Quotex Review 2024

Founded and certified in 2020, Quotex is a relatively new broker and a brand name operated by Maxbit LLC from St. Vincent and Grenadines. While this platform gives you the chance to make large, fast profits, you must proceed cautiously, since the trading risk may also be significant.

Quotex Overview

Quotex is a binary options broker doing business in over 100 markets. It’s an offshore company that accepts clients from many different backgrounds. Trading with Quotex comes with a high earning potential if you can predict market fluctuations. 

Many people are understandably wary of new brokers, but those traders who have taken their chances with Quotex seem quite positive. And they put them on par with brokers who have been around for a while.

With Quotex, you can earn up to 95% by correctly trading on the markets. For example, if you stake $100 on the price of a currency pair with a 95% payout rate to go up after one minute, you could get a payout of $195 if that’s correct. As you’d expect, you can access the platform via desktop or mobile devices, either through a browser or through dedicated apps for iOS and Android.

Note that Quotex currently isn't a regulated binary option broker, but it features only regulated and secure payment methods for deposit placements and withdrawals. 

Always proceed with caution, given that frauds and scams are fairly common in binary options trading. However, you aren't likely to become a victim of identity theft, software manipulation, or any other binary options fraud when investing through Quotex.

Markets and Assets

Compared to more established online brokers, Quotex still has a relatively limited selection of markets on offer. Still, you can trade in some popular assets via this trading platform, including:

• Indices
• Currencies
• Commodities 
• Cryptocurrencies

So, you can invest in Bitcoin, Ethereum, Litecoin, gold and other precious metals, energies, and many other goods besides money. 

Logging In

Signing up for an account is a quick procedure that differs slightly depending on whether you register on a computer or a mobile app. However, logging in is quite simple, and it goes like this:

1. Go to the Log in option in the upper-right corner of your trading account.
2. Enter your credentials.
3. Once your login is confirmed, you can start trading.

Your First Trade

Once you’ve logged in, do the following:

1. Select the asset you wish to trade with. 
2. Choose an expiration time ranging from one minute to four hours. If you prefer, you can specify the time down to a second.
3. Input the amount you’re willing to risk.
4. Choose between the down and up options depending on whether you think the price will drop or rise.

Note that you can use indicators for technical analysis.

If you’d like to test your trading skills before starting trading for real, you can open a demo account for free without having to provide any personal data.

What Is a Demo Account Good For?

A Quotex demo account is a helpful tool for both beginners and seasoned veterans because it allows you to: 

• Adapt to the trading platform.
• Acquire the knowledge you need to make good predictions.
• Improve your skills by testing out different trading strategies.

You'll feel like you're trading as your virtual account balance fluctuates from its starting point of $10,000, which you can restore whenever you want. 

What Are Trading Conditions?

Trading through Quotex promises high earnings if you can predict volatile market movements correctly. In that regard, this binary option platform offers attractive bonuses. So, let's see what general trading conditions are:

• The minimum deposit amount is $10.
• The lowest trade amount is $1.
• The highest trade amount is $1.000.
• The yield is up to 95%.

Tiered deposit bonuses are outlined in the table below:

Quotex Payment Methods

There are several payment methods available:

• Credit cards
• Online banking
• Cryptocurrencies
• eWallets

Minimum Withdrawal Amounts

The smallest amount you can withdraw is $10. For cryptocurrencies, however, this amount starts at the equivalent of $50 and can get even higher, for example in the case of Bitcoin. 

Quotex Customer Support

Customer support is available in the Contact section or via a live chat with the agent. Alternatively, you can ask for help regarding your account by emailing the broker at [email protected]. 

Quotex Advantages and Downsides

Quotex comes with various benefits and a few drawbacks, although those shouldn't be deal-breakers for traders using online platforms. That's because the many valuable features and prospective gains greatly exceed the potential inconvenience the downsides might cause.

Strengths

• Minimum deposits of $10
• Minimum trade amount of $1
• Potential gain of up to 95% per successful trade
• A demo account with unlimited use 
• Attractive deposit bonuses ranging from 20% to 35%
• Absence of withdrawal fees
• Fast withdrawal methods
• A highly functional platform for trades with indicators for technical analysis
• Several widely used payment methods, including cryptocurrencies, credit cards, and online banking

Weaknesses

• The broker doesn't offer leveraged investing, which can limit market access to newbies

Quotex Customer Reviews

Quotex has high customer scores across multiple websites, for example, the company currently holds a 4.8/5 rating on TrustPilot and a 4.7/5 rating on Sitejabber, with many people like the one below recommending it for beginners and sometimes pointing out issues with slower customer support or withdrawal times.

As you can see from the information in the table, the Quotex minimum deposit is way lower than other brokers’ save IQ Option. Also, its maximum returns are similar to its competitors’, except for Pocket Option’s. The minimum trade size is the same as every platform except Binarycent.

While IQ Option offers similar features as Quotex, you should note that IQ Option has shorter withdrawal times (up to three business days as opposed to Quotex's five).

Summary

As we’ve seen, Quotex is a new broker with a simple trading platform that has already won the hearts of many traders. And unlike many other companies offering trading services, it has one of the lowest minimum deposit limits. Moreover, the bonus policy is attractive, ranging up to 35% depending on the deposited amount. 

Furthermore, the company’s live chat customer support is efficient and available 24/7. One of the few disadvantages of this broker is that it doesn't have phone support. Finally, trade amounts ranging from $1 to $1.000 allow you to trade even if you don't have much money.