Score
QUOTEX
Saint Vincent and the Grenadines|2-5 years| https://www.quotex-international.com/
Website
Rating Index
Influence
Influence
A
Influence index NO.1
Brazil 8.03Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
Saint Vincent and the Grenadines
2-5 years Suspicious Regulatory License High potential riskUsers who viewed QUOTEX also viewed..
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Sources
Language
Mkt. Analysis
Creatives
WikiResearchWebsite
quotex-international.com
Server Location
United States
Website Domain Name
quotex-international.com
Server IP
104.21.85.81
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qtx-broker.info
Server Location
United States
Website Domain Name
qtx-broker.info
Server IP
104.18.40.8
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quotex.com
Server Location
United States
Website Domain Name
quotex.com
Server IP
34.107.159.43
Company Summary
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information
| QUOTEX Review Summary in 10 Points | |
| Founded | 2019 |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | unregulated |
| Market Instruments | Stocks, currencies, precious metals, indices |
| Demo Account | Yes ($10,000 virtual account) |
| Leverage | N/A |
| EUR/USD Spread | N/A |
| Trading Platforms | Web |
| Minimum deposit | $10 |
| Customer Support | |
What is QUOTEX？
QUOTEX, a trading name of Maxbit LLC., is allegedly a binary options and forex broker registered in Saint Vincent and the Grenadines that provides its clients with a WebTrader as its trading platform and over 410 tradable financial instruments. However, Quotex has not been authorized or regulated by any major financial regulatory body. Additionally, there have been reports and complaints of fraudulent activities associated with the platform.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
QUOTEX has some notable drawbacks, including the lack of a valid regulatory license, numerous reports of scams and poor customer support. On the other hand, QUOTEX does offer a range of trading instruments, and beginner-friendly minimum deposit requirement. However, the risks associated with trading with an unregulated broker may outweigh the potential benefits. It is recommended that traders carefully consider these factors before deciding to trade with QUOTEX.
| Pros | Cons |
| • Demo account available for practice | • No valid regulation |
| • A wide range of tradable assets | Many clients have reported QUOTEX as a scam |
| • Low minimum deposit (10) | • Regional restrictions |
| • No deposit or withdrawal fee | • High inactivity fee |
| • Limited educational resources and research tools available | |
| • No info on trading conditions |
QUOTEX Alternative Brokers
IG - a well-established and reputable broker with a wide range of markets and trading platforms, making it a good choice for experienced traders.
HFM - offers a competitive range of trading instruments and account types, but its customer service has received mixed reviews.
FXTM - offers a range of account types and trading platforms, as well as comprehensive educational resources, but its fees and customer service could be improved.
There are many alternative brokers to QUOTEX depending on the specific needs and preferences of the trader. Some popular options include:
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is QUOTEX Safe or Scam？
It appears that QUOTEX is not a safe broker to trade with. The fact that the broker has no valid regulation is a significant red flag and indicates that they may not be operating in a legitimate manner. Additionally, the numerous reports of scam activities from clients further support the notion that QUOTEX is not a reputable broker. Therefore, it is recommended to avoid trading with QUOTEX and to seek out a broker with proper regulation and a good reputation in the industry.
Market Instruments
securities (shares of world companies)
currency pairs (EUR / USD, GBP / USD, etc.)
raw materials and precious metals (oil, gold, etc.)
indices (S&P 500, Dow, dollar index, etc.)
QUOTEX advertises that it is a multi-asset platform with more than 410 trading instruments across 4 asset classes for digital options trading:
Accounts
QUOTEX says that it offers free demo and real accounts. Traders can register and get $10,000 on a demo account for learning to trade. Traders can start with a low amount of $10. Although this is the reasonable and proper amount, traders should stay away from this broke given the fact that this broker is an unregulated one.
Trading Platforms
When it comes to trading platforms available, QUOTEX gives traders three choices: WebTrader, desktop and mobile (iPhone, Android) versions. Whatever, we suggest you use MetaTrader4 or MetaTrader5 as the trading platform. As most traders know, the MT4 and MT5 are known as the most successful, efficient, and competent forex trading software. The MT4 offers an intuitive and user-friendly interface, advanced charting and analysis tools, as well as copy and auto-trade options. While the MT5 allows traders to execute trades on different financial markets through a single account and there is a hedging option.
