Finding the right online trading platform can be confusing. Many brokers in the market offer you quality services and the best trading tools and techniques. You can compare the brokers considering various factors. These factors can help you decide which broker fits your needs the most.
Though Deriv and Pocket Option are the leading brokers, their services are other related factors might differ. Before choosing any broker, the trader’s first task is to know whether the broker will offer services at par with his expectations.
In this Deriv VS Pocket Option discussion, we will find out which broker among these two is the most suitable for you.
What you will read in this Post
Binomo vs. Pocket Option comparison chart
|Deposit and withdrawal methods||Electronic wallets, Cryptocurrency, credit cards, debit cards, wire transfers||Electronic wallets, Cryptocurrency, credit cards, debit cards, wire transfers|
|Regulation||Malta (MFSA), Labuan (LFSA), Vanuatu (VFSC), British Virgin Islands (BFSC)||International Financial Markets Relation Regulation Center (IFMRRC)|
These factors will help us judge which one of these two trading platforms is the best for you. Let us look at these Deriv VS Pocket Option factors one by one.
The first thing you should look for in an online trading platform is the demo account. A demo account is the basic need of the traders. It is of paramount importance for the traders, especially the beginners.
The beginners can learn trading through their demo accounts. Since they are new to trading, they need to put in a lot of work to build their fund management skills. In addition to this, they need the demo account to understand how to manage the risk across various investments.
Deriv lets you trade on its demo account without any hassle.
You can sign up for a Deriv demo account if you wish to begin trading with the broker. An existing trader can also use the demo account to make changes in his trading approach or strategies.
Pocket Option is also one of the top traders in the market and makes its demo account accessible to its users. Both brokers allow their users to learn to trade and test their strategies through their demo accounts.
If we consider a demo account as a sole factor, you can choose any among these brokers.
The minimum deposit amount plays a decisive role in judging the online trading platforms. The minimum deposit amount holds significant importance in the lives of the traders, both beginners and advanced. A beginner would not like to open his trading account and fund it with a huge minimum deposit.
He will lack the expertise in trading compared to the professional or advanced. The learning stage will make him want to invest only a few dollars.
The Deriv minimum deposit amount is only $10. If you are only a beginner who wishes to start your journey with Deriv, you can sign up for your live trading account and fund it for only $10.
On the other hand, the Pocket Option minimum deposit amount is $50, higher than that at Deriv.
You can start with Deriv because of its low minimum deposit amount if you are a beginner. However, if you have an experience in trading or are willing to put in your savings worth $50, you can join Pocket Option.
Another thing you need to consider while deciding between Deriv VS Pocket Option is the minimum withdrawal amount. A trader buys and sells assets for the primary purpose of making profits. Once he earns enough funds and the balance of his trading account increases, he would wish to withdraw those funds for his personal use.
It is where the minimum withdrawal amount comes into play. Suppose you have a balance of $50 in your trading account. You would want to withdraw these funds. When you try to submit a withdrawal request for these funds, you see a notification telling you that the minimum withdrawal amount is $100. This situation could take away the trader’s peace of mind. If you wish to withdraw those $50 from your trading account, you might have to pay some fees to the broker. Therefore, it is essential to choose a broker with the minimum withdrawal amount.
In our Deriv VS Pocket Option comparison, both brokers have the same minimum withdrawal amount. The required minimum amount for a Pocket Option withdrawal is $10 and for the Deriv withdrawal it is also $10. You can withdraw any amount from your Deriv, or Pocket Option live trading account as long as it is equal to or greater than $10.
From the point of view of the minimum withdrawal amount, both Deriv and Pocket Option can be your best pick because they have the same withdrawal amount.
Deposit and withdrawal methods
A trader should check whether the broker offers multiple deposit and withdrawal methods. If a trader gets a choice between the deposit and withdrawal methods, things become a little convenient for him. For instance, if one payment method stops working due to any technical issue, a trader can use another payment method and protect himself from the risk of losing his investment.
The payment methods offered by Deriv include online payments via bank or wire transfers, credit cards, debit cards, electronic wallets, and Cryptocurrency.
The payment methods offered by Pocket Option are similar to those offered by Deriv. You can withdraw or deposit funds into your Pocket Option trading account using your debit cards, credit cards, bank transfers, Cryptocurrency, and electronic wallets.
Since both these online trading platforms offer similar payment methods, both seem suitable for beginners and advanced traders.
Mobile application is the most convenient way to trade online. It can be difficult to carry your laptop or a big screen everywhere you go. One can do away with this problem with a mobile application. Many traders prefer to download the mobile application of the broker that fits their needs.
Mobile application is the best platform for people who like to trade on the go.
You can easily find and download the Deriv mobile application for Android and for iOS. Similarly, mobile trading applications are available for the Pocket Option users also.
Which trader does not like sign up or deposit bonus? In fact, bonuses tend to attract investors to the broker. The broker can offer you a fixed sum of the sign-up or the deposit bonus. They might even offer you a fixed percentage of bonus on your sign-up or deposits.
A deposit or sign-up bonus increases the amount you can invest across securities and thus earn money.
Unfortunately, there is no Deriv bonus available (neither deposit bonus or sign-up bonus). On the other hand, Pocket Option offers its users a deposit bonus of up to 50% of their investment.
Thus, based on the deposit or sign-up bonus, Pocket Option is the best choice for the users since they offer you a deposit bonus of up to 50% of the amount you fund your account with.
Another thing that counts when choosing a broker is whether they offer you customer support or not. There are some things that require the personal attention of customer support while trading. You cannot share everything with your personal information on the live or online chat. That is where email support comes to your rescue.
Deriv offers your personal assistance through email support. You can write an email to customer support concerning all your issues and get them resolved via email support.
Even Pocket Option offers you email support to get rid of the issue you encounter while trading on its online trading platform.
Both the brokers offer you email support. Hence, any of these brokers can be the best pick for you.
These days all brokers offer their users live chat support to resolve the minor issues they encounter while trading online. You can get in touch with the live support of the broker through an online chat.
If any problem related to any trade or any other broker service arises, online chat is beneficial to resolve these issues.
Both Deriv and Pocket Option offers their users live customer support to resolve the issues that they may face.
Regulation of Deriv vs. Regulation of Pocket Option
No trader wants to indulge in the services of an unregulated broker. Regulated brokers increase a sense of security among the traders, and they feel comfortable trading with the broker.
On the other hand, The International Financial Markets Relation Regulation Center (IFMRRC) regulates Pocket Option. Therefore, Pocket Option can be considered a safe broker.
Therefore, both Deriv and Pocket Option are legit and reliable brokers with which you can trade.
Conclusion – The choice depends on what you are looking for
This comparative analysis of Deriv VS Pocket Option might prove beneficial in choosing one among the two brokers. Deriv offers its users various benefits related to the minimum deposit and the withdrawal amount as it is less than the Pocket Option.
On the other hand, Pocket Option offers its users’ a deposit bonus, even though the minimum deposit amount is high.
Both these brokers are leading in providing their customers the best services, and you can pick any fitting your needs.