Interested in online trading but you do not know where to begin your search for a legit broker? There are online reviews that will walk you through the steps by giving you comprehensive information regarding the trading platforms and robots that you may come across.
The information is aimed at helping you find a trusted brokerage or software you can trade with. Hundreds of brokers have been reviewed and in this section, you will find a Pocket Option review.
Find the best trading platform. You capital is at risk when trading. Be careful.
This brokerage is a product of Gembell Limited which is registered in the Republic of the Marshall Island. The registration number of the company is 86967. One of the factors that make Pocket Option a great trading site is its huge payouts which stand at 96%. There’s also a wide selection of cryptocurrencies. The firm has approximately 40 cryptos that you can trade.
Clients have the option of using the Pocket Option demo account which is funded with $10000 worth of virtual money. The demo account is, however, not as detailed as a real account. As such, the site offers additional educational materials to help new traders get started with trading on their platform.
Is Pocket Option A Scam? Is Pocket Option Regulated?
With the high number of forex, CFD, binary options, indices, and CFD brokers on the market today, it is a challenge to find a transparent brokerage. New traders are most affected. Since they have little knowledge about these brokers they may easily end up as scam victims. Before you trust your money with any broker, read as many reviews as you can. Never be in a hurry to trust a firm without doing your due diligence.
Some of the factors to consider when looking for a broker are whether it is regulated, if it is linked to any scam robots and whether it promises unrealistic returns. Traders using Pocket Option are assured it is licensed and regulated. This is by the International Financial Market Relations Regulation Center (IFMRRC). The regulator is not a government entity but an independent organization that is concerned with regulating brokers. Much as this might get a trader to question its trustworthiness, it is better than not being regulated at all.
One downside is that the website has contradictory information regarding the minimum amount that a trader can deposit to trade. For instance, in their terms & conditions page, the minimum deposit is $5 while the minimum withdrawal is $1. On the other hand, their payment options show that the minimum deposit is $50. Such mixed information may have a negative impact on this broker if not clarified. Overall, there is no sufficient evidence from users of a Pocket Option scam.
Alternatives To Pocket Option
Pocket Option is not a scam site. However, it needs to be precise about the minimum and maximum deposits to prevent itself from being seen as a questionable broker. Considering the uncertainties of this broker, it’s recommendable traders check out other brokers such as Markets.com or 24Option. Go through the 24Option review along with other reviews to find out more about their trading platforms, underlying assets, and regulators. These two alternatives will help you grow from a novice trader to a highly skilled one.
This is thanks to their great mastery of online trading. They have comprehensive learning materials and tutorials that will come in handy when you want to advance your expertise.