Pocket Option Forex Broker

Offshore Regulated - High Risk

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Trust Score

3.2

OUT OF 10

Pros

Low minimum deposit requirement of just $10 making it highly accessible for beginner traders
Comprehensive social trading features allowing users to copy successful traders' strategies automatically
Fast deposit processing with multiple payment methods including credit cards and cryptocurrencies
User-friendly trading platform with intuitive interface suitable for novice traders
Extensive range of tradable assets including forex, stocks, cryptocurrencies and commodities all in one platform
Regular trading tournaments with prize pools offering additional earning opportunities
Demo account available for practice trading without risking real money

Cons

Unregulated by any major financial authority, operating under offshore license only which provides minimal investor protection
Numerous user complaints about withdrawal delays and account restrictions after profitable trades
Alleged price manipulation and significant differences between demo and real account trading conditions
Lack of transparency regarding company ownership and operational structure
Aggressive marketing through paid affiliates raising credibility concerns
No negative balance protection or segregated client funds guarantees

Basic Information

Company

Pocket Option

Region

Republic of Costa Rica

Established

2017

support@pocketoption.com

Phone

unknown

Website

www.pocketoption.com

User Reviews

Marcus Thompson United Kingdom

★★★★☆

I've been trading with Pocket Option for 6 months, primarily focusing on cryptocurrency pairs and forex. The platform is quite user-friendly and I particularly enjoy the social trading features which helped me learn from experienced traders. Deposits are processed instantly and I've successfully withdrawn profits twice through Bitcoin with processing completed within 24 hours. The minimum deposit of $10 was perfect for starting small. However, I've noticed that spreads can be wider than advertised during volatile market conditions. The lack of major regulation is concerning but my personal experience has been mostly positive.

Ahmed Khalil Dubai, UAE

★★★☆☆

Trading with Pocket Option for 4 months has been a mixed experience. The platform is easy to use and their mobile app works well for quick trades. Initially deposited $500 via credit card with no issues. However, when I tried to withdraw $1,200 in profits, they requested multiple rounds of verification documents and the process took over 2 weeks. Customer support was slow to respond during Asian trading hours. While I eventually received my withdrawal, the lack of transparency around their verification process is frustrating. The trading tournaments are interesting but prize pools are quite small.

Sofia Rodriguez Spain

★★★★★

After trading for 9 months on Pocket Option's platform, I've found it particularly suitable for small account trading. Started with just $50 and gradually built it up through careful position sizing and social trading features. The copy trading functionality is excellent - I follow three successful traders and have achieved consistent results. Platform execution is fast and I haven't experienced any significant technical issues. Made several withdrawals between $100-$500 via Skrill, all processed within 48 hours. While the regulation aspect isn't ideal, the platform has worked reliably for my trading style.

Overview

Pocket Option, established in 2017, operates as a retail forex and CFD broker registered under Infinite Trade LLC in Costa Rica with registration number 4062001303240. The broker claims to hold a Brokerage License via the International IBC Regulation Act 2014 and operates through the Autonomous Island of Mwali (Mohéli), Comoros Union. Previously operating through Gembell Ltd., the company’s regulatory status raises significant concerns as it lacks oversight from any major financial authorities. Despite these regulatory red flags, Pocket Option has gained attention in the retail trading space primarily due to its low entry barriers and social trading features. The platform offers trading in forex, stocks, cryptocurrencies, and commodities with a minimum deposit of just $10, making it accessible to traders with limited capital. The broker provides a proprietary trading platform with features including social trading capabilities, trading tournaments, and achievement systems designed to engage traders. However, user reviews and regulatory assessments indicate serious concerns regarding withdrawal processing, account restrictions, and potential price manipulation. While the platform interface and deposit process are generally praised, the lack of tier-1 regulation and numerous user complaints about withdrawal issues suggest significant risks for traders. The broker appears to target novice traders through aggressive marketing campaigns and affiliate programs, though the absence of standard investor protections like segregated client funds and negative balance protection should be carefully considered by potential clients.

