Pocket Option Review 2023

Pocket Option is a derivatives broker with a global presence – focusing on binary and OTC options for forex, stocks and cryptocurrencies. Our expert analysis provides insight into average payouts, the different trading platforms and payment methods, and highlights key advantages and disadvantages of Pocket Option.

From minimum deposits to how to place trades, we tested every element of this platform so you can judge if they are the best fit for your trading needs. Find out why you should start with Pọcket Option.

Pocket Option Headlines

Pocket Option was founded in 2017 by a team of IT specialists and is managed by owner Gembell Limited. The company is registered in and has its headquarters in the Marshall Islands, where it is regulated by the International Financial Market Relations Regulation Centre (IFMRRC).

The binary options broker has over 100,000 active users and a trading turnover of over $500,000,000. The company caters to customers in over 95 countries and regions. They support clients from Kenya to Indonesia, and the US to Germany – it is truly a global brand.

Trading Platform

Rather than the ever-popular MT5, it provides its own proprietary trading platform software for all of its clients.

The package integrates all the features and assets of the broker into one place, providing an easy-to-use trading solution that is great for beginners and veterans.

The Pocket Option trading platform boasts 14 timeframes, from 30 seconds to one day, four charting types, 30 technical indicators, nine graphical tools, four simultaneous charts, copy trading, signals, social trading chat functionality and account management.

The broker’s platform can be accessed in a range of ways:

There is a web-based client embedded in the Pocket Option website, a desktop software app that is free to download for Windows (inc. 10) and Mac computers and a mobile app that is supported by iOS and Android devices.

Assets

Pocket Option offers binary options and OTC options trading on over 130 underlying assets, spread over four classes.

• Forex Pairs: The platform features over 30 forex currency pairs. These range from the classic major pairs such as USD/GBP, to minor and exotic pairs such as NZD/JPY.
• Commodities: Pocket Option offers four OTC (over-the-counter) commodities. These are gold, silver, UKBrent (oil) and USCrude (oil).
• Stocks: Over 20 stocks are available, including gems such as Apple, Pfizer, HP and Google.
• Cryptocurrencies: Pocket Option has over 35 cryptocurrencies on offer, including Bitcoin and Ethereum.

Spreads & Commission

As a binary options broker, Pocket Option does not charge any commissions or any non-trading fees. Instead of a spread, the broker provides an expected payout for each asset, which guides you as to how much money you could make. Typical forex payouts are EUR/GBP – 81%, GBP/USD – 57% and USD/RUB – 92%.

Typical stock payouts are Disney – 92%, McDonald’s – 78% and Microsoft – 51%. Cryptocurrencies usually have a rate of around 40%, these are lower due to the increased volatility.

Leverage

The maximum leverage on Pocket Option is 1:1,000. That means that, if you put down £100, you can trade with up to £100,000. Always be careful when using leverage, it can increase quick trading wins, but will also increase live trading losses.

Mobile Apps

Pocket Option has a Metatrader 4 (MT4) iPhone and Android app. The app supports both APK and iOS and is available to download on the app store and google play store. The app is fully functional and glitch-free. It is user-friendly and has plenty of support, ideal for beginners who may need help learning how to use it or may need things explained.

Pocket Option Payment Methods

There is no deposit fee . The minimum deposit is $50, and the deposit time is typically 1-2 business days. Deposits with a credit card can only be made in US dollars and therefore fees may be incurred when converting currencies. Deposits can be made via the following payment methods:

• Debit/Credit Card
• Electronic Wallet Transfer
• Bank Wire Transfer

There are no withdrawal fees. The minimum withdrawal amount is $10 and there is no maximum withdrawal limit. Funds with proof are received within 24 hours in most cases. Withdrawals can be made via the same methods as deposits:

• Debit/Credit Card
• Electronic Wallet Transfer
• Bank Transfer

Demo Account

Pocket Option offers a free demo app. Simply sign up, sign in with your login credentials and begin using your demo account. The broker gives demo users $10,000 of virtual money to practise trading with. The demo account acts as a tutorial, giving you a chance to practise your trading skills without risking real money. If you lose all your money, the broker will boost your virtual funds at no cost to you.

Demo accounts are also a great tool to practise your strategy, be it 15 second, 2 minute or zig zag. As there is no chance of real financial loss, you can make any strategy rookie errors and work through any teething issues with no risk.

Promotions

Pocket Option regularly runs bonus schemes, as well as publishing referral and promo codes. The broker ran promo codes and coupons in June and July 2021.

Currently, if you deposit $100 or more you get a 50% bonus when using the code ‘1morechance’.

Pocket Option automatically gifts the bonus to your account after registration and payment. The only bonus rules are that you cannot withdraw the funds until a specified number of trades are completed.

Pocket Option also regularly provides $50 no deposit bonus codes as an alternative to their deposit bonus.

These promo codes get you $50 to trade with on binary options upon opening your account. Simply complete the verification process and know-your-customer (KYC) protocol to receive the bonus.

Regulation

Pocket Option is regulated in the Marshall Islands by the International Financial Markets Relations Regulation Centre (IFMRRC). While not being regulated by a well-known body such as the Cyprus Securities and Exchange Commission (CySEC) does cast some doubts, the broker complies with anti-money laundering (AML) policy and has proven itself to be trustworthy.

Additional Features

Pocket Option boasts a range of additional features that set it apart from competitors like IQ Option, Nadex, VideForex and IQcent:

• Education: Members receive access to a whole host of educational materials. These include visual aids, videos, tutorials, Ebooks and more.
• Robots: The broker allows robots, or bots, for automated trading. These are free to work on both demo and live accounts.
• CopyTrading: Allows copy trading and social trading. You can view top-ranked traders or search for specific traders to copy. There are copy trading reviews available for many different traders.
• Signals: The broker has an official signals bot. This bot will automatically send you updates or assets that it thinks you should open a position on.
• Tournaments: Pocket Option’s tournaments allow you to compete against other traders and investors. See how your earnings stack up against theirs and earn rewards.

Account Types

At pocket Option, there is a one-size-fits-all live trading account. There are no gold, silver or bronze levels to the account. This account can be opened with a deposit of only $50 and, following verification time, traders can start investing in over 130 assets and financial instruments.

Benefits

• Social trading
• Demo accounts
• Over 130 assets to trade
• Low trading fees/no commission
• Clients accepted from over 95 countries

Drawbacks

• One account type available
• IFMRRC is not a reputable regulator
• The expiration time is limited on trades

Trading Hours

The different assets available at Pocket Option have different trading hours. These hours will also vary depending on your time zone. For forex assets, the main session is from 21:00 UTC Sunday to 21:00 UTC Friday. Some OTC assets have different times, such as GBP/USD, which is also available over the weekend. Cryptocurrencies options have no fixed time and can be traded 24/7.

Customer Support

Pocket Option values customer service. Whether your deposit has failed or you are having withdrawal issues, you can get in contact with the broker. The company is reachable 24/7 via two methods:

• Phone Number: 1 (800) 982 – 1251
• Email: support@pocketoption.com

Customers can also contact Pocket Option via live chat on their website, as well as Instagram, Telegram, Facebook and more.

Safety & Security

Pocket Option could improve its security levels slightly. No matter which trading platform you use, two-factor authentication is not possible. This could leave your account vulnerable to hacks.

Verdict

Pocket Option is a young and exciting forex and CFD broker. Even though it already set itself apart from the competition with its binary options range, they have a range of other features to entice traders. If you want to quit your office job and increase your net worth through trading, it is a great place to start.

FAQs

Accepted Countries

Pocket Option accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.