What you need to know about Pocket Option
In case you do not want to read the full review – I decided to list in points the most important information you need to know about this broker before registering. If you are interested in more details, read the full review below.
If you decide to open account using links on our website – you’ll receive 50% deposit bonus!
A few words about Pocket Option
In this article, I will introduce you to my favorite broker, Pocket Option. It is a platform that was established in 2017 and has won the hearts of traders around the world. The broker is characterized by innovation, a friendly trading platform and a free demo that allows you to test the broker’s services without risk. I have been using this platform for 2 years and I think my opinion will be credible – I will tell you about the pros and cons of Pocket Option. The first downside I have to mention from the start is the lack of major regulation.
The broker is based in Seychelles and therefore can provide services all over the world. If Pocket Option were to establish a seat in Europe or the United States, it would be illegal to use a broker. So on the one hand, the lack of regulations means that we should be careful about the services of this broker, but on the other hand, we are not limited by regulations. Over the last 2 years, I have not had any problems with the quality of service or with payouts. My friends to whom I have recommended this broker are also satisfied and there were no unpleasant situations. Therefore, at the outset, I can say that the broker is reliable. Now let’s move on to a detailed review.
|Registration address||Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960|
Licence number: TSRF RU 0395 AA Vv0158
Phone: +44 20 8123 4499
Trading Platform of the Pocket Option broker
We come to the heart of Pocket Option, i.e. the trading platform. Pocket Option has one of the most advanced platforms on the market, which is equipped with the latest technologies and easy access to world information. After logging in to the broker, you will see the view shown in the attached picture. On the left side there is a control panel where we can change the type of instrument, check financial reports, view the profile, visit the market, see achievements or write on a social chat or write to the support.
On the right side you will find the transaction history, signals provided by the broker, social trading function, express trading, contests and pending orders. Here it is worth mentioning trading signals that I do not recommend. As I mentioned in the introduction – binary options brokers earn from the losses of clients so it does not pay off for them to offer signals that are effective.
Therefore, in your position, I would use the services of signal providers that are not tied to any particular broker. The social trading feature allows you to copy the games of profitable traders, so you can make a profit without having any advanced knowledge. However, it is not easy to find traders who make long-term profit. I have a separate article about this feature, which you can read by clicking here.
In the top left corner of the screen you can manage the chart parameters by selecting the instrument you are interested in, change the chart type, add indicators, use drawing tools or set up several charts on one screen. The broker has a satisfactory number of indicators that will be enough for beginners and more advanced traders.
I must admit that I really like the Pocket Option trading platform. It works quickly and without any jams. In addition, it is regularly updated and from time to time new instruments, functions or improvements appear. If someone prefers mobile trading, Pocket Option also has an application for Android and iOS phones. The application for the phone is a bit limited compared to the browser version, but I believe that it is completely sufficient to include a dozen or so items in your free time at work. If you want to download the application to your phone, click this link and download the application to your phone.
Pocket Option Trading Signals – Is it scam?
An interesting feature that you will find on the trading platform are signals. On the right side of the screen there is the “Signals” tab. After clicking on it, a list of assets will appear and a suggested direction of trading along with the expiry time. I tested this feature and unfortunately the results disappointed me a lot. I opened 100 positions, of which only 45% were correct.
To make matters worse, the broker often suggested investing in currency pairs that had low returns on investment (up to 50% of the return). Investing on assets with such a low level of return forces the trader to achieve very high efficiency.
My observations show that the best traders can achieve accuracy at the level of 65-70%. Even with such efficiency, investing on currency pairs with a maximum return on investment of 50% is not profitable. Fortunately, the feature is also available on the demo account. If you feel like it, open a free demo account from the link below and test this function. Let me know in the comment what results you have achieved and whether you are satisfied with the results.
Copy Trading Feature
One of the flagship functions of Pocket Option is the ability to copy earning traders. Thanks to the Social Trading function, which you will find on the right side of the transaction panel, you can easily follow the results of other traders, and if one of them interests you, you can start copying his transactions with a few clicks. When testing this feature, I noticed that copying often turns off by itself, but I think it’s just a software problem.
We can choose from a lot of settings and configurations in which we want to copy the games of others. We can choose the proportions, the maximum bid and specify when the copying should stop. The downside to this feature is that you cannot test it on a demo account.
To enable copying you need to make a minimum deposit of $50 and try your hand at a real account. Nevertheless, I recommend checking this feature and copying traders who have as many open positions as possible and at the same time are in long-term profit.
