Pocket Option Review 2020

Pocket Option Summary

Pocket Option is a CFD and Forex trading broker that started operations in 2017, headquartered in the Republic of Marshall Islands. This Forex broker provides more than 100+ different financial instruments and Pocket Option has gained a reputation as one of the best trading options brokers in the market.

This Pocket Option review will demonstrate the different features you will find and have access to, with Pocket Option.

Pocket Option is a Forex broker that is best known for its binary trading options, which is not common among other Forex brokers in the trading industry. This Forex trading broker offers one size for all trading accounts, the Live Account, which you can use across two different trading platforms. You can trade with more than 100+ financial instruments across four different financial markets. You can always learn how to use Pocket Option with its Demo Account and interact with other traders while you are social trading. The fees, trading, and non-trading are relatively low, compared to other Forex brokers in the industry.

Pocket Option Main Features
🛍️Established in:
2017
🛍️Headquarters:
Marshall Islands
⚖️Regulations:
IFMRRC
⚖️Country of regulation:
Marshall Islands
đź’°Minimum Deposit:
$50
🎮Platforms:
MT4 ; MT5
🎮Demo Account Available:
Yes
đź’±Leverage:
1:1000
đź’°Withdrawal fee amount:
$0
đź’°Inactivity Fee:
No

Pros

  • Regulated by the International Financial Market Relations Regulation Center (IFMRRC)
  • Low non-trading fees
  • No deposit or withdrawal fees required
  • Different trading platforms available
  • More than 100+ financial instruments available on four different financial markets
  • Demo Account provided
  • Social Trading available
  • Various means of communication with customer service
  • Customer service 24\7
  • Accepts clients from the US

Cons

  • One trading account available
  • Limited range of financial markets and instruments
  • IFMRRC is not an official financial regulator

Background

Pocket Option was founded in 2017, a relatively novice Forex trading broker, in the Marshall Islands. Pocket Option is currently owned and managed by Gembell Limited, which is registered in the Republic of the Marshall Islands with the registration number of 86967.

Safety & Regulation

Pocket Option is regulated by the International Financial Market Relations Regulation Center (IFMRRC) in the Marshall Islands. This Forex trading broker also applies the Know-Your-Customer policy and comply with the Anti-Money Laundering Policy to avoid and fraudulent misconduct.

This Pocket Option review will define the different safekeeping measures that are taken to protect client funds and personal information.

Is Pocket Option Safe?

Pocket Option is a safe and trustworthy Forex trading broker that values the protection of its client’s privacy. Pocket Option is regulated by the International Financial Market Relations Regulation Center (IFMRRC) in the Marshall Islands. In addition, this Forex trading broker complies with the Anti-Money Laundering Policy (AML) and applies the Know-Your-Customer Policy that protects any fraudulent misconduct to take place with the client’s personal information.

Pros

  • Regulated by the International Financial Market Relations Regulation Center (IFMRRC) in the Marshall Islands
  • Complies with the Anti-Money Laundering Policy (AML)
  • Applies The Know-Your-Customer Policy

Cons

  • The International Financial Market Relations Regulation Center (IFMRRC) in the Marshall Islands is not an official financial regulator

Regulation

Pocket Option is currently regulated by the International Financial Market Relations Regulation Center (IFMRRC) in the Marshall Islands. This Forex trading broker is an independent broker that is under the brand name of Gembell Limited. Gembell Limited is registered at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960 with the registration number 86967. Gembell Limited is regulated by IFMRRC (License number TSRF RU 0395 AA Vv0141).

Protection

Pocket Option is a trustworthy Forex and CFD broker that allows clients to protect their funds and personal information. This Forex broker complies with the Anti-Money Laundering Policy, along with the Know-Your-Customer Policy. In addition, all direct and indirect employees must conduct a training program on both Policies to be able to prevent any fraudulent misconduct.

