Reading Time: 3 minutes SCAM RECOVERY

Pocket Option Review 2021 – Another Scam Broker?

Mar 8, 2021
Pocket Option Broker

Pocket Option – new broker on the market. In our review, we decided to check if this broker is trustable, and should you invest your money with them. Here are the results of our review.

Regulated by:IFMRRC certificate
Headquarters Country:Marshall Islands
Foundation year:2017
Supported Platforms:Web Trader, Mobile Trader
Types of Assets:Forex, Commodities, Cryptocurrencies

Pocket Option Regulation and Security

Broker was founded by Gembell Limited, a company whose location is in the Marshall Islands. We wanted to answer the main question for any trader – is Pocket Option regulated.

One year after establishing, in 2018, the company got a certificate from the Russian non-profit organization IFMRRC. This certificate, however, does not come from a top-tier regulatory body, which is why we can say that regulation is fictive, and this broker is unsafe.

Another thing that we came across is that they do claim on their website that they are associated with FINRA (the US) regulatory body, and yet, not accept the clients from the US.

Warnings From Financial Regulators

We decided to check if anyone else shares our opinion on this shady broker. What we were able to find is that Italian CONSOB issued a warning against Pocket option broker, considering it a scam.

Broker regulation does not exist, and this gives an answer to the question is Pocket Option legit. Long story short – no.

Also, we found an FCA warning against binary options trading, it is forbidden in the UK since 2018. Therefore, if you are from the UK, and trading with Pocket Option, be aware!

In Which Countries is This Broker Operating?

As its website says website, broker does not accept clients from the EEA zone, Israel, the US, and Japan.

They do operate in the CIS countries, Malaysia, Hong Kong, South Africa. Why is that? Because it is not regulated by any top-tier regulator, such as FCA or CySEC.

Yet, if you stop and read reviews of their customers, you will see clients from Czech Republic, Netherlands, the US. Now we have a question – how is this broker operating in forbidden countries?

Pocket Option Review

Trading Instruments

Broker offers over 100 trading assets such as FX, commodities, and cryptocurrencies. The company decided to go with put and call options and 2 methods of trading – fixed and digital. 

Broker is using Web Trader and Mobile Trader and offers a demo account, copy trading system, and auto trading.

The minimum deposit available is 5$ for Russia and Asia and 50$ for any other country, while the minimum trading amount is 1$. Depending on the deposit method and the deposit amount this broker is offering its clients bonuses up to 50%. 

Also, this broker has a tournament going on and clients can win up to 125$.

Scammed by Pocket Option? What to do?

If, despite our Pocket Option review and all the warnings, you did decide to start with this broker and got scammed, do not worry!

We can help you out! Start your chargeback process immediately!

Is Pocket Option regulated?

Pocket Option has a certificate from the Russian non-profit organization IFMRRC but does not have any direct regulation. Therefore, it is considered an unsafe broker.

Where is Pocket Option located?

Pocket Option, or rather the company owner Gembell Limited is based in the Marshall Islands.

Is Pocket Option legit?

Pocket Option does not have any official regulation for conducting financial services, therefore, we can say it is not legit.

What is the Pocket Option minimum deposit?

The minimum deposit you can make with Pocket Option broker is 5$ for clients from Russia and Asia and 50$ for any other country.