Thanks to this, you will choose traders who know what they are doing, and your funds will be safer. However, in the long run, I would focus on learning how to make money in the stock market on your own – relying only on copying others may not be the best solution. I suggest that you allocate no more than 20% of your entire deposit to copying. Re-invest the rest by learning to invest yourself. You can find a full review of this feature on our website by clicking on this link.
Pocket Option’s Tournaments
Pocket Option offers contests with a prize pool of up to $ 50,000. To enter the competition, click the “tournaments” button on the right side of the platform and select the competition you are interested in. High prize pool competitions require an entry fee of several dollars. Payment is taken directly from your trading account. There are also free concerts, but as you probably expect, there is a lot of competition and the prizes are relatively small. I suggest you use paid tournaments because it’s easier to win something.
After signing up for the tournament, your account will be converted into special virtual funds. You will receive $ 1000 and your task will be to multiply that amount as much as possible. If you take first place in the table, you will win the main prize. If you are in a slightly lower position, you will receive a consolation prize. It is an interesting form of diversifying the time we spend on the platform and it arouses great emotions – especially when you are one step away from winning the main prize!
Deposit and withdrawals at Pocket Option
Making your first deposit is very easy. However, the methods available in your country may differ from those in the attached image. Pocket Option adjusts the deposit methods to the prevailing trends in individual countries. The easiest and fastest method of depositing funds is to use a payment card – just click the “deposit” button in the upper right corner of the screen and select the card as the deposit method. Then enter the amount and complete the transaction. The funds will be credited to your Pocket Option account within minutes.
If a card deposit is not possible, use cryptocurrencies or Coinbase Commerce. You will need a cryptocurrency wallet for this, which you can open here. Then load the wallet with a card or transfer and return to Pocket Option. Select Coinbase as your deposit method and log into your cryptocurrency wallet. Then confirm the transaction and you’re done. Cryptocurrency transfer takes about 30 minutes.
Available deposit and withdrawal methods:
- Binance Coin
- Bitcoin Cash
- Tether TRC-20
- PAXOS Standard
- USD Coin
- USD Tether
- True USD
- Perfect Money
Commissions & Fees
Pocket Option does not charge any commission on deposits or withdrawals. If you use the card deposit option, you must remember that the bank may charge a commission for currency conversion. Such a commission, depending on the bank, ranges from 2% to 6%. However, there is no commission from Pocket Option. No deposit commission, no withdrawal commission, no trading commission. The only exception is the withdrawal with Perfect Money, which charges a commission of 0.5%. However, if you use other deposit / withdrawal methods, you will not pay any additional costs.
Pocket Option Bonuses
Pocket Option offers bonuses and promotional codes on its platform. This is a great feature that allows you to reduce the broker’s advantage over the client. Bonuses allow you to collect additional funds for trading, and special promotional codes allow, for example, to cancel a losing transaction. There is something like a “market” on the broker platform that allows you to exchange gems or real money for the mentioned bonuses and promotional codes.
You get Gems for depositing, trading, withdrawing, and general activity on the platform. I really like this approach because it is like a game where we exchange gems for bonuses. Few brokers offer bonuses, and even fewer platforms offer them as such. Of course, deposit bonuses aren’t given away completely for free – there’s a little catch here. You can take advantage of the bonus, but you need to make the required spin to withdraw money.
Fortunately, the broker is honest and knows that not everyone is reading the terms and conditions, so they can cancel the bonus and withdraw funds immediately. You do not have to worry about freezing the funds on your account because you have not read the regulations carefully.
Pocket Option offers several types of bonuses:
- Welcome Bonus – If you open an account using the button below, you will receive a 50% bonus on the first deposit you make on the platform
- Replenishment Bonus – This is the standard deposit you will receive when you decide to deposit funds again. The size of the bonus depends on the size of the deposit. The minimum deposit is $ 50 and the bonus you can receive is 20%. If you decide to deposit over $ 10,000, you will receive a 50% bonus. As you can see, the amounts are very large, so I recommend using promotional codes on the Internet. You can find this code at this link. This article is updated every month and the code you find there is always up to date.
- Cashback – with gems you can buy cashback, which will allow you to recoup some of your losses. Cashback can reach up to 10%. If, for example, you lose $ 1000 within a month, the broker will give you back $ 100. This is a good hedge in case your trading doesn’t go your way.
On the web you will find many promotional codes provided by Pocket Option partners. You can use each of these promo codes only once, so I recommend that you make a list of people from whom you will download a new promo code every month. I would like to remind you that if you are interested in a 50% deposit bonus, you can use our website on which the promotional code is updated every month. If you do not have an account with the broker and decide to open an account from our link, you will automatically receive a 50% deposit bonus without having to rewrite our code.
