Pocket Option

Pocket Option is a binary and OTC options broker providing forex, stocks, commodities and indices assets. The firm offers a proprietary comprehensive trading platform that users can access via a free demo account. There is also a range of feature-rich live accounts which can complement strategies for beginners, as well as expert traders. Our 2024 Pocket Option review explores the login process, fees, bonuses, payment methods and more.

What Is Pocket Option?

Company Details

With four asset classes available, clients can access a range of binary and over-the-counter (OTC) options. The broker aims to provide an accessible and convenient service on an innovative platform, ideal for swing traders. Flexible features are also available, such as signals, bots and copy trading, with potential payouts ranging from 45% to 80%.

History

Pocket Option’s official website and company is owned and managed by Gembell Limited, with its office registered in the Marshall Islands. Although only founded in 2017, the broker gained over 100,000 active users in 95 countries by the end of the year. Since then, it has grown significantly, reaching the 1 million user mark in 2018 and over 10 million registered clients by 2019.

Markets

The broker offers binary or over-the-counter options (OTC), meaning contracts can be traded off-exchange via private transactions between two counter-parties (the buyer and the seller). Pocket Option offers 100+ assets across four classes, including:

• Indices – 10 market indexes including FTSE100
• Commodities – 5+ commodities such as gold, silver and crude oil
• Stocks – 20+ company stocks including market leaders such as Apple and Amazon
• Forex Pairs – 25+ currency pairs including majors such as USD/GBP, as well as minors and exotics

Note: Pocket Option does not offer any form of crypto trading.

Trading Platform

The broker offers its own bespoke trading platform. The Pocket Option terminal is straightforward and comes with a range of competitive trading features, including signals robots, APIs, copy and social trading, price indicators and plenty more.

Key features include:

• 30 technical indicators, including Bollinger Bands and Moving Averages
• In-platform live chat for broker and trader support
• 9 drawing tools, including Fibonacci Retracement
• 14 time frames, from 5 seconds to 1 day
• Trading analysis and economic calendar
• 4 chart types with multiple layouts

Web Platform

On the official website, there are PC download links (specifically for Windows applications including Windows 7), mobile apps (both Android and iOS), web applications and a telegram bot, which provides free signals. The level of accessibility that Pocket Option offers is on par vs leading trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Mobile Trading

Pocket Option provides access to its broker platform via mobile apps available to download for free from Android (via Google Play) and iOS (via Apple App Store). The applications have been developed to cope with the innovative proprietary platform, allowing traders to monitor positions on the go. The platform on the mobile app replicates the web terminal which should give traders the same high-quality trading experience regardless of device.

Trading Accounts

Live Accounts

Pocket Option offers six live trading accounts. All accounts are suitable for swing trading and offer social trading, an unlimited number of trades, tournament access and several more benefits. The minimum balance and maximum trade amount will increase depending on profile level, as do the number of additional features:

• Newbie – Minimum balance: less than $100, maximum trade amount: $100
• Beginner – Minimum balance: $100, maximum trade amount: $100
• Experienced – Minimum balance: $1,000, maximum trade amount: $1,000
• Master – Minimum balance: $5,000, maximum trade amount: $2,000
• Pro – Minimum balance: $15,000, maximum trade amount: $3,000
• Guru – Minimum balance: $50,000, maximum trade amount: $5,000

Demo Account

When we compare Pocket Option’s demo vs other brokers such as IQ Option and Olymp Trade, the offering is competitive. The broker offers a free platform demo with $10,000 pre-included. Here, traders can test their skills and determine the best trading strategy before putting any real funds down.

Although the demo solution is ideal for practising a 5 second, 15 second, 1 minute or 2 minute trading strategy, we would associate these more with quick trading styles such as scalping or day trading. Thankfully, there are plenty of other time intervals to choose from, making the simulator account a good choice for all trading styles.

Fees

Pocket Option offers a low fee trading experience that is similar vs some direct competitors such as Quotex and Nadex. Rather than charging high commissions or imposing deposit and withdrawal fees, the broker caps the payout of each instrument available to the trader. This means that the trader retains a proportion of the value of the trade and the remainder goes to the broker.

Pocket Option is known for having high payouts ranging mostly from 45% to 80%. The level of return varies depending on the asset being traded, so ensure you are familiar with payout percentages before investing.

Pocket Option Payments

One of the advantages of trading with Pocket Option is the range of payment methods available to deposit and withdraw. There are no deposit or withdrawal fees, however, payments are required in USD and therefore currency conversion fees may apply.

Popular methods include:

• Debit/Credit Card (including Visa and Mastercard)
• E-payments (including Perfect Money and Webmoney)
• Cryptocurrencies (including Bitcoin, Ethereum and Ripple)

Deposits

Pocket Option set minimum deposit limits depending on your profile level. Once a trader has selected what profile level they want, the depositing method is straightforward. Processing times will vary depending on payment method but transferss can take anywhere between 3 to 45 working days.

