Quotex broker review and test – How good is the new trading platform?
(5 / 5)
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 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.
- New online broker founded in 2020
- Offers cryptocurrency trading
- Offers Binary Options
- User-friendly trading platform
- Based in the Seychelles
(Risk Warning: Your capital can be at risk)
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:
- Select an asset. Each tool displays a return on investment of up to 98% if you win the trade.
- 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 9 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 and offers a more passive copy trading format.
Note: The broker does not offer MT4 or MT5 platforms.
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, 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
- Indices-15 major stock exchanges including FTSE 100 and Dow Jones.
- Commodities-Gold, silver, oil, and other popular sources of energy and metals.
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.
Regulation and safety: How safe is Quotex?
Quotex is licensed from 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, Awesomo 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 that 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)
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 $5
- 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-makes 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!
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.
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.
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 deposits and withdrawals.
Quotex currently does not offer leveraged investments. This can limit market entry for some beginners, but it can also reduce losses.
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)
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%+.
Convenient trading interface
The broker has created the most important-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.
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.
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.
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.
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 has 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 analysis. 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 a free account in minutes
- 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)
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 – Ist 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 five dollars. According to verified traders, you can withdraw cash without problems.
Deposits and withdrawal 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 including Bitcoin, Litecoin, Ethereum, Ripple, Zcash, and USD Tether.
Support and service
It is safe to say that our support team deserves special mention. All support staff supports their work. With 24/7 lightning-fast multilingual feedback and a heartfelt desire to help us, we are on our way to an alternative platform. They will do their best for your comfortable enjoyment. Unfortunately, the support and service are not at their best because a phone-support and live-chat are missing.
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
- No leverage was provided
- Limited deposit and withdrawal methods in some countries
(Risk Warning: Your capital can be at risk)
Frequently asked questions:
Quotex is regulated by the International Financial Markets Regulatory Center (IFMRRC). This currency authority allows traders to access compensation funds if the broker is unable to pay their income.
This broker has its own trading platform that provides a convenient operating experience. These include craft copying, signal services, indicators, and other useful tools.
Customers have access to a $10,000 demo account. This environment allows users to practice trading digital options and become familiar with the interface before investing real money.
Customers can start trading on Quotex with an investment of at least $10. Traders can deposit in multiple currencies depending on the criteria in which the account was opened.
Investors can request withdrawals to their online accounts for a minimum cost of $10 or $50 per bitcoin. The withdrawal period is 1-5 days, and the amount is returned through the deposit method.