Pocket Option Islamic Account

Pocket Option Islamic Trading is a specialized trading option offered by Pocket Option, specifically designed to adhere to the principles of Islamic finance. This type of trading account, also known as a swap-free account, complies with the Islamic law (Shariah law) prohibiting usury or ‘Riba,’ which refers to the act of gaining interest in trading. In a Pocket Option Islamic Trading account, no interest is charged or received on positions held overnight, ensuring the transactions are conducted in a ‘Halal’ or permissible way. This makes it a suitable choice for traders of the Islamic faith who wish to engage in online trading while respecting their religious beliefs.

Pocket Option Islamic Account

Pocket Option Review Islamic Account

Pocket Option Account Types

Pocket Option offers different types of accounts to cater to the varying needs and preferences of its user base. These are categorized into three main groups which are the Standard Account, Pro Account, and VIP Account.

  • The first type is the Standard Account which is accessible with a minimum deposit of $50. This is a great option for beginners or traders who prefer to start with a smaller investment. The features and services available in this account type are sufficient for a basic trading experience. It enables users to understand and familiarize themselves with the platform without a significant financial commitment.
  • The next type is the Pro Account, which requires a minimum deposit of $2,500. This account type is suitable for more experienced traders who are comfortable with investing a higher amount of capital. The Pro Account offers a wider range of services and features compared to the Standard Account. It could provide users with more advanced trading tools and possibly, better trading conditions.
  • Lastly, the VIP Account is the premium account type offered by Pocket Option, which requires a minimum deposit of $5,000. This account type is designed for professional and high-volume traders who demand a more comprehensive trading environment. The VIP Account often includes exclusive features such as personal account managers, priority customer service, and other premium services. This is the account type that offers the most benefits, but it also requires the highest financial commitment.

In conclusion, Pocket Option provides a range of account types to cater to different types of traders. Whether you are a novice trader or a seasoned professional, there is an account type that suits your trading style and financial capacity.

Pocket Option Demo Account

The Pocket Option demo account features are designed to help beginners learn the ropes of binary options trading without risking any real money. This account offers virtual funds that one can use to practice trading strategies and get familiar with the platform’s interface. It operates exactly like a real trading account, providing real-time market prices for various assets such as currencies, commodities, and stocks. The demo account also allows users to access all the trading tools available on the platform. This includes various technical analysis tools, charts, and indicators. Furthermore, there is no limit to how long one can use the demo account, making it a valuable resource for both novice and experienced traders looking to refine their trading skills.

Pocket Option Islamic Account

Pocket Option Islamic Account is a unique account type offered by the Pocket Option trading platform designed specifically for Muslim traders adhering to Sharia law. This type of account, also known as a swap-free account, does not incur any swap or rollover interest on overnight positions to comply with the Islamic prohibition of Riba (usury). The Pocket Option Islamic Account provides the same features and trading conditions as standard accounts, allowing traders to engage in binary options trading while adhering to their religious principles. This exemplifies Pocket Option’s commitment to inclusivity and ethical trading practices.

Tradeable Assets

  • Forex Trading: The Islamic account at Pocket Option offers forex trading opportunities. This involves trading on the price movements of currency pairs. It allows traders to speculate on the global economy’s most liquid market.
  • Commodities: Commodities such as precious metals (gold, silver), energy (oil, gas), and agricultural products (wheat, coffee) can be traded in an Islamic account. It’s done without incurring any interest charges, as per the principles of Islamic finance.
  • Indices: Indices are another financial instrument available to Islamic account holders. These are portfolios of stocks that represent a particular market or a portion of it. Each index has its calculation methodology and is usually expressed in terms of a change from a base value.
  • Stocks: Pocket Option allows its users with an Islamic account to trade stocks. This refers to buying and selling shares in public companies. It’s done in compliance with Islamic finance principles, which prohibit earning interest.
  • Cryptocurrencies: Despite the debate over the permissibility of cryptocurrencies in Islamic finance, some argue that they are permissible if they are used legally. At Pocket Option, users with an Islamic account can trade cryptocurrencies like Bitcoin, Ethereum, and others.
  • Options Trading: This involves buying and selling options, which are contracts that give the buyer the right, but not the obligation, to buy or sell an underlying asset at a specific price on or before a certain date.

