Quotex review – Is it a scam or not? – Test of the broker
Binary options trading can result in significant gains or losses very quickly. This financial product is appealing to many traders. Therefore, it is crucial to invest with a trustworthy internet broker. A new trading platform called Quotex.io, Quotex.com, or qxbroker.com provides these services.
I’ll check Quotex for you in this review and test and tell you the truth about this broker. What are the trading terms, how does the platform operate, and how quickly may gains be paid out? I’ll use Quotex to address all the crucial inquiries for novices. Should you put your money there and have faith in this broker? If so, is it a scam? – Read my frank Quotex review to find out.
Describe Quotex. – The broker displayed
A new digital options broker called Quotex offers trading in more than 100 markets. The platform was established in 2020 and is run by Maxbit LLC (owner), whose headquarters are located at First Floor, First St Vincent Bank LTD Building, James Street, Kingstown, St. Vincent and the Grenadines. It is an ordinary offshore broker that welcomes all kinds of customers. You can trade on the markets and receive a high yield of up to 95%. For example, if you put $100 in a rising EUR/USD chart and are correct within a set time frame, you will make $195. Later, I’ll go into further depth to demonstrate the process for you.
Official Quotex website
A recently developed trading platform and software are presented by the online broker. Both desktop and mobile platforms are supported by the platform. The business operates in more than 20 nations and provides service in several languages. Because the broker is so new, there isn’t a lot of information on the company online. But my initial thoughts are actually fairly positive. The Quotex platform has solid deals for customers and market investment.
Quotex is – Broker security and regulation
I advise choosing a regulated broker and platform if you wish to invest in the financial markets or any type of financial product. Beware of reviews similar to this Quotex review. When investing in financial products, it is crucial for investors to feel quite secure. When it comes to trading Binary Options, you can find a lot of frauds and scams online. You ought to pick a licensed Binary Options broker to prevent fraud or scams.
I have found the Quotex broker to be a reliable and secure internet broker. The software passed my multiple tests, and I now use it as my primary trading broker. Money deposits and withdrawals happen quite quickly. With the registration number TSRF RU 0395 AA V0161, Quotex is governed by the International Financial Market Relations Regulation Center (IFMRRC). To view the license, click the number.
Control of Quotex (certificate)
The FMRRC regulation is an international and independent regulator; it is not a regulation of an official finance authority. Additionally, Quotex is a legitimate business with the company ID 226716. Quotex appears to be a reliable broker for stock trading. Additionally, I looked for unfavorable reviews of this trading service, but I was unable to locate any. Furthermore, deposits and withdrawals can only be made through secure, regulated payment methods. In conclusion, I can state that the Quotex platform is a safe broker for electronic option trading.
• IFMRRC-regulated under license number TSRF RU 0395 AA V0161
• 226716 is the registered company number.
• A platform or website that is secure
• There is 2-factor authentication available.
• Safe payment techniques
Quotex: Is it authentic or not? – Summary of my review
Especially when compared to other trading platforms, Quotex is unquestionably legitimate, and I can suggest this trading platform. There are no additional costs for the quick deposits and withdrawals. With Quotex, you can generate money and safely withdraw it in a few minutes or hours. The broker is quite secure, according to my own testing. Actually, I had a profit of almost 8,000 dollars. You will see my withdrawal proof later on in this Quotex test.
measures to protect your money and traders
Security precautions are essential in binary trading for the sake of your money’s security. Of course, you want to trade with a binary broker that safeguards your personal information and gives you a sense of security. I can tell you from experience that Quotex makes every effort to maintain a high degree of security for its traders. There are no concerns about the platform’s safety or your own as a trader on it.
Review of the trading terms and promotions for Quotex (QX Broker)
With Quotex, you may use binary options to invest in the financial markets (a form of digital options). The method is really straightforward; all you have to do is forecast a price movement correctly within a predetermined window of time (expiry time). Before registering with any broker, it is important to review the terms for investors and traders. For instance, receiving the chance of big yields on assets from the broker is crucial for a binary trader.
