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Quotex Review 2025

Written By

Christian Harris

Written By

Christian Harris

Christian is a seasoned journalist with decades of experience. He transitioned from tech journalism to finance to follow his interest in investing. He has been trading stocks, futures, forex, and cryptocurrencies for more than 5 years, becoming an eToro Popular Investor. With hands-on expertise across various assets, he offers valuable trading insights.

» Christian Harris Profile Page

Edited By

James Barra

Edited By

James Barra

James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.

» James Barra Profile Page

Updated

Feb 5, 2025

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Overall Rating

4.4 / 5

Quotex is #4 in our binary options broker rankings.

Customer Reviews (19)

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Customer Reviews

Regulation & Trust

1.5 / 5

Accounts & Banking

3.3 / 5

Assets & Markets

2.5 / 5

Fees & Costs

4 / 5

Platforms & Tools

3.5 / 5

Customer Support

1.5 / 5

Minimum Deposit $10

Trading Platforms Web Platform

Instruments Binary Options on Stocks, Indices, Forex, Commodities, Cryptos

Regulators

Account Currencies USD, EUR, GBP, INR, JPY, MYR, IDR, RUB, BRL, NGN, THB, VND, UAH

Payment Options Credit Card, Visa, Mastercard, Bitcoin Payments, Ethereum Payments, Debit Card

Pros

• The web-based platform and app are intuitive based on our hands-on tests, with a clean design and simple order execution. They include multiple indicators and built-in trading signals, making them practical solutions for both beginners and more experienced traders.
• A free demo account with $10,000 in virtual funds lets new traders practice strategies and test the platform without risking real money. It's an excellent tool for beginners to gain experience.
• Quotex lets you start trading with just $10, making it accessible for beginners and those wanting to test the platform with minimal risk. Withdrawals also start from $10, allowing easy access to funds.

Cons

• Quotex is an offshore broker operating in a jurisdiction known for loose regulatory oversight. Unlike regulated brokers, it does not offer the same level of investor protection, dispute resolution, or fund security, making it riskier.
• Quotex offers few market analysis tools and lacks real-time financial news, economic calendars, or in-depth research reports. Educational resources, such as courses, webinars, and expert insights, are also absent, making it less ideal for beginners.
• Customer service is only available via email and social media, which can lead to slow response times in our experience. Competitors like Videforex provide 24/7 live chat and phone support, ensuring you get help quickly during technical or withdrawal problems.

Regulation & Trust

As is standard among binary options brokers, Quotex operates without regulation from recognized financial authorities.

The company is registered under ON SPOT LLC GROUP (previously Maxbit LLC) in Charlestown, St. Kitts and Nevis, a jurisdiction known for minimal regulatory oversight.

Several financial regulatory bodies have issued warnings against Quotex. For instance, the Italian Commissione Nazionale per le Società e la Borsa (CONSOB), the Portuguese Securities Market Commission (CMVM), and the Polish Financial Supervision Authority (KNF) have all stated that Quotex is not authorized to provide financial services in their respective countries.

As unregulated offshore proprietary trading platforms like Quotex operate without stringent regulatory oversight, they can be susceptible to potential manipulation, such as fake candles and artificial price movements.

Without independent third-party verification, you have limited recourse in cases of suspicious market behavior, withdrawal issues, platform malfunctions, or financial loss.

Accounts & Banking

Live Accounts

Quotex offers a single account, which helps to provide accessibility and simplicity to inexperienced traders.

Key features of the account include:

• Low Minimum Deposit: Start trading with just $10.
• High Payouts: Earn up to 95% profit on successful trades, depending on market conditions and asset selection.
• Asset Selection: Trade binaries on forex, stocks, indices, commodities and cryptocurrencies, all from a single account.
• User-Friendly Platforms: The proprietary web-based platform and mobile app are clean and intuitive, which makes it easy to open real-time charts and add indicators for better decision-making.
• No Hidden Fees: No commissions on deposits or withdrawals, ensuring transparent trading.
• Multiple Payment Methods: Deposit and withdraw funds via credit/debit cards and cryptocurrencies.
• 24/7 Customer Support: Access assistance via a ticket system from the trading platform and website.

On the downside, it doesn’t offer improved trading conditions for more active, well-capitalized traders. In contrast, IQ Cent offers four account tiers with higher payouts in return for larger deposits.

The sign-up process took me just a few minutes and required only basic details like my country of residence, currency, email, and password. I could even register using my Google or Facebook social logins.

Unlike some brokers that require lengthy verifications, Quotex allowed me to begin trading with a live account within a few minutes after uploading a few documents to verify my identity.

Overall, I was impressed by the seamless and fast process, but that’s largely due to the lack of regulation which requires stricter Know Your Customer (KYC) checks.

Christian Harris

Author

Demo Accounts

After signing up, you can immediately access a $10,000 demo account to practice risk-free. This account provides full access to the platform’s features and assets with no time restrictions, which is great as most brokers we’ve evaluated limit demo accounts to 90 days or less.

