Quotex Review 2023
- DayTrading Review Team
Quotex is ideal for traders looking for a good range of digital options with high payouts and trading signals.
Quotex is an offshore broker specializing in binary options across 400+ assets. Founded in 2019, the broker is popular for its user-friendly web platform and competitive payouts up to 98%. New traders can also claim a welcome deposit bonus.
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Binary Options Trading
Quotex offers short-term binary options on a decent range of financial markets with market signals to inform trading decisions. Users can bet on rising and falling prices with up/down binaries that span 5 seconds to 4 hours.
Over 20 forex pairs are available via digital options. Payouts are decent and climb to 82% on the EUR/USD. Go up or down on popular currencies, including all the majors.
Quotex offers a good variety of OTC equities, with minimum trade sizes from $1. You can also trade digital options on 10+ major indices, including the FSTE 100.
Trade a handful of the top cryptos at Quotex with up/down binaries. Popular tokens including Bitcoin, Litecoin and Ethereum are available and traders can use the web-friendly platform or mobile app.
- Own brand online platform with easy-to-use interface
- $10 minimum deposit and no withdrawal fees
- Global access in different languages
- Unlimited trading signals
- 30% deposit bonus
- Crypto payments
- 98% payouts
- No copy trading
- Leverage not offered
- Unregulated brokerage
- Only one account type
Quotex is a binary options broker, established in 2019, that offers market signals on its bespoke web platform. Our 2023 review explains how to start trading with Quotex, including deposits and withdrawal fees, customer support and welcome bonuses. Find out if you should sign up and start investing today.
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Quotex is a brand name of Awesomo Ltd, a company based in the Seychelles.
The firm seeks to combine powerful tools with straightforward digital options products. As such, it offers a convenient user interface, trading signals, indicators and fast processing speeds.
New traders can get started with a $10 minimum deposit and a joining bonus. Alternatively, there is a free demo account with $10,000 in virtual funds.
Clients can use straightforward up/down binary options to speculate on stocks, currencies, commodities, and cryptos.
Clients can reach the web-based Quotex platform and start trading after account registration.
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 web 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.
The platform interface also displays a leaderboard with the top 20 earners for that day. In addition, the terminal includes unlimited market signals, which are analysts’ recommendations about an asset, price direction, and duration, that users may choose to act on, offering a more manual form of binary options copy trading.
Overall, clients will favor the high levels of customization 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 market opening and closing prices plus position entry and exit prices available at a glance.
How To Trade
Once signed up and through the login portal, users simply need to:
- Choose an asset – each instrument displays a percentage return on investment if you win the trade, up to 98%
- Select an expiration time – times between five seconds and four hours are available and can be fine-tuned to the second
- Input investment amount – choose how much capital you want to put behind your market position
- Pick ‘Up’ or ‘Down’ – depending on which direction you believe the asset price will move by the expiry
Markets & Assets
Quotex offers over 410 assets for digital options trading:
- Stocks – a variety in the shape of OTC equities, including Facebook and Microsoft
- Currencies – 20+ forex pairs, from majors to exotics, including EUR/USD
- Cryptos – Litecoin, Bitcoin, Ripple, and Ethereum digital currency tokens
- Indices – 10+ leading exchanges including the FTSE 100 and Dow Jones 30
- Commodities – gold, silver and oil, plus other popular energies and metals
While using Quotex, we were particularly pleased to see cryptocurrency offered, though the range of markets is still narrow compared to traditional online brokers.
Payouts & 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. The maximum payout is 98%.
As an example, EUR/USD was offered at 82% at the time of writing, so a client that invested $1,000 and correctly predicted the price movement over the chosen time period would receive $1,820 in that trade. If their prediction was incorrect they would have lost their $1,000 stake.
Typical payouts on gold and silver are 88%. Payoffs on stocks like Pfizer and Intel are around 90%.
Quotex does not charge commissions on trading operations.
The minimum trade size is $1.
Quotex does not currently offer leverage trading. Whilst this may limit market access for some beginners, it can also curtail losses.
Quotex Mobile App
The broker offers one app available to download on Google Play and the Apple App Store. Their web-based platform can also be accessed using any browser, including on a mobile phone.
Clients can monitor the markets and execute trades with a few taps. Quotex’s interactive charts, indicators and drawing tools are also available, alongside the full list of 400+ underlying assets.
Our experts also found that the broker’s live trading signals were available on mobile.
Deposits & Withdrawals
Traders can get started with a low minimum deposit of $10.
Clients have the option of bank cards (Visa and Mastercard), cryptocurrencies, 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, UK 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 $10, but for Bitcoin it is $50. Usually, additional verification is not required, but the company may request it for high-value transactions.
Withdrawals are processed within three days. With that said, the firm endeavors to make payments on the same day that the withdrawal application is made.
Demo Account Review
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 trading product works.
To get started with the Quotex paper trading account simply select ‘open demo account’ on the broker’s homepage. This will take you straight through to the demo trading platform.
