Pocket Option Review 2023: Features & Alternatives

Bizreport - Bailey Schramm
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Reviewed by Kristina Knight, Journalist , BA
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Pocket Option
Editor Rating:
4.9
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Our references are based on the analysis and synthesis philosophy, which are conducted by a team of experienced and well-qualified researchers.

  • Cost Value
  • Customer Service
  • Ease of Use
  • Included Features

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Pocket Option is a platform that supports binary options trading. It is an unregulated broker that focuses on professional traders who already have a good trading skills and an understanding of the space and how the binary options market works. 

Pros

  • Low minimum first deposit
  • Generates passive income

Cons

  • No high-quality training available
  • Not licensed by a reputable regulator
  • Accrued bonuses can expire
  • Slow withdrawal procedure
  • Reliable broker for options trading
  • Demo account available
  • Pocket Option Mobile App
  • No sign up commitment
  • Founded in 2017
  • Offshore-based in the Marshall Islands
  • Backed by Gembell Limited Holding Co.
Pocket Option Review

Pocket Option is part of the Gembell Limited Holding company, focusing on making it clear and simple to trade options. The group was founded by professionals who have years of experience in trading and investing. 

They offer great services on the mass market and have an FMRRC certificate, meaning they focus on quality and OTC market access for all who are interested. Overall, they want to provide a stable environment for traders and investors who want to take advantage of the upward potential of trading options. 

Pocket Option also offers bonus offers and a profitable affiliate program to its users, aside from its social trading platform. Plus, they have a very user-friendly trading platform that’s widely available since it’s translated into over 22 languages. 

Continue reading through this Pocket Option review as we showcase what makes it a unique trading platform, and how you can use it to access the binary options market.

Pocket Option Advantages

Let’s take a look at some of the main draws of using Pocket Option’s platform for binary options brokers. 

Minimum Deposit

One of the great benefits of using Pocket Option’s website is that there is a low minimum deposit required to start trading on their site–just $5. Other brokers will require you to make a large minimum deposit to start trading, though Pocket Option makes it highly accessible for people to trade binary options with low amounts of capital. The platform includes all of the standard payment methods.

Social Trading

The social trading aspect of Pocket Option allows traders to track and copy the trades from other traders around the world within 10 seconds of their execution. This allows users with any type of account to replicate winning strategies for themselves. There are many functionalities with this social trading feature that allows binary options traders to specialize the trades for their own needs. 

Once a trader makes a profitable trade, they can also broadcast their trading signals to others on Pocket Option. 

Demo Account

Pocket Option Review

While Pocket Option is a great choice for the most experienced traders’ deals, there is still a learning element that newer investors can enjoy with the free demo account functionality and trading with virtual money. 

Instead of investing real money, this allows traders to practice trading and trying out new strategies before going live with them in a real account. With this, you can explore the functionalities of the site without actually losing any money during the process. So even if you aren’t the most seasoned with binary options trading, you can still get to know the site and hone your skills with a free demo account on the Pocket Option platform before opening a live account. 

Tournaments, Contests, and Offers for Clients

Pocket Option is a highly interactive site, making it fun and interesting compared to other trading platforms. Customers can earn bonuses through tournaments, contests, and other offers in order to boost their earnings and find new ways to monetize their assets. 

Payouts

Another great benefit is the payouts Pocket Option has, which are some of the high payouts paid to users’ bank accounts. With this, the company’s clients are paid up to 92%, taking little for fees and other costs. Plus, users can also earn a payout percentage bonus for extra ways to earn. 

No Commission On Deposits & Withdrawal

Pocket Option is a great choice because users don’t pay a commission on deposits or withdrawals. So, there are no hidden trading fees to deposit money to replenish your account or when withdrawing funds from it. All your funds will be accessible to you at no additional cost.

Pocket Option Account Types

Now we can take a look at the different trading account types that are available on the Pocket Option website.

Pocket Option Novice Trader Account

This account is good for beginners and supports traders with a balance of less than $100. There is also a transaction limit of no more than $1,000. 

Pocket Option Experienced Trader Account

The next level up is the Experienced Trader Account, with a starting balance of $1,000 and access to a wider option for market positionings. Plus, there is an option to improve your profitability. 

Pocket Option Master Trader Account

With a Master Trader Account, there is a 4% boost in profitability possible, and the initial deposit must be $5,000 at least. There are other additional perks to having this account, though the most that can be spent on a single trade is $2,000. 