Bonuses

Pocket Option offers a welcome bonus for newly registered traders with a 50% bonus as you make your first deposit. The 50% bonus is a welcoming start to your trading experience, but you have to consider that you cannot withdraw your bonus until you do a certain amount of trading. In addition, Pocket Option offers bonuses in the form of cash-backs and promo codes. Pocket Option strictly advocates rewarding loyal customers who are patient with trading.

Pocket Option Fees

Pocket Option offers no commission charged and no additional fees. This Forex broker has relatively low trading and non-trading fees, which is uncommon compared to other brokers in the trading industry.

This Pocket Option review will inform you of the different trading fees and non-trading fees you will be required to pay.

Trading Fees

Pocket Option does not charge any commission while trading in the Live Account, which means that you will not need to concern yourself with any commissions during trading. In addition, there are bonuses given to loyal Pocket Option members via cash backs and promo codes. Pocket Option enables you to get 1% of your trading volume via cashback. In terms of trading fees, you will be able to expect good payouts. As an example, you can expect a 93% on currency pairs.

Pros

  • No commission charged
  • Low trading fees
  • No deposit or withdrawal fee
  • No inactivity fee
  • Low non-trading fees

Cons

  • None

Non-Trading Fees

With Pocket Option, the non-trading fees do not exist and you will not have to concern yourself with any additional fees. Pocket Option does not require a withdrawal or deposit fee, which means you can freely deposit and withdraw funds without fees. As for the inactivity fee, you will not be required to pay a fee if you are inactive for a period of time. This also applies to the account fees, which is a fee that is required to maintain your trading account.

Leverage

With Pocket Option, you will not have a specific leverage level that you will not to abide by. You will be able to reach a maximum leverage level up to 1:1000. This is considered a high maximum leverage level, compared to other Forex brokers.

Deposit Fees and Withdrawal Fees
Deposit Fees 0USD
Withdrawal Fees 0USD

Pocket Option Fees Compared To Competitors
Pocket Option  BDSwiss  HotForex 
Account Fee No No No
Inactivity Fee No Yes Yes
Deposit Fee 0USD 0USD 0USD
Withdrawal Fee 0USD 0USD 0USD

Account Opening

The Live Account for Pocket Option is a one-size-fits-all type of trading account. Both novice traders and experienced traders can use the Live Account without complication. However, it is a drawback that there is only one trading account available for you to use, rather than the option of choosing from several trading accounts.

This Pocket Option review will demonstrate on how to open a Live Account with a step-by-step guide.

Pros

  • Fast account opening process
  • Easy to navigate the trading account
  • Features for expert traders and novice traders are available
  • Low minimum deposit required
  • Low minimum withdrawal required

Cons

  • Only one trading account available

Minimum Deposit

The minimum deposit for the Live Account is 50USD, which is relatively low, compared to other Forex brokers in the trading industry. As for the minimum withdrawal, you will be required to make a withdrawal of at least 10USD to start trading with Pocket Option.

Live Account

The Live Account is the only trading account that is offered by Pocket Option. You will be required to make a minimum deposit of 50USD and a minimum withdrawal of 10USD. There is only one base currency, which is the USD. You will have a maximum leverage level up to 1:1000 and a $1 minimum on trades. In addition, you have the option of starting with a Demo Account and upgrading to the Live Account without having to make any changes.

How To Open a Pocket Option Trading Account

Step One: Fill in the online application with your email and the password for your trading account

Pocket Option Step -1

Step One: Fill in the online application with your email and the password for your trading account

Step Two: Make a deposit by choosing your preferred payment method and your profile level.

Pocket Option Step -2

Step Two: Make a deposit by choosing your preferred payment method and your profile level.

Deposit & Withdrawal

With Pocket Option, you will be able to deposit funds into your trading account and withdrawing funds from your trading account, free of charge. You will be able to choose from several methods of payment, such as: electronic wallet, debit\\credit card, and bank transfer.

This Pocket Option review will provide you with the different payment options you can use.

