Is Pocket Option legal in India? Review for Indian traders

Pocket Option is an international Forex and CFD trading broker, offering its platform to users all over the world. Pocket Option was founded in 2017 and had been serving its users ever since. Its headquarters are located in the Republic of the Marshall Islands. It is currently owned by Gembell Limited. Gembell Limited is located at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands. 

Pocket Option has gained an image of being one of the best online trading platforms out there, and only being started in 2017, they have gained a lot of users from all over the world. Pocket Option is also known for its binary trading option. They also provide more than 100 financial instruments to trade.  

Pocket Option also offers a demo account to all its new users for practicing and getting a better understanding of the online trading platform. A demo account does not require real money as it is only for practice. Pocket Option offers all the same features and options in the Demo account as in the Live account. 

Pocket Option is available 24/7 to its users and traders for trading. You can get different assets to trade any time of the day. Their support services are also available at all times for its users to clear any questions or queries. 

Is Pocket Option legal in India?

Pocket Option is one of the many legal online trading platforms in India. It is best suited for the Indian trading crowds as trading is relatively new to the masses. Pocket Option is definitely one of the best options not only to trade and earn but also to learn if you are new to the trading world. Thus, we have designed the site in such a way that it is not only extremely easy to use it is also a very safe and secure place for trading as it is licensed by the IFMRRC. 

However, Forex and binary options are not allowed, i.e., illegal in India, and you can still trade online as long as you abide by Foreign Exchange and Management Act (FEMA) rules. 

Pocket Option has been out there since 2017 and had been serving its users excellently. Its services have been improving ever since the platform opened to traders. Traders from India can trade from many options like Forex assets, CFD, etc. Therefore, yes, it is legal to trade using Pocket Option in India. 

Online Trading regulations in India

Online trading is legal in India. There is no ban on online trading in India. The traders or users are free to trade on various online trading platforms. However, Forex and binary trading are not allowed in India. According to Foreign Exchange and Management Act (FEMA), binary trading and Forex are banned in India. There are no regulations for binary trading and Forex in India, and if users decide to do so, it is at their own risk.  

Although Forex is prohibited in India, you can still trade in foreign currencies. However, there are a few restrictions. The currency being traded upon has to be the Indian currency, i.e., Indian Rupee or INR. The currencies that can be paired with the Indian Rupee are Euro or EUR, Great Britain Pound or GBP, US Dollar or USD, and Japanese Yen or JPY. 

Regulations of Pocket Option

Pocket Option is regulated by the International Financial Market Relations Regulation Center (IFMRRC) situated in Marshall Island. They also have an anti-money laundering policy to steer clear of scams and fraud.  

Because it is regulated by the International Financial Market Relations Regulation Center (IFMRRC), Pocket Option is very safe and secure to use by its users. Pocket Option also has a Know-Your-Customer Policy that protects their clients’ personal information from any misconduct or mishaps.  

Review of Pocket Option for Indian traders 

Pocket Option has a minimum $1 investment amount. It also has a minimum $1 trade amount. Pocket Option also provides more than 50 payment options and more than 100 assets to trade. It also has various educational materials available like video tutorials, guides, and various trading strategies. 

Pocket Option has various trading instruments available for its users to make trading better and easier. They also provide regular promo and gift codes to their traders.   

They have Pocket Option applications available for any kind of platform like Android, IOS, Windows, and Web. Pocket Option provides very high payouts, the lowest that you can do is 50%.  

Pocket Option is one of the safest online trading platforms out there. It is regulated by the Financial Market Relations Regulation Center (FMRRC), which protects the clients from any sort of fraud and scam. 

You can even customize the platform according to your convenience. You can customize things like color theme, chart type, etc. Furthermore, you can also communicate with other traders from around the world in the built-in chat option.   

Pocket Option has high customer loyalty. They are one of the most loyal and trustworthy online trading platforms out there. 

Pocket Option is available in more than 20 languages such as Hindi, English, Urdu, Portuguese, French, Turkish, etc. 

Binary trading option 

The binary option has a predetermined payoff and requires you to predict the correct conclusion from two possible outcomes. It’s termed a binary option since there are only two possible outcomes: win or lose. If you guess the correct option, you will receive the payoff; but, if you forecast the incorrect option, you will receive nothing. Pocket Option offers this binary trading alternative, which is a good option for traders.

