Is Quotex.io a scam or not? – Review and test of the Binary Options Broker
Trading Binary Options can bring you very fast profits or high losses. Many traders are interested in using this financial product. So it is very important to invest with a reliable online broker. Quotex.io is a new trading platform which offers such kind of services.
In this review and test, I will check Quotex for you and tell you the truth about this broker. What are the trading conditions, how is the platform working, how fast can you payout your profits? I will answer all the important questions for beginners with Quotex. Should you trust this broker and invest money there? Is it a scam or not? – Find out in my honest review.
What is behind Quotex.io? – The broker presented
Quotex is a new digital options broker for investing in more than 100 markets. The platform was founded in 2020 and is managed by the Quotex LTD. with the address 03 Sham Peng Tong Plaza Victoria, 1, Mahe, Seychelles where you will find the headquarter of the company. It is a typical offshore broker which accepts all type of clients. You can trade on the markets by getting a high yield of up to 95% That means you invest $100 in a rising EUR/USD chart and if you are right in a certain time period you will earn $195. Later I will go into detail to show you how exactly it works.
The broker presents a newly developed trading platform and software. The platform is available for desktop and mobile devices. The company is active in more than 20 different countries and offers support in different languages. There is not so much information about the company on the internet, because the broker is very new. But the first impressions for me are quite good. Quotex has good offers for clients and investing in the markets.
Quick facts about Quotex.io:
IFMRRC (International Financial Market Relations Regulation Center)
Minimum trade amount:
Maximum trade amount:
Free and unlimited
Up to 100%+
Up to 95%+
100+ forex, stocks, commodities, indices, crypto
Credit card, e-wallets, online banking, cryptocurrencies
No additional fees
24/7 chat and email
More than 20
Is Quotex a regulated broker? – Regulation and security
If you want to invest in the financial markets or any type of financial product, I recommend using a regulated broker and platform. It is very important for investors to have high security when investing in financial products. On the internet, you will find a lot of frauds and scams when it comes to Binary Options trading. In order to avoid a scam or fraud, you should choose a regulated Binary Options broker.
From my experiences, Quotex.io is a safe and secure online broker. I tested the platform several times and it is my main trading broker. Deposits and withdrawals of money are working very fast. Quotex is regulated by the International Financial Market Relations Regulation Center (IFMRRC) with the number TSRF RU 0395 AA V0161. Click on the number to see the license.
The FMRRC regulation is not a regulation of an official finance authority, it is an international and independent regulator. In addition, Quotex is an official company by the company ID: 226716. It seems that Quotex is a safe broker for investing. I also searched about negative comments about this trading service and I could not find any negative reviews about this broker. Furthermore, only secure and regulated payment methods are used for deposits and withdrawals. All in all, I can say that Quotex is a secure broker for online investments by using digital options.
- Regulated by the IFMRRC with the number TSRF RU 0395 AA V0161
- The official company number is: 226716
- Safe and secure website/platform
- 2-factor authentification is available
- Secure payment methods
Is Quotex legit or not?
Quotex is definitely legit and I can recommend this trading platform. The deposits and withdrawals are very fast without any additional fees. You can make money with Quotex and be safe to get it withdrawn in a few minutes or hours. I tested the broker by myself and it is very secure. Actually, I made more than $ 8,000 profit. Late in this Quotex test, you will see my withdrawal proof.
Review of the Quotex trading conditions and offers:
With Quotex you can invest in the financial markets by using Binary Options (a form of digital options). The technique is quite simple, you just have to make a correct prediction of a price movement in a certain amount of time (expiry time). The conditions for traders and investors have to be checked for signing up with any broker. For example, it is very important for a binary trader to get the chance of high yields in assets by the broker.
Furthermore it is important which offers, bonuses, and assets are available. In my Quotex test I checked every detail and will show you the results.