The availability of offers, bonuses, and assets is also crucial. I examined every aspect of Quotex (qxbroker.com) in my evaluation, and I’ll present the findings to you.
Brief descriptions of the offers:
• A $10 minimum deposit is required.
• $1 is the minimal trade amount
• Trade cryptocurrencies, stock indexes, commodities, and foreign exchange.
• Trade yield of up to 95%+
• From 60 seconds to 4 hours, the expiration time
• Up to 100% bonus
Use the coupon code “bobroker50” to receive a 50% free deposit bonus.
Minimum trading and deposit amounts on Quotex: How to begin investing
You must deposit at least $ 10 when you sign up for Quotex. The minimum deposit is $10, although it may vary depending on how it is made. Various payment options are available, and they vary based on where you live. For instance, European traders have access to different payment options than American traders have.
For example, if you’re a trader in Europe and want to use the cryptocurrency Ripple, you must deposit at least $50. MasterCard only requires a minimum purchase of $10. When compared to other online brokers and trading platforms, this minimum deposit is extremely inexpensive. Starting with ten dollars is simple.
Additionally, there is a $1 minimum trading amount. Starting out with little capital is possible. Beginners should just start with $1 and see how it goes, in my opinion. If you don’t want to invest real money right away, you can use the $10,000 free demo account.
Markets and resources
Quotex makes a trading offer:
• Currency (forex)
• Cryptocurrencies
• Commodities
Indexes of Stocks
• (OTC charts are accessible for weekend trading!)
Quotex is a brand-new online broker, as was previously reported. The management will gradually improve and expand the trading platform. They intend to expand the platform’s trading assets. You can select the asset you want by simply going to the menu. You can trade today on more than 100 different markets.
What kind of earnings are possible with the QX Broker? – Yield (profit)
One deal can only have a yield of up to 95%+. For instance, if you put $100 into the EUR/USD and correctly estimate how it would move, you will make $ 195. The asset, expiration date, and account level all affect the yield. Like me, you may earn an additional 4% profit on each trade if you are a VIP member.
There are various trading tactics. Personally, I advise trading during the regular trading hours of the stock exchange and investing in liquid assets. You will obtain the maximum yield in these markets. But if you stand on the platform, you can see it for yourself.
• Up to 95%+ in yield (profit) per deal
• The amount of profit depends on the asset and market conditions you select.
• The profit is based on the moment of expiration.
Time limit
Binary options (also known as digital options) have an expiration date. Some brokers only let you trade for 60 or 5 minutes at a time. The broker’s choice of what to offer clients determines the expiry time in every case. You’re in luck if you use Quotex.com. You have a range of options for expiry times, from 60 seconds to 4 hours. Between those two options is feasible. You can select an expiration time of 2.30 minutes, for instance.
Explained: Quotex (QX Broker) bonus
A bonus is uncompensated money that has been added to your account. Your virtual money is a gift from the broker for trading. But you must have a turnover (volume) based on the bonus, so it is not entirely free. It is necessary to multiply the bonus amount by 100. The volume of trading you must do on the platform as a result before you can withdraw the bonus. You can use a promo code or make a deposit to receive the bonus.
• Bonus of 100% or more
• The bonus is always deactivatable.
• Bonus turnover is 100 times (before a withdrawal is possible)
Use the coupon code “bobroker50” to receive a 50% free deposit bonus.
Promo code for Quotex with bonus money
Even if you only make a $100 deposit, the promotional code enables you to receive a larger bonus. You will receive a 50% free bonus using my promo code. Keep in mind that the discount code is only valid for up to 25 new traders:
Promo code for the Quotex platform: “bobroker50”
Open a free account with Quotex to get trading right away!
(Danger disclosure: Your money could be at risk.)
Trading commissions: How much does trading on Quotex cost?
One of the best features of the Quotex platform, in my opinion, is that there are never any costs associated with any activity or asset traded there. There are no fees associated with using this binary options broker.
Deposit and withdrawal fees are nonexistent. You won’t be charged to begin trading or to top off your account. Additionally, there are no fees associated with trading any of the accessible assets. Brokers may impose an inactivity fee. Why does that matter? The site will let you pay for that if you don’t log into your account for a prolonged period of time. You won’t be charged an inactivity fee because Quotex is not a broker of this type.
