Pocket Option Review 2023: Scam or Legit? (Pocketoption)
Binary options trading has become a rapidly growing investment opportunity for traders and investors across the world. Pocket Option broker (Pocketoption) is one of the leading binary options brokers in terms of customer service, innovative features, and overall quality.
The company was founded by a group of professionals with extensive backgrounds in trading and investment activities.
The broker’s trading platform is designed to be simple, clear, and convenient for traders of all skill levels.
Pocketoption broker strives to make the trading process as simple, clear, and convenient as possible.
Regulation and safety
Is Pocketoption a scam or not?
The world of binary options trading is becoming more and more popular across the globe, and with that popularity, it has attracted bad actors who want to take advantage of this new market opportunity.
With that in mind, let’s try to find out if the Pocketoption platform is among those scams brokers beginning with regulation.
Where is Pocket Option Regulated?
The broker is regulated by CySEC in Cyprus, which means it follows strict rules to protect customers and their funds within this jurisdiction.
Other than CySEC, Pocket Option is regulated by ASIC in Australia and the International Financial Market Relation Regulation Center (IFMRRC), which are among the best regulatory organizations for global financial companies.
In addition to these regulatory bodies, the platform uses an SSL certificate and also requires clients to use 2-factor-authentification for increased security.
Again, is Pocketoption a scam?
This broker is among the most reputable binary options brokers in 2022. And that’s if we judge it with regulation, safety, trade execution, and customer service.
If you make a deposit on your account, you can be sure that your funds will be safe and you can use everything for trading when you want.
On the same note, your withdrawals will be fast and safe on the Pocket option if you follow the guidelines outlined for payments.
Since we still have lots of things to look at before determining if Pocketoption is legit or not, I’ll request that you continue reading to find out more.
How to Access the Pocket Option Platform.
You can access this broker from any device that has an internet connection.
The broker offers a desktop platform, as well as mobile apps for both Android and iOS devices.
The Pocketoption platform is designed to be simple, clear, and convenient for traders of all skill levels.
Traders can use the platform to trade binary options, Forex, stocks, and commodities
a). Accessing Pocket Option via The Web Platform
Immediately you log into the web platform, you get a very good overview of the website.
Without staining you will see the button for switching from a live to a demo account and vice vasa.
The second button after the trading button takes you to your safe, shows you how to deposit, withdraw, get cash backs, and access promo.
You can use your demo account which by the way comes with $1,000 to access the platform, figure out the platform, learn to trade, and come up with trading strategies for Pocket Option.
Accessing Pocket Option via The MetaTrader 5 Platform.
MetaTrader platforms are Forex and CFD trading software developed by MetaQuotes Software.
There are four main types of MT Platforms: the original MT, MT Mobile, the web-based MT Web, and the recently released MQL programming language environment called MT Prime.
Traders have access to both the original MT platform and MT5 as of 2020.
Benefits of Using The MT5 Platform to Trade on Pocket Option.
1. Indicators and Expert Advisors
One of the benefits of trading via the MT Platform is that you have access to a wide range of indicators and expert advisors (EAs).
These can be used to help you identify trading opportunities and automate your trading strategies.
The Pocketoption platform offers a good selection of both pre-built and custom-built indicators and EAs to help you successfully trade Pocket Option.
2. Multi-Language Support
In addition to indicators, MT5 allows for multi-language support, which is important if your native language isn’t English or if you are trading in a foreign market.
3. Drawing tools and charting
The Pocketoption MT5 platform also offers a wide range of drawing tools and charting options, which can be used to help you better understand the price action and identify trading opportunities.
4. Multiple time frames for analysis
You can use MT5 to view multiple time frames for their analysis.
5. Automated trading
Last but not least MT5 allows for automated trading.
This means you can program your own trading strategies and have them executed automatically when certain conditions are met.
c). Accessing Pocket Option via Mobile Apps
This broker also has mobile apps for both Android and iOS devices.
These Pocket Option mobile apps are designed to make it easier than ever to trade Forex and digital options from your phone or tablet, wherever you may be.
Download the Pocket Option Mobile App here.
Account Types Available in Pocket Option.
Pocket Option offers two types of accounts: a demo account and a real-money Pocket Option.
1. The Pocket option Demo Account
When you first sign up with this broker, you get the choice to either move to a live account or start with a demo account.