Quick facts about the offers:
- Minimum deposit $ 10
- Minimum trade amount $ 1
- Trade forex, commodities, cryptocurrencies, and stock indices
- Yield per trade up to 95%+
- Expiry time from 60 seconds up to 4 hours
- Bonus up to 100%
Quotex minimum deposit and trade amount: How to start investing
When you want to start with Quotex you have to deposit at least $ 10. The minimum deposit is $ 10 but can varify by the deposit methods. There are different payment methods available which are depending on your country of residence. For example, traders from Europe can use other payment methods than traders from the USA. The minimum deposit is very low compared to other online brokers. It is easy to start with $ 10.
Also, the minimum trade amount is only $ 1. You can start trading with small amounts of money. I recommend it for beginners to just start with $ 1 and see how it goes. If you do not want to invest real money directly you can use the free demo account filled up with $ 10,000.
Assets and markets
Quotex offers to trade:
- Currencies (forex)
- Stock Indices
As mentioned before, Quotex is a very new online broker. The management will upgrade and develop the trading platform step by step. They plan to add more assets for trading to the platform. Just go to the menu and you can choose the asset you want. Currently, you can trade and choose over 100 different markets.
How much money can you earn with Quotex? – Yield (profit)
The yield of one trade is limited up to 95%+. For example, You invest $ 100 in the EUR/USD and make the right prediction of the movement, you will earn $ 195. The yield is depending on the asset, expiry time, and account level. If you are a VIP-Member like me, you can get an additional 4% profit on every trade.
Personally, I recommend trading on the main stock exchange hours and use liquid assets for investments. These are the markets where you will get the highest yield. But you will see it by yourself if you go on the platform.
- Yield (profit) up to 95%+ per trade
- The profit is depending on the asset and market situation you choose
- The profit is depending on the expiry time
Binary Options (digital options) are limited to an expiry time. Some brokers offer you to trade only 60-second trades or 5-minute trades. The expiry time is always depending on the broker and what he is choosing to offer for the clients. With Quotex.io you are very lucky. You can choose expiry times between 60 seconds and 4 hours. Everything between is possible. For example, you can choose the expiry time of 2.30 minutes.
Quotex bonus explained:
A bonus is a free and additional money on your trading account. The broker gifts your virtual money for trading. But it is not completely free because you need to a turnover (volume) based on the bonus. The bonus amount has to be multiplied by x100. The result is the trading volume you have to do on the platform before you can withdraw the bonus. It is possible to get the bonus by depositing money or use a promo code.
- Bonus up to 100%+
- The bonus can be deactivated any time
- The bonus turnover is x100 (before withdrawal is possible)
Quotex promo code for free bonus
The promotional code allows you to get a higher bonus even if you deposit only $ 100. With my promo code you will get a 30% free bonus. Pay attention, because the promo code is limited to up to 25 new traders:
Quotex Promo Code: FaJpaUN0zx
Test of the Quotex.io trading platform
As your read before, the trading conditions are very competitive and better than most other Binary Options Brokers. Now, I will go into detail and show you the trading platform. I tested the software for many weeks and traded with real money on it. I show you the results, features, and how to use them correctly. After this test, you will know what is Quotex all about.
The following platforms are available:
- Web Trading platform for desktop computer or mobile devices
- Android mobile app (apk)
- iOS (iphone) mobile app
See a screenshot of the Quotex trading platform:
In the picture above you see the Quotex trading platform for desktop devices. You can use the platform in your web browser (chrome, safari, opera, internet explorer, and more). In the next sections, I will show you the features of the platform and trading account.
First of all, you will see a random chart after your login on the platform. On the left side, you find the sections about your trading account, education, tutorials, financial status, and signals. It is a typical menu where you manage your account.
For changing and analysing the asset you can click on the asset menu:
Choose the asset you want to trade and start analysing. It is also possible to do multi-charting. You can open more than one chart at the same time and switch between them.
