Be Alert to Pocket Option! Trader Accounts Locked for No Reason

Scam forex brokers are always good at hiding their fraudulent reality until traders find their accounts frozen, closed, or unable to withdraw.

Recently, a trader submitted a complaint to us that his Premium account opened with the broker Pocket Option was locked, but he was not informed of the reason, and Pocket Option did not provide a satisfactory explanation. Since he was unable to log into his account, it was impossible to withdraw his funds.

In response to this victim's trouble, we have contacted Pocket Option and forwarded his complaint, but have not yet received a response. In addition, we have contacted the victim for further details and have not yet heard back from him.

It is certain that Pocket Option is a scam and it has shown numerous signs of being a scam.

In terms of regulatory status, the broker claims to be licensed by the International Financial Market Relations Regulation Center (IFMRRC) and the MWALI International Services Authority (MISA), which, upon checking, is indeed true. However, neither of these regulatory bodies regulates entities involved in Forex activities. So, in reality, Pocket Option is not subject to valid regulations on forex trading activities.

On the other hand, the Financial Services and Markets Authority (FSMA), which is committed to protecting financial consumers from fraud and maintaining the stability of the financial markets, published a warning list of fraudulent trading platforms in June, and Pocket Option is on the list. The regulator strongly advised investors not to respond to any financial services provided by these trading platforms.

In fact, this trader is not the only one to have his account blocked. Pocket Option made it easy to block their accounts with excuses, and detained their funds, according to other traders.

On top of that, a number of traders reported other problems with Pocket Option. Apart from asking clients to add more deposits and manipulating trades, serious withdrawal issues are the most complained about by customers.

BrokersView Reminds You 

Given that Pocket Option is not regulated by any forex regulatory agencies and has been the subject of customer complaints and negative feedback from traders, there is no doubt that Pocket Option is a fraudulent broker.

Remember, conducting due diligence and verifying a broker's regulatory status is essential to protect your investments and avoid potential scams. If you encounter any suspicious or fraudulent activity, report it to the relevant authorities immediately or ask us a Question that BrokersView will answer for free.