Pocketx Ltd is a Contract for Difference (CFD) broker established on February 12, 2023, and registered in Colorado, USA. This broker focuses on providing trading services for financial derivatives such as forex, precious metals, crude oil, indices, and cryptocurrencies to retail and institutional clients. It does not offer services in regions where it may violate local laws or regulations.
Company Registration and Regulatory Status
According to publicly available information on its official website, Pocketx Ltd claims to be one of the 50 largest financial services companies in the United States, with its headquarters located at 1430 Stout St, Denver, Colorado, United States. The company also claims to be regulated by the Financial Crimes Enforcement Network (FinCEN) with MSB ID 31000236749579.
Upon verification, Colorado's information marketplace shows that Pocketx Ltd's company registration number is 20231166731. However, no regulatory information for Pocketx Ltd could be found on the websites of the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC). Additionally, FinCEN's primary responsibility is to safeguard the financial system through financial intelligence, combating money laundering, and terrorist financing, not directly regulating CFD brokers.
Furthermore, the design and content of Pocketx Ltd's website are highly similar to those of known scam brokers, all using the same website template.
Therefore, Pocketx Ltd is essentially an unregulated scam platform.
Trading Products
Pocketx Ltd offers trading in the following financial derivatives:
- Forex: Including major currency pairs like EUR/USD, USD/CAD, GBP/USD, USD/JPY.
- Precious Metals: Spot trading in Gold (XAUUSD), Silver (XAGUSD).
- Crude Oil: Trading in U.S. Oil (UsOIL).
- Indices: Trading in indices like Nikkei 225 (N225), DAX (GER30), S&P 500 (US500).
- Cryptocurrencies: Various digital currency pairs such as Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD).
Account Registration Process
The account registration process for Pocketx Ltd is as follows:
- Visit the official website and click the "Register" button to enter the registration page.
- Fill in your personal email and set a password, then receive a verification code by email.
- Input the verification code and submit the application form. After successful account registration, complete KYC verification to make deposits and start trading.
Trading Account Information
Pocketx Ltd's official website provides only basic information such as spreads, leverage, and contract size. Other crucial trading parameters like account types, trading commissions, and minimum/maximum trading volumes are not disclosed.
- Base Currency: USD
- Spreads: Floating spreads starting from 1 pip
- Leverage: 1:100
- Contract Size: 1 lot = 100,000 currency units
Trading Platform
Pocketx Ltd claims to offer the ST5 trading platform, which supports both desktop and mobile versions and provides over 50 technical indicators and intraday analysis tools. However, in reality, the ST5 design is rudimentary and commonly used by scam brokers.
Deposits and Withdrawals
Pocketx Ltd does not provide detailed information on its official website regarding supported deposit/withdrawal methods, fees, or minimum deposit/withdrawal amounts.
Conclusion
Traderknows reminds investors that Pocketx Ltd is an unregulated broker with potential fraud risks. The company only provides a single contact method through email. Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation to avoid financial losses.
Currently, Pocketx Ltd is labeled as "Suspected Fraud" on Traderknows.
