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Pocket Option Review - is it scam or safe?

Pocket Option review - Is pocketoption.com scam or good forex broker?

RATING: 1 / 2 REVIEWS Pocket Option
Pocket Option is not regulated. We cannot guarantee your money is safe.

Pocket Option is a binary options broker, offering bets on a variety of assets – form forex pairs and crypto coins to precious metals and oil. This, however, is an unregulated, offshore broker, so if you are planing to bet with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Standard Account $50 n/a n/a

 

Pocket Option Advantages:

 

Good variety of betting instruments

 

As we already mentioned Pocket Option offers a really good choice of trading instruments – over 30 forex pairs, with some exotic currencies like Russian Ruble, Singapore Dollar, Polish Zloty, Turkish Lira and South African Rand. 

 

Other assets include spot metals like silver and gold, oil, plenty of stocks and a number of crypto coins including Ripple, Stellar, Vertcoin, Santiment, Viacoin, Zcash, Litecoin, NEM, NEO, Bitcoin Cash, EOS, Ethereum Classic, GameCredits, Monero, Ethereum, Bitcoin and Ardor. Still, here you may want to check our list of brokers, offering Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Good payout

 

Binary options brokers are assessed by the payout they offer with their bets. Pocket Option offers 93% payout on the EURUSD pair, which is considered good. Still, if you consider trading classical forex and CFDs, you may also check our list of brokers offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

You can start betting with just 50 USD

 

The minimum deposit requirement with Pocket Option is 50 USD and this is acceptable. Actually with most brokers you will have to invest at least 250 USD in order to open a trading account. Still, some big players like FBS and IG do not have a minimum deposit requirement at all.

 

Pocket Option Disadvantages:

 

Lack of regulation

 

Pocket Option is owned by Gembell Limited – a company based on the  Marshall Islands, but operated by Tifiya Group s.r.o., which is said to represent Gembell Limited in EU.

 

Here we should note that sine early July the European Securities and Markets Authority (ESMA) banned all binary options bets in the European Union, so basically all Pocket Option operations in EU are illegal.

 

Also, although Pocket Option says they are regulated by the International Financial Market Relations Regulation Center (IFMRRC), we should note that IFMRRC is not an official regulatory body such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC), but just an anonymous website, lacking credibility whatsoever. Besides, our research shows that the people behind IFMRRC are Russian and their business is to accommodate unregulated, offshore brokers.

 

As proper regulation is the single most important factor for the safety of any investment on the retail forex market (including binary options bets), we strongly advise all potential traders to deal with properly regulated brokers only.

 

Regulated brokers are obliged to follow strict financial and ethical rules, among which to file regular reports to their supervisory institution, to allow external audits, to maintain a certain minimum capital adequacy ratio and to keep all clients money in a segregated, protected form creditors account. Some regulators like FCA in the UK and CySEC in Cyprus even require brokers to participate in client compensations schemes.

 

Thus, traders with FCA brokers can receive back up to 50 000 GBP of their trading capital in the event their broker files for bankruptcy, while traders with CySEC brokers are entitled to a compensation of up to 20 000 EUR. Besides, here you may check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

MetaTrader4 not supported

 

Pocket Option offers an overly simplified web based trading platform that lacks many of the features, standard with classical trading solutions like the MetaTrader4. 

 

 

Of course, MT4 is used for forex and CFD trade and one of its many advantages is the ability to support automated trading sessions. So here you may also check our list of brokers, offering the MetaTrader4:

 

>>MT4 Brokers<<

 

Few payment methods

 

With Pocket Option you can fund your account only with a credit card like VISA and MasterCard and bank wire. We miss some popular e-wallets like NetellerSkrill, as well as the option to pay with Bitcoins. Besides, here you may also check our list of brokers, accepting payments with bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

Conclusion:

 

Pocket Option is an unregulated, offshore, binary options broker and to us that sound like a recipe for a scam. As we already noted, our best advise is to invest with properly regulated brokers only.

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Traders` reviews for Pocket Option

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Summary

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Pocketoption scam, manipulation of price and assets

PocketOption manipulated price and assets, They try to justify with the liquidity provider, but there is no evidence. The Law Firm I work with is currently sending the formal notice to the Financial Ombudsman Service and to PaySafe Financial Group Limited.

They manipulate prices and assets in order to let you lose all. And if you don't lose, but earn enough, they will block withdrawals.

All is documented by photo and video and will be continuously posted on social media channels.

Luca 11/30/2018

Probable Scam

This is a probable scam. I had an open option and suddenly the window closed and said "this asset is not available for trading" and of course it lost. I had been on a winning streak. Then they closed all real currencies and opened up cryptocurrencies and I lost like 4 in a row some at the last second. I really think they manipulate prices if you have been winning too long. The fact that they closed a currency pair in the middle of an open trade screams scam. You are "allowed" to win for a while but the House will get you in the end. I think there are more honest brokers out there like Nadex. Stay away from this one.

Francis 10/21/2018
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