Quotex

Quotex Review for Traders: Fast Execution, No Fees & Big Profits

The Quotex project was launched by a team of top-notch specialists in 2019. Since then, Quotex has been helping traders realize their desires and opportunities. Not only does the platform have over 200 tradable assets, but it is also committed to educating users on how to develop their trading and financial skills. This is why it has dozens of tools allowing users to trade and earn as they desire.

The result of this level of efficiency and commitment to customer satisfaction is why Quotex has positive ratings on several review sites, including Trustpilot, where it has a 4.7 rating from 4,665 reviews. We will provide a comprehensive Quotex review, highlighting why it is unique, its regulatory status, security, key features, how to start trading on the platform, and more.

From Trustpilot

Quotex Legitimacy: Is It a Regulated Platform?

When we talk about the legitimacy of a broker, oftentimes people confuse it with regulation. Although regulation serves to enhance the legitimacy of a platform, it is not the only defining factor. Let’s quickly understand what regulation is all about.

A regulated platform is one that is regulated or controlled by a financial authority that ensures the broker complies with strict standards and guidelines.

So is Quotex legit? Quotex is not regulated by any financial body, which is why some individuals question its legitimacy. This is not so much of an issue as many other renowned brokers are not regulated. So far, Quotex has been providing top-quality services with more positives than negatives based on its ratings on review sites like Trustpilot. One can argue that the platform is legitimate despite not being regulated.

However, given that some financial authorities have called out Quotex in the past for not being regulated, it’s recommended that users proceed with caution when trading on the platform.

Quotex Policies on the Platform

Quotex’s policies cover account verification, trading terms, withdrawals, and risk disclosure. You need to read and understand these policies to ensure a smooth trading experience. For instance, if you don’t complete the Quotex verification process, you cannot trade on the platform.

Identity Verification Process

Here’s how to go about it:

Step 1: After you have completed the registration and the Quotex login process, the trading terminal will open.

Step 2: Click on the menu icon in the top left corner.

Step 3: Select “Account”.

Step 4: To verify your account, you have to provide certain identification documents and submit personal information. This includes your nickname, first name, last name, date of birth, and address.

Step 5: After filling in the information, click “Save.”

Step 6: The next step is to provide a valid identification document, such as a civil passport, driving license, or National Identity card. Click “Upload Documents” to begin.

Step 7: Choose your country of residence, and then click on “Continue.”

Step 8: Select your document type and then click “Next.”

Step 9: Upload a photo of your document; both the front and back sides are required, and then click “Next.”

Step 10: Quotex will then process your verification application. The verification will be completed within 5 days, and then you can start trading fully on the platform.

Quotex’s Trade Policies

The trading policies of Quotex set the guidelines for doing transactions on the platform. Key points include:

General Trading Provisions

• Clients must trade using only their own funds; insufficient balance prevents trading.
• Every trade is logged on the corporate server and given an ID.
• Customers cannot manipulate trades, participate in fraud, or use automated trading systems.

Trading Execution Rules

• Trade requests cannot be canceled once they have been turned in if already carried out.
• Regardless of external pricing variances, the company's server is the only certified trading data source.

Quotex Payment Policies

Along with Quotex's financial responsibilities to customers, its payment policy details the processes for depositing and withdrawing money. Before starting actual trading, you must fund your trading accounts; the selected deposit method also acts as the withdrawal method. You bear all related risks; the company does not take liability for payment system issues.

When making deposits, you have to make a request via your personal accounts, choosing a payment method and currency. The selected payment method determines the processing time; electronic payments are instantaneous while bank transfers can take up to 5 days.

Particularly for bank card transactions, withdrawals require a formal request that meets legal and corporate policy requirements, and the company may limit withdrawals to the deposit method used or demand extra verification.

Quotex does not take liability for the activities of third-party agents engaged in withdrawals. Withdrawals are processed in the account currency; conversions are based on company-defined exchange rates, which could vary from official prices.

