Brutally Honest Review of PocketOption

Overview

PocketOption is a web-based trading platform that allows traders to trade various financial instruments, including forex, stocks, commodities, cryptocurrencies, and more. The platform was founded in 2017 and is owned and operated by Gembell Limited, a company registered in the Republic of the Marshall Islands. PocketOption provides a simple and user-friendly interface, making it easy for novice traders to start trading.

Features

PocketOption offers a range of features that cater to traders of different levels of expertise. The platform has a wide range of trading instruments, with more than 100 assets available for trading. The demo account is an excellent feature for traders new to trading, as it allows them to practice trading with virtual money before risking their own funds.

Another feature of PocketOption is the availability of different trading tools, such as technical analysis tools and indicators, which can help traders make informed trading decisions. The platform also has a mobile app, which allows traders to trade on the go, making it convenient for traders who are always on the move.

Benefits

One of the benefits of using PocketOption is its low minimum deposit requirement, which is only $10. This makes it accessible for traders who do not want to risk a significant amount of money when starting. PocketOption also offers a high payout rate of up to 95% on successful trades, which is higher than some of its competitors.

Another benefit of using PocketOption is its customer support service. The platform offers a live chat feature that is available 24/7, allowing traders to get immediate assistance with any issues they may encounter while using the platform. The customer support team is responsive and knowledgeable, which makes it easy for traders to get the help they need quickly.

Drawbacks

While PocketOption has many benefits, there are also some drawbacks that traders should be aware of before using the platform. One of the drawbacks is the limited regulatory oversight. PocketOption is not regulated by any major financial regulator, which means that traders may not be fully protected in the event of any disputes with the platform.

Another drawback of using PocketOption is the limited educational resources available on the platform. While the platform does offer a demo account for practice trading, it does not offer comprehensive educational materials, such as webinars, tutorials, or trading guides, which can be helpful for new traders.

Conclusion

In conclusion, PocketOption is a web-based trading platform that offers traders a range of features and benefits. The platform is user-friendly and accessible, with a low minimum deposit requirement and a high payout rate. The customer support service is also responsive and knowledgeable, making it easy for traders to get the help they need.

However, traders should also be aware of the limited regulatory oversight and the lack of comprehensive educational resources on the platform. Overall, PocketOption is a decent trading platform, but traders should carefully consider its features, benefits, and drawbacks before deciding to trade with it.