POCKET OPTION Review 2023: PocketOption broker experience, fees, discussion, legit, scam

Some use it as a way to make money, while others use it as a way to gamble. These are two-way choices. A product that used to be very popular but is almost impossible to find now. Why? Because binary options can only be traded by professionals after 2018, and most professionals don’t want to trade something so risky. Still, every now and then, a broker like Pocket Option comes along that lets everyone trade binary options.

Pocket Option review at a glance

Pocket Option is a place to trade binary options and contracts for difference (CFDs). Gembell Limited runs the platform. The company has been in business since 2017 and is based in the Marshall Islands.

Both binary options and CFD contracts are types of financial derivatives that let you bet on the rise or fall of currency rates, stocks, commodities, cryptocurrencies, or indices without actually owning them. The broker doesn’t sell actual stocks, commodities, or digital currencies.

To trade binary options, you only need to put up $50. If you want to trade CFDs, you must put at least $5,000 into your account. From $10, you can take money out.

We don’t recommend trading with the PocketOption broker because the company that runs it doesn’t have the right license and breaks ESMA rules, which are meant to protect retail clients from the risks of non-exchange derivatives.


The MetaTrader platform


  • Broker without license
  • High leverage (too risky)
  • It violates ESMA regulations

Pocket Option – Basic Information

Pocket Option, a binary options and CFD trading platform offered by Gembell Limited headquartered in the Marshall Islands provides a range of financial instruments including Forex, Stocks, Commodities, Indices, and Crypto traded through its WebTrader platform or MetaTrader 5 mobile, web, or desktop app with no commission or inactivity fees and no withdrawal fees for payment cards, e-wallets, or cryptocurrencies. PocketOption offers a demo account with a minimum deposit/withdrawal of $50/$10 and minimal trade of $1 for binary options or 0.01 lot for CFDs, with financial leverage up to 1:200 and social trading features.


How does trading work?

One thing needs to be said right off the bat: OTC derivatives are traded through Pocket Options. Trades don’t happen on a real exchange, but on a market that is not open to the public and is run by a broker. Traders on this site don’t actually buy shares, cryptocurrencies, or commodities. Instead, they “bet” on how they will change in the future.

Contracts for Difference (CFD) and Binary Options are the two types of derivatives that Pocket Option has to offer.


We will first talk about binary options.

Binary options are easy to use. Traders try to guess whether the price of a certain instrument (like gold) will go up or down in a certain amount of time. When they guess, they get back between 55% and 92% of what they put in. If they miss, they lose everything they put into it.

Binary options look like a serious way to invest, but they are more like an online casino where the math is against you.

We’ll tell you right away why.

Because trades only last between 5 seconds and 4 hours, you can’t rely on technical or fundamental analysis. There are two choices (the price will go up or down), so you have a 50/50 chance of making the right choice. But if you lose a trade, you lose your whole investment (-100%), but if you win, you only get back about 80% of what you put in.

Another problem is that prices are not set in a clear way, and the broker and clients may have different goals. Because of this, the European Securities and Markets Authority (ESMA) decided in 2018 that only professional traders will be able to use binary options. The assumption is that they know the risks and will be more careful. But Pocket Option goes against this rule and lets anyone buy binary options.


Everyone can trade options that are against the law, but only a few people can trade legal CFD contracts. In particular, people who put in at least $5,000.

CFD contracts are good for short-term bets on whether the market will go up or down, but only if you know what they are and have experience trading. CFDs are not good for long-term investments or for people who are just starting out.


Buying a CFD on Bitcoin is not the same as buying real Bitcoin. You buy a contract that copies the price of BTC on the exchange, so you make the same amount (or lose the same amount) as traders on the exchange. One thing is different, though. Leverage makes both gains and losses bigger, so even a small change in the market can lead to a big gain or loss.

CFD trading is legal, but there are still some rules to follow. This is mostly due to the fact that high leverage is hard for new traders to handle. But the Pocket Option also breaks this rule because it lets you use up to 1:200 leverage (a maximum of 1:30 is allowed).

Fees at Pocket Option

PocketOption has low fees, but they are not clear, so traders have to keep track of all the fees.

With PocketOption, there are no fees for trading binary options. When trading contracts for difference, the costs include the spread (the difference between the price of buying and selling), swap (a fee for trading overnight), and possibly commission (a fee for arranging trades).

Signing up and managing your account are both free. Withdrawals and deposits should also be free.

Registration, deposits, and withdrawals

It only takes a few minutes to set up a trading account. Just put in your email address and a password of your choice, agree to the terms and conditions, and you can start trading. But…

You can deposit money almost as soon as you sign up, but it’s harder to get your money back. Before you can ask for a withdrawal, you must first prove who you are. This means putting in all of your personal information, filling out a questionnaire about your income, and uploading a copy of your ID, passport, or driver’s license.

Experience with Pocket Option

Gembell Limited, which has been in business since 2017, runs the platform for Pocket Option. The company is registered in the Marshall Islands, but we cannot rule out that this is only a virtual address. At the same address, there are also a number of other businesses.

Gembell Limited does not have a license, so it is not allowed to offer investment services in the Czech Republic or other EU countries. The broker’s activities are not supervised by any European authority, clients’ money does not have to be insured, and in case of problems, clients cannot turn to any regulator.

Also, listen to what business managers say and look at the business signals that are right on the platform. It is very risky to listen to a broker’s investment advice because you and the broker have different goals:

CFD contracts and binary options are not traded on a real exchange. Trades happen in the system of a broker, who acts as the other side of your trades. If you do well, the broker does poorly. And conversely.

Final summary

Pocket Option sells over-the-counter (OTC) derivatives that are risky and don’t give traders much of a chance of success. With binary options, the odds are against you, and with CFD contracts, the high leverage will get you in trouble.

Brokers who are regulated say that between 74% and 89% of small traders lose money on average. This number isn’t made public by brokers who aren’t regulated, but it’s safe to assume that the share of loss accounts will be even higher.

Given how over-the-counter derivatives work and the risks that come with them, we think it is absolutely necessary to work with a licensed broker. Pocket Option, on the other hand, does not have a license and also breaks the ESMA regulation.

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