Pocket Option Review – Is Pocket Option a Scam Broker?
- Website: https://pocketoption.com/
- Website Availability:
- Address: Costa Rica
- Warning: Not Recommended By Proupshot
- Website Domain Age:
- Name POCKETOPTION.COM
- Registry Domain ID 2044881027_DOMAIN_COM-VRSN
- Registered On 2016-07-21T06:36:42Z
- Expires On 2028-07-21T06:36:42Z
- Updated On 2023-07-11T17:49:39Z
Pocket Option Warning Signs That Shouldn’t Be Ignored
What is the Pocket Option?
Pocket Option is an online broker for binary options trading. It is said to give its users easy access to financial markets with its trading features. Pocket Option offers demo accounts for work practice applications and Pocket Option apps for mobile users. There are concerns about its legitimacy.
Regulatory Issues and Warnings
The most alarming aspect of Pocket Option login is that it has no regulatory coverage. It earlier had a license from the Mwali International Services Authority (MISA), but it has now been cancelled. Thus, Pocket Option trading is entirely unregulated.
It has been flagged by several financial regulatory bodies as unauthorized:
- The Financial Conduct Authority (FCA) Issued a warning against Pocket Option.
- The Belgian Financial Services and Markets Authority (FSMA) has listed Pocket Option under the label of a fraudulent platform.
- The Commodity Futures Trading Commission (CFTC) also warned that Pocket Option does not possess the required authorization.
Misleading Company Claims
Pocket Option is said to be operated by Gembell Limited, registered under the Marshall Islands Registry (IRI). But records show this entity has been dissolved. Furthermore, the International Financial Market Relations Regulation Center (IFMRRC), which Pocket Option claims to regulate it, does not cover forex activities.
Is Pocket Option Safe?
The funds of investors are not legally protected since Pocket Option is not supported by any proper regulatory body. Users stand to lose money with no way of recovery if there is a lack of oversight.
Why You Should Be Cautious?
We have been tracking fraudulent brokers and shady investment schemes for many years. We continuously keep our eyes on different schemes in the market that may be targeting the traders. After many years of research and countless real-life cases, we now know how these scams operate and how they trick innocent people.
Big promises, unreasonably high returns, and withdrawal issues – these are classic investor-trapping techniques.
If looking to trade with Pocket Option, be cautious. Thorough research and intelligence observation are necessary so that an individual does not fall prey to any deceitful practices or tricks.
Beware of Trending Financial Scams
Scammers keep on establishing new skills to exploit innocent people. Some of the most common scams include:
- Investor Impersonation Scams: Fake investment firms promise high returns for a short time; then, they vanish with all deposits.
- Romantic Scams: Fraudsters pretend to create online relationships just to gain the financial trust of the victims before they manipulate them.
- Gift Card Scams: The criminals insist that the payments should be done by gift Card, hence creating irreversible transactions.
- Bank Account Fraud: Unauthorized access and identity theft are at play for the cause of drained bank accounts.
- Phishing Fraud: Emails and messages trick people into sharing private information.
- Cryptocurrency scams: Fake exchanges and Ponzi schemes trick traders into losing money.
- Forex scams: Unlicensed brokers manipulate trades and withhold withdrawals.
- Ransomware: Scammers demand ransom to release the data they have locked up.
When doing financial transactions online, always be observant and handle it cautiously. Meanwhile, verify the legitimacy of a particular broker.
How to Recover Lost Funds?
Losing funds on the Pocket Option or a similar platform? Don’t be disappointed. We specialize in tracing scam brokers and helping those affected take proper measures for fund recovery. We provide professional advice in chargebacks, litigation, and reporting scams with the relevant authorities.
Contact Us for a free consultation regarding the recovery of your funds.
About Proupshot
Proupshot.co is dedicated to revealing every fraudulent broker and delivering accurate information to a trader. We aim to protect investors from scams or fraud in finance and also help victims in recovering their lost funds.
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