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Pocket Option Review

Edited by: Louis Schoeman

Pocket Option Review

 

Overall, Pocket Option is a global online trading platform that aims to make the financial market easily accessible.  Pocket Option offers access to user-friendly trading platforms and has a trust score of 74 out of 99.

 

🔎 Broker🥇 Pocket Option
📈 Established Year2017
📉 Regulation and LicensesIFMRRC, MISA
4️⃣ Ease of Use Rating4/5
🎁 Bonuses50% deposit bonus, referral program, frequent tournaments
⏰ Support Hours24/5
🖱️ Trading PlatformsPocket Option
📊 Account TypesStandard Live Account
🪙 Base CurrenciesUSD
📌 SpreadsFrom 1 pip (pay-out of 80%+)
📍 Leverage1:1000
💴 Currency Pairs65; major, minor, and exotic pairs
💵 Minimum Deposit50 USD
💶 Inactivity FeeNone
🔊 Website LanguagesEnglish, Italian, French, Vietnamese, Chinese, Japanese, Romanian, Filipino, Portuguese, Polish, Thai, Arabic, Turkish, Spanish, Indonesian, German, Malay, Greek, Croatian, Persian, Bangla, Serbian, Hindi, Ukrainian, Korean
💷 Fees and CommissionsSpreads from 1 pip, no commission fees
🥰 Affiliate Program✅Yes
❎ Banned CountriesEEA countries, United States, Israel, United Kingdom, Japan
🅰️ Scalping✅Yes
🅱️ Hedging✅Yes
📐 Trading InstrumentsForex, commodities, shares, cryptocurrencies, indices
🚀 Open an Account👉 Click Here

 

Pocket Option Review – Analysis of Brokers’ Main Features

 

  1. ☑️ Overview
  2. ☑️ Detailed Summary
  3. ☑️ Safety and Security
  4. ☑️ Account Types
  5. ☑️ How To Open an Account
  6. ☑️ Trading Platforms and Software
  7. ☑️ Fees, Spreads, and, Commissions
  8. ☑️ Leverage and Margin
  9. ☑️ Trading Instruments and Products
  10. ☑️ Deposit and Withdrawal Options
  11. ☑️ Educational Resources
  12. ☑️ Pros and Cons
  13. ☑️ In Conclusion

 

 

Overview

 

Pocket Option, established in 2017, is a global online trading platform that aims to make financial markets accessible to all. It offers user-friendly platforms for new and experienced traders, offering a variety of assets like Forex, commodities, stocks, and cryptocurrencies.

In addition, the platform encourages community through social trading features, allowing users to interact and learn from others. It also provides instructional tools, a trial account, and an achievement system to assist traders at every stage of their trading journey.

Furthermore, Pocket Option is regulated by the International Financial Market Relations Regulation Centre and the Mwali International Services Authority, ensuring user safety and privacy.

 

Overview

 

Detailed Summary

 

🔎 Broker🥇 Pocket Option
📈 Established Year2017
📉 Regulation and LicensesIFMRRC, MISA
4️⃣ Ease of Use Rating4/5
🎁 Bonuses50% deposit bonus, referral program, frequent tournaments
⏰ Support Hours24/5
🖱️ Trading PlatformsPocket Option
📊 Account TypesStandard Live Account
🪙 Base CurrenciesUSD
📌 SpreadsFrom 1 pip (pay-out of 80%+)
📍 Leverage1:1000
💴 Currency Pairs65; major, minor, and exotic pairs
💵 Minimum Deposit50 USD
💶 Inactivity FeeNone
🔊 Website LanguagesEnglish, Italian, French, Vietnamese, Chinese, Japanese, Romanian, Filipino, Portuguese, Polish, Thai, Arabic, Turkish, Spanish, Indonesian, German, Malay, Greek, Croatian, Persian, Bangla, Serbian, Hindi, Ukrainian, Korean
💷 Fees and CommissionsSpreads from 1 pip, no commission fees
🥰 Affiliate Program✅Yes
❎ Banned CountriesEEA countries, United States, Israel, United Kingdom, Japan
🅰️ Scalping✅Yes
🅱️ Hedging✅Yes
📐 Trading InstrumentsForex, commodities, shares, cryptocurrencies, indices
🚀 Open an Account👉 Click Here

 

Detailed Summary

 

Safety and Security

 

Pocket Option is a platform that provides various security measures for users’ funds and personal information.  It is governed by the International Financial Market Relations Regulation Centre (IFMRRC) and the Mwali International Services Authority, demonstrating its commitment to regulatory compliance and financial security.

The platform also allows traders to file claims and potentially receive compensation if problems are unresolved. It prioritizes customer data security, maintaining and upgrading data protection systems regularly.

It supports two-factor authentication for account access and withdrawal operations. Payment security is done using TLS 1.2 encryption protocols and AES algorithms with 256-bit keys.

