Quotex broker review and test – How good is the new trading platform?

Review:	Regulation:	Minimum deposit:	Assets:	YielD:
(4.8 / 5)	IFMRRC	$10	Forex, Commodities, Cryptocurrencies, Stocks	Maximum of 90%+

Quotex is a binary options broker founded in 2020 that provides market signals and simulates trading on a custom web platform. Our review explains how to start trading with Quotex, including the deposit and withdrawal process, customer support, and welcome bonuses.

Quotex is a trademark of Awesomo Ltd, a Seychelles-based company regulated by the International Financial Markets Regulatory Center (IFMRRC). The company was certified as a licensed broker in November 2020. Brokerage firms are working to combine powerful tools with simple digital options products.

Payment options for residents of the United States, Canada, Hong Kong, or Germany are limited to cryptocurrency, but sellers can open accounts in these regions. Is it worth investing your money there? – Find out in our Quotex review.

What is behind Quotex.io? – Company overview:

Quotex is a trademark of Awesomo Ltd, a Seychelles-based company regulated by the International Financial Markets Regulatory Center (IFMRRC). The company was certified as a licensed broker in November 2020. Brokerage firms are working to combine powerful tools with simple digital options products. Payment options for residents of the United States, Canada, Hong Kong, or Germany are limited to cryptocurrency, but sellers can open accounts in these regions.

See our full video review:

Facts about the broker

⭐ Rating:	5 / 5
🏛 Founded:	2020
💻 Trading platforms:	Quotex webtrader
💰 Minimum deposit:	$10
💱 Account currencies:	USD, EUR
💸 Withdrawal limit:	No
📉 Minimum trade amount:	$1
⌨️ Demo account:	Yes
🕌 Islamic account:	No
🎁 Bonus:	Yes
📊 Assets:	Currencies, cryptocurrencies, indices, commodities
💳 Payment methods:	Credit- debit card, Neteller, Skrill, PerfectMoney, various cryptocurrencies
🧮 Fees:	No
📞 Support:	24 /7 via live chat or contact form
🌎 Languages:	20 languages

(Risk Warning: Your capital can be at risk)

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What are the pros and cons of Quotex?

Quotex is another binary options broker, particularly attractive due to the low entry barriers into the trading world. The minimum deposit is only $10, and the structure and design of the platform are so clean that you can start trading in no time. Like every platform, Quotex has some pros and cons, and we will take a look at all of them in this section.

Pros of Quotex	Cons of Quotex
✔ Highest average profitability of binary options for currency pairs	✘  Limited deposit and withdrawal methods in some countries
✔ No commissions on deposits and withdrawals	✘ Doesn’t accept traders from the United States, as well as large parts of Europe
✔ Possibility to trade 24 / 7
✔ Copytrading function available
✔ Minimum trading size is only one dollar
✔ Positive feedback, mainly from trading newbies
✔ The company has an excellent reputation in the industry

How user-friendly and intuitive is Quotex?

Is the trading platform of Quotex easy to understand? How easy is it to reach customer support, and does the platform meet the required security standards? These are questions you should ask yourself before you choose a broker. To give you some guidance, here is a rating of the Quotex usability.

Criteria	Rating
General Website Design and Setup	★★★★★ Very clean and professionally structured website with the highest security standards
Sign-up Process	★★★★★ Sign-up for a demo account requires only basic information, and the approval for a live account is quite fast
Usability of trading area	★★★★★ The desktop trading platform is very easy to understand, with a video tutorial when you first log in.
Usability of mobile app	★★★ The app is only available for Android devices and has some flaws, according to some users

What is Quotex? – Introduction to the platform

After registering for an account, customers can access the web platform and start trading. Passing through the login portal, the user must:

1. Select an asset. Each tool displays a return on investment of up to 98% if you win the trade.
2. Select Start Time-The time you can set in 1 second is from 1 minute to 4 hours.

Enter the amount of your investment – choose the amount of capital you want to invest in your market position. Choose “Up” or “Down,” depending on the direction the asset price will go to the end.

When you select an asset, the price list is displayed in real-time, and traders can view data on multiple charts on a schedule from 5 seconds to 1 day. The Quotex platform has nine indicators that you can customize to your liking. There are also 15 drawing tools to help with predictions.

Customers can use copywriting strategies and replicate successful sellers with one click. The platform’s interface also shows a list of the top 20 players that day. The terminal also contains market signals, analyst recommendations for assets, price directions, and lengths consumers can choose from and offers a more passive copy trading format.

Note: The broker does not offer MT4 or MT5 platforms.

