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/10
The WikiFX Score of this broker is reduced because of too many complaints!
QUOTEX
Saint Vincent and the Grenadines|2-5 years| Suspicious Regulatory License|High potential risk|
https://www.quotex-international.com/
Website
Rating Index
Influence
Influence
A
Influence index NO.1
Brazil 8.03Surpassed 45.55% brokers
Biz AreaSearch StatisticsAdvertisingSocial Media Index
Contact
support@quotex.io
https://www.quotex-international.com/
First Floor, First St Vincent Bank LTD Building, James Street, Kingstown, St. Vincent and Grenadines.
https://www.facebook.com/quotexio/
The WikiFX Score of this broker is reduced because of too many complaints!
Licenses
No valid regulatory information, please be aware of the risk!
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
Open Now
Disclosure
More
Danger
PT CMVM
2023-01-03
cmvm warns investors about the QUOTEX / Maxbit LLC and the QUOTEX /awesomo ltd 
QUOTEX
Quotex
QUOTEX
Danger
EE FSA
2022-10-18
Qotex/Maxbit LLC
QUOTEX
Danger
EE FSA
2022-10-18
Broker Information
More
Company Name
Maxbit LLC.
Company Abbreviation
QUOTEX
Platform registered country and region
Saint Vincent and the Grenadines
Company website
Twitter
Facebook
Instagram
YouTube
Pyramid scheme complaint
Expose
Check whenever you want
Download App for complete information
Warning: Low score, please stay away!
4
Previous Detection :
2024-04-19
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The number of the complaints received by WikiFX have reached 21 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
WikiFX Verification
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Exposure
25 pieces of exposure in total Pyramid scheme complaint
Expose Unable to Withdraw
my withdrawal says it was successful, and nothing arrives
My withdrawal took 10 days to become successful but it did not reach my binance account
2023-08-24 01:02
Unable to Withdraw
An error occurred when registering an email
When I registered for the platform, an error occurred in my email and the money was transferred, until now my email has not been confirmed and I cannot withdraw my money and no email has been sent to me.
2024-04-02 22:17
Others
Deposits do not credit to account
One time, I made a deposit via OVO Indonesia and my balance was deducted from OVO and it was declared sent (successful). However, until now, the deposit has never entered my account at Quotex. I've reported via Help, but never got a solution. These funds have left my OVO balance and were never credited to my Quotex account, the transaction failure notification on Quotex did not necessarily return my OVO balance. Until now the deposit funds have disappeared.
2023-12-17 19:02
Resolved
IT WON'T ALLOW ME TO WITHDRAW MY MONEY
I made a deposit for 105 dollars and 60 dollars. After that I tried to make a withdrawal, it took more than 4 hours, so I canceled and made another withdrawal for a smaller amount. I contacted support because more than 24 hours had already passed and they told me that I had to wait 48 hours or, failing that, 3 to 5 days. I did and kept contacting them. After this time I wrote to them and they gave me an excuse that my data was invalid that I should wait, and they never responded again. Despite this, I continued sending messages to support without receiving a response. It's been more than a week and they took away the option to even cancel that withdrawal so that I can't cancel that order, and it stays as an invalid withdrawal. (which is totally false, when I asked them for proof they never provided it to me)
2023-08-31 07:43
Unable to Withdraw
10 days waiting
I have been waiting for my withdrawal for more than 10 days and nothing has arrived. I think this app is a scam
2023-08-22 21:30
Unable to Withdraw
Withdrawal cancellation and account emptying
Today it happened to me that I put 10 dollars in the account and won 143... when I withdrew they disabled my account for a few hours and after that when I was able to re-enter the account I only had the initial 10 dollars and the profits were no longer there. They canceled my withdrawal and took away what I earned...
2024-04-16 10:00
Resolved
Closing my account for no reason
Hello, good afternoon, I have been operating at quotex for more than a year and a half and today, April 15, 2024, without any reason, my account was suspended. I received a notification that my account was suspended for violating the company's rules and policies, something that is not correct, at no time do you carry out such a violation of the rules, I am waiting for a logical response and to make the corresponding claims. I do not know if this could have happened to someone else and if they have already resolved the case since I have funds in my account, please help me, thank you.
2024-04-16 04:24
Resolved
Account closure
Hello, good afternoon everyone, I have been operating at quotex for less than a month and today, Monday, 04/15/24, after operating during the morning, when trying to operate after noon the cell phone application asks me to log in, when I try to log in it skips me a notification that my account was suspended for violating the company's rules and policies, something illogical, especially given the fact that I have a negative balance and have $273 in the account and I consider that they closed it by mistake since there is no reason Logically, I made the corresponding claim to the support and now I will wait for the response, I just hope it is not delayed, and I would like to know how long it can take to restore my account and if you can give me your help in addition to asking if someone was able to resolve a case like this , thank you.
