7 minute read
What Is Pocket Option and How Does It Work? What You Need to Know
from Pocket Option
Pocket Option is an online binary options trading platform that allows users to speculate on the price movements of various financial assets such as currencies, stocks, cryptocurrencies, and commodities. Launched in 2017 by Gembell Limited, Pocket Option has gained popularity for its simple interface, low deposit requirements, and accessibility to both beginner and experienced traders.
But what exactly is Pocket Option, and how does it work? Let’s break it down.
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What Is Pocket Option?
Pocket Option is a binary options trading platform, meaning traders place trades based on whether they believe an asset’s price will go up or down over a specific period. Unlike traditional forex or stock trading, where profits or losses depend on how much an asset’s price moves, binary options offer a fixed return.
If your prediction is correct, you earn a set percentage of your investment—typically between 70% and 96%. If you're wrong, you lose your investment.
The platform supports hundreds of assets, including:
· Forex pairs (e.g., EUR/USD, GBP/JPY)
· Cryptocurrencies (e.g., Bitcoin, Ethereum)
· Stocks (e.g., Apple, Amazon)
· Commodities (e.g., Gold, Oil)
Pocket Option is accessible via web, desktop, and mobile applications. It is not regulated by major financial authorities like the SEC or FCA but operates under the International Financial Market Relations Regulation Center (IFMRRC), which is not considered a top-tier regulator.
How Does Pocket Option Work?
Pocket Option works through a user-friendly trading interface that allows you to make binary options trades. Here’s a step-by-step look at how the platform functions:
1. Creating an Account
To start, you sign up with an email address or social media login. The registration is fast, and you can immediately access a demo account with $10,000 in virtual funds to practice.
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2. Making a Deposit
To trade with real money, you need to deposit at least $5. Pocket Option supports a wide range of deposit methods, including:
· Debit/Credit cards
· E-wallets (Skrill, Neteller, Perfect Money)
· Cryptocurrency (Bitcoin, Litecoin, Ethereum, and more)
The low minimum deposit is one of Pocket Option’s strongest appeals, especially for beginners.
3. Choosing an Asset and Setting a Trade
Once your account is funded, here’s how a typical trade works:
· Select an asset (e.g., EUR/USD)
· Choose trade duration (from 30 seconds to several hours)
· Decide the amount to invest
· Click “Up” (Call) or “Down” (Put) depending on whether you think the asset’s price will rise or fall
· Wait for the trade to expire
If your prediction is correct, you receive a payout. If not, you lose your stake.
4. Payout and Return Rates
Pocket Option offers high payout rates, often ranging from 70% to 96%, depending on the asset and market conditions. This means if you invest $100 and predict correctly, you could earn $70 to $96 in profit, plus your original $100 back.
However, if you're wrong, you lose the full $100. This risk-reward structure is what defines binary options.
5. Demo Account
The platform provides a free demo account with $10,000 virtual money. It's a crucial tool for beginners to test strategies and get familiar with the platform before risking real capital.
6. Trading Features
Pocket Option includes several useful features:
· Turbo Trades: Short-term trades from 30 seconds to 5 minutes
· Long-Term Trades: Up to 4 hours in duration
· Copy Trading: Follow and copy top traders' strategies
· Tournaments: Compete with others for cash prizes
· Indicators and Chart Tools: Like RSI, MACD, Bollinger Bands
· Social Trading Feed: Watch trades in real time from global users
These tools make Pocket Option attractive for both casual and serious traders.
Is Pocket Option Legit or a Scam?
The most asked question by new users is whether Pocket Option is legit.
The short answer: Pocket Option is a real platform, but binary options carry a high risk of loss, and the company is not regulated by major financial authorities. This makes it riskier than platforms that operate under stricter regulations.
Pros:
· Established since 2017
· Tens of thousands of daily active users
· Fast deposit and withdrawal processing
· Transparent terms and conditions
· Demo account available
Cons:
· Not regulated by Tier 1 bodies (like CySEC or FCA)
· Binary options are banned in many countries due to their risk
· High potential for losses if not careful
As with any investment platform, you must do your own due diligence and never invest money you can’t afford to lose.
Can You Make Money on Pocket Option?
Yes, you can make money using Pocket Option—but it’s not easy, and many traders lose money. Like any form of speculative trading, success depends on knowledge, strategy, and discipline.
Some tips for increasing your chances:
· Start with a demo account
· Don’t overtrade—stick to a few well-researched trades per day
· Use indicators to guide your decisions
· Follow a risk management strategy (e.g., only risking 1–2% of your account per trade)
· Keep a trading journal to analyze and improve over time
Some experienced traders use strategies like trend-following, candlestick patterns, or breakout trading to increase their win rate. Pocket Option also allows you to integrate third-party tools and trading signals to aid in decision-making.
However, binary options are not a guaranteed way to make money. The all-or-nothing nature makes them highly volatile.
Is Pocket Option Legal in My Country?
Pocket Option is available in many countries, but it is not allowed in some regions due to restrictions on binary options trading. This includes:
· USA (for most states)
· European Union
· UK
· Canada
· Japan
However, the platform does allow international users to register and trade at their own risk. It’s your responsibility to verify whether binary options trading is legal in your country.
Pocket Option vs. Other Trading Platforms
Compared to platforms like IQ Option, Quotex, or Expert Option, Pocket Option stands out for its:
· Low minimum deposit
· Wide range of assets
· Fast registration process
· Copy trading and tournaments
· Cryptocurrency support for deposits/withdrawals
But unlike regulated brokers, Pocket Option’s legal framework is more relaxed, which may be a concern for some users who prefer oversight by stricter financial bodies.
How to Withdraw Money from Pocket Option
To withdraw your profits:
1. Go to your account dashboard
2. Click on Withdrawals
3. Choose a withdrawal method (must match your deposit method)
4. Enter amount and confirm
Most withdrawals are processed within 24 to 48 hours. Cryptocurrency withdrawals are often the fastest. Be aware of KYC (Know Your Customer) requirements—identity verification may be needed before withdrawal.
There are no withdrawal fees charged by Pocket Option itself, though your payment provider may apply their own fees.
Final Thoughts: Should You Use Pocket Option?
Pocket Option is a user-friendly binary options platform that appeals to new traders due to its low entry barriers, attractive interface, and wide asset selection. If you're looking for a fast-paced, high-risk/high-reward trading style, it offers a simple way to get started.
However, trading binary options is not for everyone. The potential for profit is real—but so is the risk of significant loss. Always educate yourself, use a demo account, and practice disciplined risk management.
If you’re serious about trying Pocket Option, treat it like a tool—not a get-rich-quick scheme. Respect the risks, and you may find it a valuable addition to your trading journey.
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