Quotex Review 2022: Is It A Scam Or Legit

Quotex Review 2024: Is It A Scam Or Legit? Unbiased Review

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You may have heard of saying: Don’t try to time the market. But binary options trading does the same. And the successful option trading starts with a reliable binary broker. Quotex is one such exception that lets you trade the financial market with as little as $10. Let’s move forward with this detailed Quotex review to find out other stand out features and drawbacks of the platform. 

This online broker has shown sustained growth since its inception and exceeded 100 thousand active clients with more than 250 million transactions. These numbers show how trustworthy this broker is.

The features and the services of the platform seem all good at a glance, but the question remains whether it’s a good fit for you or not? To find it out, read this in-depth Quotex review 2024. It will help understand the broker more precisely, including its fees, deposits & withdrawals, customer support and details related to Quotex login. 

Quotex Review 2024: Quick Overview

Official Website www.quotex.io
Establishment Year 2020
Trading Platforms Web-based and Quotex Trading App
Available Account Types Quotex Demo Account and Real Account
Forex Currency USD, EUR, GBP, BRL, IDR, MYR, INR, KZT, RUB, THB, UAH, VND
Minimum Deposit $10
Minimum Order $1
Tradable Assets Currency pairs, Commodities, Cryptocurrencies, Stock, Indices
Affiliate Programs and Bonuses Yes

What Is Quotex?

Quotex is a new digital binary options broker established in 2020. The broker’s platform operated under the brand name Maxbit LLC, a company incorporated in St. Vincent and Grenadines

The company’s headquarters is situated on First Floor, First St Vincent Bank LTD Building, James Street, Kingstown, St. Vincent and Grenadines.

Typically, it is an offshore broker that accepts clients from several countries across the globe. The broker offer trading in indices, binary options, tokens – popular digital currency quotes, currency pairs, and raw materials (metals, oil, gas).

Is Quotex A Scam?

No, Quotex is not a scam in terms of complying with the regulatory authority. However, offshore regulations of the broker raises red flags among new traders.

Despite being an offshore broker, Quotex holds a license from the International Financial Market Relations Regulation Center (IFMRRC)

Furthermore, the broker is also a member of Investors Compensation Funds (ICF). The platform has good reviews from existing customers, mostly related to ease in Quotex trading login.

Henceforth, it is clear that the broker is legit and there’s not any single Quotex scam related complaint on the internet.

Quotex Review 2024: Pros and Cons

Before trading with a brokerage platform, it is crucial to know its advantages and limitations to make a more informed decision. So take a closer look at the pros and cons with this detailed Quotex Review 2024: 

Pros Cons
Low Minimum Deposit Requirements Leverage Trading Not Available
Zero Commission and Trading Fees No Educational Content
Simplified Trading Platforms Offshore Broker
Generous Bonuses and Offers  
Professional Customer Support  
Copy Trading Available  
Unlimited Trading Signals  
Hassle-free Quotex Login Process  
Easy Quotex App Download Process  
Quotex Demo Account for Practising  

Quotex Review 2024: Available Trading Markets & Assets: 

When a trader decides to trade with a QX broker, they can have over 400+ assets to choose from 4 major financial markets, including Forex, Cryptocurrencies, Raw materials and Indices. 

Available Trading Markets Assets

Each of these markets offers a large number of assets to trade in. Here’s a list of major assets available on the platform:

  • Forex Trading: The platform allows you to trade in 40+ currency pairs, including USD/EUR, EUR/GBP and USD/JPY. 
  • Cryptocurrencies: The major crypto coins available include Bitcoin, Litecoin, Ethereum, and Dogecoin. 
  • Indices: Available indexes include Dow Jones, SP500 and other leading exchanges.
  • Raw Material: Trade commodities and precious metals such as Gold, Silver and Bronze. 

Quotex Review 2024: Trading Platforms & User-Interface

At first glance, the broker’s website seems to be well-structured, user-friendly, offering responsive user interface, making the Quatex login and trading process more convenient. 

The available platforms include web-based and Quatex Trading App. Take a closer look at the features of each platform through this detailed Quotex Review 2024.

Web-based Platform

The Quotex web trading platform is clean and easily understood. Users will not need to install or download any additional software. 

Once signed up through the Quotex login portals, users can immediately start trading in the financial market. Here are some of the features:

Quotex App

The Quotex trading app is designed especially for traders who enjoy trading on the go. The platform’s user-friendly interface makes it easy for traders to trade the market more efficiently. 

Additionally, the Quotex app offers a wide range of advanced trading tools and a free Quotex demo account with $10,000 virtual currencies for practising

Top Features:

  • Unlimited Market Signals
  • Available for Android Devices
  • Live Price Chart
  • Multiple Timeframes
  • Delivers Incredible Speed
  • Advanced Technical Indicators
  • Copy Trading Available

How Many Account Types Does Quotex Offer? 