Is Pocket Option Safe? Regulation Analysis

Pocket Option’s regulatory status presents significant concerns for investor protection. The broker operates under Infinite Trade LLC, registered in Costa Rica, and claims licensing through the International IBC Regulation Act 2014 via the Autonomous Island of Mwali, Comoros Union. This regulatory framework provides minimal oversight compared to major financial authorities like the FCA, ASIC, or CySEC. The broker lacks crucial regulatory requirements such as mandatory client fund segregation, minimum capital requirements, and regular external audits. There is no compensation scheme protection for clients in case of broker insolvency. The company’s previous operation through Gembell Ltd. and claimed registration with the International Financial Market Relations Regulation Centre (IFMRRC) and Mwali International Services Authority (MISA) represents offshore regulation that offers limited investor safeguards. WikiFX investigations have found the broker to be effectively unlicensed by any major regulatory authority, assigning it a trust score of just 1.27 out of 10. Traders should be aware that funds deposited with Pocket Option do not benefit from standard protections like negative balance protection or access to financial ombudsman services that are mandatory under tier-1 regulators.

Trading Products and Services

Forex Trading: Over 50 currency pairs available including major, minor and exotic pairs. Trading available during standard forex market hours with leverage offered up to 1:500
Cryptocurrencies: Multiple digital assets available for trading including Bitcoin, Ethereum, and other major altcoins with 24/7 trading access
Stocks: CFD trading on major US and international stocks from exchanges including NYSE and NASDAQ
Commodities: Trading available on gold, silver, oil and other popular commodities
Digital Options: Binary options trading with various expiry times ranging from 60 seconds to end of day
Indices: Major global stock indices including S&P 500, NASDAQ, FTSE 100, and DAX

Trading Platforms

Pocket Option utilizes a proprietary web-based trading platform designed for both novice and experienced traders. The platform features include:

Web-based Trading Platform: HTML5 platform accessible through any modern web browser without download requirements, featuring real-time charts, multiple timeframes, and technical analysis tools
Mobile Trading: Native mobile applications available for both iOS and Android devices, offering full trading functionality and account management features
Social Trading Features: Copy trading capability allowing users to follow and automatically replicate trades of successful traders
Technical Analysis Tools: Multiple chart types, technical indicators, and drawing tools for market analysis
Demo Account: Practice account with virtual funds to test strategies and familiarize with the platform
Tournament Platform: Special interface for participating in trading competitions with real prizes

Deposit and Withdrawal

Credit/Debit Cards: Visa and Mastercard accepted with instant processing, minimum deposit $10, no fees charged by broker
E-Wallets: Multiple options including Skrill, Neteller, Perfect Money with instant processing
Cryptocurrencies: Bitcoin, Ethereum, and other major cryptocurrencies accepted with processing times varying from 10-60 minutes
Bank Wire: Available for larger deposits, processing time 2-5 business days
Withdrawals: Processed through same method as deposit, processing times vary from 24 hours for e-wallets to 5-7 days for bank transfers
Verification Required: KYC documentation needed for withdrawals including proof of identity and address
Currency Options: Multiple base currencies supported including USD, EUR, GBP

Customer Support

Pocket Option provides customer support through multiple channels:

24/7 Live Chat: Available directly through the trading platform with typical response times under 5 minutes
Email Support: General inquiries handled through support@pocketoption.com
Social Media: Active presence on Telegram and other social platforms for community support
Languages: Support available in multiple languages including English, Spanish, Portuguese, and Russian
Educational Resources: Trading guides, video tutorials, and webinars available through the platform
FAQ Section: Comprehensive knowledge base covering common questions and platform features

Support quality varies according to user reviews, with some reporting slow response times during peak hours and withdrawal-related queries.

Frequently Asked Questions (FAQ)

Q: Is Pocket Option a regulated and safe broker?
A: Pocket Option operates under offshore regulation through the International IBC Regulation Act 2014 and Mwali International Services Authority. This represents a lower level of regulatory oversight compared to major financial authorities like the FCA or ASIC. Traders should be aware that their funds do not benefit from standard protections like segregated accounts or compensation schemes typically required by tier-1 regulators.

Q: What is the minimum deposit required to start trading?
A: Pocket Option offers a low minimum deposit requirement of just $10, making it accessible to beginners. Multiple payment methods are accepted including credit cards, e-wallets, and cryptocurrencies. While the low entry barrier is attractive, traders should carefully consider the risks associated with trading through an offshore-regulated broker.

Q: How long do withdrawals typically take to process?
A: Withdrawal processing times vary by method: e-wallets typically process within 24-48 hours, credit card withdrawals take 3-5 business days, and bank transfers can take 5-7 business days. However, numerous user reviews report experiencing delays and additional verification requirements, particularly for larger withdrawals.

Q: What trading platforms does Pocket Option offer?
A: Pocket Option provides a proprietary web-based trading platform accessible through any modern browser without download requirements. The platform includes features like real-time charts, technical analysis tools, social trading capabilities, and is available on both desktop and mobile devices through native iOS and Android apps.