It is worth mentioning that the bonuses are closely related to the achievements on the platform. Pocket Option rewards the trader each time you deposit, trade or withdraw. Each profit record is rewarded with gems, which you can exchange using the “Market” tab on the left side of the platform. The more achievements and gems you earn, the better bonuses, promo codes and cashbacks you can get. I like this feature a lot because it looks like computer games, and trading ceases to be a serious activity and starts just having fun.
Registration and verification
Verification is very simple and runs smoothly. Any broker wishing to operate according to the plan must have appropriate client verification. The aforementioned verification serves to prevent customers from laundering dirty money by declaring revenues from illegal sources as profit on the stock exchange. Therefore, it is necessary to send a photo of an ID document and confirmation of the address of residence.
As proof of identity, you can use documents such as:
However, if you want to confirm your address, you must send one of the following documents:
-Bills for utilities
-Confirmation of payment
In theory, verification may take up to 7 business days, but in practice it does not take more than 3 days. It’s a good idea to verify your account right after signing up to be able to unlock your withdrawals. Without verification, you can deposit money using the available methods and trade. Withdrawal will only be possible after completing the verification process.
Free Demo account on Pocket Option
Nowadays, virtually every broker offers a free demo account. So it’s no surprise that Pocket Option also offers them. You get 10,000 virtual dollars that you can top up at any time. I remind you that this is an honest review so I must point out that I advise against trading on a demo account with binary options brokers because the broker’s intention is to encourage you to deposit as much money as possible.
Pocket Option’s Regulations
Unfortunately, Pocket Option does not have any state regulation. There is indeed a certificate issued by
IFMRRC, but it should be noted that this is not anything specific. IFMRRC is a private company that conducts an audit and on its basis determines whether there is a high suspicion of fraud or not. However, if the broker decides to manipulate or cheat, IFMRRC cannot help you in any way.
This is a definite disadvantage of this broker, but due to the fact that Pocket Option does not have any regulations, it is not limited territorially. Pocket Option can provide its services in the territory of both the European Union and the United States. Responsibility for compliance with the laws of specific countries shifts to the customer.
Here it is worth recalling the list of the most respected regulators in the world. If your broker is regulated by at least one of the institutions from the list below, you can be absolutely sure that your funds will be completely safe. Each of the aforementioned regulators is certified by the state, which means that it has a real impact on drawing legal consequences for a specific platform. In the event that the broker deceives its clients and tries to disappear with the client’s money, all of the company’s assets will be monetized and the funds will be returned to the clients.
If the broker does not have any regulations, unfortunately such a procedure is not possible, and recovering money from brokers is almost a miracle. Here, by the way, I warn against companies offering recovery of money lost with brokers – there are a lot of such companies on the Internet and each of them is a scam based on people’s desperation. Below is a list of the best state regulators:
- ASIC – Australian Securities and Investments Commission
- BaFIN – The Bundesanstalt für Finanzdienstleistungsaufsicht (Germany)
- CFTC – Commodities and Futures Trading Commission (United States)
- CySec – Cyprus Securities and Exchange Commission
- FCA – Financial Conduct Authority (United Kingdom)
- FFMS – Federal Financial Markets Service
- FINMA – Swiss Financial Market Supervisory Authority
- FMA – Financial Market Authority (Austria)
- FSA – Financial Services Agency
- FSB – Financial Services Board (South Africa)
- Financial Services Commission – BVI
- Financial Services Commission (FSC) – Mauritius
- IFSC – International Financial Services Commission
- FSP NZ – New Zealand Financial Service Provider
- ISA – Israel Securities Authority
- MFSA – Malta Financial Services Authority
- SEBI – Securities and Exchange Board of India
- VFSC – Vanuatu Financial Services Commission
- UAE – Abu Dhabi Central Bank
Binary options brokers profit from client losses, so I wouldn’t be surprised if brokers were deliberately letting you win on a demo account to encourage you to make a deposit. I admit that I did not feel manipulated trading on the demo account at Pocket Option, but I prefer to warn you about it just in case. I definitely recommend making the minimum deposit and trading with the smallest amount possible.
To start trading on a demo account, all you need to do is log in to the Pocket Option format and select the “Trading” tab on the left side of the screen. Then a window will appear in which you have to choose which mode you are interested in. If you want to trade on binary options select “Quick Trading Demo”. If you decide to trade on a real account, after making your deposit, select “Quick Trading Real Account”.
