Introduction
In recent years, the popularity of online trading has skyrocketed. With the convenience and accessibility of trading platforms, more and more people are turning to them in hopes of making a quick buck. However, with the rise of online trading, there has also been an increase in scams and fraudulent activities. One such platform that has been the subject of controversy is Pocket Option. In this article, we will take a closer look at Pocket Option and uncover the truth behind the Pocket Option scam allegations.
What is Pocket Option?
Pocket Option is an online trading platform that offers a variety of trading instruments, including forex, cryptocurrencies, and commodities. The platform was launched in 2017 and is owned by Gembell Limited, a company based in the Marshall Islands. Pocket Option claims to offer a user-friendly and reliable trading experience, with features such as social trading, demo accounts, and mobile trading apps.
The Allegations
Despite the promises made by Pocket Option, there have been numerous allegations of scam and fraudulent activities associated with the platform. Some of the most common allegations include:
False Advertising
Many users have claimed that Pocket Option engages in false advertising by making unrealistic promises and guarantees about the profitability of trading on their platform. Some users have reported being promised high returns on their investments, only to end up losing money.
Withdrawal Issues
Another common allegation against Pocket Option is that the platform makes it difficult for users to withdraw their funds. Some users have reported long delays in processing withdrawals, while others have claimed that their withdrawals were denied without explanation.
Manipulation of Trades
Some users have also accused Pocket Option of manipulating trades in order to benefit the platform. This includes allegations of price manipulation and stop loss hunting, where the platform allegedly triggers stop loss orders to force users out of their trades.
The Truth
While there have been numerous allegations of scam and fraudulent activities associated with Pocket Option, it is important to separate fact from fiction. After conducting thorough research and analysis, we have come to the following conclusions:
False Advertising
While it is true that Pocket Option has made promises and guarantees about the profitability of trading on their platform, it is important to note that trading always involves a certain level of risk. It is ultimately up to the user to make informed decisions about their investments and to be aware of the potential risks involved.
Withdrawal Issues
While there have been some reports of withdrawal issues with Pocket Option, it is important to note that these issues are not unique to the platform. Withdrawal issues are a common problem among online trading platforms, and many of them are caused by factors such as regulatory requirements and security measures.
Manipulation of Trades
While there have been allegations of trade manipulation by Pocket Option, it is important to note that these allegations are difficult to prove. The platform is regulated by the International Financial Market Relations Regulation Center (IFMRRC), which requires them to follow strict guidelines and procedures to ensure fair trading practices. It is unlikely that Pocket Option would risk their reputation and regulatory compliance by engaging in trade manipulation.
Tips for Trading Safely on Pocket Option
While there may be some risks associated with trading on Pocket Option, there are also steps you can take to minimize those risks. Here are some tips for trading safely on Pocket Option:
Do Your Research
Before investing any money on Pocket Option or any other trading platform, it is important to do your research. This includes researching the platform’s reputation, regulatory compliance, and user reviews.
Start Small
When first starting out on Pocket Option, it is a good idea to start with a small investment. This will allow you to get a feel for the platform and its features without risking too much money.
Use Stop Loss Orders
Stop loss orders can help protect your investments by automatically closing your trade if the price of an asset drops below a certain level. This can help prevent large losses and minimize your risk.
Withdraw Your Funds Regularly
To avoid any potential withdrawal issues, it is a good idea to withdraw your funds from Pocket Option regularly. This will ensure that you have access to your money when you need it and can help prevent any potential issues.
Conclusion
While there have been allegations of scam and fraudulent activities associated with Pocket Option, it is important to approach these claims with a critical eye. While there may be some risks associated with trading on the platform, there are also steps you can take to minimize those risks. By doing your research, starting small, using stop loss orders, and withdrawing your funds regularly, you can trade safely and confidently on Pocket Option.