Types of accounts on Pocket Option 

Pocket Option offers two types of accounts for trading to its users, Demo account and Live account – 

  • Demo Account – First-time users can open a demo account to see what all features and options are available on the platform. You get $10,000 virtual coins to practice trading and to enhance your trading skills. You can get a feel of the platform and get a better understanding of Pocket Option with a demo account. The demo account has all the similar options and features as the live account. 
  • Live Account – You can open a live account by making a deposit of a minimum of $50. You also get special features with live accounts like tournaments, social trading, etc. You also get a 50% welcome bonus on your first deposit, along with many other perks and benefits. Not only that, but you can even upgrade to a live account with a demo account. 

Features on Pocket Option

Pocket Option includes a plethora of unique options that consumers can use to trade online. They include features such as social trading, competitions, accomplishments, Indicators, and Signals, among others. Let’s have a look at some of the unique features offered on Pocket Option. –  

  • Social Trading  

With the social trading feature, you can observe fellow traders’ trading habits. You can learn a lot from this feature as you can see other traders’ trading habits and learn from them. It is one of the most useful features of Pocket Option. 

  • Tournaments

This distinctive feature enables you to contest for rewards with other traders, and you can also observe how your competitor is trading. You can earn up to $50,000 in addition to other prizes and milestones.

  • Achievement

Tournaments can be used to obtain achievements. They are just as useful as the rewards available in tournaments. You can obtain bonuses, trade funds, and other advantages to help you make more money in Pocket Option. 

  • Indicators and Signals 

With the Indicators and Signals feature, you can keep track of when you will earn the most from trade. This feature shows when prices increase and decrease. 

Minimum deposit amount

The minimum deposit amount on Pocket Option is $50, depending on your deposit method, which is very affordable. You can easily deposit this sum of money and start online trading on Pocket Option. The deposit process takes up to 1-2 days to complete. 

Minimum withdrawal amount

The minimum withdrawal amount in Pocket Option is very low. Due to Pocket Option’s policy, they allow users to withdraw a minimum amount of $10. The minimum withdrawal amount may differ depending on your withdrawal method. 

Maximum withdrawal amount  

There is no limit on how much money you can withdraw from the Pocket Option. However, you can only withdraw money once a day.  

Withdrawal fees 

Pocket Option does not charge any fees for the depositing or withdrawing funds process. You are free to withdraw and deposit money without any extra charges. However, even though the Pocket Option does not charge any money for depositing and withdrawing money, the bank might charge a fee for the transaction process. Pocket Option, however, does not levy a fee when trading.

Trading fees 

Pocket Option doesn’t really impose a trading commission. There are no charges for trading on Pocket Option. They even have a very low trading amount, i.e., $50. You also get an additional bonus while making deposits. You can deposit and withdraw funds without any additional charges. No charges are applied on the opening of the live account.  

Trading platforms on Pocket Option

Pocket Option provides two different trading platforms for its users to use. They have MetaTrader4 and MetaTrader5. MetaTrader 4 is an electronic trading platform for trading Forex. It has a wide range of opportunities which is why Pocket Option chose MetaTrader4. With MetaTrader 4, you can also set push notifications and price alerts. It also allows customized indicators. 

MetaTrader 5 is used for trading stocks, Forex, futures, etc. It offers various tools for traders to help in online trading. 

Assets to trade on Pocket Option  

Pocket Option has a large number of assets to trade. It has over 100 assets to trade for its users. Pocket Option has various assets for betting like Forex, indexes, actions, cryptocurrency, and commodities –  

  • Cryptocurrency

They have over 30 cryptocurrencies for trading on this platform like Bitcoin, Ethereum, EOS, etc. 

  • Stocks

They have more than 30 stocks to trade like Google, Apple, Facebook, HP, McDonald’s, Walt Disney, Microsoft, Intel, etc. 

  • Commodities

Pocket Option offers mainly 4 commodities for its users to trade – Gold, Silver, UK Brent, US Crude.  

Deposit and withdrawal methods on Pocket Option in India  

Pocket Option has over 50 deposit and withdrawal methods available for its users. You can pay through bank wire, debit/credit cards, cryptocurrency, or E-payment – 

  • Cards

MasterCard, Visa, Maestro, Mir, etc. 

