[{"category":{"name":"BitScreener Exclusive","exported_url":"bitscreener-exclusive"},"id":"93941b24-e7e7-4efd-b2c6-198a98403ece","updated_at":"2024-06-06T01:50:34.33+00:00","account":{"firstName":"Mason","lastName":"Thompson"},"description":"Can Pocket Option be the next launchpad for accessible crypto trading?","sapo":"In the world of binary options trading, Pocket Option is emerging as a leader in accessibility for crypto traders. But is Pocket Option a legitimate platform? And should you consider it for your crypto trading needs? Let's explore these questions in this article!","title":"Pocket Option: Your Gateway to Accessible and Secure Crypto Trading?","content":"

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What Is Binary Options Trading?

Before learning about Pocket Option as a broker, it’s important to refresh our understanding of binary option trading.

Binary options are a type of financial instrument that allows people to make all-or-nothing wagers on the price movement of events or underlying assets (stock, commodity, currency, cryptocurrency, etc.) within a specific timeframe (expiry time).

Binary options trading boils down to a “yes or no'' gamble (hence the name “binary”). Traders predict whether an asset’ price will be higher or lower than a certain level by an expiry time. If they are correct, they receive a predetermined cash payout. If their guess is wrong, they lose their entire investment. All or nothing. There’s no in-between.

What is Pocket Option?

pocket option

Pocket Option (Source: pocketoption.com)

Pocket Option is an online binary options broker founded in 2017 by a group of IT and FinTech specialists from GemBell Limited, based in the Marshall Islands.

With the aim of providing an accessible and innovative trading experience for traders of all levels, the platform offers a user-friendly interface and various features to ease users' experience. As of late, Pocket Option has amassed over 10 million registered accounts in more than 95 countries with over $500 million in trading turnover.

Deposits, Withdrawals and Fees

Deposit and Withdrawal

Low Minimum Deposit: Pocket Option requires a starting deposit of only $50USD, making it accessible for traders of all levels of expertise and experience to begin trading without having to risk a large sum of money.
No Maximum Withdrawal Limit: The base withdrawal amount is $10, and there is no limit to how much users can withdraw. Funds are typically received within 24 hours via the deposited payment methods.
Various Payment Methods: Pocket Option has over 50 payment methods available for different countries, allowing for smooth money deposit and withdrawal. These include cryptocurrencies, Mastercard and Visa credit/debit and exchanges like Coinbase, among many others.

pocket opition payment methods

Pocket Option (Source: pocketoption.com)

Fees: Pocket Option is Commission-free

Pocket Option offers a 0% commission for its services, meaning users can deposit and withdraw free of charge. Pocket Option makes their money when traders losses or when users purchase their trading boosters.

Trading on Pocket Option

Down here are some basic information you need to know to start trading on Pocket Option:

Wide Range of Assets: There are over 100 assets available for trading on Pocket Option, including top currencies (USD, AUD, GBP), commodities (gold, silver, crude oil), stock (Google, Apply, Microsoft) and cryptocurrencies (BTC, ETH, EOS). This variety of assets provides investors with a well-rounded selection, allowing them to trade based on their risk tolerance and market expertise.
Social Trading: As one of the few social trading platforms, Pocket Option empowers users to copy successful traders and refine their own trading strategies. Additionally, the platform also provides comprehensive guides to ease new traders through their first investments.

There are four Pocket Option platforms on which users can access markets, including its website (https://pocketoption.com), PC, Android and iOS.

How to Start Trading With Pocket Option

Boasting accessible and easy-to-use features, interested traders can start trading on financial markets with Pocket Option by following the steps below:

Registration: Create a free trading account by using your email address or simply authorize via Facebook and Google accounts.
Verification: Make your account personalized. Enter your personal information in the profile and upload both ID document and address documents.
Deposit: Add funds to your trading account balance by using the most comfortable deposit method. Processing time depends on the chosen option.
Trading: Choose a trading asset, set up the preferred chart layout and enable indicators for better market analysis. Set the trade amount, purchase time and place either a price decrease or increase order.
Profit: Each correct forecast results in a profitable trade order. The order amount plus the generated profit are automatically added to your account balance. Manage your income properly, invest further or withdraw profit if necessary.
Withdrawal: Place a withdrawal request via one of the methods previously used for depositing and wait for it to be processed and sent.

Is Pocket Option Safe?

Before entrusting a broker with your hard-earned money and personal information, it's crucial to consider its safety measures. Pocket Option has implemented various security frameworks to ensure the safety of its traders.

SSL-encrypted Website: The Pocket Option website utilizes SSL encryption, which helps to protect sensitive data (personal and financial information) transmitted between the user’s device and the platform’s servers from third-party influence.
KYC Verification: Pocket Option requires its users to verify their identity through a KYC (Know Your Customer) procedure, which involves the submission of official documents such as government-issued ID and proof of address.
Segregated Accounts: Users' deposited money are kept in an account separate from the company's operating funds, preventing potential misuse and guaranteeing easy access to funds for withdrawals.

Should I Trade on Pocket Option?

The legitimacy and legality of this brokerage remains a great concern for interested investors. Here’s some aspetc you should look at before considering doing trades on Pocket Option:

IFMRRC-Regulated: Pocket Option is regulated by the International Financial Market Relations Regulation Center (IFMRRC), showcasing the platform's compliance with international standards.
Not SEC-regulated: With that said, the platform is not regulated by the US Securities and Exchange Commission, which should already make you more cautious before approaching the platform.
Mixed Ratings and Reviews: Pocket Option has received positive reviews on TrustPilot, Traders Union, Google Play, and the App Store. However, some negative reviews on these same sites highlight issues with withdrawal errors and poor customer support.

Pocket Option is, therefore, most suitable for seasoned binary option traders, rather than beginner investors.

Ultimately, the decision to trade rests entirely on you. It’s important to note that binary options can be a tempting way to potentially make quick money, but they come with significant risks. Unless you have a high tolerance for risk and a strong understanding of the market, it might be best to consider other investment options.

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Pocket Option: Your Gateway to Accessible and Secure Crypto Trading?

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