Pocket Option Review 2024
Highlights of Pocket Option
Pocket Option is a binary options and CFD broker that can suit a wide range of traders, from beginners to seasoned professionals.
Beginners will benefit from extensive training materials and analytics, while experienced traders will find the variety of trading platforms and assets useful.
However, you should be cautious due to weak regulation and high spreads on CFDs. If you are willing to accept some risks and limitations, Pocket Option may be a good choice.
Pros and Cons of Pocket Option
Pros
- Variety of accounts and services.
- Wide selection of deposit and withdrawal methods.
- Variety of asset classes for trading.
- The availability of various trading platforms.
- Quality analytical materials and educational resources.
Cons
- Weak regulation.
- High spreads for CFD trading.
- Long withdrawal term.
- Average number of CFDs.
- No iOS and desktop applications.
Pocket Option reviews
4.4 out of 5
4.4 из 5
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Pocket Option Broker Overview
| Foundation Year | 2017 |
|---|---|
| Official Website | https://pocketoption.com |
| Regulated in Countries | Costa RicaMore Details |
| Minimum Deposit |
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| Spread | from 10 points |
| Max Leverage | 1:200 |
| Trading Assets |
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| Trading Platforms |
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| Email Support |
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| Hotline Phones | |
| Social Media |
Twitter
YouTubePocket Option is a trading platform founded in 2017 by a team of specialists in IT and FinTech. Since its inception, the company has set itself an ambitious mission: to provide an innovative trading experience that is accessible to everyone.
The company is actively developing, improving, and perfecting the trading process. From a modest start in 2017 with a limited customer base, Pocket Option has grown to reach a million-strong audience, spanning over 95 countries and regions. The quality of customer service remains the company's focal point, and many of its innovations are inspired by the feedback and wishes of traders.
Pocket Option is in the top 10 of the following ratings:
Pocket Option Review Summary
- Transparent information about regulation.
- Lack of regulation in countries with stricter requirements.
We employed a comprehensive approach to evaluate Pocket Option based on our unique methodology for assessing brokers. This approach considers various aspects, such as regulation, trading platforms, analytics, educational materials, and the quality of technical support. Read the review to learn more about how Pocket Option meets these criteria.
Reliability and Regulation
| Legal Entity | Regulator |
|---|---|
Infinite Trade LLC Infinite Trade LLC | MISA MISA |
The company Infinite Trade LLC, which holds the rights to the Pocket Option website, is registered in Costa Rica. The broker is regulated by the Mwali International Services Authority (MISA). This may raise specific questions regarding reliability and regulation, as Costa Rica and Mwali are not widely recognized jurisdictions in financial regulation.
Also, check if Pocket Option is legal in your country:
Singapore
Bangladesh
Nigeria
South Africa
United Arab Emirates
Pakistan
Australia
United Kingdom
United States
India
CanadaAccount Opening
The account opening process on the Pocket Option platform appears to be very simple, convenient, and fast. With a minimum deposit of $5 and the ability to quickly start trading even on a demo account, the platform makes trading accessible to many investors. Email and identity verification are also described as straightforward and understandable steps.
Registration
The registration process on Pocket Option is easy and fast. On the homepage is a registration form where you only need to enter your email address and create a password. This takes no more than a couple of minutes, after which you can immediately start trading.
If you want to start trading immediately, there is the "Start in one click" option. This feature redirects you directly to the trading platform, where you can test your skills on a demo account without any prior setup.
This user-friendly and intuitive registration process makes Pocket Option an excellent choice for traders of all experience levels, from beginners to professionals.
Verification
Verification on Pocket Option is mandatory and necessary to ensure the security of your trading experience. Follow these steps carefully to avoid possible delays or problems.
Email Verification
After successful registration on the Pocket Option platform, the first step is to verify your email address. You will receive a confirmation letter that you need to click on. If the letter does not arrive, check the "Spam" folder or use the "Resend" function in the "Personal Information" section of your profile.
Identity and Address Verification
Next, go to your profile's "Identity Status" and "Address Status" sections. Here, you must upload color scans or photos of documents confirming your identity and residential address. A passport, international passport, or driver's license is acceptable for identity. Utility bills, bank statements, or other official documents issued no earlier than three months ago are required for the address.
