Tag: Pocket Option

FinTelegram has already issued several warnings against the offshore broker PO Trade, which is included on our Red Compliance List. PO Trade and PocketOption are the trading names of this offshore broker scheme which has legal entities in various offshore jurisdictions such as Marshall Islands or St. Lucia. We recently published a report on fake reviews of PocketOption on Trustpilot. The Spanish CNMV issued a warning against PO Trade on April 8, 2024.

In the murky online brokerage world, the Octa (previously OctaFX) assessment by FinTelegram and Traders Union presents a starkly contrasting narrative. Is the offshore broker Octa a reputable and reliable platform for global traders or a cautionary tale for those navigating the complexities of regulatory compliance? The differing viewpoints of FinTelegram and Traders Union raise provocative questions about the right approach to evaluating online brokers.

The Reserve Bank of India (RBI) has recently updated its alert list to include organizations that are prohibited from engaging in foreign exchange trading. This latest iteration of the list also includes entities that may be authorized in other jurisdictions, do not hold authorization in India. Notably, the list includes prominent names such as eToro and other notorious offshore brokers like Alpari, Pocket Option, and OctaFX.

We have warned several times in recent months about the offshore broker Pocket Option a/k/a PocketOption or PO Trade, which was previously on our Red Compliance list. One of our readers brought to our attention that there are warnings against PocketOption from regulators worldwide. The offshore broker scheme is on the warning lists from the U.S. over Brazil and Europe to Malaysia. We have therefore downgraded PocketOption and placed it on our black compliance list.