Quotex Countries List: Where is it Banned & Is it Safe?

Is Quotex Safe to Use?

With the scandals of suspicious trading platforms constantly repeating, a lot of traders are hesitant about investing in new or unregulated brokers. Yet, Quotex is a long-time player in the industry and has taken various security steps to make sure your funds are safe. We will now discuss the reasons why it is widely considered to be a secure platform:

Customer Reviews

One of the most reliable ways to ascertain the trustworthiness of a broker is to listen to the traders' opinions. I came across several pieces of feedback on Quotex accounts on various forums, and the overall sentiment was extremely positive.

Apart from a couple of complaints about the time taken for withdrawals to some local banks, no one indicated that they lost their trading profits or funds on the platform.

On Trustpilot, Md Al Ahasan Romman, a trading expert, states: "I've been trading here for over a month and it's been a great experience. People have been talking about its good transactions for years, and I'm happy after using it."

Quotex Regulated: The 2026 Reality, Is Quotex Legal?

The regulatory status of Quotex is a point of debate amongst many options brokers since most of them are not under the supervision of a top-tier regulatory authority.

It should be noted that the regulatory status of Quotex does not include the SEC or FCA, but it is running with the Awesomo Ltd brand. Quotex legally operates under the jurisdiction of the Seychelles Financial Services Authority (FSA).

The FSA has drastically increased its trading requirements in 2026. Now, Quotex is required to follow stricter local financial regulations, such as mandatory annual audits and having at least two full-time resident directors in the Seychelles.

As a result of this change, Quotex as a platform has become more transparent, which to a great extent functions as a security measure for retail traders. The FSA serves as a monitor of service and local laws, which means it is equipped with the authority to remove companies from its register that are unwilling to protect client funds.

Security Features & Money Management

Quotex has put in place many security measures that help to protect your money and, at the same time, minimize your financial loss:

256-Bit Encryption

The platform uses advanced SSL encryption technology to ensure that even if data gets stolen, it will be completely useless.

Two-Factor Authentication (2FA)

This adds another level of security for Quotex by asking for a code sent to your phone or email when logging in. It's the most effective method against unauthorized access attempts.

Strict KYC Policies

No one can evade the Know Your Customer procedures, not even Quotex. Before you can withdraw any sizable funds, you will have to give a bank statement or a government-issued identification document.

Quotex operates segregated accounts for the clients' funds as per the requirements of their regulatory license. Beginner retail traders, who are unsure whether trading really is for them, will be able to play around with a demo account that is loaded with $10, 000 in virtual money. By doing so, you get to try the very user-friendly platform without any exposure to financial risk whatsoever.

Quotex Banned Countries. Where Is Quotex Not Allowed?

Different nations have imposed legal limitations on binary options trading. Though the FSA supervises it, the United States, for instance, wants the provider to be locally regulated by an organization like the SEC or CFTC.

Here's a list of countries where Quotex is not available due to legal restrictions:

• Russia.
• France.
• Germany.
• Austria.
• Estonia.
• Canada.
• Norway.
• Cyprus.
• Iceland.
• Croatia.
• The Netherlands.
• The United Kingdom.
• Finland.
• Luxembourg.
• The United States.
• Malta.
• Latvia.
• Denmark.
• Greece,
• Ireland.
• Belgium.
• Czech Republic.
• Slovenia.
• Romania.
• Poland.
• Sweden.
• Spain.
• Portugal.
• Hong Kong.
• Indonesia.
• Lithuania.
• Russia.
• Liechtenstein

How to Get Around the Ban? (And Why You Shouldn't Access Quotex)

If Quotex is one of the banned binary options trading platforms in your region, you might be tempted to find a workaround, as many traders do.

Using a VPN

Most people use a VPN to get to the site when it is banned in their countries. Still, Quotex implemented cutting-edge VPN and detection AI by 2026, which can see through VPN use for those trying to skirt the legal consequences. If the system finds out that you are changing your IP addresses or hiding your location, it may flag your account as a "Suspicious Activity" account. In that case, your money in the account could be frozen permanently, which means you could end up losing your entire investment.

Using a Proxy Server

Several professional traders opt to use proxy servers to trade binary options to have a steady IP address. Yet, having a stable IP address doesn't mean you won't encounter the "KYC Wall" at some point as a trader. When you are requested to submit a bank statement or an ID for withdrawal purposes, that's when your actual location gets unmasked.

Risk Warning: The risks involved in going against the local laws while using Quotex usually exceed the benefits.

Rather, if they are authorized by your local regulators, consider regulated alternatives such as IQ Option, Olymp Trade, or Pocket Option.

Countries Where Quotex is Allowed

Despite being banned in the European Union and the US, Quotex can still be used in the majority of countries worldwide, including some countries where it is not known, like South Africa. The simple and user-friendly design of Quotex makes it a favorite among investors from India and South Africa.

Some of the countries where Quotex is allowed are:

• Brazil.
• Chile.
• Mexico.
• India.
• South Africa.
• Colombia.
• Peru.
• Malaysia.
• The Philippines.
• Turkey.
• Vietnam.
• Nigeria.
• Ukraine.
• Kenya.
• Thailand.
• Ghana.
• Cuba.
• Bhutan.
• United Arab Emirates.
• Morocco.

Besides, the platform has a user-friendly interface that makes it easier for traders to trade different types of forex, stocks, and other instruments in the markets. A minimum deposit of only $10 makes it still very much accessible for many traders who follow the legal Quotex route.

Final Words on Binary Options Trading

Binary options trading carries high risk. Many people have had a great time trading live on the platform, but I consistently recommend the tightest financial control. No matter if you are going into binary options trading on Quotex or learning about forex trading on Quotex, make sure that you are abiding by the financial laws of your country and the various trading platforms.

In case you are in a restricted zone, don't give up your whole investment for trying to bypass the rules for trading. You should rather look for licensed brokers who legally conform to the requirements of your particular area.