Account Base Currencies

With Pocket Option, there is only one account base currency available for your trading account: USD. This means you can add funds and withdraw funds from your trading account in US Dollars, and not with any other currency.

USD

Deposits

Pocket Option does not require a deposit fee, which means that you can deposit funds into your trading account for free. You can be able to deposit funds via debit\credit card, bank transfers, and electronic wallet. The deposit process is a fast one that will take approximately 1-2 business days. The minimum deposit required for the Live Account is 50USD, which is considered as low. However, the downside is that you can only make deposits in USD, since it is the only base currency available with Pocket Option.

Pros

  • Fast deposit process
  • Various deposit methods
  • No deposit method
  • Low minimum deposit

Cons

  • None

Pocket Option Deposit Options

  • Debit\Credit Card
  • Bank Transfer
  • Electronic Wallet

Withdrawal

Pocket Option has free withdrawals, which means that you can make withdrawals without having to pay an additional charge. You will be able to withdraw funds from your trading account in several different methods, such as: debit\\credit card, bank transfers, and electronic wallet. The withdrawal process is fast response, where you will receive your funds in about 24 hours. The minimum withdrawal required for the Live Account is 10USD, which is lower than most Forex brokers. However, the downside is that you can only make withdrawals in USD, since it is the only base currency available with Pocket Option.

Pros

  • No withdrawal fee
  • Low withdrawal deposit
  • Different withdrawal methods
  • Fast process time for withdrawals

Cons

  • None

Pocket Option Withdrawal Options

  • Debit\Credit Card
  • Bank Transfer
  • Electronic Wallet

Trading Platforms

Pocket Option provides two trading platform for traders to use: MetaTrader4 and MetaTrader5. You will find that there are several languages on the trading platforms available for all traders to choose from.

This Pocket Option review will use the MetaTrader4 platform as an example of analyzing the trading platforms of this Forex broker.

  • MetaTrader4
  • MetaTrader5

Web Trading Platform

With Pocket Option MetaTrader4 platform, you will find the basic order types. The five basic order types are: market, limit, stop, good-til-cancelled (GTC), and good-til-time (GTT). These order types are the basic orders needed to make a trade.

The MetaTrader4 web trading platform does not allow any price alerts or notifications; however, you will be able to do so on the desktop trading platform. You will be able to view your transaction history and your past trading performance with a clear fee report. In terms of security, you will only have the option of a one-step login without additional verification.

Pros

  • Several languages available
  • Clear portfolio and fee reports available
  • Customized indicators
  • Basic order types available

Cons

  • Only one-step login process
  • Outdated design
  • No alerts and notifications

Desktop Trading Platform

The Pocket Option MetaTrader4 desktop trading platform is similar to the web trading platform. You will find the five basic order types that is required for trading; these trading orders are: market, limit, stop, good-til-cancelled (GTC), and good-til-time (GTT).

The MetaTrader4 desktop trading platform allows you to set price alerts and notifications, in the form of push notifications. You will also be able to look through your transaction history and trading performances. However, the downside of the desktop trading platform is that there are no additional verification methods to add an extra layer of protection while logging in. The MT4 desktop trading platform also has an outdated design that makes it hard to navigate.

Pros

  • Several languages available on the platform
  • Sets notifications and price alerts
  • Basic order types available
  • Customized indicators
  • Clear fee reports and performance history

Cons

  • Outdated design
  • One-step login process

Mobile Trading Platform

The MetaTrader4 mobile trading platform is similar to the web trading platform and the desktop trading platform, in terms of basic order types. You will have access to the five basic order types, which you will need to trade. The five basic trading orders are: market, limit, stop, good-til-cancelled (GTC), and good-til-time (GTT). The mobile application of MetaTrader4 offers great design and user-friendly interface that makes it easy to navigate.

You will be able to set price alerts and notifications, in the form of mobile notifications. Traders will be able to use the mobile application in several languages, which is a great feature. You will not be able to rely on additional protection on your login credentials. Traders also cannot access fingerprint or facial recognition as a form of logging in.

