PocketOption Review

PocketOption
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Overview

PocketOption is the new binary options broker that offers trading in its own terminal, social trading, quick withdrawal in various ways, etc.

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Details

BrokerPocketOption
Website URLpocketoption.com
Founded2017 year
HeadquartersTrust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands
Support TypesEmail, Chat, Telegram, Website Feedback Form
LanguagesEnglish, French, Italian, German, Korean, Turkish, Malaysian, Spanish, Estonian, Indian, etc
Trading PlatformAuthor's platform
Minimum 1st Deposit50 USD
Minimum Trade Amount1 USD
BonusDeposit bonus
Free Demo Account Open Demo
Regulated Yes
Commissions Yes
Account TypesDemo, Beginner, Beginner, Experienced, Master, Professional, Guru
Deposit MethodsMastercard, Qiwi, VISA, Webmoney, Bank transfer, Cryptocurrencies, World, Mobile transfer, Yandex.Money
Withdrawal MethodsMastercard, Qiwi, VISA, Webmoney, Bank transfer, Cryptocurrencies, Mobile transfer, Yandex.Money
Number of Assets100+
Types of AssetsBinary Options, Stocks, Indices, Raw Materials, Cryptocurrency
Option TypesMastercard, Qiwi, VISA, Webmoney, Bank transfer, Mobile transfer, Yandex.Money
Account CurrencyEUR, USD, GBP
US Traders Allowed No
Overall Score9/10

Full Review


The PocketOption Binary Options Broker is owned by Gembell Limited company registered in the Marshall Islands offshore jurisdiction. Despite the possibility of using the website pocketoption.com in different languages, the public offer agreement is presented by the company in English and Russian only, which suggests that the main bias in its activities it makes to the Russian and English audience.

Still, is PocketOption a swindle or a binary options broker worthy of your attention? We answer these questions in today’s review.

 

PocketOption trading conditions

The PocketOption Company offers its clients simple and clear terms of binary options trading. The broker has assets in his stock, the list of which includes both the most popular and exotic currency pairs, commodities (gold, oil), cryptocurrencies, as well as a significant number of shares of American and European companies.

PocketOption – is it a scam? Reviews

The company also offers its clients the opportunity to use the complementary services of the website pocketoption.com, such as free signals, social trading, participation in tournaments. Also important is the fact that any client of the company who wants to get acquainted with the rules of service, can do it easily and simply by reading the Terms and Conditions.

PocketOption Binary Options Broker trading conditions

The well-designed interface of the website and online platform provided by PocketOption allow any client to easily find the necessary information here. Intuitive web platform will allow you to make transactions without the need to learn its functionality. Moreover, the company offers its users the opportunity to use a demo account, which will allow the client to try his or her hand at it without investing his or her own funds, trading tips, and a training course on the platform (binaries trading training).

pocketoption.com Binary Options Broker advantages

 

PocketOption platform

The trading platform from the company PocketOption is one of the most convenient among binary options brokers. It is an author’s product that was developed and implemented on the platform of the company. Its convenience consists in the possibility of using the terminal in a web browser from any computer without the need to install additional software, and in the number of presented instruments, high comfort of working with them.

pocketoption.com platform

One of the important advantages of the platform is the presence of a significant number of indicators for binary options compared to competitors, among which there are oscillators that open in a separate window under the main chart. Such a set of instruments allows the company’s clients to perform their transactions more confidently, filtering the true signals from the market noise inherent in the market.

pocketoption.com how to trade on the platform

Also, the PocketOption terminal has a standard package of tools for graphical analysis, ranging from simple horizontal lines to the possibility of overlapping on the chart of Fibonacci levels. However, it is worth noting that, despite the convenience of using the web terminal, the client will need to provide a stable Internet connection in order to ensure that failures in its work do not affect the results of trading.

Also, one of the important points is that the company offers binary options with different expiry dates – from 1 minute to 4 hours on its platform. Such an opportunity can be used not only for short-term risk hedging when buying a particular instrument on the market, but also for long-term investments. Talking about hedging in more detail, it should be noted that such a strategy is considered to be a standard one for large management funds, which, by acquiring a certain asset, insure themselves by purchasing an option directed in the opposite direction. Of course, in such strategies large companies use real market option contracts. However, the time period of 4 hours offered by PocketOption allows any trader to try and test professional methods of capital management.