2024-04-16 03:28
Scam
Unable to withdraw
Platforms that can deposit but won't withdraw are so uncreditworthy... Please expose this platform to prevent more people from being cheated!
2023-10-01 00:54
Others
Deposit is not arrived
Good morning, I deposited 700 USD to my broker but it doesn't arrive. I contacted quotex support and they act like they don't understand what I'm writing to them. I sent the deposit message and they blocked my quotex account. After so much effort, I managed to unlock it. but I don't get my investment back, they don't give me any solution.
2024-01-11 04:31
Scam
Account closure without refund of funds
I made my deposit on the platform of $1570.70 from my Binance Pay wallet. I only made a few operations and then I withdrew my funds. However, it did not let me withdraw the next day. They closed my account and did not tell me why. I sent them emails and documents. They asked for verification but didn’t give me any response. I keep writing to them requesting a refund and they tell me that I have already withdrawn the amount for the refund and that they will no longer accept any messages from me. I have lost contact with that department and I haven’t received my refund. They haven’t given me any answer. The scam broker manipulates its graphs and if you beat him, he closes your account. Keep away from this broker forever!!!
2024-02-12 08:07
Unable to Withdraw
Hello, good afternoon, my name is Isaac Rodriguez.
My case today was from the quotex broker who has not responded to me for more than 8 days about a withdrawal I made and neither have the customer service people responded to me. At first I withdrew and everything was going very well because they were a small bunch and Now that it is an amount by everything I have invested and I managed to recover some of the investments I have made and they do not want to make the deposit, the truth is it is unfair and there are also YouTubers who invite you to enter the platform like JESUS TRADERS WHO INVESTS YOU AND WANTS YOU TO DEPOSIT BY FORCE AND PROMISES TO DO OPERATIONS WITH YOU AND ONLY LIES AND SO WHAT HAPPENED TO ME I WAS JUST CONFIDENT AND DEPOSITED UNTIL I WAS IN DEBT PLEASE FRIENDS EVERYONE IN GENERAL IF YOU READ THIS MESSAGE DON'T MAKE THIS MISTAKE PLEASE ××QUOTEX×× IT IS NOT RELIABLE DO NOT FALL INTO THE TRAP PLEASE 🙏 IT IS NOT CONVENIENT FOR YOU TO RESPOND AND THE TRUTH THANKS TO THIS EXPERIENCE I WILL NO LONGER DO IT LOOK AND SEE THEY DO NOT ANSWER ANYTHING I HOPE YOU CAN HELP ME RECOVER THIS PLEASE 🙏
2024-04-19 01:36
Unable to Withdraw
The withdrawal order has not arrived and has passed 35 days
It's a fraudulent company, and the withdrawals suddenly stopped and haven't arrived from last month until now, and support tells me to wait and no problems have been solved.
2023-12-03 07:50
Unable to Withdraw
They closed my account
Hello, I had an account on the quotex platform with which I was operating normally. But they closed my account from one moment to the next. I had money in it which I need to recover supposedly as a precaution. They closed it so that no one withdraws my money. I made the claims and I am waiting for the answer. I don't know if you can help me. That is the deposit and the email that tells me when I want to enter.
2024-03-20 09:46
Unable to Withdraw
Quotex does not give me the money from more than 6 days ago
On April 2, 2024, I made a withdrawal of $81. After the 48 hours that the broker says it takes, I received nothing and on top of that I removed the option to cancel the withdrawal. Then when I wanted to contact them they said that they would give me the money between 3 and 5 days but it turned out to be all a lie since it was almost a week later and I did not receive my money. Contact support and they do not respond, contact the email and neither do they. I would like to know if it can be solved or why because it seems like they scammed me and it seems a disaster to me that these platforms can do it just like that without receiving consequences. I am very angry and I don't understand how things like this can happen with brokers.