Quotex Compliance with KYC and AML Regulations

To guarantee adherence to legal frameworks meant to combat financial crimes, including money laundering and terrorism funding, Quotex strictly enforces Know Your Customer (KYC) and Anti-Money Laundering (AML) policies.

You have to verify the legal origin of your funds, submit necessary identity documents upon request, and avoid fraudulent financial activities on the platform.

Quotex actively monitors non-trading activities, including deposits and withdrawals, to adhere to AML regulations and implement measures to detect and prevent financial abuse.

Should compliance concerns surface, the corporation can ask for documents proving a client's financial situation, refuse suspicious transactions, or restrict account access.

Another top concern is data protection; all client data is managed safely to prevent unwanted access. Through these measures, Quotex conforms to international financial security guidelines and protects its platform from illegal activity, therefore guaranteeing regulatory compliance.

Trading Fees

There are no Quotex fees for deposit, withdrawal, trading, or account maintenance. You need to remember, though, that third-party payment solutions that you use might charge these fees.

Available Quotex Assets

As we stated earlier, there are lots of asset choices available on the platform. Here is a complete list of the available Quotex assets:

Currency Pairs:

• EUR/USD​
• GBP/USD​
• USD/JPY​
• USD/BRL
• USD/BDT
• USD/COP
• USD/ARS
• USD/DZD
• USD/CAD​
• USD/CHF​
• USD/EGP
• USD/IDR
• USD/INR
• USD/PHP
• USD/ZAR
• USD/NGN
• USD/MXN
• USD/TRY
• USD/PKR
• AUD/USD
• NZD/USD​
• EUR/GBP​
• EUR/JPY​
• GBP/JPY​
• AUD/JPY​
• GBP/CAD​
• GBP/CHF​
• GBP/NZD​
• GBP/AUD
• EUR/AUD
• EUR/CAD​
• EUR/CHF​
• EUR/NZD​
• EUR/SGD
• AUD/CAD​
• AUD/CHF​
• AUD/NZD​
• CAD/CHF​
• CAD/JPY​
• CHF/JPY​
• NZD/CAD​
• NZD/CHF​
• NZD/JPY​

Commodities:

• Gold
• Silver
• Crude Oil​
• Brent Oil​

Indices:

• American Express
• S&P 500​
• Dow Jones Industrial Average​
• NASDAQ​ 100
• FTSE 100​
• FTSE China A50 Index
• DAX 30​
• CAC 40​
• Nikkei 225​
• Hang Seng​
• Hong Kong 50
• ASX 200​
• Euro Stoxx 50​
• IBEX 35​
• MIB 40
• S&P/TSX​
• S&P/ASX 200
• Russell 2000​
• KOSPI​

Stocks:

• Apple​
• Microsoft​
• Amazon​
• Alphabet (Google)
• FACEBOOK Inc
• Tesla​
• Alibaba​
• Berkshire Hathaway​
• Johnson & Johnson​
• JPMorgan Chase
• Visa​
• Walmart​
• Nestlé​
• Procter & Gamble​
• Roche​
• Intel​
• Cisco Systems​
• Oracle​
• IBM
• Netflix​
• PepsiCo​
• Coca-Cola​
• Pfizer​ Inc.
• Novartis​
• Toyota​
• Samsung​
• AT&T​
• Verizon​
• Chevron​
• ExxonMobil​
• Bank of America​
• Wells Fargo​
• Citigroup​
• HSBC​
• Royal Dutch Shell​
• BP​
• Total​
• L'Oréal​
• Unilever​
• Siemens​
• Boeing
• McDonald's​
• Nike​
• Adobe​
• Salesforce​
• PayPal​
• Uber​
• Lyft​
• Snap​
• X
• Spotify
• Shopify
• Zoom
• NVIDIA​
• AMD​
• Qualcomm​

Cryptocurrencies:

• Bitcoin
• Ethereum
• Litecoin
• Ripple
• Dogecoin
• Shiba Inu
• Floki
• Pepe
• Solana
• Toncoin
• Trump
• Bonk
• Dogwifhat

Quotex Breakdown: Key Features

In this section, we’ll provide a breakdown of Quotex’s key features.