Pocket Option trading strategies

Advantages of the PocketOption terminal:

  • Reliability, stability, security.
  • Availability of a demo account at PocketOption.com.
  • Intuitive platform interface.
  • Ability to add indicators to the chart for market analysis.
  • Large selection of different assets (currency pairs, indices, stocks, cryptocurrencies).
  • Choice of exposure (1 minute to 4 hours).
  • Availability of signals, analytical and training materials.

PocketOption quotations

PocketOption does not disclose any quotes on its quote provider’s website. Moreover, the company notifies the client in advance that if the client starts working in the terminal, accepting the Terms and Conditions offered by it, then any comparison with other quotes (possibly, charts from the exchange) are not taken into account. The data provided by PocketOption are accepted as unconditionally correct and not subject to discussion.

 

PocketOption demo account

A demo account for options trading is available on the platform. One of the advantages is that in order to use the demo account, the client only needs to switch to the demo mode on the website pocketoption.com without having to fill in the registration form or enter any contact information.

However, the demo mode of the platform from PocketOption is aimed only at familiarization with the program interface. In order to help the trader, a guide through the platform is connected, which shows the client its main features in a few steps. At the same time, it is not possible to evaluate the client’s analytical skills using the demo mode, as the quotes stream in this mode is emulated randomly. Even by including a demo account at the weekend, the client will be able to see the changing charts of instruments that are not currently traded on the exchange due to its closure.

Thus, it is absolutely impossible to check how the emulated chart moves and how the deals made in the demo mode are executed. After all, if the program in the demo mode is programmed for the mandatory movement of the chart in the direction of transactions, it can greatly change the subjective assessment of the client’s skills, which in the future will lead to a loss of money when moving from the demo to a real account.

PocketOption demo account

 

Pocket Option mobile application

Following the trends in the industry, the company provides its clients with the opportunity to trade using mobile applications. From the company’s website you can switch to marketplaces Google Play and App Store where you can download applications for iOS and Android.

Pocket Option mobile application

 

PocketOption bonuses

Clients of the company at the first replenishment have an opportunity to increase their deposit twice, using bonus funds provided by PocketOption. This bonus is available only to the clients who deposited here for the first time (the best bonuses of binary brokers).

 

Deposit and withdrawal

The possibilities of depositing and withdrawing funds in the company are presented in various ways – from payment systems to mobile transfers and cryptocurrency wallets (Bitcoin, Ripple etc.)

  • Bank cards Visa, MasterCard.
  • Bank transfers.
  • Mobile transfers.
  • QIWI.
  • Yandex.Money.
  • Webmoney.
  • Bitcoin.
  • Ripple.
  • USD Techer etc.

The funds replenishment mainly takes place in the automatic mode. However, in case of failures in the system and the need to make a payment manually, the project may require the client to provide information about the date and time of transfer, the name of the payment method, the identification number of the transaction, the sender’s and recipient’s wallets.

Withdrawal of funds under the terms of the public offer, published on the site PocketOption.com, is always made in the manual mode and is carried out within 3 working days. However, the company reserves the right to increase this period up to 14 days, after notifying the client. At a withdrawal of funds the client should use the payment system used by it and for replenishment, the minimum sum of replenishment thus makes 50$, and the minimum withdrawal sum is 10$.

pocketoption.com deposit and withdrawal

 

Complaints against PocketOption

Complaints on PocketOption in a network fluctuate from extremely negative to very positive. This situation is common in the sphere of binary options (the basis of binary options). Negative reviews are almost always the same and similar to similar reviews and other platforms of this type. In particular, a lot of feedback starts with the banal blocking of accounts by a broker when trying to withdraw money, with requesting documents to the extent of 2NDFL (income tax certificate) for the withdrawal. At the same time, according to the description of such situations, the broker does not refer to the points of the agreement in any way, does not try to justify its position.

Positive reviews are also available and not few of them, they usually look the same and sound one-sided. Clients who leave these reviews, talk about long-term cooperation with the company, rapid withdrawal, quality training, interesting platform, often praise it, comparing it with other brokers.