Bank Card Verification
If you plan to withdraw funds to a bank card, this step will become available after submitting the relevant application. Upload color scans or photos of both sides of the card, following the instructions on the platform to ensure your security.
Trading Profile
Your trading profile on the Pocket Option platform is your dashboard for managing all trading activity. Here, you will find all the necessary statistics: trade history, trade order IDs, and the dates and prices of opening and closing positions. This information will help you better understand your trading habits, like a real trader's diary, and allow you to analyze the effectiveness of different strategies. To access this information, click on your avatar in the top right corner of the interface or go to the "Trading Profile" section.
Moreover, Pocket Option offers various levels of trading profiles, which depend on the current balance of your account. Upgrading your profile level opens up new opportunities, from high priority in processing withdrawal requests to access to a personal manager and premium gifts. You can find out the current level and compare available levels in the "Finances" -> "Deposit" -> "Compare" section.
Minimum Deposit
One of the most attractive aspects of the Pocket Option trading platform is its low entry threshold. With a minimum deposit of just $5, the platform makes trading on financial markets accessible to traders with different capital levels. This feature is handy for beginners who may not be ready to invest large amounts immediately and experienced traders who wish to test new strategies without significant financial risks.
Account Types
The Pocket Option platform offers a variety of account types and services that can meet the needs of traders with different levels of experience and preferences. However, it's important to note that Pocket Option does not limit you to choosing between binary options and CFDs (Contract for Difference). Both trading instruments are available on the same platform. Depending on your goals and market conditions, you can choose between different assets and strategies. Such an approach makes Pocket Option a versatile platform for diverse traders, where everyone can find a suitable account type and tools to achieve their financial goals.
Binary Options
Pocket Option provides a broad range of possibilities for trading binary options.
| — | |
|---|---|
| Trading Assets |
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| Expiration times | 15 seconds - 4 hours |
| Profitability | 25-92% |
| Minimum Trade | $1 |
The expiration time of trades can vary from short 15 seconds to lengthy 4 hours. This allows traders to choose strategies that best fit their trading preferences and risk profile.
The profitability of binary options can range from 25% to 92%, depending on the chosen trading asset and expiration time. This provides traders the opportunity for high profitability, mainly when correctly predicting price movements.
There is also the possibility of increasing profitability and the maximum investment to 100% and $20,000, respectively, when you level up your profile. We will discuss this in more detail later in the review.
CFD Trading
| CFD | |
|---|---|
| Account Currency | USD |
| Minimum Deposit | 5 $ |
| Trading Platforms | MetaTrader 4MetaTrader 5Quadcode |
| Spread | fixedfrom 10 pips |
| Commission per Trade | |
| Trading Assets | ForexStocksIndicesCryptocurrencyPrecious MetalsEnergy CarriersSoft Commodities |
| Opened Positions | — |
| Leverage | 1:1-1:200 |
| Margin Call / Stop Out | 80% / 100% |
| Order Execution | MM |
| Demo Account | |
| Islamic Account | |
| Open AccountRegister |
The broker allows trading Contracts for Difference (CFDs) on MT4 and MT5 platforms. These platforms are among the most popular worldwide for trading Forex, commodities, stocks, indices, and cryptocurrencies. Leverage can reach significant levels—up to 1:500- providing traders with great opportunities to increase profits.
However, it should be noted that the conditions for trading CFDs on Pocket Option may not be as favorable compared to other Forex brokers. The main downside is that the platform only offers a wide fixed spread. For example, for the EUR/USD pair, the spread is 10 pips. This may not be advantageous for traders accustomed to tighter and floating spreads, especially those engaged in scalping or high-frequency trading.
