Pocket Option review 2023: pros & cons

Pocket Option Review: How they Stand Out

Before we get into the details, here is a quick review of the pros and cons of Pocket Option.

Pocket Option Perks:

• 4.1 rating on Trustpilot – There are lots of happy Pocket Option customers.
• Built in trade signals – The Pocket Option platform provides a steady stream of trade recommendations based on technical analysis. You can also copy other traders’ trades.
• Deposit bonus – a 50% bonus on your first deposit.
• No fees – Pocket Option doesn’t charge withdrawal or deposit fees, nor trading or account fees.
• Lots of asset choices – Trade stocks, indices, currencies, commodities and cryptocurrencies.
• Cashback on losing trades for certain accounts.
• Social trading – copy trades, shares trades, and talk with other traders.
• Wide array of deposit and withdrawal options.
• Expiry times: between 5 second and 4 hours.

Pocket Option Disadvantages:

• Minimal regulation – Pocket is regulated by the IFMRRC, a pay-for-membership organization with minimal legal authority.
• Conflicting information – the website provides conflicting information on its website, including who owns the company, the minimum trade size, the minimum deposit size, and payout amounts.
• Low payouts – While several assets pay 92%, many are way less. Some payouts are as low as 15%. At that level, it takes seven winning trades to make up for one losing trade.

More details on all these points are below, along with a lot more to know about this broker before you sign up.

Pocket Option Regulation and Reputation Review

Pocket Option is a regulated broker and has a high reputation score on TrustPilot.

Pocket Option is regulated by the International Financial Market Relations Regulation Center (IFMRRC). This is better than no regulation, but keep in mind that the IFMRRC is a pay-for-membership organization. Brokers apply and then must adhere to guidelines and rulings laid down by the IFMRRC.

On TrustPilot, the broker has a score of 4.1 based on more than 2000 reviews. Pocket Option is not available to residents of EEA countries, USA, Israel, UK, or Japan, the IFMRRC is like the Financial Commission, another self-regulated organization, who oversees brokers like Olymp Trade and Grand Capital.

The broker boasts an expansive user base. At any given time, there are usually more than 9,000 traders online. The company claims to have more than 10 million active traders, and they also claim the average profit per trader is more than $850 per month. Unfortunately, there is no way to verify this information.

WHERE IS POCKET OPTION BASED?

Pocket Option doesn’t have trading fees in terms of commissions.

Pocket Option does not make money from commissions, rather it makes money on the difference between what people bet and the payouts they receive.

They also don’t charge fees on withdrawals or deposits (although each payment provider may have their own fees). If trading forex on MT5, there are no commissions, but spreads start at 1.1 pips.

Product Offerings and Trading Conditions

Pocket Options provides more than 100 assets to trade with payouts up to 92%.

While the site says it offers payouts up to 218%, this is only likely in very rare circumstances, if ever. Nowhere could I find a payout over 92% while trading. The highest payout typically offered in the trading platform is 92%. Payouts may change with changing market conditions.

Some assets have payouts as low as 15% to 40%. Beware of these. At a 15% payout, it takes seven winning trades to make up for one loss. Even at 40%, you need to win more than twice as often as you lose just to break even.

The minimum trade size is $1. On the website, it says that the minimum trade size is $5, although trades of $1 are accepted. Trading is offered on currencies, commodities, stocks, cryptocurrencies, and indices.

Forex pairs include:

EUR/USD, CAD/JPY, AUD/NZD, USD/RUB, AUD/USD, USD/CAD, NZD/JPY, CAD/CHF, EUR/CHF, CHF/JPY, and many more.

Tradable commodities are:

Gold, Brent Oil, WTI oil, Silver, Gold, Natural Gas, Platinum, Palladium

Tradable stocks:

Apple, Citigroup, Tesla, Intel, McDonald’s, American Express, Johnson & Johnson, Visa, FedEx, Cisco, Exxon, Alibaba, Amazon, Microsoft, Meta, Pfizer, Netflix

Pocket Option Cryptocurrencies:

Ethereum, Dash, Bitcoin, BCH/EUR, BCH/GBP, BCH/JPY, BTC/GBP, BTC/JPY, Chainlink

Pocket Option Indices

AUS 200, US 100, DJI30, SP500, E50EUR, D30EUR, JPN225, F40EUR, 100GBP, E35EUR

Pocket Option Account Types Review

As we move forward, there’s something I need to address. Yeah, it’s the demo account. It’s a must-have if you are a beginner. But does Pocket Option have it?

There are Stranger, Newbie, Beginner, Experienced, Master, Pro, and Guru trading accounts.

The difference between the accounts is the minimum account balance. The more in the account, the more benefits. Key perks include:

• Increased payouts starting at the Experienced level
• MT5 forex trading
• Quicker withdrawal times
• Discounts in the marketplace (where you can purchase trading advantages)
• Gems mining and lotteries (can be used to purchase trading advantages)
• Tournaments with prizes

This makes the trading experience almost like a video game. If you are into that, that’s great. If not, just ignore it all and focus on the trading.

Pocket Option Trading Platform Review

Trade via the web application (no download required) or via your Android or Apple device.

