Pocket Option is one of the most renowned binary option brokers that has been registered with the Republic of Marshalls Islands under registration number 86967. The broker is regulated and licensed by IFMRRC (license Nr. TSRF RU 0395 AA Vv0124). Pocket Option provides immediate access to more than 100 trading assets that can be traded in prediction options at a yield of 90%+.
There are many different payment gateways to make deposits and withdrawals easy. The platform makes it easy to create an account within seconds. After the initial deposit, trading can begin immediately. Minimum deposit is $50 and you can start trading with just $1. The Broker charges 0% fee on withdrawals, except for a very few withdrawal methods.
Pocket Option is a global binary options trading platform with traders from over 150 different countries. In a 30-minute period, they record approximately 80,000 users on the platform. Platform anticipates more room for global expansion via its IB Partner initiative. This gives traders the opportunity to open Pocket Options Regional Offices in their country as representatives and earn income by running them.
Pocket Option Regulation
Pocket Option is an online trading platform that operates under the oversight of the International Financial Market Relations Regulation Center (IFMRRC). The IFMRRC is a non-commercial organization that provides regulatory oversight and certification services to various financial market participants.
Trading Assets with Pocket Option
Pocket Option offers five different asset classes that can be traded, including over 30 currency pairs and 25 stocks. It also offers over 30 cryptocurrencies and 4 commodities
It’s important to note that the availability of specific trading assets may vary based on factors such as your location and the platform version you are using. Pocket Option may regularly update and expand its asset offerings to cater to the evolving needs of traders.
Account Types
Pocket Option offers a demo and a real account. All clients have the same trading privileges. Below are the account types.
- Demo Account: Pocket Option offers a demo account to everyone for virtual trading, practice and learning. The demo account is accessible without registering a real account. Demo account does not require any deposit. The demo account is funded up to $10,000 in virtual money and can be reloaded if you lose money. Demo accounts help traders to learn how the platform works, strategizes and executes trades without risking actual money.
- Live Account: You can open a real account starting at $50. The live account offers over 100 trading tools. You can also get access to Cashback, Social Trading, Indicators and Signals. The live account comes with training material and prompt client’s support. The Broker also offers a 50% bonus on all deposits. Only clients with a higher trading capital can benefit from the bonuses. To cash out a given bonus, the trader has to meet certain trade volume requirements. It is important that traders do not sign up just to withdraw bonuses but also to use them as a buffer to trade capital.
Opening An Account
It is very straightforward to open a Live Account for both novice and experienced traders. However, I should mention that it is a disadvantage that you can only choose from one type of live trading account. This Pocket Option review will show you how to open a Live Account using a step-by-step guide.
- Account Setup: Begin by signing up for a free trading account using your email address or conveniently authorize access through your Facebook or Google accounts.
- Account Verification: Personalize your account by providing the necessary personal information in your profile. Complete the verification process by uploading identification and address documents for authentication.
- Funding: Boost your trading account balance by depositing funds using your preferred deposit method. The time it takes to process the deposit may vary depending on the chosen option.
- Trading: Trading on Pocket Option is straightforward. Select your desired trading asset, customize your chart layout, and utilize indicators for enhanced market analysis. Determine the trade amount, choose the purchase time, and place an order for either a price decrease or increase.
Pocket Option Trading Platform
The Broker provides users with access to a user-friendly and intuitive trading platform. Here are the key features and components of the trading platforms:
- Web-Based Platform: Pocket Option offers a web-based trading platform that can be accessed directly through a web browser on desktop computers or laptops. This eliminates the need for software downloads or installations, providing convenience and flexibility.
- Mobile Apps: Pocket Option also provides mobile trading apps for iOS and Android devices. These mobile apps allow users to trade on the go, providing flexibility and accessibility from anywhere with an internet connection.
- User-Friendly Interface: The trading platforms are designed to be user-friendly, with intuitive interfaces that are easy to navigate. Traders, both beginners and experienced, can quickly familiarize themselves with the platform and its features.
- Charting Tools: Pocket Option’s trading platforms typically include advanced charting tools and indicators. Traders can analyze price movements, apply technical analysis techniques, and make informed trading decisions based on the available charting features.
- Trade Execution Options: The Broker provides various trade execution options to suit different trading strategies. Traders can choose between different trade types, including binary options, digital options, and CFDs (Contract for Difference), depending on their preferences and risk appetite.
- Order Management: The platform allows traders to manage their trades efficiently. Users can set take-profit and stop-loss levels to automatically close trades at predefined price points, helping to manage risk and protect profits.
- Real-Time Market Data: Pocket Option platforms offer real-time market data, ensuring that traders have access to the most up-to-date information on price quotes, asset performance, and market trends. This enables traders to make timely and informed trading decisions.
The minimum deposit is 50 USD for the Live Account, which is a relatively high amount compared to the other binary option brokers. On the other hand, minimum withdrawal amount is 10 USD.
Withdrawals and Deposits
You can trade with just $1. The Broker accepts most popular payment methods including credit/debit card, bank wire transfer, digital wallets and crypto wallets like Bitcoin, Ethereum and Litecoin. The minimum deposit is $50. This is little higher than the majority of binary option brokers.
You can only withdraw funds in USD. The minimum withdrawal amount is $10. Processing can take up to three days, and in some cases even longer. The good news is there are no hidden fees or commissions.
Bonuses and Promotions
Two promotional offers are available to new customers. The first deal is a 50% bonus on your deposit. This deal is open to everyone and there is no referral code required. Simply deposit $50 or more and you will receive the bonus.
This deal is more lucrative the more money you invest at the beginning. If you deposit $100 you receive $50, but if deposit $1000 you get a $500 bonus.
This promotion has only one rule: you must make a specific number of trades to withdraw your money.
Another promotion from Pocket Option is a no deposit bonus of $50. New customers can get a $50 bonus by using the promo code “NBD-promotion”.
Register for an account with the provided promo code and you will receive your bonus. The bonus is only withdrawable after completing several trades.
Customer Service
Pocket Option offers customer service support to assist users with their inquiries and concerns. Here is some information about the broker’s customer service:
- Contact Channels: Pocket Option provides multiple channels for users to reach their customer support team. You can typically contact them through email, live chat, or a contact form on their website. Look for the “Contact Us” or “Support” section on the Pocket Option website to find the available contact options.
- Availability: The exact availability hours of Pocket Option’s customer service may vary. However, they typically strive to offer support 24/7 or during trading hours to assist users across different time zones. Check their website or contact them directly to confirm their customer service availability.
- Support Languages: Pocket Option aims to provide customer support in various languages to cater to a global user base. The specific languages supported may depend on the region and the availability of multilingual support agents. Check with Pocket Option to determine if they offer support in your preferred language.
- Responsiveness: Pocket Option aims to provide responsive customer service to address user inquiries and concerns promptly. The time it takes to receive a response may vary depending on the volume of inquiries and the complexity of the issue. They typically strive to provide timely assistance to ensure a satisfactory user experience.
It’s important to note that while Pocket Option endeavors to provide quality customer service, response times and support availability may vary. Users may have different experiences based on their specific interactions with Pocket Option’s customer support team.
Final Word
Pocket Option has many features that will appeal to both new and experienced binary option traders. They set themselves apart by focusing on binary options and separating themselves from other forex brokers, stock brokers, and CFD traders.
The Broker offers a transparent and competitive fee structure. Its platforms are easy to use and offer impressive bonuses. Social trading is also supported. However, it does not provide security. Start trading today with Pocket Option by opening a demo, practicing your strategy, and fine-tuning it.