Pocket Option Broker Review 2024: Unbiased Analysis and Insights

Key Points About Pocket Option

Pocket Option's History and Reputation

What's Pocket Option's History?

In 2017, a group of IT and FinTech experts joined forces with a clear mission: to make trading accessible, convenient, and enjoyable for all. This collective effort gave birth to Pocket Option. Throughout the years, Pocket Option has continually evolved its platform to provide even better trading experiences for its clientele.

What's Pocket Option's Reputation?

Pocket Option is renowned for its trader-friendly platform, minimal initial deposit requirement, generous payout rates, and a handy demo account. Moreover, it provides a social trading feature, enabling traders to mimic the strategies of successful fellow traders.

Widely acknowledged as a reliable and trustworthy broker, Pocket Option enjoys a predominantly positive reputation within the trading community. The company receives acclaim for its user-friendly interface, swift withdrawal processes, and responsive customer support.

What Type of Account Can I Open with Pocket Option?

Pocket Option offers a variety of account types to choose from, depending on your trading capital. Here is a brief overview of each account type:

• Newbie account: Your account falls into the "Newbie Account" category if your trading capital is less than $100.
• Beginner account: Your account falls into the "Beginner Account" category if your trading capital ranges between $100 and $1,000.
• Experienced account: Your account falls into the "Experienced Account" category if your trading capital ranges between $1,000 and $5,000.
• Master account: Your account falls into the "Master Account" category if your trading capital ranges between $5,000 and $15,000.
• Pro Account: Your account falls into the "Master Account" category if your trading capital ranges between $15,000 and $50,000.
• Guru Account: Your account falls into the "Guru Account" category if your trading capital is more than $50,000.
• MT4 and MT5 Forex Account: This account gives you access to the popular MT4 and MT5 trading platforms for CFDs trading on forex, crypto, stocks, commodities, and indices. All clients with a total deposit of at least $1,000 are eligible for the MT4 and MT5 Forex trading accounts.

In addition to these account types, Pocket Option also offers a demo account. A demo account is a virtual trading account that allows you to practice trading with virtual money. This is a great way to learn how to trade without risking any real money.

To open an account with Pocket Option, you need to provide the following information:

• Your name
• Your email address
• Your phone number
• Your country of residence

You will also need to choose a password for your account.

Once you have provided the required information, you will be able to deposit funds into your account and start trading.

What Types of Trades Does Pocket Option Offer?

Pocket Option offers the following types of trades:

• Binary options: Binary options are financial options that have two possible outcomes: either you win or you lose. Pocket Option offers binary options on a variety of assets, including forex, stocks, cryptocurrencies, and commodities.
• CFDs (Contracts for Difference): CFDs are financial derivatives that allow you to trade on the price movement of an asset without actually owning the asset. Pocket Option offers CFDs on a wide range of assets, including forex, stocks, commodities, and cryptocurrencies. This is available on the MT5 trading terminal.

What Payout Rates Does Pocket Option Offer For Options?

Pocket Option provides payout rates that can reach 99%, but your actual rate depends on the asset, expiry time, and market conditions. For example, you may receive a higher payout rate for trading options on popular assets, such as currencies and commodities. You may also receive a higher payout rate for trading options with longer expiry times.

Note: Keep in mind that payout rates for Pocket Option options can change at any time. Therefore, it's crucial to verify the current payout rates before making a trade. Click here to visit Pocket Option's website for up-to-date payout rates.

What Trade Durations Does Pocket Option Offer For Options?

Pocket Option offers a variety of trade durations for options, ranging from 5 seconds to 4 hours. This allows traders to choose the trade duration that best suits their trading style and investment goals.

What Trading Platforms Does Pocket Option Provide?

Pocket Option provides two trading platforms:

• Pocket Option Web platform: The Pocket Option web platform is available on any device with a web browser. It is easy to use and offers a variety of features, including technical indicators, charting tools, and social trading.

  

• Pocket Option Mobile platform: The Pocket Option mobile platform is available for iOS and Android devices. It is a user-friendly platform that allows you to trade on the go.

  

Both the web and mobile platforms offer the same trading features and functionality. The only difference is that the mobile platform is designed for smaller screens.

You can choose the trading platform that best suits your needs. If you prefer to trade on a desktop computer or laptop, then the web platform is the best option for you. If you prefer to trade on the go, then the mobile platform is the best option for you.

You can also switch between the web and mobile platforms at any time. Simply log in to your Pocket Option account on the platform of your choice.

What Trading Fees and Commissions Does Pocket Option Charge?

Pocket Option offers options trading without any fees or commissions. However, when it comes to trading on leverage, there are some fees and commissions to be aware of. Here are the main ones:

• Options: No fees or commissions for options trading are charged. Zero fees and commissions.
• CFD Commissions: Pocket Option charges a small CFD commission on all CFD trades.
• Inactivity fee: Pocket Option charges an inactivity fee of $5 per month if you do not log in to your account for 90 days.

