Pocket Option

Pocket Option has captured the attention of online traders with promises of quick execution and a user-friendly interface. But is it all it claims to be, or is there more behind the scenes? Our Pocket Option review will provide you with a comprehensive, unbiased look into this trading app, including its features, trading experience, pros and cons, and whether it’s the right fit for various types of traders.

There are several reasons why Pocket Option is worth considering when choosing an online options trading platform. It comes with a quick sign-up process and a low minimum trade amount of $5!

Pocket Option is well known for its wide range of chart types and indicators, fast trade execution, and an impressive variety of bonuses for steady users or brand-new traders. They also provide a great demo account where traders of any experiential background can practice trades using a virtual balance.

Pros and Cons of Pocket Option

Before we dive into the bulk of our Pocket Option review, we’d like to point out what Pocket Option does well as a trading app and some areas where they could improve their setup or what they’re offering to traders. Check out the top pros and cons of Pocket Option and find out if it’s a platform you’d be interested in using to meet your online trading goals.

What Pocket Option Does Well

What are the best parts of using Pocket Options for trading online?

Despite being a trading app that can work well for intermediate and seasoned traders, Pocket Trader’s user-friendly interface is suitable for beginners including newbie tools like the demo account, the economic calendar, simple-to-use technical indicators, and risk management tools that help secure profits and control potential losses.

Pocket Option offers a broad selection of assets from different market categories like options, cryptos, forex, commodities, and stocks. In addition to the ability to trade in several different markets, Pocket Option traders also can enjoy a high payout potential. Pocket Option is well-known for its seamless mobile trading experience where its app functions much like the website it’s based on. Traders can enjoy the same features and tools using their smartphones or tablets that they can when trading from the comfort of their desktop computer.

Where Pocket Option Could Improve

What are some areas where Pocket Option could be made better?

Pocket Option faces some regional restrictions and limited regulation in certain areas. While the app can be accessed in places like Australia and New Zealand, it’s not regulated by the respective financial authorities like ASIC and FMA. Pocket Option is also restricted in many areas of Europe due to some EU countries having restrictions on binary options trading. Another downside to using Pocket Option is that your payouts can vary significantly across assets, plus their educational resources may not be as comprehensive as competitors.

Pros

• Quick Account Setup: New users can register and start trading in just a few minutes, which is ideal for beginners.
• Low Minimum Trade Amount: The platform often allows traders to open positions with relatively small amounts, making it beginner-friendly.
• Multiple Chart Types & Indicators: Offers different chart styles (line, candlestick, etc.) and a decent range of technical indicators for those looking to perform in-depth analysis.
• Fast Trade Execution: Trades are executed swiftly, which can be critical for short-term strategies.
• In-Platform Social Trading: Some versions of Pocket Option allow you to follow and copy the trades of more experienced traders, helping newcomers learn.
• Bonuses & Promotional Offers: Frequent promotions, welcome bonuses, and deposit boosts can help stretch your trading budget.
• Accessible Demo Account: No-strings-attached demo account that helps you practice strategies before risking real money.

Cons

• Regulatory Uncertainty: Pocket Option may have limited or unclear regulation in certain regions, which can raise questions about long-term reliability.
• High-Risk Nature of Options Trading: Binary and short-term options can be very risky, especially for those without a solid trading strategy or risk management plan.
• Potentially High Spreads or Fees on Some Assets: While fees can be minimal, some assets might come with higher spreads or reduced payout percentages.
• Limited Educational Depth: Although there are some tutorials, newer traders might find that the platform’s educational resources don’t go as in-depth as competitors.
• Regional Restrictions: Some countries or regions may not be supported, limiting accessibility for traders worldwide.
• Short-Term Options Can Lead to Overtrading: The abundance of quick expiry trades can tempt traders into frequent high-risk positions without enough time for analysis.
• Customer Support Availability May Vary: Though support is often prompt, certain time zones or peak hours might experience slower response times.

Platform Overview

Get a brief history of Pocket Option and find out what kind of traders will benefit the most from using the app or website. We’ve included some key selling points too to give you a good idea of Pocket Option will cater well to your trading plans and objectives. You’ll enjoy rapid trade execution, a user-friendly trading experience, and the ability to trade multiple instruments.

