At its core, Pocket Option enables traders to predict whether asset prices, such as currencies, commodities, cryptocurrencies, and stocks, will rise or fall in the short term. Traders can bet on bullish or bearish outcomes over set timeframes ranging from just 30 seconds to multiple months. For beginners, Pocket Option offers a demo account with virtual funds to practice trading risk-free. With minimum real money bets starting at just $1, Pocket Option provides accessible entry points to speculative trading.
In this article by Finestel, we will review Pocket Option, including its key features, functionality, pros and cons, and regulatory status of trading on the platform.
What is Pocket Option?
Pocket Option is a popular platform founded in 2017 that allows traders to speculate on financial markets through binary options, CFDs, and other derivative contracts. The slick interface and low minimum trades have attracted over 4 million users from across the globe.
At its core, Pocket Option enables predicting if asset prices like currencies, commodities, cryptocurrencies, and stocks will rise or fall in the short term. Traders bet on bullish or bearish outcomes over set timeframes ranging from just 30 seconds to multiple months.
For beginners, Pocket Option offers a demo account with virtual funds to practice trading risk-free. Minimum real money bets start at just $1, providing accessible entry points to speculative trading.
The platform touts licenses from the FMRRC in Russia and MISA regulator in the Middle East. However, its parent companies Gembell and Infinite Trade maintain registration in jurisdictions like Saint Vincent and the Grenadines which offer minimal oversight.
In terms of assets, Pocket Option provides exposure to over 100 markets across forex, commodities, equities, indices, and cryptocurrencies. This diversity caters to traders seeking to speculate across both traditional and digital asset classes.
While marketed as an innovative way for novice traders to access financial markets, Pocket Option’s derivative offerings essentially facilitate short-term bets and not long-term investing. Responsible practices around risk management are crucial when speculating on such volatile instruments.
How Does Pocket Option Work?
PocketOption Key Features Review
Pocket Option aims to provide an extensive suite of trading features and educational resources. Here is the Pocket Option key features review:
- Numerous order types, including turbo, digital, binary, and forex, through MT5 integration. This diversity allows for adapting strategies to market conditions.
- Comprehensive educational materials like videos, webinars, and guides to build trading knowledge. A free demo account also enables risk-free practice.
- Exposure to over 100 markets across currencies, cryptos, stocks, commodities, and more. This vast asset selection provides ample trading opportunities.
- Customizable charts with advanced indicators and analysis tools to identify trades and trends. Social trading and forex copy trading features also enable copying expert investors.
- Minimum deposits start from just $10 to lower barriers to entry. Multiple payment options simplify funding trading accounts as well.
- Lucrative payouts up to 218% on winning trades. Bonuses, cashback, and contests provide additional profit potential for traders.
While the platform touts an array of features for enhanced trading, responsible practices around analysis, risk management, and capital protection remain essential. Traders should thoroughly research any platform before depositing funds.
Pros and Cons of Trading on Pocket Option
Advantages like high maximum payouts, low $50 minimum deposits/trades, platform translated into 20+ languages, 50+ payment options, and abundant bonuses make Pocket Option enticing.
However, lack of regulation by major financial authorities, limited cryptocurrency assets, and slow 1-14 day withdrawal times raise substantial concerns for some traders.
Different Types of Trades Offered by Pocket Option
There are four types of trades offered by Pocket Option:
- High/Low: This is the most common and simple type of binary option. You just have to decide whether the price of an asset will be higher or lower than the current price at the expiry time. For example, if you think that EUR/USD will be above 1.18 at 15:00, you can buy a High option; if you think it will be below 1.18, you can buy a Low option.
- Turbo: This is similar to High/Low but with shorter expiry times ranging from 30 seconds to 5 minutes. This type of trade is suitable for traders who want to take advantage of fast market movements and volatility.
- Range: This type of trade allows you to predict whether the price of an asset will stay within a certain range or break out of it at the expiry time. For example, if you think that GBP/JPY will remain between 150 and 152 at 16:00, you can buy an In option; if you think it will go outside this range, you can buy an Out option.
