Pocket Option review 2021 – everything about trading conditions, regulation and reliability, trading platform, deposit and withdrawal, demo, bonus, app, etc. We will also find out if PocketOption is legal or a scam broker, and show all its pros and cons.
The Pocket Option review is large enough, but be sure to read it before trading with a broker.
PocketOption is an online trading broker offering forex, binary & digital options trading. The broker deserves attention, he has an interesting loyalty program, bonus with the possibility of withdrawal, and regular tournaments.
Content
Trading conditions on Pocket Option
| Official site | www.pocketoption.com |
| Year of foundation | 2017 |
| Regulated by | Financial Commission |
| Trading instruments | 55+ assets Forex, digital and binary options on currencies, cryptocurrencies, stocks, commodities, OTC |
| Average and maximum profitability of BO | 70%-80%, up to 200% for DO |
| Options expiration time | 30s – 4h |
| Most popular | Pocket Option in Trinidad and Tobago, Iran, Russia, Somalia, Pakistan, Bangladesh, Nigeria, South Africa, Poland, Canada |
| Provision of services in the US, UK, Canada, European Economic Area | The UK and Canada The US and the European Economic Area. |
| Min. trade size | 1 $ |
| Account types | Stranger, Newbie, Beginner, Experienced, Master, Pro, Guru |
| Minimum deposit | $ 50 |
| Minimum withdrawal | $ 10 |
| Deposit & withdrawal methods | 15+ |
| Payment Fees | |
| Trading hours | 24/7 |
| Trading platforms | Proprietary platform, MT5 |
| Mobile App | |
| Demo | |
| Copy Trading | |
| AT/Robots | |
| Bonus | Up to 100%+ |
| Affiliate program |
Is PocketOption legit or scam broker?
Pocket Option started operating in 2017 and is owned by Gembell Limited, which is registered in an offshore zone on the Marshall Islands. Gembell Limited is regulated by FMRRC (License number TSRF RU 0395 AA Vv0141).
The FMRRC regulator is non-governmental with a low level of trust. The license of this regulator is practically useless for traders and doesn’t show that Pocket Option is a reliable, safe and legit broker. However, trading in binary options is not regulated by government regulators that you can trust. Therefore, the presence of regulation in a binary options broker is often a formality.
On the official site of Pocket Option, you can review all the necessary agreements and legal information that is needed for safe trading. PocketOption trading conditions raise slight suspicions of fraud.
Payment transactions have several levels of security, all your data is securely encrypted.
We also found a lot of negative reviews from traders about the broker on many Internet resources. And many of them look authentic.
Pocket Option isn’t a legal and safe broker, but it isn’t a scam either. This is something in between. At the very least, you can definitely withdraw funds upon request and no one interferes with your trade. But there are a few suspicious points that arise when trading.
Trading platform & offers
Immediately after registration, you login the Pocket Option trading platform.
There are 6 sections on the “Trading” tab, depending on the choice of a trading instrument and a demo / real account.
A real trading platform cannot be opened until you deposit your account with a minimum deposit. For trading binary and digital options, the minimum deposit is $ 50 (there are often promotions to reduce this amount to $ 5-10), for trading on Metatrader 5, at least $ 1000.
We will not make an “excursion” on the designation of the elements, we will analyze all the important points during the review. So, let’s say you have already made a minimum deposit and are trading on a live account.
Firstly, at the top, you select a trading asset, of which there are now about 55+. But there is a note: most often, about 10-15 currency assets are available for trading binary and digital options, the average profitability of which is 70-85% (max ~89%). The rest of the assets are OTC (over the counter), trades in which are concluded between platform traders without going to the trading exchange. For OTC assets, the average profit is about 80-92%.
Next to the assets, you can select the type and timeframe of the chart, as well as trading indicators and charting tools. With this, PocketOption is doing well: there are many timeframes (14) and indicators (26) for short-term and long-term analysis. Nearby, you can enable or disable the display of the scale of sentiments and deals of other traders.
Demo and live trading
We continue our review of the Pocket Option trading platform.
At the bottom there is a panel for opening deals, in this case, digital options are selected. The expiration time of options from 30 seconds to 4 hours is quite suitable for fast and intraday trading. The minimum transaction amount is $ 1, there is no maximum limit.
