Is Pocket Options Scam or Legit Broker?

Pocket Options has been suspected as a scam broker. According to the website, Pocket Options is providing financial services under the laws of the Marshall Islands Business Corporation Act. However, it doesn’t mean the company is regulated or licensed. 

  • Marshall Islands are known hub for various scams and fraud companies, as the incorporation requirements are very low, while the only “standard” is a small initial start capital. Of course, it doesn’t mean that all companies are frauds, but a firm with a trustful trading environment should be authorized by any other reputable world agency. Even though the Pocket Option brokerage is a “freshly” established firm and there are not many scary stories about their violations, some reviews still appear mainly concerning manipulations in the trading process.

About Pocket Option
🗺️ Registered inMarshall Islands
🗺️ Type of LicenseOffshore License
🛡️ Is Pocket Option safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is Pocket Options?

Pocket Options is an online trading provider offering over 100+ trading instruments, along with competitive promo and bonuses that reward clients with social trading capabilities and other tools. The trading name Pocket Option is owned and operated by Gembell Limited, which is registered in the Marshall Islands investment firm, as well claimed to operate under the regulation of IFMRRC (International Financial Market Relations Regulation Center).

  • However, its regulated status is doubtful, since IFMRRC is a non-governmental authority that acts as an independent organization and does not strictly oversee the operation of the registers.

 

Overall Pocket Option Ranking 

Because of the regulation and safety issues we found during our research of Pocket Option, we do not rank positively Pocket Option, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

  • Pocket Option Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

RankingPocket OptionFP MarketsXM
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneTrading InstrumentsPlatforms

Pocket Option Alternative Brokers

We found that Pocket Option has a lot of issues, mainly in respect of its safety and customer care. Thus, here are much better Alternatives to Pocket Option with tight regulations and great trading conditions. We select Good Brokers and reliable options for your comparison below: 

  • HFM – Good for Currency trading
  • FP Markets – Good for CopyTrading
  • FXTM – Good for Beginners

 

Pocket Option Deposit & Withdrawal

To fund a Pocket Option account traders can choose among the following methods: Bank wire transfers, cryptocurrencies, Visa and Mastercard payment cards, plus Skrill, Neteller, FasaPay and Load e-wallets. Depending on the chosen method, it may take some time for the transfer to reflect on the Pocket Option trading account.

  • Traders are able to withdraw funds via the methods that they previously used for depositing in their trading accounts.
  • It is possible to withdraw the trading account balance at any time without any restrictions on the amount. If traders do not have active deposit bonuses, they can withdraw the trading account balance at any time without any restrictions on the amount. 

Pocket Option Review Conclusion

Based on our finds, we do not see Pocket Option as a trustable broker. We always advise trading only with reputable companies, nor with an offshore one, since the safety of funds and potential investments always go first. For that reason, it is a much better choice to trade with Brokers registered and supervised by the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC), such as BDSwiss and FBS.

  • Overall ranking and experience for Pocket Option is Negative

No news available.

2 responses to “Pocket Option”

  1. I have been using Pocket Option for almost a year User ID 24238526. I love the fact that they have fast deposits & withdrawals with cyrpto. What keeps me using them the most is there low expiry times starting at 5 seconds.

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