Quotex Review 2021

Flag Traders in United States welcome
Quotex Facts & Figures

Quotex offers a proprietary web platform that offers digital options and copy trading.

BonusTiered deposit bonuses up to $105
InstrumentsDigital options, forex, indices, cryptos
Demo AccountYes
Min. Deposit$10
Payment MethodsBitcoin Payments, Credit Card, Mastercard, Neteller, Perfect Money, QIWI, Skrill, UnionPay, Visa, Webmoney
Min. Trade$1
Regulated ByIFMRRC
MetaTrader 4No
MetaTrader 5No
cTraderNo
STP AccountNo
ECN AccountNo
DMA AccountNo
Mobile AppsNo
Margin TradingNo
Auto TradingNo
Social TradingNo
Copy TradingYes
Trade SignalsYes
Islamic AccountNo
Forex

Use digital options to take straightforward buy and sell positions on a range of currencies.

GBPUSD SpreadN/A
EURUSD SpreadN/A
EURGBP SpreadN/A
Assets27
Cryptocurrency

Trade a handful of the top cryptos at Quotex.

SpreadN/A
CoinsBTC, LTC, ETH, XRP
Binary Options

Quotex offers online binary options on a range of markets with a welcome bonus for new traders.

Payout Percent
Risk Warning – Your capital is at risk

Quotex is a binary options broker, founded in 2020, that offers market signals and copy trading on its bespoke web platform. Our review explains how to start trading with Quotex, including deposits and withdrawal fees, customer support and welcome bonuses. Sign up and start trading today.

Quotex Details

Quotex is a brand name of Awesomo Ltd, a company based in the Seychelles that is regulated by the International Financial Market Relations Regulation Centre (IFMRRC). The firm was certified as a licensed broker in November 2020. The brokerage seeks to combine powerful tools with straightforward digital options products.

Payment options for residents of the USA, Canada, Hong Kong, or Germany are limited to cryptocurrency, but traders can open accounts from those regions..

Trading Platform

Clients can reach the web-based platform and start trading after account registration. Once signed up and through the login portal, users simply need to:

  1. Choose an asset – each instrument displays a percentage return on investment if you win the trade, up to 98%
  2. Select an expiration time – times between one minute and four hours are available, and can be fine-tuned to the second
  3. Input investment amount – choose how much capital you want to put behind your market position
  4. Pick ‘Up’ or ‘Down’ – depending on which direction you believe the asset price will move by the expiry
Quotex online trading
Quotex online trading

Selecting an asset displays its live price chart, and traders can view the data in multiple graphs in timeframes from five seconds to a day. The Quotex platform has nine indicators that can be refined according to preference. 15 drawing tools are also available to help inform projections. To keep the display clean, users can hide the indicator name or additional details without losing their mark-up on charts.

Clients can utilise copy trading and duplicate the strategies of successful traders in a single click. The platform interface also displays a leaderboard with the top 20 earners for that day.

Quotex trading platform
Quotex web trading platform

The terminal also includes unlimited market signals, which are analyst recommendations about an asset, price direction, and duration that users may choose to act on, offering a more manual form of copy trading.

In addition, clients will favour the high levels of customisation offered. Traders can set their username, upload a profile photo and change the background image of their charts. The switch time and investment type can also be tweaked in a few simple clicks. Finally, the broker has introduced a quick detailed view on trades, with key information on opening and closing prices plus entry and exit prices available at a glance.

Note, the broker does not offer the MT4 or MT5 platforms.

Markets

Quotex offers over 410 assets for digital options trading:

Our review was glad to see cryptocurrency offered as a digital options asset, though the range of markets is still narrow compared to more traditional online brokers.

Fees

The profit percentage associated with each instrument is set by Quotex and varies depending on factors like the liquidity of the asset, time of trade execution, and economic events.

For example, EUR/USD is currently offered at 80%, so a client that invested $1,000 and correctly predicted the price movement over the chosen time period would receive $1,800 in that trade.

Quotex does not charge commissions on trading operations.

Leverage

Quotex does not currently offer leveraged investing. Whilst this may limit market access for some beginners, it can also curtail losses.

Mobile Apps

The broker does not offer a mobile app at present. However, their web-based platform can be accessed using any browser including on a mobile phone. Clients can monitor the markets and execute trades with a few taps. We also expect that Quotex may roll out a mobile app in the future.

Quotex mobile trading signals
Quotex trading signals

Deposits & Withdrawals

Traders can get started with a low minimum deposit of $10. Clients have the option of bank cards (Visa and Mastercard), cryptocurrency, internet banking, or e-wallets to deposit funds, and the firm does not charge fees for deposits or withdrawals. It is worth noting that payment options vary by country. For example, US clients can deposit funds using Bitcoin, Litecoin and Ethereum while Indian traders can use a number of local banks, plus popular e-wallets like Perfect Money, in addition to cryptos. Head to the broker’s website for a full breakdown of individual payment options in your jurisdiction.