See the trading platform comparison table below:
| Broker | Trading Platforms |
| QUOTEX | Web-based |
| IG | Web-based, MT4, MT5, ProRealTime |
| HFM | MT4, MT5, WebTrader, Mobile App |
| FXTM | MT4, MT5, WebTrader, Mobile App |
Note: It's important to remember that brokers may offer different trading platforms in different regions, and this information may be subject to change.
Deposits & Withdrawals
From the logos shown at the foot of the home page on QUOTEXs official website, we found that this broker seems to accept deposits and withdrawals with Visa, MasterCard, advcash and Perfect Money. The method that you have chosen to deposit the account is also a method of withdrawing funds.
The minimum deposit requirement is said to be $10 and the minimum withdrawal amount is $10 for most payment systems, while for cryptocurrencies this amount starts from $50 and may be higher for certain currencies such as Bitcoin.
QUOTEX minimum deposit vs other brokers
| QUOTEX | Most other | |
| Minimum Deposit | $10 | $100 |
The firm does not charge fees for deposits or withdrawals. However, note that payment systems can charge their fee and use the internal currency conversion rate. As for the processing time of withdrawal requests, the withdrawals usually take 1-5 days.
When it comes to the withdrawal of a sufficiently large amount, the Company may request verification. Usually, additional documents to withdraw funds are not needed . But the Company at its discretion may ask you to confirm your personal data by requesting certain documents.
QUOTEX Money Deposit
To deposit funds into your QUOTEX account, you need to follow these steps. The procedure will take a couple of minutes.
Step 1: Open the trade execution window and click on the green “Deposit” button in the upper right corner of the tab.
You can also deposit the account through your Personal Account by clicking the “Deposit” button in the account profile.
Step 2: After it is necessary to choose a method of depositing the account.
Step 3: Next, indicate the currency in which the account will be deposited, and accordingly the currency of the account itself.
Step 4: Enter the amount of the deposit.
Step 5: Fill out the form by entering the requested payment details.
Step 6: Make a payment.
Fees
QUOTEX doesnt openly reveal any information about their trading conditions. We have no way to know their spreads and commissions. They also do not mention any specific inactivity fee. The only available information is that they charge no fees for deposits and withdrawals. Traders should review the fee schedule on QUOTEX's website carefully before opening an account to ensure they understand the potential costs involved in trading with this broker.
See the fee comparison table below:
| Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
| QUOTEX | Free | Free | N/A |
| IG | Free | Free | None |
| HotForex | Free | Fees vary by method | $5 per month after 6 months of inactivity |
| FXTM | Free | Fees vary by method | $5 per month after 6 months of inactivity |
Customer Service
QUOTEX‘s customer support can be reached by email: support@quotex.io. Besides, you can also follow this broker on some social media platforms like Facebook, Twitter, Telegram and Instagram. Company address: First Floor, First St Vincent Bank LTD Building, James Street, Kingstown, St. Vincent and Grenadines. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most brokers offer.
| Pros | Cons |
| • Multilingual support | • No 24/7 customer support |
| • Social media presence | • No live chat or phone support available |
| • Quick response times and helpful responses from support team |
Note: These pros and cons are subjective and may vary depending on the individual's experience with QUOTEX's customer service.
User Exposure on WikiFX
On our website, you can see that some users have reported that QUOTEX is a scam company. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Conclusion
Overall, QUOTEX appears to be an unregulated and potentially fraudulent broker with many red flags, such as a lack of regulation, numerous negative reviews, and suspicious business practices. Additionally, the broker's fee structure is not transparent, and there is limited information about its trading conditions. Overall, it is not recommended to trade with QUOTEX, and traders should consider other regulated and reputable brokers instead.
