Quotex Review 2025
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Updated:
Reason to avoid: Offshore
Listed Date: September 1, 2023
Top 3 Forex Brokers
Beware Quotex is a Non-Regulated Broker. It is NOT SAFE to trade
Advertising Disclosure
Updated:
Reason to avoid: Offshore
Listed Date: September 1, 2023
Beware Quotex is a Non-Regulated Broker. It is NOT SAFE to trade
No, it is not safe to start trading with Quotex, there is high risk Quotex is scam or not safe enough Broker to invest with. The entity responsible for the Quotex website, Maxbit LLC, is officially registered in St. Vincent and the Grenadines, which is considered an offshore jurisdiction known for its lenient tax regulations and almost no regulations towards Forex brokers.
🏢 Registered in | Saint Vincent and the Grenadines |
🗺️ Type of License | Offshore |
🛡️ Is Quotex safe to trade? | No |
🗺️ Recommended Licenses | FCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺 |
🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
Quotex, founded in 2019, is a brokerage firm that specializes in the field of binary options trading. The firm offers its clients the opportunity to engage in trading activities involving currencies, metals, oil, cryptocurrencies, and stock indices. The broker provides favorable conditions for its clients, offering a low minimum deposit ($10), a variety of available currencies (USD, EUR, GBP, BRL, IDR, MYR, INR, KZT, RUB, THB, UAH, VND), a Demo account and 24/7 customer support.
The broker seems to be gaining more clients daily and earning a significant volume of interest. However, upon detailed research, we were able to reveal a number of red flags that make us see Quotex in a different light.
Here are the main points we would like clients to consider before signing with the broker:
Drawing upon our Expert Opinion, substantiated by over a decade of hands-on experience in Forex Trading, we have revealed noteworthy concerns regarding Quotex’s regulatory framework and overall reliability. Consequently, we find ourselves unable to give a positive ranking to Quotex.
Ranking | Quotex | XM | FP Markets |
---|---|---|---|
Our Ranking | ⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
Is Broker safe? | No | Yes | Yes |
Advantages | None | Trading Conditions | Trading environment |
In light of the substantial safety concerns associated with Quotex, we strongly advise exploring better alternatives that prioritize stringent regulations and offer good trading conditions. Below, we present a list of reputable brokers with reliable options and safe conditions for your comparison:
With Quotex traders can fund their accounts through a range of methods, including credit cards, e-wallets, and cryptocurrencies. The minimum deposit is $10, with no additional fees applied for deposit transactions.
Quotex presents a range of account types including Demo, Standard, Pro, and VIP, each featuring distinct minimum deposit requirements (starting from $10 ), tradable assets, and account currencies. All in all, the Demo account caters to all, the Standard account is tailored for beginners, the Pro account is more suitable for professional traders, and the VIP account is intended for seasoned traders engaged in full-time trading.
Based on the comprehensive information collected about Quotex, significant concerns arise regarding the broker’s reliability and credibility, so we do not recommend Quotex for trading or investing. The fact that it is registered in Saint Vincent and the Grenadines casts doubt on its reliability, creating a concerning possibility of it being associated with financial fraudulent activities.
We strongly advise staying away from brokers with dubious registrations and instead, giving preference to those with established, reputable track records. Look for brokers known for favorable trading conditions and trustworthy services with licenses such as FCA, ASIC, or CySEC, as these licenses offer a heightened level of security and safeguards.
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Quotex is an online trading platform that offers various financial instruments like stocks, currencies, and commodities. It provides a user-friendly interface, advanced charting tools, and real-time market data to help traders make informed decisions. Many users appreciate the platform’s simplicity and the range of trading options available. However, it’s always a good idea to do your own research and read reviews from other traders before deciding to use any trading platform. Hope this helps! Quotex also have best customers service reply with in 5 minutes love quotex