  • Cryptocurrency

Bitcoin, Litecoin, Zcash, Stellar, Ethereum, PAX, etc. 

  • E-payment

QIWI wallet, VLoad, Yandex Money, WebMoney, Jeton, Perfect Money, Advcash, etc. 

All these payment options are instant and completely safe to use on this online trading platform. 

Deposit bonus on Pocket Option 

Pocket Option lets you choose the deposit bonus according to your payment method along with how much amount you have deposited for trading. The more money you deposit on the trading platform, the higher your bonus amount.  

If you want a relatively higher amount of bonus on Pocket Option, you will have to deposit more amount of money to get it. You even get a 50% welcome bonus on your first deposit. Additionally, you can activate or deactivate your bonus any time you want. 

How to open an account on Pocket Option? 

If you want to step into the world of online trading, Pocket Option is an excellent place to start, but to start trading, you will have to open an account on this online trading platform which can be accomplished in just a few simple steps, and here’s how you can start – 

To open a demo account

  1. Click on the “Start in One Click” option.  
  2. Fill out the personal information to save the results and to continue using the same account. 

If you have signed up with a demo account, you will get $10,000 virtual coins to trade for practicing and sharpening your skills in online trading. You can get a better understanding of the online trading platform without trading for real. And when you think you are ready to step into the real online trading world, you can switch to the “Trading Account.” 

To open a trading account

  1. Click on the “Quick sign up” option. 
  2. Choose an option to sign up from Facebook, Google, or email. 
  3. Enter a password. 
  4. Re-enter the password for confirmation. 
  5. Click on “Sign-up.” 

After following these steps, you have successfully signed up on Pocket Option and can now start trading online on this platform by depositing money through various payment options. 

How to deposit money to Pocket Option in India?

In order to start your online trading on Pocket Option, you will have to deposit a minimum of $5 or $10, depending on your payment method. Here’s how you can deposit money to Pocket Option – 

  1. Go to the “Finance” section. 
  2. Click on the “deposit” option.  
  3. Choose a payment method that is convenient to you. 
  4. Write the amount of money you want to deposit. 
  5. Choose your gift for deposit. 
  6. Click on the “Continue” option. 

After following these steps, you have successfully deposited money on Pocket Option to start trading. You can go to the “History” option, to check your deposit history. 

How to withdraw money from Pocket Option in India?

In order to get your hands on the winnings from Pocket Option, you need to make a withdrawal request to Pocket Option. Here’s how you can do it –  

  1. Click on the “Finance” option. 
  2. Then click on the “Withdrawal” option. 
  3. Choose a payment method. 
  4. Enter the withdrawal amount. 
  5. Enter your account number/bitcoin address/card number/ etc. 
  6. Click on “Continue.” 

When you click on continue, you will get a notification saying that your withdrawal request has been queued. You can click on the “History” option to check your withdrawal history and keep track of your deposit and withdrawal activities. 

Support for the Indian users 

Pocket Option is open for Indian users to trade online on this platform. The platform is available in various languages, including Hindi and English, which is a good thing for Indian users. Their support services are open to users all the time. The support team of Pocket Option is multilingual, which makes it very easy for the users to clear their queries or ask questions.  

The users can contact pocket Option’s support team any time of the day for any sort of help or queries. You can contact them through email, phone number, and addresses which are given on the main website, or you can find them on social media platforms like Instagram, Facebook, Twitter, etc. You can also fill the contact form given on the Pocket Option’s website, and they will get back to you within 24 hours. 

Conclusion

Pocket Option is very convenient and easy to use for online trading for Indian traders. The platform provides all the same services and options to Indian users as any other country. It is very secure to use in India and also other countries. Pocket Option is very safe to use as it is licensed by the International Financial Market Relations Regulation Center (IFMRRC).  

It is user-friendly, and you can customize it according to your convenience. It offers additional bonuses and has a meager deposit amount. Pocket Option has grown so much in such a short period since it started in 2017, it will hopefully keep growing in time, which makes it an excellent online trading platform to start trading.

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Blogger at www.willascherrybomb.de Copywriter website: www.yvonnes-schreiberei.de

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