What Is Pocket Option?

Pocket Option is an options trading platform that lets its traders and investors speculate on price movements of assets like stocks, options, currencies, and commodities; however, their trading focus is primarily on binary options. These are contracts that are based on a yes or no prediction about the value of an asset at a specific time.

Pocket Option was founded in 2017 as an accessible and convenient option for online traders who want to get started with a small amount of capital. This has made Pocket Option a popular choice for new traders who want to get some initial experience, but it also has the technical analysis tools, charts, and indicators that work for advanced trading. Pocket Option works well for beginners, intermediate, or advanced traders.

Key Selling Points

What are some of the best reasons to join Pocket Options? Keep reading to find out the prime opportunities waiting for you with this trading platform.

• Rapid Trade Execution—Pocket Option is well known for its quick order placement and nearly instant trade execution. It’s a great feature for traders or investors who need to act quickly on market movements. Rapid trade execution is such a big part of the Pocket Option the binary option trades can be executed in 60 seconds or less! It all leads to faster order processing.
• Simple Interface—Pocket Option has a user-friendly interface, which makes it simple for new traders to get started and gain the experience they need with little hassle. The platform has a clean, modern design that’s free of cluttered menus or tabs. The mobile app functions very much like the website, so there’s no learning curve going between each platform.
• Multiple Trading Instruments—Traders have multiple opportunities using Pocket Option,s including instruments like forex, stocks, commodities, cryptos, indices, and OTC assets.

Account Setup & Verification

If you’re interested in trading using the Pocket Option, you have to begin first by setting up a new account and making the minimum deposit requirement. We’ve outlined the account setup and verification process below to help you get started. The process should only take around five minutes to complete and your account will be ready to use immediately when you’re finished. Pocket Options doesn’t require extensive document verification for you to access a basic account!

Registration Process

Follow the step-by-step guide to creating an account below to get started:

• Download the Pocket Option app or visit the website to begin.
• You can sign up using your Facebook or Google account, which will save you some time. However, you can simply create a new account from the ground up on the Registration page.
• On the “Registration” page, click or tap “Sign Up” and you must enter your email address, create a secure password, and accept the terms and conditions of using the app.
• Verify that you’re not a robot, and then click or tap on “Sign Up” to get to the next step of setting up your new account.
• Next, you must verify your new account. Go into your email and you’ll see that Pocket Option has sent you a verification email. Click on the message that says “Confirm Your Email Address.” Click or tap the “Confirm Email” button.
• You’ll be directed to your profile page. Enter your first and last name and date of birth. You must also enter the country you live in and click “Confirm.”
• The next step is to enter your identification document and you have the option of using your driver’s license, passport, or national ID card. Select which option you’d like to use and enter the appropriate information.
• Under the “Social Trading” section, you can enter a profile photo or select an avatar for your Pocket Option profile. Under the “Settings” section, you can adjust your account settings to receive email notifications or subscribe to news, promotions, or trading analytics.

Demo Accounts

Pocket Option comes with a demo account, a risk-free environment where newer traders can practice trading without risking any of their own money. This demo account is a fully functional demo mode, and it can be accessed by any new users regardless of whether or not they’ve registered a new account with Pocket Options.

To use the demo account on the Pocket Option platform, visit the website or open the mobile app. Click or tap the “Free Demo” option along the top menu to open a demo account, create a new account, and claim your virtual balance to begin practicing trades without risking your own money.

User Interface & Trading Tools

Once you’ve signed up for your new Pocket Option account, you’re given three choices of where to proceed next. You can make your first deposit, go through a tutorial to learn about how the platform functions, or head to the platform straight away to see what the dashboard looks like. To get an idea of the user interface or trading tools available to you, we’d recommend going with the third option to see what the dashboard is like, how the trading features work, and how sleek and modern the mobile experience can be.

Dashboard Walkthrough

The entire setup of Pocket Option is intuitively designed to let traders with minimal experience enjoy the effortless navigation. The layout is set in a way where there is little question about where features and functions are located, like finding the asset classes you’d like to trade or getting your trade set up.