When trading on a Pocket Option demo account, almost all trades are opened instantly. And when you start trading on a real account, there are delays in opening positions (even if there is no delay in communication with their data center). About 6 out of 10 trades are opened with a significant delay of more than 1-2 seconds. During this time, the price may change. Also, at the end of the expiration period of the options, the platform can also “think long” (lag).
In addition, you can trade the Forex market using metatrader 5. However, to trade on a real account, you need at least $ 1000.
Features of Pocket Options platform for binary and digital options
Now let’s move on to an review of the features of the Pocket Option trading platform.
The scale of traders’ sentiments (above the bar for opening deals) is practically useless in this case. It can change to an absolutely opposite one within a minute, not correspond to signals and even more so to the real movement of the chart.
Signals – similar to the mood scale. It is not known what analysis these signals are based on, many of them do not correspond to signals from major analytical sites. In any case, PocketOption is not responsible for their correctness and risk when using them.
Social Trading / Copy Trades is the third in a row useless feature that is worse than the others and looks like a fake (scam?!). Here is a list of top traders for 24 hours whose trades you can copy.
When you open their profiles, you can see that they did not trade today and yesterday, but almost all of them have a huge loss for the entire trading time. First of all, check out the full ranking and make sure the trader has a profit all the time. Still, it’s better to completely forget about the existence of this function.
Express trading is a rather rare function among brokers (almost no one else has it). Express Trading is a consolidated forecast based on several events (3+). Reminds of express bets at bookmakers. The payouts of all forecasts within the express order are multiplied, as well as the risk. Express orders are an incredible risk, and it’s better to forget about their existence too.
Tournaments are an opportunity for very experienced traders to make money. To take a prize place (there are 50 of them), you will have to multiply your starting balance by 20-100 times. There is also one free tournament.
A pending trade – great for buying / selling an asset at a specific time or at a specific price.
Hotkeys – quick change of trade parameters.
Account types and loyalty program
PocketOption has 7 types of accounts. Each next type of account includes all the benefits of the previous types.
STRANGER [Without deposit]
- Unlimited number of opened trades
- Unlimited total sum of open trades
- Free tournaments
NEWBIE [Balance less than $100]
- Chat with other traders
- Gifts
- Marketplace
- Tournaments with substantial prizes
- Max trade amount $1000
- Social trading
BEGINNER [Min balance: $100]
- Gems lottery
- Express Trades
- Trading achievements
EXPERIENCED [Min balance: $1000]
- Increased payout +2%, when available
- MT5 forex trading
- Premium gifts
- Extended list of items in the market
MASTER [Min balance: $5000]
- Increased payout +4%, when available
- Refunds for trades with a 1 point difference with amount up to $10
- Withdrawal processing priority
- Personal discount in the market
- Max trade amount $2000
PRO [Min balance: $15000]
- Increased payout +6%, when available
- Refunds for trades with a 1 point difference with amount up to $50
- High withdrawal processing priority
- Personal manager
- Max trade amount $3000
GURU [Min balance: $50000]
- Increased payout +8%, when available
- Refunds for trades with a 1 point difference with amount up to $100
- Extended list of indicators
- Max trade amount $5000
The biggest drawback of this loyalty system for traders is that all account types are valid only if there is a certain balance. For example, if you have $ 15,500 on your balance, you will have the Pro account type. If the balance becomes $ 500, the account type will become Beginner.
Market and bonus promo code
The loyalty program also includes the purchase of various trade advantages in the market. Purchases are made for gems or funds on your account balance.
Gems are a kind of additional local currency and can be obtained in a variety of ways:
- For trading activity and achievements
- Participate in the Gems Lottery
- Start mining
- You can buy or exchange gems on the market
- Sell unwanted items in the Market
In the market you can purchase bonus promo codes, a bonus on the balance, risk-free trades, cashback, boosters, prolongators, gems, chests and VIP tickets.
You will only be able to use most of the benefits of the market when you reach a certain level. Experience is gained for making deals and achievements.
