Pocket Option Review 2022 – Is It Scam or Legit?

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Pocket Option is a regulated binary options broker known for its great variety of tradable instruments, low minimum deposit and fast account opening. Their trading platform is a great fit for options traders from at all levels. Pocket Option is regulated by the International Financial Markets Relations Center (IFMRRC) and is allowed to users from UAE. 

pocket-option-rating
FeaturePocket Option
Founded2017
RegulationIFMRRC
DemoYes
Minimum Deposit$50
Minimum Trade$1
Bonus50%
Deposit MethodsCrypto, eWallet, Wire Transfer, Credit & Debit Cards
HeadquartersRepublic of the Marshall Islands MH
Trade TypesHigh/low, Turbo
Trading PlatformWeb, Windows, iOS, Android
Social TradingYes
UAE UsersYes
Assets130+
Countries Available95+
Overall Score4.7

Pocket Option is a regulated options broker with a scam-free history. Their trading platform is intuitive and easy to use, account opening is fast and simple. Users can buy and sell options on more than 130 different assets including stocks, currency pairs, cryptos and fund their account using a wide variety of payment methods. The minimum trading size is $1.

Their services are available to customers from 110 countries including customers from UAE. Customer service is responsive and available in Arabic language. Pocket Option is ranking Nr1 on our list of the best trading platforms for options trading.

Pocket Options Key Takeaways:

  • 150 + different markets
  • 0% platform fees and no hidden fees
  • Trading “on the go” with the Pocket Option Mobile App
  • Low minimum deposit
  • Demo account with $10.000 in virtual money

Pocket Option Trading Methods

Pocket Option offers binary options trading on 130 different asset classes.They are a options broker only offering high/low options or vanilla options. Users choose a timeframe and bet on the fact if a price will rise or fall at the end of the timeframe.

The term binary refers to the all-or-nothing payouts of the financial instrument. You either lose your investment if your prediction is wrong or ”win” and receive a payout.

Payouts

Pocketoption has above average payouts. The higher the payouts, the more a user can profit from making the right predictions.

The lowest payout is 50%, whilst the usual payouts are between 80% and 100%. The highest payout percentage is 218%.Pocket Option only offers high/low binary options trading and has no ladder or pair options available. 

Bonuses and Promotions

Pocket Option hands out a 50% bonus once you open a new account and deposit funds. You only receive this welcome bonus once, so think of the height of your first deposit. It is impossible to open an account and then withdraw the bonus. The bonus only becomes withdrawable after you have traded the market for a while. 

Pocket Option Deposit options

Demo Account

Pocket Option offers a demo account with a virtual balance of $10,000 to trade the markets with. You don’t need to sign up to get access to the demo. The demo is also handy for experienced traders to get to know the PO trading platform. 

Pocket Option Mobile App

Pocket Option has both a desktop PC version and a mobile binary options trading app. The mobil app is available on both Android and iOS devices. This allows traders to trade binary options on the go, wherever they are. They offer a MetaTrader 4 and MetaTrader 5 iOS and Android app. 

The mobile app has the same features as the desktop trading platform. You can deposit and withdraw money from within the app. The mobile interface is intuitive and responsive. This means all charts and buttons will adjust to the screen size of your device. 

The mobile app is available on all iOS devices with iOS 11.0 or later and Android devices with Android 4.4 or later. 

mobile trading app

Assets Available on Pocket Option

Traders can trade binary options on over 130 assets on Pocketoption. The assets include:

– Stocks
– Cryptocurrencies
– Forex Pairs (best forex options brokers)
– Indices
– Commodities

All assets have different payout percentages. You can check these here.

Deposits and Withdrawals

Pocket Option offer wide variety of deposit methods to fund their trading accounts, including cryptos. Once you have set up your account and verified your identity, you can make your first deposit. The minimum deposit is $50. Deposit and withdrawal option include:

– MasterCard
– Visa
– VLoad
– WebMoney
– Bitcoin
– Litecoin
– Ethereum
– Stellar
– Tether
– Ripple XRP
– Jeton
– ADVcash
– Perfect Money
– Paxos
– Dai
– Zcash
– TrueUSD
– PAXOS Standard
– USDK
– USD Coin

The minimum withdrawal amount is $10.You can withdraw money for free the same way you have deposited it.Your bank or card issuer may charge currency conversion fees. 

Trading Platform Features

The Pocket Option trading platform offers a wide range of tools and features compared to other options brokers. These include:

Signals and Indicators

Pocket Option provides users with signals and indicators to signal them potential lucrative trades. There are 30 different indicators available in total. The most popular indicators available are Accelerator Oscillator, CCI, ADX, Bollinger Bands, Moving Average, MACD, Momentum, RSI, and the Average True Range.