2024-04-09 07:54
Scam
Fraud- Account manipulation
I had my account at $20.6k (20 thousand US dollars), and I wanted to raise it little by little, and suddenly I got an email saying to follow a link to have my account deleted... I didn't follow the said link and I opened my account in Quotex which did not give me access, it told me that my email was not registered, I proceeded to reset the Password and I finally managed to log in when I was inside the Broker, the surprise was that my Real Account was in $1.09 and that there were operations of $1,000 and all of them lost, I wrote to support and they told me that the only one who can access the account is me... And they never solved my problem, they washed their hands of it... Then I went back to deposit $400 and in less than 1 hour they emptied my account again, leaving it at 0, now I am afraid to enter that Broker because of this bad experience. In addition to being quite in debt, I have to return money to many other people who invested... In The total investment was 4.8k (Four thousand eight hundred dollars) and in 5 days I raised my account to 20k and all my money disappeared... Since I am a Trader and now I better operate in IQ Option than if it is a regulated Broker, I do not eat Quotex has its headquarters in a Tax Haven and no one knows who the owner is. Be careful not only with this Broker but with all Brokers that are not regulated. Here is the evidence that in less than 1 hour they hacked me and over-operated, causing me to lose more than 20 thousand dollars at a time, which according to them they say I was the one who operated.
2023-12-21 22:26
Data Source 
WikiFX Data provide
WikiFX Data provideUpdated: 2024-04-19
QUOTEX · Company Summary
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information
| QUOTEX Review Summary in 10 Points | |
| Founded | 2019 |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | unregulated |
| Market Instruments | Stocks, currencies, precious metals, indices |
| Demo Account | Yes ($10,000 virtual account) |
| Leverage | N/A |
| EUR/USD Spread | N/A |
| Trading Platforms | Web |
| Minimum deposit | $10 |
| Customer Support | |
What is QUOTEX？
QUOTEX, a trading name of Maxbit LLC., is allegedly a binary options and forex broker registered in Saint Vincent and the Grenadines that provides its clients with a WebTrader as its trading platform and over 410 tradable financial instruments. However, Quotex has not been authorized or regulated by any major financial regulatory body. Additionally, there have been reports and complaints of fraudulent activities associated with the platform.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
QUOTEX has some notable drawbacks, including the lack of a valid regulatory license, numerous reports of scams and poor customer support. On the other hand, QUOTEX does offer a range of trading instruments, and beginner-friendly minimum deposit requirement. However, the risks associated with trading with an unregulated broker may outweigh the potential benefits. It is recommended that traders carefully consider these factors before deciding to trade with QUOTEX.
| Pros | Cons |
| • Demo account available for practice | • No valid regulation |
| • A wide range of tradable assets | Many clients have reported QUOTEX as a scam |
| • Low minimum deposit (10) | • Regional restrictions |
| • No deposit or withdrawal fee | • High inactivity fee |
| • Limited educational resources and research tools available | |
| • No info on trading conditions |
QUOTEX Alternative Brokers
IG - a well-established and reputable broker with a wide range of markets and trading platforms, making it a good choice for experienced traders.
HFM - offers a competitive range of trading instruments and account types, but its customer service has received mixed reviews.
FXTM - offers a range of account types and trading platforms, as well as comprehensive educational resources, but its fees and customer service could be improved.
There are many alternative brokers to QUOTEX depending on the specific needs and preferences of the trader. Some popular options include:
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is QUOTEX Safe or Scam？
It appears that QUOTEX is not a safe broker to trade with. The fact that the broker has no valid regulation is a significant red flag and indicates that they may not be operating in a legitimate manner. Additionally, the numerous reports of scam activities from clients further support the notion that QUOTEX is not a reputable broker. Therefore, it is recommended to avoid trading with QUOTEX and to seek out a broker with proper regulation and a good reputation in the industry.
Market Instruments
securities (shares of world companies)
currency pairs (EUR / USD, GBP / USD, etc.)
raw materials and precious metals (oil, gold, etc.)
indices (S&P 500, Dow, dollar index, etc.)
QUOTEX advertises that it is a multi-asset platform with more than 410 trading instruments across 4 asset classes for digital options trading:
Accounts
QUOTEX says that it offers free demo and real accounts. Traders can register and get $10,000 on a demo account for learning to trade. Traders can start with a low amount of $10. Although this is the reasonable and proper amount, traders should stay away from this broke given the fact that this broker is an unregulated one.
Trading Platforms
When it comes to trading platforms available, QUOTEX gives traders three choices: WebTrader, desktop and mobile (iPhone, Android) versions. Whatever, we suggest you use MetaTrader4 or MetaTrader5 as the trading platform. As most traders know, the MT4 and MT5 are known as the most successful, efficient, and competent forex trading software. The MT4 offers an intuitive and user-friendly interface, advanced charting and analysis tools, as well as copy and auto-trade options. While the MT5 allows traders to execute trades on different financial markets through a single account and there is a hedging option.
