Pocket Option Review 2023
- Daytrading Review TeamWe recommend Pocket Option for aspiring binary options traders looking for copy trading services and a low minimum investment.
Founded in 2017, Pocket Option is a binary options broker offering up/down contracts on forex, stocks and cryptocurrencies. With over 100,000 active users and a global reach, the brand has proven popular with budding traders. Pocket Option also supports dozens of payment methods and has a low minimum trade of just $1.
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Pocket Option offers short term binary options on a user-friendly platform with competitive payouts of 90%+. Over 130 assets are available with fee-free deposits and withdrawals. Joining bonuses are also available to new users.
Binary and OTC options can be purchased on over 40 foreign exchange pairs. Typical payouts are also decent at 81% and users can trade forex binary options in just a couple of clicks.
Trade 30 of the most popular American multinational stocks including Microsoft and Google. Payouts on big brands come in at a decent 92% while indices are available up to 67%.
Pocket Option supports major cryptocurrencies on a beginner-friendly app. Over 10 leading cryptocurrencies are available with very high leverage up to 1:1000.
Pocket Option offers hassle-free copy trading. Simply choose from the broker's top ranked traders and mirror their positions in your own account. The copy trading service is available 24/7 and also hosts active community groups where you can chat with other traders.
Awards
- Best Binary Broker 2022 - DayTrading.com
✓ Pros
- Live signals
- Copy trading
- Turbo binary options
- 50+ payment methods
- MT5 iOS & Android app
- 92% payouts on binaries
- Cashback and achievements
- Multiple strategies supported
- Welcome bonuses and coupon codes
- Clients accepted from over 95 countries
- Trading tournaments and competitions
✗ Cons
- No MT4 trading platform
- Only one account type is available
- IFMRRC is not a reputable regulator
- The expiration time is limited on trades
Pocket Option is a derivatives broker with a global presence focusing on binary and OTC options for forex, stocks and cryptocurrencies. Our user review provides insights into average payouts, copy trading, demo accounts, minimum deposits, accepted payment methods, plus withdrawal fees.
Our expert analysis also unpacks the pros and cons of trading with Pocket Option, along with a tutorial that explains how to place trades on the platform and app.
Our experts found that Pocket Option, relative to other brands that only offer binary options, deliver a reliable trading platform, with great depth of assets and timeframes. The charting is also excellent.
Trading Platform
Pocket Option provides its own proprietary trading software.
The package integrates all the features and assets of the broker into one place, providing an easy-to-use trading solution that is great for beginners and veterans.
The trading platform boasts 14 timeframes, from 5 seconds to 1 day, 4 charting types, 31 technical indicators, 9 graphical tools, 4 simultaneous charts, copy trading, signals, social trading chat functionality, and account management.
Device Compatibility
The broker’s platform can be accessed in several ways:
- Web-based client embedded in the Pocket Option website
- Desktop software app that is free to download for Windows (inc. 10) and Mac computers
- Mobile app that is supported by iOS and Android devices
How To Place A Binary Options Trade
Opening a trade on the Pocket Option platform is straightforward:
- Choose an asset from the asset drop-down on the left-hand side of the terminal
- Using the trade order widget to the right of the chart, enter the trade parameters
- Choose an expiry time (5 seconds to 4 hours)
- Decide how much you want to invest ($1 to $1000)
- Review the potential payout (percentage and total)
- Click on ‘Higher’ if you think the price will rise
- Click on ‘Lower’ if you think the price will fall
Assets
Pocket Option offers binary options and OTC options trading on over 130 underlying assets, spread over four classes.
- Forex Pairs: The platform features over 40 forex pairs. These range from the classic major pairs such as USD/GBP, to minor and exotic pairs such as NZD/JPY.
- Commodities: Pocket Option offers several OTC (over-the-counter) commodities. These include gold, silver, platinum, UK Brent (oil) US Crude (oil), and natural gas.
- Stocks: Over 30 stocks are available, including gems such as Apple, Pfizer, HP and Google.
- Cryptocurrencies: The broker has 10 cryptocurrencies, including Bitcoin and Ethereum.
Fees & Payouts
As a binary options broker, Pocket Option does not charge any commissions or non-trading fees. Instead of a spread, the broker provides an expected payout for each asset, which guides you as to how much money you could make.
