Introduction
PocketOption is a binary options broker that has been in the market since 2017. It is owned by Gembell Limited, a company based in the Marshall Islands. With a wide range of assets to trade and unique features, PocketOption has managed to attract a significant number of traders. However, as with any broker, there are both pros and cons to consider. This review will delve into the details of what PocketOption has to offer, and whether it’s a good choice for traders.
Trading Platform
PocketOption provides a proprietary web-based trading platform that is accessible from any web browser. The platform is user-friendly and easy to navigate, making it suitable for both beginner and experienced traders.
Features
Some of the standout features of the platform include social trading, where you can copy the trades of successful traders, and a demo account, which allows you to practice trading without risking real money. There are also several charting tools and indicators available, which can be helpful for technical analysis.
Account Types
PocketOption offers two types of accounts: a Live Account and a Demo Account. The Live Account requires a minimum deposit of $50, which is relatively low compared to other brokers. The Demo Account comes with $10,000 of virtual funds for practice trading.
Deposit and Withdrawal
PocketOption supports a wide range of deposit and withdrawal methods, including credit/debit cards, e-wallets like Skrill and Neteller, and cryptocurrencies. The processing time for withdrawals is usually within 24 hours, which is faster than the industry average.
Regulation and Safety
One of the main concerns with PocketOption is its regulation status. The broker is registered in the Marshall Islands, a known offshore jurisdiction, and is not regulated by any reputable financial authority. This lack of regulation raises concerns about the safety of funds and the overall integrity of the broker.
Customer Support
PocketOption provides customer support through live chat, email, and phone. The support team is available 24/7 and is generally responsive and helpful. However, there have been some complaints about the quality of the support, with some users reporting difficulties in getting clear answers to their questions.
Conclusion
In conclusion, PocketOption offers a user-friendly trading platform with a wide range of features and a low minimum deposit requirement. However, the lack of regulation is a significant concern that potential traders should be aware of. As always, it’s important to do your own research and consider your own risk tolerance before choosing a broker.
