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Pocket Option Review 2023: Is It a Reliable Binary Options Broker?

You need to find a trustworthy broker that offers a user-friendly platform, a variety of assets, fast execution, and fair payouts. One of the brokers that claims to meet these criteria is Pocket Option, an online broker that was founded in 2017 and is registered in the Republic of Costa Rica. But is Pocket Option a scam or a legit broker? This review will examine the pros and cons of the Pocket Option and help you decide if it is worth your time and money.

What is the Pocket Option?

Pocket Option is an online broker specializing in binary options trading, a type of financial instrument where you predict whether the price of an asset will go up or down within a specified time frame. If your prediction is correct, you get a fixed payout, usually between 70% and 95% of your investment. If your prediction is wrong, you lose your entire investment.

Pocket Option offers over 50 different assets to trade, including currency pairs, stocks, indices, commodities, and cryptocurrencies. You can choose from various expiry times, ranging from 30 seconds to 4 hours. You can also use different tools and indicators to analyze the market and make informed decisions.

Pocket Option has a web-based platform compatible with any device and browser. You can also download their mobile app for Android and iOS devices and trade on the go. The platform has a simple and intuitive interface that allows you to place trades with just a few clicks. You can also customize the platform according to your preferences and trading style.

Pocket Option also has some unique features that make it stand out from other brokers. For example, you can participate in tournaments and contests where you compete with other traders for cash prizes. You can also use social trading features where you can copy the trades of successful traders or share your trades with others. You can also access educational materials, market news, signals, and strategies to improve your skills and knowledge.

 Let’s dig deep into it.

With an initial deposit bonus of 50%, the Pocket Option allows a bonus on your very first deposit on the live account. However, you cannot withdraw this bonus amount until you start trading from that live account. Thereafter you can withdraw your bonus together with the amount you have in your account at that time.

Have you ever gambled before? The Pocket Option offers indicators and market signals that inform you whenever there is a rise in asset price or a fall in the value of an asset. These especially help you earn money and save your own money from loss. This is like a prediction in gambling.

You can even win achievements by trading and crossing several experience levels. Your achievements can also win you $50,000 as prize money along with some benefits like a payout bonus, trading funds, etc. You may even get some trading benefits that can aid your everyday trading sessions.

Tournaments are encouraged by the Pocket Option to bring some motivation and enthusiasm to their clients by setting up rewards and prices. It may be confused with social trading, but here, you need to participate in tournaments set on a particular timeframe to win some prizes or rewards and establish your reputation among other traders.

you can impersonate the trading strategies of other successful traders and investors to make profits from their trading techniques through social trading. In addition, novices can monitor their trading strategies and match with experienced traders to get the best out of all these practices.

Is Pocket Option Regulated?

One of the most important factors to consider when choosing a binary options broker is regulation. This ensures that the broker follows certain rules and standards to protect the interests of its clients. It also provides a level of security and trustworthiness that is essential for online trading.

The long-awaited answer is yes. Pocket Option is regulated by the International Financial Market Relations Regulation Center (IFMRRC). While the IFMRRC isn’t well-known, the platform’s longevity suggests that Pocket Option is safe, as do some of the metrics… Over ten million customers (100,000+ active users).

In Kenya, Pocketoption.com is believed to be part of Infinite Trade LLC regulated by MISA (Mwali International Service Authority), license number T2023322.7 Nov 2022.

Does the Pocket Option even have an account?

The answer to your question is yes, it does. Much more than you could imagine. Let us take a look at the accounts available in Pocket Option.

What are the Advantages and Disadvantages of Pocket Option?

Like any other broker, Pocket Option has its strengths and weaknesses. Here are some of the main advantages and disadvantages of trading with Pocket Option:

Advantages

• Low minimum deposit: You can start trading with as little as $10, but if you want to get a bonus you are advised to deposit a minimum of $50.
• High payouts: You can earn up to 95% of your investment per trade.
• Variety of assets: You can trade over 100 different assets from various markets.
• Flexible expiry times: You can choose from short-term and long-term options.
• User-friendly platform: You can easily navigate and customize the platform according to your needs.
• Mobile app: You can trade on your smartphone or tablet using the mobile app.
• Unique features: You can enjoy features such as tournaments, social trading, education, signals, and more.
• Bonuses and promotions: You can get a 50% bonus on your first deposit and participate in various promotions and rewards.
• They have a demo account where you can practice your skills with a virtual account.

