Quotex – Scam or Legit Broker? Complete Binary Options Brokerage Overview and Competitor Comparison (2025)

Quotex is an online broker for trading binary options that launched in 2019. This platform focuses on so-called fixed-profit or turbo options, where traders predict whether an asset’s price will rise or fall over short periods. The company is registered offshore and operates worldwide, emphasizing simplicity and high payouts on trades. Despite its relatively recent appearance, Quotex has caught the attention of traders globally by offering a wide selection of tools and promising high returns. For instance, Quotex’s mobile application has been downloaded over 10 million times on Android, which highlights its rapidly expanding user base.

Quotex Regulation and Reliability

Quotex is operated by an offshore company and does not hold licenses from any well-known governmental financial market regulators. From the standpoint of strict regulatory oversight, Quotex remains an unregulated platform, and client funds are not safeguarded by compensation programs or capital protection guarantees.

It is worth mentioning that several official agencies have issued warnings about Quotex’s activities. In December 2021, the Italian commission CONSOB placed Quotex on its list of illegal intermediaries for providing services without the required authorization. Earlier, in June 2021, Spain’s financial regulator (CNMV) published an investor alert stating that Quotex operates without a license. In 2023, the Portuguese Securities Commission (CMVM) followed suit, noting that Quotex has no authority to offer financial services in that country. Additionally, the Reserve Bank of India (RBI) added Quotex (quotex.com) to its Alert List as an unauthorized platform for forex/trading services. Thus, several countries have formally identified Quotex as an illegal market participant.

For clients, this significantly increases risk. The lack of regulation means that in case of disputes or withdrawal issues, traders cannot seek protection from any government oversight entity. While the Quotex site uses SSL encryption and other standard data protection measures, the primary vulnerability is financial, given the company’s ambiguous legal status. The broker is registered through offshore entities (some sources mention Maxbit LLC in Saint Vincent and the Grenadines, which is part of the ON Spot LLC group from Saint Kitts and Nevis), making legal supervision difficult. Moreover, there is no independent audit of the platform.

Quotex requires clients to go through a KYC (Know Your Customer) identity verification process before making their first withdrawal. This involves providing documentation (passport, ID, proof of address) to confirm the trader’s identity. Verification is meant to increase account security and prevent fraud. The FAQ section on the website explicitly recommends verifying one’s identity in advance to avoid withdrawal delays. However, while KYC helps with internal security measures, it does not compensate for the absence of external regulation.

Potential risks with Quotex include delays or refusals to pay out funds, unilateral changes to bonus terms, account blocks for alleged rules violations, and other issues frequently reported by users. Online reviews sometimes mention situations where withdrawal requests remain unfulfilled or an account is suddenly blocked after a streak of winning trades.

However, it should be noted that negative reviews seldom include evidence: they could be posted either by competitors or disgruntled clients who lost money (not uncommon in any trading sphere). Also, even regulated brokers, known to reliably pay their clients, receive negative reviews. In any event, such feedback doesn’t stop millions of other Quotex users from withdrawing their earnings.

Quotex Trading Platform and Tools

The Quotex trading platform is the broker’s proprietary web-based software, accessible via browser without any downloads. The user interface is designed for both beginners and experienced traders. The screen simultaneously displays the chart of the chosen asset and the order interface. The layout is minimalist and intuitive: a list of assets (often grouped by categories) is usually on the left, an interactive chart is centered, and on the right, there’s a panel to set up trades (amount, expiration time) along with “Up”/“Down” buttons to place orders. Navigation is straightforward, and the interface supports multiple languages, including English and Russian, which is particularly convenient for traders from various regions.

The Quotex web version runs on any modern browser and requires no installation. It’s optimized for various screen sizes, so traders can use a computer, phone, or tablet via a web browser. In addition to the web terminal, the broker also offers a mobile application (detailed in a separate section). Both the web and mobile platforms essentially deliver the same core features, including asset selection, technical analysis, placing trades, making deposits, and requesting withdrawals.

Quotex’s platform supports multiple chart types: line chart, candlestick (Japanese candles), bar chart, and Heikin Ashi for smoothed trend visualization. Traders can set chart timeframes from as low as 5 seconds up to 1 day, accommodating both ultra-short-term binary options and more extended analysis. For instance, one might use a 15-second or 1-minute chart for options expiring in 1–5 minutes or switch to hourly or daily timeframes for a broader market perspective.