Pocket Options comes with some excellent chart types for tracking market conditions and finding the best opportunities for entering winning trades. There are also a few customization options that are worth noting, that allow traders to craft an experience that is suitable to their plans and goals.

Chart Types

• Line Charts: Get a visual of how a stock or index has performed over a set interval. Line charts are updated as the stock prices update in real-time.
• Candlestick Charts: Candlesticks are often considered the cornerstone of technical analysis, and traders can use them to pinpoint the asset’s opening and closing prices, the highs and lows, and the overall range for a specific timeframe.
• Bar Charts: This is a visual representation of the price movement of a financial asset over a specific time period. They display the high, low, opening, and closing prices at each time interval. Bar charts allow traders to find great trading opportunities and identify trends.

Customization Options

Traders and investors using Pocket Option can customize chart appearances, indicators, and timeframes to suit their trading strategy.

Trading Features

Pocket Option users can access the following features:

• Binary Options—Pocket Option traders can bet on the asset price with a rise or fall within a specified period.
• Charting Tools—Access indicators, candlestick patterns, and trend lines (technical analysis tools) to make well–informed trades.
• Notifications—Keep on top of price movements with customizable alerts and notifications when major market events occur.
• Live Market Updates—Get pertinent market updates and real-time price feeds.
• Wide Range of Assets—Choose from a selection of tradable assets like commodities, stocks, options, forex pairs, and cryptocurrencies.
• Demo Accounts—People using the Pocket Option app can use demo accounts from the convenience of their smartphones or tablets.

Mobile Experience

The Pocket Option mobile app is well-known for its usability and performance, plus it carries the same tools and features that you’d have access to using the website. The app has a clean, modern design that lets traders access the primary functions quickly, including asset types, placing orders, and setting the parameters of each trade.

Assets, Payouts & Expirations

Let’s take a moment to view the Pocket Option asset classes and the kind of payouts that traders can expect during their time trading online using this app.

Asset Variety

• Stocks: Enjoy a wide range of global stocks. Trade Contracts of Difference where you can profit from price movements of these stocks straight up owning the underlying assets.
• Forex Pairs: Trade plenty of currency pairs like EUR/USD or GBP/USD.
• Cryptos: Speculate on the price movements of digital crypto assets like Bitcoin, Litecoin, or Ethereum without having to outright own these digital currencies. Traders can make predictions on price movements and still make money.
• Commodities: Choose from gold, silver, crude oil, copper, or iron to develop a diversified portfolio that stands up to the ravaging effects of inflation.
• Commodity Index: These indices represent the collective performance of multiple commodities. Commodity index trading lets traders gain exposure to the broader commodity market.
• Indices: Traders can speculate on the performance of the entire market instead of individual stocks by providing access to various stock bindices. These include the NASDAQ, S&P 500, and FTSE.
• Crypto IDX: Speculate on the movement of cryptos as a whole through crypto IDX. It can provide traders with a comprehensive view of the crypto market’s overall performance.

Payout Rates

On a successful trade, you can earn up to 92% profit using Pocket Option, but it largely depends on the asset you’re trading and the current market conditions. In terms of money, Pocket Option has over $500 million in trading turnover, and the average trader’s income is over $850 per month.

Several factors influence payout percentages on Pocket Options:

• The asset class chosen (stocks, forex, cryptos, commodities, etc.)
• Volatile or stable market conditions
• Expiration dates (shorter expirations result in higher payouts)
• The trading strategy you’re employing for the trade

Expiry Times & Trade Types

When choosing an expiry date at Pocket Options, they can range from a few seconds to several hours, but it largely depends on the asset you choose to trade. This means that there are options choices that make for short-term, longer-term trades. Those using Pocket Option can check the expiry times in the dropdown menu that’s available when you’re first selecting your asset and placing your trade. It can be found under “Assets Schedule.”

Deposits, Withdrawals & Fees

How much do you need to deposit into your new Pocket Option account, and what kind of deposit methods are available? How can you withdraw your funds? Are there any wagering requirements? We’ll discuss these questions and others below as we address the deposit/withdrawal options and fees.