- Typical forex payouts are EUR/GBP – 81%, GBP/USD – 73% and USD/RUB – 92%
- Typical stock payouts are Netflix – 57%, McDonald’s – 77% and Microsoft – 71%
- Typical index payouts are US100 – 45%, S&P500 – 45%, and AUS200 – 67%
- Typical commodity payouts are oil – 80%, silver – 80%, and natural gas – 45%
- Cryptocurrencies usually have a rate of around 15% to 40%, these are lower due to the increased volatility
Leverage Explained
The maximum leverage on Pocket Option is 1:1000. That means that, if you put down $100, you can trade with up to $100,000.
Always be careful when using leverage, it can increase quick trading wins, but will also increase live trading losses.
Pocket Option Mobile App
The online broker has a mobile app that supports both APK and iOS devices and is available to download on the Apple App Store and Google Play.
The application is fully functional and glitch-free. It is user-friendly and has plenty of support, ideal for beginners who may need help learning how to use it.
Mobile traders also benefit from 24/7 access to the financial markets, live signals and copy trading, full account management, plus accurate quotes with zero delays or requotes.
A MetaTrader 5 (MT5) platform and app is also available upon registration.
Payment Methods
Deposits
Pocket Option supports 50+ payment solutions with near-instant account funding and zero fees.
Supported deposit options include debit and credit cards, wire transfers, and electronic payment solutions like Fasapay. Cryptocurrency transfers are also accepted.
The minimum deposit requirement is $50.
Withdrawals
Withdrawals can be made via the same methods as deposits.
When we used Pocket Option, there were no withdrawal fees.
The minimum withdrawal amount is $10 and there is no maximum withdrawal limit. Funds with proof are received within 24 hours in most cases.
Demo Account Review
Pocket Option offers a free demo account. Simply register for a profile, sign in with your login credentials and begin using the demo account.
The broker gives users $10,000 of virtual money to practise trading with. The paper trading account acts as a tutorial, giving you a chance to practise your trading skills without risking real money. If you lose all your money, the broker will boost your virtual funds at no cost to you.
Demo accounts are also a great tool to practise your strategy, be it 15 seconds, 2 minutes or zig zag. As there is no chance of real financial loss, you can make any strategy rookie errors with no risk.
Bonuses & Promotions
Pocket Option regularly runs bonus schemes, as well as publishing referral and promo codes.
Currently, if you deposit $100 or more you get a 50% bonus when using the code ‘1morechance’.
The brokerage automatically gifts the bonus to your account after registration and payment. The only bonus rules are that you cannot withdraw the funds until a specified number of trades are completed.
Pocket Option also regularly provides $50 no deposit bonus codes as an alternative to their deposit bonus.
These promo codes get you $50 to trade with on binary options upon opening your account. Simply complete the verification process and know-your-customer (KYC) protocol to receive the bonus.
Company Details
Pocket Option was founded in 2017 by a team of IT specialists and is managed by owner Gembell Limited.
The company is registered in and has its headquarters office in the Marshall Islands, where it is regulated by the International Financial Market Relations Regulation Centre (IFMRRC).
The binary options broker has over 100,000 active users and a trading turnover of over $500,000,000. The company caters to customers in over 95 countries and regions. Pocket Option support clients from Kenya to Indonesia, and the US to Germany – it is a truly global brand.
Traders can get started with a $50 minimum deposit and no commission fees. A welcome bonus is also available to new joiners.
Regulation & License
Pocket Option is regulated in the Marshall Islands by the International Financial Markets Relations Regulation Centre (IFMRRC).
While not being regulated by a well-known body such as the Cyprus Securities and Exchange Commission (CySEC) does cast some doubts, the broker complies with anti-money laundering (AML) policy and has proven itself to be trustworthy.
Additional Features
Pocket Option boasts a range of additional features that set it apart from competitors like IQ Option, Nadex, VideForex and IQCent:
- Education: Members receive access to a whole host of educational materials. These include visual aids, videos, tutorials, Ebooks and more.
- Robots: The broker allows robots, or bots, for automated trading. These are free to work on both demo and live accounts.
- Copy trading: Pocket Option allows copy trading and social trading. You can view top-ranked traders or search for specific traders to copy. There are copy trading reviews available for many different investors.