This way you can be sure that the broker will not manipulate the price in your favor and you will see what the real market looks like. To open a free demo account, click on the green button below:
Our team conducted a study in which they checked in which countries the Pocket Option broker is the most popular. Below is a list of 10 countries where the platform is particularly popular. If you live in one of the countries listed, there is a good chance that this broker is right for you. A large number of customers from a specific region inform us about how well the company matched the offer to a specific market. If a lot of people in a given country use the services of a broker, it means that the offer is perfectly tailored to the selected region. Most often, the greater the popularity, the more deposit / withdrawal methods, greater asset selection or native language support. I encourage you to read the list below:
- United States – 56%
- India – 10%
- Russia – 7%
- France – 6%
- United Kingdom – 4%
- Germany – 4%
- Indonesia – 3%
- Ukraine – 3%
- Nigeria – 2%
- Australia 2%
The list above was compiled on the basis of statistical data on website traffic. For the percentage statement, we included only the 10 most popular countries that generate the most traffic. The fact that your country is not on the list does not mean that the broker does not provide services in your country. It’s just that in other countries this broker is more popular.
According to the available traffic statistics, Pocket Option is on a wave and is generating more and more traffic from month to month. The great interest in the platform results from the large number of easy-to-use functions. Virtually everyone, even a beginner trader, can open an account in a few minutes and start their adventure in the world of binary options. With a bit of luck and a lot of study, chances are you can earn a lot of money.
It is no wonder that more and more people are interested in this broker. I will not be surprised if Pocket Option becomes one of the industry leaders in terms of the number of customers in the next few years. At the moment, the leader is IQ Option, which has over 100 million customers. Pocket Option is estimated to have about 12 million customers at the moment and is gaining popularity much faster than IQ Option. Will you join the trend and start using the services of this broker as well?
Summary on Pocket Option
In my opinion, Pocket Option is one of the best binary options brokers you can find on the market. The platform develops regularly and there are new features in the Trading Room every few months. The huge advantage of Pocket Option is the small first deposit amount of just $50.
If you live in India the minimum deposit is only $10. I really like the bonus system of this broker because you can easily get additional funds for trading, but if you decide that you want to withdraw money early without making a proper turnover, you can cancel the bonus and withdraw the funds. It is a very honest approach to the client.
The only drawback of this broker is the lack of sensible regulation that would protect the client from potential fraud. Unfortunately, we live in a time of regulation, which often limits the availability of some instruments – in this case, the lack of regulation is associated with lower-quality client protection, but virtually anyone anywhere in the world can try their hand at binary options.
I can recommend this broker with all my heart and I hope you will be as happy with their services as I am. Below is a green button from which you can open a free demo account!
So… is Pocket Option a scam?
In my opinion, absolutely not. I know many people who have been using the platform since its inception and no one has ever had a situation where the broker did not want to withdraw the money earned. Pocket Option is growing regularly and absorbing more and more competitors’ customers, and I think a possible attempt to cheat would be a shot in the foot.
The broker makes a lot of money by offering great quality services, so there is no reason for anyone to try to cheat clients. You certainly have to take the correction for the lack of any sensible government regulation, but as I mentioned earlier – the lack of regulation has both advantages and disadvantages.
What users think about Pocket Option?
We are going to take a look at a few select reviews about the Pocket Option broker that we found on verified review sites. On Trustpilot, famous for its credibility, the broker has a high rating of 4.4 based on as many as 1,600 ratings. The broker encourages feedback regardless of whether the client can write a positive or bad review.
Hello, my name is Tatjana , from Serbia Novi Sad. I deposited money to this website not long ago, maybe a month ago. I practiced on my demo account before i started trading with real money.In the beginning i did low amount trades (2-5$) after i got more confident i did higher amounts. I made over 400$ yesterday and i requested bitcoin withdrawal. After i verified all my info my money arrived on my coinbase wallet within 2 hours. This broker is not a scam and fraud, they sent my money as fast as possible and with no fees too. I would recommend this to everyone who is trying to start binary options. Thank you Pocket Option!Tatjana Nikolic
I’ve been trading with pocket option for some time now, and I must say their platform is super clean, easy to trade on. With all the indicators, the gems rewards and the new update they did with the stocks and trade time it makes it easier for traders to trade in the market. I would definitely recommend pocket option as a broker.Naths
the best platform ever!! i enjoy trading here. I’m still new and I’m in love with the way this broker operate. i recommend anybody who want to trade binary option on this broker. withdrawals are instant, quick support and Public charts are just superb. thank you pocket option you gave me a chance and a reason to live. I have never get employment anywhere till I found this broker and they gave me that chance. thank you thank you thank you POCKET OPTION.oduor A.
