Stable work of a broker is the most important factor in how to make money on binary option. Delays in trade execution, non-market quotes and constant requites lead to losses on any strategy. I also want the binary trading sites to develop: new trading assets and trading opportunities appear, as in PocketOption.
History and licenses
According to the official website, the owner of the PocketOption trademark, Gembell Limited, began operations in 2017. As of January 2020 yr, 100 000 was announced active accounts in 95 countries, turnover 500$ million dollar (not specified for what period) with an average trader’s income of 850$ per month.
Check real data, or it’s just advertising will fail. If the turnover is indicated for the year, then the broker is in the «medium» category, although, according to reviews, there have been no problems with liquidity yet.
Like most binary options brokers, an offshore jurisdiction has been selected – Republic of the Marshall Islands. The registration number is correct; the information about the owners is hidden, nothing unusual.
Let’s move on to licensing. There is only one document on the site – the certificate of non-profit organization «International Financial Market Relations Regulation Center (IFMRRC)», the main purpose of which, according to the regulatory documents, is «control over the activities of organizations providing services to access financial markets, arbitration of disputed situations and compensation for losses to customers». How it really works is unclear, we could not find information on the Internet, make a decision on your own about cooperation with PocketOption.
You cannot change jurisdiction when opening an account, and there are restrictions. So services are not provided to residents of the EEA (European Economic Area), USA, Israel and Japan. See the full list on website.
Accounts and trading assets
After registration in binary trading platforms, seven types of accounts are available:
Opened immediately after registration with a «virtual» 10 000 dollars. The amount and number of options is not limited. The account allows novice traders to gain experience without losing real funds.
All STRANGER features plus:
• Trader Chat;
• Bonuses for adding funds to your account;
• Tournaments with prizes;
• Max trade amount $1000;
• Copy trades (Social trading).
• Gems lottery;
• Express Trades;
• Trading achievements.
• 2% to the current profit of the option;
• MT5 forex trade and exact binary option strategy;
• Premium gifts;
• Extended list of items in the market;
• 4% of the current option profit;
• Return of the option up to $10 at the close of 1 point from the opening price;
• Withdrawal processing priority;
• Maximum transaction volume up to $2000;
• Personal discount in the market.
• 6% to the current profit of the option;
• Return of the option up to $50;
• Personal manager;
• Maximum volume up to $3000;
• 8% to the current profit of the option;
• Return of the option up to $ 50;
• Personal manager;
• Maximum volume up to $ 3000;
As trading instruments: currency pairs, cryptocurrencies (digital money), stocks, commodes (gold, oil) are available. The binary trading platform offers only classic CALL/PUT options a duration from 1 minute.
On Saturday and Sunday, when the Forex market is closed, you can trade major currency pairs on OTC (Over-The-Counter) quotes. OTC prices are made by a broker and are not related to the real market. Use them only as learn binary trading option!
You can trade on any desktop (computer, laptop) and mobile (smartphone, tablet) device running Windows/ Android/ iOS both through the WEB and by installing the software application. You can also receive free binary signals using the Telegram channel.
For trading on exact binary options strategy, there is a complete set of technical analysis tools: trend indicators, oscillators and graphical constructions (lines, rays, Fibonacci levels, etc.). The tool configuration is retained when the terminal is closed.
Analytics, affiliate program, deposit refill
Training materials are presented by webinars to learn binary trading options, answers to frequently asked questions (F.A.Q) and instructions to the PocketOption trading platform. Individual training is available for Pro and higher deposits.
As an alternative to self-trading, you can use “Social trading” with copying transactions to your terminal. The rating of traders is updated daily; two binary option trading signals modes are available: fully automatic or manual confirmation. The trader sets the volume of the transaction independently depending on the size of the Deposit and trading purposes.
«Express How-To» options allow for greater profits, you only need to select at least two assets to open «in one click». Beginners like such fast trading, the main thing is not to give in to excitement and always follow money management.
In addition to the affiliate program, some regular bonuses and promotions allow you to start trading with minimal investments or even without them. Full set of graphic and text advertising materials to receive the reward:
- for placing affiliate links on the pages of sites, groups in social networks, articles about binary options, paid indicators, strategies, binary options signals;
- pay-per-click graphic banners for placement on specialized websites, forums and signal copying services;
- bonuses from referred customers:
- Competitions for partners – additional commission is charged, and you can win an incentive prize;
- Up to 80% of each replenishment of the deposit by attracted clients;
- Passive interest on the balances of referral deposits;
- Commission from turnover – the more actively referrals trade, the more income.
You can further increase your profit by opening a regional representative office of PocketOption or working under your own brand (IB-broker). You only need to attract new customers; the head office is engaged in technical support of the auction.
The trader can choose the most convenient method for paying a deposit: Visa / MasterCard or electronic money. Commissions are within acceptable limits, replenishment instantly for digital money and no more than 10-15 minutes for transfers and cards.
Do not forget about the verification (confirmation) of personal data. This is a prerequisite for withdrawing a large amount from a trade deposit. The verification process takes 7-10 days; the support service may request additional data, so it is better to start the process immediately after opening the account.
What to do with reviews?
It is always useful to listen to the opinions of others, live trading signals is one of the hottest topics. There are more than enough reviews and discussions on forums and websites. At the same time, it is logical that negative information spreads faster. When everything is good, it makes no sense to write, and you can believe in the absolute futility of trading in the financial markets. It is important to cope with emotions and understand that negative reviews can have the following reasons:
- Novice traders. Always high expectations, constantly changing strategy for binary options, searching for «Graal». Everything is done except studying the theory and features of trading – this does not lead to good results.
- Loss aversion. Despite the fact that the sites have «Terms and Conditions» few read them, they are taken seriously even less. Newbie’s dream of millions, in addition, it is difficult to find a type of activity in everyday life that provides for such personal responsibility for making decisions. When it is wrong, the «bad broker» is again to blame;
- Reluctance to share profits. Nobody likes to give back what they earn, but you need to understand that binary broker is not a charitable organization and also wants to make money. This fact is not perceived by all traders, especially those who want profits on short-term trading binary signals, especially at the news release, when using MT5 forex trading you can open opposite deals. Earnings are rolling regardless of the direction of the market. If a broker does not allow himself to be robbed in this way, he naturally gets the title of «bad».
Summarize. It will be useful for both beginners and professional traders to open an account (even a demo account) on PocketOption, perhaps you will find new opportunities for yourself to earn money and further study how binary option signals work.