Disadvantages

• High risk: Binary options trading is very risky and you can lose all your money in a matter of seconds.
• Withdrawal fees: The broker charges fees for some withdrawal methods, such as bank transfers and e-wallets.
• Customer support: The broker does not have a phone number or a live chat option for customer support. You can only contact them via email or a web form.

Up until now, I am so glad that we are still together. Now let’s get to business and learn the process of trading in Pocket Option.

Here are the preferred ‘Steps for registration in Pocket Option‘.

• Visit the homepage and click the “START IN ONE CLICK” button that appears in front of you
• Click on “CONTINUE DEMO TRADING” to use the demo account at first
• Once you have practiced enough, click the “Registration” button in the bottom left corner
• Now choose one of the three methods (via email, Google, or Facebook) to create your account
•  Verify your account. You need to enter your personal information and upload your ID and address documents to confirm your identity comply with the anti-money laundering and know your customer policies.
• Deposit funds to your account. You can choose from various payment methods, such as credit cards, e-wallets, cryptocurrencies, or bank transfers. The minimum deposit amount is $50¹.
• Start trading on the platform. You can select from over 100 different assets, choose your expiry time, set your trade amount, and place a call or put an option depending on your market analysis. You can also use tools and indicators to help you make informed decisions

How to deposit in-pocket option

Well after registration you sure do need to deposit to begin trading, with real money.

To deposit money in pocket option, you need to follow these steps:

• Log in to your pocket option account and select the “Finances” option from the menu.
• Choose the “Deposit” section and select your preferred payment method from the list of available options.
• Enter the amount you would like to deposit and complete the payment process.

How to withdraw from Pocket Option

Everything with a beginning has its end. Likewise to the Pocket Option if you deposit you aim at withdrawing one time.

There are several steps you need to follow to withdraw your funds from Pocket Option:

• Log in to your trading platform account using your username and password.
• Go to the “Finance” – “Withdrawal” page.
• Enter the withdrawal amount, choose an available payment method, and follow the onscreen instructions to complete your request.
• Confirm the withdrawal; Pocket Option will send you a personal code via Email, which you have to type in the website’s application form.
• Wait until the withdrawal arrives (the withdrawal duration depends on the payment method). To prove that your withdrawal has arrived, check the account history.

Please note that the minimum withdrawal amount may vary depending on the withdrawal method, and You may also need to verify your payment method or identity before withdrawing your funds.

How to trade in pocket Option

Well, I presume you are wondering how to trade in Pocket Option in case it is your first time to trade.  Worry less no more, for I am here to keep you covered always.

• Gather data on the market. You must be well-captured of the organization you are trading with to be a successful trader. You have to understand how Binary Options work to find the best trades.
• You ought to be informed of how long a trade may last in the Pocket Option to help you predict the future flow of the graph.
• You have to believe in yourself while making a trade and always follow your instincts. Well everybody has an interest and it will serve you better to invest in your preferred market type.
• Do you have an interest in any of the market types yet? If yes, then you need to go for a price and trade duration that suits you.
• You are now free to make your trade by selecting the flow of the asset price, whether it will rise or fall by your timeline.
• Up to this level, you are now done and what you have to do now is relax and watch the trade. If your prediction was right and the period you chose elapses congrats on your win, but in case things don’t go well for you this time don’t give up for there is always a next time.

Policies favoring you as a client in Pocket Option

• Privacy Policy: This policy states that the broker collects and stores some personal data from its clients, such as email, password, name, and address. The broker also says that it may disclose this data to official authorities if required by law or to verify the identity of the clients. The broker also says that it may use this data to send advertising content to the clients unless they opt out of it.
• AML and KYC Policy: This policy states that the broker prohibits and pursues the prevention of money laundering and any activity that facilitates money laundering or the funding of terrorist or criminal activities. The broker also says that it requires its clients to provide certain identifying documents and any other documents required by the broker. The broker also says that it follows the relevant laws and regulations regarding anti-money laundering and knows your customer.
• Payment Policy: This policy states that the broker is financially responsible for the client’s account balance at any moment. The broker also says that its financial responsibility starts with the first record of the client’s deposit and continues until a full withdrawal of funds.
• It also ensures secure login and withdrawals with a 2-factor authentication.

Conclusion

Pocket Option is an online broker that offers binary options trading, a type of financial instrument that can generate high returns but also carries high risks. The broker has a user-friendly platform, a variety of assets, and some unique features.

However, you should always learn to control your urges and never invest your total savings into trading at the beginning, as it may incur severe losses as well.

We hope that this review has helped you to understand more about Pocket Options and binary options trading. If you have any questions or comments, please leave them below. Thank you for reading!