Platform for trading Quotex is being tested.
As you have already read, the trading terms are highly favorable and superior to those offered by the majority of other binary options brokers. I’ll now go into further detail and walk you through the trading platform. I used actual money to trade on the software during my many weeks of testing. I demonstrate the outcomes, features, and appropriate usage. After passing this test, you’ll understand what Quotex is all about.
There are the following platforms:
• Web-based trading platform for desktop and mobile computers
• An Android app (apk)
• iPhone (iOS) mobile app
An image of the Quotex trading platform may be seen here:
Platform for exchanging quotes
The Quotex trading platform for desktop devices is shown in the image above. The platform is accessible through your web browser (chrome, safari, opera, internet explorer, and more). I’ll demonstrate the platform and trading account functionality in the next sections.
As soon as you log into the platform, a random chart will appear. The areas for your account, education, tutorials, financial situation, and signals are located on the left side. The menu is standard, and it is where you control your account.
Check out my platform video here:
You can select the asset menu to change and analyze the asset:
Asset list
Select the asset you want to trade, then begin your analysis. The use of many charts is also an option. Multiple charts can be opened at once, and you can switch between them.
Payouts
The asset and time duration have an impact on the payout %.
The payoff is likely to be lower for new positions if a big percentage of traders are all betting in the same direction; nevertheless, those taking the contrarian view are likely to experience a payout percentage that is higher than predicted. Returns will also vary based on current transaction information.
Analysis and charting
You need to accurately predict the direction of price movement in order to trade binary options profitably. To come up with trading ideas, the majority of skilled traders use technical analysis. For a competent technical analysis, indicators, several types of charts, and various time frames are used.
You can use a wide range of tools at Quotex to study the markets (including trading signals). For analysis, you can select from more than 30 indicators, 4 different styles of charts, and several time intervals. There are even tools for technical drawing available.
• A wide range of technical indicators, including oscillators, MCAD, and Bollinger bands
• There are various chart types available.
• All time frames are offered.
• Expert charting is feasible
Opening your Quotex trade: Trading instruction for Quotex
How does Quotex trading work? The next stage is for me to demonstrate it to you. Additionally, you may view videos of my live trading on my binaryoptions.com channel on YouTube. You can learn how to trade by seeing the following image.
You must first decide which asset you wish to trade and develop a trading strategy (forecast of the price movement). Next, you decide when the trade will expire. When should I expect to earn from the trade? You must accurately estimate your trade time. Afterward, you decide on the best trading investment (trading amount). With a Quotex trade, the minimal trading amount is $1. I advise employing an investment that complements a consistent money management plan. This implies that you allocate 1% to 2% of your trading balance to one trade. You then decide on the trading direction and initiate the deal. Wait to collect the profit or loss until the expiry time has passed.
1. Select the trading asset you want to use.
2. Select the expiry time between 60 seconds and 4 hours.
3. Select your investment amount (the minimum and maximum trade amounts are $1 and $1,000, respectively).
4. Select the trade’s direction.
5. Await the trade’s conclusion.
Trade on the go with the Quotex app
For the widely used iOS and Android operating systems, Quotex provides a mobile app. Therefore, you can trade using the Quotex app from anywhere, regardless of whether you have an iPhone or a smartphone that runs Android. They both operate in the same way.
App Quotex for Android
Look at the screenshot up there. You can trade using the Quotex app in addition to trading on the desktop version. Regardless of whether you are using the phone in landscape or portrait mode, after choosing the asset you wish to trade, a chart will appear in the center of the screen.
The expiry time, the investment amount, and the two buttons (Up and Down) can all be found at the bottom of the screen when utilizing the portrait format. Simply set the money, the period, and whether you want to buy or sell.
Tips for trading various assets on Quotex IO:
You can trade a variety of assets on the platform. Let’s examine typical assets and see if Quotex allows for their trading.
Does Quotex allow forex trading?