How to Use Quotex

Quotex offers a simple trading interface meant for both novice and expert traders. To help customers vary their portfolios, the platform offers currencies, cryptocurrencies, commodities, and indices, among other assets. To enable traders to make wise judgments, the trading platform offers customized charts, real-time market data, and multiple order execution options.

Users can apply several timeframes, place market and pending orders, and utilize risk management options, including stop-loss and take-profit settings. Customizing Quotex's range of technical indicators, such as moving averages, RSI, and Bollinger Bands, allows one to match various trading strategies.

Quotex Account Types Review

The platform has three types of real accounts:

• Standard: This account is made for beginners, as the minimum deposit amount is just $10. Its trade probability percentage is limited, as one might expect. When you trade, you get a basic percentage of profitability for all trading tools
• Pro: If you are already an active trader, this should be your pick. Although you’ll have to maintain a balance of at least $5,000 to use this account, it has its advantages. First of all, the profitability is increased (+2%), and you will get promo codes.
• VIP: The VIP account is where professionals do their magic. As far as the probability percentage is concerned, none of the other accounts come close. There is an extra 4% added, but you’ll have to maintain a balance of at least $10,000.

Promotions and Bonuses

Apart from the deposit bonus of 30% on your initial deposit, Quotex provides customers with promo codes they can use to get exciting bonuses. These promo codes are released monthly on the platform’s Telegram channel.

Bear in mind that each promo code lasts for a limited time and will expire when activated by a certain number of users. Therefore, you need to take advantage of them as soon as they are released to enjoy the special bonuses they offer.

The following are the additional bonuses you can access using promo codes:

• Risk Free. If you lose a trade, you can use this bonus to cancel it. It can only be used for non-hedge trades, and the amount must not exceed your promo code’s maximum value.

• Cashback: When a promo code is active and you lose a trade, you’ll be given back a percentage of the amount lost.

• Percentage of Turnover. For every trade you open, you get back a percentage of your funds into your account.

• Balance Bonus. Rather than waiting for a bonus turnover, Balance Bonus allows you to transfer your bonus funds straight to your account balance.

• Cancel X Points. This automatically cancels your loss trades with a difference of a few points. Your promo code value determines the number of points you get.

Deposits and Withdrawals

Below is a list of all the deposit methods supported by the platform:

Bank Cards:

• Visa
• Mastercard

The minimum deposit amount for Visa and Mastercard is $10.00, and the maximum is $1,000.00.

• Local Debit Cards

The minimum deposit amount for Visa and Mastercard is $10.00, and the maximum is $655.00.

Cryptocurrencies:

• USD Tether (TRC-20)
• USD Tether (ERC-20)
• USD Tether (Polygon)
• USD Coin (ERC-20)
• USD Coin (Polygon)
• Binance Pay
• Litecoin (LTC)
• Bitcoin Cash
• Tron (TRX) Dash
• Polygon (MATIC)
• Dai
• Solana
• Polkadot
• Zcash (ZEC)
• Dogecoin
• Ripple
• Apecoin (APE)
• Uniswap (UNI)
• Avalanche (AVAX)

The minimum deposit amount for USD Tether (TRC-20), USD Tether (ERC-20), USD Tether (Polygon), USD Coin (ERC-20), USD Coin (Polygon), Binance Pay, Litecoin (LTC), Bitcoin Cash, Tron (TRX), Dash, Polygon (MATIC), Dai, Solana, Polkadot, Zcash (ZEC), Dogecoin, Ripple, Apecoin (APE), Uniswap (UNI), and Avalanche (AVAX) is $10.00, and the maximum is $50,000.00.

• USD Tether (BEP-20)

The minimum deposit amount for USD Tether (BEP-20) is $20.00, and the maximum is $50,000.00.

• Bitcoin (BTC)
• Ethereum (ETH)

The minimum deposit amount for USD Tether (BEP-20) is $50.00, and the maximum is $50,000.00.