Charting and analysis
For trading successfully binary options, you have to do a correct forecast of the price movement. Most professional traders are using technical analysis to generate trading ideas. Indicators, chart types, and different time frames are used for a professional technical analysis.
Quotex offers you a huge variety of tools to analyze the markets (including trading signals). You can choose more than 30 indicators, 4 chart types, and a lot of different time frames for analysis. Even technical drawing tools are available.
- Huge variety of technical indicators
- Different chart types available
- Every time frame is available
- Professional charting is possible
How to trade with Quotex: Trading tutorial
How to trade with Quotex? – I will show it to you in the next steps. You can also watch videos on my youtubechannel binaryoptions.com where I am doing live-trading. The next graphic will explain to you how to trade.
First of all, you have to choose the asset you want to trade and generate the trading idea (forecast of the price movement). Then you choose the expiry time of the trade. When should the trade end gain my profit? You will need a good calculation of your trading time. Then you choose the right trading investment (trading amount). The minimum trading amount is $1 with Quotex. I recommend using an investment that fits a regular money management strategy. That means you invest in one trade around 1-2% of your trading balance. After that, you choose the trade direction and start the trade. Wait till the expiry time is over to collect the profit or loss.
- Choose the asset you want to trade
- Choose the expiry time from 60-seconds up to 4 hours
- Choose the investment amount (minimum trade amount is $1, maximum trade amount is $1,000)
- Choose the trade direction
- Wait for the end of the trade
Quotex demo account: The best way to practice trading
When it comes to pracise trading you should use a demo account. Especially for beginners it is a good way to learn the investment. You can also test the trading platform, gaining knowledge, or test new trading strategies. Even professional traders are using a demo account to become a better trader.
Quotex offers a free demo account with virtual money of $10,000. You can refill the account balance every time you want. It is easy to switch between your real and demo accounts. It is just one click in the menu. I recommend using the free demo account first to learn more about the trading platform. If you are secure and sure you want to trade, you can invest real money or start with small amounts of $1. The demo account is available without registration.
How to open your trading account with Quotex
To register with Quotex you need only your email-address and a secure password first You can start trading without verification. The broker may ask you to upload your ID card if you want to deposit or withdraw huge amounts of money. In the account menu, you can fulfill the required fields with your name and address.
Quotex login: It is very secure and simple
To start trading you have to login into the web platform or the mobile app. You just need your email address and password. I recommend activating the 2-factor verification on the login and withdrawal. You will get a security code via email or SMS. That is an important security feature and you should use it.
How to deposit money – Deposit methods
In the menu you can click on deposit funds and you will come to the deposit methods. It is very easy to deposit money with Quotex. There are no additional fees and the deposits are instant. You can choose between Credit Cards, cryptocurrencies, and e-wallets. The minimum deposit is $10 and the payment methods are depending on your country of residence.
After clicking on the deposit method you like to use, you can choose the amount and a deposit bonus up to 35%. I talked before about the bonus in this review. Insert your data and start the deposit.
Facts about the deposit and deposit methods:
- The minimum deposit is $ 10
- Credit Cards/Debit Cards
- Cryptocurrencies (Bitcoin, USDT, Ethereum, and more)
- E-wallets (Skrill, Neteller, ADVCash, and more)
- The payment methods are depending on your country of residence
How to withdrawal money – Withdrawal methods
If you want to withdraw money from your account or profits, just click in the menu and choose “withdrawal”.
On the left side you the how much money is available for the withdrawal. The bonus amount might affect these numbers. For withdrawals you have to choose the same method like you deposited with.
From my experiences, the withdrawals are very fast. I did it multiple times and Quotex is sending the money very quickly. Many traders are worried about it if the broker payout the profits. With Quotex you can be sure that the withdrawal is done secure and fast. In the next section, I show my withdrawal proof.
