Scam Alert: Unlicensed Pocket Option FX Accused of Refusing to Return Funds

In the realm of online trading, there are always scammers sowing seeds of deceit among unsuspecting traders. From false promises of astronomical profits to unregulated platforms, the forex market teems with risks. As you navigate this complex area, vigilance is your shield against falling victim to scam brokers.

Recently, the broker Pocket Option FX has raised concerns surrounding its legitimacy and operations. Let’s dive into the suspicious signs it exhibits.

About Pocket Option FX

Pocket Option FX claims to be a global online investment platform founded in 2013 that allows investors to invest in financial products including cryptocurrencies, forex and stocks. Pocket Option FX is "committed to the principle of revenue maximization and reduction of the financial risks at trading", promising fast profit, instant withdrawal, and multilingual 24/7 support. The broker supports several payment methods such as credit card, PayPal, BTC and ETH, without limitation on the maximum withdrawal amount. The broker said that client funds' security is their priority, clients' personal data and financial transactions are protected, and under no circumstances would their withdrawal be transferred to an unauthorized third party.

Is Pocket Option FX Regulated?

The truth is that Pocket Option FX is not regulated by any regulatory body. The broker fails to present its regulatory information. Its "Business License" section just directs to a blank page, with an image that cannot be displayed. The lack of such important information is indicative of an unlicensed broker.

Clientele Feedback

A client reported issues with trading, his transaction seemed to be invalid and he was unable to access his gains.

There are accusations of the broker's fraudulent practices,  including the promise of a "too good to be true" return, persuasion for luring into deposits, and refusal of withdrawals.

A Suspicious Website

If you want to learn more about Pocket Option FX, it is not helpful to navigate its website. The details in account, deposit and withdrawal, and terms of services can not be found on its website. Clicking on these sections will only bring you to the Sign-Up page or the Contact Us page. It is unknown what types of accounts the broker offers, what trading platforms it supports, and what its trading conditions are. 

On the other hand, the domain creation date of Pocket Option FX’s website is June 2023. There is a huge discrepancy between the date and its claimed company establishing date - 2013, which highlights its deception. Besides,  the registry expiry date is just a one-year distance from the creation date, which is a signal of a common scamming tactic. The broker is likely to create a new website after 6 to 12 months in order to execute a scam under a new image.

FCA's Warning 

It is important to note that Pocket Option FX was warned by the United Kingdom Financial Conduct Authority (FCA) just a few days ago, for offering financial services and products without the regulator's authorization. A warning from a reputable regulator gives enough reasons to avoid entrusting your investment to this broker. 

BrokersView Reminds You

In light of Pocket Option FX's unregulated nature, negative client feedback, and the questionable features of its website, traders are strongly advised not to deal with the broker, as a protection of their assets. It is crucial for traders to exercise extreme caution when choosing a broker, ensuring the choice of a licensed and regulated entity with a solid reputation among customers. 

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