I also appreciate that you don’t have to open and verify a live account to access the demo account and that I can replenish my virtual funds anytime, allowing for continuous practice.

Deposits & Withdrawals

Quotex’s deposit and withdrawal methods primarily consist of cryptocurrencies, which might deter new traders, but there is also the option to use credit cards/debit cards.

• Bank Cards: Visa and Mastercard are accepted for near-instant deposits.
• Cryptocurrencies: Over 24 cryptocurrencies are supported, including Bitcoin payments, Ethereum payments, Bitcoin Cash, USD Tether (TRC-20 and ERC-20), USD Coin (ERC-20) and Binance Pay.

Quotex’s deposit and withdrawal options are decent, but adding popular payment methods like e-wallets and local banking options would enhance the user experience significantly.

A key advantage of using Quotex is that it does not impose any fees for deposits or withdrawals, making it a more straightforward and cost-effective experience.

Many brokers we’ve tested, like GC Option, charge steep withdrawal fees of up to 4.5% for bank card transactions, which I find frustrating when withdrawing my earnings.

Furthermore, a $10 minimum deposit and withdrawal makes it affordable if you have a small account. For cryptocurrencies, the minimum withdrawal starts from $50, but it might be higher for certain currencies.

When I made my first deposit, I noticed the broker offered a 30% welcome bonus on deposits of $100 or more.

Additionally, the platform periodically provides other promotions, such as cashback and balance bonuses, which can be found in the ‘Market’ section.

While these offers might seem attractive, they often come with specific withdrawal conditions or trading requirements that encourage over-trading and increase the risk of burning your account.

For instance, after reviewing the 30% deposit bonus terms, I discovered that I must trade 100 times the bonus amount before withdrawing any funds. If I deposit $100 and receive a $30 bonus, I must complete $3,000 worth of trades (100 x $30) before withdrawing.

Christian Harris

Author

Assets & Markets

Quotex offers a succinct collection of around 68 binaries and over-the-counter (OTC) options spanning five asset classes:

• Forex: 43+ pairs, including major, minor and exotic pairs such as EUR/USD, CAD/CHF, and USD/IDR.
• Commodities: 4+ commodities including oil, gold and silver.
• Stocks: 8+ popular stocks including Microsoft, Pfizer and Boeing Company, but volatile stocks that might appeal to day traders like Tesla are unavailable.
• Indices: 10+ indices, including prominent ones like the FTSE 100, Dow Jones Industrial Average, and the Nikkei 225. Notably, the S&P 500 is not available.
• Cryptocurrencies: There are only three cryptos, Bitcoin, Dogecoin, and Pepe, so trading popular coins like Ethereum, Solana, or Ripple is not an option.

When compared to traditional brokers and even other binary brokers, Quotex’s asset selection is minimal.

Fees & Costs

Quotex claims to offer returns of up to 95%, meaning if you make a successful $100 trade, you could yield a $95 profit, while a losing trade would result in a complete loss of your initial stake.

However, during testing I noticed that payout rates fluctuate based on the asset and market conditions. More volatile instruments, such as cryptocurrencies, typically offer lower returns.

While Quotex offers substantial payouts overall, it tends to fall short in specific markets, particularly currencies and indices, compared to Pocket Option and IQ Cent.

A minimum trade amount of just $1 should suit even the smallest of accounts.

Platforms & Tools

Quotex offers a web-based (no downloads) trading platform that I find very intuitive. Upon logging in, you’re greeted with a clean and organized interface that ensures essential tools and information are easily accessible.

Charting & Technical Analysis

The platform provides customizable charts, allowing you to select from various chart types, including area (line), candles, bar, and Heiken Ashi. You can also adjust timeframes to suit your short-term trading strategies, ranging from 5 seconds to 1 day.

For technical analysis, Quotex offers a suite of drawing tools, such as trend lines, Fibonacci retracements, and parallel channels, so you can effectively mark up charts.

Additionally, the platform supports over 29 technical indicators, including the Moving average convergence divergence (MACD), relative strength index (RSI), stochastic oscillator and Bollinger bands.

Trading Signals

The platform provides a constant stream of binary options signals, essentially automated trade suggestions based on technical analysis.

The trading signals are displayed directly on the platform in a dedicated signals section. Each signal recommends placing either a Call (up) or Put (down) trade for the recommended trade duration, which can range from 1 minute to several hours, depending on market conditions.

While signals can provide valuable insights, they are nowhere near 100% accurate, and during hands-on tests I discovered that if I trade a large number of signals unquestioningly, my account balance drops quickly.

Quotex’s signals are relatively basic compared to more advanced platforms like Trading Central, as they don’t include in-depth explanations, success rate statistics, or real-time expert analysis.

For a more data-driven approach, I find that combining Quotex’s higher timeframe signals with external analysis tools is more beneficial.