Forex trading is not possible on Quotex, sorry. Binary Options can only be traded using currency pairings as the underlying asset!
Can binary options be traded on Quotex?
Of course, you can trade binary options on this binary options broker, as you may already be aware. To trade, you simply need to decide on an asset, establish the investment and expiration dates, and inform the broker whether the price is rising or falling.
On Quotex, are cryptocurrencies possible to trade?
Yes, you can trade a variety of different cryptocurrencies. A brief excerpt: You can trade in Litecoin, Bitcoin, Ripple, or Ethereum.
Is Quotex a stock trading platform?
On Quotex, you can trade stocks. There are a variety of stocks accessible from around the globe. Along with choosing from indices like NASDAQ, Dow Jones, or foreign ones like the Nikkei or DAX, you can also choose from firms like Microsoft, Boeing, or Intel.
How to register for a Quotex trading account
You only need an email address and a strong password to sign up for Quotex. You can begin trading without verification at first.
Verification process for Quotex
If you want to deposit or withdraw large sums of money, the broker can ask you to upload your ID card. Simply select “Account” from your personal menu to upload your papers. By selecting “Upload Documents” from the account menu, you can enter your name and address into the relevant fields.
(Danger disclosure: Your money could be at risk.)
Quotex account types
In addition to the demo account, which I will introduce to you later, Quotex offers three other accounts. The three types of accounts are:
1. ordinary account
2. Account Pro
3. A VIP profile
Quotex has three distinct account tiers (besides the demo account)
You must deposit at least $10 to validate your standard account, which will provide you access to a few trading asset possibilities. For new investors who don’t make substantial financial commitments, this account type is advised. You only need to deposit the required minimum of $ 10 to begin trading.
You can upgrade to the pro account after you’re confident and have made your first payment. You need to deposit at least $1,000 in order to access it. A few premium advantages will be included in your list of normal account features.
You feel that this is not enough? proceed to the professional account level after that. Quotex offers its VIP account to seasoned traders. To receive these perks, a minimum deposit of $5,000 is required.
Quotex sample account: The ideal method for trading practice
Use a demo account when you want to practice trading. It is an effective approach to learn about investing, particularly for newcomers. Additionally, you can learn more, experiment with different trading methods, or test the trading platform. Even seasoned traders use a practice account to improve their skills.
The trading platform provides a free demo account with $10,000 in fictitious funds. The account balance can be added to whenever you like. Switching between your real and demo accounts is simple. There is only one menu click required. To learn more about the trading platform, I advise using the free demo account first. If you are confident and certain that you want to trade, you can start with tiny sums of $1 or invest real money. There is no registration required to access the demo account.
Logging into Quotex is incredibly safe and easy.
You must log in to the web platform or mobile app before you can begin trading. Just your email address and password are required. I advise turning on 2-factor authentication for both the login and withdrawal.
A security code will be sent to you via email or SMS. You should use that security function because it is really critical. For its services, the broker employs a variety of URLs:
• quotex.io
• quotex.com
• qxbroker.com
(Danger disclosure: Your money could be at risk.)
Verification of quotes: What you need, how long it takes
You must get ready with some documents if you want to verify your account (you can trade without it, but with some limitations).
Verification process for Quotex
You must first click on your personal settings and then select the “Account” tab. You then select “Upload Documents” from the menu. You will require:
• A duplicate of page one of your passport
• A selfie for identification purposes
• Documentation showing the current address of the home to corroborate
Once you’ve finished, it usually takes 2 to 5 business days for Quotex to finish the verification.
Payment options for both deposits and withdrawals
You must first deposit funds into your trading account if you wish to begin trading. Fortunately, Quotex accepts a wide range of payment options. Let’s look at the options available for money deposits and withdrawals.
How to make a deposit – Deposit techniques
You can choose “Deposit Funds” from the menu to access the deposit methods. With Quotex, money deposits are incredibly simple. The deposits are quick and there are no additional expenses. Credit cards, cryptocurrency, and e-wallets are your options. The payment options vary by country of residence and the minimum deposit is $10.