Trading Profiles
The broker offers a unique profile-level system that reflects your loyalty to the platform. Depending on your profile level, you can access various premium services and trading advantages that significantly enhance your trading experience.
| Level | Min. Balance | Unlimited Open Trades | Max Trade Amount | Tournament Participation | Chat Access | Market Access | Gifts | Social Trading | Gems Lottery | Express Orders | Trading Achievements | Forex Trading on MT5 | Market Discount | Extended Market Range | Increased Payout | Priority Withdrawal Processing | Spread Compensation | Personal Manager | Advanced Indicators Access |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Wanderer | No deposit | ✓ | $1000 | Free tournaments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Novice | $100 | ✓ | $1000 | All types | ✓ | ✓ | ✓ | ✓ | - | - | - | - | - | - | - | - | - | - | - |
| Beginner | $100 | ✓ | $1000 | All types | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | - | - | - | - | - | - | - | - |
| Experienced | $1000 | ✓ | $1000 | All types | ✓ | ✓ | Premium gifts | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | +2% | - | - | - | - |
| Master | $5000 | ✓ | $2000 | All types | ✓ | ✓ | Premium gifts | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | +4% | - | Up to $10 | - | - |
| Professional | $15000 | ✓ | $3000 | All types | ✓ | ✓ | Premium gifts | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | +6% | High priority | Up to $50 | ✓ | - |
| Guru | $50000 | ✓ | $20000 | All types | ✓ | ✓ | Premium gifts | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | +8% | High priority | Up to $100 | ✓ | ✓ |
Demo Account
Pocket Option offers the opportunity to utilize a demo account, a replica of a real trading account. This is an excellent tool for beginners who wish to take their first steps in trading and for experienced traders who want to test new strategies without the risk of losing funds.
One of the advantages of the demo account at Pocket Option is its accessibility: it is available both before and at any moment after registration on the platform. This makes it an ideal tool for educational purposes.
The only difference between the demo account and a real one is the inability to withdraw funds, as the account is intended solely for learning and practice. Additionally, the social trading feature, which allows you to copy the trades of other traders, is not available on the demo account.
Social Trading
Social trading on Pocket Option offers a unique opportunity to follow the actions of other traders, study their strategies, and even copy their trades. This feature can benefit both novices beginning their trading journey and experienced traders looking to expand their trading horizons.
How to Start Copying Trades
The "Top-ranked trades" section shows a ranking of the most successful trades, updated every minute. This allows you to quickly assess which strategies are currently the most profitable.
To find a specific trader, enter their ID in the search field. The search results will only display traders who have made at least one trade in the last 24 hours.
After selecting a trader to copy, you can set the copying parameters in the "Social Trading" section.
Copying Parameters
- Copying Ratio: This parameter allows you to set the copied trade amount percentage ratio to the original trade.
- Stop Balance: Set a balance amount at which trade copying will automatically stop.
- Minimum and Maximum Copy Amount: These parameters allow you to set the minimum and maximum amounts for copied trades.
Rewards and Bonuses
When other traders start copying your trades, you begin to receive shards, which can later be assembled into gems. These gems can be used to purchase various bonuses and trading advantages in the market.
Social trading on Pocket Option provides comprehensive tools to enhance your trading experience. It allows beginners to get up to speed on the platform quickly and offers experienced traders the opportunity to test and adapt various trading strategies. The rewards system makes the process even more exciting, adding a gamification element to the severe world of financial trading.
Tournaments
Tournaments on Pocket Option are a unique opportunity for traders to compete against each other in trading the same asset with an equal starting balance. It's a great way to test your skills and strategies in a real competitive environment without risking real account funds.
How to Participate in a Tournament
To learn more about current or upcoming contests, go to the "Tournaments" section and select the tournament you're interested in. A window will open with all the conditions, descriptions, and a tab for registration. Participation in tournaments is available only after account verification.
If your tournament balance falls below 100 units, you can use the rebuy function to restore it to the initial level. This feature is available right from the trading interface.
Please note: Tournaments on pocketoption.com are available only for verified users.
Determining the Winners
Tournament winners are typically determined by the highest profit and receive cash prizes. To claim your prize, go to the tournament history and click on the "Claim Prize" button. Note that you must have made at least one deposit into your account to withdraw your prize.
In the "Statistics" section, you can track your achievements, participation, and ranking position. It's important to note that your place in the ranking is determined by the amount of profit, not the current balance.
