Quotex Review

Quotex is an online forex and CFD broker that provides trading services to clients around the world. The broker is regulated by the International Financial Market Relations Regulation Center (IFMRRC), which ensures that Quotex operates in compliance with international standards for financial services. Quotex offers a range of trading instruments, including forex currency pairs, commodities, and cryptocurrencies.

The broker also provides its clients with access to trading education and analysis tools to help them make informed trading decisions. Quotex offers a user-friendly trading platform that is available on desktop and mobile devices, and the broker supports multiple payment methods, including bank transfers, credit cards, and electronic payment systems.

Company Details

Quotex is an online forex and CFD broker that was founded in 2020. The company is based in St. Vincent and the Grenadines and is regulated by the International Financial Market Relations Regulation Center (IFMRRC). Quotex offers a range of trading instruments, including forex currency pairs, commodities, and cryptocurrencies, and provides its clients with access to a user-friendly trading platform.

The broker also offers trading education and analysis tools to help traders make informed decisions. Quotex supports multiple payment methods, including bank transfers, credit cards, and electronic payment systems, and provides multilingual customer support to clients around the world.

Is Quotex Regulated?

Quotex claims to be regulated by IFMRRC (License number TSRF RU 0395 AA V0161). This is the “International Financial Market Relations Regulation Center.” It is an independent body, not a government agency. So, this broker is not really “regulated” in any official capacity, but IFMRRC, apparently, offers dispute resolutions for customers of their members, which adds some sort of protection to traders.

Trading Platform

Quotex offers a user-friendly trading platform that is designed to be accessible to traders of all levels of experience. The platform is available on desktop and mobile devices, and it can be accessed via a web browser without the need to download any software. Quotex’s trading platform features a range of charting tools, technical indicators, and drawing tools to help traders analyze the markets and make informed trading decisions. The platform also includes a variety of order types, including market orders, limit orders, and stop-loss orders, as well as risk management tools like take-profit and stop-loss levels. Additionally, the platform is customizable, allowing traders to tailor it to their individual preferences and needs.

How Do You Open an Account with Quotex?

Opening your account with Quotex is easy. Just click on the green Create Account button you will find in the upper right-hand corner of the homepage.

You will then need to input a few basic details to create your account. After doing so, you can see the proprietary trading platform.

At that point, you can start trading with the demo account, or you can make a deposit to open a live account.

Every time we tried to make a demo trade, it kept asking us whether we wanted to make a demo or real trade, rather than just making the demo trade. This may be a temporary bug, or some issue with our browser (we are in Firefox).

The good news, however, is that the demo account appears to be unrestricted.

Depositing and Withdrawing with Quotex

Promotions

Quotex offers a wide variety of promotions. When you make your first deposit, you can get a match bonus of 30%. If you click on Market inside the trading platform, you will be taken to a page where you can input promo codes for the following types of promotions:

• • Cash-back

Percentage of Turnover

• Risk-Free
• Balance Bonus
• Cancel X Points

That is a nice selection, and more than a lot of competing binary options brokers offer.

Trading

Now let’s talk about trading on the proprietary platform. It looks comparable to a lot of platforms you may have seen on other binary sites, and features simple navigation and large, attractive charts. You can select an asset on the top and choose a direction (Up or Down) on the right along with an expiry time. That is where you also can monitor your trades.

In total, we counted 37 different assets to trade, all of which were currencies, cryptocurrencies, or indices. The site says it offers stocks as well. The only type of trade offered is High/Low, with expiry times as short as 1 minute. Some more variety with respect to assets and trade types would be nice.

The minimum trade size is $1 and the maximum trade size is $1,000. That is a nice range, and again, friendly to those with smaller trading accounts.

There is, unfortunately, a general lack of trading resources in the form of educational materials and tools. There is no out-of-money reward, and tools such as double up, rollover, and early close do not exist. In fact, the only trading tool we did find is signals, which you can access by clicking on its icon on the far left-hand side of the trading interface.

Customer Support

There does not appear to be a way to reach Quotex by phone, but support options available include email, a ticketing system, a web form, paper mail, and live chat.

You will not see the live chat option if you are not logged in. But once you are, you can open the trading platform and look for the green Live Chat button in the lower left-hand corner.

When we tested live chat out with a few questions, it took a couple minutes to be connected with an agent and to get an initial reply. But after that, the agent was friendly, responsive, patient, and very informative.

Conclusion: Quotex Is a Mixed Bag

You now know our thoughts on Quotex, and what you can expect if you decide to open an account to trade with this binary options broker.

We were not impressed by the lack of regulation, and would have liked to see more assets to trade, types of trades, educational resources, and trading tools.

But we like the proprietary binary trading platform, the variety of bonuses and promotions, the varied options for languages, the helpful customer support, and the fact that USA traders can use this site.

So, Quotex may be worth giving a try. Since we are still learning about this broker and they are unregulated, we would recommend if you do decide to move forward, that you use caution and make a small deposit initially to test the waters.

Frequently asked questions (FAQs)

1. What trading instruments are available on Quotex?Quotex offers a range of trading instruments, including forex currency pairs, commodities, and cryptocurrencies.
2. What trading platform does Quotex use?Quotex provides its own proprietary trading platform that is accessible via a web browser on desktop and mobile devices.
3. What deposit methods are available on Quotex?Quotex offers several deposit methods, including bank transfer, credit and debit cards, electronic payment systems, and cryptocurrencies.
4. Does Quotex charge any fees for deposits or withdrawals?Quotex does not charge any fees for deposits or withdrawals, but some payment providers may charge their own fees.