Is The new broker ”Pocket Option” a reliable company? Or is it just another scam in the world of online trading? We have thoroughly investigated who is behind this platform and what determines its rapidly growing popularity among traders around the world. Read our full review of Pocket Option and check if it is worth investing your money with this relatively young broker.
Contents
What is Pocket Option?
Pocket Option is primarily a binary options trading platform. Pocket Option is the name of the platform, and the company behind the platform is Gembell Limited. Gembell Limited is a company registered in the Marshall Islands as a Trust Company Complex.
How legit is Pocket Option?
The company is regulated by IFMRRC (license number is TSRF RU 0395 AA Vv0158). The IFMRRC is an independent body whose mission is to regulate the quality of services provided by brokers and services related to the cryptocurrency market.
Can Pocket Option be trusted?
Is this a sufficient guarantee? Due to laws in the US and EU, most binary options brokers have moved their operations to exotic legal jurisdictions. This is the case here as well. Registration in the Marshall Islands, supervision carried out by a regulator independent of governments is quite a natural choice in this industry.
A bit of Pocket Option history
The Pocket Option platform was launched in February 2017. Since then, the platform has gained over 10 million registered users from over 90 countries. Back in the year of its inception, an innovative social trading feature was added to the platform. Subsequently, new functionalities were added in order to meet the requirements of clients. What is very positive is that Pocket Option is not slowing down, and the company can no longer be called a small player.
Pocket Option platform’s main features and characteristics
Anyone interested in investing at Pocket Option can try the platform on a demo account.
What is the minimum deposit on Pocket Option?
A real account requires the equivalent of 50 US dollars to be funded. Access to the Pocket Option trading site is available after registration. To open an account, you only need to specify your email and create a password. You can also log in with your Google or Facebook profiles.
The platform has really huge possibilities
Gembell Limited created its platform from scratch. The interface is very comfortable to trade binary options. For mobile devices, there are additionally prepared apps for iOS, Android and Windows. We had a chance to test all 3 of them and they perform excellently.
The Pocket Option platform interface is available in 23 languages. Several trading modes are available to the trader. These are:
- Quick Trading – these are binary options where the expiry time is set as the time from opening to the expiry of the option. It can be set freely, for example as 1 minute or 2 minutes and 30 seconds.
- Digital Trading – in this mode the expiry time is set as a specific time during the day, e.g. 12:34 AM.
- MT5 Forex – this mode uses external software. In this mode, it is possible to trade CFDs on various markets. The platform used here, Meta Trader version 5 is the most popular in the forex industry.
Allowing traders to use two trading modes (Quick and Digital trading) helps when using specific strategies. Other platforms do not offer this possibility.
Risk Warning: The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never trade money that you cannot afford to lose.
What markets you can trade with Pocket Option?
The number of markets that Pocket Option puts at our disposal is impressive. All assets have been neatly segregated into groups. We can trade on currencies, cryptocurrencies, commodities, stocks and stock indices. There are around 70 assets in total, and you can trade on each of them in different types of trades. If we add OTC assets to the number of assets, we can safely say that Pocket Option gives us 100+ assets to trade. The opportunities for trades are therefore endless.
What does OTC on Pocket Option mean?
OTC means Over The Counter. Such trading takes place between two trading parties outside the exchange. Trading of OTC assets is possible on Pocket Option. The main assets on the platform are available during the operation of the related markets according to the schedule. The OTC assets are available at other times, making it possible to trade at weekends and outside of exchange hours.
Can you trade Pocket Option on weekends?
It is safe to say that with OTC assets, trading on Pocket Option is possible 24 hours a day, 7 days a week. If you are busy with work during the week, with Pocket Option you can trade at any hours, including weekends.
How can you make money on Pocket Option?
The two modes of Quick and Digital trading mentioned earlier relate specifically to binary options. This is the main financial product on the Pocket Option platform.
Binary options are very easy to understand financial instruments. In a nutshell, you need to accurately judge whether the price of an asset will rise or fall over a certain period of time. There are 3 elements to understand here:
- Time. The expiry time of the option is expressed as a quantity of time or a specific hour. You open an option at a specific price. At expiry, the price rises, falls, or stays the same. Depending on whether you have opened a trade on a price rise or fall, you gain or lose.
- Amount. This is the amount you invest in a single transaction. At Pocket Option, the minimum is $1.
- Premium or payout. Depending on the time of day and the asset you are trading, the broker offers a bonus for an accurate prediction.
At the moment the payout on EURUSD is 87%. What does this mean? If I invest $100 in a trade and open a rising price option with a 1-minute expiration, 3 scenarios can play out.