Achievement System
The achievement system on Pocket Option is a motivational tool that encourages trader activity on the platform. Achievements can be earned by performing various actions, such as opening trades, participating in tournaments, or being socially active.
How It Works
The achievements menu is located on the left panel of the trading interface. Each achievement grants a certain number of experience points and gems. Experience points help to raise the level of your profile, which in turn provides access to advanced features in the "Market." Gems can be exchanged for various trading advantages.
In the "History" section, you can view all your achievements chronologically. On the "Rating" page, the top traders by number of achievements are displayed. This allows you to compare your progress with other participants and gauge your chances of success.
If you want to participate in the platform's life actively, you can become part of the community of moderators and helpers. This status offers the opportunity to assist other traders in chats, maintain a friendly atmosphere, and respond to user inquiries.
Market and Bonuses on Pocket Option
The "Market" section on the Pocket Option platform allows traders to purchase a variety of bonuses and trading advantages. These tools can significantly improve trading results and increase potential profit. Additionally, users can view the history of their purchases and the current balance of gems, which can be used to obtain additional benefits. A notable feature is the ability to sell already activated trading advantages, adding flexibility in resource management on the platform.
Promo Codes
Pocket Option promo codes allow you to activate deposit bonuses, which increase your deposit amount. For instance, a promo code with a 100% bonus will add 100% to your deposit of $100, and a promo code with a 50% bonus will increase your deposit of $50 by half. To purchase a promo code, go to the "Market" section, select the desired bonus, and confirm the purchase.
Before activating a promo code, it's recommended to familiarize yourself with its terms in the "Participation Terms" section, available when selecting the promo code. After purchasing and activating a promo code, the bonus is automatically credited to your next account deposit. The progress of the bonus can be tracked in the "Finances" - "Promo Codes" section, where all active and inactive promo codes are also listed. This feature makes managing your finances on the platform more transparent and convenient.
Bonus to Balance
The balance bonus allows traders to increase their trading capital without wagering. This bonus can be purchased with gems accumulated through trading and completing various tasks on the platform. A vital advantage of this bonus is that it doesn't need to be wagered. Funds received as a bonus are credited to your trading account and can be used for trading or withdrawal immediately after activation.
This is a convenient and quick way to increase your trading balance, making trading on Pocket Option even more attractive.
Risk-Free
The "Risk-Free" bonus is an excellent tool for minimizing risks. This bonus allows traders to cancel a losing trade and return the invested funds to their balance. To purchase a risk-free trade, go to the "Market" section, select the bonus for the desired amount, and confirm the purchase.
If the trade is lost, you can easily cancel it by going to the "Trading History" section and clicking the "Cancel" button next to the unsuccessful order. It's important to note that the bonus applies to only one trade. This feature adds extra protection to your capital and makes trading on Pocket Option even more convenient and safe.
Cashback
The "Cashback" bonus minimizes losses by returning up to 10% of losses to the trading account. This bonus is activated if the total loss amount for the previous month or since the cashback activation exceeds the profit. Cashback is automatically credited to your balance on the first day of each month.
The validity period of the cashback is one year from its activation. If you want to extend this period, purchase cashback with the same payout percentage. There is also an option to increase the cashback rate to 10% by purchasing the corresponding cashback in the "Market" section.
Boosters
Boosters are a handy tool for active traders who want to accelerate their progress and gain additional advantages. These bonuses temporarily increase the experience points you receive for placing trading orders. The duration of a booster is limited, so it's best to activate it during periods of high trading activity.
The higher your account level, the more trading advantages become available in the Market.
Prolongators
Prolongators are another unique trading advantage offered by Pocket Option, designed to optimize your trading experience. These tools work in synergy with boosters, extending their duration and increasing your opportunity to earn more experience points while trading.
Using prolongators in conjunction with boosters allows you to maximize the efficiency of your time on the platform, accelerating the experience accumulation process and, consequently, leveling up your account. This opens up new horizons in trading, making more advanced trading advantages available.
Gems
Gems are a valuable currency within the Pocket Option company, allowing traders to exchange them for various trading advantages in the Market. These gems can be earned through the achievement system, where each completed task or achievement is rewarded with a certain number.