Pocketoption sends out trading signals via its Telegram Signal bot. You can manually place trades according to the signals or place them on auto-pilot.

Trading Tournaments

With the trading tournaments feature you can compete with other traders for prizes. When you reach the top rankings you will receive both prize money and one or more achievements.

Advanced Charting Features

Pocket Option offers a wide variety of advanced charting tools including lines, candles, bars, and Heiken Ashi. Timeframes can be set from 1 5 seconds to one day. 

Achievements

You can earn badges by completing achievements. These badges are shown on your account profile so others can see how good you are as a trader. These achievements also net you trading advantages like higher percentage payouts, bonus trading money, and more. 

Social Trading

The Social Trading tool is intuitive ans is handy for new traders. You can use this feature to ‘copy’ other traders and open the exact same trades as them. This allows you to tap into their knowledge and be just as profitable. You can see detailed stats and performance of traders including their number of deals, max. trade amount, max. profit, percentage of profitable deals. It is even possible to send messages to other traders.

MetaTrader 5 Compatibility 

Users can choose to trade binary options via web trader or via MetaTrader 5. Trading binary options through MetaTrader 5 with allows you to use automated trading software and have access to technical analysis tools.

Commissions & Fees

Pocket Option doesn’t charge any hidden commissions and there are no hidden trading fees either. Depositing money into your trading account is free of charge. The only fees charges are when you withdraw funds via Perfect Money. In this case, they charge a 0,5% withdrawal fee.

Account Types

Account Type Requirements Benefits Deposit Fee Spread
Demo AccountSign Up RequiredLearn to trade with virtual cashNONO
Novice AccountLess than AED 350 balance and maximum transactions amount of AED 3.650/NONO
Beginner AccountAED 350 minimum balance/YESNO
Experienced AccountAED 3650 minimum balanceprofitability increment by 2%NONO
Master AccountAED 18.370 minimum balance and maximum transaction amount of 7.350AED profitability increment by 4% and priority withdrawalsNONO
Professional AccountAED 55.000 balance and maximum transaction amount of AED 11.000profitability increment by 6%, priority withdrawalsNONO
Expert AccountAED 183.600 balance and maximum transaction amount of AED 18.370profitability increment by 8% + priority withdrawal + Premium gifts + discounts NONO
MT5 Forex Options Accountavailable for the “Experienced”, “Master”, “Professional,” and “Expert” accounts/YESFrom 1.1 pips

Customer Service

The Pocket Option customer support is available 24/7 by live chat, email, and by phone. If you have any questions, you can contact them in over 30 different languages, including English and Arabic. PO is active on Instagram, Facebook, and other social media, so you can contact them via those channels as well.

Regulation

Pocketoption is regulated by the International Financial Market Relations Regulation Center (IFMRRC). They have Know-Your-Customer procedures in place and comply with the Anti-Money Laundering Policy. 

Pros and Cons

If you are still not sure whether to sign up for a Pocket Option trading account, here are the pros and cons to help you decide. Reasons to sign up include:

Positives Negatives
150+ tradable assetsOnly one trading account available
50% first time deposit bonusTrading type are limited to high/low
AED 180 minimum depositMissing advanced trading features
Social trading featuresNot licensed in the UAE
AED 5 minimum trade requirementSlow customer support
Free demo account with AED 30.000 virtual cash
UAE traders are accepted
Arabic language customer support
Regulated by IFMRRC 

Disadvantages:

– Only high/low options are available
– Lacks advanced trading features seen on other binary options platforms
– Doesn’t allow Expert Advisors or automated trading software
– Not licensed by CySec 

Pocket Option is a trustworthy binary options trading platform, regulated by the IFMRRC. Based on our analysis and research, it is a reliable broker with great customer reviews, secure deposits, and withdrawals. 

Conclusion

Pocket Option is a trustworthy online broker suitable for users looking to trade binary options on an intuitive and easy to use platform. Based on their responsive support, free demo account and great trading tools its a good fit for beginner and advanced raiders.

FAQ

Can I make a profit on the demo account?

You cannot make a real profit on the demo account. The demo account is to familiarize yourself with the platform and practice your binary options trading skills.

Does Pocket Option accept traders from the UAE?

Yes, Pocket Option accepts traders from the UAE.

Can I trade forex on Pocket Option?

Only traders with experienced, master, professional, or expert accounts have access to Pocket Option’s MT5 forex trading platform.


Methodology
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best forex brokers. Trading platform, fees, mobile trading, payments, assets, regulation,
education and research are all part of our six-month evaluation of a broker’s account.The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online brokers we reviewed. Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Disclaimer
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.

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