See the trading platform comparison table below:
| Broker | Trading Platforms |
| QUOTEX | Web-based |
| IG | Web-based, MT4, MT5, ProRealTime |
| HFM | MT4, MT5, WebTrader, Mobile App |
| FXTM | MT4, MT5, WebTrader, Mobile App |
Note: It's important to remember that brokers may offer different trading platforms in different regions, and this information may be subject to change.
Deposits & Withdrawals
From the logos shown at the foot of the home page on QUOTEXs official website, we found that this broker seems to accept deposits and withdrawals with Visa, MasterCard, advcash and Perfect Money. The method that you have chosen to deposit the account is also a method of withdrawing funds.
The minimum deposit requirement is said to be $10 and the minimum withdrawal amount is $10 for most payment systems, while for cryptocurrencies this amount starts from $50 and may be higher for certain currencies such as Bitcoin.
QUOTEX minimum deposit vs other brokers
| QUOTEX | Most other | |
| Minimum Deposit | $10 | $100 |
The firm does not charge fees for deposits or withdrawals. However, note that payment systems can charge their fee and use the internal currency conversion rate. As for the processing time of withdrawal requests, the withdrawals usually take 1-5 days.
When it comes to the withdrawal of a sufficiently large amount, the Company may request verification. Usually, additional documents to withdraw funds are not needed . But the Company at its discretion may ask you to confirm your personal data by requesting certain documents.
QUOTEX Money Deposit
To deposit funds into your QUOTEX account, you need to follow these steps. The procedure will take a couple of minutes.
Step 1: Open the trade execution window and click on the green “Deposit” button in the upper right corner of the tab.
You can also deposit the account through your Personal Account by clicking the “Deposit” button in the account profile.
Step 2: After it is necessary to choose a method of depositing the account.
Step 3: Next, indicate the currency in which the account will be deposited, and accordingly the currency of the account itself.
Step 4: Enter the amount of the deposit.
Step 5: Fill out the form by entering the requested payment details.
Step 6: Make a payment.
Fees
QUOTEX doesnt openly reveal any information about their trading conditions. We have no way to know their spreads and commissions. They also do not mention any specific inactivity fee. The only available information is that they charge no fees for deposits and withdrawals. Traders should review the fee schedule on QUOTEX's website carefully before opening an account to ensure they understand the potential costs involved in trading with this broker.
See the fee comparison table below:
| Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
| QUOTEX | Free | Free | N/A |
| IG | Free | Free | None |
| HotForex | Free | Fees vary by method | $5 per month after 6 months of inactivity |
| FXTM | Free | Fees vary by method | $5 per month after 6 months of inactivity |
Customer Service
QUOTEX‘s customer support can be reached by email: support@quotex.io. Besides, you can also follow this broker on some social media platforms like Facebook, Twitter, Telegram and Instagram. Company address: First Floor, First St Vincent Bank LTD Building, James Street, Kingstown, St. Vincent and Grenadines. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most brokers offer.
| Pros | Cons |
| • Multilingual support | • No 24/7 customer support |
| • Social media presence | • No live chat or phone support available |
| • Quick response times and helpful responses from support team |
Note: These pros and cons are subjective and may vary depending on the individual's experience with QUOTEX's customer service.
User Exposure on WikiFX
On our website, you can see that some users have reported that QUOTEX is a scam company. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Conclusion
Overall, QUOTEX appears to be an unregulated and potentially fraudulent broker with many red flags, such as a lack of regulation, numerous negative reviews, and suspicious business practices. Additionally, the broker's fee structure is not transparent, and there is limited information about its trading conditions. Overall, it is not recommended to trade with QUOTEX, and traders should consider other regulated and reputable brokers instead.
Frequently Asked Questions (FAQs)
| Q 1: | Is QUOTEX regulated？ |
| A 1: | No. It has been verified that QUOTEX currently has no valid regulation. |
| Q 2: | At QUOTEX, are there any regional restrictions for traders？ |
| A 2: | Yes. The website services are not available in several countries, including the USA, Canada, Hong Kong, EEA countries, and Russia as well as for persons under 18 years of age. |
| Q 3: | Does QUOTEX offer demo accounts？ |
| A 3: | Yes. QUOTEX offers demo accounts with $10,000 virtual capital. |
| Q 4: | Does QUOTEX offer the industry-standard MT4 & MT5？ |
| A 4: | No. Instead, QUOTEX offers a web-based trading platform. |
| Q 5: | What is the minimum deposit for QUOTEX？ |
| A 5: | The minimum initial deposit with QUOTEX is just $10. |
| Q 6: | Is QUOTEX good broker for beginners？ |
| A 6: | No. QUOTEX is not a good choice for beginners. It advertises well though, it lacks legitimate regulation. |
User Reviews
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User comment
22
CommentsWrite a review
syed7943
0-3months
Quotex is best platform.