- Signals: The broker has an official signals bot. This bot will automatically send you updates or assets that it thinks you should open a position on.
- Tournaments: The broker’s tournaments allow you to compete against other traders and investors. See how your earnings stack up against theirs and earn rewards.
Account Types
At pocket Option, there is a one-size-fits-all live trading account. There are no gold, silver or bronze levels to the profile.
This account can be opened with a deposit of only $50 and, following verification time, traders can start investing in over 100 assets and financial instruments.
Trading Hours
The assets available at Pocket Option have different trading hours. These hours will also vary depending on your time zone.
For forex assets, the main session is from 21:00 UTC Sunday to 21:00 UTC Friday. Some OTC assets have different times, such as GBP/USD, which is also available over the weekend.
Cryptocurrency options have no fixed time and can be traded 24/7.
Customer Support
Pocket Option values customer service. Whether your deposit has failed or you are having withdrawal issues, you can get in contact with the online broker.
The company is reachable 24/7 via two methods:
- Phone Number: 1 (800) 982 – 1251
- Email: support@pocketoption.com
Customers can also contact Pocket Option via live chat on their website, as well as Instagram, Telegram, Facebook and other social media channels.
Safety & Security
Our experts found that Pocket Option could improve its security levels. No matter which trading platform or app you use, two-factor authentication is not possible. This could leave your account vulnerable to hacks and security breaches.
Pocket Option Verdict
Pocket Option is a top-rated binary options broker. The platform and app offer high payouts, low minimum deposits, plus joining bonuses for new traders. The free demo account and copy trading functionality will also appeal to beginners. And with 100+ underlying assets to choose from, account holders can speculate on stocks and shares, indices, forex pairs, and cryptos.
FAQs
Is Pocket Option A Scam Or Not?
Pocket Option is a registered and regulated company that complies with anti-money laundering and know-your-customer policies.
Is Pocket Option Legit?
Yes, it is legitimate. The company has received many positive reviews on sites such as Trustpilot, Reddit and Quora.
Is Pocket Option 24/7?
Some of the assets on Pocket Option are available 24/7. Cryptocurrencies and over-the-counter assets are 24/7, while the rest of the currency pairs follow the standard FX market times.
Where Is Pocket Option Regulated?
Pocket Option is registered in the Marshall Islands and regulated by the International Financial Market Relations Regulation Centre (IFMRRC).
Does Pocket Option Have A YouTube Account?
The broker posts a variety of helpful strategy videos to its free YouTube account. These cover 30 seconds to 3 minute best Pocket Option strategy tips, helping users to increase their net worth.
Is Pocket Option Legal In India?
Pocket Option is an offshore binary and OTC options broker, meaning traders in India, Nigeria, Malaysia, New Zealand, Europe, the USA and beyond can open an account. See our expert review of Pocket Option for a full list of available countries and restricted locations.
Accepted Countries
Pocket Option accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Payment Methods
- Wire Transfer
- Credit Card
- Bitcoin Payments
- ADVcash
- Perfect Money
- Visa
- Mastercard
- Debit Card
- WebMoney
- Western Union
- FasaPay
- PayRedeem
- Ethereum Payments
- Cashu
- JCB Card
- Skrill
- Yandex Money
- Neteller
- Doku Wallet
- Maestro
- Sofort
- GlobePay
- QIWI
Pocket Option Details
| Minimum Trade | $1 |
|---|---|
| Regulated By | IFMRRC |
| Islamic Account | No |
| Mobile Apps | iOS & Android |
| Margin Trading | Yes |
| Volatility Index | No |
| Spot Trading | Yes |
| Perpetual Swaps | No |
| ELWs | No |
| REITs | No |
| AI / Machine Learning | No |
| Robo Advisor | No |
| P2P Trading | No |
| Negative Balance Protection | No |
| VPS Hosting | No |
| Tournaments | Yes |
| Demo Competitions | No |
| Managed Accounts | No |
| Market Maker | No |
| Auto Trading | Yes |
| Social Trading | Yes |
| Trade Signals | Yes |
| Inactivity Fee | $0 |
| Guaranteed Stop Loss | No |
| Stock Exchanges |
|
| Commodities |
|
Forex Trading Details
| GBPUSD Spread | N/A |
|---|---|
| EURUSD Spread | N/A |
| EURGBP Spread | N/A |
| Assets | 50+ |
Cryptocurrency Trading Details
| Crypto Spread | N/A |
|---|---|
| Crypto Lending | No |
| Crypto Staking | No |
| Crypto Mining | No |
| Crypto Auto Market Maker | No |
| Crypto Coins |
|
Binary Options Trading Details
| Payout Percent | 92% |
|---|---|
| Expiry Times | 5 seconds – 4 hours |
| Ladder Options | No |
| Boundary Options | No |
Top 3 Alternatives to Pocket Option
Compare Pocket Option with the top 3 similar brokers that accept traders from your location.
