Pocket Option is a binary options broker that has been providing trading services since 2017. This platform is known for its user-friendly interface, wide range of assets to trade, and innovative features. However, like any other service provider in the volatile world of financial markets, it also has its share of pros and cons.
One major advantage of Pocket Option is the accessibility it offers to traders worldwide. It accepts clients from over 95 countries and supports multiple languages on its platform. This makes it an attractive option for international traders looking for a reliable binary options broker.
Another significant advantage is the variety of tradable assets available on Pocket Option. With more than 100 different assets to choose from including forex pairs, stocks, commodities, and cryptocurrencies, traders have ample opportunities to diversify their investment portfolio.
Pocket Option also stands out due to its social trading feature which allows users to copy trades made by successful investors automatically. This feature can be particularly beneficial for beginners who are still learning about market trends and effective trading strategies.
Moreover, Pocket Option provides educational resources such as webinars and video tutorials which can help new traders understand the basics of binary options trading. They also offer a demo account where one can practice trading without risking real money – another plus point especially for novice traders.
However, despite these advantages, there are certain drawbacks associated with using Pocket Option as well. One notable concern raised by users is regarding their regulatory status. Although they claim to be regulated by the International Financial Market Relations Regulation Center (IFMRRC), this body isn’t widely recognized or respected in the industry compared to others like CySEC or FCA.
Another potential downside relates to customer support service offered by Pocket Option. Some users have reported slow response times when seeking assistance which could be frustrating especially during critical moments in trading activities.
Lastly, although they provide a wide array of payment methods including credit cards and e-wallets like Skrill and Neteller, they do not support bank wire transfers. This could be a deal-breaker for some traders who prefer using this traditional method of payment.
In conclusion, Pocket Option offers an attractive package to binary options traders with its wide range of assets, user-friendly platform and innovative features like social trading. However, potential users should also consider the drawbacks such as questionable regulatory status and lackluster customer service before deciding to use their services. As always in financial markets, thorough research and due diligence are key to making informed decisions.