Asset Variety & Trade Execution

Selecting an asset displays its real-time chart, and placing a trade is straightforward:

1. Choose The Asset: Select from the list of available instruments.
2. Set The Investment Amount: Input the desired amount to invest in the trade. The minimum trade size is $1.
3. Define The Trade Duration: Specify the expiration time, which can range from 1 minute to several hours, depending on the asset.
4. Predict The Price Movement: Click on the ‘Up’ (Call) or ‘Down’ (Put) button to predict the asset’s price movement.

I find that charts can be a bit slow to open, and placing trades have a slight delay, but the platform’s one-click trading feature ensures that I can capitalize on market opportunities a bit quicker.

Christian Harris

Author

Research

The absence of advanced market research tools is a notable drawback, as insights and commentary can significantly enhance trading decisions.

In comparison, platforms like Deriv offer more, including a weekly market report released every Monday.

However, Quotex does provide frequent trading signals, which highlight potential asset opportunities and suggest whether to trade high or low and the ideal trade duration.

These signals are useful if you prefer a more automated approach, but they don’t guarantee success. From my experience, the vast majority of trades end up losing if I follow the signals blindly.

Education

Quotex offers reasonable educational resources, including a demo account for practice, an FAQ section with answers to common questions, a Quotex blog with platform updates, and a Quotex Academy that offers trading tips and other insights.

These resources can help beginners get started, but I find them fairly limited compared to the best brokers for education, and annoyingly, they aren’t regularly updated.

Also, the site does not offer structured educational content like courses or webinars.

Customer Support

Quotex offers minimal customer support options to assist you ’24 hours a day, five days a week’. These include:

• Contact Form: A form allows you to submit inquiries on the Quotex website and within the client dashboard.
• Social Media: Quotex has Telegram, Instagram, and Facebook pages where you can receive updates and communicate with the support team.

These support options provide the most basic avenues for assistance. I find it frustrating that I can’t contact a customer support member via live chat or phone for immediate assistance.

In comparison, Videforex provides 24/7 video chat support, offering active traders a more robust support option.

Faster email response times – within a few hours instead of one business day – would also enhance efficiency, especially with a priority support option for urgent cases.

Additionally, a more detailed FAQ section with video guides and troubleshooting tips could reduce the need for direct assistance, as would an AI bot for the most basic inquiries. We’re increasingly seeing brokers introduce these.

Should You Day Trade Binaries With Quotex?

Whether you should day trade with Quotex depends on your priorities and trading style.

The platform is user-friendly, offers a low minimum deposit of $10 and a low minimum trade size of $1, and provides a free demo account for risk-free practice. Additionally, Quotex charges no fees on deposits or withdrawals.

However, there is a considerable downside to consider. Quotex lacks regulatory oversight as an offshore broker, which may raise concerns about fund security and fair trading practices.

Ultimately, if you’re looking for a simple, beginner-friendly platform to trade short-term binary options, Quotex could be a reasonable choice. However, you may want to explore other brokers if you prefer advanced trading features and a broader asset selection.

For safer alternatives, regulated brokers offering options, forex, or CFDs may be better.

FAQ

Is Quotex Legit Or A Scam?

Quotex operates as an offshore trading platform and its legitimacy depends on individual risk tolerance and expectations regarding regulation. The platform is registered in Charlestown, St. Kitts and Nevis, a jurisdiction known for its loose regulatory requirements.

It provides a working trading platform, competitive payouts, and no reported hidden fees, which are positive signs.

However, as with any unregulated broker, there is always a risk regarding fund security, trade execution transparency, and dispute resolution, which is why many top financial regulators (such as the FCA, CySEC, and ASIC) have banned or restricted binary options due to their high-risk, gambling-like nature.

If you trade with Quotex, it’s best to start with a small deposit, withdraw profits regularly, and avoid investing more than you can afford to lose.

Is Quotex Suitable For Beginners?

Quotex is suitable for beginners. The proprietary platform is easy to use, featuring a user-friendly interface that allows you to navigate, manage watchlists, and execute binary trades quickly on desktop and mobile devices.

The demo account is a great tool for practicing trading without any financial risk. It allows you to familiarize yourself with the platform and develop your skills.

Additionally, the ability to start with a low minimum deposit of just $10 makes Quotex accessible if you are new to binary options trading.

However, you should still be cautious. Binary options trading carries significant risks, and understanding the market dynamics is essential before committing real funds.

Top 3 Alternatives to Quotex

Compare Quotex with the top 3 similar brokers that accept traders from your location.

1. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
   Go to World Forex
2. Videforex – Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
   Go to Videforex
3. Dukascopy – Established in 2004, Dukascopy Bank SA is a Swiss online bank and brokerage providing short-term trading opportunities on 1,200+ instruments, including binaries. A choice of accounts (JForex, MT4/5, Binary Options) and sophisticated platforms (JForex, MT4/MT5) deliver powerful tools and market data for active traders.
   Go to Dukascopy

Quotex Comparison Table

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