Pocket Option Review & Opinions: Is it Reliable and Safe in 2023?

Pocket Option, was established in 2017 and is owned by Gembell Limited. Pocket Option is well set up to favourably compete in the global financial market by giving not just the standard broker’s offering but adding a bit more.

General Information

Pocket Option is registered in the Republic of Marshalls Islands (registration Nr. 86967). The broker is regulated by IFMRRC (license Nr. TSRF RU 0395 AA Vv0124). Pocket Option offers immediate access to over 100 trading assets which can be traded as prediction options with a 90%+ yield.

It has a variety of different payment gateways for easy deposits and withdrawals. It is easy to set up an account in seconds because the platform is user-friendly. Trading can start immediately after the initial deposit. The minimum deposit is $50 with as low as $1 required to begin a trade. In addition, they have a 0% commission on all but a few (probably just one) withdrawal option(s).

As a global platform, Pocket Option has a large number of traders on its platform, this span over 150 countries and counting. They record approximately 80,000 traders on the platform in a 30-minute timeframe. The platform anticipates more global room for expansion through its IB partner initiative, an opportunity for traders to open Pocket Options regional offices in their countries as representatives and earn income while running it.

Advantages and Disadvantages

As with every trading platform and broker out there, there are advantages and disadvantages to the Pocket Option platform. However, it must be stressed that there are certain areas where what looks like a disadvantage to one trader may be a non-issue for another trader. Therefore, each item here should not be looked at as an absolute factor.

Advantages:

Some of the advantages of the PocketOption platform have to do with the payouts, tools, cost of trading, customer support, trading platforms and features.

+ A higher yield that peaks at 95% or more. The trader is able to get a 95% payout on investment, which means a profitable $100 investment in a trade yields $95. This is higher than the industry average of between 75% and 80%.

+ 0% commission on deposits, withdrawals and account maintenance. No commission charges are applied to deposits or withdrawals. Traders do not need to pay an account maintenance fee.

+ Multiple chart types, different time frames, free analysis and indicator tools. For those who use technical analysis for trade decisions, this is a plus. The trading platform on PocketOption has charting tools and packages that allow for comprehensive technical analysis. This is an advancement beyond earlier platforms of other brokers which presented very rudimentary charts.

+ User-friendly platform with fast trade executions. The ability to perform one click trading is an advantage for traders, especially in digital options where a single pip can make all the difference.

+ Trading tournaments are a way to encourage participation of traders from all over the world to hone their skills and aim for a chance to win trading capital and other prizes.

+ Social trading, which encourages traders to trade in communities, with inexperienced traders getting a chance to copy the professionals. Not only can they replicate the results of the traders they copy, they can also hone their skills themselves.

+ Reliable support system. A reliable system of customer support which is always there for clients is an immeasurable asset for all. PocketOption offers multi-lingual customer support.

+ Pocket Option accepts clients from the US and other countries around the world. Pocket Option believes in the equality of all traders, without bias, prejudice or discrimination as to country of origin.

+ Diversity of assets: stocks, cryptocurrencies, commodities, currencies. There is always a market to trade round the clock, with good diversity.

+ Bonuses and partnerships. Opportunities abound to profit from a sound partnership model which allows affiliates the chance to earn from trading without trading the assets themselves. This provides a good potential for passive income.

Disadvantages:

These disadvantages cover expiration times, chart functions as well as regulation. They are not absolute, as some traders will find that their trade performance may not be affected by these points. The disadvantages to the PocketOption platform may include the following:

– Limited regulation, although this is a relative term. The company is based offshore and does not offer Tier-1 regulation. Trader insurance as offered in Tier-1 destinations is not provided.

– Limited expiry time on trades. Future trades are timed at not more than thirty minutes. The trade expires thirty seconds after that. This means that swing and position traders end up getting left out of the party.

– Rudimentary charts which do not allow for deeper technical analysis. Some traders who want more out of the charting functions may find the charts on Pocket Option too limited to use. This can be overcome by using external charting software.

Underlying Assets

Offers include four tradable asset classes which contain over 30 currency pairs, 25 stocks, over 30 cryptocurrencies and 4 commodities. Here are the details of the asset listings on PocketOption.

• Commodities: they have four commodities offered. These options are UKBrent, USCrude, Silver, and Gold. The first two are the symbols for Brent crude oil benchmark (found in the North Sea) and the Western Texas Intermediate light crude which originates form the US.
• Currencies: the platform offers about 29 currency pairs that span minor, major and exotic pairs.
• Cryptocurrencies: Pocket Option offers more than 30 cryptocurrencies to trade on. This number is huge and exceeds most offerings by other brokers. The cryptocurrencies offered include the more popular ones such as Litecoin, Ethereum, Bitcoin, etc., and the not so popular ones. So traders have a large option to choose from.
• Stocks: Popular stocks such as Apple, Boeing, FACEBOOK, Walt Disney, Google, Microsoft, etc. are traded on the platform. Pooled from US exchanges, there are more than 33 stock offerings to choose from and trade on.