Quotex also states that it provides trading signals. A dedicated “Signals” section on the platform highlights ready-made trading ideas, indicating the asset, direction (price going up or down), and recommended timeframe.

Other platform features include:

• Leaderboard – Quotex may display daily or weekly rankings of top-performing traders (primarily for motivation and reference).
• Economic calendar or news – some binary brokers integrate news feeds or economic calendars to help traders track fundamental events. Quotex appears to have minimal coverage of this area, focusing primarily on technical signals.
• Educational materials – the official website includes an FAQ section and basic articles/blog posts explaining how the platform works, plus trading tips.

Available Assets and Payouts on the Quotex Platform

One advantage of Quotex is its wide variety of underlying assets for binary options trading. The broker claims to offer more than 150 instruments on its platform. These fall into several categories:

• Currency pairs (Forex) – dozens of pairs, from major pairs (EUR/USD, GBP/USD, USD/JPY, etc.) to minors and exotics. Traders can speculate on fluctuations in currency exchange rates.
• Cryptocurrencies – popular digital tokens (Bitcoin, Ethereum, Litecoin, Ripple, etc.) as well as cross-rates. Quotex enables users to profit from short-term increases or decreases in crypto asset prices without actually owning the coins.
• Indices – stock indices of major global exchanges (S&P 500, Dow Jones, NASDAQ, DAX, FTSE 100, etc.), allowing speculation on the overall market sentiment in a specific region.
• Company stocks – shares of well-known issuers (Apple, Amazon, Tesla, Google, and more). Though binary options on stocks are less common, Quotex offers these contracts, making it possible to earn from short-term equity price fluctuations.
• Commodities – raw materials such as precious metals (gold, silver), energy (Brent or WTI oil, natural gas), and certain agricultural products (possibly coffee, wheat, etc.). These allow traders to diversify beyond currency markets.

Regardless of the specific asset, the principle of trading remains the same: fixed returns on the option. Unlike traditional markets, where profits rise in proportion to the extent of price movement, binary options have a predetermined payout. The payout percentage (or profitability rate) is a key metric traders look at when selecting a binary options broker.

Quotex boasts some of the highest payout percentages in the industry – typically between 80% and 95% on popular assets. This means that in the event of a correct prediction, a trader gets their stake back plus 80–95% profit on top of it. For example, if the EUR/USD payout rate is 90%, a successful $100 trade would return $190, of which $90 is net gain. Quotex’s maximum advertised payout can go as high as 95%, and some sources indicate that for certain assets during specific hours, it might reach 98%. However, 80–95% is the usual range. For comparison, many competing brokers offer average binary payouts in the 70–90% range, so Quotex indeed stands out as potentially more lucrative.

What influences the payout rate? The broker itself sets these percentages in real-time, factoring in liquidity, volatility, time until expiration, and possibly the account type. Typically, the most popular and liquid instruments (major currency pairs, key indices) have the highest payouts—around 85–95%—during active market sessions. Less volatile times or less popular instruments might yield lower percentages of 70–80%. It’s also common that extremely short expirations (like 60 seconds) might offer slightly reduced payouts compared to 5- or 15-minute options, as second-by-second volatility is riskier.

Some binary brokers offer VIP traders enhanced payout rates. Quotex is no exception— as we’ll see later, owners of Pro and VIP accounts receive higher yields than the standard tier. The difference may not be huge (+2–4% above the base rate), but over many trades, an extra few percent can be advantageous.

Keep in mind, the high percentages shown on the site represent ideal conditions. Traders won’t always get 95% on every trade. Quotex can adjust payouts on the fly if market conditions change— for example, if an asset becomes extremely unpredictable due to major news events, the broker may temporarily reduce the payout to offset risk. Thus, 95% is effectively an upper ceiling usually available in favorable windows.

Nonetheless, Quotex consistently maintains high rates. Reviews often mention that major assets rarely drop below 80% payout, which clearly appeals to many. Still, the reason the broker can offer such high profits is the inherently risky nature of binary options— the house (broker) has a statistical edge because in the event of a losing trade, traders forfeit 100% of their stake, but a winning trade yields them only, for example, 90% on top of their principal. Hence, 90% profit isn’t “free money”— it comes at the cost of a high risk of loss.