Additionally, Pocket Option offers a unique way of "mining" gems through social trading. Traders need to activate a "Mining License" and start copying the trades of other successful traders. For every successfully copied trade, you receive a gem shard. Accumulating 1000 such shards allows you to combine them into one complete gem. An interesting aspect is that the color of the shard depends on the type of your mining license, adding a strategic element to accumulating gems.
Thus, gems stimulate active trading and task completion in the PocketOption terminal and offer additional opportunities for enhancing your trading experience.
Chests
Pocket Option offers a unique "Chests" feature, which becomes available when you fund your trading account. This feature works like loot boxes: the more significant your deposit amount, the more extensive and valuable the trading advantages you will find inside the chest. After depositing a certain amount, a chest with random trading advantages automatically goes to your account. This can include various bonuses, promo codes, and even gems, which can be used to purchase additional advantages in the Market.
This feature adds an element of surprise and excitement to the trading process, making each account funding not just a necessary procedure but also an opportunity to receive something exclusive. Chests encourage traders to be more active and attentive to their trading balance, providing extra incentives for account funding.
Commissions
One of the critical factors traders consider when choosing a broker is the commission fees. In this section, we'll look at the commissions charged by Pocket Option and how they compare with other brokers in the market.
Trading Fees
Pocket Option offers comfortable conditions for traders by not charging any commission for trading binary options. This makes the platform attractive for beginners and experienced traders who want to maximize their profits by minimizing costs.
Spreads and Swaps
However, if you are involved in CFD trading, paying attention to the spreads is essential. On Pocket Option, spreads are fixed and can be pretty high compared to other CFD brokers. This can reduce your profitability, especially if you trade in large volumes.
As for swaps, they are pretty low and should not be a problem for long-term investors. Nevertheless, it's recommended always to be aware of the current swaps, especially if you plan to keep positions open for an extended period.
Below is a table of spreads and swaps for major currency pairs on a CFD trading account at Pocket Option.
| Asset | Average spread | Swap long | Swap short |
|---|---|---|---|
| AUDUSD | 10.0 pips | -3.02 pips | 1.42 pips |
| EURUSD | 10.0 pips | -5.90 pips | 4.29 pips |
| GBPUSD | 10.0 pips | -2.65 pips | 0.86 pips |
| NZDUSD | 10.0 pips | -1.68 pips | -0.84 pips |
| USDCAD | 10.0 pips | -0.58 pips | -2.54 pips |
| USDCHF | 10.0 pips | 10.37 pips | -12.68 pips |
| USDJPY | 10.0 pips | 11.26 pips | -24.75 pips |
Other Fees
Pocket Option stands out from many other brokers by not charging fees for depositing or withdrawing funds from a trading account. Furthermore, there is no inactivity fee, a common practice among other brokers, and can lead to unexpected costs for traders.
Deposit and Withdrawal
The wide range of deposit and withdrawal methods makes the broker Pocket Option convenient for traders from different regions. The absence of fees for depositing and withdrawing funds is a significant advantage, though it's important to consider possible charges from payment systems. Withdrawal requests are usually processed quickly, but in some cases, it can take up to 14 business days, slightly lowering the overall rating.
