Pocket Option is owned and operated by Gembell Limited, a company registered at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960 with the registration number 86967. Gembell Limited is regulated by the International Financial Market Relations Regulation Center (IFMRRC) with license number TSRF RU 0395 AA Vv0116. It must be noted that the IFMRRC is not a governmental authority and instead it’s an independent organization.
Is Pocket Option A Scam?
The brokerage is quite new but so far nothing points towards them being a scam. They are not regulated by a well known financial watchdog like the CySEC or FCA, but I will take their regulation (IFMRRC) any day instead of no regulation at all. I see they are transparent, which is always a good thing but on the other hand, they don’t offer information about the exact launch date (which is probably sometime in 2017) and their website contains some mixed information about the minimum sums for withdrawal and deposit. However, that alone doesn’t make them a scam.
Why Doesn’t Pocked Option Suck In 50 Words
According to their Terms and Conditions, the client is not entitled to ask the Company for trading advice and the Company is under an obligation not to provide any advice to the client. I think it’s the first time I see something like that in the T&Cs of a binary options broker, but I like it very much because this means that you will trade, not the brokerage. This is how it should be with all brokers.
Why Does Pocket Option Suck In 50 Words
I don’t like brokers that confuse me by giving different information on different sections of their website. In the Terms and Conditions, Pocket Option tells me that the minimum deposit is 5 units of chosen account currency (5 EUR, 5 USD) and the minimum withdrawal is 1 unit (1 USD, 1 EUR). In their FAQ section, they say the minimum withdrawal and deposit is 10 USD. And one more: all their deposit methods show a minimum of 50 USD. Make up your mind, Pocket Option.
Should I Open An Account With Pocket Option?
This brokerage has a few very interesting advantages of which I can mention huge payouts of 96% and a huge number of cryptocurrencies: 40. It’s true that Bitcoin and Altcoins are making their way onto the platforms of most Binary Options and CFD brokers these days, but I’ve never seen so many on one platform. What’s even better is that payouts for cryptos are 80%, which is way above the average in the industry (some brokers offer payouts ranging from 20% to 50%).
The trading platform is provided by ITTrendex and I must admit it’s the first time I’ve seen it but if it offers so many cryptos, with such high payouts, I hope I see more of it. Of course, that depends on the brokerage as well (they decide the range of assets and payouts), but at least we know that the platform is capable of supporting a large number of assets. Something was very frustrating though: once I’ve accessed the platform I couldn’t return to the main site. I tried writing the home address in the address bar again but it kept redirecting me to the deposit section of the platform. I’m not sure if this is a bug or if it’s how they intended it to work. Either way, it should be fixed.
The education material is composed of several strategies, a platform guide, and video tutorials. It’s not the most extensive material I’ve seen but at least the strategies are actual strategies, with rules, pictures and clear steps you need to take before entering the market, which is more than I can say about other brokers.
So, in conclusion, Pocket Option looks like a brokerage with very high payouts, low deposit and withdrawal requirements but they are not regulated by a governmental authority and this keeps me from recommending them wholeheartedly. Also, I must mention that I’ve used a Demo account for this review and I cannot guarantee that the payouts will remain this high on a real account.
Pocket Option Complaints
At the moment there are no complaints regarding Pocket Option or the owning company, Gembell Limited. This is possibly due to the young age of the brokerage, so we will make sure to update this review if complaints start to appear.
Pocket Option Bonus
The bonus is 100% for a minimum of 50 USD deposit. However, I haven’t found anything about turnover requirements in their FAQ section or in their Terms and Conditions. I contacted Live Chat and although a representative joined almost instantly, he/she did not speak to me at all.
Pocket Option Withdrawal
According to their Terms and Conditions, the minimum withdrawal is 1 account unit. According to the FAQ, the minimum is 10 USD. Either way, it’s a low amount. The number of withdrawal methods is huge: about 50!
Pocket Option Extra
The payouts are huge (96%) and this brokerage offers about 40 crypto currencies with a very high return of 80%. If these numbers hold up in real market conditions, Pocket Option will surely see an influx of new clients.
Pocket Option Ratings
User Friendliness 16/20
The website is translated into 15 languages but it is not the friendliest I’ve seen and once you get to the trading platform, you cannot return to the main site for an unknown reason. Demo accounts are available, as well as mobile versions for Android and iOS.
Number Of Assets And Expiry Times 15/20
Pocket Option offers 22 currency pairs, 6 commodities, 17 stocks and 40 cryptocurrencies, among which the popular Bitcoin but also Litecoin, Ethereum, Dash and many more. However, the expiry times are very limited, with the longest I’ve seen is 3 and a half minutes.
Commissions, Support And Effective Return 15/20
There are no commissions to open an account or to trade. Support was very fast to join the chat but they didn’t want to talk to me at all, which was weird. The effective return is 96% for all assets apart from cryptos, which have 80% return. These are not “up to” numbers, but fixed, so you know that you always get 96% and 80% respectively. I am not sure if these numbers are available on a real account and on a regular basis, but if they are, it’s almost amazing.
Deposit, Payment And Bonus 16/20
Deposits and withdrawals can be made using 50 or more methods, including of course credit cards, wire transfer and tons of e-wallets. The minimum sums vary depending on what part of the website you’re reading but they are pretty low either way. The bonus is 100% for a minimum 50 USD deposit but the conditions are not explained anywhere and that’s why I recommend you don’t accept a bonus (or at least ask for written Terms and Conditions).
Website Extras 15/20
They have the widest list of cryptocurrencies and highest payouts I’ve seen so far. These are some positive extras but again, the numbers seem too big compared to the rest of brokers, so I am not sure what’s going on.
Pocket Option Ratings: 77/100