As per our analysis of Quotex Review, the broker’s account offering seems average as it offer only two types of accounts for trading: Quotex Demo and Real Account. Each account type has its own features. So, to simplify things, take a quick overview of each account type with our detailed Quotex Review. 

Real Account:

The real or live trading accounts offered by the brokerage platform is designed keeping in mind both beginners and professional traders. 

Furthermore, the minimum deposit for opening an account on the platform is $10, which is comparatively lower than other brokerage platforms.

Top Features: 

  • Zero Fees on Trading
  • No Commission
  • Low Deposit Requirement
  • Technical support
  • Most useful trading indicators
  • 24/7 Customer Support

Quotex Demo Account:

Quotex broker offers free demo trading accounts with a virtual fund of $10,000 for practising and testifying new trading strategies.

Quotex Demo Account

The account allows full access to all trading features except news and trading tips. 

Top Features: 

  • Virtual Funds for Practising
  • Access to All Trading Features
  • Risk-free Trading
  • No Need to Complete Quotex Log-in Process

How To Open An Account With Quotex?

How to Open An Account with Quotex

The account opening process is quite hassle-free and only takes a few minutes. To create an account, follow these simple steps:

  • First, visit the official Quotex website and click on the “Sign Up” icon. 
  • Now, enter the requested details, such as your name and email address & create a strong password. 
  • Following that, select your preferred account currency. 
  • Read the user agreement and tick the check box. 
  • Now, click on the “Confirm Account Creation” Icon. You have successfully created the account. Complete the verification process. After that, you can start trading by entering your Quotex log-in details. 

Quotex Review 2024: Fees & Commission

In this section of our detailed Quotex Review, we will discuss the fee structure and the commission charged by the broker. 

After analysing this binary broker, we found the platform doesn’t charge any fee or commission on trading, which is good news for traders. Furthermore, the platform also doesn’t charge a currency conversion fee & deposit and withdrawal fees.

Deposit and Withdrawal Process: 

The QX broker offers different payment methods for deposits and withdrawals. The deposit requirement for a Quotex Trade account is $10; however, it raises to $50 for Bitcoins. There are no deposit fees. Additionally, there is no fee for withdrawing money. However, different payment systems may charge their fees.

Here’s a list of available payment methods: 

  • Credit card
  • Mastercard
  • Coinbase
  • Bitcoin Cash
  • Ripple
  • Dash
  • Piastrix
  • Perfect Money
  • E-wallets
  • Other

Note: Users can withdraw funds through these same payment methods.

How To Deposit Funds In Quotex Trade Account?

In order to make deposits on the platform, one must follow these simple steps: 

  • Firstly, click the ‘Deposit’ button in the transaction execution window. 
  • Choose your preferred payment method and currency. 
  • Enter the amount you want to deposit in your account. 

(Note: The payment method restrictions may affect the US, Canada, Hong Kong and Germany traders; however, they can still deposit using cryptocurrency).

How To Withdraw Money From Quotex?

In order to withdraw money from the platform, one must follow these simple steps:

  • On your dashboard, click on ‘Withdrawal’ button.
  • Select a payment method. In case of bitcoin, enter the bitcoin address.
  • Enter the OTP that will be sent to you over an email. Then, click the “Confirm” button.
  • To track your Withdrawal requests, click “Transaction.”

Top 3 Quotex Alternatives

While scrolling down the internet, we found two prominent brokers that seems to be the best alternatives to Quotex. These platforms are highly recommended by the experts. So let’s take a look at their quick comparison.

Quotex vs InvestBy

  Quotex InvestBy
Trading Platforms Proprietary Web platform and Quotex App MT4 and Mobile App
Minimum Deposit $10 $250
Tradable Assets Forex, Indices, Cryptocurrencies, Commodities Forex, Indices, Cryptocurrencies, Commodities, Stocks
Leverage N/A Up to 1:500
Educational & Research Support N/A Articles, E-books, Economic Calendar, Push Notifications, Market Alerts
Regulation IFMRRC NBRB
Commission Zero Zero
Demo Account Available Available
Customer Support Email, Live Chat Email, Phone and Live Chat

Quotex vs PocketOption

  Quotex PocketOption
Trading Platforms Proprietary Web platform and Quotex App MT5, Web & Mobile
Minimum Deposit $10 $50
Tradable Assets Forex, Indices, Cryptocurrencies, Commodities Forex
Leverage N/A 1:100
Educational & Research Support N/A N/A
Regulation IFMRRC IFMRRC
Commission Zero Zero
Demo Account Available Available
Customer Support Email, Live Chat Phone and Email support

Quotex Promo code, Bonus & Deals

The Quotex bonus offering seems generous and best in comparison to othsr binary option brokers. The platform offers multi-tiered deposit bonuses depending on the capital you deposited. Here’s a quick overview of bonuses: 

Up to $10  20%
Up to $100  25%
Up to $150  30%
Above $300 35%

Quotex Affiliate Program

The platform offers a generous affiliate revenue to its partners, which is up to 80% of the total revenue per refer. To apply for Quotex affiliate program, follow these steps:

Visit the official website partners.quotex.io and register with the platform.