Deposit Methods
| Payment System | Currencies | Deposit Fee | Operation Limit |
|---|---|---|---|
 Perfect Money | USD | 0.5% | from 5 USD |
 AdvCash | USD | 0% | from 5 USD |
 YooMoney |  RUB | 0% | from 7 to 510 USD |
 WebMoney | USD | 0% | from 5 to 3061 USD |
 Qiwi | RUB | 0% | from 5 to 800 USD |
 Skrill | USD | 0% | from 22 to 10465 USD |
 Payeer | USD | 0% | from 5 USD |
 Jeton | USD | 0% | from 5 USD |
| PayRedeem | USD | 0% | from 5 USD |
 Neteller | USD | 0% | from 22 to 10465 USD |
 Binance Pay | USD | 0% | from 5 USD |
 Swift | USD | 0% | — |
 SEPA |  EUR | 0% | — |
 Visa | USDUAH | 0% | from 16 to 270 USD |
 Mastercard | USDUAH | 0% | from 16 to 270 USD |
 Maestro | USD | 0% | from 16 to 270 USD |
 Мир | RUB | 0% | — |
| Cryptocurrency | Blockchain | Deposit Fee | Operation Limit |
|---|---|---|---|
 BTC
(Bitcoin) | BTC | 0% | from 50 USD |
 USDT
(Tether) | ERC20 | 0% | from 10 USD |
| USDT
(Tether) | TRC20 | 0% | from 10 USD |
| USDT
(Tether) | BEP20 | 0% | from 10 USD |
| USDT
(Tether) | Polygon | 0% | from 10 USD |
 LTC
(Litecoin) | LTC | 0% | from 50 USD |
 ETH
(Ethereum) | ERC20 | 0% | from 20 USD |
 USDC
(USD Coin) | ERC20 | 0% | from 5 USD |
| USDC
(USD Coin) | TRC20 | 0% | from 5 USD |
| USDC
(USD Coin) | BEP20 | 0% | from 5 USD |
 XLM
(Stellar Lumens) | XLM | 0% | from 10 USD |
 TRX
(TRON) | TRC20 | 0% | from 25 USD |
 XRP
(Ripple) | XRP | 0% | from 30 USD |
 ETC
(Ethereum Classic) | ETC | 0% | from 10 USD |
 DOGE
(Dogecoin) | DOGE | 0% | from 50 USD |
 SHIB
(Shiba Inu) | ERC20 | 0% | from 40 USD |
 ADA
(Cardano) | ADA | 0% | from 50 USD |
 MATIC
(Polygon) | Polygon | 0% | from 50 USD |
 BNB
(Binance Coin) | BEP20 | 0% | from 100 USD |
 CRO
(Cronos) | ERC20 | 0% | from 50 USD |
 AVAX
(Avalanche ) | Avalanche | 0% | from 50 USD |
 ALGO
(Algorand) | Algorand | 0% | from 50 USD |
 ZEC
(Zcash) | ZEC | 0% | from 110 USD |
Pocket Option offers a variety of methods for account funding, including cards, bank transfers, electronic wallets, and cryptocurrencies. The availability of specific methods depends on the client's region of residence and the current platform settings.
To deposit funds, go to the "Finance" section on the left menu panel and select "Deposit". There is no commission for depositing, but additional charges from payment systems may apply. You can also activate deposit bonuses by entering a promo code in the designated field when depositing.
Withdrawal Methods
Funds can also be withdrawn using various methods: cards, bank transfers, electronic wallets, and cryptocurrencies.
To withdraw money from Pocket Option, go to the "Finance" section and select the "Withdraw" tab. Please note that fund withdrawal is only available after account verification.
As with deposits, there is no commission for withdrawing money, but additional fees from financial intermediaries may exist. The processing time for withdrawal requests varies from 1 to 3 business days, although sometimes it may take up to 14 business days.
You can only withdraw funds using the methods you have previously used for deposits. The broker's support service will assist you if you have problems accessing a previously used method.
Markets and Products
The broker offers a diverse range of assets for investing through binary options and CFDs. This makes the platform quite versatile for most traders. However, it's worth noting that soft commodities are absent from the assortment, which could be a downside for those looking for a broader spectrum of investment opportunities.
What Markets Are Available?
| Broker | Olymp Trade | Pocket Option | Binomo |
|---|---|---|---|
| Forex | 28 | 58 | 28 |
| Precious Metals | 2 | 4 | 2 |
| Energy Carriers | 1 | 3 | 1 |
| Indices | 11 | 11 | 5 |
| Stocks | 33 | 130 | 28 |
| ETF | 6 | — | — |
| Cryptocurrency | 19 | 65 | 6 |
This diverse selection of assets makes the platform attractive to traders with different interests and strategies.
