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Today we are going to review an online trading platform with an amazing policy stated in the Terms&Conditions section. Pocket Option is offering 40 Cryptocurrencies including Litecoin, Bitcoin, Dash, and Ethereum. In addition, it offers 17 stocks, 6 commodities, and 22 currency pairs…
If you are happy with the platform, you can start trading live by depositing at least $50. If you are looking for a simple and user-friendly trading platform, Pocket Option may become a considerable option.
But wait, we need to see if the legal status of this broker is transparent. We need to make sure to go through Pocket Option scam alerts to check the reliability of the source and claim. There are a number of factors that require attention. Let’s have a look at the background of Pocket Option.
Pocket Option Review Summary
Recommended: No (See Our Top Ranked Legit Program Here)
Summary: At a glance it looks like Pocket Option are regulated however this is NOT the case – at least they are not regulated by an official government body anyway, instead they are using a private body which is a cause for concern. Also Pocket Option has received many complaints with many people calling them an outright scam. We do NOT recommend Pocket Option & if you have already lost money to them continue reading to see how you can get it back.
Don’t have time to read our full in-depth Pocket Option review? Not a problem – to make things easier for you we’ve put together some quick navigation links below which you can use to jump straight to the specific information that you came here looking for:
- Pocket Option Background
- Is Pocket Option Regulated?
- Pocket Option Complaints
- Pocket Option Withdrawal
- Is Pocket Option a Scam?
- Our Verdict on Pocket Option
- Scammed By Pocket Option? Get Your Money Back
- A Better Way For Making Money Online Legitimately
Pocket Option Background
Gembell Ltd. owns and operates Pocket Option.
- Address. Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands.
- Company Registration # 86967
Let’s first see the most interesting policy we mentioned at the beginning of this review. The Terms&Conditions include that Pocket Option will NOT provide trading advice to its clients because of certain legal obligations. The clients have no right to ask Pocket Option representatives to help them with the trading advice.
Well, most of the online brokerages advertise their ability to serve with the reliable trading advice but this is the first time that we’ve come across an online trading platform that refuses to offer trading advice. In other words, let’s call Pocket Option a trading platform instead of a broker. This is just a trading facility rather than a proper brokerage.
But we like this step whether it is the result of a legal obligation or it is just a precautionary measure. We think that all online trading platforms must stay away from advising the traders. The reason is that the account managers push the clients into making huge investments while taking big risks and often it ends in a loss. Then the account managers encourage the traders to make more deposits and this is where the complaints begin to evolve.
We are amazed to see that Pocket Option is offering up to 96% payouts. For those love Binary Options with cryptocurrencies, Pocket Option may become a happy hunting ground because only a few platforms offer as much as 40 digital currencies. The platform offers 80% payouts for cryptos.
This is really amazing because even today, most of the platforms offer up to 50% payouts for cryptos.
Pocket Option is based on ITTrendex platform which is rare. We haven’t seen this platform used by any other online trading facility. The payouts are fairly high. The number of assets is also good.
Though the platform refuses to offer trading advice, it does offer the education material which includes video tutorials, a guide to using Pocket Option, and some trading strategies. This is a decent section to help the traders get going in the beginning.
Another positive feature of Pocket Option is that the website is available in 15 languages. And let’s not forget the Demo Account and the Android and iOS compatible versions for smartphones.
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Is Pocket Option Regulated?
Pocket Option is regulated by the International Financial Market Relations Regulation Center (IFMRRC).
License # TSRF RU 0395 AA Vv0116
Here comes the problem. We really don’t like this modern-day practice of getting regulated by a non-governmental regulatory authority. IFMRRC is a private independent organization. We are not really positive about such licenses.
Pocket Option Complaints
We were confused to witness that the information on the website is actually confusion. The reason is that different sections present contradictory content. For instance, the Terms and Conditions sections clearly state that 5 currency units are the minimum required deposit. It also states that the minimum withdrawal limit is 1 currency unit. But when we went through the FAQ section, the values for minimum deposit and withdrawals were different. It states 10 bucks is the minimum deposit as well as minimum withdrawal. To this point, it didn’t annoy us much because $10 is still a negligible amount. Pocket Option plays an amazing trick. We checked the available deposit methods on the website and realized that all of these methods don’t allow a deposit of less than $50.
As far as the real Pocket Option clients are concerned, we don’t find any significant complaints from them. Gembell Ltd. also has a good track record. Let’s see if this platform manages to remain clean and green for another couple of years.
Pocket Option Withdrawal
There are around 50 withdrawal methods most of which include the virtual cards and e-Wallets. The withdrawal policy is confusing because of the contradictory information on different sections. The FAQ section states that you can’t withdraw anything less than 10 bucks.
Is Pocket Option a Scam?
At the moment, the website is active and doing fairly good in terms of attracting visitors. The only problem is that the company has opted for a private regulatory authority, we can’t even call it an Authority though!
The number of Pocket Option scam alerts is next to none. It may be for the fact that the broker is new in the market as it was introduced in 2017. Yes, the website content requires some reconsideration but this flaw doesn’t make Pocket Option a scam.
Our Verdict on Pocket Option
We suggest you wait for a year or longer to let things get transparent. At the moment, Pocket Option seems to land nowhere. Though it is a good product and seems quiet Green we still doubt the private license. We’ll have to wait for a few months to see if the existing traders get frustrated or keep trading without feeling insecure. Only time can tell!
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Scammed By Pocket Option? Get Your Money Back
We’ve seen several reports on sites like TrustPilot from people who claim to have been scammed by Pocket Option & if you feel that you too have fallen victim to the Pocket Option scam then you can rest assured that you’ve landed in the right place.
The reason we say that is because here at Stopping Scammers we have put together a completely free money reclaim guide which has been designed to show people step-by-step exactly how they can get their money back from a binary options scam.
Our guide has been very effective and since it’s launch in 2018 it has helped thousands of people to successfully reclaim their funds so if you have also been scammed by a binary broker then we know it will be able to help you too. Plus on top of that it can even help you get money back from other types of scams as well.
Anyway as I just mentioned the guide is completely free of charge & you can get access to it right now by clicking here.
A Better Way For Making Money Online Legitimately
It’s true that you can make money with trading but similarly you can also lose money & sadly more people lose money than make it so overall we don’t recommend trading… However there are other MUCH better (in our opinion) ways to make money online.
We’ve come across a lot of scams for sure over the years however we’ve also come across a lot of great legitimate opportunities too & there has been 1 in particular which has stood out from all of the rest.
As a result we have decided to name this opportunity our number 1 recommendation for building a business & earning money from home & you can get access to it for free by clicking the link below now: