Quotex broker review and test – How good is the new trading platform?
Quotex is a 2020 binary options broker that provides market signals and simulates trading on a custom web platform. Our review explains how to start trading with Quotex, including deposit and withdrawal process, customer support and welcome bonus.
Quotex is a trademark of Awesomo Limited, a Seychelles-based company regulated by the International Financial Markets Regulatory Center (IFMRRC). The company was certified as a licensed broker in November 2020. Brokerage firms are working to integrate powerful tools with common digital options products.
Payment options are limited to cryptocurrencies for residents of the United States, Canada, Hong Kong or Germany, but sellers may open accounts in these regions.
What is behind Quotex.io? – Company overview:
Quotex is a trademark of Awesomo Limited, a Seychelles-based company regulated by the International Financial Markets Regulatory Center (IFMRRC). The company was certified as a licensed broker in November 2020. Brokerage firms are working to integrate powerful tools with common digital options products. Payment options are limited to cryptocurrencies for residents of the United States, Canada, Hong Kong or Germany, but sellers may open accounts in these regions.
What is Quotex? – Introduction to the platform
After registering for an account, customers can access the web platform and start trading. When going through the login portal, the user must:
Select an asset. Each tool displays a return on investment up to 98% if you win the trade.
Select start time – The time you can set in 1 second is 1 minute to 4 hours.
Enter the amount of your investment – Choose the amount of capital you want to invest in your market position. Choose “up” or “down” depending on the value of the asset going towards the end.
When you select an asset, the price list is displayed in real-time and traders can view the data on multiple charts in a 5 second to 1 day schedule. The Quotex platform has 9 indicators that you can customize to your liking. There are also 15 drawing tools to help with predictions
Customers can use copywriting techniques and copy successful sellers with one click. The platform’s interface also shows a list of the top 20 players of the day. The terminal offers more passive copy trading formats with market signals, analyst recommendations for assets, price guides and quantities that consumers can choose from.
Note: The broker does not offer MT4 or MT5 platforms.
The Quotex.io team knows firsthand how good you are and then how smart you are. This is why the trading platform is user-friendly and suitable for professionals. The broker conveniently organizes the most important and efficient trading material, the practical function. As a result, they give their traders the best role in financial management. You can also customize it in your trading method.
- Quotex offers over 410 trading options for digital options.
- Currency-27 currency pairs, from big to exotic.
- Crypto-Coins from Litecoin, Bitcoin, Ripple, and Ethereum
- Indices-15 major stock exchanges including FTSE 100 and Dow Jones.
- Commodities-Gold, silver, oil, and other popular sources of energy and metals.
In our review, we were very pleased to see cryptocurrency being offered as an asset in digital options, although the market is still narrow compared to traditional online brokers.
Regulation and safety
This broker is licensed by the Quotex Center for International Financial Market Relations Regulation (IFMRRC). The agency’s regulations include compensation fund members who refund clients for breach of their license or failure to pay.
According to the website, Awesomo Limited, the company that owns and operates the website, is registered in Seychelles and regulated by the Center for International Financial Market Relations Regulation (IFMRRC).
However, this does not seem to be the case because the company is not registered with the Seychelles Monetary Authority (FSA), which regulates the activities of currency brokers. Second, the IFMRRC is a self-issuing body rather than a legal financial oversight body, so the broker has no power to regulate operations. We do not recommend dealing with Seychelles brokers because the FSA regulations do not provide adequate protection for client funds.
How safe is Quotex?
Brokers in this jurisdiction must have at least $ 50,000 in capital which can deter scammers as they do not invest too much money to appear legitimate. However, the broker can use this capital which is basically paid for the day to day activities and the client’s money is not separated from the broker.
These differences between client funds and broker funds are found in some well-established jurisdictions, such as the United States, the European Union, and the United Kingdom. Also, other measures include negative balance sheet protection, regular transaction reports and regular internal and external audits. The required amount in the form of initial capital is also much higher. In the US it is 20 million and in the EU and UK it is 30 730,000. If you want to do business with an EU broker or a UK account, you can be sure that there are rewards funds and systems available to compensate your broker in the event of bankruptcy.
UK brokers, regulated by the FCA and participating in local compensation services for financial services, can offer customers up to £ 85,000 in bankruptcy compensation. EU brokers must participate and investors must contribute to local funds to compensate, paying up to 20,000 euros per person.
As you can see, these are great trading terms as brokers in offshore Seychelles are unparalleled.
- Quotex is not regulated by an official financial authority.
Quotex only offers one trading account. Consumers have full access to digital optional products, customer support, and promotions. Accounts are available in US Dollars, Euros, Rubles, Ukrainian Hryvnia and Brazilian Real. Getting started using an account is quick and easy, but in our review, we want to test the level of account so that experienced traders can use add-ons in exchange for high volume.
Traders can start with a deposit of at least 10. Customers can deposit money using a bank card, cryptocurrency, or electronic payment system, and the company does not charge a fee for depositing or withdrawing.
