What is the best way to trade gold, stocks, bitcoin, currencies, and other assets? Years ago, this required a complicated setup, akin to Bloomberg Terminal.
Now, everything is available right in your pocket. The modern trading landscape is more dynamic than ever, and opportunities are everywhere: while you are lounging on the sofa, are on the commute, or in a coffee shop line.
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There are a myriad of apps designed for trading, so the real question is: which one is the best one to choose?
A lot of apps, including platforms like MetaTrader 4, MetaTrader 5, and cTrader, decided to be watered-down, ‘lite’ versions of their desktop platforms.
Pocket Option has chosen a different approach.Their mobile app is not secondary, it’s top priority. That is why it has a variety of features not available through other trading apps. We decided to do a little bit of digging on what makes Pocket Option unique, and why it has gathered over 10 million traders worldwide.
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Desktop-level Power without the clutter
By far the most impressive thing about the app is how many features it has: indicators, timeframes, asset classes, trading modes, and various gamified elements to keep things engaging.
The interface is modern and sleek, and doesn’t feel ‘dumbed down’ compared to the desktop or web versions (which Pocket Option also has).
Some of these features, such as AI trading and social trading from any other user on the platform, don’t exist in any other mobile trading app. Users can observe and automatically copy the trades of most successful traders on the platform, or choose to follow the AI signals based on technical indicators and real-market data analysis.
Users might not have time to analyze charts during a busy workday, but they do have time to open the app, check the current top traders, and allocate funds to copy their current strategies. Passive downtime turns into potential active income.
Technical analysis toolkit
Through the app, users gain access to over 130 assets, such as forex pairs, stocks, indices, commodities, and cryptocurrencies. Each can be traded in different modes.
One of the modes is called ‘Quick Trading’, with users simply selecting the direction they think the price for the asset will move in the next few seconds, or few minutes.
Another trading mode, ‘Forex’, enables closing in the trade at any time, but in exchange the platform takes a fee for holding the trade over multiple days (the so-called ‘swap fee’). Similar modes exist in other trading apps as well, but they are rarely combined.
In both modes traders can gain an impressive array of technical analysis tools, including:
- 4 chart types (lines, candles, bars, heiken ashi candles);
- 14 timeframes (from S5 to D1);
- over 40 technical indicators (RSI, MACD, Bollinger Bands etc);
- full kit of drawing capabilities (channel/trend lines, fibonacci retracements, Andrew’s pitchfork, and so on).
These help users analyze trends and make informed investment decisions.
Risk-free practice
Pocket Option offers a demo account for risk-free trading, loaded with $50,000 of virtual funds. This account does not require providing any personal or financial information, and can be accessed immediately. It is perfect to test strategies, and practice real trading.
Many others offer such accounts as well, but where Pocket Option app is different is that it has real payout potential. There are weekly and monthly trading tournaments with prize pools starting at $250.
Demo accounts can also earn experience points and gems, which can be used to buy bonuses, gain cashback, and upgrade loyalty tiers.
There are also chests, boosters, and various gamified elements, for users that want to get maximum engagement out of their trading experience.
Promotions, bonuses, and trading tournaments set Pocket Option demo accounts apart from most similar mobile trading apps.
The Verdict
Mobile trading is no longer a backup plan. It can have all the same tools and indicators as a full desktop trading setup, except with faster price alerts, and being accessible anywhere on the go.
Some trading apps can in fact outperform Bloomberg Terminal and other typical heavyweights, because of the usage of modern tools.
Terminal employs AI only in powering news summaries and sentiment analytics, meanwhile Pocket Option has AI helping you trade and find the best probability entries and exits. This is something even most institutional platforms don’t have.
Social trading, lightning-fast execution, and professional-grade analytical tools make Pocket Option app able to compete with trading juggernauts.
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