How to Trade on Pocket Option
The Pocket Option trading platform is a great place to start your journey into online binary options. It offers a free demo account that allows you to practise your strategy without risking any real money.
In addition, there are several other helpful tools for beginners. These include a free trial account and an excellent customer support team that is available around the clock.
Free Demo Account
A demo account is a risk-free trading platform that allows you to practice your trading skills without risking your own money. These accounts can be used to practice all types of trades, including forex, cryptocurrencies, and binary options.
Having a practice account before you invest real money can help you fine-tune your strategy and avoid making common mistakes like overtrading, cutting profits short, or direction bias. In addition, you can adjust your position size to test different strategies until you find one that works best for you.
Demo accounts can also be a great way to check out the quality of a broker and their platform. You can use them to see if the trading software is up-to-date and provides all of the charts and tools you need. Some brokers will even offer free trading contests and educational material to help you learn more about the market.
You should also look for a demo account that offers a variety of features, such as the ability to add and remove positions, place stops, and use margin. Some also offer a mobile app.
When choosing a demo account, you should be sure to read user reviews. They can give you an idea of which demo accounts are most popular among traders, as well as which ones have the most user-friendly interfaces and features.
Another way to find a good demo account is by looking at the spreads and prices offered by each broker. If they are significantly different from the spreads and prices you would see on real-money trading, this is a sign that you may be dealing with an unreliable broker.
To make your demo account more realistic, try to trade with the same amount of capital you would be using if you were trading live. This will ensure better execution, as well as a greater chance that your orders are filled at the expected price. If your demo account allows, you should also assume at least a one-cent slippage on high-volume stocks and larger slippage in lower volume or more volatile stocks.
High/Low options allow traders to profit from strong market trends and short-term swings. This type of trading is popular amongst experienced investors, but can also be profitable for beginners. It is important to note that a trader should take time to research the market and determine when it is best to enter and exit trades.
Pocket Option offers a number of high/low options for traders to choose from, including 60-second options. These expire in 60 seconds and give you a chance to seize the market's momentum quickly before it fades. However, these high/low options have lower payouts than standard options, so it's important to choose carefully when deciding whether to trade on this type of platform.
Another popular high/low strategy is the Pinocchio option, which involves buying both call and put options at the same time. This strategy is useful when an asset's price is about to break out from a period of consolidation and traders do not know which direction the market will move in.
Indicators such as RSI, Bollinger Bands, and other trend-following tools can be used to predict when a market may begin to turn. The RSI indicator uses a 0 to 100 scale to indicate overbought and oversold conditions while Bollinger bands consist of a centerline with two price channels above and below it.
Many brokers offer a demo account for traders to try out their trading strategies without risking real money. This is a convenient feature for new traders and can help them gain experience and confidence in the online trading industry.
Some brokers also offer an auto trading option that automatically places trades based on your own analysis of the market. This can be useful for beginners, but can be challenging for more experienced traders.
When trading on a Pocket Option platform, it is important to find a regulated broker that follows operating guidelines. These guidelines include security measures such as separate accounts and a clear policy on withdrawals and fees. Additionally, customer support should be available around the clock via live chat or a phone hotline.
The Pocket Option trading platform is an online service that provides traders with the ability to trade forex and cryptocurrencies. It is easy to use and features a wide range of assets and options. It supports a variety of payment methods and offers near-instant account funding. It also doesn’t charge any fees for deposits or withdrawals.
The broker’s customer support is available 24/7 via live chat and phone. In addition, users can contact the company through social media channels like Twitter and Facebook. This makes it easy to get in touch with a customer service representative, and the response time is fast.
In addition to the traditional binary option assets, Pocket Option also has a selection of OTC commodities and stocks. This allows traders to choose from a wide range of trading opportunities, including gold, silver, platinum, oil and US Brent crude.
Another great feature of the Pocket Option trading platform is its high/low options, which are one of the most straightforward types of binary options. The smallest payoff for this type of trade is 50%, but the average payoff is much higher. This means that it is easier to make profitable payouts with high/low options.
Withdrawals are free and easy on the Pocket Option trading platform. Funds are deposited through 50 different payment methods, including credit and debit cards as well as popular cryptocurrencies like Bitcoin.
You can also make deposits through the Pocket Option mobile app, which is available on Apple and Android devices. It is glitch-free and offers a wealth of features, including real-time signals, copy trading, full account management, and accurate quotes with no delays or requotes.
The Pocket Option platform is easy to use and has a wide range of features that make it a great choice for new and experienced traders alike. It also offers a free demo account, which is useful for testing out your strategies before making a commitment to a live account.
It also offers a 50% deposit bonus on the initial investment that you make when opening your live trading account. However, you won’t be able to withdraw your bonus until you have made a specified number of trades using the system. This condition discourages those who might sign up to get a bonus and then leave without trading.
Pocket Option offers a variety of trading assets, including forex pairs and single stocks. The broker also offers a demo account and a wide range of educational resources for new traders. Its customer support team is available 24 hours a day via email, phone, and live chat.
The Pocket Option platform is user-friendly and easy to use for beginners. It features a variety of technical indicators, five different chart types, and time frames ranging from 5 seconds to 1 day. It also has a few “social trading” features that allow users to interact with each other as they trade.
For traders who want to trade on a more advanced platform, Pocket Option also provides traditional forex trading on the MetaTrader 5 (MT5) trading platform. This platform is a bit more advanced than its in-house web platform and allows traders to access a number of additional tools and indicators.
Traders can deposit funds into their accounts using a variety of methods, including bank wire transfers, e-wallets like Perfect Money, WebMoney, and Advcash, and cryptocurrencies. The minimum deposit is USD 1,000, which is relatively low compared to some other brokers.
This is a great feature for those who are new to online trading and don’t have a lot of experience. It’s a good way to learn how to trade before investing real money. It’s a risk-free way to test your skills and strategies without risking any actual cash.
It is a regulated broker, and its customer support team is available around the clock. The phone and email contact information are easily accessible on the site, and they respond quickly to queries.
As with most other brokers, you can fund your Pocket Option account with a variety of payment methods, including bank wire transfers, credit cards, and e-wallets. You can also withdraw your funds within a few days of opening an account.
The Pocket Option customer support team is friendly and knowledgeable, and they’re always ready to help you out. They can be contacted via email, live chat, and a UK-registered phone number. They’re committed to delivering quality customer service, and their responsiveness during tests makes them an excellent choice for anyone looking for a top-notch online brokerage.