Technical Analysis and Signals at Quotex

To conduct successful binary options trading on Quotex, traders have access to a wide selection of technical analysis tools directly within the platform. As noted, the chart can display multiple technical indicators. These include both trend-based and oscillator-style tools to gauge volatility. For example:

• Moving Average (MA) – a sliding average (with various periods and smoothing types) that helps determine the primary market trend.
• Bollinger Bands – shows volatility ranges and potential price extremes.
• Relative Strength Index (RSI) – an oscillator highlighting overbought or oversold conditions.
• Stochastic Oscillator – another popular indicator for measuring market momentum.
• MACD – the Moving Average Convergence Divergence tool to spot potential trend reversals.
• Parabolic SAR – helps identify where a trend may end.
• Momentum, CCI, ATR, etc. – the platform supports various additional indicators that traders can add if they wish.

All indicators are customizable— one can adjust periods, colors, levels, and other parameters. This versatility lets you fine-tune the tools to match your strategy. You can combine multiple indicators (e.g., MA + RSI + Bollinger) to conduct more comprehensive market analysis. While Quotex’s platform may not match a professional terminal like MetaTrader in complexity, it’s more than adequate for binary trading.

Apart from indicators, Quotex has drawing tools for chart annotations. You can place horizontal lines to mark support or resistance levels, draw diagonal trend lines, highlight rectangles (e.g., defining a price range), or use Fibonacci retracements for analyzing pullbacks. These features enable solid technical analysis— you can identify patterns (triangles, flags) or chart formations (head and shoulders, double tops, etc.) without leaving the platform.

Trading Signals at Quotex

As mentioned, there is a “Signals” section. Quotex has integrated a signal service, mostly aimed at newcomers or those seeking additional direction. It displays real-time suggestions like: EUR/USD – “Up” (price increase) – 5-minute expiration. The platform asserts these ideas are derived from market analysis (likely a blend of indicators or pattern-recognition algorithms).

The claimed accuracy of Quotex signals, however, is open to doubt— some marketing materials suggest 87% winning trades, which many experts see as unrealistic for fixed-time trading. First, the broker does not provide full details on how these signals are generated, meaning there’s no clarity on which indicators or strategies are used, nor whether they’ve been historically tested. Second, some observers suspect these signals could be more of a promotional tactic, offering novices a promise of easy profits. Many experienced traders warn not to rely blindly on “magic signals,” especially when a near-certain profit is implied.

One independent test of Quotex signals found that using them exclusively in real trading returned a win rate of around 45%, leading to an overall loss. Essentially, following every signal blindly produced more losing trades than winners, contradicting the optimistic marketing claims. This underscores that you should primarily trust your own market analysis instead of any broker’s “guaranteed signals.”

Hence, consider Quotex signals as a supplementary tool rather than a surefire approach. You might occasionally cross-check a platform signal with your own technical study— if both align, it can build confidence. But opening a trade solely because a signal popped up remains risky.

Quotex Mobile App

For those who prefer trading from smartphones, Quotex has developed a fully functional mobile app. It’s available on Android, providing access to essential platform features on a handheld device. According to Google Play Market, the app has been downloaded over 10 million times, underscoring its popularity. The interface largely mirrors the web platform: after logging in, you can browse all available assets, view the chart, and access the order interface for placing trades. The buttons are user-friendly for tap-based input, and order execution is near-instant if you have a stable internet connection.

The Android Quotex app is free on Google Play. Its interface closely resembles the web terminal: users can see the list of assets, select one to view its chart, then pick expiration time and stake. The app delivers the same key features:

• Full access to all trading assets. You can switch between currencies, crypto, stocks, etc.
• Live price charts. The chart can fill the entire screen; you can switch timeframes and add indicators, although multiple indicators can feel cramped on a small screen.
• Technical indicators are also supported on mobile. You might add, for example, RSI or MA, though fine-tuning them is less convenient on a phone. Still, basic usage is straightforward.
• Trading signals are integrated. The mobile version can deliver in-app or push notifications with signals, allowing quick responses.
• Account management: deposit, request withdrawals, and review transactions directly in the app. All payment methods are accessible.
• Bonuses and promotions— you can enter promo codes, join tournaments, etc., via the app.
• Demo account— switching between the demo account and live account is done with a single tap, so you can practice from your phone anytime.
• Customer support— you can contact support by chat or email within the mobile interface. User comments suggest that chat responses can come without leaving the app.

The mobile Quotex interface is designed so even a phone’s small screen doesn’t feel too limiting. You can rotate the chart to landscape mode for a more detailed view, with the trade buttons hidden temporarily to maximize space. In portrait mode, the layout focuses on quick trades: chart on top, trade settings just below, and large “↑” and “↓” buttons for swift order placement.