Leverage
Traders can trade CFD products with leverage on the Pocket Option platform. The table shows the maximum leverage depending on the trading instrument.
| Trading Instrument | Max. Leverage for Retail Traders |
|---|---|
| Forex | 1:200 |
| Precious Metals | 1:200 |
| Energy Carriers | 1:200 |
| Indices | 1:200 |
| Stocks | 1:200 |
| Cryptocurrency | 1:200 |
Trading Platforms
The proprietary platform of Pocket Option and the web versions of MetaTrader 4 and 5 offer a broad spectrum of functionalities, from essential to advanced, making them suitable for traders of all levels. The intuitive interface and various technical analysis tools on the Pocket Option platform are particularly noteworthy. However, the absence of desktop and mobile versions of these platforms (with only an Android version available for the Pocket Option platform) may be a limiting factor for some users who prefer trading on various devices.
Pocket Option Platform
The Pocket Option platform stands out with its user-friendly interface, designed for optimal user convenience. It boasts many features, including theme switching and a multi-chart mode.
For technical analysis, various chart types are available (bars, Japanese candles, line, and Heikin Ashi), along with 31 indicators and 9 drawing tools (support and resistance levels, trend lines, Fibonacci levels, etc.).
Additional features like "Market Sentiment," sound notifications, and pending orders make the trading process even more flexible. It's important to note that only the platform's web version is available.
MetaTrader 5
MetaTrader 5 on Pocket Option is only available as a web version. This platform is one of the most popular among traders and offers a wide array of tools for technical analysis, including indicators and graphic objects.
It also supports trading across multiple markets, including CFDs, stocks, and cryptocurrencies. MT5 offers automated trading capabilities and the option to copy trades from other traders, making it a versatile tool for various strategies.
MetaTrader 4
MetaTrader 4, also available in a web version on Pocket Option, sets the industry standard for Forex market trading. The platform provides an extensive set of indicators, technical analysis tools, and the ability to automate trading using expert advisors.
MT4 is well-known for its stability and reliability and supports multiple time frames for analysis. It is ideal for traders who prefer to trade currency pairs and are looking for a straightforward yet powerful trading platform.
Analytics
Broker Pocket Option offers an array of analytical tools, including a mobile application with daily analytical reviews, trading signals, and a variety of bots for automated trading. These tools cover different aspects of trading and provide traders with everything they need for practical market analysis.
Pocket Option Analytics App
The "Pocket Option Analytics" mobile app is available on the Android platform for traders wanting to stay updated with the latest analytical data.
The app provides daily reviews, including technical, fundamental, and wave analysis, forecasts, news reviews, and macroeconomic indicators, featuring an economic calendar, interest rates, a currency converter, and a holiday calendar. It's as if you always have a team of professional analysts at your fingertips.
Trading Signals
Additionally, the "Trading Signals" service is available around the clock, offering recommendations for opening positions with precise entry and exit parameters. The signals are based on various indicators and are intended to be used as an additional tool for technical analysis.
Bots
Furthermore, the broker offers the use of some bots available in the "Market" section of the personal cabinet:
- Pocket Option Telegram Bot (official). This bot in Telegram provides quality signals and the ability to place orders automatically from the messenger.
- PocketOptionRobot (unofficial). Available as a Google Chrome extension. This bot allows you to automatically open trades or receive signals based on the platform's indicators.
All these tools are designed to simplify the trading process and make it more efficient.
Education
The educational materials on pocketoption.com include an in-depth platform guide, a library of trading strategies, a Forex tutorial and glossary, video lessons, and tips for traders. These resources cover various topics and provide comprehensive training for traders at all levels.
The quality of the materials is high, with detailed step-by-step instructions and examples. The video tutorials, in particular, make the learning process more interactive and digestible. However, the absence of webinars and podcasts slightly lowers the overall score.
Platform Guide
A detailed guide to the platform is available on the official website, pocketoption.com. The guide contains step-by-step instructions and tips for using all sections and features of the platform, making the learning process smooth and efficient.
Trading Strategies
The broker offers its clients a library of trading strategies, which includes various methods and approaches to technical analysis. From "Breakout Level" to "Alligator," these strategies aim to improve overall trading results.