Payment Methods

The main deposit methods are electronic payment methods (seconds to days to become available), cryptos, and direct bank wires (three to forty-five business days to become available). Pocket Option doesn’t charge any deposit fees, but there are some deposit minimums that need to be met.

Minimum Deposits

• (ETH) ERC-20: Minimum deposit of $20
• USD Coin (USDC) ERC-20: Minimum deposit of $20
• Tether (USDT) ERC-20: Minimum deposit of $20
• Tether (USDT) TRC-20: Minimum deposit of $10
• Stellar (XLM): Minimum deposit of $10
• Bitcoin Cash (BCH): Minimum deposit of $10

Minimum Deposit & Withdrawal Amounts

The minimum deposit amount on Pocket Option is $5, which makes it super accessible to newer traders who want to get started with a small amount of initial capital. New traders can begin trading on the platform so long as they have $5 in their account. It’s key for users to verify the current minimum deposit amount on the platform, as it may change from time to time. Pocket Option doesn’t charge any commissions on deposits.

While they don’t charge a direct withdrawal fee, Pocket Option might include some fees associated with the specific payment method you used. It could include any applicable processing fees by the payment provider. There could be some currency conversion fees incurred if you’re withdrawing using a different currency from your account currency.

Transaction Fees & Timelines

Pocket Option itself does not charge fees for depositing or withdrawing funds. There are no transaction fees for adding or taking money out of your account. Third-party payment providers could charge their fees, however, depending on the deposit or withdrawal method you ended up using for your funds.

Safety, Security & Regulation

If you’re wondering what Pocket Option does to keep its members safe and secure, check out the regulation, licensing, and safety protocol information in this next section. There’s an entire space of the app/website where you can access this information if you’d like to read it for yourself: the “Regulations and Licensing” menu.

Regulatory Compliance

Pocket Option is regulated and licensed by the International IBC Regulation Act 2014 Brokerage License from the Autonomous Island Of Mwali (Mohéli) Comoros Union. Infinite Trade LLC is registered at the Republic of Costa Rica, San Jose- San Jose Mata Redonda, Neighborhood Las Vegas, Blue Building Diagonal To La Salle High School, with the registration number 4062001303240.

You can find the following information posted on the website under the “Regulations and Licenses” tab:

“The Registrar of International Business Companies certifies that having satisfied all the requirements in respect of incorporation under the International Business Company Act, all the requirements of said Act in respect of incorporation have been complied with. In accordance with the mandate granted to the Office of Mwali International Services Authority by the International Act 2001 of the Autonomous Island of Mwali (Mohéli).”

Security Protocols

Pocket Option’s security protocols are typically found under the Privacy Policy or the Security tab located at the top of the main menu.

• Encrypted Connection: Under the Pocket Option “Privacy Policy,” traders will find that the platform uses a strong encrypted connection: Transport Layer Security.
• Two-factor authentication (2FA): This is another major security measure used at Pocket Option which can be found under the “Security” tab. It adds an extra layer of protection against unauthorized logins by requiring the user to add an extra verification step during the login process.

User Protections

Users are responsible for any use of their account (this includes unauthorized use). If they suspect unauthorized use, they should notify client services. Pocket Option is not held liable for consequential or incidental damages or losses.

Account Protection

• Account Verification
• SSL Encryption
• Two-Factor Authentication
• Secure Payment Methods
• Anti-Money Laundering Policy

Negative Balance Protection

Pocket Option features this protective measure, which means that traders cannot lose more money than they have deposited in their account. This keeps traders or investors from going into debt while using the app or website. No matter how much you lose trading, your account balance will never fall below $0 into a negative number.

Customer Support & Resources

Pocket Option comes with the standard customer service and support tools that you’d see on other trading apps or platforms. After testing Pocket Option for a few weeks, we can confirm that it’s relatively easy to contact someone at the support center when you need help with a problem or assistance with figuring something out on the app. In addition to the usual support channels, there are some troubleshooting and educational resources available for customers who would rather help themselves

Support Channels

• Live Chat—Customers can speak directly with a human representative or a chatbot using “General Chat” under the “Community Help” tab on the customer service page.
• Email—On the customer service page, the Pocket Option has a generic contact form where customers can attach their email address and message before clicking “Send” to forward their message to the customer service team. There is also a direct email address: [email protected].
• Phone—Customers can also get in touch with Pocket Option via their toll-free phone number: + 44 20 8123 4499. This seems to be one of the better options for contacting the customer service center and getting an immediate response and solution to your problem.
• Social Media—Get support from the Pocket Option team through social media apps such as Facebook, Instagram, Twitter, VK, and YouTube.