Pocket Option Professional Trader Account

Other brokers may want the Professional Trader Account, which has a minimum initial deposit of $15,000, and a 6% lift in profitability. There is a $3,000 cap for what can be spent on a single transaction, and other prioritized features as well. 

Pocket Option Expert Trader Account

There are trading advantages to having an Expert Trader Account. This is typically used by professionals, requiring a minimum initial investment of $50,000 into the account. There is a rise in profitability of 8% for account users, among other perks. Plus, there is a higher priority for money withdrawal requests, premium gifts, and personal discounts. 

Pocket Option MT5 Forex Account

The MT5 Forex Account is eligible to users with at least $1,000 in their account. This allows users to trade foreign currencies and speculate on the markets outside of their demo account. 

Pocket Option Islamic Account

Pocket Option will automatically allow for Islamic Accounts of all types, meaning there is no separate sign-up process if you want an Islamic Account. So those who are of the Islamic faith and need to comply with Sharia law can simply select the swap-free option. This makes them exempt from certain interest or overnight fees.

Pocket Option Quick Overview

Let’s do a quick review as a reminder of the top features of using Pocket Option for binary options trading.

Pocket Option Review

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5.0 stars

Best Overall Value

  • Social trading platform
  • Low deposit minimum to start
  • Ability to create a demo account before a live account

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Pocket Option Customer Reviews

The Pocket Option platform has garnered a lot of interest from those who want to begin trading funds on a binary options platform. Let’s take a look at what some of their customers have to say about the trading platform on Trust Pilot.

I have been using pocket options for two years now and have had no major issues. Great payout percentage, fast and friendly customer service, a variety of pairs, stocks, commodities to trade from… Don’t follow the trend of lazy, unmotivated people who don’t put the real effort into learning how the market works…

Chris

Mediocre and UNRELIABLE company. When you start to make successful trades all of a sudden platform starts to freeze…

Walter

Would definitely recommend if you want to learn about trading, excellent platform for the road to making profits!

Brandon

Terribly weak company in terms of all possible services and technologies used. By his naivety and inexperience, he fell for it. Attractive conditions and other heresy pushed me to open a demo, and managers pushed me to open a real account. It did not end well for me, unfortunately, I lost money.

Rick

Pocket Option Service Review

Pocket Option Review

Review of Pocket Option

Overall Pricing and Value
98%
98%
Cost Value
98%
98%
Customer Support
95%
95%
Ease of Placing an Order
98%
98%
Included Features
100%
100%

Let’s take a final look at Pocket Option to see if it’s a good fit for you.

Is Pocket Option Right For You?

So is Pocket Option one of the best trading platforms for binary options brokers? Given the capabilities of the site and the vast array of different account types available, it’s a good fit for those who are more professionally trained and familiar with the financial markets. 

There aren’t a ton of educational materials or courses available on Pocket Option, though it is a reliable company with great analysis tools and trading instruments to help you make profitable trading when you know what you’re doing. 

Cost Value 

There is a low minimum deposit required to get started on Pocket Option’s site, which makes it cost-effective for other traders who don’t have a ton of capital to get started. Plus, there are high payout percentages and low commissions, meaning it does have great cost value for users. Pocket Option accepts many different payment methods as well, which makes it even more accessible to users all around the world. 

Customer Service

Many customer reviews point out poor customer service available to Pocket Option users. So if you will require a lot of assistance or quick service is important to you, you may want to select a different mobile trading platform for options trading. 

Ease of Use

Pocket Options is easy to use, though it is better reserved for professionals who are familiar with binary trading. But, as a binary options broker, it is generally user-friendly and offers additional ways for customers to earn on their trades with the social aspect. 

Additionally, there is a Pocket Option mobile trading app where you can simply make trades on your phone like many other mobile apps. 

Pocket Option Review

Included Features

There are many special features Pocket Option offers, especially its social trading features that allow you to replicate the successful trades of other top traders. Plus, the automated trading features allow you to set up triggers and signals to automatically act on a trade, even when you’re not directly on the platform. 

Overall

So even though they don’t have a lot of training or learning materials for newcomers, the demo trading capabilities mean you can try out different binary options trading types for free with the demo account button. Plus, the low minimum withdrawal and deposit requirements mean it’s accessible to people no matter what amount of capital they have.

