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Saint Vincent and the Grenadines|2-5 years|
Suspicious Regulatory License|Regional Brokers|High potential risk|


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First Floor, First St Vincent Bank LTD Building, James Street, Kingstown, St. Vincent and Grenadines.


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Broker Information


Company Name

Maxbit LLC

Company Abbreviation


Platform registered country and region

Saint Vincent and the Grenadines

Company website

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Previous Detection : 2023-12-10
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Quotex · Company Summary

Registered in Saint Vincent and the Grenadines
Regulated by No effective regulation at this time
Year(s) of establishment 2-5 years
Trading instruments securities, currencies, raw materials and precious metals, indices
Demo account Yes
Minimum Initial Deposit $10
Maximum Leverage Information not available
Minimum spread Information not available
Trading platform Webtrader and mobile application
Deposit and withdrawal method Credit cards, cryptocurrencies, etcetera
Customer Service Social medias, address, live chat, FAQs
Fraud Complaints Exposure Yes

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of Quotex

Pros of Quotex:

  • Wide range of trading instruments: Quotex offers a diverse selection of trading instruments, including securities, currency pairs, raw materials, and indices, allowing traders to have multiple options for diversification.

  • Demo account availability: The provision of a demo account allows users to practice trading without any financial risk, making it suitable for beginners to gain experience and test strategies.

  • Low minimum initial deposit: Quotex requires a minimum initial deposit of just $10, making it accessible for traders with smaller budgets to start their trading journey.

  • User-friendly platforms: Quotex provides a webtrader and a mobile application for iPhone and Android devices, enabling traders to access the platform conveniently from various devices.

  • Multiple deposit and withdrawal methods: Quotex supports various deposit and withdrawal methods, including credit cards and cryptocurrencies, offering flexibility and convenience for users.

  • No fees for deposits and withdrawals: Quotex does not charge any fees for deposits and withdrawals, providing traders with transparent transactions.

  • Educational resources: Quotex offers educational resources such as trading signals and indicators, which can assist traders in making informed trading decisions.

Cons of Quotex:

  • Lack of regulation: Quotex is not regulated by any effective regulatory authority, which may raise concerns for traders seeking the protection and oversight provided by regulated entities.

  • Unknown maximum leverage: The maximum leverage offered by Quotex is not disclosed, making it difficult for traders to assess the level of risk associated with their trades.

  • Limited information on spreads and commissions: The details about spreads and commissions are not available, which may make it challenging for traders to evaluate the cost of trading on the platform.

  • Limited customer support options: Although Quotex provides customer support through social media platforms, address, live chat, and FAQs, there is no direct phone hotline, which may affect the responsiveness and accessibility of customer assistance.

  • It is important for traders to carefully consider these pros and cons, conduct further research, and assess their individual trading needs before deciding to engage with Quotex as an unregulated broker.

What type of broker is Quotex?

Advantages Disadvantages
Quotex offers tight spreads and fast execution due to its Market Making model. As a counterparty to its clients' trades, Quotex has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients.

Quotex is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, Quotex acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that Quotex has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with Quotex or any other MM broker.

General information and regulation of Quotex

Quotex is an unregulated forex broker registered in Saint Vincent and the Grenadines. With a presence in the industry for 2-5 years, Quotex offers a multi-asset trading platform that provides access to securities, currencies, raw materials, and indices. Traders can benefit from a demo account to practice trading strategies without risking real money, and the platform is available through webtrader and mobile applications for convenient access. Quotex supports various deposit and withdrawal methods, with a low minimum initial deposit requirement of $10. It is important to note that Quotex operates without effective regulation, which may be a consideration for traders when choosing a broker.

In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.

