Pocket Option

Pocket Option Islamic Accounts Review

Pocket Options is a binary options broker that provides access to over 100 different assets ranging from Forex pairs to company shares and cryptocurrencies. The brokerage offers regulated services for clients in more than 95 available countries and regions, including the United Kingdom, the United States (USA), India, and Europe. This Pocket Option Islamic Review will help you learn more about Pocket Options, ranging from resources and mobile apps to regulations and fees. Learn how to open a trading account today through pocket options.

Trading Platforms

Pocket Options offers two commercial trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both are available as an online web trading app or a desktop application, which you can download from the company’s website for Windows (inc. 10) PC and MAC OS.

MT4 and MT5 are world-renowned platforms that offer a wide range of charting options, technical indicators, deadlines, additional features, and drawing tools.

The MetaTrader online platforms also have flexible API support that allows traders to integrate an automated robot, a telegram signal bot, a copy trading tool, or an official specialized trading keyboard.

Pocket Options has also created a web-based trading platform that is easy for newcomers to use and focused on being hassle-free.

The web app contains clear reports of all standard order types, customized indicators, transaction history, net worth, and past performance.

ExpertOption
  • Maximum Profit: 96%
  • Minimum trade: $1
  • Minimum deposit: $50
  • Assets: 100+ Crypto, Stocks, Commodities, and Currency Pairs
  • Platform: Web, Android, iOS, and Windows

Pocket Option Headlines

The Pocket Option was founded in 2017 by its current owner, Gamblel Limited. The company’s office is headquartered in the Marshall Islands, and they have created a big wave in the world of binary options.

Pocket Options is fully regulated by the International Financial Market Relations Regulation Center (IFMRRC).

Pocket Options has over 20,000 active users daily and over $ 500 million trading turnover. They cater to almost anyone looking to sign up and trade binary options from over 95 countries.

Pocket Option Islamic Accounts Review – App Drawbacks

However, the web app cannot set pricing alerts or notifications and has the option of logging in only one step without additional verification through Google Authenticator or similar systems.

With the Pocket Options platform, binary options trades are easy to understand and intuitive to place. In addition, the amount of pay-out, including the time to purchase and the expiration date, is clearly stated.

Brokers also specialize in fast transactions; The standard expiration time for this express trade is 30 seconds.

Everything is clear for the traders, and the platform even shows which way most users are trading at that time.

ExpertOption

Markets

The Pocket Option offers four tradable asset classes: forex pairs, cryptocurrencies, stocks, and commodities.

  • Forex Pairs: The trading platform offers over 30 major, minor and exotic forex currency pairs.
  • Stocks: The platform has various shares available to trade, all pooled from US exchanges. There are over 30 shares, including Facebook, Apple, and Boeing.
  • Cryptocurrencies: The Pocket Option has more than 30 cryptocurrencies for trading. Including the most popular coin like Bitcoin and Ethereum and many other tokens.
  • Commodities: There are 4 commodities are offered on Pocket Option. Those are UKBrent (North Sea crude oil), USCrude (Western Texas crude oil), silver, and gold.

Fees & Pricing

As an expert broker in binary options trading, pocket options have a relatively low fee. They do not charge a commission when trading on a live account, so you do not lose any of your profits. There is also no deposit, withdrawal or inactivity fee.

Clients can expect competitive pay-outs through Pocket Option. In addition, some example profits for binary options trades on different forex pairs include:

  • McDonald’s OTC: 92%
  • GBP/USD: 85%
  • EUR/USD: 89%
  • GBP/EUR: 59%
  • For stock traders, examples include:
  • Apple OTC: 92%
  • Microsoft OTC: 78%

Cryptocurrency binary options trades have slightly lower profits due to their volatility, generally around 45%.

Pocket Option Islamic Accounts – Leverage

Pocket options do not have a specific leverage level that you must abide by, although there is a maximum 1: 1000 rate. This means you can put down $ 10 and trade with 10,000.

However, always keep in mind that trading with leverage increases your potential profits and your losses.

Pocket Option Islamic Account – Mobile Trading

Pocket Options includes a functional mobile app designed for APK (Android) and iOS (Apple). The app is excellent for on-the-go trading. It has all the necessary charts and order types. In addition, the design is easy to navigate and user-friendly.

Through the app, traders can set up notifications and price alerts, which come in the form of helpful mobile notifications. The app, however, does not support fingerprint or facial recognition login.

Payments

The Pocket Option does not charge a deposit fee and is reasonable during processing, usually about one to two business days. The minimal deposit is $ 50 and any deposit must be made in USD, as it is the only base currency in the pocket option.

There are 3 easy methods via which users can deposit funds:

  • Debit/Credit Card (e.g., Visa debit)
  • Bank Transfer
  • Electronic Wallet Transfer (e.g., Coinbase).

It also offers free pick up pocket options. The minimal withdrawal amount is $ 10, and there is no maximum withdrawal limit.

Generally, funds with proof will be received within 24 hours. Traders can raise funds through the same payment method they deposit.

Unfortunately, withdrawal options are only available in USD, which can lead to problems such as banks charging conversion fees.

Pocket Option – Demo Account

Pocket Option broker does offer a free demo account and application without the need to open a live online trading account first. Anyone can start a free demo account, log in and practice trading. Moreover, no deposit of real money is required to use a free demo account.

In demo account, Pocket Option gives you 10,000 USD to trade with. This funds can be recharged if it is lost. The free demo account section aims to help traders learn to navigate the platform and execute trades.

The demo account is the ideal place to practice and develop the best approach for traders, be it a 30 second, 1, 2 or 3 minute 2022 trading strategy, a zig zag strategy or a YouTube OTC strategy.