Frequently Asked Questions (FAQs)
| Q 1: | Is QUOTEX regulated？ |
| A 1: | No. It has been verified that QUOTEX currently has no valid regulation. |
| Q 2: | At QUOTEX, are there any regional restrictions for traders？ |
| A 2: | Yes. The website services are not available in several countries, including the USA, Canada, Hong Kong, EEA countries, and Russia as well as for persons under 18 years of age. |
| Q 3: | Does QUOTEX offer demo accounts？ |
| A 3: | Yes. QUOTEX offers demo accounts with $10,000 virtual capital. |
| Q 4: | Does QUOTEX offer the industry-standard MT4 & MT5？ |
| A 4: | No. Instead, QUOTEX offers a web-based trading platform. |
| Q 5: | What is the minimum deposit for QUOTEX？ |
| A 5: | The minimum initial deposit with QUOTEX is just $10. |
| Q 6: | Is QUOTEX good broker for beginners？ |
| A 6: | No. QUOTEX is not a good choice for beginners. It advertises well though, it lacks legitimate regulation. |
Keywords
- 2-5 years
- Suspicious Regulatory License
- High potential risk
Disclosure
cmvm warns investors about the QUOTEX / Maxbit LLC and the QUOTEX /awesomo ltd
Country/Region
Disclosure time
2023-01-03
Disclose broker
Qotex/Maxbit LLC
Country/Region
Disclosure time
2022-10-18
Disclose broker
Finantsinspektsioon Investor Alert - Qotex/Maxbit LLC 18/10/2022 Estonia
Country/Region
Disclosure time
2022-10-18
Disclose broker
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
Country/Region
Disclosure time
2022-02-02
Disclose broker
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FX2352028032
Venezuela
Today I was going to start my session and this came up, My quotex account with $900 was deleted and I can't recover my account or my money.
Exposure
11-27
FX3489295926
Colombia
Together with my husband, we created two accounts on quotex and made two deposits of $69 and another of $60. We did not accept any promotion codes or anything similar. We have been trying to make withdrawals for a week now, but it has not been possible. They say that the withdrawal is being processed by the financial operator and then they return the funds, claiming that the financial operator made a refund, which is false. We have written emails without any response, and email is the only means of communication with customer service. This broker is a scam.v
Exposure
10-20
abad426
Bolivia
I made a transfer of 52 USDT from Bybit to QUOTEX but the deposit never reached the broker, the deposit addresses have been changed by some scam network.
Exposure
08-03
FX5760933162
Egypt
I don't know why I got banned, seriously.
Exposure
07-20
tomas7453
Argentina
On July 10, I created my account with a promotional code that granted 70% by charging 599 USD for binancepay. The same day it was operated and the day ended with 2,700 USD, requesting a withdrawal of 2,334 USD, accepting the bonus reduction. The next day the account was closed for no real reason, I tried to contact support repeatedly and never had any answers. I demand the recovery of both the account and its funds since no rules were broken.
Exposure
07-18
Teo_30
Colombia
Previously I was confused and I had no problems. I deposited 10 dollars, my bank approved it. But the broker gave it as a failed deposit I think my money was stolen. I do not recommend using quotex or poke nor operating in OTC on weekends.
Exposure
05-30
sokary
Egypt
The deposit was made on the Kiox platform yesterday via my Orange Cash wallet, but the deposit did not arrive in my account on the platform. I contacted the wallet’s customer service and the balance has already been transferred, and I have a screenshot of the transfer and the transaction number!!! I want a quick solution..
Exposure
05-24
晨曦11704
Hong Kong
I was induced to deposit 100usdt through Binance, but it has not been credited to my account. The balance is 0. How can I contact this official website?
Exposure
05-01
FX3416657689
Algeria
My new account has been banned and I have permanently deleted my old account. Please solve my problem.
Exposure
05-01
Kevin7147
Peru
TAKE PROFIT, IT DOES NOT GIVE ME PROFITS. I already realize that this broker is a fraud, he could not respect my profit, that day I made about 4 sales with a period of 4 hours (start at 8 p.m. and close at 1 a.m. next) and the profit was the same. but there was 1500 pips difference when he closed the trade. but in the image it is not expressed, but in graphics it can be appreciated. Fortunately it was in demo. This broker already generated distrust in me, I do not plan to invest real money in this broker. For the following reasons. 1. altered take profit. 2. Many people say that you cannot withdraw your winnings
Exposure
04-26
FX8900667092
Colombia
Hello everyone, on 04/15/2024, I made a withdrawal of 52 USD. Before, the broker made the withdrawal immediately to the Binance Pay account, this time the withdrawal did not arrive, it has already taken more than 5 business days than the usual ones that they ask for 3-5 days. Please I NEED your help.
Exposure
04-23
Kevin7147
Peru
TAKE PROFIT, IT DOES NOT GIVE ME PROFITS.. I already realize that this broker is a fraud, it could not respect my profit, that day I made about 3 sales with a period of 4 hours (start at 8 p.m. and close 1 of the day next) and the profit was the same. but there was 1500 pips difference when he closed the trade. but in the image it is not expressed, but in graphics it can be appreciated. Fortunately it was in demo. This broker already generated distrust in me, I do not plan to invest real money in this broker. For the following reasons. 1 . také profit altered. 2. Many people say that you cannot withdraw your winnings.
