Pocket Option: a losing trade
A loss-making transaction at binary options trading - is a contract closed in the negative. Not only newbies, but also experienced traders face such situations. Experienced traders do not panic at such moments because they know that it is impossible to trade always in profit. The situation is quite different with the newbies. Many of them trade without any strategy or market analysis, which leads to a high percentage of losses. What should I do in case of the losing trade with the broker? Pocket Option?
Canceling a losing trade
Pocket Option is one of the first Binary options brokers, which offered its customers the opportunity to cancel transactions. Under this program the client can buy promo code to cancel a contract. The promo code can be used to cancel any contract closed in deficit for a certain amount. Cancellation takes place in your personal cabinet. To get a refund, log in to the cabinet on the site pocketoption.com. Find the contract you want to cancel in the order history. Apply the promo code. After that, the contract will be cancelled and the money lost on it will be returned to the trader's account.
How do I buy a promo code on pocketoption.com?
You can buy a coupon from the broker for the internal currency - crystals. They come in different types and are issued for certain achievements. Crystals can be received for trading on the platform, depositing or closing several profitable contracts in a row. You may also buy them in the trading platform's store. But, even with crystals, not all traders can cancel unprofitable operation. This option becomes available for accounts starting from the fifth level. The account level also affects the amount to be cancelled, for example, to return $100, you must have a ticket with the face value of 100 and have a seventh level account. To return $1000, you will need a ticket of 1000 and the eleventh account level.
Traders, whose level does not allow to cancel trades, can buy or get a promo code on a third-party resource. In this case the secret code will be valid for a certain amount (most often up to $10). Advantages of the bonus program:
- You can buy the code for crystals at pocketoption.com. Crystals can be obtained for free, trading as usual or purchased for fiat.
- The code cancels a trade for the amount of face value. Traders are recommended to have several tickets of different denominations in stock.
- When the code is applied, the amount of loss is returned to the account. The money is returned to the trading account, not to the bonus account.
You can search for resources that give away secret codes on the Internet. But even if the promo is free, you will be required to do something in return. For example, it could be the closure of your current account and a new registration on the platform using an affiliate link.
Nuances in the cancellation of transactions
Consider the following nuances when returning unprofitable operations:
- A coupon can be a single-use or multiple-use. When making a purchase, choose a code that is valid from two times.
- Coupon denomination. When selecting a transaction to cancel, pay attention to the denomination of the coupon. If you have coupon 50, for example, and you cancel on $30, you cannot use the remaining face value.
- There are non-cancellable operations. On the Pocket Option site, orders to which hedging was applied are not subject to cancellation.
Cancellation of losing operations is a pleasant option for traders. The option allows you to safely test strategies with the opportunity to recover lost money. When actively trading on the platform, it is recommended not only to buy promo codes from the broker, but also to regularly browse partner sites, where a coupon can be obtained for free or won in a contest or tournament. Register on the broker's website and start your way into binary options trading with a money back when you fail.