It’s important to note that all of these trades in an Islamic Account on Pocket Option are conducted without swaps (interest charges/earnings), under Islamic law’s prohibition of Riba (usury).

Pocket Option Instruments Available

Trading Platforms

The Pocket Option Trading Platforms include a variety of platforms that cater to different user preferences and needs. These include:

  • Desktop Platform: This is the main trading platform that can be accessed from any desktop or laptop computer. It offers a full suite of trading tools and features, including real-time quotes, advanced charting capabilities, and order management systems. This platform is ideal for traders who prefer to do their analysis and trading from a stationary setup.
  • Mobile App: For traders who are always on the go, the Pocket Option Trading Platforms also includes a mobile app. This app is available for both iOS and Android devices. It allows users to access their trading account from anywhere, at any time. Traders can place trades, monitor their positions, and even do technical analysis directly from the app. It’s designed to be user-friendly, fast, and reliable.
  • MetaTrader 5: In addition to their proprietary platforms, Pocket Option also supports MetaTrader 5, a popular third-party trading platform. MetaTrader 5 offers advanced technical analysis tools, automated trading capabilities, and a multi-asset trading system. It’s widely used by professional traders and is known for its flexibility, power, and reliability. This platform can be downloaded and installed on any computer, and it also has a mobile version.
Pocket Option Trading Platforms

Pocket Option Deposit Options

Pocket Option offers numerous deposit and withdrawal options to its users. There are several ways to deposit funds into your Pocket Option account, each with its own processing time. Here are some of the deposit options:

  • Credit Card/Debit Card: Pocket Option accepts all major credit and debit cards such as Visa, Mastercard, and Maestro. The processing time is usually instant, which means the funds will be immediately available in your account for trading.
  • E-Wallets: Pocket Option also supports various e-wallets like Skrill, Neteller, Perfect Money, FasaPay, and many more. The processing time for e-wallet deposits is also typically immediate.
  • Cryptocurrencies: You can also deposit funds using cryptocurrencies such as Bitcoin, Ethereum, Litecoin, etc. The processing time for cryptocurrency deposits can vary based on the confirmation speed of the blockchain network, but it is usually completed within an hour.
  • Bank Wire Transfer: Pocket Option accepts deposits via bank wire transfer. However, this method usually takes longer than others, and it could take anywhere from 1-5 business days for the funds to reflect in your account.
  • Payment Systems: Other options include payment systems like Payeer and AdvCash. These transactions are also usually instant.

Remember that the processing time might also depend on the policies of your bank or e-wallet provider. Also, ensure that you have completed all necessary identity verification steps in your Pocket Option account to avoid any delays.

While the platform does not charge any deposit fees, you might want to check if your bank or e-wallet provider imposes any fees on their end. Also, The Pocket Option minimum deposit varies with each account type.

Pocket Option Payment Methods

Pocket Option Withdrawal Options

  • Bank Transfer is a popular method for withdrawing funds that typically takes between 3-7 business days to process. However, please note that there is a minimum withdrawal amount of $50 in place. The fees associated with a bank transfer can vary and are subject to the individual policies of your specific bank. Therefore, it is recommended that you check with your bank for the exact details regarding any potential fees before proceeding with a bank transfer.
  • Credit/ Debit Cards: Withdrawing funds through Visa/MasterCard from Pocket Option is usually 1-3 business days, with a minimum withdrawal amount of $10. While Pocket Option doesn’t charge any fees for this, the card issuer might, so it’s recommended to check with the bank or card company for any possible charges during the withdrawal.
  • E-wallets including Neteller and Skrill are available for financial transactions. Withdrawal processing times may take up to 24 hours and the minimum withdrawal amount is $10. While Pocket Option doesn’t charge for transactions, the eWallet provider may have fees.
  • Cryptocurrencies like Bitcoin, Ethereum, and Litecoin are popular for online transactions and can be used for withdrawals from Pocket Option. The processing time can be up to 24 hours and the minimum withdrawal amount is $10. Pocket Option doesn’t charge fees for these transactions but blockchain networks may apply processing fees.

