Quotex is not a reliable broker because it is not regulated by a financial authority with stringent requirements. We propose that you only open an account with brokers supervised by a top-tier, strict regulation. All of the 100+ brokers reviewed on the BrokerChooser website meet this requirement.
What is Qoutex
Quotex Trading App: This is a mobile and web platform that allows users to trade binary options, forex, and cryptocurrencies. It is owned and operated by Quotex Services Ltd, which is registered in Seychelles. The platform is known for its user-friendly interface, minimum deposit of $10, and potential returns of up to 95%. However, it is important to note that Quotex is not regulated by any major financial authority, which raises concerns about its safety and legitimacy.
Why we don’t suggest Quotex.
As a brokerage safety specialist, I meet many people who have lost money to dishonest brokers and scammers. Here are my main conclusions on Quotex’s safety profile:
- Avoid Quotex because it is not regulated by a high-level regulator.
- Choose from the 100+ top-tier-regulated brokers listed in our unique Find My Broker service.
Is Quotex trading real or fake?
Is Quotex withdrawal safe?
Is Quotex legal in Bangladesh?
Is Quotex banned in USA?
Is binary trading halal or haram?
Is Quotex broker licensed?
Who owns Quotex?
Is binary trading legal in BD?
Does Quotex block accounts?
Is trading on Quotex is halal?
Is Usdt legal in Bangladesh?
Can I Deposit with bKash?
Reviews about Qoutex
- Quotex isn’t regulated. Fraud broker. Unable to withdraw!
A girl added my WeChat and then I was invited to a group chat where teachers analyzed the market and gave recommendations. I followed their advice some times and profited a little. Later, the teacher said the stock market was in a bearish mood and asked us to invest in Quotex where we could profit stably. And he promised that we could earn over 50% per month if we followed his instructions strictly. So many people said yes in the group chat and opened accounts. So I transferred all my funds to this broker, 920,000 in total. But I lost money here. The teacher just gave adverse recommendations. I hope this exposure can help u guys. Read this: detail here. - My withdrawal did not arrive.
I have been waiting for my quotex withdrawal for more than 15 days and need a solution. Support does not respond. I want to know if it’s a fraud. - Deposits do not credit the account.
I once made a deposit using OVO Indonesia, and my amount was deducted from OVO, and the transaction was reported successful. However, the deposit has never been received in my Quotex account as of yet. I contacted Help but never received a response. These monies have left my OVO balance and have never been credited to my Quotex account; the transaction failure message on Quotex does not necessarily refund my OVO balance. Until now, the deposit funds have disappeared.
| Broker Status | Unregulated Offshore Broker |
|---|---|
| Operating Status | Active Online Trading Sham |
| Known Websites | qotex.com – inactive<br> quotex.io – active<br> qxbroker.com – active |
| Blacklisted as a Scam by | CNMV, CMVM, CONSOB, FINACOM |
| Owner | Maxbit LLC |
| Headquarters Country | St. Vincent and Grenadines |
| Foundation Year | 2021-05-19 |
| Online Trading Platforms | Web trader |
| Mobile Trading | Proprietary app |
| Minimum Deposit | $10 |
| Deposit Bonus | Not available |
| CFD Trading Option | Not available |
| Crypto Asset Trading | Not available |
| Available Trading Instruments | Currencies, Shares, Metals, Indices |
| Maximum Leverage | N/A |
| Islamic Account | No |
| Free Demo Account | Available |
| Accepts US clients | No |
| Global Fraud Protection Experts’ Verdict | This trading server is dangerous – avoid it at all costs! |
Bottom line
Before you open an account with any broker, you should verify the following information:
- Always double-check whether the platform is regulated in major developed countries (US, UK, and EU).
- Check reputable regulators’ websites (FCA, SEC, etc.) to see if the platform is registered or listed as a warning.
- If you sense a “salesy” approach, dig deeper.
- Do not believe every review you read online (check many sources), especially if no negative points are highlighted.
Other FAQs
What are binary options
Binary options are a complicated financial product with only two possible outcomes: winning or losing. Binary options feature an expiration date (chosen by you), a striking price, and a specific payout. Let us provide an example to better understand: For example, suppose it is Monday morning and you anticipate stock X will be trading above $85 by 2:30 p.m. A binary option allows you to gamble that the stock will end above $85. If it does, you’ll win. If not, you lose your bet. It more closely resembles gambling than investment. Binary options, due to its all-or-nothing payment structure, are sometimes known as “all-or-nothing options” or “fixed-return options.”
Please keep in mind that binary options differ from traditional options in that they allow you to modify your position (trading the option before it expires). In contrast, a binary option takes a “all or nothing” approach.
How does Quotex make its money?
Quotex supposedly makes money by offering a lower payout ratio when someone profits. Assume you wager $50 that stock Y will rise above $20 in the following minute. Another individual feels it will fall below $20, which is contrary to your opinion. Quotex may, for example, pay the winner $40. So, one of the investors loses $50, while the other wins $90 (the initial $50 plus $40), so Quotex keeps the $10.