Trading Platform

The MT5 platform is used for trading on Pocket Option.

MT5 – with 38 indicators, multiple charts, and 21 timeframes, etc., MT5 is an improvement on the popular MT4 trading platform. It can be downloaded for Windows PC and MAC OS. The MT5 is also provided as a Web Trader.

MT4 – previously not available on Pocket Option, the broker has recently introduced a bot that can be downloaded and used for trade in an MT4 terminal.

Mobile Trading

Pocket Option also provides convenient trade-on-the go mobile applications on its trading platform. The mobile app has excellent software implementation due to its design. Additionally, it retains all the features that can be found in the desktop version. The app is designed for both android and iOS devices. The mobile application is a convenient way to track trades, conduct technical analysis, monitor and manage accounts, track trade history, and market prices, etc. Apps can be downloaded from their respective apps store.

Account Types

PocketOption offers just a demo account and a live account. Trading is done with equal privileges to all clients. The account types are explained below.

Demo Account – for practice, learning and virtual trade, Pocket Option provides a demo account for everyone. You do not need to register a live account in order to access the demo account. The demo account needs no deposit of actual funds. It is funded with virtual money to the amount of $10,000 and can be recharged again if one loses money. The demo account helps traders learn how to navigate the platform, strategize and execute trades without the risk of losing actual money.

Live Account – on Pocket Option, one can open a live account for as low as $50. There are over 100 trading instruments to choose from in the live account. There is also access to other benefits like Cashback, Tournaments, Social Trading, Indicators, and Signals, etc. The live account also comes with training materials and prompt clients’ support. Finally, Pocket Options offers 50% bonuses on all deposits across the board. However, it is only clients with higher trading capital that can cash in on the bonuses. In order to cash out a bonus, a trader must meet trade volume requirements as stipulated for each one. This is to ensure that clients don’t just sign up to withdraw the bonuses, but to use them to buffer trade capital.

Opening an Account

To open a live account with Pocket Option, simply click the registration button and fill in your email information. Supply a password and click “accept” the Public Offer agreement and “submit”. You will receive a confirmation email with a link for further verification.

Deposits and Withdrawals

The supported payment options available on Pocket Options are: Mastercard, VISA,  Maestro, Bitcoin, Ethereum, Litecoin, Bitcoin Cash, ZCash, Neteller, Ripple, Skrill. Other options apart from the above are also available.

Minimum deposit and withdrawal are $50 and $10 respectively. Withdrawal is mostly instant, except there are other mitigating factors unique to a user that may cause withdrawal to exceed a day.

Trade Types

In the beginning, Pocket Option had just one trade option available – the simple and straight forward binary trading option known as the High/Low option. This classical binary option demands that the trader accurately predicts the direction of the asset price and to have this price stay above (High) or below (Low) the entry price when the trade expires. This trading option brings instant payouts and quick money. The payout on Pocket Option goes for as high as 80% to 100%.

Of recent, new trade features have been added to the MT5 platform so traders have better options to choose from. These include Forex Trading, Express Options, and Ladder Options.

Trader Training

Pocket Option has an array of educational materials that can help beginners learn more about trading. The essence is to raise more educated and informed traders who know what they are doing and can use the platform effectively. These educational materials include videos, tutorials, books, trading strategies. Trading strategies include Three method strategy, Alligator Strategy, Bollinger bands strategy, Moving averages strategy, Tweezer strategy, Squat candlestick strategy, Level breakout strategy, Candlestick engulfing strategy, etc.

Should I Trade With Pocket Option?

There are various reasons to trade with Pocket Option, be it the flexibility of its trading platform, diversity of the trading instruments and educational materials, progressive partnership opportunities for loyal customers, bonuses and cashbacks – these benefits are what makes Pocket Option a better choice for you compared to the other brokers out there. The convenient trading interface, huge payouts, intuitive and simple design and easy-to-navigate website and mobile app are other attractive benefits. Put these together, and you have a broker whose interest is to create an enabling environment for you to trade and profit.

The drawback here would be its use of a lower level regulatory body, its offshore address and the absence of a standalone webpage MT4 trading platform. However, the above notwithstanding, Pocket Option in its very few years of existence has managed to carve a niche for itself as one of the better brokers. Professionals have touted it as one of the most progressive web resources in the binary service trading world.

Their commitment to clients’ satisfaction can be seen in their quest for constant improvements. This can be seen in their recent new features, which include a PO integrated Fibonacci retracement indicator, Haiken Ashi Candles, multiple indicators, etc.

Their customer support service is instant with an embedded live chat window, hence a client’s concerns and queries are answered in real-time.

It doesn’t get any better than this. From their offerings, it is safe to say that Pocket Option is a good trading platform and is poised to exceed expectations, and probably competitors, in a few years to come.