 

Safety and Security

 

Account Types

 

🔎 Account Type🥇 Standard Live Account
🩷 Best SuitedIdeal for all traders and strategies
📈 Markets100+
💴 CommissionsNone. Only the spread is charged
📉 PlatformsPocket Option Platform
📊 Trade SizeFrom 1 USD
💹 Leverage1:1000
💷 Minimum Deposit50 USD
🚀 Open an Account👉 Click Here

 

Standard Live Account

 

The Pocket Option live account has various features that support different trading styles. One notable benefit is the minimum deposit requirement of 50 USD, making it accessible to traders looking to start with a little investment.

In addition, the platform offers over 100 traded assets, including Forex, commodities, equities, and cryptocurrencies, providing diversification options.

Furthermore, traders can use social trading tools to track and perhaps replicate the methods of expert traders. Pocket Option also has frequent tournaments where traders can compete for prizes, providing gamification to the trading experience.

The site also has an accomplishment system that allows traders to gain trading bonuses, cashback, and other prizes as they advance.

 

Account Types

 

Demo Account

 

Pocket Option’s demo account is a valuable tool for new and experienced traders. It replicates real-world trading scenarios with $50,000 in virtual funds, allowing users to test trading methods and familiarize themselves with the platform’s features without risking their funds.

This environment is ideal for novice traders to learn trading fundamentals, technical analysis, and developing strategies before moving to a real account. Experienced traders can also test new tactics or experiment with various assets under simulated market conditions.

 

Demo Account

 

How To Open a Pocket Option Account

 

To register an account with Pocket Option, follow these steps:

 

  • Visit the Pocket Option website and browse the registration area.
  • Once you have decided on a registration method, complete the information correctly.
  • After completing the registration form, you will most likely get a confirmation email or prompt.
  • Follow any further steps to confirm your email address and finish your account setup.
  • Once ready to begin live trading, go to the deposit area and choose your chosen method.

 

You can begin exploring the live markets when your deposit is reflected in your account balance.

 

How To Open an Account

 

Trading Platforms and Software

 

Pocket Option offers a range of trading platforms to suit different preferences. Their web-based platform is user-friendly and easy to navigate, offering charting tools, technical indicators, and sketching tools for analysis.

The platform also integrates social trading capabilities, allowing users to follow skilled traders and stay updated on market sentiment. Pocket Option also provides mobile applications for iOS and Android smartphones, allowing traders to access their accounts while on the go.

These applications replicate the functionality of the online platform, providing a seamless trading experience. For desktop users, Pocket Option offers a downloaded version for Windows, macOS, and Linux, allowing for more customization of trading setups.

 

Trading Platforms and Software

 

Fees, Spreads, and, Commissions

 

Spreads

 

Pocket Option uses a dynamic spread approach, adjusting bid and ask prices based on market volatility and asset availability, with EUR/USD from 1 pip.

Furthermore, this approach from Pocket Option allows for narrower spreads during busy hours but emphasizes careful attention to current spreads, especially during volatile periods.

 

Commissions

 

Pocket Option offers a unique feature of not charging commission fees on trades, which benefits active and high-volume traders who frequently make numerous transactions.

 

Deposit and Withdrawal Fees

 

Pocket Option simplifies deposits and withdrawals without charging fees, reducing trader expenses. However, verifying payment providers’ exceptions for accurate fee schedules is crucial.

 

Currency Conversion Fees

 

Pocket Option may charge a currency conversion fee for transactions in non-USD currencies, potentially increasing trading expenses. To ensure transparency, check the applicable tariffs on their website for accurate information on applicable fees.

 

Fees, Spreads, and, Commissions

 

Leverage and Margin

 

Pocket Option uses leverage as a trading strategy to increase rewards for traders by borrowing funds to expand their market exposure. The platform offers various leverage options, from a prudent 1:1 to a large 1:1000, catering to different trading types.

However, leverage can also increase earnings and exacerbate losses, so traders must exercise caution. Pocket Option’s platform allows traders to adjust leverage settings, allowing them to match their trading techniques to their risk tolerance levels.

 

Leverage and Margin

 

Trading Instruments and Products

 

Pocket Option offers the following trading instruments and products:

 

  • Wide range of currency pairs for trading, including major, minor, and exotic pairs
  • Various commodities like gold, Brent oil, WTI crude oil, and silver.
  • A diverse portfolio of stocks, including high-profile companies like Apple, and Pfizer.
  • A diverse range of cryptocurrencies.

 

 

Pocket Option enables traders to trade key global indices like US100, DJI30, and E50EUR.