Innovative interface:

The Quotex.io team knows that the first judge is how good you are and then how smart you are. This is why the trading platform is user-friendly and suitable for professionals. The broker has conveniently organized the most important and efficient trading elements and practical functions. As a result, they give their traders the best role in financial management. You can also customize it to your trading method.

• Quotex offers over 410 trading options for digital options.
• Currency-27 currency pairs, from big to exotic.
• Crypto-Coins from Litecoin, Bitcoin, Ripple, and Ethereum
• Commodities-Gold, silver, oil, and other popular sources of energy and metals.
• Indices-15 major stock exchanges, including FTSE 100 and Dow Jones.

In our review, we were very pleased to see cryptocurrency being offered as an asset in digital options, although the market is still narrow compared to traditional online brokers.

(Risk Warning: Your capital can be at risk)

Regulation and safety: How safe is Quotex?

Quotex is licensed by the Center for International Financial Market Relations Regulation (IFMRRC). The agency’s regulations include compensation fund members who reimburse customers for their license violations or failure to pay.

According to the information on the website, Awesome Limited, the company that owns and operates the website, is registered in Seychelles and is regulated by the Center for International Financial Market Relations Regulation (IFMRRC).

However, this doesn’t seem to be the case as the company is not in the register of the Seychelles Monetary Authority (FSA), which regulates the activities of currency brokers. Second, IFMRRC is a self-issuing body rather than a legal, fiscal oversight body, so it has no power to regulate the broker’s work. We do not recommend dealing with Seychelles brokers as there are insufficient measures in the FSA regulations to protect customer funds.

Brokers in this jurisdiction are required to have at least $50,000 in capital, which can hinder scammers because they don’t invest too much money to appear legitimate. However, the broker can use this capital originally paid for day-to-day operations, and the client’s money is not separated from the broker.

These differences between client funds and broker funds are found in some well-established jurisdictions such as the United States, the European Union, and the United Kingdom. Also other measures include negative balance sheet protection, regular transaction reporting, and regular internal and external audits. The amount required in the form of initial capital is also much higher. In the US, it is 20 million dollars, and in the EU and UK, it is 730,000 euros. If you choose to do business with an EU broker or a UK account, you can rest assured knowing that there are reward funds and systems available to get your broker compensated in case of bankruptcy.

UK brokers regulated by FCA and participating in local compensation services for financial services can offer up to £85,000 per person to reimburse customers in case of bankruptcy. EU brokers are required to participate and contribute to local funds for investor compensation, paying up to 20,000 euros per person.

As you can see, these are great trading terms as brokers in offshore Seychelles are unparalleled.

Note:

• Quotex is not regulated by an official financial authority.

(Risk Warning: Your capital can be at risk)

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Quotex trading conditions for investors and traders

Products available at Quotex include:

• 100% deposit bonus
• Free demo account without digital (binary option) deposit
• Minimum deposit $10
• Minimum transaction size $1
• Up to 95% profit/transaction every 60 seconds
• The most accurate and innovative trading signals with 87% accuracy allow you to create your own effective strategy
• Great Opportunity for beginners; with just one click, you can copy the business of the most successful traders and follow professional examples

Quotex has been committed to creating a comfortable environment for users of all platforms and has implemented the best financial management features. Lightning-fast quote update rate and interface make the platform comfortable.

It is an innovative online investment platform! You can achieve your financial goals with this innovative digital trading platform! Quotex-Binary Options (digital) online investment platform can start with a very low minimum deposit of $10, so it can be used by all clients, including beginners!

Trading account types:

Quotex only offers one trading account. Consumers have full access to digital optional products, customer support, and promotions. Accounts are available in US dollars, euros, rubles, Ukrainian hryvnia, and Brazilian reals. Using an account is quick and easy to get started, but in our review, we want to check the account level so that experienced traders can use the add-on in exchange for high volume.

Payment methods:

Traders can start with a deposit of at least $10. Customers can deposit money using a bank card, cryptocurrency, or electronic payment system, and the company does not charge any fees for deposits or withdrawals.

The minimum withdrawal amount is also $10, but for Bitcoin, it is $50. Usually, no further verification is required, but companies can ask for large transactions. The withdrawal period is 1 to 5 days. However, the company will attempt to make a payment on the day the withdrawal request is submitted.

Fee structures:

The percentage of revenue associated with each product is determined by Quotex and depends on factors such as the liquidity of the asset and the delivery of trade and economic events. For example, the EUR/USD exchange rate is currently offered at 80%, so a customer who invests $1,000 and accurately predicts the price movement over the selected period will receive $1,800 in this transaction. We were happy to hear from the review that Quotex also does not charge fees for deposits and withdrawals.