Please note that these are general guidelines and the exact details may vary depending on the specific circumstances of each withdrawal. The Pocket Option minimum withdrawal depends on the method used. Always check the Pocket Option website or contact their customer service for the most accurate and up-to-date information.

Pocket Option Islamic Account – Benefits and Risks

Pocket Option Islamic Account, also known as a Swap-Free account, is designed for Muslim traders who want to trade following the principles of Islamic law. This account type doesn’t charge overnight fees or swap charges, which are considered as Riba (usury) and are therefore not permissible in Islam.

Benefits

  • Swap-Free Trading: The most significant advantage is that no interest is charged or received on positions held overnight, which is in line with the Islamic principle of prohibiting usury.
  • Accessibility: It is easy to open an Islamic account with Pocket Option. You just need to provide your personal information and certify that you are a practicing Muslim.
  • Equal Trading Conditions: Pocket Option doesn’t impose any extra charges or change the trading conditions for Islamic account holders. They get the same spreads and commissions as standard account holders.
  • Wide Range of Assets: Traders can choose from a wide variety of assets, including forex, commodities, indices, and stocks.
  • No Hidden Charges: There are no hidden or additional costs associated with the Islamic account.

Risks

  • Limited Time Frame: Some brokers may limit the time for which you can hold a position without incurring swap fees. If the trade extends beyond this period, there could be charges.
  • Higher Minimum Deposit: Some brokers require a higher minimum deposit for Islamic accounts compared to standard accounts.
  • Limited Leverage: Sometimes, the leverage offered on Islamic accounts might be lower than on standard accounts, limiting the potential returns.
  • Limited to Muslims: The Islamic account is only available to Muslim traders. Non-Muslims are not allowed to use this account, which limits its accessibility.
  • Potential for Misuse: There is a risk that some traders might misuse the benefits of an Islamic account, such as the absence of swap fees, to carry out unethical trading strategies.

In conclusion, the Pocket Option Islamic Account can be a great choice for Muslim traders who want to comply with their religious beliefs while trading. However, it’s essential to understand the terms and conditions associated with it to make the most of this account type.

Is Pocket Option Halal in Islam?

Pocket Option is halal (permissible) in the Islamic faith due to its adherence to Islamic finance principles, which disallow transactions involving interest, uncertainty, and gambling. Pocket Option does not impose overnight or rollover interest on open positions, and offers a transparent trading environment, thus aligning with Islamic prohibitions against earning or paying interest and deceitful practices. As a result, Muslim traders can use Pocket Option without violating their faith. However, individuals are advised to consult an Islamic scholar to confirm its permissibility.

Is Pocket Option legal?

Pocket Option is a legal and legitmate binary options broker that provides a platform for individuals interested in trading various financial instruments. This broker is fully regulated and offers a wide range of assets for trading. Pocket Option is known for its user-friendly interface, high returns, and the flexibility it offers to traders. It also ensures the security of its client’s funds and personal information through advanced encryption technology. With a commitment to transparency, it operates within legal confines and adheres to strict regulatory requirements, thereby asserting its legitimacy and reliability in the binary options trading industry.

Pocket Option is legit and halal

Pocket Option is legal

Bonuses & Promotions

New Pocket Option offers two different promotional deals for customers. The first is the 50% bonus on your deposit. Anyone eligible for this deal and no referral code is required, just deposit the minimum required $ 50 and receive your bonus. The more capital traders put in at the beginning, the more cash you will get in this deal. For example, if traders deposit 100, you will receive 50 USD but, if you deposit $ 1000, you will receive an impressive $ 500 bonus. The only rule in this promotion is that you have to trade a certain number before you can withdraw money.

