Pocket Option is an online broker with a relatively short time in business, that offers instant access to trade options on more than 150 assets, including currencies, cryptocurrencies and company shares. It is owned and operated by Gembell Limited, a company registered at Trust Company Complex, the Republic of the Marshall Islands with registration number 86967. Gembell Limited is regulated by the International Financial Market Relations Regulation Center (IFMRRC) with license number TSRF RU 0395 AA Vv0124. It must be noted that the IFMRRC is not an official financial authority like the CySEC in Cyprus or the FCA in the United Kingdom and instead it’s an independent organization.
Editor’s Note: Why Does Pocket Option Suck In 50 Words
According to them, they offer the Best Online Trading Platform and the most convenient online trading interface. Yea, we’ve heard it all before and although the platform does offer high payouts, I don’t think it’s really the best or the most convenient. On top of all that, their regulatory body is not the “fiercest” and for sure not as strong as CySEC, FCA or ASIC.
Why Pocket Option Doesn’t Suck In 50 Words
According to their Terms and Conditions (section 6.1), 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.
Is Pocket Option A Scam?
The broker is relatively new but so far there are no obvious red flags or scam suspicions. They are not regulated by a well known financial watchdog, 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.
Should I Open An Account With Pocket Option?
This broker has a few very interesting advantages among which I can mention huge payouts of 96% and a huge number of cryptocurrencies: more than 30. 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 up to 89%, 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.
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 is 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
There are quite a few complaints online about this broker, including claims of price manipulation, failed withdrawals and accusations of scam; you can even find unhappy PocketOption clients even in our Comments section below this review. However, we cannot vouch for the truthfulness any of them so bottom line is: use caution.
Pocket Option Bonus
Using the promo code “easystart100” you will get a 100% bonus for a minimum deposit of $50 – in this case the required turnover is 50 times the deposited amount (invested amount can be withdrawn but the bonus will be cancelled). In case you don’t use the code given above, the bonus varies from 20% to max 50%; however, you will need a huge deposit of $10,000 to benefit from the 50% bonus. Client’s funds can be withdrawn before the turnover is reached but said turnover is not specified for this type of bonus.
Pocket Option Withdrawal
The minimum withdrawal is very low, at 10 USD and can be made via a huge choice of methods – more than 20, including cards, wires, e-wallets and crypto. The processing time is 3 business days.
Pocket Option Extra
The payouts are huge (96%) and this broker offers more than 30 crypto currencies with a very high return of 80% (or even 89% in some cases). 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 because sometimes information is hard to find, albeit if you know where to look, you’ll find it eventually. Demo accounts are available, as well as mobile versions for Android and iOS. US clients are accepted!
Number Of Assets And Expiry Times 15/20
Pocket Option offers 29 currency pairs, 4 commodities, 25 stocks and more than 30 cryptocurrencies, among which the popular Bitcoin but also Litecoin, Ethereum, Dash and many more. However, the expiry times are very limited, with the only one being 30 seconds. However, you can set the time until purchase up to 30 minutes in the future. So you choose when to buy the option (max 30 min in the future) and once it’s activated, it will expire in 30 seconds. Pretty weird!
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 and my questions were answered in a timely manner. The effective return is up to 96% for all assets apart from cryptos, which have up to 80% return (even up to 89% in some limited cases). 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 (minimum $50) and withdrawals (minimum $10) can be made using 20 or more methods, including of course credit cards, wire transfer and tons of e-wallets. Pocket Option doesn’t charge a fee but your bank/payment processor probably will. The bonus is 100% for a minimum 50 USD deposit using promo code “easystart100″. In this case, the turnover is 50 times. Without using the code, the bonus ranges from 20% to 50%. The bonus can be cancelled.
Website Extras 15/20
They have the widest list of cryptocurrencies and highest payouts I’ve seen so far. Other extras include cash back, risk-free trades, bonuses to balance and bonuses on deposit, tournaments, social trading and copy trading. 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