What is Pocket Option Cashback and How Does it Work?
Pocket Option Cashback is a unique feature designed to mitigate traders’ losses by returning a percentage of their used funds to their trading account balance. This system allows traders to recoup up to 10% of their total losses, providing a financial cushion in the volatile world of trading.
The cashback mechanism is straightforward:
- Once activated, the cashback is automatically added to the trader’s balance on the first day of every month.
- This addition occurs if the total loss for the previous month (or since the date of activation) is greater than the profit.
- The cashback feature has a validity period of one year from the date of activation.
Additional Benefits and Example of Use
The Pocket Option Cashback program offers several benefits beyond the direct financial return:
Risk Mitigation: It provides a safety net, allowing traders to take calculated risks.
Extended Trading Time: The cashback can help traders stay in the market longer, even after a series of losses.
Psychological Comfort: Knowing that a portion of losses will be returned can reduce trading stress.
Example Calculation:
Let’s consider a trader with a 7% cashback rate:
Month 1:
Total trades: $10,000
Total losses: $3,000
Cashback received: $3,000 x 7% = $210
Month 2:
Total trades: $15,000
Total losses: $5,000
Cashback received: $5,000 x 7% = $350
Over two months, the trader would receive $560 in cashback, significantly reducing their net losses.
Where and How to Get Cashback
Traders can access the cashback feature through two primary methods:
Purchase at Market:
Navigate to the Market section on the Pocket Option platform.
- Look for the Cashback section.
- Choose the desired cashback percentage based on available gems.
- Complete the purchase to activate the cashback.
Cashback Codes:
- Occasionally, Pocket Option releases promo codes for cashback.
- These codes can be found on promotional websites or Pocket Option’s official channels.
- Promo codes typically offer 2-3% cashback.
How to Activate Cashback
Activation process:
Log into your Pocket Option account.
Go to the “Purchases” section in the Market.
Select the desired cashback percentage.
Confirm the purchase and activate the cashback feature.
For codes:
Log into your account.
Navigate to the “Finance” section.
Select “Promo Code” and enter the cashback code.
Confirm activation.
Possible Problems When Using Cashback
Users might encounter several issues when trying to utilize the cashback feature:
Insufficient Gems: If a trader doesn’t have enough gems to purchase the desired cashback percentage, they may need to accumulate more or opt for a lower percentage.
Unmet Conditions: The cashback is only credited when losses exceed profits. If a trader has a profitable month, no cashback will be received.
Expiration Oversight: Traders might forget to renew their cashback after the one-year period, leading to a lapse in coverage.
Percentage Confusion: Some traders might not realize they can increase their cashback percentage, missing out on higher returns.
Promo Code Limitations: Cashback promo codes often have limited availability and expiration dates, which traders might overlook.
In conclusion, the Pocket Option Cashback feature stands out as a valuable tool for traders looking to mitigate risks and optimize their trading experience. By understanding its mechanics, benefits, and potential pitfalls, traders can leverage this feature to enhance their overall trading strategy. As with any trading tool, it’s crucial to use the cashback feature wisely and in conjunction with sound trading practices and risk management strategies.