• Shiba Inu (ERC-20)

The minimum deposit amount for USD Tether (BEP-20) is $100.00, and the maximum is $50,000.00.

Bank:

• Bank Transfer

The minimum deposit amount for bank transfer is $11.00, and the maximum is $655.00.

 

The method you use to deposit funds is the same method you will use to withdraw funds. For instance, if you made a deposit using Bitcoin, you will have to withdraw using Bitcoin as well.

Bear in mind that your withdrawal request will be processed within 3 business days. If you still haven’t received your money after the third day, you can contact Quotex customer support.

How to Deposit Crypto

To deposit crypto, follow the steps below:

Step 1: Click on “Deposit” from the trading terminal.

Step 2: Select your preferred crypto from the list of available cryptocurrencies.

We choose Bitcoin.

Step 3: Enter the amount you want to deposit in your preferred currency. We are using USD.

Remember that the minimum deposit is $50.

Step 4: Toggle the “Use Bonus” button if you have a promo code.

Step 5: Enter the promo code if you have one, then click on “Apply promo code.”

If you don’t, skip this step.

Step 6: If this is your first deposit on Quotex, choose your bonus based on how much you are depositing.

If this is not your first deposit, you won’t see this option because you’d have already used it.

For the first-time deposit, once you select your bonus, a promo code will automatically be applied.

Step 7: Click “Deposit.”

Step 8: Fund your account by transferring the exact amount of crypto indicated to the address provided.

Bear in mind that you need to complete the transfer within 24 hours.

Trading Tools

Quotex provides a set of advanced trading tools meant to improve decision-making and optimize trade strategies. They include trading signals, a wide selection of technical indicators, and customizable charting.

Quotex Trade Signals

Quotex helps traders find potential trading opportunities, thanks to its built-in trade signals. Based on technical analysis and market patterns, these signals provide information on prospective points of entry and exit. The tool lets traders filter and choose relevant opportunities by asset type.

Quotex Technical Indicators

Quotex provides a whole range of technical indicators to improve traders' analytical skills. The platform offers the following trend indicators and oscillators.

Trend Indicators:

• Alligator
• Bollinger Bands
• Envelopes
• Fractal
• Ichimoku Cloud
• Keltner channel
• Donchian channel
• Supertrend
• Moving Average Parabolic SAR
• Zig Zag

Oscillators:

• ADX
• Aroon
• Awesome Oscillator
• Bears power
• Bulls power
• CCI
• DeMarker
• ATR
• MACD
• Momentum
• RSI
• Rate of Change
• Stochastic Oscillator
• Schaff Trend Cycle
• Vortex
• Volume Oscillator
• Williams %R
• Weis Waves Volume Oscillator

They help traders identify market trends, momentum, and potential reversal points, thereby facilitating informed decisions.

Quotex Chart Time Frames

With a range of chart time frames, Quotex allows traders to analyze price movements over several periods. For quick trades, the platform includes short-term time frames, including 5 seconds, 15 seconds, and 1 minute. There are even longer options like 5 minutes, 15 minutes, and 1 hour. You can select 4 hours and even 1 day for a more detailed market analysis.

Quotex Chart Types

Quotex offers a range of chart styles to suit various trading styles and analytical requirements. The platform offers four main types of charts:

• Area chart
• Candlestick chart
• Bar chart
• Heiken Ashi chart

These diverse charting options let traders choose the best visualization tools for their analysis, improving their capacity to understand market data.

Tournaments and Other Perks

Tournaments are occasional events that can be accessed on the left-hand panel of the trading terminal.

Once you click on it, you’ll find the tournaments that are currently active as well as the following information about each event:

• The name of the tournament
• How many days are left until it starts
• The prize pool
• The entry fee
• Number of participants
• Duration of the tournament

You can then click on “Details” on any of the current tournaments to find out more about them. The new page will reveal additional details that weren’t displayed earlier, such as:

• Rebuy cost
• The exact time the tournament starts
• When and what time the tournament will end
• The number of rebuys

Quotex Customer Support

Quotex makes sure users can get help when needed by providing several support channels. The platform is accessible to a worldwide audience since its customer care is open 24/7 and supports over 20 languages.