Leverage offering:

Quotex currently does not offer leveraged investments. This can limit market entry for some beginners, but it can also reduce losses.

Mobile application

The broker currently only offers a mobile app for Android devices. However, their web platform can be accessed from any browser, including mobile phones. The iOS mobile app is under development. Customers can track the market and execute trades with just a few cranes. Additionally, Quotex will introduce more mobile apps in the future.

(Risk Warning: Your capital can be at risk)

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Test of the Quotex trading platform

The trading software Quotex is a user-friendly, relatively inexpensive platform but with limited functionality. Trading instruments are foreign exchange, cryptocurrency, commodities, and indices. According to the information in the company interface, the trader has little control over the transaction. The broker selects the interest asset, sets the trading volume and closing time, and makes timed forecasts.

See the screenshot of the trading platform: 

Traders can select their trading product by clicking on the top left corner with the EUR/USD sign. As you can see, the platform does not provide a sell/sell price to determine the spread. The leverage effect is also unknown. The seller has two options. Go up and down and sell now or later.

With Binary Options you are investing in rising or falling prices. The price has to be above or below your strike price after the expiration time. No matter how much the price is moving. It is important that the price is below or above the strike price in order to get a high profit of up to 90%+.

(Risk Warning: Your capital can be at risk)

Convenient trading interface

The broker has created the most important-the, the simplest, and most convenient interface that does not distract attention from trade.

Integrated signal provider

Think about your strategy. The most accurate and innovative signals with 87% accuracy will help you create effective strategies.

Trade indicators

The site has a compilation of have compiled the most useful trading indicators. Use it to top up your account balance.

Copy-trading of experienced traders

The best way to grow is to learn from the best! Use the best trading strategies on the platform with one click.

Ideal speed

The platform leverages the latest technology and delivers incredible speed.

Training with major traders

Great opportunity for beginners-with just one click, you can copy the business of the most successful traders and follow professional examples.

Quotex Bonus

The broker offers bonus payments to clients. Depending on the promo code, the bonus can be 10% -80% of the deposit amount. You can get an 80% welcome bonus for your first deposit of $100.

This is a generous incentive and a great way to increase your original trading capital. The broker can also offer stocks and new offers to experienced traders. Visit the Quotex website for the latest information. And always check the bonus terms before trading.

Bonus funds are fully calculated and can be withdrawn into real funds. To do this, you need to make the trading volume 100 times the bonus amount. If money is withdrawn before the bonus is processed, it will be canceled and debited from your account. Therefore, it is best to get a bonus if possible. There is no loss. Additionally, the broker does not charge any transaction fees. Fees can only come from the payment system.

What account types are available?

Unlike other binary trading brokers, Quoted doesn’t offer multiple account levels, depending on the amount of your deposit. There is only the demo account and the live account. Personally, we like this system much better because you will have access to all markets and assets with a very low deposit.

(Risk Warning: Your capital can be at risk)

How to trade with Quotex? – Trading tutorial

Quotext’s broker offers a demo account. You don’t need to register to trade with the demo account, and you can try out the platform by yourself. Just click on the “Open Demo Account” tab and move to the Quotex trading platform. The Quotex trading platform is user-friendly and fast. Trades open almost instantly, and you don’t experience any freezes or delays. You can re-charge the 10,000 USD demo account. Both live accounts give users a similar experience, there is no difference.

The company offers Binary Options for 49 trading instruments. This includes four commodity assets and four cryptocurrency assets which have a low return of less than 30%. 13 Stocks also have a very low payout ratio of approximately 45% when tradable. In most cases, stocks are offered as over-the-counter tradable instruments with a yield of 93%. Also, pair trading and currency trading are possible at night. Nonetheless, it is better to avoid OTC assets.

So, Quotex trading has Binary Options for more than 28 currency pairs with a mean return of seventy-eight to eighty percent, up to eighty-seven percent. The minimum trade for Binary Options is $1. Binary Options have an expiration time of one minute to four hours in one-second increases.

The trading platform provides 14 different chart periods and a sufficient number of trading indicators up to twenty-four technical analyses. The platform offers free signals for trading binary options, however, but it is best not to use it. The source of these signals is unknown. The trading platform works quickly, and it’s advisable not to utilize it.

How to open a trading account on Quotex

Start trading by following the three steps below:

1. Sign up

Open an account with Quotex

Open a free account in minutes

2. Practice

• Improve your skills with demo accounts and tutorials
• Make deposits and start trading
• 410+ instruments and a $5 minimum deposit for the best deal

(Risk Warning: Your capital can be at risk)

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Demo account trading – Quotex offers a free demo account

The broker is offering a $10,000 demo account to practice using the web platform and digital options products. Display account holders have access to a variety of assets, trading instruments, signals, and indicators. For customers who are new to digital alternatives, a trial account is a great way to see how a simple product works.