Bonuses & Deals
While using Quotex, we found a 30% deposit bonus available when you deposit $100 or more. This is a generous incentive and a good way to boost trading capital.
A series of other promotions are also available from time to time. These have included 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 investing.
Regulation & Licensing
The firm was certified as a licensed broker in November 2020 by the International Financial Market Relations Regulation Centre (IFMRRC), but let its registration expire in 2021. This means the company is currently unregulated.
We always recommend caution when trading with unregulated brokers as clients have limited recourse options in the event of disputes.
Quotex offers one straightforward live account with a minimum deposit of $10, though accounts can be opened in different currencies. Accepted base currencies include US Dollars, Euros, Russian Rubles, Ukrainian Hryvnias, and Brazilian Reals.
All investors get full access to digital options products and customer support.
How To Open A Live Account
Our experts found the registration process hassle-free and new joiners can get up and running in a few minutes:
- Follow the ‘Visit’ link at the top of this Quotex review
- Select ‘Sign Up’
- Enter personal details, including name, email, date of birth
- Verify your profile using the email link sent to your account
Quotex also offers a useful analytics dashboard for account holders.
Users can view their number of trades, profit, profit percentage, net turnover, and other metrics. This is a particularly useful tool for beginners, allowing traders to monitor their progress and identify areas for improvement in their strategy or setup. The broker also offers insights into what other traders are speculating on and their results.
Investors can use the broker’s website and access the platform at all times. However, assets can only be traded during market opening hours. Forex, for example, runs Monday through to Friday. Cryptocurrencies are available 24/7.
Open the broker’s trading terminal for details across each asset.
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 email@example.com.
Note, the broker’s registered address is Maxbit LLC: First Floor, First St Vincent Bank LTD Building, James Street, Kingstown, St. Vincent and Grenadines.
Security & Safety
The company maintains high-security standards and uses specialized technologies to safeguard client information. The broker does not sell or otherwise disclose personal data to third parties.
Payments have SSL encryption, are 3D secure active and use a code when transferring with Mastercard.
Quotex is an unusual digital options broker with an easy-to-use web-based platform that offers live signals. The brokerage has a low minimum deposit, zero withdrawal fees, and an attractive 30% sign-up bonus. Many beginners interested in digital options will be satisfied by the asset range and simplicity of the interface.
Where Is Quotex Regulated?
Quotex is not currently regulated. Their IFMRRC registration expired in 2021.
What Platform Does Quotex Use?
This broker has its own brand platform that offers a user-friendly execution experience. It includes a signals service, technical indicators and other useful tools. A free mobile app is also available.
Does Quotex Offer A Demo Account?
Clients can access a demo account funded with $10,000. This environment allows users to practise trading binary 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. Withdrawals take three business days and funds are returned using the original deposit method.
Quotex accepts traders from Australia, Thailand, South Africa, Singapore, India, Norway, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Quotex from United States, Canada, Hong Kong, Russian Federation, United Kingdom, Germany, France, Portugal, Spain, Italy, Cyprus, Sweden.
- Credit Card
- Perfect Money
- Bitcoin Payments
- Wire Transfer
- Ethereum Payments
- Doku Wallet
|Mobile Apps||iOS & Android|
|AI / Machine Learning||No|
|Negative Balance Protection||No|
|Guaranteed Stop Loss||No|
Forex Trading Details
Cryptocurrency Trading Details
|Crypto Auto Market Maker||No|
Binary Options Trading Details
|Expiry Times||5 seconds – 4 hours|
Compare Quotex with similar brokers that accept traders from your location. Among available brokers these are the most similar to Quotex:
World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
Go to World Forex
Pocket Option – Founded in 2017, Pocket Option is a binary options broker offering up/down contracts on forex, stocks and cryptocurrencies. With over 100,000 active users and a global reach, the brand has proven popular with budding traders. Pocket Option also supports dozens of payment methods and has a low minimum trade of just $1.
Go to Pocket Option
Videforex – Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
Go to Videforex
Quotex Comparison Table
|Quotex||World Forex||Pocket Option||Videforex|
|Markets||Digital Options, Stocks, Forex, Commodities, Cryptos||Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts||Binary Options, Currencies, Commodities, Stocks, Indices||Binary Options, CFDs, Forex, Indices, Commodities, Crypto|
|Minimum Trade||$1||0.01 Lots||$1||$0.01|
|Bonus||30% Deposit Bonus||100% Deposit Bonus||50% Deposit Bonus||20% to 200% Deposit Bonus|
Compare Trading Instruments
Compare the markets and instruments offered by Quotex and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
|Quotex||World Forex||Pocket Option||Videforex|
|Expiry Times||5 seconds – 4 hours||1 minute – 7 days||5 seconds – 4 hours||5 seconds – 1 month|
Quotex vs Other Brokers
Compare Quotex with any other broker by selecting the other broker below.
The most popular Quotex comparisons:
|Quotex is an offshore broker specializing in binary options across 400+ assets. Founded in 2019, the broker is popular for its user-friendly web platform and competitive payouts up to 98%. New traders can also claim a welcome deposit bonus.|