Pocket Option Review 2024 – Can you trust it?

[Andre Witzel]

In the realm of finance, binary options have carved a niche for themselves, offering traders a unique blend of high returns and calculated risks. Amid the myriad of brokers in this market, Pocket Option has emerged as a notable contender. This blog post ventures into an in-depth Pocket Option review, spotlighting its features, trading conditions, user feedback, and much more.

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Key Takeaways

- Pocket Option is a reliable binary options broker offering multiple account types, social trading capabilities and its own proprietary platform.

- Users benefit from low fees, fast withdrawals and favorable trading conditions. The lack of regulation raises questions about security.

- Successful binary options traders need to practice using a demo account before starting real trades and develop their own strategies for market research.

- According to binaryoptions.com, Pocket Option is the best broker for aspiring binary traders who want to make a profit from binary trading.

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Pocket Option Overview

Pocket Option, established in 2017 and owned by Gembell Limited, has earned a reputation as a reliable binary options broker. It serves a diverse group of traders, providing a proprietary trading platform, social trading capabilities, and a range of account types with different minimum deposits. As a pocket option broker, they have managed to cater to the needs of various traders in the binary options market.

Registering an account with Pocket Option is a simple process via their website. The platform also provides a demo account with a simulated $10,000 to help users familiarize themselves with the trading process. Notably, Pocket Option serves a diverse clientele by providing various account types with different minimum deposits.

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Trading Platform Features

Pocket Option’s trading platform, available on the pocket option website, offers:

- A user-friendly interface

- Access to over 100 trading instruments, including major and minor currency pairs, commodities, cryptocurrencies, and stocks from US and European companies

- The ability to diversify portfolios and explore a vast array of financial markets, making it the best trading platform for many traders.

The ‘Market’ section and ‘Trading signals’ are key components of the Pocket Option platform. The ‘Market’ section provides various tools like bonuses and promotional codes to improve the trading experience.

The “Trading signals”, one of the essential trading tools, provide recommendations for binary options trading based on technical information and market value analysis of the relevant financial assets. However, traders must exercise caution when evaluating multiple instruments simultaneously, ensuring they select the correct signal.
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Account Types and Minimum Deposit


Pocket Option offers seven account types, catering to traders of varying experience levels and investment capacities. The accounts range from:

Novice Trader account - requires a minimum balance of just $5

Basic Trader account

Silver Trader account

Gold Trader account

Platinum Trader account

Diamond Trader account

VIP Trader account

This wide range of account types, offered by Infinite Trade LLC, allows traders to choose an account that best suits their trading needs and financial capabilities.

With a minimum deposited price of just $5, Pocket Option proves to be an accessible platform for traders across all levels. However, to qualify for the bonus offers, a minimum deposit of $50 is required.

Regulation and Security


Pocket Option is licensed by the Mwali International Service Authority (MISA) but lacks regulation from prominent agencies like the SEC or FCA. This factor may raise concerns about the reliability and security of the platform for some traders.

In fact, the Financial Conduct Authority (FCA) has issued a warning indicating that Pocket Option is not authorized to provide, promote, or offer financial services or products in the UK. This raises concerns about the extent of protection offered to traders, especially regarding their funds and trading activities.

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Pocket Option Fees and Commissions

One of the attractive aspects of Pocket Option is its fee structure. The platform does not impose fees or commissions on withdrawals and deposits, nor does it levy any commissions on trades. This fee-free structure can be quite appealing for traders looking to maximize their returns.

Understanding how Pocket Option generates its revenue is important. The broker reduces the payout rate when a user successfully executes trades. The payout ratio on Pocket Option can range from 60% to 95%, depending on the broker’s conditions and the trading instrument.

Pros and Cons of Trading with Pocket Option

Pocket Option offers several advantages including:

Access to diverse financial markets
A user-friendly trading platform
Strategies to protect profits and minimize risk
Promising profit-enhancing opportunities
High payouts

Availability in many countries, broadening its reach and user base.

Yet, trading with Pocket Option is not without potential hitches. User feedback points to challenges with withdrawals, price discrepancies, and alleged chart manipulations. Furthermore, the fact that Pocket Option is a non-regulated broker and has a mixed reputation in the industry could deter some traders. It’s also worth noting that Pocket Option may not be suitable for those with limited trading experience.

Social Trading and Copy Trading

Pocket Option takes trading to a social level with its unique features of social trading and copy trading. These features enable users to copy the trades of successful traders while customizing parameters and diversifying risks. This offers a unique avenue for traders to learn from experienced traders and potentially increase their profits.