Pros

  • Quality design
  • User-friendly
  • Basic order types
  • Several languages available on application
  • Set price alerts and notifications

Cons

  • One-step login process
  • No fingerprint or facial recognition

Markets Financial Instruments

Pocket Option is a Forex broker that offers binary trading options that allows you to trade with high payouts. You will have access to four different financial markets and trade with more than 100+ financial instruments.

This Pocket Option review will inform you on the different financial markets and financial instruments.  

What Pocket Option Offers
Forex Commodities
Stocks Cryptocurrencies

Markets Research & Trading Tools

Pocket Option provides market research materials and trading tools that will enhance your trading knowledge and keep you entertained with your trading session. You will have the option of social trade and use trading signals as tools to enhance your trading strategies.

This Pocket Option review will demonstrate the different trading tools and market research materials available for you.

Trading Tools

Pocket Option provides two different trading tools that will allow you to enhance your trading strategies and interact with other trades, exchange trading ideas, and strategies. Both trading tools are essential to trading and your ability to make accurate trading decisions.

With Pocket Option, you will be able to reach other traders and interact with the trading community. The social trading application opens for traders a world of communication and interaction, where you can share your trading strategies and tips to enhance your trading decisions. As for the Trading Signals, this trading tool allows you to look through predictions of future trading sessions. You will also be able to duplicate other traders’ strategies as your own, without having to develop your own trading strategies.

Pocket Option Tools
Trading Signals Social Trading

Pros

  • Social trading available
  • Trading signals provide patterns
  • Trading tools are free

Cons

  • Limited range of trading tools

Market Research

Pocket Option offers different Tournaments, Achievements, and prizes for you to be able to generate profit in an entertaining way. You can join Tournaments and win gems that will unlock different features that will help you while you trade. In addition, you can even win prizes in the form of cash backs and promo codes that will generate profit for you.

Pros

  • Tournaments and achievements to generate more profit
  • Entertaining ways to trade
  • Prizes are cash backs or promo codes

Cons

  • No materials to keep you updated on the trading world

Customer Service

Pocket Option has one of the best customer services available in the trading industry. This Forex broker provides different means of communication and allows you to reach them 24\7, without breaks in the weekend.

This Pocket Option review will provide you with a list of means of communication of how to reach the Pocket Option customer service.

Pocket Option allows you to communicate with the customer service department in several ways, You will be able to send an email, make a phone call to their local line, reach their support desk, or send a message via message forum. The customer service for Pocket Option responds at a timely manner, no less than 2-5 minutes, and you will find the accommodating providing you with relevant answers you need when you are faced with an issue.

Pros

  • Available 24\7
  • Several means of communication provided
  • Fast response time
  • Accurate responses to client questions

Cons

  • None

Means Of Communication

  • Email support
  • Phone support
  • Support Desk
  • Message Forum

The customer service of Pocket Option has improved the overall trading experience of clients. Most Forex brokers do not offer the option of having customer service support 24 hours a day, 7 days a week. However, Pocket Option realizes the urgency of trading and the frustration of having to wait for the weekend to be over to be able to reach the customer service and decided to eliminate that aspect in Pocket Option.

Client Education

With Pocket Option, you will find all of the options for client education resources. You can watch, read, and experience the educational materials, whichever is better for you as a learning tool. Pocket Option offers video tutorials, e-books, trading strategies, and a Demo Account.

This Pocket Option review will demonstrate a step-by-step guide on how to open a Pocket Option Demo Account.