At first I was very skeptical about trading using pocket options but man I am glad that I still went ahead and tried it, because this platform has been nothing but awesome , I am very happy with their user friendly platform they have made my trading experience the best. I also thought it was going to be hard to withdraw money like in other platforms but when I requested a withdrawal it didn’t even take a day to get my money, so I am happy with them, I would definitely recommend using pocket options.Johan M
I was looking for a broker which i can trust. by a chance i found the pocket option website so i decided to give it a try. i started on 16 jan 22 by reaching 23 jan 22 i had 2160$ as profit. For sure i was uncertain if i will be able to withdraw the money invested and my profit but that uncertainty vanished when i received the full amount yesterday 3 days after my request.
Pocket option is not a scammer and very happy that i have traded on their platform and i will for sure continue trading.
Anyone how want to verify this is my Pocket option ID: 26152781Alaa Ahmed
As you can see, the opinions are largely positive. I also found some negative reviews that seem to be untrue. Mainly because the problems they describe do not exist on the platform. For example, a user with a 1-star rating says that he was contacted by an investment advisor and advised him on how to invest money. The problem is that Pocket Option does not contact clients for investment advice, so this type of feedback is obviously a scam.
If you decide to open account using links on our website – you’ll receive 50% deposit bonus!
Is binary options trading legal?
You may have heard that binary options are banned or illegal. This is true in part, but not entirely. ESMA has introduced a binary options ban in the European Union, which means that companies providing services with a European license (or based in the European Union) cannot offer binary options in their offer. However, if you are a resident of the European Union, you can easily register on a platform from outside Europe, which can provide services to clients from all over the world. So the binary options ban only applies to companies that deal with finance, in specific regions of the world.
You as a customer are completely safe and you are not threatened with any legal consequences. The only thing you risk is your own money that you can put into a dishonest broker. I mentioned this earlier – choose a broker who has the trust of the community and you know that it will not disappear with your money.
How much can you make trading Binary Options?
This is a very difficult question because there is no clear answer to it. Theoretically, the limit of your earnings is only your imagination and theoretically you can earn millions on binary options. But it’s practically impracticable to go from zero to millionaire. Binary options brokers make money like a casino – they rely on probability.
If you don’t have any advantage over the market or know how the stock exchange works, you have a 50% chance of winning. Returns on investment are always below 100%, which means you won’t make money if you don’t have an edge. The best traders achieve long-term success of 65%.
Most of the earning traders oscillate between 56-60%. If you manage your capital properly and you have a good year, you are able to earn 100% of the invested capital during the year. I know it doesn’t sound as attractive as it does in YouTube videos, but it’s true.
Don’t be naive and don’t think that you will suddenly become a multi-millionaire without knowing anything. It is definitely worth learning to invest in binary options because the rate of return is definitely better than a bank deposit, but remember that it requires learning, experience and learning from your mistakes. If you risk excessively, you will burn every profit earned by some stupidity.
How to choose binary options broker?
Nowadays, choosing the right binary options broker is not easy. Binary options are banned in many countries, and supplier certification cannot provide binary options in the European Union and the United States. This means that only unregulated entities that are not based in the European Union or the United States can provide services to clients from all over the world.
Lack of government regulation means that there are a lot of scammers and companies on the market whose sole purpose is to get money from you. The scam broker will often trick you into making a deposit and then disappear with your money. That is why it is worth knowing what exactly to pay attention to. In my opinion, it is good to choose popular platforms that you can be sure will not disappear from the market right after receiving the deposit. On our website you will find rankings and reviews of the best brokers in the industry. If you register with any of them, you can be sure that you will not be scammed.
We always test the forex and binary options platforms very thoroughly. We never register using our company email, so as not to wake you up. We always trade on the platform for at least a month and make multiple deposits and withdrawals. If everything goes smoothly, and the operation of the platform itself does not arouse suspicions, we can decide to recommend a broker on our website. First of all, we want you to be safe. Therefore, choose the platform that you will find on our website and do not risk opening an account with a broker that is unknown to anyone.
If you have this privilege and live in a country where binary options are not banned then your situation is easier. Choose a broker that has regulations in your country and you don’t have to worry about anything else. If the broker has a government regulation, your funds are 100% safe and even if the broker goes bankrupt for some reason, you will receive compensation from a special fund. Also remember not to trust any broker for their word. Trading platforms very often want to make a friend of themselves for the trader by suggesting profitable strategies, offering signals or systems for money management. Remember that brokers earn from clients’ losses and it is not profitable for them to earn money on their platform. If you are making money, the broker loses, so don’t listen to brokers’ advice and use your brain to make decisions. If the broker offers you a strategy, it is because he knows that you will lose money in the long run and the broker will earn his commission.