Is Quotex safe or a scam?

Qoutex is a scam. Learn more about this scam website.

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 a legitimate platform? Quotex is a binary options trading platform established in 2020. It is not regulated by any financial institution, and users have reported several issues with the platform.

Is Quotex withdrawal safe?

Is Quotex withdrawal safe? Safety is critical when it comes to internet trading platforms, and Quotex takes this seriously. To protect user funds and personal information, the site has put in place comprehensive security procedures.

Is Quotex legal in Bangladesh?

No, trading with QUOTEX is legal in Bangladesh, traders should exercise caution.

Is Quotex banned in USA?

Quotex is available in most countries globally, save the USA, Canada, Indonesia, Hong Kong, EEA nations, and Russia. Some other countries may impose limits as well. Quotex is licensed and regulated by the IFMRRC through its parent firm, Awesomo Ltd., but not at the state level.

Is binary trading halal or haram?

A binary option is simply a betting activity in which a zero-sum game exists, with the winner profiting off the losses of others. From an Islamic standpoint, this transaction contains gambling (qoutex). Binary options and Qoutex are not Shariah-compliant and so considered haram.

Is Quotex broker licensed?

Quotex is an unregulated forex broker registered in Saint Vincent and the Grenadines. They provide a multi-asset trading platform that includes securities, currencies, raw materials, and indices.

Who owns Quotex?

Awesomo Ltd
The Quotex trading platform is owned and operated by Awesomo Ltd, which is registered in St. Vincent and the Grenadines.

Is binary trading legal in BD?

In addition, the Bangladesh Securities and Exchange Commission (BSEC) regulates and protects investors and brokerages in the securities markets. None of these agencies have issued a law declaring binary option trading illegal.

Does Quotex block accounts?

Quotex does block accounts. However, this does not happen at random or without purpose. Quotex enforces strong standards to safeguard the safety and security of its users and the platform itself.

Is trading on Quotex is halal?

In conclusion, Quotex is haram under Islamic law if used in a haram manner. This means that traders must avoid speculation and gambling.

Is Usdt legal in Bangladesh?

According to the Bangladesh Bank, “anybody caught using the virtual currency could be jailed under the country’s strict anti-money laundering laws” in September 2014. In 2021, the Bangladesh Bank stated that cryptocurrency transactions or trading should be considered crimes if they include money laundering or terrorist financing.

Can I Deposit with bKash?

Yes, you can deposit money to Qoutex with bKash/Nagad and other MFS. But this is a scam. You cant deposit with bkash in Qoutex. they will block your transaction and steal your money. Do not invest. Therefore, Qoutex also offers paid review. Here you can see:

Reviews about Qoutex

  1. 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.
  2. 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.
  3. 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.
 And so many other reviews. Read: How to Trade Forex on News Releases
Broker Status Unregulated Offshore Broker
Operating Status Active Online Trading Sham
Known Websites – inactive<br> – active<br> – 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.


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