Quotex ReviewCategory: Reviews | Author: Trading Brokers | Date: September 12, 2023
If you are looking for a way to invest your money online, you might have come across Quotex, a platform that allows you to trade digital options on various markets. Quotex is an online investment platform that offers digital options trading on various assets, such as currency pairs, stocks, commodities, and cryptocurrencies. Quotex claims to provide innovative and powerful tools, such as trading signals, indicators, and fast execution speeds, to help traders make smart and profitable decisions. But how reliable and trustworthy is Quotex as a broker? In this article, we will review Quotex based on the following factors: regulation, platforms and tools, education, markets, accounts, and funding.
Pros & Cons
- Quotex offers a user-friendly web platform with a range of powerful trading tools.
- Quotex does not impose fees on deposits or withdrawals and supports multiple payment methods.
- The platform features a low minimum deposit of $10
- Quotex lacks regulation by reputable authorities, potentially leaving clients without legal protection or compensation.
- The platform has limited educational resources
- Quotex is not available to clients from certain countries and does not support some languages, limiting accessibility.
Quotex is an innovative online investment platform, introduced in 2019 by Awesomo Ltd, a Seychelles-based company duly regulated by the International Financial Markets Regulatory Center (IFMRRC). Quotex provides an extensive suite of over 400 complimentary tools to its clients, enabling them to engage in trading activities across a diverse spectrum of assets, including currency quotes, stocks, major indices, precious metals, oil, gas, and cryptocurrencies. Noteworthy features of Quotex encompass copy trading functionality, a valuable demo account, and round-the-clock customer support. Quotex distinguishes itself with its claim of offering the highest average profitability within the binary options domain, specifically for currency pairs. Moreover, it stands out by refraining from imposing any commissions on deposits and withdrawals. Quotes is firmly committed to fostering an environment characterized by both comfort and transparency for all users of the platform, regardless of their level of experience or geographical location.
Quotex is a platform operated by Awesomo LTD, a company registered in Seychelles with the registration number 221042. Quotex is not regulated by any government authority or reputable financial institution. Instead, it is regulated by the International Financial Market Relations Regulation Center (IFMRRC), an independent organization that provides certification and verification services for online brokers. IFMRRC aims to “protect the interests of investors and provide an objective evaluation of brokers’ activities”. It also has “the right to impose sanctions on brokers for violating the rules of conduct”.
However, IFMRRC does not have any legal power or authority to enforce its rules or protect traders from fraud or misconduct. It is not recognized by any official regulator, such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in the EU, or the Australian Securities and Investments Commission (ASIC) in Australia.
Platforms & Tools
Quotex provides its own web-based trading platform that is accessible from any device and browser. The platform has a simple and intuitive design that allows traders to easily navigate and customize their trading settings. The platform also offers various features and tools, such as trading signals, indicators, charts, technical analysis tools, social trading, and market news, to help traders analyze the market and execute their trades. The platform supports multiple languages, such as English, Spanish, Portuguese, Russian, Turkish, Indonesian, Thai, Vietnamese, Hindi, and Arabic.
Quotex also has a mobile app that is compatible with Android devices and offers the same functionality as the web platform. Some of the main features and tools of the Quotex platform are:
- Trading signals: Quotex provides free trading signals that are generated by an algorithm based on market trends and conditions. The signals indicate the direction, asset, expiry time, and confidence level of a potential trade. Traders can use the signals as a guide or copy them directly to their own trades.
- Indicators: Quotex offers a variety of indicators that can help traders identify the patterns and trends of the market. Some of the indicators available on the platform are moving averages, Bollinger bands, MACD, RSI, Stochastic oscillator, Parabolic SAR, etc. Traders can apply different indicators to their charts and adjust their settings according to their preferences.
- Charts: Quotex provides different types of charts that can help traders visualize the price movements of the assets. Some of the chart types available on the platform are line charts, area charts, candlestick charts, bar charts, etc. Traders can also switch between different time frames and zoom in or out of the charts.
- Technical analysis tools: Quotex offers various tools that can help traders perform technical analysis on the market. Some of the tools available on the platform are trend lines, horizontal lines, Fibonacci retracement, etc. Traders can use these tools to draw and mark their own support and resistance levels, entry and exit points, etc.
- Social trading: Quotex allows traders to follow and copy other successful traders on the platform. Traders can view the profiles, statistics, and trading history of other traders and choose to copy their trades automatically or manually. Traders can also communicate with other traders through a chat feature and share their ideas and opinions.
- Market news: Quotex provides updated market news and analysis that can help traders stay informed of the latest events and developments that may affect the market. The news section covers various topics, such as economic data releases, political events, company earnings reports, etc. Traders can also filter the news by categories and regions.
Quotex claims to provide innovative and powerful tools, such as trading signals, indicators, and fast execution speeds, to help traders make smart and profitable decisions. However, Quotex does not offer much in terms of education and learning resources for its clients. The only educational material available on the website is a FAQ section that answers some basic questions about digital options trading and the platform.
Quotex also provides a demo account for its clients, but this information is not clearly stated on its official website. The only way to access the demo account is to sign up and log in to the platform. The demo account has a balance of $10,000 and allows traders to practice trading with virtual money on the same platform and assets as the real account. The demo account is a useful feature that can help traders learn and improve their trading skills without risking real money.
