processes. Delayed withdrawals and unresponsive customer service can be frustrating for traders who require prompt assistance or quick access to their funds.
Considering these factors, it is important for traders to carefully evaluate their priorities and risk tolerance before deciding whether Pocket Option is suitable for their needs. While the platform offers accessibility and a user-friendly interface, the lack of regulation and potential issues with customer support and withdrawals should be taken into account.
Ultimately, traders should conduct thorough research, explore alternative options, and consider their own preferences and risk tolerance before making a decision.