If we find complaints about PocketOption, we will post it on social media. Follow us to be well informed:

 

PocketOption broker regulator

PocketOption User agreement

«User Agreement» is a document that in most cases helps a potential client to form an informed opinion about the company, to know clear rules of work with it, which can help him to avoid negative situations in the future. Let’s review the user agreement of the PocketOption company, which is a public offer agreement and is located on the website pocketoption.com. Let’s start with the fact that any client of the company should be ready for the fact that the company can request from him a package of documents confirming not only his identity, but also his financial activity (paragraph 2.2.3.). At the same time, the company does not provide a list of possible documents in its offer:

Pocket Option identity documents

Already in the next paragraph 2.3. the company notifies its client that he can have only one trading account, and in the case of an attempt to register a trading account again, it is not only entitled to terminate the contract unilaterally, but also to reset the trading account, regardless of whether there are earned funds or just funds that have never participated in trading operations:

pocketoption.com opening a customer account

Further, in its public offer agreement, the company discloses the issues directly related to trading. In particular, Clause 2.7. notifies the clients that it carries out quotations using its own sources of quotations and no other sources of quotations can be taken into account in case of disputes. In simple words, the chart in the company may differ from the real exchange prices:

pocketoption.com binary options broker quotes

In p. 2.9. the company prohibits the client from resorting to any type of fraud, which, by a strange coincidence, includes hedging of transactions. Having deepened in history of occurrence of option contracts, it is necessary to notice that the main purpose of their occurrence was hedging, that is insurance of risks. But, judging by this point, the company requires customers to use the contracts provided to them for other purposes than those generally accepted:

Pocket Option prohibition of user fraud

The next paragraph 2.10. of the contract is quite peculiar. It states that the company reserves the right not only to terminate the contract, but also to nullify the results of trading the client, if it discovers unfair attitude of the client to the company. Unfair attitude not only includes, but is not limited to insulting employees, publication of negative feedback, etc.

pocketoption.com termination of the contract with the trader

Clause 2.11. states that the company may prohibit its clients from using the possibility of copying transactions of other clients within the framework of the services provided, if the client will trade small bets:

pocketoption.com social trading

P.4.2. concerning the provision of quotations discloses the formula used to form the data to be transmitted to the terminal. They are formed at a price that also differs from the brokerage services industry price. This confirms the impossibility of using market analysis methods on the platform, as different quotes with exchange quotations will significantly reduce the probability of implementation of analytical forecasts:

pocketoption.com quote calculation

P.4.8. informs the client that the amount of premium in case of a positive outcome of the transaction is not fixed, but determined by the company in percentage, which the client can see immediately before the transaction. That is, perhaps, the premium in certain cases can be much less than originally declared:

Pocket Option client bonus size

Confirms the above paragraph of the following paragraph 4.11.2., which reveals the above assumptions directly. In turn, this situation suggests that all the conditions, which can be interpreted in two ways, will eventually be interpreted in favor of the broker:

pocketoption.com profitability level of transactions

P.5.3. informs the client that the deal opened by him at one price can be executed at another, less profitable. But in this case the reason for this may be the incorrect operation of the software or hardware:

Pocket Option client transaction adjustment

 

Is Pocket Option a scam?

Having considered more closely the activity of the broker PocketOption, it is possible to notice – despite the fact that he has started to work not so long ago, however he is ready to offer the client a number of possibilities for earnings from binary options. An interesting platform for work, the author’s terminal, a lot of options for replenishment and withdrawal of capital, the option of social trading, demo trading, etc. – All this shows that the project has been prepared seriously enough to work on the market, it has a number of differences from other companies that provide their services to clients for a much longer period of time. There are also opportunities for training in trading on the platform, clients are provided with analytical materials.

Note that the non-disclosure of information about the liquidity provider, the own scheme of calculating the quotes indicate that the broker may have a lot of opportunities to get rid of the unwanted client, citing fraud or just drawing him a non-market quote, as a result of which the client will suffer a loss. Should we definitely conclude that this is a fraudster? A number of brokers, including those who have an official registration in our country, do not provide data on quotes in order to maintain commercial secrecy. Of course, working on the platform is always a risk, it is important to follow the terms of the contract, to understand that the company monitors the activities of customers.

It should be noted that there are different reviews of the project in the network, but most of them are still positive, which also allows you to trust the company. Regulation is also an element of trust, allowing you to work here safely. PocketOption is a swindle? Although the company has yet to show its full potential in the market, it already has the potential to do so.

 

Summary

Trading binary options is especially popular today because of the simple principle of work. PocketOption is a new broker of the market, which is ready to offer a trader a number of opportunities to earn money from investing in options. Is it worth trusting this novice project? How will he show himself in communication with a real client? These questions have yet to be answered, but we hope that the broker plans to achieve serious results in the market, to gain the trust of clients.

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