The demo account comes with $1,000 (replenishable) which you can use to learn how to trade, figure out the trading platform, make trading strategies, test strategies, and learn how to use the platform.
While you may feel like immediately switching to the live account to start making real money, it is important to use the demo account for a while until you are confident about trading.
Remember, trading on a demo account is just as real as trading on a live account.
Except, the demo account allows you a risk-free experience of trading.
2. The Pocket option Live/Real Account
The Pocket Option live/real account accesses the same platform as the demo Pocket option.
The only difference is, you can use your real money to trade binary options on a wide range of assets, indices, and currencies and earn real money which you can withdraw when you want.
How to Create a New Account on Pocket Option.
- To create an account, head over to their website and click on the registration button at the top of the platform.
- Alternatively, you can click on this link to register.
- Next, enter the required credentials or use Facebook/Google to register.
It’s that easy. You just created a new account on Pocket Option.
How to fund your Pocketoption account.
This broker accepts a variety of payment methods, which you can see below.
Supported Payment Methods for Pocket Option:
- – Credit/Debit Cards (Visa, Mastercard, Maestro)
- – Bank Wire Transfer
- – Neteller
- – Skrill
- – Bitcoin
You can use any of the above methods to deposit funds into your Pocket Option account.
How to Trade Pocket Option.
Now that you have funded your account, it’s time to start trading!
To trade Pocket Option, follow these simple steps:
How to Place Your First Trade on Pocket Option.
Trading in P.O is just as easy as trading on any other platform.
- The first thing you need to do after logging in is to choose an asset to trade ( could be Currencies, Commodities, Cryptocurrencies, Stocks… you name it)
- Next, choose the trade amount. The minimum trade amount in P.O is $1.
- Now choose the price direction. Predict whether the price of this asset will increase or decrease.
- Get your profit if your prediction ends up being right. It’s that simple.
Try it with the demo account then go to the next step to also try the live account.
That’s it! You just traded Pocket Option.
How to Withdraw Money from Pocket Option.
In order to withdraw your money, follow these simple steps:
- – Login to the platform
- – Click on “withdraw” in the top menu bar
- – Enter the amount you want to withdraw and your payment method
- – Click on “submit” and your withdrawal will be processed instantly!
Frequently Asked Questions.
1). How good is Pocket Option?
Until Pocketoption, there wasn’t any other offshore binary options broker accepting traders from the US and parts of the EU region. Then came Pocket Option which has made it easier for traders from all countries to trade without issues.
Traders can also use the Pocketoption platform to earn passive income by copying trades from other traders. And this is a plus as older trading platforms in the same industry still don’t have this feature.
A good example is Olymp Trade.
2). How much money can you make on Pocket Option?
Well, this depends on the trading instrument you are actively trading and how stable the rate of return is at that particular time.
Ideally, the rate of return on PocketOption fluctuates between 50% and 218%. Assuming you open a position of $100 on an asset with a rate of return of 98%, then you will make $98 if the trade goes in your favor.
3). Can you cash out on the PocketOption Platform?
No, the cash-out option is not available for PocketOption however, you can withdraw your earnings to any payment method available on the platform after winning.
PocketOption has more than 20 payment methods and regardless of the method that you use and the currency that you withdraw to, you will receive your earnings.
4). Is PocketOption Profitable?
Yes, Pocket Option is profitable if you have a strategy that works and trade on assets with high RoR. If you want even more profits on Pocket Option then you must try High/Low trading on the platform.
Profits on this mode of investing come fast and the rate of return often goes above 100%.
5). Do you pay taxes on Pocket Option?
Depending on the country you live in and the tax laws that require you to declare extra income methods, you might have to pay taxes. In Kenya however, most retail traders don’t declare earnings from online sources hence trading income is almost never taxed.
6). Who is the owner of Pocket Option?
PocketOption is owned by Gembell Limited. The platform was founded in 2017 and its headquarters are based in the Marshall Islands.
Pocket Option is also regulated by the International Financial Market Relations Regulation Centre (IFMRRC).
P.O is a modern broker for binary options that offers a wide range of assets, indices, and currencies to trade.
The Pocketoption platform is easy to use and provides stable trading for traders and investors.
Pocket Option also has mobile apps for both Android and iOS devices.
To create an account, head over to the PocketOption website and click on the registration button at the top of the platform.
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