 

Trading Instruments and Products

 

Deposit and Withdrawal Options

 

🔎 Payment Method🌎 Country☑️ Currencies Accepted⏰ Processing Time
💴 Bank Wire TransferAllMulti-currency5 minutes – 3 days
💵 Debit/Credit CardAllMulti-currency15 minutes – a few days
💶 Perfect MoneyAllMulti-currencyLess than a minute
🪙 JetonAllMulti-currencyInstant – a few hours
💰 PayeerAllMulti-currencyInstant – a few hours
💷 WebMoneyAllMulti-currency1 minute – a few hours
💴 TiGOAllMulti-currencyInstant – a few hours
💵 M-PESAAllMulti-currencyInstant – a few hours
💶 AirtelAllMulti-currencyInstant – a few hours
🪙 MTNAllMulti-currencyInstant – a few hours
💰 Vodafone M-PESAAllMulti-currencyInstant – a few hours
💷 OrangeAllMulti-currencyInstant – a few hours
💴 Mexico Online BankingAllMulti-currency5 minutes – 3 days
💵 NequiAllMulti-currency5 minutes – 3 days
💶 PicpayAllMulti-currency5 minutes – 3 days
🪙 PSEAllMulti-currency5 minutes – 3 days
💰 EfectyAllMulti-currency5 minutes – 3 days

 

📍 A full list of Deposit Options and Withdrawal Methods are made available on the Pocket Option website.

 

Here is an overview of how to deposit to Pocket Option via the most popular Deposit Options:

 

Bank Wire

 

  • Choose “Bank Wire” as your deposit method in the Finance section of your Pocket Option account.
  • You will get Pocket Option’s bank information required to start the transfer.
  • To begin the wire transfer, go onto your bank’s online portal or visit a branch and enter the required information.

 

Credit or Debit Card

 

Choose “Credit/Debit Card”  as your deposit method.

 

  • Enter your card information, including the card number, expiration date, and CVV code.
  • Specify the amount you intend to deposit.

 

Follow the steps to complete the transaction.

 

Cryptocurrency

 

  • Choose your supported cryptocurrency.
  • Pocket Option will establish a unique wallet address for your preferred coin.
  • Initiate a transfer from your crypto wallet to the given address.

 

e-wallets or Payment Gateways

 

  • Select among supported e-wallets or gateways.
  • Log into your e-wallet/gateway account.
  • Make a transfer using the payment information given by Pocket Option.

 

Here is an overview of how to make a Withdrawal from Pocket Option via the most popular Withdrawal Options:

 

Bank Wire

 

Select “Bank Wire” as your withdrawal method.

 

  • Enter your bank account information, such as the account number, name, and SWIFT/BIC code.
  • Specify the amount you want to withdraw.

 

Follow any further instructions that Pocket Option might provide.

 

Credit or Debit Cards

 

  • Choose “Credit/Debit Card” as your withdrawal method.
  • Enter the amount that you want to withdraw.
  • It is important to note that withdrawals to the same card used for deposits might be limited.

 

Cryptocurrency

 

Choose your desired cryptocurrency.

 

  • Enter your crypto wallet address.
  •  Specify the amount you intend to withdraw.

 

Follow the steps to confirm the withdrawal.

 

e-wallets or Payment Gateways

 

  • Select your preferred e-wallet/gateway from the available choices.
  • Enter the amount you wish to withdraw and any further information.

 

 

Confirm the withdrawal request.

 

Deposit and Withdrawal Options

 

Educational Resources

 

The following educational resources are on offer:

 

  • Tutorials provide step-by-step guidance to assist users in getting comfortable with the platform’s features and trading procedure.
  • Guides provide in-depth insights into the platform’s functions, such as utilizing different trading tools, indicators, and signals to help you make educated trading decisions.

 

 

Pocket Option offers comprehensive trading strategies, including the Pinocchio Strategy for candlestick pattern detection and the Support and Resistance Strategy for technical analysis to anticipate market turnarounds.

 

Educational Resources

 

Pros and Cons

 

✔️ Pros❌ Cons
An intuitive interface across online, desktop, and mobile platforms makes trading easier for both new and seasoned tradersThe emphasis on short-term binary-style transactions might not be appropriate for traders seeking long-term investing strategies
Access to 100+ assets, including currency, equities, commodities, and cryptocurrencies, broadens trading prospectsCharting and analysis tools may not be as detailed as those provided by systems geared exclusively toward experienced traders
Provides a variety of teaching tools to help traders at all levelsPocket Option is less regulated than brokers monitored by main regulatory agencies
Customer support is offered via various means, including live chatWithdrawals might be limited and need verification before they are processed
Deposits and withdrawals are accepted by credit/debit cards, e-wallets, cryptocurrencies, and bank transfersThere are no set spreads, causing the gap between bid and ask prices to change significantly

 

 

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In Conclusion

 

According to our research, Pocket Option is a flexible forex and CFD broker with a user-friendly platform, broad asset offers, and minimal entry hurdles. It integrates instructional tools and social trading elements, fostering a positive community.

 

Faq

Yes, Pocket Option offers various bonuses and tournaments from time to time.

Withdrawal processing periods with Pocket Option will vary from a few minutes to a few days.

Yes, Pocket Option provides a demo account with $50,000 in virtual funds.

Pocket Option’s minimum deposit is $50.

Yes, Pocket Option’s accessibility and instructional materials can benefit novices.

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