Market instruments

Advantages Disadvantages
Wide range of assets Lack of detailed information on specific instruments
410+ trading instruments Limited transparency regarding spreads and pricing
Opportunity to diversify portfolio Limited availability of advanced trading tools and indicators
Access to popular asset classes Lack of regulation for investor protection
Ability to trade securities, currencies, raw materials, and indices Potential higher risk due to the absence of regulatory oversight

Quotex boasts a multi-asset platform with over 410 trading instruments across four asset classes for digital options trading. Traders can access a variety of securities representing shares of world companies, trade major currency pairs such as EUR/USD and GBP/USD, participate in raw materials and precious metals trading including oil and gold, and engage with popular indices such as S&P 500, Dow, and the dollar index. This diverse range of instruments allows traders to diversify their portfolios and explore different market opportunities. However, it is important to note that Quotex's lack of detailed information on specific instruments and limited transparency regarding spreads and pricing may pose challenges for traders who require comprehensive market data. Additionally, the absence of regulation for investor protection may introduce higher risk factors into the trading environment.

trading instruments

Spreads and commissions for trading with Quotex

The company's lack of disclosed spreads, commissions, and other costs poses both advantages and disadvantages for traders. On the one hand, the absence of disclosed spreads and commissions allows for potential flexibility in trading strategies, as traders can adapt their approach without being constrained by predetermined costs. It also creates an opportunity for negotiation or customization based on individual trading requirements. Additionally, the absence of commission charges can be beneficial for high-frequency or frequent traders who engage in substantial trading volumes. On the other hand, the lack of transparency regarding trading costs introduces uncertainty, making it difficult for traders to evaluate the true cost of trading and compare the competitiveness of Quotex with other brokers. There is also a potential for unexpected charges or fees that may impact traders' profitability. Furthermore, the absence of fixed spreads and commissions may lead to uncertainty about the fairness and transparency of pricing and execution. Traders should carefully consider these factors and weigh the advantages and disadvantages before engaging in trading activities with Quotex.

Trading accounts available in Quotex

Advantages Disadvantages
Low minimum deposit requirement of $10 Limited information about live account features
Opportunity to start trading with a small amount Lack of transparency regarding account types
Ability to practice trading with a demo account Potential limitations or restrictions on live accounts
No requirement for large initial deposits Limited information about account benefits and features
Accessibility for traders with limited funds Potential variation in services and features across different account types

Quotex offers a notable advantage in its account types dimension by allowing traders to start trading with a small amount of money. With a minimum deposit requirement of only $10, individuals have the opportunity to enter the market without the need for large initial investments. Additionally, the availability of a demo account further enhances the trading experience by providing traders with a risk-free environment to practice and develop their skills. However, it is important to note that there is limited information provided about the live account, including its features and benefits. This lack of transparency may make it difficult for traders to fully understand the differences between various account types and the specific advantages they offer. It is recommended to seek further information from Quotex's customer support or website to gain a comprehensive understanding of the available account types and their respective features.

Trading platform(s) that Quotex offers

Advantages Disadvantages
Mobile application for iPhone and Android devices Limited information about platform features
Convenience and accessibility on-the-go Potential variation in platform performance
Webtrader availability for desktop trading Potential limitations in platform functionality
Flexibility to choose between mobile and web trading Limited customization options
User-friendly interface for ease of use Possible compatibility issues with older devices

Quotex offers a convenient and flexible platform dimension with its mobile application available for both iPhone and Android devices. Traders can easily access their accounts and trade on-the-go, providing them with the convenience and flexibility to monitor and manage their trades from anywhere at any time. Additionally, the availability of the web-based trading platform, Webtrader, caters to traders who prefer desktop trading. The platform's user-friendly interface ensures ease of use and a seamless trading experience. However, it is important to note that there is limited information provided about the platform features, which may make it difficult to fully assess its capabilities. Furthermore, as with any mobile application, there may be potential variation in platform performance and possible compatibility issues with older devices. Traders are encouraged to explore and test the platform to ensure it meets their specific trading needs and preferences.

Maximum leverage of Quotex

The maximum leverage offered by Quotex is unknown, which presents both advantages and disadvantages for traders. On the one hand, not having a specific maximum leverage allows for flexibility in adjusting leverage according to individual needs and preferences. Traders have the ability to amplify their trading positions and potentially achieve higher returns on their investments. This flexibility also allows for diversification of trading strategies and the opportunity to take advantage of market opportunities with greater trading power even with smaller capital.

On the other hand, the lack of transparency regarding the maximum leverage can be seen as a disadvantage. It creates uncertainty for traders as they may not have a clear understanding of the leverage limitations and risk management measures in place. This lack of clarity can potentially lead to traders unknowingly taking on excessive risk, especially for inexperienced traders who may not fully understand the implications of high leverage.