Another pocket option promotion is the $50 no deposit bonus. Using promo code ‘NBD-promotion’, new customers can get $50 bonus. To access this bonus, easily register for an account using the provided promotional code and receive your funds. Bonus can be withdrawn only after completion of several trades. 

Customer Service

Pocket Option broker provides robust customer support to its users. The platform offers multiple avenues for users to reach out, including live chat, email, and a comprehensive FAQ section on their website. The live chat feature is particularly useful for immediate assistance, as it’s available 24/7, ensuring that users from different time zones can receive real-time help. The customer support team is known for its professionalism and efficiency in handling queries, complaints, and technical issues. Whether you’re a novice trader needing guidance or an experienced one facing technical difficulties, Pocket Option’s customer support is readily available to assist.

Trading Hours

Pocket Option is a highly convenient and flexible trading platform that offers a wide range of trading hours to cater to the needs of traders from different time zones. The platform operates 24/7, allowing traders to access the market at any time of the day or night. This feature is particularly beneficial for those who have other commitments during regular market hours or for those who prefer to trade during late hours. Whether you are a night owl or an early riser, Pocket Option ensures that you can engage in trading activities whenever it suits you best. With its round-the-clock availability, traders can take advantage of market opportunities as they arise, ensuring that they never miss out on potential profits.

Pocket Option Review Islamic Account – Conclusion

In conclusion, Pocket Option is a reliable and user-friendly online trading platform that offers a wide range of trading instruments, including forex, cryptocurrencies, stocks, indices, and commodities. With its intuitive interface and advanced trading features, Pocket Option caters to both beginner and experienced traders. The traders can opt for a Pocket Option Islamic Account too.

One of the key advantages of using Pocket Option is its accessibility. The platform is available for both desktop and mobile devices, allowing traders to trade on the go. Additionally, Pocket Option offers a demo account, which is a great feature for beginners to practice their trading strategies without risking real money.

Pocket Option also stands out for its low minimum deposit requirement, making it affordable for traders with different budget sizes. The platform also offers a variety of deposit and withdrawal options, ensuring convenient and seamless transactions.

Furthermore, Pocket Option provides a range of educational resources, including video tutorials, webinars, and market analysis, to help traders enhance their knowledge and skills. The platform also offers a social trading feature, where traders can connect with and learn from other successful traders.

In terms of security, Pocket Option employs advanced encryption technology to protect traders’ personal and financial information. The platform is also regulated by the International Financial Market Relations Regulation Center (IFMRRC), ensuring a safe and transparent trading environment.

Overall, Pocket Option provides an excellent trading experience with its user-friendly interface, diverse trading instruments, educational resources, and strong security measures. Whether you are a beginner or an experienced trader, Pocket Option is a reliable platform to consider for your trading needs. 

Pocket Option Islamic Accounts – FAQs

Is Pocket Option a regulated broker?

Pocket Option is owned by Infinite Trade LLC.  Infinite Trade LLC is registered at Republic Of Costa Rica, San Jose- San Jose Mata Redonda, Neighborhood Las Vegas, Blue Building Diagonal To La Salle High School with the registration number 4062001303240. Hence Pocket Option is a legitimate trading platform.

Does Pocket Option offer a demo account?

Yes, Pocket Option offers a demo account. Traders and users can sign up for free and practice in a risk-free environment with a $ 10,000 virtual fund.

How much funds do traders need to trade with Pocket Option?

To trade with pocket options, you only need to deposit a minimum amount of $5. You can trade on platforms for as little as $1.

Is Pocket Option a legit broker?

Yes, Pocket Options is a legitimate broker. These are regulated by IFMRRC and adhere to anti-money laundering and KYC policies.

Is there a mobile app for Pocket Option trading?

In addition to supporting MT5 mobile platforms, Pocket Options has its own mobile app. All of these can be downloaded on both Android and iOS devices for on-the-go binary options trading. MT5 App is for CFD trading.