- If the price falls in 1 minute, I will lose $100.
- If the price does not change, the $100 invested in the trade will return to my account.
- If the price rises according to my prediction, then the broker will return the $100 and pay a bonus of $87. Yes! All this can happen in just one minute.
How much you can earn with Pocket Option?
The payout rate is always known before the transaction is opened. It is displayed on the green HIGHER and red LOWER buttons. These buttons determine the direction of the transaction and therefore also our forecast of the price increase or decrease at the set option expiry time.
Depending on the day of the week, the time of day and the asset chosen for trading, you can expect different payouts. It can be anything between 20% and 100%. It is always important to choose an asset to trade with the highest possible payout rate, preferably more than 70%.
An additional facility is the ability to issue pending orders for binary options. Pending orders can be fired at a given time or when the asset reaches a price specified by the trader. This is a solution for those who do not have all day to sit in front of the chart.
Pocket Option platform charts
Technical analysis enthusiasts will be pleased with the tools the platform offers. Gembell Limited, as a fintech niche company, gives clients a very good user experience. The platform is stable and the tools available make it stand out among other binary options platforms.
Chart time frames on Pocket Option
Each chart can be observed at different intervals. Their choice is very flexible. The following charts are available: s5 (5 seconds), s10, s15, s30, m1 (one minute), m2, m3, m5, m10, m15, m30, h1 (hourly chart), h4 and d1 (daily).
Chart types on Pocket Option
On the platform, we can also choose the type of chart. The most popular chart formats in technical analysis are available. These are a line chart, candlestick chart, bar chart and Heiken Ashi chart.
Technical analysis indicators on Pocket Option
The web platform offers a selection of 30+ technical analysis indicators. Each of them can be customised to suit your needs. For example, when selecting a moving average, you can choose the period of the average, its type (SMA, WMA, EMA, SMMA) and change the style of its display on the chart (colour and line thickness).
In addition to the indicators, you will also find a rich palette of tools for drawing on the chart. The broker gives us horizontal lines, vertical lines, radius, Fibonacci retracement, Fibonacci Fan, trend line, parallel channel, rectangle and Andrew’s Pitchfork tool.
It is possible to display up to 4 charts simultaneously in various predefined layouts. This makes it very easy to work with several markets at the same time. It can also be helpful for multi-timeframe analysis.
Risk Warning: The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never trade money that you cannot afford to lose.
What about this Meta Trader 5?
In May 2019 Pocket Options launched a new type of trading for its customers. This is simply CFD (contract for difference) trading via the Meta Trader 5 platform. The platform itself is well known in the forex community. The platform can be downloaded and installed on your computer or phone. Pocket Option also gives you the possibility to use MT5 inside its web application. Many tutorials on how to use Meta Trader can be found online. Its main features are:
- Ability to analyse multiple charts simultaneously.
- One-click trading.
- A rich ecosystem of indicators and automated strategies.
- Large selection of chart intervals and chart types.
- Automated trading using programmable algorithms.
- Trading news and alerts.
- The customisable appearance of charts and trading functions.
Social trading and signals on Pocket Option
Social trading has been gaining a lot of popularity in recent years. That is why Pocket Option has decided to create a unique tool for its clients. You can literally view the results of the best traders on the platform. Additionally, you have the possibility to automatically copy their trades. Sounds incredible, doesn’t it? This is a great solution for newbies allowing you to copy other traders’ successes.
The platform itself is also equipped with trading signals. These are available for different assets and for different time frames. Pocket Option creates them on the basis of different strategies and displays the signal to the user on the rise or fall of the price while indicating the strength and quality of the signal for the selected interval.
Bonuses, achievements and market on the Pocket Option platform
We have already mentioned that the platform is highly developed. Besides very convenient trading you will find various, let’s call it gems, which are not available at other binary options brokers. One of such elements is the bonuses. The first most visible and very attractive one is the first deposit bonus. It amounts to as much as 50% of the deposited amount. So if you fund your account with the minimum required amount of $50, you will have $75 at your disposal.
Pocket Option is also developing its marketplace. Their traders can buy deposit and balance bonus codes. They can also buy trading robots, risk-free trades, cashback trades and many other facilities to improve trading. Some items are available under certain conditions. The whole platform is equipped with a system that evaluates a trader’s level of sophistication. The system evaluates this advancement and determines a level based on achievements. At first glance, it may all seem complicated, but during daily use of the Pocket Option platform, the knowledge of the system increases naturally.
What is the easiest way to start trading on Pocket Option?
