Pocket Option is a binary options trading platform which is allegedly offering bets on a variety of assets. Actually, they claim that Pocket Option is providing over 100 different trading assets on their platform. These assets include Forex, Crypto currencies, precious metals and even oil. The problem is that Pocket Option is unregulated and are based on an offshore location. That means that if you were planning to bet with such a platform, you should think again since unregulated brokers are often associated with scams. We implore you to read this review carefully because if you don’t, the most likely thing is that you will lose your money and suffer major disappointments especially if you had invested a lot of money.
Pocket Option is offering one standard account which requires a minimum deposit of $50. Leverage and spreads do not apply in binary options trading. So these are not listed on the site.
While this site is unregulated and is based in an offshore location, we find that their wide variety of trading instruments are attractive. The broker is actually offering 30 Forex pairs in addition to exotic currencies like Russian Ruble, Singapore Dollar, Polish Zloty, Turkish Lira and South African Rand. In addition to this, they are offering spot metals like silver and gold for trading. There are also plenty of stocks and Crypto currencies for trading which include Ripple, Stellar, Vertcoin, Santiment, Viacoin, Zcash, Litecoin, NEM, NEO, Bitcoin Cash, EOS, Ethereum Classic, GameCredits, Monero, Ethereum, Bitcoin and Ardor.
Having said this, we realize that this broker is still not offering the safest platform to trade with due to their shortcomings. You must not ignore the advantages that we shall list in the following paragraphs. For now, we recommend trading with regulated brokers only. You can find them on this page.
Pocket Option offers payouts of 93% for a pair like EURUSD. This is considered extremely good. There are very few brokers who offer this type of payout and if Pocket Option was genuine and legit about their business, those who want to bet on this platform would make the most amount of money.
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Note: If your language is not English, you should use the language dropdown menu at the top of their page to select your language.
However, we still encourage investors to pursue trading rather than betting. By the way, if you are looking for brokers who are offering tighter spreads on traditional Forex and Crypto currency trading, you may look at this list of brokers who have successfully and consistently provided a good service to all traders.
You can also start trading with $50 only which is an acceptable amount considering that this is binary options trading and bets are usually done with as little as $1. With most brokers, you will have to fund your account with at least $250 in order to start trading. At the same time, some big players in the market do not have a minimum deposit requirement, which is even better.
Unfortunately, the disadvantages of trading with this broker are also very real. Let’s discuss them below and if you think these are serious setbacks, you might need to rethink your decision.
Pocket Option is owned and operated by a company known as Gembell Limited which is based in the Marshall Islands. This company’s activities are overseen by yet another entity called Tifiya Group s.r.o. However, it should be noted that the European Securities and Markets Authority (ESMA) banned binary options trading in the European Union. Basically this means that all operations of this broker in EU countries are considered illegal.
Pocket Option also claims that they are regulated by the International Financial Market Relations Regulation Center (IFMRRC). But it should be noted that IFMRRC is not an official financial regulatory authority like the FCA in the UK or the ASIC of Australia. Therefore, this statement lacks credibility and we can presume that Pocket Option is not regulated at all. It should also be noted that IFMRRC is operated and managed by Russian, and the nature of their business is usually to accommodate and entertain unregulated off shore brokers.
It should also be noted that regulations are the most important factor when choosing a broker. We advice all traders to ignore brokers who are not regulated and are based in an off shore location. As a regulated broker, you can rest assured that the broker will adhere to strict professional and ethical rules. With regulated brokers, you can rest assured that they will be required to maintain a certain minimum operational capital and also maintain a level of transparency including filing reports and also participating in client compensation schemes.
MT4 trading platform is a classical trading software and any broker who does not offer this platform is definitely missing a lot. Of course this platform is used for Forex and CFD trading but its benefits are tremendous as it helps traders make informed decisions while placing trades in the market place.
Its diverse, and it supports a variety of automated trading solutions. There is simply no reason why a broker would not want to offer this trading platform on their website.
Pocket Option supports a few payment methods such as Visa, Mastercard and bank wire. Most brokers in this category support payment methods like Bitcoin and also Neteller and Skrill. While this is not necessarily a disadvantage, you may find some traders wanting to deposit using these methods and may get disappointed if their most preferred account funding methods are not supported.
While this broker looks like a professional platform for trading, their description and appearance looks like a ripe recipe for financial chaos. They are unregulated and are based in an off shore location. So there is no reason why they cannot scam you at some point. Our advise is that all serious traders must only invest with properly regulated brokers. But as for Pocket Option, this is a big fat no. In case you missed our recommended brokers who are regulated, we advise that you click this link and sign up.
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