2 Top Pocket Option Alternatives

QuotexCX MarketsPocket Option
Minimum Deposit$10$0$5
Ranking4.7/54.5/55/5
DetailRead Review Read Review Read Review
Link

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Quotex

QUOTEX is a broker that offers binary options trading like Pocket Option. It’s a newer company, only being in operation since 2019. However, clients can trade currencies, metals, oil, crypto, and stock indices and earn up to 90% profit on their options trading. 

CX Markets

CX Markets is a US-based designated contract market with products related to Forex and weather. It is a sister company of CX Clearinghouse and a subsidiary of Cantor Fitzgerald. Users can choose a specific market, like rain or snow, make predictions about the weather for a certain day, and earn if they are correct about the outcome. 

Read more: Top 10 Best Binary Options Brokers & Trading Platforms 2023

Conclusion

Pocket Option Review

By keeping up with market news and understanding the forces at play in the markets, you can take advantage of volatility and make profitable trades depending on where the markets are headed. With a minimum withdrawal amount that’s low, a large number of accounts available, and a presence around the world, there are many benefits to using Pocket Option.

Frequently Asked Questions (FAQs)

What is the International Financial Market Relations Regulation Center (IFMRRC)?

The IFMRRC is an independent organization that enforces the policy of openness for all market participants in the international currency exchange market, including crypto.

Is Pocket Option legal?

Yes, they are a legit company and one of the most trustworthy binary options brokers available. Plus, it is regulated by the IFMRRC.

What are currency pairings?

Currency pairs are the national currency of two countries that are linked up for trading within foreign markets. The main pairings are EUR/USD, USD/JPN, GBP/USD, and USD/CHF.

What is an asset price?

This is the price at which a stock, bond, or other investment is bought or sold.

What is a trading schedule?

Trading schedules are the primary trading hours and locations for a given asset. Some think of these as the typical business hours of a country. With a live account, you can be trading during these hours; some sites will limit how often trades can be made. These limitations can range from once per minute to a number of times in up to four hours. Some sites will also limit too many unsuccessful trades to your account.

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ABOUT THE AUTHOR

Bizreport - Bailey Schramm
Bailey Schramm, BS
Finance Advisor
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Bailey Schramm is a writer based out of Jackson Hole, WY, primarily covering topics and trends in financial services, business, and the blockchain. With a background covering stock market developments for a major FinTech company, she now provides SEO and content strategy services to financial service companies and tech startups.

ABOUT THE REVIEWER

Kristina Knight-1
Kristina Knight, Journalist , BA
Content Writer & Editor
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Kristina Knight is a freelance writer with more than 15 years of experience writing on varied topics. Kristina’s focus for the past 10 years has been the small business, online marketing, and banking sectors, however, she keeps things interesting by writing about her experiences as an adoptive mom, parenting, and education issues. Kristina’s work has appeared with BizReport.com, NBC News, Soaps.com, DisasterNewsNetwork, and many more publications.

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Bizreport Advisor adheres to strict editorial integrity standards avoids using tertiary references. We have strict sourcing guidelines and rely on peer-reviewed studies, academic research. To ensure the accuracy of articles in Bizreport, you can read more about the editorial process here.

  1. Pocket Option is rated “Great” with 4.2 / 5 on Trustpilot. Trustpilot. Accessed December 9, 2022. https://www.trustpilot.com/review/pocketoption.com
  2. Types of Brokerage Accounts | Investor.gov. www.investor.gov. Accessed December 9, 2022. https://www.investor.gov/introduction-investing/investing-basics/how-stock-markets-work/types-brokerage-accounts
  3. The Most Innovative Trading Platform. Pocketoption.com. Published 2018. Accessed December 9, 2022. https://pocketoption.com/en/
  4. Gembell Limited company Certificate of compliance. ifmrrc.com. Accessed December 9, 2022. https://ifmrrc.com/index.php?page=gembell_limited-2021
  5. Financial Market Relations Regulation Center. ifmrrc.com. Accessed December 9, 2022. https://ifmrrc.com/
  6. Quotex: An innovative platform for online investment. quotex.com. Accessed December 9, 2022. https://qxbroker.com/en
  7. CX Markets. CX Markets. Accessed December 9, 2022. https://trading.cxmarkets.com/