The Pocket Option Trading platform allows you trade from anywhere. Simply go to the Pocket Option website and sign in, or download the app to your phone. Trading on the platform is relatively straightforward.

Select an asset to bring up the chart. You’ll see the payout amount, and you can also choose your expiry and investment amount. In the case of the web app, it can be found along the right side.

Along the right edge there are a number of other features:

• Trades – is a record of your currently open trades, as well as your past trades.
• Signals – is a list of trading signals based on technical analysis.
• Social Trading – is where you can copy the trades of other trades, or share your trades.
• Express Trades – take multiple trades at the same time.
• Tournaments – see current or upcoming tournaments. They are often free or may have a small registration fee, with prizes to be won.
• Pending Trades – create a trade to be deployed at future time.
• Hotkeys – see hotkeys for making rapid trades.

Along the left there are more options:

• Trading – this is the tab you trade from.
• Finance – this is where you deposit and withdraw from
• Market – this where you can purchase trading perks
• Achievements – your rewards are collected here. Some can be spent in the Market.
• Chat – chat with support or other traders.
• Help – Access guides and other helpful resources.

Charting options are along the top of the chart. You can choose between Line, Candle, Bar, or Heiken Ashi charts. The following indicators are available on the platform:

Overall, the platform does what it is supposed to. Orders are deployed quickly and it has some technical analysis functions. Traders with a balance over $1000 can also access the MetaTrader 5 platform and trade forex with spreads starting at 1.1 pips. MetaTrader 5 offers some more advanced trading options suited to experienced traders.

Pocket Option Promotions and Bonuses

Pocket Option offers deposit bonuses and pays interest up to 10% on unused deposits via My Safe.

You can receive a 50% deposit bonus when you open a live trading account. A deposit bonus increases the amount of capital you can trade with. For example, if you deposit $1000, a 50% deposit bonus means you can trade with $1500 in capital.

Deposit bonuses can’t typically be withdrawn. Pocket Option also offers interest on your balances in a My Safe account. Earn up to 10% interest per year. This is a great feature not offered by many brokers.

Pocket Option Deposit and Withdrawal Choices

Pocket option has a large number of deposit and withdrawal choices – one of the most you will find from any broker.

Pocket Option doesn’t charge for deposits or withdrawals, although the payment processor may charge a fee. The minimum deposit and withdrawal amount is $10. Pocket Option offers a wide variety of payment methods:

There may be additional payment and withdrawal options based on where you are located.

Pocket Option Tournaments and Other Perks

Tournaments are free, and provide real rewards. You can also accumulate gems to get trading perks.

Gems are accumulated by participating in various activities. They can then be used in the market to get trading perks, such as higher payouts.

Tournaments let you show off your trading skills and potentially earn cash prices. They are typically free to enter. These features can be enjoyable for traders who prefer to “gamify” their trading experience.

Pocket Option Customer Support

Depositing was easy, so what about withdrawals? You don’t want to miss any moola, right? Are the methods similar, or are there some other ways? Let’s find out!

You can almost always get a hold of Pocket Option customer support. Their team is very responsive to customer queries. Use the following phone number to call them.

+44 20 8123 4499

Use the Contacts page to send them a message, or access chat support. Without registering for an account, there is minimal information about what traders are getting before signing up.

Most of the perks listed by the broker in the Trading Accounts section – which requires a login to even view to find out what they are. There is no FAQ section on the Pocket Option site. The site is available in 23 languages.

Pocket Option FAQs

What is Pocket Option? 

Pocket Option is an options broker. These options are a form of trading with a fixed payout and risk. You choose whether an asset’s price will be above or below a specified price at a certain time in the future.

How to rollover on Pocket Options?

Pocket Option doesn’t provide rollover. The trade outcome is determined at the expiry time selected.

How long does a Pocket Option deposit take?

Deposits are generally put into the trading account within one day, although this also depends on the speed of the payment processor.

How long does a Pocket Option withdrawal take?

Withdrawals are typically processed within two business days. Accounts with larger balances (Master, Pro, and Guru accounts) have quicker processing times. Each payment processor has its own processing time as well, so allow for that if applicable.

What does OTC mean on Pocket Option?

OTC means Over The Counter. It means the asset doesn’t trade on an established exchange.

Where is Pocket Option located?

PO TRADE (SV) LTD is registered in St. Vincent & the Grenadine as a Limited Liability Company with the registration number 793 LLC 2021. PO TRADE LTD is registered at Rodney Bayside Building, Rodney Bay, Gros-Islet, St. Lucia with the registration number 2019-00207.

Final Word on Pocket Option Review

Pocket Option has slightly more regulation than an unregulated broker. Proceed with caution. Start with a small deposit and then build up only if things go smoothly. What makes Pocket Option stand out is that it has more deposit and withdrawal choices than virtually any broker out there. They also don’t charge trading fees or fees for depositing or withdrawing.

Don’t expect to get a lot of information from the company until you register for an account. Most of their “perks” aren’t revealed until you have an account. The company offers lots of assets to trade, but be aware of the payouts. They range from 15% to 92%.

If you are into the social aspect of trading, such as copying or sharing trades, chatting with other traders, or joining tournaments, then Pocket Option may be a good choice for you.

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