You can select the amount and a deposit bonus of up to 35% after selecting the deposit method you prefer to utilize. The bonus was already discussed in this review. Enter your information and begin the deposit.
• A $10 minimum deposit is required.
• Debit and credit cards (Visa, MasterCard, and more)
• There are options for online bank transfers.
• Digital currency (Bitcoin, USDT, Ethereum, Ripple, Zcash, Binance Coin, and more)
• eWallets (Skrill, Neteller, ADVCash, Perfect Money, Piastrix, and more)
• The payment options vary by the nation in which you reside.
Are there any bonuses for deposits?
This is a fascinating query. Why? I’m able to provide you with a special bonus code that is only valid on this website. Use this code to increase your initial deposit if you’re just starting off trading binary options.
Simply enter the promotional code “bobroker50” to receive a 50% bonus on your first deposit.
Use the coupon code “bobroker50” to receive a 50% free deposit bonus.
(Danger disclosure: Your money could be at risk.)
How to make a withdrawal – Quotex withdrawal procedures
If you have discovered a profitable trading technique and wish to withdraw funds from your account or gains, simply select “withdrawal” from the menu.
You can see how much money is available for withdrawal on the left side. These figures could be impacted by the bonus amount. You must select the same method for withdrawals as for deposits.
I can attest that the withdrawals happen quickly. I repeated the process several times, and Quotex is rapidly sending the money. If the broker pays out the winnings, many traders are worried. You can be sure that Quotex will complete the withdrawal quickly and securely. I demonstrate my withdrawal proof in the part that follows.
You will receive a confirmation email after requesting a withdrawal:
• Extremely quick withdrawal techniques (more or less the same as deposit methods)
• Reliable and secure
There is no maximum withdrawal allowed or withdrawal limit.
• $10 is the minimal withdrawal amount
Read my comprehensive evaluation of Quotex withdrawal here as well.
(Danger disclosure: Your money could be at risk.)
My evidence for Quotex withdrawal
Does Quotex accept payments? – It does, indeed:
Proof of Quotex withdrawal
The revenues are withheld by Quotex, as you can see on my menu. I’ve done it multiple times, and there are no issues with money withdrawals. Additionally, according to some internet study I completed, there are no traders at odds with this broker. For instance, you may discover a lot of favorable reviews on Quora.
Open a free account with Quotex to get trading right away!
(Danger disclosure: Your money could be at risk.)
According to the Quotex marketplace:
Quotex provides a marketplace where Traders can purchase extra perks:
Marketplace quotes
• Risk-free transactions
• Cashback
Deposit bonuses –
• Turnover rate in percentage
• Bonus balance
• Remove X Points
These features can all only be accessed with a promotional code. How can I receive a promotion code, you ask? After attaining a particular trading volume or making a deposit, you will receive free promotional coupons if you start trading with real money on Quotex. For traders that invest and trade a lot of money, it is a really useful tool. This function is something I can endorse, and it’s totally free.
Use the coupon code “bobroker50” to receive a 50% free deposit bonus.
Exclusive promotion: risk-free transactions on Quotex
Everyone who uses the Quotex web trading platform has the opportunity to make risk-free trades. The broker will occasionally offer you rebates or coupon coupons for trades that are risk-free. As we previously explained, the market will reward you greatly if you are a high volume trader. Additionally, you can request risk-free trades from the support.
Professional deal: signals and quotex copy trading
The trading indications on Quotex.io are another unique feature. Another name for it is “copy trading.” The section labeled “signals” can be found on the menu’s left side.
Trading signals for Quotex
Pay attention to the trading indications displayed on the trading platform, and you can strike it rich by successfully trading the market. You can see the asset and the trades’ durations. Sadly, neither a description nor a strategy for the trades exist. You are unaware of the cause of the up or down signal. Perhaps it is the outcome of technical analysis. Although I find the signals to be too opaque to use, it is a nice deal for beginning traders.
Customer care and assistance
Quotex provides customer service around-the-clock in more than 20 languages. There are many different languages supported in addition to English, French, India, and Spanish.
There is a minor drawback due to Quotex’s lack of phone support. Only the live chat and ticket assistance are available for contacting the broker (email).