Quotex Support Channels

• Ticket system. Users can generate support tickets straight from their accounts, enabling real-time tracking of the status of their inquiries.
• Email support. For formal or complex problems, users can send an email to [email protected] or [email protected].
• Social media. Quotex is active on important social media platforms.
• Mail correspondence. Users can reach Quotex at Main Street, P.O. Box 625, Charlestown, St. Kitts and Nevis for corporate or important matters.

Although Quotex does not provide live chat or phone help, its multi-channel strategy and round-the-clock availability give consistent client service. This is one of the reasons why not many people believe the Quotex fraud claims made by certain reviewers.

Tutorials

Quotex provides tutorials on how to trade and how to pass verification.

To access these tutorials, click on “Support” on the left panel.

Then, click on “Tutorials.”

Quotex doesn’t have tutorials or educational videos like some other platforms do.

Mobile vs Web Versions of Quotex

Quotex has a mobile app for Android users, which can be downloaded from the Play Store. The iOS version is still in development. Regarding trading capability, the mobile app reflects the web version in all respects.

When we compare the mobile and web versions, the only difference is the interface design. For instance, on the web version, the terminal icons are arranged on the left panel. On the mobile version, these icons are found at the bottom panel. Such changes make the platform more user-friendly.

Furthermore, some sections of the app may send visitors to the web version. For example, you will be sent to the web version at the final stages of depositing funds to your account.

How to Register and Verify Your Account on the Quotex App

Step 1: Download the app from the Play Store.

Step 2: The registration page will be displayed when you open the app.

Step 3: Choose your country, enter your email address and password, and then select your preferred currency.

Step 4: Confirm that you are 18 years old, and then tap “Register.”

Step 5: The Quotex login page will now be displayed. Choose your country and enter your email and password.

Step 6: Tap “Login to Account.”

Step 7: Go to your email and then tap on the link to verify your account.

Step 8: Come back to the trading app and tap on the “Profile” icon at the bottom of the screen.

Step 9: Enter the following information: nickname, first name, last name, date of birth, and address.

Step 10: Tap “Save” to complete the personal data verification process.

Step 11: The next thing is to verify your documents. Tap “Upload Documents.”

Step 12: Choose your country of residence and then tap “Continue.”

Step 13: Select the document you want to upload.

Step 14: Upload the front and back sides of the document.

Step 15: Tap “Next.” Quotex will then process your verification application. The verification will be completed within 5 days, and then you can start trading fully in the app.

Placing an Order and Using Technical Analysis on the App

Step 1: Enter the amount you want to trade.

Step 2: Check the bottom left section of the terminal and choose the assets to trade.

Step 3: Tap the green up button or Quotex down green button.

Once you do this, your trade will begin.

Step 4: To use technical analysis tools, tap the indicators icon on the left side of the terminal. The icon is the last of the four you’ll see there.

Step 5: Pick any of the indicators and then apply it.

Deposit and Withdrawal on the Quotex App

Step 1: Tap  “Deposit” in the top right corner of the trading terminal.

Step 2: Choose from any of the listed deposit methods.

We chose local debit cards.

Step 3: Enter the amount you want to deposit.

Step 4: If it is your first deposit on the platform, ensure you choose your bonus. This will give you an automatic promo code.

Step 5: Tap “Deposit.”

Step 6: You’ll be directed to a payment portal. Fill in all the necessary information and make the deposit.

For withdrawal, simply go to your profile, choose withdrawal, and then follow the same process as the website version we discussed earlier. Bear in mind that you can only use the same method you used for deposit when withdrawing. Your request will be handled within 3 business days.