Deposit and Withdrawal: methods and fees

Advantages Disadvantages
No fees charged for deposits and withdrawals Payment systems may charge their fees
Efficient withdrawal procedure Variable withdrawal processing time
Company aims to process payments promptly Minimum withdrawal amounts for certain currencies
Low minimum withdrawal amounts for most systems Higher minimum withdrawal amounts for cryptocurrencies

When it comes to deposits and withdrawals, Quotex offers several advantages for its clients. The company does not charge any fees for depositing or withdrawing funds, which is a significant advantage for traders. However, it is important to note that payment systems may charge their own fees and apply internal currency conversion rates, which could impact the overall cost of transactions.

The withdrawal procedure at Quotex is generally efficient, with requests being processed within one to five days, depending on the volume of requests being handled simultaneously. The company strives to make payments on the same day the withdrawal request is received from the client, providing a relatively quick turnaround time.

In terms of minimum withdrawal amounts, most payment systems have a low minimum requirement of $10, making it accessible for traders to withdraw their funds. However, for cryptocurrencies, the minimum withdrawal amount starts from $50 and may be higher for certain currencies like Bitcoin.

deposits and withdrawals

How to withdraw money?

The procedure for withdrawing capital is extremely simple and is carried out through your individual account.

The method that you have chosen to deposit the account is also a method of withdrawing funds (see the question “How can I deposit?”).

For example, if you made a deposit to your account via the Visa payment system, you will also withdraw money via the Visa payment system.

When it comes to the withdrawal of a sufficiently large amount, the Company may request verification (verification is requested at the Company's sole discretion), which is why it is very important to register an account individually for yourself in order to confirm your rights to it at any time.

How to deposit money?

It is very easy to do. The procedure will take a couple of minutes.

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.

2) After it is necessary to choose a method of depositing the account (the Company offers a lot of convenient methods that are available to the Client and are displayed in his individual account).

3) Next, indicate the currency in which the account will be deposited, and accordingly the currency of the account itself.

4) Enter the amount of the deposit.

5) Fill out the form by entering the requested payment details.

6) Make a payment.

Educational resources in Quotex

Advantages Disadvantages
Access to various educational resources Lack of detailed information provided
Availability of trading signals and indicators Potential dependence on external sources
Opportunity to enhance trading knowledge Quality and reliability of signals may vary
Additional tools for analysis and decision-making Limited customization or personalization options

Quotex provides a range of educational resources to support traders in enhancing their trading knowledge and skills. These resources include trading signals, indicators, and other tools that can assist traders in making informed decisions. By offering access to a variety of educational materials, Quotex aims to empower traders and provide them with additional tools for analysis.

Customer service of Quotex

Advantages Disadvantages
Multiple communication channels available Limited information provided in FAQ
Responsive support through social media platforms Potential delays in response time
Clear instructions for existing customers Reliance on self-help for account recovery
Accessible support form on the website Possible limitations in support availability
Physical address provided for contact Lack of 24/7 customer support

Quotex offers various channels for customer care, providing multiple options for users to seek assistance. Users can connect with the company through platforms such as Twitter, Instagram, Facebook, and Telegram, allowing for easy and convenient communication. The inclusion of multiple social media platforms enhances accessibility and provides users with various avenues to engage with customer support.

customer care


In conclusion, Quotex is an unregulated forex broker registered in Saint Vincent and the Grenadines, offering a multi-asset trading platform with access to securities, currencies, raw materials, and indices. While it provides a demo account for traders to practice their strategies, the lack of effective regulation raises concerns about the company's credibility and investor protection. The platform is accessible through webtrader and mobile applications, providing convenience for traders on the go. Quotex supports various deposit and withdrawal methods, with a low minimum initial deposit requirement of $10. However, the company does not disclose information about maximum leverage, spreads, or commissions, which may impact traders' decision-making. Customer support is available through social media channels and a support desk, but the absence of a regulated authority overseeing the company's operations could limit the effectiveness of their customer care. Traders should be aware of the potential risks associated with trading with an unregulated broker and carefully consider their options before engaging with Quotex.