Pros

  • Provides visual aid
  • High-quality videos for tutorials
  • Trading Strategies provide tips
  • Free and unlimited Demo Account

Cons

  • Resources only available to Pocket Option members

Pocket Option offers tutorial videos on how to trade and how to use the different trading platforms available. You will find e-books that offer information on basic trading topics that you may not know about. As for the Trading Strategies, the trading tips available and trading strategies already provided will educate you on how to develop your own strategy with minimal financial risk. The Demo Account is a free and unlimited hands-on approach that comes highly recommended. You will be able to trade up to 10,000USD of virtual funds in real time and real market conditions. In addition, you can always transfer your Demo Account to a Live Account, all you have to do is make the minimum deposit required.

Client Education Resources

  • Videos
  • Tutorials
  • E-Books
  • Trading Strategies
  • Demo Account

How To Open a Demo Account

Step One: Click on the “Start With One Click” tab on the Pocket Option website

Pocket Option Demo Step 1

Step One: Click on the “Start With One Click” tab on the Pocket Option website

Step Two: Start Trading!

Pocket Option Demo Step -1

Step Two: Start Trading!

Conclusion

Pocket Option is a CFD and Forex trading broker that started operations in 2017, headquartered in the Republic of Marshall Islands. This Forex broker provides more than 100+ different financial instruments and Pocket Option has gained the reputation as one of the best trading options brokers in the market.

Overall, Pocket Option is regulated by the International Financial Market Relations Regulation Center (IFMRRC) in the Marshall Islands. This Forex trading broker also applies the Know-Your-Customer policy and comply with the Anti-Money Laundering Policy to avoid and fraudulent misconduct. Pocket Option is a trustworthy Forex broker that you should consider trading with.

pocket-option-logo
$50
Min. Deposit
100%
Bonus
Regulated byIFMRRC
Leverage1:1000
Customer Support24/5
Open Account

Pocket Option Overall Performance

  • Safety and Regulation 98% 98%
  • Deposit and Withdrawal 98% 98%
  • Market Research & Trading Tools 97% 97%
  • Broker Fees 98% 98%
  • Trading Platforms 97% 97%
  • Customer Service 99% 99%
  • Account Opening 98% 98%
  • Market & Financial Instruments 97% 97%
  • Client Education 99% 99%

Frequently Asked Questions

Is Pocket Option A Good Broker?

Pocket Option is a Forex broker that is best known for its binary trading options, which is not common among other Forex brokers in the trading industry. This Forex trading broker offers one size for all trading account, the Live Account, which you can use across two different trading platforms. You can trade with more than 100+ financial instruments across four different financial markets. You can always learn how to use Pocket Option with its Demo Account and interact with other traders while you are social trading. The fees, trading and non-trading, are relatively low, compared to other Forex brokers in the industry.

Is Pocket Option Legit?

Pocket Option is a legitimate Forex and CFD broker that allows clients to protect their funds and personal information. This Forex broker complies with the Anti-Money Laundering Policy, along with the Know-Your-Customer Policy. In addition, all direct and indirect employees must conduct a training program on both Policies to be able to prevent any fraudulent misconduct.

How Long Do Pocket Option Withdrawals Take?

Pocket Option withdrawals take about 24 hours.

Is Pocket Option Regulated?

Pocket Option is currently regulated by the International Financial Market Relations Regulation Center (IFMRRC) in the Marshall Islands. This Forex trading broker is an independent broker that is under the brand name of Gembell Limited. Gembell Limited is registered at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960 with the registration number 86967. Gembell Limited is regulated by IFMRRC (License number TSRF RU 0395 AA Vv0141)

What Is The Minimum Deposit For Pocket Option?

The minimum deposit for Pocket Option is 50USD or its currency equivalent, to open a

Is Pocket Option An ECN Broker?

Yes, Pocket Option is an ECN Broker.

Is Pocket Option Safe?

Pocket Option is a safe and trustworthy Forex trading broker that values the protection of its client’s privacy. Pocket Option is regulated by the International Financial Market Relations Regulation Center (IFMRRC) in the Marshall Islands. In addition, this Forex trading broker complies with the Anti-Money Laundering Policy (AML) and applies the Know-Your-Customer Policy that protects any fraudulent misconduct to take place with the client’s personal information.