Quotex is not a gamble, nor is the practice of trading binary options. Quotex is one of the most well-known binary options brokers. Sadly, the perception of binary options as gambling has also affected the broker’s reputation and the reputation of others like it.
Let’s examine the difference between gambling and Quotex here.
Differences Between Gambling And Quotex
Gambling | Quotex |
---|---|
Refers to games of chances for money | A broker that offers binary options for many traded assets |
Most gambling is based only on chance/luck | Trading binary options on Quotex requires skill over luck |
Most gambling has a house edge, meaning that a gambling establishment has a mathematical advantage over its players | Quotex isn’t a ‘house’ but a middleman or broker. You are betting against other traders when trading binary options instead of the house. However, the payouts for standard binary options are typically lower than most gambling. |
The simple Oxford definition of gambling is playing “games of chances for money” or “betting.” Meanwhile, Quotex is an offshore Seychelles-registered binary options broker launched in 2019. It allows traders to trade binary options across more than 410 markets covering stocks, commodities, forex, and indices, starting from $10.
The platform provides a $10,000 demo account before traders enter the live markets. Quotex also includes integrated signals for real account holders.
(Risk warning: Trading involves risks)
Why Do People Consider Quotex As Gambling?
The primary reason is the association people have with binary options and gambling. Debates continue about whether the two are the same. After all, basic binary options involve predicting if something will go up or down, similar to betting on red or block at the casino. So, both activities share some similarities.
Yet, let’s first mention that not all gambling is the same. There is gambling based purely on chance or luck (e.g., the lottery, slot machines, or roulette). On the other hand, there is gambling that relies on chance and skill, like poker and blackjack. Binary options fall in the latter category. As with poker and blackjack, binary options require strategy and mathematics to succeed (beyond luck or chance).
Still, most analysts define binary options as betting or ‘wagering‘ on an all-or-nothing proposition. It’s also likened to ‘fixed-odds betting‘ (popular in sports betting), where binary options are similar to gambling. However, these are different things.
Either way, this perception spreads toward Quotex. The uninformed person may assume it’s a gambling platform when it is designed only for binary options trading.
Finally, it’s worth pointing out the payout structure. Many forms of gambling offer poor profit rates, with a reward per bet often less than 100% or 1:1 (a maximum of 95% with Quotex). This means you need significantly more winning positions to be profitable over the long run.
Trading on Quotex Without Knowledge Can Be Gambling
People discredit gambling based on chance or luck, like roulette and slot machines. They are often advertised as easy or requiring little knowledge to play. After all, there is typically no proven strategy. Instead, it’s pure guesswork. Many view binary options in the same light.
Hence, we may consider trading on Quotex as ‘gambling’ if the trader isn’t experienced and knowledgeable in binary options. Trading these options takes more than simple guessing.
How Not to Gamble On Quotex
So, how can you avoid gambling on Quotex?
Master Binary Options
Binary options may appear as a simple way to profit from traded assets; they are anything but! Like any financial market, it’s a discipline that can take many years to master. So, the first step is to learn all there is to know about binary options and practice for an extended period on demo accounts.
Here, you develop a trading strategy and test it for profitability before using a platform like Quotex to trade live binary options.
Use Disposable Income
It’s clichéd to hear the adage, “Only invest what you’re willing to lose.” However, such a statement can never be overstated, especially in a speculative market like binary options. Traders should always trade or invest disposable funds (income that remains after covering life expenses).
This will give you a calmer mind, free of attachment to your money. In doing so, your decision-making will become more logical instead of emotional.
Understand Quotex’s Trading Conditions
Any profitable trader looks to benefit from a broker’s trading conditions. This helps you tailor your trading strategy based on the available markets, profit rate, types of binary options available, etc. Here are the key aspects of Quotex’s trading conditions:
- Offers a maximum payout of 95%
- The minimum deposit is $10
- $1 minimum trade amount (trade order amount: $1 to $1000)
- 30% bonus on the first deposit ($100 or more). The bonuses offered by Quotex are non-withdrawable; only the profits once the trader has the minimum required volume
- Risk-free trading (demo account with $10,000 balance)
- No fees (over 20 payment methods, 0% platform commission)
- Leveraged trading isn’t available
- 24/7 online support
Conclusion – Quotex Is Not A Gamble
In summary, the association between gambling and binary options has stood the test of time. However, deeper inspection tells us these are separate activities despite the similarities.
Thus, Quotex isn’t a gamble or a gambling platform. It’s the trader’s responsibility to master binary options and be aware of how to capitalize on the broker’s trading conditions.
Bachittar singh
says:Quotex is legit.Its not gambling.It really credit withdrawals. Support is one of the best teams. they will answer all your queries. The platform works smoothly.