Frequently asked questions about Quotex

  • Question: Is Quotex a regulated company?

  • Answer: Quotex is currently not regulated by any effective regulatory authority.

  • Question: What trading instruments are available on Quotex?

  • Answer: Quotex offers a range of trading instruments, including securities (shares of world companies), currency pairs (EUR/USD, GBP/USD, etc.), raw materials and precious metals (oil, gold, etc.), and indices (S&P 500, Dow, dollar index, etc.).

  • Question: What is the minimum initial deposit required to open an account with Quotex?

  • Answer: The minimum initial deposit required by Quotex is $10.

  • Question: Does Quotex offer a demo account for practicing trading?

  • Answer: Yes, Quotex provides a demo account where users can practice trading using virtual money without any investment or risk.

  • Question: What are the available deposit and withdrawal methods on Quotex?

  • Answer: Quotex supports various deposit and withdrawal methods, including credit cards, cryptocurrencies, and more. However, it is important to note that payment systems may charge fees and apply internal currency conversion rates.

  • Question: How long does it take to process a withdrawal request on Quotex?

  • Answer: On average, the withdrawal procedure on Quotex takes one to five days from the date of the request, depending on the volume of requests being processed simultaneously. The company strives to process payments on the day the request is received.

  • Question: Does Quotex charge any fees for deposits and withdrawals?

  • Answer: Quotex does not charge any fees for deposits and withdrawals. However, it is worth considering that payment systems may impose their own fees and currency conversion rates.

  • Please note that the above information is based on the provided details and is subject to change. For the most accurate and up-to-date information, it is recommended to visit Quotex's official website or contact their customer support.


WIKIFX REPORT: Quotex:brokerage locks withdrawals, locks accounts and disappears with customer money

NewsWIKIFX REPORT: Quotex:brokerage locks withdrawals, locks accounts and disappears with customer money

2022-07-01 14:07

Broker for binary options In order to block the accounts of users who are making money on the site, Quotex, an opponent of IQ Option, has been making generic claims that use regulations have been broken. More recently, it has been charged with running out of deposits: clients would pay money using PIX, and though the account would be debited, it would not appear in the wallet.

2022-07-01 14:07
WIKIFX REPORT: Quotex:brokerage locks withdrawals, locks accounts and disappears with customer money
Is Quotex a part of a scam or is it legit? Let’s check out our Quotex reviewed.

NewsIs Quotex a part of a scam or is it legit? Let’s check out our Quotex reviewed.

2021-12-08 12:04

If you are fond of trading with Binary options, you need to know a few things first. It is the only way where you may get success at a rapid rate and you may even face huge loss also.

2021-12-08 12:04
Is Quotex a part of a scam or is it legit? Let’s check out our Quotex reviewed.

