Pocket Option is one of the leading binary brokers in the world. Founded in 2017, the broker has continuously developed its platform to bring better trading experiences to its customers. The Pocket Option mission is to make trading readily accessible, convenient and fun for everyone. In this review, we will highlight the key features and provide all the information you need to decide if the broker is suitable for you.
About Pocket Option
Pocket Option is a zero commission broker founded by a group of IT and Fintech experts to prove that financial markets can be profitable without taking the fun out of the process. Based in the Marshall Islands, it currently has more than 10 million registered users on the platform.
Pocket Option provide a true social trading platform. This means new traders can copy the trades of more experienced investors. The system makes it possible for new traders to learn as they trade, and mirror the trades of more experienced users.
Even when copying others, traders can still manage their risk and ensure each trade matches their own strategy and trading balance.
The platform is also extremely intuitive and allows nearly anyone to trade on it with little experience using MT4 and MT5.
Products And Assets
There are over 100 assets for trading on Pocket Option. This includes all major currencies including USD, GBP, AUD, NZD, JPY etc, commodities including Gold, UKBrent (Oil) and Silver, stocks including Google, Microsoft, Apple and many others.
The broker also supports cryptocurrency including Ethereum (ETH) and Bitcoin (BTC). The market depth is excellent, so traders are very likely to find the asset they wish to invest in.
Platforms
There are four different platforms on which users can access markets. The web platform is on its website where anyone with any kind of device with internet connection can access.
The second is the PC platform which will require installation. There are also Android and iOS platforms which allow users to trade on the go.
All these platforms provide equal access to all the features that Pocket Option provides for free. The choice of which to use therefore is a matter of taste and convenience.
Demo Account
As Pocket Option is a place for new traders, it has made provision for a demo account. This is where users can try out trading with virtual money before using their real capital in order to reduce the chances of losses.
There is $10,000 in virtual money that traders can use on the demo account. It also provides a comprehensive guide on how to use the platform which new users will find useful regardless of their trading experience level.
Regulation
Pocket Option is owned by Gembell, a limited liability company with headquarters in Marshall Islands.
The company is regulated by IFMRRC with License number TSRF RU 0395 AA V0174. It is also registered in St. Vincent & the Grenadine as a Limited Liability Company with the registration number 793 LLC 2021 and at C/O LC02 503, Choc Bay, Castries, Saint Lucia with the registration number 2019-00207.
While this regulation is modest in comparison with many major European brokers, it still represents a level of responsibility above many other completely unregulated platforms.
Fees
There are hardly any fees on Pocket Option. As stated early, there are no trading commissions charged.
There are also no fees for deposit or withdrawals while the non-trading fees are insignificant compared to other brokers in its class. There is also no inactivity fee charged in case you don’t use your account for any length of time.
Security
Pocket Option complies with AML policy of regulators and follows a strict KYC procedure for all accounts. This is to ensure that no fraudulent activities are allowed on the broker.
Every user upon creating an account must verify such an account via KYC information. They are also encouraged to use two-Factor Authentication to ensure that no one accesses their account without their permission.
Deposit And Withdrawal Methods
There are over 50 deposit and withdrawal methods on Pocket Option.
This includes a long list of cryptocurrencies, Mastercard and Visa credit/debit cards. Users can also withdraw through Coinbase exchange, WebMoney, Perfect Money, Advcash etc.
Pocket Option Signup
It is very easy to create an account on Pocket Option and start trading.
There are only 3 steps, sign up, verify and fund the account. Pocket Option makes signing up easy with options including Facebook, Google and email.
To verify an account, you only need to provide the picture of an identity document and a proof of address with information matching what is on the identity document. After this, you are set to start trading.
Get Started Here
Incentive Programs Bonus Scheme
Pocket Option has incentive programs for its customers. The first is an affiliate program for partners. Affiliates can earn up to 80% commission from the accounts of users they refer. This makes it the most lucrative affiliate program of any digital trading broker.
There are also bonuses and promos for customers. There is a 50% deposit bonus on the first investment amount for any customer who opens a live account. Terms apply, and traders need to trade with the 50% before you can withdraw.
Customer Support
There is a vibrant customer support for Pocket Option customers. There is the support desk where you can raise an issue by opening a ticket and the support team will respond.
Another option is a hotline through which customers can directly contact the customer care especially when there is a pressing issue. There is also a community of traders that users can chat with and have their questions concerning trading answered.
Pros And Cons
Pros
- Easy to use interface
- Provides educational materials
- Very low fees
- Comprehensive customer support
- Huge range of assets
- Multiple deposit/withdrawal methods
- Zero commission trading
Cons
- Doesn’t have clear cut security measures
- Not licensed by major regulator