Do you wonder what is the best forex broker in 2023? Here is the answer.
Pocket Option is an international derivatives company focusing on binary and over-the-counter options for forex, stocks, and cryptocurrencies. Our user review tells you about average returns, copy trading, minimum deposits, payment methods, and withdrawal fees.
Here, we break down the pros and cons of trading with Pocket Option and give a detailed review.
Compared to companies that only offer binary options, our experts found that Pocket Option has a reliable trading tool with a wide range of assets and time frames. The charts are also very good.
Why Is Pocket Option Trading Simple?
Pocket Option trading is super simple. The platform has a trading programme that it uses only for itself.
The deal combines all of the broker’s features and assets in one place, making it easier for beginner and experienced traders to trade.
The trading platform has 14 timeframes, ranging from 5 seconds up to a day, 4 charting types, 31 technical indicators, 9 graphical tools, 4 charts simultaneously, copy trading, alerts, social trading chat, and account management.
Compatibility of Devices
- You can get to the broker’s site in a few different ways:
- The web-based client is built into the Pocket Option website Desktop software app that is free to download for Windows (including Windows 10) and Mac computers
- The app can be used on both iOS and Android systems
- How to Buy a Binary Option Trade
- It’s easy to start a deal on the Pocket Option platform.
How to trade on Pocket Option?
- Choose an item from the drop-down menu on the left side of the panel.
- Enter the trade settings in the trade order widget to the right of the chart.
- Pick a time limit (from 5 seconds to 4 hours).
- Choose how much you want to put in, between $1 and $1,000.
- Check the amount and portion of what you could win.
- Click ‘Higher’ if you think the price will go up.
- Click ‘Lower’ if you think the price will go down.
Assets Offered By Pocket Option
Pocket Option lets you buy and sell binary and over-the-counter options on over 130 base assets in four classes.
There are more than 40 Forex pairs on the website. Pairs like USD/GBP and NZD/JPY are less well-known than the big pairs.
Pocket Option has several over-the-counter (OTC) metals. Gold, silver, platinum, UK Brent oil, US Crude oil, and natural gas are some.
Stocks: There are more than 30 stocks to choose from, and some of the best ones are Apple, Pfizer, HP, and Google.
The broker has ten cryptocurrencies, including Bitcoin and Ethereum.
Costs and Payouts
As a broker for binary options, Pocket Option doesn’t charge any profits or fees for things that aren’t trades. Instead of a spread, the broker tells you how much money you can make from each product.
Most forex payments are 81% for EUR/GBP, 73% for GBP/USD, and 92% for USD/RUB.
Netflix pays out 57%, McDonald’s pays 77%, and Microsoft pays 71%.
How Leverage Works in Pocket Option
The most you can borrow from Pocket Option is $1000. If you put down $100, you can trade with up to $100,000.
Always be careful when using leverage. It can help you make quick money in dealing, but it will also make it harder to lose money in real-time.
A mobile app for Pocket Option
The online trader has a mobile app that can be downloaded easily. The app works on both APK and iOS devices.
The app works perfectly and doesn’t have any bugs. It’s easy to use and has a lot of help, so it’s great for people who still need to learn how to use it but want to.
Mobile traders also have access to the financial markets 24/7. They can use live signals and copy trading, handle their accounts fully, and get accurate quotes without delays or requotes.
Methods of Payment Deposits
In HindustanTimes that says, Pocket Option works with over 50 payment methods and has no fees or wait times for account filling.
Debit and credit cards, wire transfers, and internet payment services like Fasapay can be used to make deposits. Transfers of cryptocurrencies are also possible.
The minimum deposit fee is $50.
As we have des ribbed in our detailed review, Pocket Option is the best broker in 2023 with hundreds of benefits, an easy interface and vast access to financial markets 24/7.