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Carmen Rodriguez
Quotex is an excellent platform to do binary operations because of the great currency section that it has, it is highly recommended.
2023-07-02 06:46
I̲t's not a case of luck you can always get your lost funds back ̲,̲ ̲̲S̲a̲y̲i̲n̲g̲ ̲t̲h̲a̲t̲ ̲y̲o̲u̲ ̲c̲a̲n̲’̲t̲ ̲g̲e̲t̲ ̲y̲o̲u̲r̲ ̲m̲o̲n̲e̲y̲ ̲b̲a̲c̲k̲ ̲a̲t̲ ̲a̲l̲l̲ ̲w̲o̲u̲l̲d̲ ̲b̲e̲ ̲w̲r̲o̲n̲g̲.̲ ̲A̲s̲ ̲y̲o̲u̲ ̲c̲o̲n̲t̲i̲n̲u̲e̲ ̲t̲o̲ ̲r̲e̲a̲d̲,̲ ̲y̲o̲u̲ ̲w̲i̲l̲l̲ ̲f̲i̲n̲d̲ ̲o̲u̲t̲ ̲ s̲o̲m̲e̲ ̲m̲e̲t̲h̲o̲d̲s̲ ̲t̲h̲a̲t̲ ̲y̲o̲u̲ ̲c̲a̲n̲ ̲u̲s̲e̲ ̲t̲o̲ ̲g̲e̲t̲ ̲t̲h̲e̲ ̲m̲o̲n̲e̲y̲ ̲b̲a̲c̲k̲ ̲t̲h̲a̲t̲ ̲y̲o̲u̲ ̲h̲a̲v̲e̲ ̲l̲o̲s̲t̲ ̲i̲n̲ ̲t̲h̲e̲ ̲h̲a̲n̲d̲s̲ ̲o̲f̲ ̲a̲n̲ ̲o̲n̲l̲i̲n̲e̲ ̲s̲c̲a̲m̲m̲e̲r̲.̲ ̲I̲t̲ ̲w̲o̲n̲’̲t̲ ̲b̲e̲ ̲w̲r̲o̲n̲g̲ ̲t̲o̲ ̲s̲a̲y̲ ̲h̲e̲r̲e̲ ̲t̲h̲a̲t̲ ̲y̲o̲u̲ ̲h̲a̲v̲e̲ ̲t̲o̲ ̲b̲e̲ ̲v̲e̲r̲y̲ ̲ l̲u̲c̲k̲y̲ ̲t̲o̲ ̲g̲e̲t̲ ̲t̲h̲e̲ ̲m̲o̲n̲e̲y̲ ̲b̲a̲c̲k̲.̲ ̲E̲v̲e̲n̲ ̲i̲f̲ ̲y̲o̲u̲ ̲i̲n̲v̲o̲l̲v̲e̲ ̲t̲h̲e̲ ̲p̲o̲l̲i̲c̲e̲ ̲o̲r̲ ̲s̲o̲m̲e̲ ̲o̲t̲h̲e̲r̲ ̲i̲n̲t̲e̲l̲l̲i̲g̲e̲n̲c̲e̲ ̲a̲g̲e̲n̲c̲y̲,̲ ̲t̲h̲e̲ ̲c̲h̲a̲n̲c̲e̲s̲ ̲o̲f̲ ̲y̲o̲u̲ ̲g̲e̲t̲t̲i̲n̲g̲ ̲t̲h̲e̲ ̲m̲o̲n̲e̲y̲ ̲b̲a̲c̲k̲ ̲a̲r̲e̲ ̲v̲e̲r̲y̲ ̲t̲h̲i̲n̲.̲ but with the aid of experts like 🌍 high forest capital ltd . com they make the process swift and easier. y̲o̲u̲ ̲h̲a̲v̲e̲ ̲t̲o̲ ̲k̲e̲e̲p̲ ̲i̲n̲ ̲m̲i̲n̲d̲ ̲t̲h̲a̲t̲ ̲m̲a̲n̲y̲ ̲o̲f̲ ̲t̲h̲e̲s̲e̲ ̲o̲n̲l̲i̲n̲e̲ ̲s̲c̲a̲m̲m̲e̲r̲s̲ ̲h̲a̲v̲e̲ ̲c̲r̲e̲a̲t̲e̲d̲ ̲t̲h̲e̲i̲r̲ ̲s̲y̲s̲t̲e̲m̲ ̲a̲f̲t̲e̲r̲ ̲p̲r̲o̲p̲e̲r̲ ̲r̲e̲s̲e̲a̲r̲c̲h̲.̲
2023-06-03 11:52
best trading platform very nice fast diposite fast withdrowal
2023-05-02 10:17
more than one year
I have good experience trading with them. The minimum deposit is just 10 dollars and demo accounts are also available. Deposit and withdrawal are no problem at all. Not sure why so many reviewers here complain about it.
2023-02-21 18:05
Thanh Huyền
more than one year
Don’t even get close to unregulated brokers, as an experience trader, this is my advice. They are just thieves. Some of my friends were scammed for not listening to me. Can you believe it?
2023-02-14 09:47
more than one year
I found Quotex on the website advertisement a few weeks ago, so I opened a demo account to trade, and the situation is good. But I am a little worried because their regulatory situation seems negative, and I have not dared to trade with real money...
2023-01-31 10:14
more than one year
This site is not very informative and I have seen people say they have been scammed. I hope you can get your funds back as soon as possible!
2022-12-15 16:31
more than one year
Bad platform. I tell traders from my tragic personal experience, do not approach any forex trading company without any regulatory information. They usually just scam you out of your money!
2022-12-02 09:48
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