As my personal experience quotex is the best ever platform for trading.it has amazing features and so easy trading methods.It's customer support service is quite good. I suggest everyone to use this huge platform.
2024-01-28 04:30
Arif Ullah
3-6months
Quotex is a very good trading platform i'm very impressed by the trading system. QUOTEX provides an array of powerful analytical tools, making it easier to perform technical analysis and make informed trading decisions. The platform's charting capabilities and real-time data are simply outstanding . this most good thing is withdrawal system its too fast and easy I LOVE TO USE QUOTEX .
2024-01-01 19:29
anzah ahmed
3-6months
Qoutex one of the most comport binary trading platform. That offers you high return pair and easly trade on it. and gain some profit.
fast deposit method and withdraw take it few couple minute. and receive your payment.
and also the support system is very quickly response.
Thank you
Date of experience: December, 2023
2023-12-31 19:19
Mohamed26
3-6months
I have been using it for 1 years and I have never faced any problems with deposits and withdrawals. I can definitely say that this platform is much better in terms of payout than other platforms. It's UI is very easy to use.
2023-12-19 18:28Eli8432
3-6months
So far, the quotex platform works very well for me, the transaction is quite fast
2023-11-24 14:24
wells3819
3-6months
I think the problem is the bank link with cards and the validations with documents, but if you deposit with Binance, it charges your balance immediately and for withdrawal through this means it is very fast, so I think we can give it a try and try with other media, greetings.
2023-10-25 10:01
NIKHIL KS
more than one year
Quotex is one of the best binary options platform,
- Minimum deposit is 10$
- Easy and good interface
- quick withdrawal
2023-10-17 21:16
Muhammad Noman962
6-12months
Quotex Is best platfrom for binary trading and i like his tournament where you can earn money for free and withdraw fast and deposit and i have small problem that his graph is slow and overall is good Thanks you
2023-09-22 16:36
Phattharat R
6-12months
Quotex Fast Withdrawal The interface is understandable even for beginners. So everyone can understand. I recommend this broker to everyone."
2023-08-29 04:37
Gulam Rabbi
6-12months
Trading on the quotex platform with a minimum deposit of 10 $. The quotex platform is different from other platforms. very fast withdrawals. I hope I can profit consistently with quotex
2023-08-21 16:58
RojinaAkter11
6-12months
Quotex is one of the best broker for trading. It's best for beginner because it's minimum deposit and withdrawal is 10$ and withdrawal speed is very fast like other broker. Quotex own brand online platform has an easy-to-use interface that makes it beginner-friendly. I really Love it.
2023-08-08 17:15
Rahat5820
6-12months
QUOTEX is one of the best broker for trading. It's best for beginner because QUOTEX own brand online platform has an easy-to-use interface that makes it beginner-friendly. I really appreciate it.
2023-08-05 16:12Rahat5820
6-12months
I really love it because :- 1.Low Minimum Deposit: With a minimum deposit of $10 and no withdrawal fees, QUOTEX is an affordable trading platform for traders of all levels. 2.User-Friendly Interface: QUOTEX's own brand online platform has an easy-to-use interface that makes it beginner-friendly. So really love it.
2023-08-02 21:18sansana
6-12months
I really like it. It's very convenient to withdraw money. Fast, no more than 1 hour only.
2023-05-29 13:47
陈秀梅
more than one year
Feels like it is designed for Traders to lose Money.
1-Horrible desktop experience. Feels like QUOTEX wants us to have limited information while trading and wants us to pursue it akin to gambling.
2- Unclear deposit & withdrawal options.
2- No trading costs, news, trends or analysis information available.
A lot of improvement is required.
2023-02-21 12:29
Eason Lee
more than one year
Be aware of Scammers. I had registered online. Luckily I did not deposit money. My brilliant head saved me! I have read too many negative reviews about QUOTEX. So be careful, friends!
2023-02-14 15:00
锐生
more than one year
Its website is way too simple, no contents at all…you know, I won’t put down my money here.
Yes, I am an experienced trader, I’ve traded with lots of brokers. Things are not just like this, ok?
2022-12-16 19:09
FX1178893379
more than one year
This agency is an absolute scam! ! Everything was fine during the analog transaction, but everything changed during the real transaction. I seriously suspected that they were secretly manipulating my account, which caused me to lose a lot, and the withdrawal was very slow!
2022-12-15 09:44 25