Response Times & Quality

The quickest ways to reach Pocket Option’s customer service center are by phone or using the live chat feature. Neither is available 24/7, but there’s no information on the site or app saying what their hours are. It seems that any email messages sent to customer service are answered within 24 hours at the latest, but response times can vary from one situation to the next.

Educational Materials

Pocket Option includes the following educational tools and resources for their users:

• Guides: Traders can access market analysis and trading guides to get a firm grip on technical analysis and market trends.
• E-Books: Traders can learn about different aspects of online trading by accessing Pocket Option’s library of e-books on various subjects.
• Webinars: Another option for learning about trading or investments online is through video webinars, available in the Pocket Option’s help center.
• Tutorials: Traders can also access video tutorials showing them how to trade successfully online using Pocket Option and its wide range of instruments and asset classes.
• FAQs: Traders can enjoy a detailed FAQ section with answers to common questions asked by members and other users. The FAQ menu is a great way to work through problems on your own without having to contact someone at the customer service center.
• Blog: Pocket Option offers traders access to a daily blog that updates regularly with market analysis and other useful trading tips.

Bonus & Promotional Offers

Bonuses and promotions are subject to change at Pocket Options, so this section of the review will deal with the kinds of common bonuses or promotions that are offered and not many specific deals that are available currently. We’ll be talking about welcome bonuses and trading contests specifically, how new and existing traders can benefit through increased participation and loyalty to the platform.

Welcome Bonuses

These welcome bonuses provide skill-building opportunities to new traders and can help them significantly with their starting capital amount.

• No-Deposit Bonus—This is the simplest form of a welcome bonus found on any trading app. In this case, Pocket Options is offering a small bonus to new traders simply for signing up for a new account. No deposit is required.
• Deposit Match—A percentage of a trader’s initial deposit is added as a bonus to get a new trader off to a strong start.
• Risk-Free Period—This type of welcome bonus offers traders a chance to recoup their trading losses. The risk-free period represents the time frame where any losses are refunded, almost as a guarantee to newer investors or traders.
• Free Trades—Another common welcome bonus is free trades, where newcomers can get a set number of traders for free. They come with no commissions or fees!
• Education Package—Anyone joining Pocket Option can access free educational resources or courses to learn the in and out of trading options or pocket options.

Terms & Conditions

Pocket Options’ bonuses come with wagering requirements, but they will be different from one promotion to the next. These requirements mean you need to trade a certain amount of money before you can withdraw any of the profits made using the bonus funds. The number of times is usually expressed as a multiplier.

A good example of a wagering requirement for a Pocket Option bonus would be a 10x requirement on a $100 bonus. You would not be able to withdraw any of the profits made using those bonus funds until you trade a total of $1,000.

Who Is Pocket Option Best Suited For?

Pocket Options can be used by any sport of online trader or investor, regardless of the level of skill or experience. All types of traders can find something here to appreciate and enjoy, but we’d encourage anyone reading this to try out the platform for themselves to find out if it’ll be a good fit. The demo accounts are especially helpful in determining if Pocket Option is the right platform for you.

Beginner Traders

We found there to be several tools offered up at Pocket Option that work well for traders who are brand new or have only minimal experience:

• Demo Accounts—Newbies can practice trading using virtual funds in a risk-free learning environment.
• Technical Indicators—These tools allow new traders to analyze price trends and patterns to make the best decisions rooted in hard data.
• Social Trading—New traders can watch the moves of seasoned traders to learn from their strategies.
• Economic Calendar—Learn about economic events and data releases which can help newer traders to understand market-moving events and the impact they play while trading options.
• Risk Management Tools—New traders can learn all about taking profit and limiting their losses with the use of risk management tools which teach newcomers how to ride out profitable traders and cut loose from those that are in decline.