Every self-respecting binary options broker provides customers with a demo platform. The same is true here. You can test the functionality of the platform without losing real money. It is worth noting that the trading conditions on the demo account are identical to the real account. The only difference is that virtual funds are used for trading. You can use up to $10000 on a demo account. Of course, you cannot withdraw the money you earn on the demo account, but the losses you generate will not be real either. A demo account is very useful for getting to know the platform and the financial instruments available on it. However, it is not dedicated only to beginners. Experienced traders also use demo accounts. It helps them to create and improve their investment strategies and test various tools that they have not dealt with before. The next logical step after opening a demo account is to open a real account.
Opening an account at Pocket Option
Opening an account is child’s play. Simply enter your email and choose a password or authorise access to the platform through authentication using your Google or Facebook account. This alone is enough to trade on a demo account.
How long does it take to get verified on Pocket Option?
The verification procedure usually takes 1-3 business days and is necessary to fully use the real account. It is not possible to withdraw funds if the account is not fully verified. To use a real account, we recommend that you fully verify your account at the outset. The whole process is simple but necessary due to the KYC and AML procedures implemented on Pocket Options. The registration process consists of several steps:
- Account registration, which we described above.
- Confirmation of email address and phone number.
- Indication of necessary address details and additional account details.
- Uploading the documents the broker requires to confirm the address and other personal details.
- It will also be necessary to make a deposit to start trading on a real account.
IMPORTANT:
On the Pocket Option platform, one user can have only one account. This is a kind of restriction, but it is important to keep it in mind. Do not try to open several accounts using different email addresses, for example. The system will sooner or later detect this action and as a consequence, your accounts may be temporarily or even permanently blocked.
How to deposit money on Pocket Option?
Virtually anyone over the age of 21 may trade on Pocket Option. Deposit and withdrawal methods may differ in different regions and countries. The minimum deposit is $50 and the minimum withdrawal amount is $10. The US dollar serves as the main and only currency for transactions carried out on the platform.
How long does Pocket Option deposit take?
Deposits are usually processed instantly. The broker handles deposits directly from Visa cards. Electronic wallets such as WebMoney or Perfect Money may be available in different countries. For cryptocurrency enthusiasts, I have good information here. Without additional commissions, you can fund your account by depositing funds in popular cryptocurrencies like Bitcoin, Ethereum, Tether or DAI.
How to withdraw money on Pocket Option?
The same payment systems are also available for withdrawals. The broker ensures that withdrawals are processed up to 3 days after the withdrawal request. The experience of thousands of customers shows that as a rule, the process takes less time and the money is withdrawn within up to 24 hours in most cases.
How much does Pocket Option cost?
Deposits of funds into the account are free of charge to Pocket Option. Withdrawals are also free of additional charges. Only Perfect Money incurs a commission cost on withdrawals (it is 0.5% commission). Withdrawals via other electronic channels are free of charge. The transactions themselves are also free of commission.
Professional support is the mission for Pocket Option
Pocket Option is a broker providing its services online. It is not a traditional brokerage office where you come for a coffee to talk to a broker. Such places don’t actually exist in the financial industry anymore. This does not mean that Pocket Option does not support its traders. It is quite the opposite. The website and platform are downright overloaded with trading support features.
- You can contact support via chat, phone and email.
- On the website, you will find an extensive FAQ section where you can find answers to the most possible questions.
- The Pocket Option team has also prepared a substantial collection of guides and tutorials for its customers.
So if you come across a problem along the way, the platform usually has several ready-made ways to solve the problem and explain everything related to trading on the platform. The support works just like the platform 24/7. The support team is composed of specialists who speak many languages to help you in the best way possible.
How good is Pocket Option?
Our testing and investing lead us to a confident conclusion that Pocket Option is a fully reliable platform. It is a relatively new broker in the niche of binary options brokers. New, but experienced enough to provide comfortable trading for any trader. The entry amount is $50 and deposits and withdrawals are hassle free. The reviews on the web are exceedingly good. On the well-known portal, TrustPilot, Pocket Option has a rating of 4.5/5, which is very good considering that the platform has been rated by over 1500 users there. As many as 70% of the portal’s users rated it Excellent.
We have everything we need here and even more:
- more than 100 assets to trade,
- 24/7 trading,
- high payouts up to 95%+,
- convenient and functional trading platform,
- multilingual support,
- bonus system,
- possibility to use social trading.
In the end, we rate Pocket Option as a great reliable binary options broker. The platform offers a safe environment to invest and trade while providing a good level of support to its users. We encourage everyone to register a demo account to see for themselves the advantages of the platform. Test Pocket Option by conducting your first trades in a virtual environment.
We wish you a successful exploration of the Pocket Option platform!
Risk Warning: The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never trade money that you cannot afford to lose.
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