- One Touch: This type of trade allows you to predict whether the price of an asset will touch a certain level or not at any time before the expiry time. For example, if you think that gold will touch $1,800 at any time before 17:00, you can buy a Touch option; if you think it will not touch this level, you can buy a No Touch option.
Account Type and Pricing
Pocket Option offers a selection of account tiers tailored to traders of varying backgrounds and experience levels. The table below outlines the key features, requirements, and benefits associated with each account type, including minimum balance, maximum trade sizes, profitability boosts compared to the baseline Novice tier, and any special perks.
Review the table details to get a quick yet comprehensive overview of the Pocket Option accounts, so you can determine which option may be best aligned with your current trading skills and goals.
|Account Type||Minimum Balance||Maximum Transaction Amount||Profitability vs. Novice||Key Benefits|
|Novice||Under $100||$1,000||N/A||Starting point for new traders|
|Experienced||$1,000||N/A||+2%||Opportunity for growth|
|Master||$5,000||$2,000||+4%||Advanced features and returns|
|Expert||$50,000||$5,000||+8%||Priority withdrawal, discounts|
|Beginner||$100||N/A||N/A||Accessible entry point|
|MT5 Forex||Experienced, Master, Professional, Expert tiers||N/A||N/A||Advanced MT5 platform, forex tools|
Pocket Option Withdrawal Methods
Pocket Option offers several withdrawal methods, including bank cards, e-wallets, and cryptocurrencies. The minimum withdrawal amount on Pocket Option is $10, and the maximum withdrawal amount varies depending on the chosen payment method and account type. Withdrawal fees may be charged depending on the chosen method. Withdrawals are processed within 24 hours, but some methods may take longer.
The processing time for withdrawals on Pocket Option depends on the withdrawal method chosen. Typically, withdrawals are processed within 24 hours, but some methods may take longer. Withdrawal processing times range from 1 to 14 business days, contingent on the chosen payment system. Below, you’ll find the typical durations for various methods:
– E-wallets: 3 to 12 hours
– Bank Card: 24 to 36 hours
– Cryptocurrency (BTC): 1 to 3 business days
– Bank Transfer: 2 to 4 business days
Crafting Effective Pocket Option Tactics and Strategies
Developing and practicing trading strategies aligned with your goals is key to long-term success on Pocket Option. Let’s explore some popular approaches.
Fast-Paced Strategies for Pocket Option 1 Minute Strategies
The 1 minute timeframe on Pocket Option enables rapid trading but requires skill. Here are strategies traders implement:
Trend Trading Strategies
Indicators like the Keltner Channel identify the overall market direction. You buy calls in uptrends when the price exceeds channel midline and puts in downtrends when below it.
Oversold/overbought indicators like RSI pinpoint potential reversals forming. Buy calls on oversold bounces and puts on overbought rejections.
This fast-paced approach uses indicators like Bollinger Bands to spot entry and exit levels based on price action. Buy calls on resistance breaks and puts on support breaks.
News-Based Trading Strategies
Major announcements impact asset prices. Buy calls if news is positive or puts if negative for the asset. Use economic calendars to plan ahead.
Extensive practice on a Pocket Option demo account is highly recommended before going live with 1 minute expiry strategies. Discipline is critical.
Managing Risks With Live Trading Sessions
Pocket Option enables live trading across assets using order types like turbo, digital, and binary options. However, substantial risks exist:
- Only use capital you can afford to lose
- Have a clear trading plan and stick to it
- Patience and discipline are vital
Start small to evaluate your strategies with real market conditions. Don’t overtrade or let emotions impact decisions.
Using Keltner Channels to Identify Trends and Reversals
The Keltner Channel indicator helps traders spot trends and potential turnarounds by representing price levels and volatility. It contains three lines representing price levels and volatility:
- The above upper band signals upward momentum
- Below lower band below indicates bearish pressure
- The middle line provides dynamic support/resistance
For best results, confirm Keltner signals with other analysis like price action. Manage risk appropriately when using any indicator.
