Pocket Option review and ratings

Company information

Pocket Option is a legally registered binary options broker located in the Marshall Islands, but not regulated by any government agency.

Still, the company is also a member of the IFMRRC, a non-commercial dispute resolution organisation.

Availability

Pocket Option accepts clients from all over the world, excluding some countries where restrictions apply.

Distinctive features

• Simple registration and verification process.
• Various binary options available for trading.
• Own specific binary Social Trading Network.
• Cryptocurrency funding accepted.

Trading instruments

Binary options broker offers the following underlying assets for trading.

Comprehensive review

Pocket Option is an unregulated offshore-based binary options & forex broker with its registered office located in the Marshall Islands. The company is registered with a private organization known as the International Financial Market Relations Regulation Center (IFMRRC), but it is important to note that this does not make the broker regulated in any way. As always, it is highly recommended for everyone to do their own due diligence before depositing money with unregulated offshore brokers, or with any brokers for that matter.

In terms of underlying assets available for binary options trading, Pocket Option has most traders covered with its selection of 30+ forex pairs, a handful of popular cryptocurrency pairs, gold, silver, and oil. In addition, the broker also offers single stocks from a number of US-listed companies, as well as a range of currency pairs for traditional forex trading.

An interesting thing to note is also that the broker offers variable leverage for those who prefer to trade forex in the traditional way, with available leverage ranging from 1:1 all the way up to 1:1,000. Unfortunately, the minimum amount of capital necessary to trade forex in the traditional way with Pocket Option remains quite high at USD 1,000, or the equivalent in another currency.

As far as the trading experience is concerned, Pocket Option’s clients will have access to a nice and user friendly platform for trading binary options. The platform is easy enough to use even for beginners, while still giving access to many advanced technical indicators, five different chart types, and time frames ranging from 5 seconds to 1 day. The platform also has certain “social trading” features that lets users interact with each other as they trade. All account actions, such as deposits and withdrawals, can also conveniently be performed from within the platform.

In addition to this in-house web platform, however, Pocket Option also offers traditional forex trading on the classic MetaTrader 5 (MT5) platform for those who prefer that. MT5 is obviously a bit more advanced than the web-based binary options platform, and also gives access to many more indicators and trading algorithms (“Expert Advisors”) than almost any proprietary web platform does. However, it’s also important to note that having access to advanced tools is more important in traditional forex trading than it is in binary options trading, given the more complex nature of this type of trading.

All trading accounts can be funded with either major credit & debit cards, bank wire transfers, e-wallet services like Perfect Money, WebMoney, Advcash, and Payeer, as well as with a range of cryptocurrencies, including bitcoin, litecoin, and ethereum.

As all brokers do, Pocket Option also has a customer service team that is ready to answer any queries from clients. The team can be reached via the live chat function that is integrated with the web trading platform. In addition, support can also be reached via email and a UK-registered phone number that is open between 8 AM and 4 PM UTC time.

In summary, it’s safe to say that Pocket Option is one of the brokers that are trying hard to keep their traditional brokerage and binary options brokerage business open despite many crackdowns on the binary options industry in jurisdictions such as the US, EU, and Japan.

Despite these restrictions, however, it is still possible to offer binary options trading offshore, which is what Pocket Option is taking advantage of. Whether it is safe to trade with such a broker or not is another question, and it remains very important to do your own research before depositing funds with any offshore brokers. It’s also important to be aware that in the event of a dispute with such a broker, there is no regulatory authority to turn to for help.