Founded in 2017, PocketOption is a non-regulated binary options broker offering trading across 150 assets on a user-friendly, web-based platform in 14 languages. Pocket Option is especially interesting for beginners to binary options trading with minimum bets at just $1 and the live trading account available with a $50 initial deposit. We were pleased to see that Pocket Option offers clients $10,000 of virtual money to practice on a free demo account and provides free apps for trading from mobile phones and tablets on the move. Customers in South Africa are welcome.
Pocket Option South Africa
The high-tech platform at PocketOption is a proprietary software developed in-house for the exclusive use of registered PocketOption customers. The platform offers more than 150 assets and illustrated charts for trading with accurate quotes from reliable liquidity providers, without delays. Importantly, the platform provides stable communication with users and gives access to financial markets, from 10 pm GMT Sunday until 10 pm GMT Friday.
The promised payouts vary with each asset, but we did see that payouts up to 96% are possible on the trading platform. However, we were not able to test the live trading environment to verify the claim by PocketOption. Traders find the menu for navigating around the platform on the left side of the platform. The center of the platform is occupied by a dynamic chart and information about trading executed by other customers on the trading platform in real time.
It is very easy to login to Pocket Option and you can do it without making a deposit. After you do Pocket Option login you get access to the trading platform so you can see how the real trading platform looks like.
Mobile trading apps are available for Android and iOS powered phones and tablets in the Google Play store and in the Apple app store. Notably, with the PocketOption trading app, customers have stable access to the trading platform and the complete range of trading assets and tools.
Pocket Option Demo
Before trading with real money, customers can try out the trading platform at Pocket Option through a Demo account. Clients must fill in the regular account registration form and before depositing any money to the new account, click on the ‘Start with one click’ button. Immediately, clients are taken to the Demo version of the trading platform and allocated $10,000 of virtual money to trade with as they please.
The trading environment is very similar to the live platform, with the same tools and settings found on the live platform. Notably, we could see the complete asset list, expiry times and different pay-out possibilities for each asset type. Importantly, traders can’t lose real money in the demo account and can try out all sorts of interesting trading strategies without worrying about consequences. Occasionally a reminder pops up, telling customers to deposit real money to the live trading account but it can be clicked closed until clients feel ready to move to live trading.
Pocket Option Minimum Deposit
Pocket Option minimum deposit is $50.
Seven account levels are offered to clients signing up with Pocket Option broker. Whilst we could see the basic requirements for each level, any additional benefits included with each account level, can only be seen at the time of making a real money deposit. The levels are listed below.
- Stranger – 0 bets
- Newbie – minimum initial deposit $50. 1+ bets
- Beginner – minimum initial deposit $100. 100+ bets
- Experienced – minimum initial deposit $500. 1,000+ bets
- Master – minimum initial deposit $1,000. 3,000+ bets
- Pro – minimum initial deposit $3,000. 5,000+ bets
- Guru – minimum initial deposit $5,000. 10,000+ bets
Customers who register an account at PocketOption are offered the possibility of depositing in USD or with cryptocurrencies to their live trading accounts. The range of payment methods is truly vast, spanning credit cards, electronic payment methods such as Skrill, Neteller, PayPal, WebMoney, and bank wire transfer. Customers in South Africa and elsewhere will be pleased to see that there are no deposit or withdrawal fees charged by PocketOption. Moreover, customers are given the opportunity to buy cryptocurrencies over exchanges connected with PocketOption using USD. Available cryptocurrencies include Bitcoin, Ethereum, Dash, Litecoin, Dogecoin, zCash, Blackcoin, and Emmercoin.
We were interested to see that Pocket Option offers bonuses to customers. However, we couldn’t find any information about the bonus terms and conditions on the website. In our experience, bonuses offered by Forex brokers require a large trading volume to be completed before any money can be withdrawn from the trading account.
Often the requirement is extremely difficult to fulfil and can create problems for clients wanting to cash out funds. We recommend that traders read the bonus terms and conditions when an offer is made by PocketOption, and decide whether to accept, based on that information. Importantly, bonuses are not mandatory, but only incentives to customers, providing a boost in investment capital and the chance to increase potential profits.
Pocket Option Robot
Social trading is an important part of the trading activities at PocketOption, with clients given the possibility of effortlessly copying the trades of successful traders. We were surprised to see that instructions about using the copy trading feature are not given on the live trading platform. There is no standard Pocket Option robot but copy trading should do just fine. Subsequently, we recommend that interested traders in South Africa and overseas, practice with this feature on the demo platform, before risking real money.
We discovered a unique reward program at PocketOption where traders earn ‘gems’ that can be exchanged for trading bonuses. The gemstones are varied, with some rarer than others and harder to collect. Depending on the value of the gems collected, traders get Bronze, Silver or Gold awards. Gems are earned by the trading volume executed on the trading platform and from the type of trading. For example, successful traders in South Africa and further afield, who are copied by other traders on the social trading platform, earn gems for their achievements.
Pocket Option Scam
Customers can get support through the live chat helpline by going to the contact page on the website and clicking on the live chat tab if they are not active on the trading platform. Those traders using the demo or live trading platform have a live chat button directly on the interface, so they don’t need to quit the trading room to ask for help. Alternatively, traders can phone the toll- free number in the UK or send an email to the support team. For customers in South Africa, the live chat option is by far the best, as its convenient and free.
Further support is provided by PocketOption through the educational tutorials provided on the website to registered customers.
We found various complaints about PocketOption scam and therefore we can’t recommend trading with this broker.
Tip: Consider IQ Option South Africa with a minimum deposit of only $10!
PocketOption is owned by Gembell Ltd, registered at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 with the registration number 86967.