Pocket Option Regulatory Status Review
Pocket Option lacks regulation by any major financial authorities like the SEC in the US or FCA in the UK. This leaves traders vulnerable compared to oversight from reputable regulators.
The company claims regulation by the obscure Mwali International Services Authority. However, this tiny agency based on the island nation of Malawi provides no meaningful accountability. It is not comparable to stringent rules and enforcement bodies like the SEC and FCA.
With anonymous ownership and a history of frequently changing business names, Pocket Option’s claims of regulation ring hollow. Its registration in the Republic of Costa Rica also places operations in a jurisdiction with minimal oversight.
The lack of proper regulation raises substantial concerns about the security of trader funds. There is no protection if Pocket Option goes bankrupt. And opaque account freezes with denial of withdrawal requests are common complaints among users.
In summary, Pocket Option does not instill trust through regulatory status. Traders are wise to research regulations extensively before opening accounts with brokers. Reputable authorities like the SEC and FCA provide recourse and accountability if issues arise. But Pocket Option’s claimed regulation does little to ensure responsible business practices and security.
How Does Pocket Option Make Money?
Pocket Option profits from an imbalance between payouts for winning and losing traders. For example, say a trader bets $50 that an asset price will rise. Pocket Option may then only pay out $40 if the trader wins. This allows Pocket Option to keep the remaining $10 difference.
By ensuring winning traders receive less than their original stake, Pocket Option creates a mathematical edge to generate revenue. Even if only 50% of traders win, the broker profits by paying less than 100% on winning wagers.
This model incentivizes Pocket Option to maintain a balanced trading volume between bullish and bearish positions. If too many traders bet in one direction, significant payouts could outweigh losses and erode profits.
Critics argue this model essentially facilitates gambling on financial markets rather than thoughtful investing. The binary nature of outcomes provides excitement and balances the odds for the broker over time. However, sustainable gains for traders are unlikely in the long run.
Compared to regulated brokers earning transparent commissions on trades, Pocket Option’s behind-the-scenes skimming of payouts adds further questions about its legitimacy. Savvy traders are wise to research business models and fees thoroughly before depositing funds.
Pocket Option Review – The Good and Bad According to Traders
While Pocket Option aims to provide an accessible and user-friendly interface for trading binary options, user’s pocket option review highlights mixed experiences with the platform.
On Trustpilot, some traders praise the smooth onboarding process and responsive customer support. They find the platform intuitive to navigate and appreciate the array of educational resources. However, others cite difficulties withdrawing funds from their accounts in a timely manner.
Reddit threads discussing Pocket Option offer a wider range of perspectives. Positive feedback centers around the convenience of the mobile app, wide asset selection, and the benefit of social trading to copy expert traders. But multiple users also complain of sudden account freezes for undisclosed reasons and inconsistent price feeds between the app and web platform.
There are also conflicting views around Pocket Option’s legitimacy and regulation claims. Though Pocket Option states registration with IFMRRC, some users question the credibility of this oversight body. Others argue the platform is trustworthy based on seamless experiences trading and withdrawing funds.
In summary, the Trustpilot Pocket Option review indicates that while some traders appreciate the platform’s interface and features, concerns have been raised regarding account transparency, withdrawal processes, and platform consistency. Performing thorough due diligence is highly advised before depositing funds and actively trading on Pocket Option. Monitoring trusted third-party review sites can provide greater insight into the potential risks and benefits of the platform.
Is Pocket Option Legit or a Scam?
With no oversight from reputable financial regulators like the SEC or FCA, major red flags exist around whether Pocket Option is a legitimate broker or potential scam. The company behind Pocket Option is registered offshore in the Republic of Costa Rica, an environment with little accountability. Additionally, the true ownership changes names frequently, having previously operated under entities like Gembell Limited based in the Marshall Islands.
Frequent name-changing and opaque ownership are common warning signs of untrustworthy brokers. There is no LinkedIn presence or public information on Pocket Option’s team either. The company makes claims of regulation by the obscure Mwali International Services Authority, but this tiny agency does not provide real oversight. With anonymous leadership and registration in lax jurisdictions, traders have significant risks around the security of their funds and transparency of business practices.
