How pocket option is a scam

I’m here to touch on a few things I’ve seen after being on pocket option for years.

For one they most definitely are a scam platform, they do everything from preying on new users, chart manipulation, straight up lying to users, and all sorts of deceptive practices

Let’s go in order shall we,

So pocket options business model that s as simple as users deposit money, if they lose that money and never withdraw that’s profit for pocket option, you money never is actually put into a liquidity pool of any kind it just sits in a deposit wallet and as soon as your account is at 0 pocket option keeps that money, they deceptively try and hide this by saying “we charge no fees” and even on their platform it says they make money on the 8% difference between the highest payout (92%) and a full double up 100% which is purposely worded to be extremely misleading as I have even seen moderators in general chat who misunderstood what this means and we’re lying to new users saying pocket option wants people to win so they can get that 8%, which is so far from the truth, instead that 8% would be referred to as a house edge like with a casino, and if you place 100 $10 trades and hit a 50% win rate you still lose money due to that 8% edge, you would have to be 58% profitable just to breakeven. The edge pocket option has is literally twice as high as some online slot machine games which is absurd

Nearly, price manipulation, this is something I have seen thousands of users refer too however is such a grey area it doesn’t take much for people to say “that’s just the market” which is absolutely perfect way to disguise theft from your users, blaming market’s unpredictable behavior for losses, however at a certain point it stops becoming simply a coincidence and is s instead a trend, which we are used to identifying, pocket option also has their own specific liquidity provider that they use and most likely are the ones who make up 90% of the transaction volume within that liquidity pool since trader funds aren’t used within the pool, therefor they could simply develop a price weighting algorithm to measure the amount of trades in both direction within specific timeframes and then move the price with correlation to losses that way pocket option profits regardless, this is seen in all the -1 point closes last second that so many people have as well as why when you place a trade the price will immediately move against you, this is the price weighted algo redirecting the price as placement of a trade can then swing the momentum in a different direction. ( personally I have had hundreds of examples of manipulated trades and losses even some as bad as having a hedged trade playing both directions on a 2 hour close timer, only for the price to move in between both trades in a single 1 point gap that causes both to lose) after 2 hours for the price to end up in the only single price point that would cause both losses the odds of that happening in a legitimate market would be astronomically low.

On top of all of this they also do everything they can to prey on new traders such as stating the average trader makes $830 a month on their platform which is so untrue it’s insane, there are a very limited number of genuinely profitable traders and 90% of them are more than likely affiliated with the platform in some sense, they add all these “bonus codes” as they will be used by new users without realizing that by using the code they lock up your funds until you have traded 50-100 times the bonus amount, (mathematically by the time you reach the trading requirement the house edge will have burned off the bonus funds and some more) They also give out loads of fake signals and number, for example every day at my time 4:00pm the charts are unavailable to place trades past 4pm until it’s 4:01 then everything resets, however at this same time they will have signals posted for times past 4pm and will have the signals say they are being copied however none on the site can even place a trade for that expiration or copy the signal which shows that those numbers are complete BS and just generated by pocket option to make the copy trades seem more enticing. They also only have 20k ish daily users yet have so many fake bot ran accounts spamming trades in order to update their price weighted algorithm that they make it seem like there are thousands of people trading each individual asset, there is not, they do not have a ton of users at all compared to other platform which is why it’s so easy for them to manipulate things against you as often it will only be a handful of traders per asset with extremely low volume, and since they control the liquidity pool they can essentially force orders into wherever they want the price to go. On top of this the support team is extremely shady and often abused the very generalized terms and conditions to close out profitable traders whenever they want with no good reasoning, they will often say something along the lines of “using a trading bot” or just say you are breaking the rules and reset your trading history, I have seen examples from countless users including one who made $1,000,000 of 40k only to have his entire trading history removed and balance reset without ever even being able to defend himself since the support team closed his ability to even submit a request, they also abuse the verification as they will allow anyone to deposit any amount of money but the second it comes to withdrawals they will often make users jump through a million hoops in order to get a simple withdrawal ( I myself use crypto and have never had an issue with withdrawal) however I know that it is still an issue for thousands of users.

I also was banned from general chat for 10 years because I was explaining to a moderator that pocket option does in fact profit off its users losses, the power hungry mod “Odour” banned me after proving him wrong and the fact that he is a moderator and doesn’t even understand how the platform works yet still spits misinformation out to every new user. They also have thousands of reviews and complaints about all of this however they shrug it off to “haters being haters” rather than addressing the actual issues people have, and if you try to submit a bad review to them directly where they “publish real user reviews” if you leave anything less than a 5 star review they will refuse to publish it and instead will leave it under review indefinitely, and they practically bribe users to leave fake reviews as they give new users rewards for leaving a positive review, so rather than speaking the truth they say some copy paste bs about how PO is the best and then get their risk free trade.

I know some people are still gonna sit here and say that pocket option is completely legit however so for those of you who do say that touch back in with me in 6 months after they screw you over too and lmk what you think, and for those of you who do recognize the deceptive practices I have layed out here just know you are not crazy or coping but instead the platform is playing you exactly how they intend too, you second guess yourself wondering if maybe it is you that’s the problem, it is not, pocket option is not your friend and they are not here to help you, the only point of them existing is to profit of users unlucky enough to be lured in by all the deceptive practices and fall right into their trap. I’m also not saying it’s impossible to make profit as I myself have even had extremely good weeks, but over the long run they will always win just like a casino cause that’s essentially what they are.

Side note as well, it should be illegal for PO to advertise their services within a Halal account as it is essentially the same thing and a form of gambling. But they are exploiting these religious users by saying “oh it’s a halal account so it’s okay” no it is absolutely not and it’s disgusting to me that pocket option would even do something like this.