What's Prohibited? Why Your Quotex Account May Be Banned

It’s necessary to understand Quotex’s policies so that you can avoid violations that can cause account restrictions or bans. Here are some of the ways to comply with the trading rules:

• Account Verification. You have to submit personal details and valid identification as part of the identity verification process. This verification must be completed before you can fully trade, deposit, and withdraw funds from the platform.
• Third-Party Payment Methods. All deposits and withdrawals must be made using payment accounts registered in your name. Using someone else’s bank card, wallet, or account is not allowed and may result in transaction rejection or further verification checks.
• Inactivity and Zero Balance. If your account remains inactive and has no balance for six consecutive months, Quotex may close it.
• Trading Rules. You must carry out trades using only your personal funds. Do not use automated bots or trade manipulation, as these fraudulent activities are prohibited. Using the platform for unlawful purposes, fraud, or any activity that violates local regulations may result in permanent account closure.
• Employed by a Municipality. You must not be a state (municipal) employee or a state (municipal) institution employee.
• Links to a Politician. You must not be a politician, a family member, or a relative of a politician. Generally, you shouldn’t have any connection with a politically significant person.
• Resident of Certain Regions. There are certain regions Quotex doesn’t allow, and if you are a resident of such regions, you can be banned. These regions are:

US Territories, including

• American Samoa
• Northern Mariana Islands
• Puerto Rico
• US Virgin Islands
• US Outlying Islands

Europe, including

• Andorra
• Austria
• Belgium
• Bulgaria
• Croatia
• Cyprus
• Czech Republic
• Denmark
• Estonia
• Finland
• France
• Germany
• Greece
• Hungary
• Ireland
• Italy
• Luxembourg
• Malta
• Netherlands
• Norway
• Poland
• Portugal
• Romania
• Russia
• San Marino
• Sweden
• Switzerland
• United Kingdom

Asia

• Afghanistan
• China
• Hong Kong
• Iran
• Iraq
• Israel
• Japan
• Lebanon
• Myanmar
• North Korea
• Singapore

Oceania

• Australia
• New Zealand

Africa, including

• Guinea Bissau
• Libya
• Mali
• South Sudan
• Sudan
• Democratic Republic of Congo

Caribbean & Latin America

• British Virgin Islands
• Caribbean Netherlands
• Cuba
• Haiti
• Honduras
• Nicaragua
• Confidentiality. You must maintain confidentiality of physical, technical, financial, economic, and other internal information of Quotex. Such information must not be disclosed to third parties.

Quotex: Pros and Cons of Trading

Pros:

• User-Friendly Interface: Beginners and expert traders will find the platform appealing because of its easy-to-use interface.
• Low Minimum Investment: It’s perfect for those with limited capital since you can start trading with just $10.

• No Deposit/Withdrawal Fees: Traders can deposit and withdraw money without paying any extra fees.

Cons:

• Lack of Regulation: For certain traders, the lack of oversight from important regulatory organizations may raise concerns.
• Geographical Restrictions: The platform's accessibility is limited since some countries restrict their residents from using it.
• Inherent Trading Risks: Like any options trading, inherent trading risks are high and might not be suited for every investor.

Quotex FAQ: Most Asked Questions

Is Quotex Legal and How Secure Is It?

Although Quotex is not controlled or regulated by any regulatory body, it follows strict global regulations, ensuring the safety of client information. Quotes is safe, but you should always be cautious with online trading.

Which Countries Does Quotex Support?

Quotex supports all countries except EEA countries, Russia, Israel, Indonesia, and Hong Kong.

What Documents Are Required For Identity Verification?

Required identity verification documents include a national ID card, residence permit, and driver’s license.

What Deposit Methods Are Available On Quotex?

Visa, Mastercard, local debit cards, bank transfers, and cryptocurrencies are among the presented options.

What Is The Minimum And Maximum Trade Amount?

The minimum trade amount is $1 and the maximum trade amount is $3,000.

What Is The Difference Between The Mobile App And The Web Version?

The main difference is the icon interface layout.

Can I Withdraw Bonus Money From Quotex?

No, bonus money can only be used for further trading on the app.