After requesting a withdrawal, you will get a confirmation message via e-mail:
- Incredible fast withdrawal methods
- Secure and safe
- Maximum withdrawal / withdrawal limit: There are no withdrawal limits
- Minimum withdrawal amount: $10
My Quotex withdrawal proof
Does Quotex withdrawal money? – Yes, it does:
As you see in my menu, Quotex withdraws the profits. I did it several times and there are no problems with withdrawing money. Also, I did some research on the internet, and there are no traders who are in conflict with this broker. For example, on Quora, you will find many positive reviews.
Quotex has its own marketplace where Traders can get additional bonus features:
- Risk Free trades
- Deposit bonus
- Percentage of turnover
- Balance bonus
- Cancel X Points
All these features are only available with a promo code. You may now ask how to get a promotion code? If you start trading real money with Quotex you will get free promotional codes after making a certain trading volume or depositing money. It is a very good feature for traders who invest and trade a lot of money. I can recommend this feature and it is completely free.
Professional offer: Quotex copy trading and signals
Another special offer of Quotex.io are the signals. It is also called “copy trading”. On the left side on the menu you will find the section with “signals”.
Pay attention to the trading signals and maybe your get lucky to make good money on the market. You see the asset and the time duration of the trades. Unfortunately, there is no description or strategy for the trades. You do not know why it shows an up or down signal. It is maybe the result of technical analysis. For me, the signals are not transparent enough to use it but it is a good offer for new traders.
Customer service and support
Quotex offers a 24/7 customer support in more than 20 languages. The support is available in English, France, India, Spanish, and many more languages.
There is a small disadvantage because Quotex does not offer a phone-support. It is only possible to get in contact with the broker via the live-chat and ticket-suppoert (email).
- Multiple languages
- Live-Chat 24/7
- Email and Ticket-Support
- No phone-support
Quotex accepts traders from every country. There are no restrictions. On the payment methods there are restrictions. Maybe you can not deposit or withdraw real money on the platform but you can use the free demo account for sure.
I also found this statment on the Quotex website: “The website services are not available in a number of countries, including USA, Canada, Hong Kong, Germany, Russia as well as for persons under 18 years of age.”
Popular countries are France, Spanish, India, Indonesia, or Brazil.
Conclusion of the Quotex review and test: It is not a scam
Overall, Quotex is a reliable broker for trading Binary Options. It is not a scam for your money. I tested it several times to withdraw my profit and also on the internet you will find only positive reviews about this platform. Quotex is a very good way to bet on the markets with limited risk and a high payout.
The platform is working very well and is user-friendly to use. I recommend using the demo account first before you deposit money. Furthermore, the minimum deposit is very low and you can start with a minimum trade amount of only $1. Quotex offers you to make fast profits on the market.
Compared to other Binary Options Brokers, Quotex.io is number one at the moment in the market. There are no restrictions and limits for your trading. The return (yield) of investments is very high and the withdrawals are working fast. I can recommend this broker!
Disadvantages of Quotex:
- No phone-support
Advantages of Quotex:
- Free $10,000 demo account
- Minimum deposit of only $10
- Minimum trade amount $1, maximum trade amount $1,000
- High return up to 95%
- User-friendly interface
- Huge variety of assets to trade
- Fast trade execution
- Instant deposits
- Fast and secure withdrawals
- Free bonus
- Available in many countries and languages
Is Quotex regulated?
Yes, Quotex which belongs to Awesomo Limited is regulated by the IFMRRC (International Market Relations Regulation Center) with the license number TSRF RU 0395 AA V0161. It is not a regulation of an official finance authority of a certain country.
Is Quotex a good broker?
Yes, Quotex is definitly a good broker. I tested this platform for many month and can tell you that there are no issues with it. The yield can be very high up top 95%+ and you get a very fast execution of your trades. The software is working perfectly. Moreover, the withdrawals are very fast and there are no fees for your payment transactions.
Is Quotex available in the USA?
Yes, Quotex is available in the USA. But there are maybe restrictions for the deposit and withdrawal methods and also the verification process. Please check with your regulation authority in your country if it is available or not.