Quotex Review

Overview

Quotex is an innovative trading platform with instant quote updates and an interface, 24/7 technical support, and no commissions.

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Details

Broker Quotex
Website URL quotex.com
Founded 2020
Headquarters Suite 1, Second Floor, Sound & Vision House, Francis Rachel Str., Victoria, Mahe, Seychelles
Support Types Email, Chat, Help Center, Tickets in personal account, Facebook, Twitter, Instagram
Languages English, Russian, Thai, Armenian, Deutsche, Spanish, 18 languages
Trading Platform Authoring platform
Minimum 1st Deposit 10 USD
Minimum Trade Amount 1 USD
Free Demo Account Open Demo
Account Types Demo, Real
Deposit Methods Debit cards, Credit cards, Perfect Money, VISA, Mastercard, Skrill, Neteller, Yandex.Money, Advcash, Webmoney, Cryptocurrencies, Yandex.Money, Bank transfer
Withdrawal Methods Debit cards, Credit cards, Perfect Money, VISA, Mastercard, Skrill, Neteller, Yandex.Money, Advcash, Webmoney, Cryptocurrencies, Yandex.Money, Bank transfer
Number of Assets 9
Types of Assets Currency pairs, Raw materials, Precious metals, Cryptocurrencies, Indexes
Account Currency USD, EUR, RUB, UAH, BTC, BRL
US Traders Allowed No
Overall Score 8.7/10

Full Review

Quotex was registered in the autumn of 2020. On the website, the year of the company foundation is claimed 2019, though. The performance area is the whole world. Any adult capable person can become its client. The main condition is to register one profile for one person.

The terms are simple and clear: get registered in one step and go on using the online terminal. You do not have to download anything. The declared amount of profit is up to 98% of the investment amount. Is the service provider being honest with the customers and pays all the time? Is Quotex binary options broker a scam or a serious project? Let’s try and find out relying on the available facts.

Quotex - is it a scam? Reviews

 

Quotex trading conditions

Customers can open 2 kinds of accounts:

  • Demo. Training with 10 000 conventional units on the balance sheet.
  • Trading. Real account that is necessary to replenish with your own funds.

The terminal is the same in both of the cases, the only difference is in the openness of the functionality: some options will be available after having deposited money. The latter one is opened in US dollars regardless of the initially suggested currency variations: euros, rubbles, hryvnia, reais and bitcoins. And then, in the personal account (the «Profile» section), one type of a conditional unit is exchanged into another.

Quotex trading conditions

The broker, as it has already been mentioned, specializes in digital options. No commissions are charged for the execution of transactions. The assets offered are currency pairs, cryptocurrencies, raw materials, precious metals (gold, silver) and indices. There are 80 of them overall, but some of them are allowed to trade after replenishing the balance and switching from demo to real trading. The minimal bet is 1 dollar. The expiration period is set manually by you and with almost no restrictions. Although Quotex does not allow to place less than 1 minute, so that the order will not turn into an obviously unprofitable one. There are no analytical and educational materials in the public domain on the website and in the personal account. The information on quotex.com is quite poor: only legal documentation, contacts and a knowledge base (FAQ).

Quotex FAQ

All the important issues are in your personal account: having registered, the trader vuses the bonus system, chats with the company representatives online or creates a ticket. Another way of supporting is emailing and social networking through the community administrators. Answers to the most common questions are provided in the knowledge base – FAQ. Trading signals are available (usually 5-6 active recommendations). And the asset rating is set taking into account the amount of profit received by users and is updated every day.

 

quotex.com platform

The company offers a terminal of its own design. It is a web-version of the platform adapted to work from devices on different OS, with different screen resolutions and from all major browsers. The terminal capabilities and options:

  • 4 types of charts (Heiken Ashi and others).
  • 14 timeframes.
  • 17 trend figures.
  • 9 indices and 15 oscillators.
  • The transactions history in quick access.
  • The marks for opening and closing an order directly on the chart.
  • A summary of the dynamics of the rate and profitability for each pair of assets.

Security is granted by KYC and AML protocols. For verification, an identity card and documents confirming registration (receipts, bank card statements, etc.) are provided.