For those who need help, there is a comprehensive guide on how to deposit in the broker’s FAQ section.

Note: It is common for brokers like Pocket Option to offer a no deposit bonus when signing up, so make sure to check this at registration.

Withdrawals

Withdrawals are relatively low cost with a minimum withdrawal limit of $10. Processing times start from 3 business days. If the broker is facing withdrawal issues, they typically notify the customer that the processing time is likely to increase.

Pocket Option withdrawals do not require proof of identity and the broker also offers a detailed ‘how to withdraw’ tutorial in the FAQ section.

Regulation

Pocket Option’s owner – Gembell Limited, is a registered company in the Marshall Islands that is regulated by International Financial Markets Relations Regulation Centre (IFMRRC). Traders may question if Pocket Option is legitimate and safe since it isn’t governed by a reputable financial body, such as the FCA. With that said, binary options are still a largely unregulated area, especially outside of the USA. Nonetheless, the broker does implement an Anti-Money-Laundering (AML) and Know Your Customer (KYC) Policy.

Pocket Option Security

As outlined above, Pocket Option implements an AML and KYC policy to protect themselves and customers from scams. To prevent hacks or compromised accounts, the broker also uses secure servers to store client data. The broker reserves the right to request ID verification upon customer registration, or at any time.

Educational Content & Analysis

Pocket Option offers a comprehensive FAQ section on their website which acts as a tutorial and education centre. Articles found online provide investors with detailed trading guides (including strategy), instructions on how to use a variety of broker features, as well as offering support for technical issues.

Pocket Option also promotes several news sections where customers can view hot topics as well as the latest published articles. There is also a good volume of YouTube videos and guides, which are useful for both beginners and seasoned traders.

Another key service is the brand’s social trading tool. This lets newbies mirror the positions of proven traders while retaining control over position sizes and risk management parameters. The platform is a great way to learn about the financial markets and pick up tips from seasoned investors.

Social Trading

Promotions

Pocket Option offers bonus schemes and promo codes throughout the year. For example, the broker advertised a promo code in June 2021 where traders could claim a 50% bonus if they deposit $100 or more. The broker also promotes a 50% deposit bonus when customers sign up for a live account with more than $50.

In the past, Pocket Option has also offered referral bonuses, provided gifts to customers and used ‘gems’ to encourage investors to enhance their trading experience. Traders can earn gems by unlocking achievements that can be used to access additional platform features and capabilities, such as copy trading high net worth investors. Gem mining is also available.
Before signing up, be sure to look out for a new promo code and ensure bonus rules are well understood.

Advantages

There are several advantages of swing trading with Pocket Option:

• Accessible – The platform is downloadable for free to most devices (including mobile phones) as well as an online web version.
• Regular promotions – Pocket Option offers plenty of opportunities to their customers to win bonuses or alternative ways to earn outside of the financial markets.
• Comprehensive support FAQs – The broker provides a library of customer support resources where traders can read through in-depth articles to resolve any issues.
• Straightforward fee structure – Some brokers can be purposely ambiguous regarding fees, however, Pocket Option appears to be transparent with their charges and the payout percentage available on each asset.

Disadvantages

The main drawbacks to trading with Pocket Options include:

• Low selection of instruments – Compared to other brokers, Pocket Option’s product selection is limited.
• Lack of robust regulation – The broker is not registered with an industry-recognised financial regulator, such as the FCA.
• Binary options only – Traders looking for a variety of ways to invest in the financial markets may want to opt for an alternative broker.
• Limited trading platforms – Although Pocket Option does have its own innovative and easy-to-use platform, some traders may be deterred from investing if there’s no access to other platforms, such as MetaTrader 4.
• Accepted countries – The broker does not accept clients from several major countries, including the UK and USA.

Trading Hours

Pocket Option’s trading hours vary depending on the asset being traded and the trader’s time zone and location. To maximise your trading experience, be sure to familiarise yourself with the regional market hours. Most forex pairs are available from 21:00 UTC Sunday to 21:00 UTC Friday, for example.

Details of the Pocket Option market and OTC instrument schedule can be found on the company’s website.

Customer Service

If a trader’s deposit has failed, the platform is not working or they are experiencing any other issues, Pocket Option offers customers help via a few support options. These include:

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

The firm also offers a live chat to help clients with queries. Here, investors can use a comprehensive FAQ section to resolve glitches or create a support request.

Pocket Option Verdict

In the binary options space, Pocket Option is a strong contender, offering a range of assets and an intuitive platform. The broker also provides alternative ways to generate potential returns, as well as a comprehensive support portal and training materials. However, those wishing to diversify their portfolios with a wider range of trading vehicles, or looking for more robust regulatory oversight, may want to look elsewhere.

FAQ