The minimum withdrawal amount is also $10, but for Bitcoin it’s $50. Usually additional verification is not required, but the company may request it for high-value transactions.

Withdrawal times range from 1 to 5 days. With that said, the firm endeavours to make payments on the same day that the withdrawal application is made.

Demo Account

The broker offers a demo account funded with $10,000 to practice using the web platform and digital options products. Demo account holders have access to a range of assets, trading tools, signals, and indicators. For clients new to digital options, the trial account is an excellent way to see how the straightforward product works.

Bonuses & Deals

Quotex offers tiered deposit bonuses depending on your capital outlay. For example, you can pick up a 20% bonus ($10) when you deposit more than $50, a 25% bonus ($25) when you deposit more than $100, a 30% bonus ($45) when you deposit upwards of $150, and a 35% bonus ($105) if you deposit north of $300. This is a generous incentive and a good way to boost trading capital.

A series of other ongoing promotions are also available to enhance the trading experience. These include incentives to reduce risk, cashback rewards, Cancel X points and balance bonuses. Promo codes are awarded to active traders and in line with firm-wide deals. See the Quotex website for the latest details and always check bonus terms and conditions before trading.

Regulation Review

Quotex has a license from the International Financial Market Relations Regulation Centre (IFMRRC). Regulation by this body includes membership to a compensation fund, which reimburses customers if the brokerage infringes on the license or cannot make payments.

Quotex Accounts

Quotex offers three straightforward live accounts: Standard, Pro and VIP. The standard account is aimed at beginners with a basic profitability percentage on all trades. The Pro solution was designed for more active traders, with increased profit percentages and attractive promotions. Traders will need to deposit $1,000 to qualify for the Pro account. For veteran traders, the VIP account offers enhanced profit percentages and a series of ongoing bonuses and deals. The minimum deposit for the VIP solution is $5,000.

Users get full access to digital options products and customer support across each account type. Accounts are offered in US Dollar, Euro, Rubles, Ukrainian Hryvnia, and Brazilian Reals. The registration process is hassle-free and new joiners can get up and running in a few minutes.

Benefits

Traders will appreciate the following advantages:

Drawbacks

Opening Hours

Traders can use the broker’s website and access the platform at all times. However, assets can only be traded during market opening hours and these depend on the specific instruments of interest. Forex, for example, runs Monday through to Friday. Open the broker’s trading terminal for more details.

Customer Support

Traders can contact support directly through the platform interface, by submitting a ticket or using the live chat option. Clients can also fill in an online form hosted on the firm’s website or email support@quotex.io.

Note, the broker’s registered address is Awesomo Limited, Republic of Seychelles, Mahe Island, Victoria City, Francis Rachel Street, Sound & Vision House, 2nd Floor, Office 1.

Security

The company maintains high security standards and uses specialised technologies to safeguard client information. The broker does not sell or otherwise disclose personal data to third parties.

Quotex Verdict

Quotex is an unusual digital options broker with an easy to use web-based platform that offers a signals service and copy trading. The brokerage has a low minimum deposit, zero withdrawal fees, and an attractive 40% sign-up bonus. Many traders interested in digital options will be satisfied by the asset range and simplicity of the interface.

Accepted Countries

Quotex accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Alternatives to Quotex

If you are looking for alternatives to Quotex we have compiled a list of the top 5 brokers that are similar to Quotex below. This list of brokers like Quotex is in order of similarity and only includes companies that accept traders from your location.

  1. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
  2. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
  3. Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
  4. Paxful – Paxful is a crypto trading exchange and digital wallet offering low fees and easy sign-up.
  5. Webull – Webull offers a leading online stock trading app with low fees and generous bonuses.

FAQ

Where is Quotex regulated?

Quotex is regulated by the International Financial Market Relations Regulation Centre (IFMRRC). With this financial body, traders have access to a compensation fund if the broker cannot pay out winnings.

What platform does Quotex use?

This broker has its own brand platform that offers a user-friendly execution experience. It includes copy trading functionality, a signals service, indicators, and other useful tools.

Does Quotex offer a demo account?

Clients can access a demo account funded with $10,000. This environment allows users to practice trading digital options and become familiar with the interface before investing real money.

What is the minimum deposit at Quotex?

Clients can start trading at Quotex with a low minimum investment of $10. Traders have the option of depositing in several currencies, depending on which base the account was opened in.

How do I withdraw from my Quotex account?

Investors can request a withdrawal using their online account, with a minimum value of $10 or $50 for Bitcoin. Withdrawal times are 1-5 days and funds are returned using the deposit method.

Quotex offers a proprietary web platform that offers digital options and copy trading.

Quotex vs Other Brokers

Compare Quotex with any other broker by selecting the other broker below.