  • Get your unique referral link.
  • Generate traffic and lead for the platform and get up to 80% revenue per referral.

Quotex Review 2024: Customer Support

The QX broker offers good customer support service in multiple regional languages, including English, French, Spanish and Hindi. 

The users can contact support team via live chat, email and support ticket. However, the unavailability of phone support remains its biggest drawback. 

Here are the contact details of the customer service team:

Quotex Reviews & Ratings

The platform has an excellent reputation on internet, with majority of excellent reviews from existing users.

Quotex Review: Conclusion

As analyzing this detailed Quotex Review, we can say that despite being new in the financial industry, the broker has onboarded millions of users and has emerged as the best trading platform. 

And unlike many other brokers offering trading services, it offers one of the lowest deposit requirements. Moreover, the Quotex promocode and bonus offerings are lucrative, ranging up to 35% depending on the deposited amount. 

The company’s customer service is efficient and available 24/7. However, the unavailability of phone support and an advanced MT4 platform is still a major disadvantage for the broker. 

So, if good customer service and an advanced trading platform are your top concern, this brokerage platform may not be the best one for you. Instead, you should go to another reliable broker such as InvestFW.

Risk Warning: Trading CFDs or any other financial instruments involves significant risk and can result in the loss of your invested capital.

FAQs

Is Quotex Platform Available In The US?

Yes, the broker is available for traders in the US. However, there are some restrictions related to deposits and withdrawals.

Is Quotex A Legit Broker?

The broker is legit as it is well regulated by the International Financial Market Relations Regulation Center (IFMRRC). 

What Is Quotex?

Quotex is the best platform for trading digital options on a wide range of underlying assets. It also offers a free demo account.

Which Is Best Quotex or Binomo? 

While both the brokers are good, Quotex is a better trading platform than Binomo as it offers extra features such as copy trading, multiple trading assets like cryptocurrency, commodities, indices, and Trade signals. With these features, you can build a good trading strategy.

What Are Available Quotex Trade Accounts?

The broker offers two account types: Real and broker’s demo trading accounts.

What Is The Minimum Deposit For Quotex?

The minimum deposit required for trading binary options is $10. 

What Is Quotex Minimum Withdrawal Amount?

The minimum withdraw amount is set at $10, but for Bitcoin, it’s $50. The time withdrawal procedure takes depends only on the volume of simultaneously processed requests.

Should I Invest Money With Quotex?

Yes, you should trade and invest with the broker as it is well regulated, and the markets Quotex offers are over 400. Quotex is also the best trading app for traders.

What Is Quotex Login Process? 

Users can easily sign in to their accounts using the Quotex login details. 

Does Quotex Have An App?

Yes, the broker offers a Quotex trading app for on-the-go and experienced traders. Users can sign in to the account using the same Quotex login credentials. It is really a good platform with most modern technology.

What Does Binary Trading Trading Mean?

Digital option or binary options trading refers to trades based on rising and declining price movement with predetermined costs and fixed outcomes.

How Long Does It Take The Withdrawal Process To Complete?

Quotex withdrawal process completes in 3-5 business days.

What Is Quotex App Download Process?

To start Quotex download process, follow these steps:

  • Head to the official website, click on the “Quotex” app.
  • You will be redirected to the Google’s Play Store.
  • Download the official Quotex trading app from there.

What To Do In Case Of Quotex Login Problem?

If you’re frequently facing Quotex login problem, contact the customer support team. However, in most cases, the error fixes in 1-2 days.

What Is Quotex 100 Bonus Code Today?

The bonus code for the platform is available on the official website of the broker.

What Is Your Review Of Quotex?

As per our Quotex Review 2024, we can say that despite being new in the financial industry, the broker has onboarded millions of users and has emerged as the best trading platform. 

And unlike many other brokers offering trading services, it offers one of the lowest deposit requirements. Moreover, the Quotex promocode and bonus offerings are lucrative, ranging up to 35% depending on the deposited amount. 

Is Quotex A Safe Broker For Investing?

Considering the regulatory complaince, Quotex can be said a safe investing & trading platform as it holds operating license from the International Financial Market Relations Regulation Center (IFMRRC)

Is Quotex The Best Binary Options Broker?

Yes, Quotex is the best binary options broker considering its features and offerings. The platform let you trade with $10 and generous bonus & promotion programs are exceptions.

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