Quotex Com quotes

A broker provides access to 27 currency pairs – combinations of euro, Australian, American, Canadian and New Zealand dollars, euro, Japanese yen, British pound sterling, Swiss franc. To 4 cryptocurrency units: Bitcoin, Ether, Ripple, Litecoin. 4 types of raw materials: oil (Brent, uscrude), gold, silver. And 45 indices. It is not stated on the website quotex.com where the quotes come from. It is also hard to verify them. It remains to rely on reviews.

quotex.com currency pairs

 

Quotex Demo account

In order to practice and learn about the peculiarities of the platform without putting your funds at risk, Quotex suggests opening a free demo account (demo) and download a demonstration version of the terminal (training in options trading). You will be provided with 10 000 c.u. to trade. The registration button is displayed on the home page. By clicking on it, you will confirm your wish to trade without any risks. And you will get to the platform. When you decide you are ready for real fund trading, you will be able to open a trading account.

Quotex Com demo account

 

Mobile application

Quotex.com does not possess a mobile application. Its platform exists only as a web version, although it is adopted to work with narrow-format devices. That is why, it is possible to use Quotex with your phone or tablet. You will only notice the difference in the layout of the formatting elements (design), but not in the functionality.

 

Bonuses in quotex.com

As for bonuses, Quotex offers not only a partnership program, but also cashback for deposits, a percentage of turnover, and promo codes with bonus units. Let’s get a detailed description of each variety.

Cashback for deposits

When depositing for the first time in the amount of more than 5000 rubles, you will receive 30% cashback. That is to be used for trading. And withdraw it if you meet the conditions of the promotion. Otherwise, the bonus funds (and the units earned with them) will be burnt. In the future, Quotex can send other promo codes – with a cashback on a deposit of 10 to 80%. Everything will depend on the specific offer.

quotex.com bonus

Promo codes

There is a kind of a fame hall in your personal account on the website quotex.com. It contains a list of bonus options that will be available if the platform administration provides you with the corresponding promo code. These can be:

  • «Trade cancellation» – refusal at any time if you did not hedge.
  • «A percentage of turnover» – accrual of interest for each opening.
  • «Cancellation of X points» – cancellation of a losing deal with a difference of several points.

Quotex Com promo codes

Quotex Com partnership program

Both private individuals and legal entities can become participants of the partnership program. The main idea is to attract new traders to the site quotex.com. A partner is able to gain up to 80% of the profit, which the company will receive due to their activities, or up to 7% of the general turnover from the people attracted. The order of operation is the following:

  • A partner registers their own personal account and sees their unique partner link in it.
  • The link is placed in any resource where it is not prohibited by the law or does not violate the users’ rights.
  • Every click on the link to quotex.com is recorded by the system and reflected in the LC statistics.

If the transferred user has replenished the stock of funds and started trading, the partner receives a reward (the rate that we have mentioned earlier).

 

Deposit and withdrawal

The «Rules of Non-trading operations» has been published on the site quotex.com. This document states the conditions of replenishment and withdrawal of funds. In accordance with its provisions, the following kinds of calculation are available:

  • Bank cards VISA, MasterCard.
  • E-wallets like Neteller, Skrill, and Yandex.Money, AdvCash, etc. (the list depends on the user’s region of residence).
  • Bank transaction.
  • Crypto wallets (LTC, ETH, BTC, Zcash, USDT, Ripple, Coinbase).

Since trading is carried out in dollars, conversion for Russian residents is an inevitable procedure. The service provider exchanges the units at the internal exchange rate. And additionally, notes that payment agents, in their turn, can also convert currency, but on their own terms. The owner of the account has to pay for all the fees. It is possible to link your card to the account with the help of the 1-Click option. That is done on the stage of making a payment by putting a tick next to the corresponding point.

quotex.com withdrawal

The minimum deposit/payment amount is 10 dollars. In case the fiat is withdrawn in crypto currency, the lower limit is 50 USD. Although the regulations also prescribe the right of the administration to set limits for you at its discretion. You send an application from your personal account, and it is processed within 7 days by the technical support (in case of any technical problems or suspected fraud, the period may be extended). Pay attention to the fact that it is necessary to select the same methods of input and output: if you have deposited the units from the card, you will have to output them to it, as well. After receiving the administration approval, the payment itself should take 1 to 5 days.

 

Complaints about Quotex

Quotex has received very good reviews about itself both on international reviewers with a reputation and among reviewers. The company’s rating does not descend lower than 4 points out of 5. Traders note the convenience and functionality of the platform, quick execution of transactions and amiable support. The fact that a young broker (it has been on the market for less than a year) has received several hundreds of reviews about itself seems a little suspicious, but does not give a serious reason to suspect of deception.

