Pocket Option Review for Beginners
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $5
- MT4
- MT5
- Pocket Option
- MISA
- 2017
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $5
- MT4
- MT5
- Pocket Option
- MISA
- 2017
Our Evaluation of Pocket Option
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Pocket Option is one of the top brokers in the financial market with the TU Overall Score of 9.57 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Pocket Option clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company.
Pocket Option offers a wide range of trading instruments and copy trading services. It constantly improves its service quality and expands the list of assets and trading platforms. The broker is suitable even for novice traders without significant capital due to the low initial deposit. Experienced traders who work with CFDs and binary options can also use Pocket Option’s services.
Brief Look at Pocket Option
Pocket Option is an innovative Forex and binary options broker with over $500 million in trading volume. It offers active trading on financial markets, copy trading, and passive income on holding funds in dollar and cryptocurrency safes. The broker provides an in-house platform to trade binary options and MetaTrader platforms to trade CFDs on currencies, cryptocurrencies, stocks, indices, and commodities. Pocket Option was incorporated in 2017. The broker’s service is available in more than 95 countries and regions globally. Today, over 10 million users are registered with the broker, and 100,000 traders regularly use its services. In July 2023, it obtained a license from Mwali International Services Authority number T2023322.
- MetaTrader provides for trading binary options and CFDs;
- A demo mode is available for all account types;
- To register, you may use your Google email or Facebook/Google account;
- Active, social, and algorithmic trading is available on MT4 and MT5 accounts;
- Spreads are from 1.2 pips for Forex and no fees per lot;
- Referral program for retail clients with rewards of up to 50%-80% of the referee’s income;
- “My Safe” service that provides for crediting 10% per annum on the account balance not involved in trading;
- Cash back and promo codes for binary option traders;
- 50% deposit bonus.
- The broker offers neither cent accounts for novice traders to test strategies and advisors, nor ECN accounts with near zero spreads for professional traders;
- Real-time communication with operators is available upon funding the account.
TU Expert Advice
Financial expert and analyst at Traders Union
Pocket Option constantly expands the range of its products and services. It was incorporated in 2017 and has shown its client-oriented approach within the first year of operation. Traders got the opportunity to trade in mobile apps, place pending orders, and earn on partnership programs. In 2019, the broker offered trading Forex on MetaTrader 5, and in 2023 it added trading CFDs on MetaTrader 4.
All accounts for trading binary options are assigned the Newbie, Beginner, Experienced, Master, Pro, and Guru status subject to the deposit. Accounts without deposits are called Strangers. The higher the level, the more opportunities traders get. Trading conditions are the increase of percentage payment for successful trades and a trade amount that ranges from $1,000 to $20,000. Other advantages are priority withdrawals, gifts, personal manager services, trading strategies, etc.
MT4 and MT5 for Windows, Android, macOS, Linux, and WebTrader are available for trading Forex. A separate MT5 account is designed for trading CFDs on stocks. The broker earns a little markup on spreads. There are no additional trading fees. Pocket Option doesn't charge non-trading fees and offers over 50 payment methods that allow traders from many regions to choose an option with minimum transaction fees.
- Active trading is your priority. Pocket Option’s pool includes over 100 options on various assets, traded at acceptable fees.
- You are a novice trader who wants to learn from professionals. The broker provides a lot of educational materials, such as articles, books, glossary, and videos. Also, it offers a free demo account to test the new knowledge.
- A reputable regulator is important to you. Pocket Option is located in Costa Rica and has an offshore regulation. Thus, traders are not protected.
Pocket Option Summary
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: |
Pocket Option (web and mobile); MetaTrader 4/5. |
|---|---|
| 📊 Accounts: |
Quick Trading/QT for binary options, MT4, MT5, and Shares Trading. |
| 💰 Account currency: | USD |
| 💵 Replenishment / Withdrawal: | Bank transfers, bank cards, cryptocurrencies, Skrill, Neteller, AdvCash, Perfect Money, and other e-wallets |
| 🚀 Minimum deposit: | $5 |
| ⚖️ Leverage: |
1:1000 for MT4/MT5; 1:1 for options on the in-house platform. |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: |
0.01 lots for currencies, cryptos, and commodities; 0.1 lots for oil and indices; 1 lot for stocks; $1 for binary options. |
| 💱 Spread: | 1.2 pips for MT4/5 |
| 🔧 Instruments: | Binary options and CFDs on currency pairs, cryptos, indices, stocks, and commodities |
| 💹 Margin Call / Stop Out: | 30%/50% |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market for Forex |
| ⭐ Trading features: |
Free signals; Forex account types without additional fees. |
| 🎁 Contests and bonuses: |
Deposit bonus; Cash back; Tournaments; Promo codes; Gem mining, etc. |
To start trading with Pocket Option, it’s enough to minimum deposit $5 on both Forex and binary options account types. Deposits are available from crypto and e-wallets, however, there are cryptos with a $10-$50 minimum threshold. Not less than $16 can be deposited from a bank card. When trading CFDs on MT4 and MT5, traders can use pending orders, one-click trading, and automated trading.
