The Facts
Pocket Option is a binary options broker concentrating on crypto currency, forex and Over The Counter (OTC) options.
In fact they have over 100 assets to trade and certainly the biggest selection of crypto currencies to trade that we have seen.
They are owned by a company called Gembell Limited and registered at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960 with the registration number 86967.
They are regulated by IFMRRC (License number TSRF RU 0395 AA Vv0124)
As far as we can see they have 45 deposit and withdrawal options and all the top crypto currencies.
There is a free demo account that does not expire and can be topped up when required.
There is also a copy trading facility for live accounts, which seems to be quite active.
They seem to accept traders from everywhere, including the USA and Europe, except Germany as far as we can tell.
The platform is an online trading platform that is really nice and fast and they have just introduced a bot that you can download and use to trade from an MT4 terminal.
They also allow robot trading and that is how we were able to create a bot to work with their platform.
The live chat response is generally very prompt and is accessed from within the Help section inside your account and that is a big positive.
Due Diligence
Seems that the Marshall Islands are somewhat of a tax haven and an easy place to set up an offshore company and banking services.
The Marshall Islands do not have an official regulatory body overseeing any type of trading as far as we could see, however Pocket Option is regulated by IFMRRC which leads us to ask who IFMRRC is.
IFMRRC stands for the International Financial Market Relations Regulation Center
You can read their About Us here
Here is a snippet from their About IFMRRC page:
International Financial Market Relations Regulation Center (IFMRRC) is a non-commercial organization created for the purpose of regulating the quality of services provided by brokers and dealing centers, as well as the reliability of services provided by participants of the cryptocurrency market: cryptocurrencies, cryptocurrency exchange markets, cryptocurrency cloud mining services and companies, which attract investments through ICO.
Summary
The IFMRRC seems to have been created in response to there being a lack of regulation in the crypto currency markets.
How independent or strong this regulation is, remains to be seen.
Well at least some regulation is better than none.
It appears that Pocket Option has seen a gap in the binary options and crypto currency market and have set up to satisfy that demand by going offshore and with an independent regulator.
We noted that Pocket Option website came online in July 2016 and is paid up to July 2021
We have had no issues at all trading with Pocket Option and the withdrawal and deposit process has been super smooth and easy. We used Skrill.
The minimum withdrawal is $10.
They do offer bonuses and these can often create issues as they require a certain amount of trading volume before a withdrawal can be made, so just make sure you read all the small print if accepting any type of bonus to avoid any misunderstandings.
As with all brokers, we recommend not leaving large amounts in the account and to withdraw profits regularly.
So far, so good with Pocket Option and we are quietly confident with this broker.