Pocket Option Review 2023 – Is This Broker Legit or Scam?
Pocket Option burst onto the binary options scene in 2017 and quickly became a popular platform for speculating on financial markets. But can you trust Pocket Option with your trading funds? Or is this broker just another scam operation? In this extensive Pocket Option review, we’ll analyze the features, regulations, payments, withdrawals, and customer feedback related to this binary options provider to determine if they deserve your business.
Finding a reputable binary broker is challenging, so a thorough evaluation is essential before depositing your money and trading. Let’s dive in to see if Pocket Option ranks among the top trustworthy brokers or falls short.
Overview of the Pocket Option Trading Platform
Pocket Option built a proprietary trading platform designed specifically for binary options:
- Web-based – No download required, allowing easy access from any device.
- Customizable interface – Charts and workspace can be tailored to your preferences.
- Expiry times – From super-fast 30 second options to end-of-day expiries.
- Advanced charting – Technical analysis tools like trend lines, different chart types, and over 100 indicators.
- Asset screener – Scanner helps filter potential trading opportunities by technical factors.
- Strategy builder – Automated bot creation allows coding of trading strategies without manual execution.
While desktop platforms like MetaTrader offer more advanced capabilities, Pocket Option provides a robust binary options trading experience directly through your web browser.
Account Types and Availability
Pocket Option serves traders globally by offering multiple account tiers:
- Demo Account – Practice trading with $10,000 in virtual funds. No deposit required.
- Standard Account – Live trading with minimum deposit of only $50.
- Premium Account – For active traders. Unlocks additional features and faster withdrawals.
- VIP Account – Top tier account with high deposit minimum but provides maximum platform capabilities and expert personal analyst.
The tiered structure suits all trader experience levels. Start with the demo account to hone your strategy before depositing real capital.
Pocket Option Asset Index
Pocket Option provides over 100 trading instruments across major financial markets:
- Forex – All major and minor currency pairs.
- Cryptocurrencies – Top names like Bitcoin, Ethereum, Litecoin, Cardano.
- Stocks – Leading global stocks including Apple, Google, Tesla, Alibaba, Amazon.
- Indices – Key global stock indices like S&P 500, NASDAQ, FTSE, Nikkei.
- Commodities – Gold, silver, oil, corn, wheat, natural gas.
This diverse asset list enables trading a variety of markets with binary options through a single platform.
Payments, Regulation and Security
One of the biggest concerns with any binary options broker is getting your money safely in and out. Here are key details on Pocket Option’s processes:
- Deposit methods – Numerous payment options including cards, e-wallets, crypto.
- Withdrawal processing – Typically within 24 hours on business days.
- Regulation – Not regulated currently though Pocket Option expresses plans to obtain licensing.
- Security – Uses SSL encryption and stores customer funds separately from company funds.
While regulation would provide more oversight and accountability, Pocket Option meets standards for safeguarding customer deposits and processing withdrawals efficiently.
Is Pocket Option a Scam?
Given horror stories of binary options scams, it’s fair to approach new brokers with skepticism. Here are signs indicating Pocket Option does not appear to be a scam:
- Real company – Owned by Gembell Limited, an actual business entity.
- Responsive support – Users report generally quick and helpful support.
- Positive feedback – No systemic complaints about inability to withdraw funds.
- Growing brand – Pocket Option has gained steady popularity since launching. Scam brokers tend to have short lifespans.
- Active development – The platform is under frequent improvement based on trader feedback. Scams do not invest resources into evolving products.
While the lack of regulation raises an eyebrow, user experiences suggest Pocket Option operates legitimately in regards to servicing accounts and withdrawal requests. Performing due diligence is still advised, however.
Pocket Option Customer Reviews
Looking at some firsthand experiences shared by Pocket Option users adds further insight:
Been trading binaries consistently with Pocket Option for over a year. Withdrawing to my Skrill account weekly without any issues.”
“Support helped me quickly when my first debit card deposit didn’t go through. Chat support is great for quick questions when starting out.”
“Wish they had regulation for account protection. But otherwise great platform, lots of assets to trade, and withdrawals arrive in under 24 hours.”
The main recurring downside mentioned is the lack of regulatory oversight. But most feedback indicates Pocket Option honors withdrawal requests promptly.
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Frequently asked questions
Q: Is Pocket Option a legitimate broker?
A: Yes, Pocket Option is a legitimate broker. It is a well-established company that has been operating since 2017 and is regulated by the International Financial Market Relations Regulation Center.
Q: Can I trust Pocket Option with my deposits and withdrawals?
A: Yes, you can trust Pocket Option with your deposits and withdrawals. Pocket Option provides secure payment options and ensures that all transactions are processed in a timely manner.
Q: What customer support options are available at Pocket Option?
A: Pocket Option offers customer support through email and live chat. Their support team is available 24/7 to assist you with any questions or concerns you may have.
Q: Are there any user reviews of Pocket Option?
A: Yes, there are user reviews of Pocket Option available online. Many traders have shared their positive experiences with the platform and praised its easy-to-use interface and fast payout.
Q: Can I trade binary options on PocketOption?
Q: How do I submit a review of PocketOption?
A: To submit a review of Pocket Option, you can visit their website and navigate to the “Reviews” section. From there, you can share your experience and provide a rating of the broker.
Q: Is Pocket Option a good broker for beginners?
A: Yes, Pocket Option is a good broker for beginners. It offers a user-friendly interface, educational resources, and a demo account for practicing trading strategies before investing real money.
Q: What are the features of PocketOption?
A: Pocket Option offers a range of features, including social trading, where you can follow and copy successful traders, fast payout, a wide selection of assets for trading, and various trading tools and indicators.
Q: Is Pocket Option a regulated broker?
A: Yes, Pocket Option is regulated by the International Financial Market Relations Regulation Center. This regulatory body ensures that the broker adheres to strict financial and ethical standards.
Conclusion – Should You Trade on PocketOption?
Pocket Option delivers a feature-rich proprietary trading platform tailored specifically for binary options. Their tiered account model accommodates all trader skill levels.
While Pocket Option is unregulated, they score well in other trust factors like transparency, responsive support, lack of withdrawal complaints, and platform investment.
Here are the key takeaways:
- Web-based platform with advanced binary options trading features.
- 100+ tradable instruments across forex, crypto, stocks, commodities.
- Accepts payments via cards, Skrill, crypto. Quick withdrawals.
- Operates without regulation currently. Most users report no withdrawal issues.
Overall Pocket Option succeeds in making binary options trading easily accessible for retail traders. Experienced traders may desire oversight assurances that come with regulation. But Pocket Option otherwise provides a quality trading environment according to most reviews.
As always, only deposit amounts you can afford to lose and withdraw consistent profits. Apply caution engaging any unregulated broker. But current signs point to Pocket Option being a legitimate binary options platform.