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.
Because the company was only recently founded, there aren’t yet many Quotex reviews out there. But don’t worry - we’ve researched this broker and gathered all the info you need to help you decide whether to trade using this platform.
Withdrawal times between 1 and 5 days
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
- Deposit bonus of 35%
- Low minimum deposits
- Lack of withdrawal fees
- Several payment methods
- Free and unlimited demo account
- Online platform with a simple interface
- No mobile app
- Leverage not offered
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.
Quotex Review (Account, Deposits, Trade Amounts, etc.)
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.
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 the Quotex trading platform, including:
So, you can invest in Bitcoin, Ethereum, Litecoin, gold and other precious metals, energies, and many other goods besides money.
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:
- Go to the Log in option in the upper-right corner of your trading account.
- Enter your credentials.
- Once your Quotex login is confirmed, you can start trading.
Your First Trade
Once you’ve logged in, do the following:
- Select the asset you wish to trade with.
- Choose an expiration time ranging from one minute to four hours. If you prefer, you can specify the time down to a second.
- Input the amount you’re willing to risk.
- 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 Quotex 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:
|Tiered bonus||Amount deposited in USD|
If you wish to trade via the Quotex options trading platform, Quotex reviews show that there are several payment methods available:
- Credit cards
- Online banking
Minimum Withdrawal Amounts
The smallest amount you can withdraw from Quotex 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.
Customer support is available on the Quotex platform in the Contact section or via a live chat with the agent. Alternatively, you can ask for help regarding your Quotex 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. So, let's see what Quotex's pros and cons are:
- 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
- The broker doesn't offer leveraged investing, which can limit market access to newbies
- No mobile app is available, but you can access the platform via your smartphone
If you wish to refer to an online Quotex broker review, there are various websites you can consult. The binary options broker has received primarily positive reviews that rate its performance as excellent. Among other commendations, reviewers typically underline Quotex's:
- User-friendly interface
- Efficient customer support
- Excellent market analysis tools
- Seamless deposit and withdrawal service
In addition, many state that Quotex is the best trading platform they have used.
How Does Quotex Compare With Other Binary Options Brokers?
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).
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 Quotex 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 Quotex 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.
Is Quotex legit?
Quotex has been playing by the rules and hasn’t done anything that would put its legitimacy into question. The broker is entirely secure and releases funds quickly upon request.
Is Quotex regulated?
Quotex used to be regulated by the International Market Relations Regulation Center (IMRRC), but its license expired.
What is Quotex trading?
Quotex is a broker that allows traders to trade in digital options. The minimum deposit limit is $10, which is much lower than that of many other popular brokers, and Quotex trade amounts range from $1 to $1,000. Moreover, the earning potential is up to 95%, which is in line with many other online trading platforms.
Quotex offers trades in cryptocurrencies, indices, currencies, and various commodities, including metals and energies. And the minimum withdrawal amount is $10, except for crypto, which is $50. Finally, this broker currently has a limited selection of markets compared to others since it is relatively new in the business.
Quotex vs. Pocket Option
People using this binary trading platform rate Quotex highly, but Pocket Option has a much longer track record. What's common to both is the minimum trade amount of $1 and the option to use a demo account, which is handy for both newbies and experienced traders.
Furthermore, the minimum deposit of $10 arguably tips the balance in Quotex's favor, as opposed to Pocket Option's $50. On the other hand, the maximum potential gain with Pocket Option is higher: 218% to 95%. Customers are satisfied with both platforms according to online Pocket Option and Quotex reviews.