It takes practice to become an experienced and efficient binary options trader. And if you link all the features of the interface to your demo account, you have a great opportunity to improve. It’s still useful whether you’ve been shopping before or not. The demo account helps you study all the features of the platform, understand the basic principles of trading, practice buying digital options, test different methods and strategies, or evaluate your intuition.

The demo account is completely free and offers a virtual deposit to train. In case of a shortage, you can directly raise funds without restrictions. And if you think you are ready to start trading with a real account, the registration process is simple, and the minimum deposit amount is $10.

Deposit and withdrawal – Is it safe or not?

The mode of depositing and withdrawing funds is undoubtedly one of the most important things every broker is concerned about. The company does not charge any fees and offers a variety of trading methods. In general, it depends on the country of origin, but it can generally be divided into three groups: bank cards and electronic payment systems, and cryptocurrency. Account withdrawals are done in the same way as deposits based on the previously selected trading method.

It takes 1 to 5 days to withdraw money from Quotex, and ID may be required. Quotex broker’s minimum deposit and withdrawal amount on the platform is ten dollars. For certain currencies, such as Bitcoin, the minimum withdrawal amount is $50. According to verified traders, you can withdraw cash without problems.

Deposits and withdrawals of funds can be made through one of the several ways shown below:

• Visa / Master Card / Maestro Debit Card;
• Electronic payment like Advcash and Perfect Money;
• Crypto coins include Bitcoin, Litecoin, Ethereum, Ripple, Zcash, and USD Tether.

Is there negative balance protection?

Since Quotex is mainly offering their clients binary trading options with no leverage, the risk of a negative balance is naturally eliminated. So the answer is no, Quotex doesn’t offer negative balance protection but isn’t something you should consider as something negative in this case.

How does Quotex make money from you?

Quorex will make the majority of its revenue from the unsuccessful trades on its platform. If your prediction turns out to be wrong, you will lose 100% of your investment. The broker will use some of this money to pay the yield for the successful traders to keep a part of running the platform and for things like maintaining the platform security, paying support staff, implementing new indicators, and things of that nature.

(Risk Warning: Your capital can be at risk)

Support and service overview at Quotex

Existing Quotex customers can contact the support 24 / 7 via the customer portal. If you are not a registered client yet, your only option to contact the company is via the contact form on their website. The average response time via this method is 3-5 days, from our own experience. The customer support via live chat for registered customers is decent, but there is, unfortunately, no phone support available.

What are the best Quotex alternatives?

Here are our favorite Quotex alternatives, worth taking a closer look at.

Captital.com

Capital.com is one of the most reputable brokers with outstanding client satisfaction, thanks to their dedicated support team and e-learning hub for new traders, and easy-to-use trading platform. We have a full review on capital.com available on our site. Read here why capital.com is among the most reputable brokers in the world.

RoboForex

RoboForex has an impressive selection of more than 12,000 assets to trade from and is an exciting broker if this is an essential criterion for you. Additionally, the execution of orders is laser-fast, and clients benefit from the integrated negative balance protection. Learn more about the pros and cons of the broker in our detailed review.

XTB

The company was founded back in 2002 in Poland and quickly developed into one of the biggest brokers in the world. XTB is an excellent option for professional traders, thanks to it’s high leverage of up to 1:500 for professional traders.

Conclusion on our Quotex review: New broker with potential – It is not a scam

The Quotex.io platform offers a variety of trading assets, financial indicators and tools, and charting adjustments to show excellent results. Quick updates of quotes, team support, bonuses, and more. Summarizing all the benefits of an efficient and user-friendly environment for all users, Quotex.io has created a complete platform for the principles of enjoying the trading process.

Traders can enjoy the following benefits:

• Positive feedback, mainly from early traders
• User-friendly and fast trading platform without freezing and delay
• Minimum transaction size ($1), deposit ($5), and withdrawal ($5)
• Highest and highest average profitability of binary options for currency pairs
• Various chart periods (14) and trading indicators (24)
• Free unlimited demo account
• No commission on deposit and withdrawal
• 24/7 trading (weekend OTC)
• A maximum of eighty percent of bonuses with training opportunities
• Your own internet platform with a user-friendly interface.
• Low minimum deposit and no withdrawal fees
• Copy-trading function

Disadvantages:

• Limited deposit and withdrawal methods in some countries

(Risk Warning: Your capital can be at risk)

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FAQ – The most asked questions about Quotex :

(Risk Warning: Your capital can be at risk)

Last Updated on June 24, 2023 by Res Marty