You may have heard about Pocket Option if you seek a reputable binary options broker. However, because binary options trading may be dangerous, selecting a broker who can defend your interests and mitigate risks as much as possible is essential. So, is Pocket Option a scam?
According to a study by Traders Union, Pocket Option appears to be a somewhat trustworthy binary options broker. It provides lucrative payments, cheap deposit and withdrawal requirements, and robust security measures. But is it the appropriate platform for you? Let’s discuss the Pocket Option’s reliability in further detail.
Is Pocket Options a Scam?
Pocket Option is one of the industry’s most reliable binary options trading platforms. Gembell Limited, headquartered in the Marshall Islands, an autonomous island between Hawaii and the Philippines, is the parent company of Pocket Option.
International Financial Market Relations Regulation Center regulates Gembell Limited and, by extension, Pocket Option (IFMRRC). The IFMRRC registration number for the broker is TSRF RU 0395 AA Vv0158. Note, however, that the IFMRRC is not an official regulatory body, so keep this in mind if you’re contemplating Pocket Option as your trading broker.
Even though the IFFMRRC does not provide tier-one safety for traders, you may find comfort in that Pocket Option complies with anti-money laundering (AML) and Know Your Customer (KYC) standards to safeguard customer information from fraudulent conduct. The KYC and AML regulations require Pocket Option to identify users and monitor their financial behavior. This entails authenticating a client’s identity, residential address, and email address.
Step-by-step instructions on how to sign up for Pocket Option:
- Following registration, you will get a confirmation email, including a link. You may confirm your email address by clicking on the link.
- Enter your personal information, including your complete name and address, in the following field. Then, you must provide a photo or scan of your passport, local identification card, or driver’s license.
- After providing papers to verify your identification, you must additionally supply evidence of your current address. This can be any form of writing bearing your name and address. Acceptable identification forms include a utility bill, a bank statement, or an address certificate.
This Know Your Customer (KYC) procedure protects against hackers and fraudsters attempting to register a bogus account in your name. In addition to the verification procedure, the Pocket Option platform transmits and keeps all uploaded documents securely. And only staff with specialized training may access this information.
However, account creation is not the end of security measures. After creating a Pocket Option account, you will receive access to features such as two-factor authentication (2FA), which prevents illegal account access.
Methods to Avoid Scam
You may take a few precautions to avoid falling victim to binary options scammers. Four steps are recommended for vetting a broker by Trader Union experts.
Determine if the broker is licensed in the first step. Request confirmation that the broker is registered with the Commodity Futures Trading Commission (CFTC). On the website, you can also view their registration details. A registration guarantees that an entity has undergone background checks and complies with trading rules.
Read client testimonials regarding the broker. Reading broker reviews might help you understand what to anticipate from them and if you can rely on their platform.
Verify if the broker’s website offers a transparent trading interface. Determine whether the broker is forthcoming with information about trading conditions and hazards.
You can also read reviews and ratings on the TU website. Consult their in-depth analyses of several binary brokers to choose which one is appropriate for you.
Pocket Option Promo Codes
Currently, Pocket Option gives one promotional coupon to its subscribers. The 50Start promotional code, which can be found on their website, grants consumers a 50% first-deposit bonus. The promotional code is restricted to individuals who have never deposited into their accounts.
Additionally, you will access additional promotions and vouchers during specific months. So you must continue to check promo code for pocket option.
The IFMRRC regulates Pocket Option as a trustworthy binary options trading site. According to our study and research, this is a responsible broker with positive client feedback, safe deposits, and withdrawals. While the Pocket Option is enticing due to its abundance of unique features and assets, you should not overlook its disadvantages. Consider the factors and choose the binary choice that best suits your needs.