Pocket option trading

Pocket Option Islamic Account – Bonuses & Promotions

New Pocket Option offers two different promotional deals for customers. The first is the 50% bonus on your deposit. Anyone eligible for this deal and no referral code is required, just deposit the minimum required $ 50 and receive your bonus.

The more capital traders put in at the beginning, the more cash you will get in this deal. For example, if traders deposit 100, you will receive 50 USD but, if you deposit $ 1000, you will receive an impressive $ 500 bonus.

The only rule in this promotion is that you have to trade a certain number before you can withdraw money.

Another pocket option promotion is the $ 50 no deposit bonus. Using promo code ‘NBD-promotion’, new customers can get 50 bonus.

To access this bonus, easily register for an account using the provided promotional code and receive your funds. Bonus can be withdrawn only after completion of several trades.

Look for other time-limited bonuses, such as promotional codes from June 2021 that have increased deposit bonuses for new clients.

Pocket Option Review – Licensing

Pocket Options, and its owner, Gembel Limited, is regulated by the International Financial Market Relations Regulation Center (IFMRRC). However, it is not an official financial regulator, and they do not offer Tier 1 Regulation, which means that features like Trader Insurance are not provided.

This does not mean that pocket options are a scam, but caution should be exercised, especially as some consumer reviews claim price manipulation.

The broker adheres to the anti-money laundering policy as well as the Know-Your-Customer (KYC) policy. In addition, all employees are trained to prevent fraudulent misconduct.

Pocket Option Islamic Review – Additional Features

Pocket Option broker has a variety of unique features that set it apart from other brokers like Nadex, VideForex, BinaryCent, and Quotes, including:

  • Tournaments: This accepts traders to compete against other investors for prizes. See how traders compare to others and make trading a little more exciting.
  • Social Trading: This extra feature accepts you to view and track other traders’ habits and strategies to learn from them. Traders can see the successes that other traders demonstrate or avoid any mistakes they make.
  • Achievements: These are earned through tournaments and are shown off to other online traders as a fancy badge. The Earning achievements can also grant you better pay-outs, trading funds and other perks to enhance your trading experience.

Account Types

There are 2 different types of trading accounts available in the pocket option: a demo account (described earlier) and a live account.

A live trading Pocket Option account can be opened with just $ 50 deposit and gives you access to over 100 financial instruments. In addition, traders also have access to other benefits like cashback, social trading, signals and much more.

Pros Of Pocket Option

  • No commission
  • Over 100 assets
  • Low trading fees
  • 50% deposit bonus
  • User-friendly interface
  • High average pay-outs
  • Demo account available

Cons Of Pocket Option

  • Relatively simple platform
  • Limited expiry time on trades
  • No additional login verification
  • Only one account type is available
  • Not regulated by an official regulator

Trading Hours

There are various resources available for trading 24/7 in pocket options. The main Forex sessions run from 21:00 UTC Sunday to 21:00 UTC Friday

However, over-the-counter (OTC) assets such as GBP / USD and EUR / USD can also be traded on weekends. This session begins on Friday when the main session closes. If you do not use UTC, translate trading hours by time zone.

Other assets like cryptocurrency do not have specific market time and can be traded 24/7 in pocket options.

Pocket Option Islamic Review – Customer Support

Good customer service level in pocket option. There are different ways to communicate, which means you can reach them 24/7, even on weekends.

If you have a problem like something is not working or loading, your expiration or contract is wrong, they have a live chat system on their website or they can be contacted via Twitter, Facebook, Linkdin, Instagram, and other social media.

If you can’t chat, it’s possible to fill out a contact form on their website and they’ll come back to you later. This broker can also be contacted by phone or email address.

  • Phone: 1 (800) 982 – 1251
  • Email: support@pocketoption.com

Pocket Option Review – Security

Security is an area where there is a slight lack of pocket options While the overall security of apps and websites is relatively strong, web apps, desktop apps and mobile apps all support one-step login.

There is no substitute for using additional verification methods to make your account more secure, which can make traders account more vulnerable to hacking.

Pocket Option Accounts – Conclusion

Is Pocket Options trading halal? 

Pocket Option does not charge interest or swap from their traders belonging to the Islamic faith. Hence, many traders from Islamic countries trade with the Pocket Option online trading platforms.

Pocket Option offers many great features that will excite newcomers and experienced traders alike. They distinguish themselves from other forex, stock, and CFD brokers, focusing on binary options.

Pocket Option has a transparent, competitive fee structure, easy-to-use platform, and impressive bonuses and social trading support, although it lacks security. Open a free demo account, practice your strategy and start trading with Pocket Options today.

Pocket Option Islamic Accounts – FAQs

Where are pocket options regulated?

The pocket option is regulated by the Marshall Islands International Financial Market Relations Regulation Center (IFMRRC). It is not a government regulator with first level protection for traders.

Does Pocket Options offer a demo account?

Yes, Pocket Options offers a demo account. Traders and users can sign up for free and practice in a risk-free environment with a $ 10,000 virtual fund.

How much capital do traders need to trade with pocket options?

To trade with pocket options, you only need to deposit a minimum amount of $ 50. You can trade on platforms for as little as 1.

Are pocket options valid?

Yes, Pocket Options is a legitimate broker. These are regulated by IFMRRC and adhere to anti-money laundering and your-customer-knowledge policies.

Is there a mobile app in the pocket option?

In addition to supporting MT4 and MT5 mobile platforms, Pocket Options has its own mobile app. All of these can be downloaded on both Android and iOS devices for on-the-go binary options trading.

What is a Pocket Option Green Gem?

Gems are prizes awarded by Pocket Option for clients participating in their Gem Lottery event. These gems are not explicitly explained but you can earn a blue, red or green gem for how much you bet on the weekend. Each gem can be redeemed for various gifts and trading prizes.