Quotex traders reviews

If we find complaints about Quotex, we will post it on social media. Follow us to be well informed:

 

quotex.com regulator

The legal name of the organization is Awesomo Limited. It is registered in the Seychelles. The registration number is 221042. There are no open databases where this could be verified. The company got a certificate of conformity from the Center for Regulation of Relations in Financial Markets (CROFR) in 2020. It is valid till 09.11.2021 the regulator is a non-commercial organization that certifies exclusively Russian representatives of the financial market. It does not put forward strict requirements for brokerage companies: at least 2 years of work in the market, 2500+ open accounts, 5000+ registered clients and representative offices in different regions. The presence of regulation by other organizations is only desirable. Therefore, experienced traders and industry experts do not have serious trust in the CFRM. Verification of a conformity certificate Quotex on the CFRM site

Quotex Com user agreement

The quotex.com user agreement, «Agreement (offer) for the provision of services», is in the public domain. It is possible to get acquainted with the document before the registration. To make it easier for you, we have designed its main provisions. For instance, you might be denied registration without naming the reason. It is stated in clause 2.3.

Quotex refusal to register

You warrant that you are not a government official or affiliated with politics. It is necessary to provide reliable information about yourself (clause 4.4). And perform all trading operations personally and from your account details (clause 4.5).

Quotex providing reliable information

It is prohibited to disclose any inside information obtained as the result of using the platform. And use it to inflict damage on the latter. Such a wording might even mean a ban on posting reviews using correspondence with support or screenshots from the account. The agreement with you can be terminated for incorrect behavior towards Quotex representatives. Even if the company or its partners will gain profit from the transaction carried out by you, they can act at their discretion and not warn you about their actions (clause 4.20).

quotex.com termination of the contract

You should keep all the information presented during the registration up-to-date. Any changes should be written to support within 3 days from the date of alterations. Any of your applications has the right not to be executed. It is not obligatory to explain the reasons and notify you in advance (clause 5.11).

Quotex keeping customer data up to date

Quotex is not responsible for the information posted on the website or in the application. Even if it caused losses. The latter must check the veracity of the data himself. All legal issues between the company and individuals are resolved on the basis of the legislation of the Seychelles. If a claim arises, it must be sent no later than 5 days from the date it says (clause 9.2).

Quotex resolution of claims against the broker

There are strict requirements for filing a claim: links to the circumstances of the case and the conditions to which the trader refers, evidence, etc. The broker may not accept a claim containing insults, profanity, disrespectful statements, as well as theses devoid of argumentation. The company can make changes to the agreement which come into force even if they were not warned about them in advance (clause 12.1).

Quotex making changes to the agreement

 

Is Quotex a scam?

Quotex is a young representative of the industry. Regardless of the year 2019 stated on the site, the company received the official certificate only at the end of 2020. The reviews about the market representative are good: their authors note fast execution of the transactions, the decency of the support service and the absence of problems with payments. However, the user agreement cannot please with loyalty to the trader. There are many points in it that shackle client’s hand and foot.

Thus, the broker has the right to decline any application without explaining the reasons. And if they decide that the trader was behaving incorrectly, they can even block the account altogether without compensating the funds on it. Claims regarding transactions must be submitted within 5 days after the incident, and there are many conditions in them. To a person who does not know the legal intricacies, all this may seem very difficult. Not to mention the fact that the issues are resolved on the basis of the Seychelles legislation, which Russian people do not know well. It cannot be categorically stated that quotex.com is a scam. But we still recommend that you should take a closer look at the platform and start working with it with small amounts.

 

Conclusion

Quotex offers digital options trading. That means being more likely to get a profit for a trader. The main thing is to understand in which direction the chart will move, and not to what point it will reach. The minimum deposit is only 10 dollars (300 rubles). It is even possible to trade in rubles: the currency is configured in the profile. There is a training account, which will help to study the platform and hone your skills without investing personal funds. The broker has not been in the market for a long time, but there are plenty of positive reviews about it. Including international platforms with a good trust index.

But the legal documents that the service provider is guided by cannot be thought as loyal. The company ensures its safety by setting such strict restrictions that at any time it will find a reason to stop working with a trader, keeping their money to itself. And this is a big disadvantage. The CROFR certificate of conformity also does not inspire confidence: the regulator does not put forward strict requirements for applicants and there are no examples when it protected the rights of the consumers, not the service providers.

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