In addition to these fees, Pocket Option may also charge other fees, such as fees for withdrawals and deposits.

Note: To access a full list and more detailed information about fees and commissions, click on the following link to visit Pocket Option's website.

Which Deposit and Withdrawal Methods Does Pocket Option Accept?

Pocket Option accepts a wide range of deposit and withdrawal methods, including:

• Credit and debit cards: Visa, MasterCard, Maestro
• E-Wallets: Skrill, Neteller, Perfect Money, WebMoney, Advcash, Payeer, Jeton Wallet, SticPay
• Cryptocurrencies: Bitcoin, Ethereum, Litecoin, Dogecoin, Tether, Ripple, Tron
• Bank transfers: Local bank transfers, international bank transfers
• Mobile payments: M-Pesa, Airtel Money, MTN Mobile Money

The specific deposit and withdrawal methods that are available to you will depend on your country of residence.

To make a deposit, simply go to the "Finance" section of your Pocket Option account and select the "Deposit" option. Then, select the deposit method you want to use and enter the required information.

To make a withdrawal, go to the "Finance" section of your Pocket Option account and select the "Withdrawal" option. Then, select the withdrawal method you want to use and enter the required information.

Pocket Option processes withdrawals quickly, and you should receive your funds within a few hours or days, depending on the withdrawal method you choose.

Here are some tips for choosing a deposit and withdrawal method:

• Choose a deposit and withdrawal method that is convenient for you.
• Consider the fees associated with each deposit and withdrawal method.
• Choose a deposit and withdrawal method that is supported by your country of residence.

Below is a table of some of the deposit and withdrawal methods Pocket Option supports:

Note: Please be aware that Pocket Option continuously introduces new deposit and withdrawal options. For more comprehensive and up-to-date information, kindly refer to their website at the following link.

Who Regulates Pocket Option?

Pocket Option is regulated by the International Financial Market Relations Regulation Center (IFMRRC). The IFMRRC is a self-regulatory organization (SRO) that oversees the activities of binary options and CFD brokers. It is not a government regulator, but it is a reputable organization that is committed to protecting the interests of traders.

The IFMRRC requires its members to comply with a number of regulations, including:

• Maintaining adequate financial reserves
• Providing fair and transparent trading conditions
• Protecting client funds
• Resolving customer complaints in a timely and fair manner

What Are Some Alternative Brokers To Pocket Option?

If Pocket Option is not available in your country, or if you prefer an alternative, here are some other brokers that provide similar services to Pocket Option:

• Deriv
• Olymp Trade
• IQ Option
• Expert Option
• Binomo
• Quotex
• Nadex

Verdict and Key Takeaways on Pocket Option Broker

Why Should I Trade With Pocket Option?

Pocket Option offers several features and benefits that make it an attractive option for traders. These include:

1. User-friendly trading platform: Pocket Option's web and mobile platforms are easy to use and navigate, even for beginners.
2. Low minimum deposit: You can start trading with as little as $10.
3. Variety of trading assets: Pocket Option offers a wide range of trading assets, including currencies, commodities, stocks, and indices.
4. High payouts: Pocket Option offers attractive payout rates compared to some option brokers.
5. Demo account: You can practice trading with a demo account before you risk any real money.
6. Social trading: You can copy the trades of other successful traders.
7. Variety of trading types: Pocket Option offers a variety of trading types, including quick trades, digital options, and Forex MT5.
8. Responsive customer support: Pocket Option's customer support is available 24/7 to answer your questions and help you with any problems you may have.
9. Fast withdrawals: Pocket Option processes withdrawals quickly, and you should receive your funds within a few hours or days, depending on the withdrawal method you are using.

Why Should I Not Trade With Pocket Option?

The only disadvantage of trading with Pocket Option revolves around its account categorization system, which gives rise to concerns regarding equality as it appears to favor traders with larger capital deposits. If your trading capital deposit is $100 or less, you are placed in the newbie account category, which comes with some limitations on max trade sizes and available features and resources. In my opinion, this classification or ranking system is clearly a disadvantage if you are a trader with little startup capital.

If you want a broker that will treat you equally and offer the same payouts and services regardless of your deposit, then consider Deriv. Unlike other brokers, Deriv doesn't categorize accounts or provide special treatment based on the capital amount you've deposited. Whether you start trading with $50 or $50,000, you'll receive the same payout rates and service as any other trader, regardless of your deposit size.

Final Verdict About Pocket Option

Pocket Option undoubtedly ranks as a top-tier options broker, especially for binary option traders in need of social trading support. I appreciate Pocket Option's clean and user-friendly trading platform, accessible from any computer or mobile device on the web or as a standalone mobile app, enabling trading on the go. Additionally, their provision of an MT5 account opens up a world of exciting possibilities for automated CFD trading.

These features make it a broker worth considering. I recommend starting with a free Pocket Option demo account to explore their trading platform, allowing you to determine if it aligns with your needs. Click here to open a free Pocket Option demo account and experience what they have to offer firsthand.