Pocket Option Key Parameters Evaluation
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Trading Account Opening
To receive additional bonuses for trading with Pocket Option, open an account with it using the TU referral code. Then open a live account. For this, register with the broker first, and then log into your user account. All these actions are performed on the home page of the website. On the right side of the page, there are registration and authorization forms.
Traders can access the following options upon authorization:
Register a demo or live account.
Financial transactions: deposits, withdrawals, My safe, cash back, etc.
Analytics, market news, and bonus offers
Educational materials, tutorials for novice traders, and communication with technical support.
Also, advanced statistics on all trades and transactions, a store to buy trading advantages, and 2FA are available here.
Regulation and Safety
Pocket Option is licensed by MISA under number T23322. It ensures that the broker works under international laws and rules of financial markets.
Advantages
- MISA doesn’t set restrictions on leverage that the broker offers to retail clients
Disadvantages
- Pocket Option doesn’t provide its services in the USA, the UK, the European Economic Area, Japan, and several other countries
Commissions & Fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Quick Trading (binary options) | $0 | May be charged by a payment agent |
| MT4 | $12 | May be charged by a payment agent |
| MT5 | $12 | May be charged by a payment agent |
| Shares Trading | $10 | May be charged by a payment agent |
Below are the average fees of Pocket Option and other brokers. Brokers’ comparison by trading fees is important when choosing an intermediary to access the Forex market.
| Broker | Average commission | Level |
|---|---|---|
|
$8.5 | |
|
$2.4 | |
|
$1 |
Account Types
Pocket Option significantly expanded the range of its account types in 2023.
Previously, you could only trade Forex on MT5 and binary options on the proprietary Pocket Option platform. Today, the broker offers MT4 account types and a special account to trade CFDs on stocks.
Account types:
Payouts for successful forecasting are 15%-92% subject to the asset.
Highest payouts are for currencies and stocks.
Leverage is up to 1:1000.
Variable spreads are from 1.2 pips.
No trading fee.
Minimum order is 1 lot;
Leverage is 1:1.
Spreads start at 10 units of base instrument currency.
Demo mode is available for each live account type. There are corresponding names in the user account: QT Demo, MT4 Demo, MT5 Demo, and Shares Trading Demo.
Pocket Option - How to open a trading account? | Firsthand experience of Alex Smith by Traders Union
Deposit and Withdrawal
-
Withdrawals are made by the same method used for making deposits;
-
Available systems are provided in the user account. Their list varies for different countries;
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Only verified clients can request withdrawal of funds;
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The company processes requests within 24 hours. The crediting period ranges from 1 minute to 3 days subject to the system. Sometimes delays of up to 7-10 days occur;
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If the withdrawal currency is different from USD, the broker charges a conversion fee. Additional fees may be charged by payment systems.
Pocket Option - How to withdraw funds | Firsthand experience of Oleg Tkachenko by Traders Union
Investment Options
Pocket Option offers passive income that depends on the chosen trading platform and markets. Both Forex traders and those who trade binary options can earn without actively trading.
Passive income from Pocket Option
Each trading platform offered by the broker has built-in tools for social trading, but they are implemented in different ways. MetaTrader platforms support algorithmic trading that provides for making income without independent trading.
Available options are:
-
Pocket Option social trading platform. Over 100 providers broadcast their binary options trades that are available for copying;
-
Trading signals for options. These can be copied on the Pocket Option platform and in Telegram;
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Signals of the MQL community. These signals are copied on MT4 and MT5 automatically after traders choose providers and pay monthly subscription fees.
Pocket Option - How to choose a trader to copy trades | Firsthand experience of Oleg Tkachenko by TU
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Partnership programs
To receive additional rewards, do the following:
-
Become a partner ( Affiliate ). There are 4 levels and 6 tariff plans available. They range from the simplest CPA (cost per action) with a one-time fee for registration of a trader to combined plans that include part of the broker’s income and the referee’s trading volume.