• Numerous tongues
• 24/7 Live Chat
• Support via email and tickets
• No phone assistance
Open a free account with Quotex to get trading right away!
(Danger disclosure: Your money could be at risk.)
Education resources: Using Quotex to learn how to trade
Learning how the system and your preferred broker operate is crucial if you are new to binary options trading. Expecting to make a lot of money in your first few weeks and days of trading binary options is unrealistic.
Ask Quotex
Quotex has a useful educational component on its website for your convenience. You can find all the information you need about the firm and its web trading platform in the FAQ. Additionally, you may view my films on the binaryoptions.com YouTube channel. I’m trading in real time while demonstrating the most crucial information for binary options traders.
Countries: Where can I buy Quotex?
Quotex welcomes traders from all nations. There aren’t any limitations. There are limitations on the payment methods. You might not be able to use the platform to deposit or withdraw real money, but you can use the free demo account without a doubt.
On the Quotex website, I also discovered the following statement: “The website services are not available for persons under the age of 18 in a number of countries, including the USA, Canada, Hong Kong, EEA countries, and Russia.”
France, Spain, Indonesia, Brazil, and India are all well-liked nations. Here is a list of all the countries in Quotex.
Review and testing of Quotex have revealed that it is not a fraud.
Overall, Quotex is a trustworthy broker for Binary Options trading. It is not a money-stealing scam. I used it multiple times to withdraw my profit, and online, this platform has only received great evaluations. Quotex is a great way to make profitable market wagers with little risk.
As you can see from my review, the platform for online trading functions very well and is easy to use. Before making a deposit, I advise using the demo account first. Additionally, there is a very low minimum deposit requirement, and you may start trading with just $1. Quotex enables you to benefit quickly from the market.
Quotex.io currently leads the market in terms of other Binary Options Brokers. There are no limitations or restrictions on your trade. Investments have a very high return (yield), and withdrawals are processed quickly. After reviewing this broker on Quotex, I can recommend them! Read reviews from other traders to learn more.
Quotex’s drawbacks include:
• No phone assistance
Benefits of Quotex:
• $10,000 in free demo credit
• A $10 minimum deposit is required.
• $1 as the minimum and $1,000 as the maximum trade amount
• High return of 95% or more
• Simple user interface
• A vast array of trading options
• Quick execution of trades
• Instant payments
• Secure and quick withdrawals
• Bonus money
• Accessible in numerous nations and languages
Quotex: Is it a scam?
Quotex is a recent industry representative. Despite the year 2019 being listed on the website, the business didn’t actually acquire a certificate until the end of 2020. Reviews of the market leader are positive; they highlight the smooth execution of transactions, the decent customer service, and the absence of payment issues. The user agreement, however, cannot win over a trader’s devotion. Numerous terms in it bind the clients by hand and foot.
Therefore, the broker has the power to simply reject any application without providing a justification. Additionally, if it determines that the trader acted improperly, it may even block the account without paying out the money that is in it. There are many requirements for claims involving transactions, which must be reported within 5 days of the incident. All of this can sound very difficult to someone who is unfamiliar with the legalese. Not to mention that disputes are settled in accordance with Seychelles legislation. We are unable to state unequivocally that qxbroker.com is a fraud. However, we still advise you to investigate the site further and begin using it sparingly.
Conclusion
Digital options trading is available on Quotex. Which for the trader means the opportunity with a higher chance of turning a profit. Understanding the chart’s trajectory is more important than knowing where it will end up. Only a $10 deposit is required to start. There is a training account that enables you to become more proficient with the platform without using your own money. Despite the broker’s new entry into the market, there are already a lot of favorable reviews. including – on the global websites with a high trust rating.
However, the service provider’s use of legal documents cannot be characterized as loyal. By imposing such severe limits, the corporation gives itself protection so that it can always come up with a reason to discontinue doing business with the trader and take his money. And this is a significant drawback. The CSRFM’s conformity certificate lacks credibility as well because the regulator does not set high standards for applicants and there are no instances in which it has defended customers’ rights rather than those of service providers.