On the Pocket Option platform, investors can:

Select one or more signal providers from the top traders and add them to their list

Use the “Stop Balance” function to set the funds level on the account when copying trades

Adjust the “Copy proportionally” parameter to adjust the parameters of the program when copying transactions in relation to the original one

These features enhance the copy trading experience on the platform.

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Binary Options Trading Strategies

Binary options are a kind of financial product in which you have two possible outcomes: winning or losing. It’s distinct from other similar products available in the market. They possess an expiration date, a strike price, and a predetermined payoff, setting them apart from conventional options which enable investors to adjust their position through trading the option prior to the expiration date.

Binary options trading can indeed be a profitable strategy, provided the binary options trader carries out comprehensive market research and formulates a solid trading plan. For beginners venturing into the binary options market, it is highly recommended to start with stocks or currencies, such as forex trading, before they trade binary options with traditional price targets.

Customer Support and User Reviews


In terms of customer support, Pocket Option offers a dedicated support team to assist traders through multiple channels. These include phone, email, and online chat. The average response time for Pocket Option customer support is within 24-48 hours, making it quite efficient in addressing trader queries and concerns.

Moreover, Pocket Option’s customer support covers a wide range of languages, including more than 24. This ensures that traders around the globe can receive assistance in their native language, enhancing the overall user experience.

Positive Reviews

Many users have lauded Pocket Option for its extensive asset selection, high payouts, and numerous deposit and withdrawal methods, including e-wallets and crypto. The platform’s user-friendly interface also receives considerable praise, offering accessibility to traders of all levels.

In terms of withdrawal processing, user reviews indicate a wide range. While some users have reported receiving their funds within seconds, others have stated that it took several business days to withdraw money. Nonetheless, the speed of withdrawals remains one of the praised aspects of Pocket Option.

The website binaryoptions.com rates Pocket Option with 5/5 stars, clearly indicating that Pocket Option is the best choice for traders looking for a reliable and trustworthy broker.

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Negative Reviews


On the flip side, Pocket Option has received its fair share of criticism from users. Common issues reported include difficulties with withdrawals, price discrepancies, and alleged chart manipulations. These negative experiences have, understandably, resulted in some users questioning the platform’s reliability and fairness.

Some customers have also voiced discontent about Pocket Option’s sales tactics, with reports of aggressive marketing strategies and high-pressure sign-up tactics adding to the platform’s mixed reputation.

Comparing Pocket Option to Other Brokers

Within the fiercely competitive binary options brokers’ landscape, Pocket Option competes with major players like IQ Option, Olymp Trade, and Binomo. These brokers vary in terms of minimum deposit amounts, trading conditions, and fee structures. While some brokers require an account minimum of $100 or more, others, like Pocket Option, enable traders to start trading with a minimum of just $5.

Fees associated with trading on Pocket Option are also competitive compared to other binary options brokers, providing traders with favorable terms for trading. However, in terms of regulatory status, Pocket Option falls short, lacking licenses from reputable regulators like the US, EU, or UK. This lack of regulation may deter some traders, emphasizing the importance of conducting thorough research before choosing a broker.

Tips for Successful Binary Options Trading

Success in binary options trading requires certain practices. These encompass comprehensive and independent market research, maintaining focus, and devising a trading plan. These practices can help traders make informed decisions and increase their chances of successful trades.

For beginners, a demo account provides a valuable, risk-free environment for practice and learning. This allows traders to become acquainted with the platform, explore different trading strategies, and gain experience in making trades without incurring any real-money risks.

Conversely, experienced traders usually approach binary options trading by devising a detailed trading strategy, performing extensive market research, and employing proven successful strategies based on their personal experience.

Summary

In essence, Pocket Option offers a wide range of features and trading conditions that can appeal to various types of traders. However, it’s essential to be aware of the potential risks and limitations, including low regulation and potential withdrawal issues. By conducting thorough research and making informed decisions, traders can maximize their returns and navigate the world of binary options trading successfully.

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Frequently Asked Questions

Is it safe to use Pocket Option?

Pocket Option is regulated by the IFMRRC and has over ten million customers, suggesting that it is a safe platform to use. Its longevity further supports this conclusion.

Can you actually withdraw money from pocket option?

Yes, you can withdraw money from Pocket Option by sending a request for withdrawal by bank wire transfer to your bank account.

Is pocket option legal in US?

Pocket Option is not legal in the US, as it is regulated and does not offer services to clients from the US, UK, Europe and India.

Is pocket option legit?

PocketOption is indeed a legitimate trading platform, although it may come with several disadvantages compared to other options.

What is the minimum deposit required for Pocket Option?

The minimum deposit required for Pocket Option is $5.

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