Even positive customer Pocket Option reviews raise suspicion, with vague feedback that looks artificially generated. Multiple negative reviews cite issues like sudden withdrawal denials and inconsistent pricing. The platform also uses aggressive sales tactics like pop-ups pressuring visitors to open accounts immediately. This diverges from regulated brokers focused on informational resources over quick deposits.
In summary, the lack of SEC, FCA, or other major regulations, opaque ownership, misleading reviews, and aggressive sales tactics are bright red flags regarding Pocket Option’s legitimacy. Traders are wise to research extensively and likely avoid this platform, given the overwhelming concerns. Regulated brokers with transparency and accountability are vastly safer alternatives.
Approaching Speculative Trading Responsibly
When considering getting started with speculative trading platforms, proceed with caution and implement responsible practices:
- Thoroughly research any broker and ensure oversight by reputable regulators like the SEC or FCA before opening an account. Check warning lists.
- Use demo accounts to build experience without risking funds. But recognize demo conditions differ from real trading.
- Start very small if trading actual capital – no more than 1-2% of your account per trade. Losses are inevitable as you learn.
- Leverage technical indicators as guides, but avoid over-reliance. Combine with fundamental analysis to make informed bets.
- Take frequent breaks, as overtrading leads to frustration and impulsive decisions. Stick to a set number of trades per day.
- Carefully implement stop losses on every real money trade to control the downside. Accept that occasional losses are part of trading.
- Be wary of promotional offers requiring high trade volume. Make sure you understand all terms and withdrawal conditions.
- Develop the backtesting strategies aligned to your risk tolerance before going live. Strategies enforce discipline during volatile markets.
- Implement a robust money management plan, including risk per trade, exit rules, and bet sizing. This safeguards your capital.
While trading can provide excitement and opportunity, it also involves significant risk. Protect yourself by vetting brokers thoroughly, using virtual accounts, and managing risk through careful practices.
Finestel: A Legitimate Alternative
For experienced traders and portfolio managers, Finestel’s white label solution presents an unparalleled opportunity to launch and scale their own branded copy trading businesses. Rather than building infrastructure from scratch, Finestel’s turnkey platform handles all the technical, operational, and administrative heavy-lifting.
Traders gain full control over customizing their brand’s look and feel. Choose your own colors, logo, and domain integration – Finestel provides the flexibility to make the platform your own truly.
Through an intuitive admin panel, you can effortlessly manage all aspects of your growing operation. Tools for user onboarding, communication, private copy trading, tracking performance metrics, and optimizing strategies ensure your expertise remains the core focus.
Finestel also equips traders with powerful monetization capabilities. Set customized subscription fees, performance percentages, and more through flexible billing options. Automated accounting takes the hassle out of accurately charging clients.
With Finestel, there are no limits to how you deliver your strategies and cultivate communities of followers. Their proven technology and support services allow you to hit the ground running while concentrating on your core strengths – making profitable trades.
Copy Trading as a Service
Advanced Charting and Analytics
While Pocket Option offers an innovative way for novice traders to access financial markets, it’s important to approach speculative trading responsibly. The platform provides exposure to over 100 markets across forex, commodities, equities, indices, and cryptocurrencies, catering to traders seeking to speculate across both traditional and digital asset classes. However, it’s crucial to practice responsible risk management when speculating on volatile instruments.
Pocket Option’s intuitive trading platform facilitates 24/7 global access via all modern web browsers without the need for downloads. Traders can open positions on changing prices of over 100 offered assets with contract durations ranging from 30 seconds to a week. The platform also offers educational resources and customer support to traders of all experience levels.
In conclusion, in our Pocket Option Review, we recommend exercising caution and conducting thorough research before engaging in speculative trading on the accessible platform. Traders should be aware of the platform’s limitations, such as the lack of regulation by major financial authorities and potential withdrawal delays. Exploring alternative platforms like Finestel, which prioritizes safety, legitimacy, and exceptional features, maybe a wise choice for traders looking for a secure trading environment.