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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 8.03

Surpassed 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

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Danger

ID BAPPEBTI
2022-02-02
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
QUOTEX
CCC
NSFX

Broker Information

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Company Name

Maxbit LLC.

Company Abbreviation

QUOTEX

Platform registered country and region

Saint Vincent and the Grenadines

Company website
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Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 2
Previous Detection : 2024-02-23
  • 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 17 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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Unable to withdraw

Customer service stay silent at the weekend

I made a request to withdraw a very small amount and until now its over 6 days since I made the request, the money has not been sent to my account. the Customer Supporter insisted that I should wait. alright. no problem. but I waited for 6 days already. but in the meantime, They do not accept me to withdraw another amount. they said I reach the maximum withdrawal request. that is impossible. the person have the right to withdraw their own money. please help! seems like they

2022-10-19 16:42
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

    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 email

    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.

    QUOTEX's website

    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

      There are many alternative brokers to QUOTEX depending on the specific needs and preferences of the trader. Some popular options include:

      • 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.

    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

      QUOTEX advertises that it is a multi-asset platform with more than 410 trading instruments across 4 asset classes for digital options trading:

      • 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.)

    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.

    payment methods

    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.

    Customer Service
    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.

    User Exposure on WikiFX

    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.

    News

    WikiFX Review: Why You Should Stay Away from QUOTEX?

    ExposureWikiFX Review: Why You Should Stay Away from QUOTEX?

    2022-12-19 10:26

    The so-called brokerage Quotex is nothing more than an outright scam, please stay away from it!!!

    WikiFX
    2022-12-19 10:26
    Exposure
    WikiFX Review: Why You Should Stay Away from QUOTEX?

    User Reviews

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    23

    Comments

    Write a review

    beatrice3740
    0-3months
    Recently I was duped off my pension funds via a crypto platform. I invested with them cause I saw a lot of ads about them on google as well as many positive reviews so I decided to give them a try. After investing huge they lied the website crashed I was perplexed and worried so I came online to find the best fund recovery team to get back my lost funds then I found Alexvictimhelp @ mail COM team who recoup my money without delay. Try them out
    2024-02-23 15:23
    Reply
    0
    0
    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
    Reply
    0
    0
    Arif Ullah
    0-3months
    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
    Reply
    0
    0
    anzah ahmed
    0-3months
    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
    Reply
    0
    1
    Mohamed26
    0-3months
    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 18:28
    Reply
    0
    0
    Eli8432
    3-6months
    So far, the quotex platform works very well for me, the transaction is quite fast
    2023-11-24 14:24
    Reply
    0
    0
    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
    Reply
    0
    0
    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
    Reply
    0
    0
    Muhammad Noman962
    3-6months
    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
    Reply
    0
    0
    uzumaki
    3-6months
    it is the best platform
    2023-08-30 08:28
    Reply
    0
    0
    Phattharat R
    3-6months
    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
    Reply
    0
    0
    fouad053
    3-6months
    The best nightstand
    2023-08-28 15:17
    Reply
    7
    1
    Gulam Rabbi
    6-12months
    Trading on the quotex platform with a minimum deposit of 10 $. The quotex platform is different from other platforms. very fast withdrawals. I hope I can profit consistently with quotex
    2023-08-21 16:58
    Reply
    0
    0
    RojinaAkter11
    6-12months
    Quotex is one of the best broker for trading. It's best for beginner because it's minimum deposit and withdrawal is 10$ 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
    Reply
    0
    0
    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 16:12
    Reply
    0
    0
    Rahat5820
    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 21:18
    Reply
    0
    0
    sansana
    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
    Reply
    0
    0
    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
    Reply
    0
    0
    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
    Reply
    0
    0
    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
    Reply
    0
    1
    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
    Reply
    0
    1
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