Pocket Broker Review – Is This Regulated & Legit?

How Safe Is Pocket Broker? A Regulatory Deep Dive

Pocket Broker, registered in South Africa in 2017, claims to offer low-cost share trading with a $1 minimum deposit. However, the Financial Sector Conduct Authority (FSCA) has flagged it as a suspicious clone, meaning it falsely represents a licensed entity. Our investigation confirms that its supposed license (53333) belongs to Frontier Markets (Pty) Ltd, not Pocket Broker.

Given this regulatory red flag, we strongly advise caution before depositing funds.

Frequently Asked Questions About Pocket Broker

1. Is Pocket Broker regulated?

No. The FSCA has issued a clone warning, meaning it operates without proper authorization.

2. Can I trust Pocket Broker with my money?

Given the regulatory concerns, we recommend avoiding this broker. Clone firms often pose high risks of fraud or fund mismanagement.

3. What trading instruments does Pocket Broker offer?

Only shares (e.g., Tesla, Apple). It does not support forex, commodities, crypto, or ETFs.

4. Does Pocket Broker charge deposit or withdrawal fees?

The broker claims no fees, but transparency is lacking—key details (processing times, limits) are undisclosed.

5. How do I withdraw money from Pocket Broker?

Withdrawal methods are unclear. Since its unregulated, recovering funds could be difficult.

6. Are there any hidden fees?

Pocket Broker states no platform or registration fees, but its legitimacy issues make all claims questionable.

Who Regulates Pocket Broker?

Pocket Broker: Pros & Cons

Disclaimer

Investor protection varies across different regulatory authorities, and some jurisdictions may not offer compensation funds or negative balance protection. It is recommended to prioritize brokers with sound regulatory status.