Forex Tutorial and Glossary
PocketOption provides a comprehensive tutorial and glossary for those interested in Forex trading. These materials will help you understand the basics of Forex trading, technical and fundamental analysis, and risk management.
Video Lessons
The video lessons section features various instructional and promotional clips. These videos provide valuable information in an accessible and easy-to-digest format.
Tips and Tricks
This section contains various tips and tricks for daily work with the platform. From the simple question of "how to trade binary options" to complex strategies and settings, these tips will make your experience with the platform more enjoyable and comfortable.
Customer Support
Pocket Option provides a variety of communication channels, including live chat, phone, and a ticketing system, making reaching out convenient for clients. Customer feedback is mostly positive, though there are negative points, such as issues with verification during fund withdrawal and delays in response. Overall, the support is rated as responsive and professional.
Contact Options
Pocket Option offers several channels for contacting technical support. Clients can use the live chat support, available to users with a "Novice" profile level or higher. Additionally, there is the option to open a ticket in the personal cabinet. Support is available for those who prefer telephone contact at +44 20 8123 4499 from 10:00 to 02:00 UTC+2. There are also general chats in English and Russian.
Support Feedback
Trader reviews about Pocket Option's technical support are primarily favorable. Users note the fast and quality service, the team's readiness to resolve issues, and a wide selection of withdrawal options. However, there are negative reviews concerning the need for account re-verification when withdrawing funds and the lack of responses in live chat. Overall, the support is evaluated as responsive and effective.
Conclusion
Pocket Option is a binary options and CFD broker that could be suitable for a wide range of traders, from beginners to experienced professionals. For newcomers, the extensive educational materials and analytics will be helpful, while seasoned traders will appreciate the variety of trading platforms and assets. However, caution is advised due to the weak regulation and high spreads on CFDs. If you are willing to accept certain risks and limitations, Pocket Option might be a good choice.
FAQ
Is Pocket Option legit?
Yes, Pocket Option is a legit and licensed online broker. It is regulated by the Mwali International Services Authority (MISA) under certificate number T2023322.
Which country is Pocket Option from?
Pocket Option is based in Costa Rica, with its headquarters located in San Jose.
How does Pocket Option make money?
Pocket Option makes money through the difference between the option buy and sell prices, known as the spread. They do not charge any additional commissions or fees for trades.
Is Pocket Option good for beginners?
Yes, Pocket Option is a good choice for beginners. The platform is user-friendly, offers a demo account for practice, and provides educational resources to help new traders learn the basics of binary options trading.
Does Pocket Option offer a demo account?
Yes, Pocket Option offers a free demo account with $10,000 in virtual funds. This allows traders to practice and test strategies without risking real money.
How can I open an account with Pocket Option?
To open an account with Pocket Option, visit their website and click on the "Sign Up" button. Fill in the required information, such as your email address and password, and click "Register." You will then need to verify your account by providing additional information and proof of identity.
How can I delete my Pocket Option account?
To delete your Pocket Option account, contact their customer support team via email or live chat. They will guide you through the process and assist with closing your account.
What is the minimum deposit for Pocket Option?
The minimum deposit for Pocket Option is $5. This allows traders to start with a relatively low investment.
How do I deposit funds in a Pocket Option account?
To deposit funds into your Pocket Option account, log in and click on the "Deposit" button. Choose your preferred payment method, such as credit/debit card, e-wallet, cryptocurrency, or bank transfer. Follow the instructions to complete the transaction.
How do I withdraw money from Pocket Option?
To withdraw money from Pocket Option, log in to your account and click on the "Withdraw" button. Select your preferred withdrawal method and enter the amount you wish to withdraw. Follow the instructions to complete the process. Withdrawal times may vary depending on the chosen method.
Is Pocket Option halal or haram?
The permissibility of trading on Pocket Option under Islamic law hinges on several factors. Pocket Option offers Islamic trading accounts, which exclude Riba (interest) and Gharar (uncertainty), making it potentially halal for Muslim traders. These accounts are designed to comply with Shariah principles by ensuring that no interest is charged on overnight positions and that trading is based on clear and transparent contracts.
For a detailed analysis and more information, you can visit Pocket Option Halal or Haram.