-
Become an Introducing Broker. The agency fee for expanding the broker’s client base in your region is $15 for each trade of a referred trader.
Both partnership solutions provide for multi-level rewards. Partners and introducing brokers earn an additional 10% of the income of all their sub-partners.
Additional Trading Tools
To make trading easier and more profitable, Pocket Option offers:
-
Demo account. It can be opened on each of the platforms to test the broker’s trading conditions when trading with virtual funds.
Services for Better Trading — Demo account -
My Safe. This is a passive income tool provided in the user account. Interest of 3%-10% is accrued on the amount of free funds in the safe. Traders can choose a period of 3, 6, and 12 months. Available currencies are USD, BTC, and ETH.
Services for Better Trading — My Safe -
Social Trading. It’s an option built into the proprietary platform to copy binary options trades of professional traders.
Services for Better Trading — Social Trading -
Trading signals. This service is available to all broker clients with a balance from $1. Signals can be tested on a demo account.
Services for Better Trading — Signals -
Trading advantages. These are various bonuses, promo codes, and cash back. The Risk Free option allows traders to cancel a losing trade.
Services for Better Trading — Bonuses
All the above tools are available upon registration with Pocket Option.
Customer Support
Three live chats are available to all users. These are a general chat in English, a local chat in the trader’s language, and a live chat with technical support. Also, traders can call the broker or send an email.
Advantages
- Free communication with other brokers’ clients is available
Disadvantages
- Live chats are available only to registered users
Contacts
| Foundation date | 2017 |
|---|---|
| Registration address | Republic Of Costa Rica, San Jose - San Jose Mata Redonda, Neighborhood Las Vegas, Blue Building Diagonal To La Salle High School |
| Regulation |
MISA
Licence number: MISA, license number T2023322 |
| Official site | https://pocketoption.com/ |
| Contacts |
+44 20 8123 4499
|
Education
Most educational materials offered by Pocket Option are dedicated to trading binary options. However, there is also information on Forex. To get access to these materials, register a user account with Pocket Option and indicate your email.
Demo accounts and a live chat on the trading platform, where traders can communicate with each other, are designed to help novice traders.
Comparison of Pocket Option with other Brokers
| Pocket Option | RoboForex | Exness | Eightcap | Vantage Markets | XM Group | |
| Trading platform |
Pocket Option, MT5, MT4 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5 | MT4, MT5, WebTrader, Mobile Apps | MT4, MT5, MobileTrading, XM App |
| Min deposit | $5 | $10 | $10 | $100 | $50 | $5 |
| Leverage |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:30 to 1:500 |
From 1:1 to 1:500 |
From 1:1 to 1:30 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 1.2 point | From 0 points | From 1 point | From 0 points | From 0 points | From 0.6 points |
| Level of margin call / stop out |
30% / 50% | 60% / 40% | No / 60% | 80% / 50% | 100% / 50% | 100% / 50% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | No | Yes |
Detailed Review of Pocket Option
Pocket Option provides its proprietary platform with a built-in signal service, a wide range of indicators, and two-factor authentication (2FA) to trade binary options. Also, it offers trading CFDs on currencies and 5 more instruments on MetaTrader platforms.
Pocket Option by the numbers:
-
6+ years on Forex and binary options markets;
-
3 trading platforms + automated trading in a Telegram bot;
-
100+ expert traders provide their signals for copy trading.
Pocket Option is a broker for trading various CFD classes and binary options
Pocket Option previously focused on binary options. Forex trading through MT5 was only available to major traders with deposits over $1,000. In 2023, the company simplified its requirements to CFD traders, added new account types, and MT4. Pocket Option clients trade options on the most favorable conditions. The minimum trade is only $1, and the payout percentage on currencies and stocks is up to 92%. However, now traders can use a functional mobile app for Android in addition to the web platform.
CFD trading is available on web versions of MT4 and MT5. Also, there is a tab in the user account that allows traders to focus on trading CFDs on U.S. stocks, EU stocks, and Asia stocks. Moreover, trading OTC (over-the-counter) instruments is available upon a $5 deposit, since the broker has equated minimum deposits for Forex and binary options traders. Leverage on all assets is up to 1:1000, though it may be reduced at the trader’s request when placing a position.
Advantages:
No fees for deposits, withdrawals, account maintenance, analytics, and support;
Over 100 trading instruments from various markets, including CFDs with leverage up to 1:1000;
Free internal transfers between binary options and MT5 account types.
User Satisfaction