Intermediate Traders

If you find yourself with enough experience to not be classified as a new trader, but not enough experience under your belt to be considered a professional or seasoned trader, you can find the educational tools needed to take your experience to the next level. Pocket Option comes with market analysis, webinars, and tutorials that are perfect for intermediate traders (or traders of any skill level).

Intermediate traders can access tools to employ different strategies like various order types (market, limit, or pending), technical analysis tools (moving averages, relative strength index, etc.), and discover support and resistance levels.

Advanced Traders

In addition to the potential for higher returns that can be expected from pocket trading, several advanced tools make for a more sophisticated options trading experience. Technical indicators that we’ve mentioned for beginners and intermediates are still available for seasoned traders, too, but there are also valuable resources like customizable charts and real-time market analysis for busy traders who need to access the numbers they need to make timely trading decisions.

Final Verdict

What’s our consensus on Pocket Option? Keep reading to see our final recommendation, along with a summary of the key features and benefits you’ll be able to enjoy when you sign up as an official member of the app or website.

Summary of Key Points

While Pocket Option has plenty of features and tools that work well for beginners and advanced traders, it might not carry all of the expected benefits for seasoned traders that some other trading apps might feature. There are a few concerns with regulations and regional restrictions too, which could make it less than ideal for some traders based on where they live.

Recommendation

Pocket Trader is especially useful if you’re looking for a simplistic design, decent educational tools for learning the tricks of the trade, and if you’re looking for fast order execution. The app also provides a good mix of investment opportunities and asset classes, but it’s suited best for newbies or investors who have more experience but aren’t quite at the level of being active, expert traders.

Explore the Pocket Option or sign up for a new account. You can read up on how to do this in the Account Set Up Verification section of our review. If you’d like to use the demo account, you can do so without having to sign up for a new account. Simply visit the website or open the mobile app and click or tap on “Free Demo.”

Frequently Asked Questions About Pocket Option

We took some of the most popular questions from our readers and customers and boiled them down into this succinct FAQ section where you can get the key highlights of what we’ve covered in this Pocket Option review.

Is Pocket Option Legit?

It has over 100,000 active users and over 10 million customers total. Customers hail from over 195 countries. In terms of money, Pocket Option has over $500 million in trading turnover, and the average trader income is over $850 per month.

What Payment Methods Does Pocket Option Accept?

Pocket Options accepts a wider range of payment methods, including credit/debit cards like Visa and Mastercard, e-wallets like Neteller, Perfect Money, or Skrill, cryptos such as Ethereum or Bitcoin, and bank or wire transfers. This variety of banking methods caters well to newer traders as well as seasoned traders who would like to make larger deposits.

Is Pocket Option Regulated and Safe?

Pocket Option is regulated and licensed by the International IBC Regulation Act 2014 Brokerage License from the Autonomous Island of Mwali (Mohéli) Comoros Union. Infinite Trade LLC is registered at the Republic of Costa Rica, San Jose- San Jose Mata Redonda, Neighborhood Las Vegas, Blue Building Diagonal To La Salle High School with the registration number 4062001303240. It is also certified by international security licensing, showing that it takes its users’ confidence and safety seriously.

Are There Any Hidden Fees?

Traders will find a transparent fee structure at Pocket Options, where there are no hidden fees. You don’t have to worry about inactivity, swap, or currency conversion fees either. Take Pocket Options as an enticing option for traders or investors who want to keep their costs low while trading online.

How Does Their Demo Account Work?

Like most other trading apps that have a demo account, Pocket Options offers a demo account that lets traders practice trading using a virtual balance so they don’t have to use their own money. These accounts simulate real market conditions, which let traders practice without any real risk. Traders can have access to all the features that are found using a real account: live trading, tools, instruments, and other functionalities.

Can Beginners Trade Successfully on Pocket Option?

Pocket Options has some impressive educational features that cater well to traders from all sorts of experiential backgrounds. The demo account offers a risk-free learning environment. The economic calendar helps traders understand market-moving events. Technical indicators assist newer traders in making data-driven decisions. There are also risk management tools that help secure profits and control potential losses.