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Is Pocket Option Reliable or a Scam?

Have you come across a Facebook or Telegram pamphlet? Which goes to achieve fantastic profits from the PocketOption platform as soon as possible.

Curiosity piqued and you want to know the truth about Pocket Option trading company? Do not worry, you are in the right place, as our article today will review the PocketOption platform for trading binary options, with a review of the advantages and disadvantages.

First, it must be noted that binary options contracts are bets on price movement and not an investment, so they are considered high profits and risks at the same time.

This is confirmed by statistics indicating that more than 79% of traders lose their first deals on the Binary Options platforms, but this does not mean that there is an opportunity to make good and quick profits if experience is gained and appropriate strategies are used.

Pocket Option
Pocket Option

Our team is professional and has previously completed many reports and reviews about the most famous trading platforms in the world, which you can view in the investment section of the blog. Also, I would like to warn you against trusting most of the youtubers traders, who share unreal or achieved profits only on demo accounts. 

Pocket Option Explanation and Review: Is Pocket Option Reliable or a Scam?

Our team explained and reviewed the Pocket Option trading platform, while placing it under an audit microscope, to help you reveal the truth and credibility of Pocket Option while avoiding beginners' mistakes.

What is Pocket Option? Introduction sheet

Pocket Option has been active in the field of trading for years, and exactly since its official launch in 2017 by a group of experts and professionals in binary options contracts.

Currently, the Pocket Option platform belongs to the ownership of the holding company Gembell Limited, which is officially registered in the Marshall Islands located near Australia.

It is normal that all trading and betting companies register their activities in tax havens, especially the Caribbean islands, in order to pay lower taxes and avoid censorship as much as possible. 

Explanation and review of the Pocket Option trading platform

Pocket Option has a good reputation among binary options traders, as it provides live indicators with professional, easy-to-use charts. It also supports a variety of assets, which gives the right margin to maneuver and try several strategies simultaneously.

PocketOption also does not impose any restrictions on the geographical distribution or the payment methods used, and therefore it is considered one of the appropriate options for some countries that suffer from banning the rest of the appropriate platforms.

The platform also supports payments and withdrawals using digital currencies, which ensures privacy while avoiding paying taxes on the profits made.

The great thing is that it offers a good deposit bonus of up to 50% according to the value of the initial investment amount, and it also organizes periodic tournaments and competitions with large cash prizes.

These factors make Pocket Option well-deservedly ratedThe best binary options trading platforms in the world , which the site team has previously reviewed in a separate guide.

Personally, I advise you to allocate some minutes of your time to browse through the guide, which will help you to learn about alternative professional options such as the Quotex platform while avoiding scam trading companies.

Everyone who has experienced trading knows that no trading platform is perfect, so Pocket Option is no exception. The most prominent arrows of criticism directed at the platform focus on its lack of any official regulation, which is the point that it shares with most of the competing platforms.

The site team has previously prepared a guide on explaining binary options , in which we touched on part of the binary options platforms' lack of formal regulation, which is mainly due to financial factors. It is true that the platform claims to have a third party licenseIFMRRCUnfortunately, it was issued by an unofficial institution and has no value at all.

There is also strong criticism of Pocket Option's strict policy in banning the use of trading bots or copying trades despite its support for social trading, which features are preferred by some traders. Another note is that the use of the Meta Trader 5 application is not allowed until after upgrading the account and depositing at least $1,000.

Advantages

  • Easy to use platform
  • Support for a variety of assets
  • A professional chart that provides all the indicators
  • Support all countries
  • Deposit bonus is good
  • Pay with digital currencies
  • Allow social trading and copy trades

Defects

  • Not formally organized
  • Customer service is relatively slow
  • Trading bots are not allowed
  • Meta Trader 5 cannot be used for standard accounts

The most important tips for making profits from the Pocket Option trading platform?

Success in binary options trading is not a coincidence, but rather the result of good learning and understanding how the platforms work in practice. Also, many tips must be adhered to, which we summarize in the following points:

  • Documenting the account with official and approved identity documents.
  • Deposit a decent initial amount to gain the trust of the platform.
  • Adhering to the terms of use and not violating them.
  • Open multiple trades to keep the account active.
  • Experiment with several winning strategies.
  • Avoid asking for quick withdrawal of profits, but rather trading at least for two weeks.
  • Use the same deposit method for withdrawal to avoid account re-auditing.
  • Take advantage of the deposit bonus to ensure sufficient liquidity to diversify deals.
  • Avoid copying deals and recommendations from suspicious places.

Deposit requirements on the Pocket Option platform?

The Pocket Option platform does not impose unfair restrictions on the size of the initial deposit, which starts from $ 5, depending on the type of account.

Also, the deposit bonus on the PocketOption platform varies according to the type of account and the size of the amount, but it may reach up to 50%. Also, a minimum value is approved for opening each type of account separately, so you must read the conditions for each account before depositing.

I would like to remind you that profiting from binary options trading requires large investments and entering into dozens of deals, so it is better to deposit a decent amount while taking advantage of the bonus.

This will ensure that you get the respect of the support service and treat you as a professional, as well as access to additional benefits that are not available in front of regular accounts.

The most important problems that traders face on the Pocket Option platform

The trading experience on the PocketOption platform differs from one user to another, but this does not mean that traders do not face some problems, which can be summarized as follows:

  • Account ban for several reasons, most notably using trading bots, forging identity verification documents or using a different method to withdraw profits.
  • Meta Trader 5 is not available for standard accounts.
  • Problems with the speed of executing orders from time to time, but they are not uncommon.
  • Customer service for standard accounts is relatively slow to respond. 
  • Account verification may take a long time for some specific countries.

Trading binary options is a good area for achieving some good profits, but it remains a high-risk investment, so it is preferable to professionalize trading forex or stocks with medium and long-term returns.

You can read our article about the best forex trading brokers , in which we explained reliable companies to ensure trading in the best conditions while paying the lowest possible fees.

Conclusion:

The PocketOption platform is not much different from the rest of the competing binary options trading platforms, despite its uniqueness with some additional and exclusive advantages.

Also, Pocket Options has its own immoral ways of making money, which a simple trader often becomes a victim of, but this does not preclude a good opportunity to make a profit from opening deals and betting on price trends on the platform. Personally, I see that PocketOption is a reliable option for trading binary options, and there is no competitor for it other than the professional Quotex platform , which is far superior to it.

Now it is your turn to share with us your experience in trading on Pocket Option in all impartiality, as I am aware of the success of some and the failure of others while trading on the platform. Finally, do not hesitate to share your questions with the community of traders in the comments section below, which will be answered as soon as possible.

MITA SGTINF
By : MITA SGTINF
My name is Duc "JOSEF" Le and I work in Digital Marketing at Mageplaza and BlogAvada. Mageplaza offers a comprehensive collection of over 230 extensions that are designed to work seamlessly with the latest versions of Magento 2 (Adobe Commerce). Meanwhile, BlogAvada is a blog that serves as a platform for sharing information related to websites, mobile apps, e-commerce, digital marketing, and other related topics. I encourage you to visit our websites to learn more about what we have to offer.
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