When making a certain deposit on the Pocket Option platform, you can use a bonus promo code. You can execute the bonus and withdraw it if your net trading volume is the size of the bonus × 50 – × 100 (except for copied trades).
In case a withdrawal takes place before the bonus is executed, your active unexecuted bonus will be deducted from your Live account’s balance.
But it is better to take it, because you will not lose anything. Usually its size is 20% -100%. You can use the bonus promo code 100BONUS (+ 100% with a minimum deposit of $ 100).
Overall, the loyalty program is unique and very good.
Deposit and withdrawal
Pocket Option offers more than 15 deposit and withdrawal methods / options. For deposit and withdrawal, you can use credit cards, e-wallets and cryptocurrency.
The most common methods for all countries are Visa / Mastercard, WebMoney, Jeton, Perfect Money, Payeer, AdvCash, Bitcoin and Tether. Like many major brokers, PocketOption offers local deposit and withdrawal options. FasaPay is available in Indonesia, Boleto is available in Brazil, etc.
On the Pocket Option platform, the minimum deposit is $ 50, but there are often promotions to reduce it to $ 5-10. The minimum withdrawal is $ 10. There are no maximum limits.
After you create a withdrawal request, it goes to the processing queue, which takes up to 3 business days. In most cases, the payment can be instant, however, certain transactions can be processed up to 14 working days in accordance with clause 6.9.2 of the Public Offer Agreement.
You will need to do verification to withdraw funds. Please note that you can withdraw funds via the methods that you previously used for depositing on your trading account.
In addition, remember about active bonuses on your account.
Pocket Option app for PC, Android and iOS
You can download Pocket Option mobile app for Android (Google Play) and iOS (App Store).
Some people cannot find it because it is called PO Trade. The mobile application for Android and iOS has the same functions as the web platform. It provides quick access to trading from anywhere with a stable internet connection. However, in the reviews you can see that sometimes there are lags.
There is also a Pocket Option PC app for Windows, which you can download on the official website after registration. To do this, open the “help” tab on the left side of the platform and select “Apps”
When you click on the link below, you will receive a 100% Bonus with a minimum deposit of $ 100 using the promo code 100BONUS.
Pros and Cons
Pros
Regulated by FMRRC. Has been working since 2017.Low minimum trade ($ 1), deposit
($ 50) and withdrawal ($ 10)
Good average and maximum profitability of binary and digital options (70%-80%. Max ~200% for DO)
Special platform features (For example, tournaments, pending trades, hotkeys)
Many time periods of the chart (5s – 1d) and trading indicators (26)
Many deposit and withdrawal methods (15+), no fees.
Trading available 24/7 (OTC on weekends)
There are 100%+ deposit bonuses that can become real funds
Unique and very good loyalty program
Unlimited demo account
Apps available for pc and mobile
Good FAQ and support 24/7
Free introductory education
Cons
Few major trading assets with good profitability and too many OTC assetsFrequent lags and delays when opening positions
Most of the platform’s features can lead to losses and it is better not to use (For example, the scale of traders’ sentiments, signals, social trading, express trading)
Real forex trading is available with a deposit of
$ 1000
Bad special offers of different types of accounts
Conclusion
As a result of the review Pocket Option, we can conclude that it’s a low-trust broker with some signs of fraud.
It has many advantages, among which we can especially note the loyalty program and bonuses. The broker provides everything you need for fast and intraday binary and digital options trading. In addition, with it you can trade on the forex market via the Metatrader 5.
The broker also has disadvantages and they are quite serious. Too few major trading assets and too many OTC assets, frequent lags and delays, and many features that can lead to losses.
Is it hard to say if all this was done on purpose, or is it worth considering that the platform has been operating since 2017 and is constantly developing? Only Pocket Option knows the true answer to this question.
If you click on the link below, you will receive a 100% bonus with a minimum deposit of $ 100 using the promo code 100BONUS. But it is still better to choose another broker from the binary options rating.
Accepted countries
Pocket Option accepts traders from most countries, including Trinidad and Tobago, Iran, Belarus, Uzbekistan, Russia, Bangladesh, Nigeria, Ukraine, South Africa, Pakistan, Philippines, India, Indonesia and others.
Prohibited countries: the EEA countries, USA, Israel, Japan.
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