However, Quotex does not have any tutorials, videos, webinars, ebooks, or articles that explain the concepts and strategies of digital options trading in detail. Quotex also does not have any official or affiliated educational partners or channels that provide training or courses on digital options trading. Therefore, Quotex is not suitable for beginners or inexperienced traders who need guidance and support to learn and improve their trading skills. Quotex expects its clients to have prior knowledge and experience in digital options trading and to be able to use the tools and features of the platform effectively. Quotex also does not take any responsibility for the results or outcomes of the trades made by its clients.
Quotex is an online investment platform that offers digital options trading on various assets, such as currency pairs, stocks, commodities, and cryptocurrencies. Digital options are a type of financial instrument that allows traders to predict the direction of the price movement of an underlying asset within a specified time frame and earn a fixed return if their prediction is correct. Quotex offers a wide range of markets and assets for traders to choose from. There are over 400 assets available on the platform, including 40 currency pairs, 100 stocks, 20 commodities, 20 indices, and 220 cryptocurrencies.
The assets cover various regions and sectors of the global economy, such as North America, Europe, Asia-Pacific, Middle East, Africa, Latin America, technology, energy, finance, healthcare, agriculture, metals, etc. The expiry times for digital options range from 1 minute to 4 hours. The minimum investment amount per trade is $1 and the maximum is $1000.
Quotex is an online investment platform that offers digital options trading on various assets. It has different account types for its clients, depending on their trading experience and preferences. Here is a brief overview of the account types:
- Demo account: This is a free account that allows traders to practice trading with virtual money on the same platform and assets as the real account. The demo account has a balance of $10,000 and can be accessed by signing up and logging in to the platform. The demo account is a useful feature that can help traders learn and improve their trading skills without risking real money.
- Standard account: This is the basic account that requires a minimum deposit of $10 to start trading. The standard account provides access to all the features and tools of the Quotex platform, such as trading signals, indicators, charts, technical analysis tools, social trading, and market news. The standard account also offers competitive payouts of up to 98% on various assets.
- Pro account: This is an advanced account that requires a minimum deposit of $500 to start trading. The pro account offers additional benefits, such as risk management tools, personal manager, priority withdrawal, and higher payouts of up to 100% on selected assets.
- VIP account: This is the premium account that requires a minimum deposit of $1,000 to start trading. The VIP account offers full platform capabilities, such as exclusive trading signals, indicators, strategies, webinars, and market analysis. The VIP account also offers higher payouts of up to 100% on all assets and a 30% deposit bonus.
Quotex has a simple and convenient funding process for its clients. Quotex does not charge any commissions or fees for deposits or withdrawals. Quotex also offers various payment methods, such as credit/debit cards, e-wallets, cryptocurrencies, etc., to suit different preferences and needs. Some of the main features and details of the funding process are:
- Deposits: Quotex requires a minimum deposit of $10 to start trading. Quotex accepts deposits in various currencies, such as USD, EUR, GBP, RUB, etc. Quotex also supports deposits in cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, etc. Quotex offers various payment methods for deposits, such as credit/debit cards (Visa/Mastercard), e-wallets (Skrill/Neteller), cryptocurrencies (Bitcoin/Ethereum), etc. The deposits are processed instantly and credited to the trading account.
- Withdrawals: Quotex requires a minimum withdrawal amount of $10 and a maximum withdrawal amount of $10 000 per day. Quotex offers the same payment methods for withdrawals as for deposits. The withdrawals are processed within 24 hours on weekdays and may take up to 3 days to reach the bank account or e-wallet. The withdrawals in cryptocurrencies are processed within 15 minutes and may take up to 2 hours to reach the wallet. Quotex does not charge any fees for withdrawals, but some payment providers may charge their own fees.
- Verification: Quotex requires its clients to verify their identity and address before making their first withdrawal. Quotex also reserves the right to request additional verification documents at any time. The verification process is simple and fast and can be done by uploading the required documents on the platform or sending them by email. The verification documents include proof of identity (such as a passport, driver’s license, national ID card, etc.) and proof of address (such as utility bill, bank statement, etc.).
- Security: Quotex claims to use advanced encryption and security technologies to protect the personal and financial data of its clients. Quotex also states that it follows strict rules and policies regarding non-trading operations, such as deposits, withdrawals, verification, and anti-money laundering.
In summary, Quotex is an innovative online investment platform offering digital options trading on various assets, backed by Awesomo Ltd’s operation since 2019. Although regulated by the International Financial Market Relations Regulation Center (IFMRRC), it lacks recognition from major regulatory bodies, raising concerns about investor protection. The platform provides a range of features, including trading signals, indicators, and a user-friendly interface. However, Quotex falls short in terms of educational resources, offering only a limited FAQ section. It boasts a wide array of tradable assets and account types, including a useful demo account. However, it’s essential to maintain a balanced perspective. While Quotex has proven itself as a competitive option for traders, it’s worth noting that there are other platforms with longer track records in the industry. These alternatives have established themselves over time, earning the trust of a broad user base. As a result, we strongly encourage you to explore our comprehensive trading broker reviews.