Exposure
04-21
isaac623
Mexico
On Monday morning, April 15, I raised the account to 197,150 dollars and by noon I no longer had the profits. They emptied my account. They sent me a notice that they were giving me 400 dollars in bonuses.
Exposure
04-20
iva434
Argentina
My situation is the following: I tried to make a withdrawal of the balance but I could not do it since my account was not confirmed. I asked quotex support to send me the confirmation email. They responded that my email address did not exist. Again I requested They edit my profile to change the email address so they can send me the confirmation email and I can withdraw the balance. I have not had a response until today. I send a screenshot of the support response and the main screen of the email inbox that I put in the account profile where it is confirmed that the address provided does exist. I would like you to review the profile to change the email or send me a new confirmation email. Thank you.
Exposure
04-20
FX9676363132
United States
My case today was from the quotex broker who has not responded to me for more than 8 days about a withdrawal I made and neither have the customer service people responded to me. At first I withdrew and everything was going very well because they were a small bunch and Now that it is an amount by everything I have invested and I managed to recover some of the investments I have made and they do not want to make the deposit, the truth is it is unfair and there are also YouTubers who invite you to enter the platform like JESUS TRADERS WHO INVESTS YOU AND WANTS YOU TO DEPOSIT BY FORCE AND PROMISES TO DO OPERATIONS WITH YOU AND ONLY LIES AND SO WHAT HAPPENED TO ME I WAS JUST CONFIDENT AND DEPOSITED UNTIL I WAS IN DEBT PLEASE FRIENDS EVERYONE IN GENERAL IF YOU READ THIS MESSAGE DON'T MAKE THIS MISTAKE PLEASE ××QUOTEX×× IT IS NOT RELIABLE DO NOT FALL INTO THE TRAP PLEASE 🙏 IT IS NOT CONVENIENT FOR YOU TO RESPOND AND THE TRUTH THANKS TO THIS EXPERIENCE I WILL NO LONGER DO IT LOOK AND SEE THEY DO NOT ANSWER ANYTHING I HOPE YOU CAN HELP ME RECOVER THIS PLEASE 🙏
Exposure
04-19
DAZ1520
Argentina
Today it happened to me that I put 10 dollars in the account and won 143... when I withdrew they disabled my account for a few hours and after that when I was able to re-enter the account I only had the initial 10 dollars and the profits were no longer there. They canceled my withdrawal and took away what I earned...
Exposure
04-16
l.pc.trading máx
Colombia
Hello, good afternoon, I have been operating at quotex for more than a year and a half and today, April 15, 2024, without any reason, my account was suspended. I received a notification that my account was suspended for violating the company's rules and policies, something that is not correct, at no time do you carry out such a violation of the rules, I am waiting for a logical response and to make the corresponding claims. I do not know if this could have happened to someone else and if they have already resolved the case since I have funds in my account, please help me, thank you.
Exposure
04-16
hernan7255
Argentina
Hello, good afternoon everyone, I have been operating at quotex for less than a month and today, Monday, 04/15/24, after operating during the morning, when trying to operate after noon the cell phone application asks me to log in, when I try to log in it skips me a notification that my account was suspended for violating the company's rules and policies, something illogical, especially given the fact that I have a negative balance and have $273 in the account and I consider that they closed it by mistake since there is no reason Logically, I made the corresponding claim to the support and now I will wait for the response, I just hope it is not delayed, and I would like to know how long it can take to restore my account and if you can give me your help in addition to asking if someone was able to resolve a case like this , thank you.
Exposure
04-16
Manuel5545
Argentina
On April 2, 2024, I made a withdrawal of $81. After the 48 hours that the broker says it takes, I received nothing and on top of that I removed the option to cancel the withdrawal. Then when I wanted to contact them they said that they would give me the money between 3 and 5 days but it turned out to be all a lie since it was almost a week later and I did not receive my money. Contact support and they do not respond, contact the email and neither do they. I would like to know if it can be solved or why because it seems like they scammed me and it seems a disaster to me that these platforms can do it just like that without receiving consequences. I am very angry and I don't understand how things like this can happen with brokers.
Exposure
04-09
FX2178844261
Egypt
When I registered for the platform, an error occurred in my email and the money was transferred, until now my email has not been confirmed and I cannot withdraw my money and no email has been sent to me.
Exposure
04-02