Is Quotex legal in Brazil? – A complete guide for brazilian traders

Finding the perfect binary broker can take a lot of your time as you need to go through all these websites and check whether they’re safe and regulated. However, this process may become tedious, but worth the time if you find the best broker platform.

However, what if it is not available in your region? This is why you need to research correctly according to your country name because that will narrow your search. Therefore, we will talk about Quotex and the features offered by this platform. We will also see if Quotex Brazil is legal or not?

About Quotex – What is it?

Quotex was founded in 2019, and it started operating as a trading platform in November 2019 after issuing a license from the International Financial Markets Relations Regulations center (IFMRRC). It is a subset of the company Awesome Ltd., located in Seychelles.

Quotex as a new binary options broker that has just started, is trying to make trading easier by offering high payout, low risk, and the ability to trade in the major currency pairs and gold. You can deposit with a credit and debit card and you can withdraw your money anytime you want.

Even though Quotex is not very old in the broker industry, it is still making its name a fantastic platform for those new to trading combined with those who are experienced. It allows a choice in 100+ asset options such as commodities, indices, binary options, and cryptocurrency. 

Quotex is also known to provide market signals. Basically a form of aid provided by the broker. These signals comprise various information related to market trends and the introduction of new instruments. You can even trade in binary options on Quotex, as it provides options for such traders too. The platform is unique and has seen a lot of reviews from many customers throughout the world.

Features of Quotex for Brazilian traders:

The website is open to many countries that speak diverse languages, such as Hindi, English, Arabi, Persian, French, Malay, Thai, Indonesian, Portuguese, Spanish, German, Chinese, Ukrainian, Turkish, Russian, Polish, Vietnamese, and Italian. So this platform is available in the right language for Brazilian citizens.

Quotex allows a choice in multiple assets over 100, such as commodities, indices, Forex, cryptocurrency, etc.; you only get 14 options for indices, whereas the commodities that you can trade are US Crude, Gold, Silver, and UKBrent. Cryptos available for trading are Ethereum and Bitcoin and over 20 pairs of Forex.

There is also an option for trading currency pairs such as NZD/JPY, CAD/JPY, and EUR/CHF.

Quotex also offers trading signals that are known to have at least 80% accuracy. Now, trading signals are intimations from the platform about an asset that could bring more profit you and give you a better return on investment.

Open up a demo account with Quotex to hone your trading skills so that you can learn the processes and strategies quickly without using real money and risks. You also get free $10,000 as virtual funds to mimic a live trading session.

Advantages of trading in Brazil with Quotex:

The traders need not download the platform anywhere and can use the browser to access the website from the device of their comfort. There are way more Pros:

• It has a simple interface that allows ease for the client’s use and some trading tools and assets.
• The charts that denote market position can be used easily and is easier to understand for any new trader. You can even customize the chart according to your wish.
• There are multiple languages available for people from various countries.
• There are many asset options to choose from and invest your money in.
• Quotex is a fantastic broker platform, as it does not charge any fees for deposits, withdrawals, or even commissions. However, the fees may depend on the asset you will trade.
• A deposit bonus of 35% opts for all new joiners on the Quotex platform. The more amount you deposit, the higher the bonus will be. So, if you deposit at least $100, you will get an extra 80%, but for the first deposit only.
• There is a minimum deposit amount of $10 and minimum trade amount of $1, which is incomparable with the other broker platforms.
• It is accepted in over 249 countries and is very open about its work and the profits that can be gained from the site.

Disadvantages of trading in Brazil with Quotex:

Quotex does not provide any leverage to the clients, which could help them increase their profits or gains. It may become a deal-breaker for some people.

The credibility of Quotex is shaky as it does not have any regulation from a government-operated body but has an IFMRRC certification.

Here is a summary of the Pros and Cons:

Is Quotex legal to use in Brazil?

Yes, Quotex is safe and regulated to be used in Brazil. Traders who create an account on this platform from Brazil are offered all the features and bonuses every Quotex trader receives. You can even trade Forex from Brazil without breaking any laws or doing anything illegal.

As they hold a license from a member of the IFMRRC, they are legit and secure for being used as a broker/trader platform. The IFMRRC is an organization known for providing licenses to legit broker organizations.

All in all, Quotex is not regulated by the Brazilian government but it is legal to use this trading platform in Brazil. Brazilian traders are accepted and can deposit or withdraw money at any time.

Conclusion: Quotex is in Brazil a legit broker

Quotex is a legal broker in Brazil where you can trade for multiple asset options such as cryptocurrency, indices, commodities, and Forex. It is entirely legal and safe as it is regulated by an independent regulatory organization that keeps a check on its workings and the on-site activity.

Quotex is a commendable broker option for those looking to trade in binary options. Their platform is very easy-to-use and provides even better features to use, like a demo account which is beneficial for both new traders and experienced traders. While newbies can learn trading from demo accounts, experienced traders can try out new strategies on this free account with the help of virtual funds of $10,000.