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World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
Go to World Forex -
Videforex – Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
Go to Videforex -
RaceOption – RaceOption is a binary options broker operating from the Marshall Islands. With over 1,500 clients, the broker aims to offer fast funding, low fees and a secure trading environment. Traders can access over 100 binary options and CFDs, plus copy trading and weekly prizes.
Go to RaceOption
Pocket Option Comparison Table
| Pocket Option | World Forex | Videforex | RaceOption | |
|---|---|---|---|---|
| Rating | 4.2 | 4 | 3.6 | 3.5 |
| Markets | Binary Options, Currencies, Commodities, Stocks, Indices | Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts | Binary Options, CFDs, Forex, Indices, Commodities, Crypto | Binary Options, CFDs |
| Demo Account | Yes | Yes | Yes | Yes |
| Minimum Deposit | $50 | $1 | $250 | $250 |
| Minimum Trade | $1 | 0.01 Lots | $0.01 | $0.01 |
| Regulators | IFMRRC | SVGFSA | – | – |
| Bonus | 50% Deposit Bonus | 100% Deposit Bonus | 20% to 200% Deposit Bonus | 20% – 200% Deposit Bonus |
| Education | No | No | No | No |
| Platforms | MT5 | MT4, MT5 | TradingView | TradingView |
| Leverage | – | 1:1000 | 1:500 | 1:500 |
| Payment Methods | 23 | 10 | 8 | 9 |
| Visit | Visit | Visit | Visit | Visit |
| Review | – | World Forex Review |
Videforex Review |
RaceOption Review |
Compare Trading Instruments
Compare the markets and instruments offered by Pocket Option and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
| Pocket Option | World Forex | Videforex | RaceOption | |
|---|---|---|---|---|
| Binary Options | Yes | Yes | Yes | Yes |
| Expiry Times | 5 seconds – 4 hours | 1 minute – 7 days | 5 seconds – 1 month | 5 seconds – 30 days |
| Ladder Options | No | No | No | Yes |
| Boundary Options | No | No | No | No |
| CFD | No | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes |
| Commodities | Yes | Yes | Yes | Yes |
| Oil | Yes | Yes | Yes | Yes |
| Gold | Yes | Yes | Yes | Yes |
| Copper | No | No | Yes | No |
| Silver | Yes | Yes | No | Yes |
| Corn | No | No | No | No |
| Crypto | Yes | Yes | Yes | Yes |
| Futures | No | No | Yes | Yes |
| Options | No | No | No | No |
| ETFs | No | No | No | No |
| Bonds | No | No | No | No |
| Warrants | No | No | No | No |
| Spreadbetting | No | No | No | No |
| Volatility Index | No | No | No | No |
Pocket Option vs Other Brokers
Compare Pocket Option with any other broker by selecting the other broker below.
The most popular Pocket Option comparisons:
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- Pocket Option vs RaceOption
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Customer Reviews
4 / 5This average customer rating is based on 1 Pocket Option customer reviews submitted by our visitors.
If you have traded with Pocket Option we would really like to know about your experience - please submit your own review. Thank you.
Submit Your Own Review of Pocket Option
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| Founded in 2017, Pocket Option is a binary options broker offering up/down contracts on forex, stocks and cryptocurrencies. With over 100,000 active users and a global reach, the brand has proven popular with budding traders. Pocket Option also supports dozens of payment methods and has a low minimum trade of just $1. | ||
I’ve been trading binaries at Pocket Option for weeks and have been pleased with the platform – it’s easy to use with a strong charting package. My only complaint is that it’s no good for long-term trading – the longest expiry time is 4 hours.