The minimum withdrawal amount is also $ 10, but for Bitcoin, it is $ 50. Generally, no further verification is required, but companies may ask for larger transactions. Withdrawal period is 1 to 5 days. However, the company will try to pay on the day of submission of the withdrawal request.
The percentage of revenue associated with each product is determined by Quotex and depends on factors such as liquidity of assets and distribution of trade and economic events. For example, the EUR / USD exchange rate is currently offered at 80%, so a customer who invests $ 1,000 and accurately estimates the price movement over a period of time will receive $ 1,800 in this transaction. We’re glad to hear from the review that Quotex also doesn’t charge a deposit and withdrawal charges.
Quotex does not currently offer leveraged investments. This may limit market access for some newcomers, but it can also reduce losses.
Quotex Social networks
- Facebook account: https://www.facebook.com/quotexio/
- Twitter account: https://twitter.com/quotex_platform
- Instagram: https://www.instagram.com/quotex_io/
The broker currently offers a mobile app for Android devices only. However, their web platform can be accessed from any browser, including mobile phones. The iOS mobile app is under development. Customers can track the market and run the business with just a few cranes. In addition, Quotex will launch more mobile apps in the future.
Demo account trading – Quotex offers a free demo account
The broker is offering a $ 10,000 demo account to practice using web platforms and digital options products. Display account holders have access to a wide variety of assets, trading instruments, signals and indices. For new customers to digital options, a trial account is a great way to see how a generic product works.
It takes practice to be an experienced and skilled binary options trader. And if you link all the features of the interface to your demo account, you have a great opportunity to improve. Whether you bought it before or not is still valid. The demo account helps you to study all the features of the platform, understand the basics of trading, practice buying digital options, test different methods and techniques or evaluate your insights.
The demo account is completely free and offers a virtual deposit for training. In case of scarcity, you can raise funds directly without restriction. And if you think you are ready to start trading with an original account, the registration process is easy and the minimum deposit amount is $ 10.
Deposit and withdrawal – Ist it safe or not?
The method of raising and withdrawing funds is undoubtedly one of the most important issues for every broker. The company does not charge any fees and offers a variety of trading methods. In general, it depends on the country of origin, but it can generally be divided into three groups: bank card and electronic payment system and cryptocurrency. The withdrawal of the account is done in the same way as the deposit based on the previously chosen trading method.
It takes 1 to 5 days to withdraw money from Quotex and ID may be required. The minimum deposit and withdrawal amount of Quotex Broker on the platform is five dollars. According to verified traders, you can withdraw cash without any problem.
Deposits and withdrawal of funds can be made through one of the several ways shown below:
- Visa / Master Card / Maestro Debit Card;
- Electronic payment like Advcash and Perfect Money;
- Crypto coins including Bitcoin, Litecoin, Ethereum, Ripple, Zcash, and USD Tether.
Support and service
It is safe to say that our support team demanded special mention. All support staff support their work. With a 24/7 lightning-fast multilingual response and a sincere desire to help us, we’re on our way to an alternative platform. They will try their best to make you comfortable. Unfortunately, support and service aren’t their best because phone support and live chat are missing.
Conclusion on our Quotex review: New broker with potential – It is not a scam
The Quotex.io platform offers a variety of trading assets, financial indicators and tools and charting combinations to show excellent results. Quick updates on quotes, team support, bonuses and more. Summarizing all the benefits of an efficient and user-friendly environment for all users, Quotex.io has created a complete platform for the principles of enjoying the trading process.
Traders can enjoy the following benefits
- Positive feedback mainly from early traders
- User-friendly and fast trading platform without freezing and delay
- Minimum transaction size ($1), deposit ($5), and withdrawal ($5)
- Highest and highest average profitability of binary options for currency pairs
- Various chart periods (14) and trading indicators (24)
- Free unlimited demo account
- No commission on deposit and withdrawal
- 24/7 trading (weekend OTC)
- A maximum of eighty percent of bonuses with training opportunities
- Your own internet platform with a user-friendly interface.
- Low minimum deposit and no withdrawal fees
- Copy-trading function
- No leverage was provided
- Limited deposit and withdrawal methods in some countries
Frequently asked questions:
Where is Quotex controlled?
Quotex is regulated by the International Financial Markets Regulatory Center (IFMRRC). This monetary authority allows traders to access compensation funds if the broker is unable to pay their income.
Which platform does Quotex use?
This broker has its own trading platform which provides a convenient operating experience. These include craft copying, signal services, indicators and other useful tools.
Does Quotex offer a demo account?
Customers have access to a $ 10,000 demo account. This environment allows users to practice digital options trading and become familiar with the interface before investing real money.
What is the minimum deposit amount for Quotex?
Customers can start Quotex trading with an investment of at least $ 10. Traders can deposit in multiple currencies depending on the criteria by which the account is opened.
How do I withdraw money from my Quotex account?
Investors may request to withdraw Bitcoin to their online account for a minimum cost of $ 10 or $ 50. The withdrawal period is 1-5 days, and the money is refunded through deposit method.