Advantages of the Mobile App

• Trade anywhere, anytime, from your phone.
• Push notifications for signals and updates mean you never miss potential opportunities.
• The interface is adapted for touch screens: large buttons and minimal clutter— perfect for quick decision-making.
• The high download count and strong user rating confirm its functionality and reliability.

Drawbacks:

• Conducting in-depth chart analysis is more challenging on a small screen compared to a PC.
• Monitoring multiple assets is not as easy on mobile; it’s more suited to focusing on one or two instruments at a time.
• Some users report that the app logs them out more frequently (for security), requiring them to log in again.

In summary, the Quotex mobile app is an essential offering, allowing traders to stay active on the go. For those who need immediate access to the markets, it’s extremely convenient. Quotex keeps pace with its competitors in this regard: the Android application has modern features that make trading more accessible for its users.

Types of Quotex Trading Accounts

Quotex offers multiple account tiers, depending on a trader’s deposit size. These account levels are intended to segment users— beginners can start on a basic account, while experienced traders with larger capital gain enhanced privileges. Quotex has three primary account types: Standard, Pro, and VIP. Let’s look at each one and its specific perks:

Standard Account (Basic/Standard)

This is the entry-level status assigned automatically upon registration. The minimum deposit is $10, keeping the initial barrier very low. Once a user deposits $10 or more, they can trade real funds right away. The Standard Account includes all core platform features: access to every asset, standard payout rates (up to 95% on winning trades), the option to use a demo account, and participation in promotions. There are no major feature limitations for standard clients— they have the same access to indicators, signals, the mobile app, and support as everyone else. However, standard status doesn’t confer any special bonuses or higher payouts, making it mainly suited for beginners and smaller-volume traders.

Professional Account (Pro)

Designed for more committed traders, the Pro status is granted once your account balance surpasses $5,000. You can achieve this either through a single deposit or by gradually growing your account to that threshold. Pro-status clients receive the following perks:

• Higher payouts on options. The profit percentage for Pro traders may be slightly higher than for Standard (a few additional percentage points). For example, while a Standard user might get 85%, a Pro user might get 88–90% on the same contract.
• Priority support. Pro users enjoy faster response times from customer support, potentially with a dedicated support line through chat or email.
• A personal account manager. Each Pro trader is assigned a specialist who can help with platform questions, promotions, verification, etc.
• Faster withdrawals. Pro withdrawal requests are processed with higher priority, possibly resulting in near-instant transfers. Officially, the broker states that Pro users can expect faster processing times.

Essentially, Pro accounts cater to serious and active traders generating higher volumes. They gain somewhat better conditions (logical, given they generate more revenue for the broker). Moving to Pro does not require additional registration steps— the status is automatically granted once your balance hits $5,000. If your balance drops below $5,000, you might lose Pro status until the funds go back up (you should confirm these details with support).

VIP Account

The top-tier account status at Quotex is VIP, awarded to users with a balance above $10,000. VIPs receive the most generous set of privileges:

• Highest payouts. VIP-level trades typically unlock the platform’s maximum percentages. Some reports say VIP traders can enjoy payouts 4% above the standard level (e.g., 95% → 98% for certain trades).
• Personal manager (similar to Pro but usually a more senior representative or a specialized department).
• 24/7 priority support. A VIP user is first in line for any support query.
• Fastest withdrawals without fees. VIP withdrawal requests top the queue, sometimes processed within hours. Quotex indicates that VIP payouts are faster and fee-free (on its side).
• Exclusive promotions and bonuses. VIPs may receive higher deposit bonuses, special promo codes, or invitations to large-scale tournaments with big prizes.

The VIP status underscores serious intent— it’s for professional-level traders with substantial capital. Of course, $10,000+ is a significant investment for many, so the number of VIP accounts is relatively small. The broker aims to keep those high-volume traders loyal through premium benefits.

Here is a concise comparison of Quotex accounts:

• Standard: Deposit from $10. Regular payouts up to 95%. Standard support. No personal manager. Withdrawals in normal queue (up to 5 days). Deposit bonuses of around 30%.
• Pro: Balance over $5,000. Enhanced payouts (a few points higher than Standard). Priority support. Personal manager. Accelerated withdrawals. Increased deposit bonuses.
• VIP: Balance over $10,000. Maximum payouts (the highest offered by Quotex). Top-priority support. Personal manager with advanced services. Potentially near-instant fee-free withdrawals. Exclusive bonuses (reaching 35% or more).

Quotex Demo Account

To help traders learn and refine their skills, Quotex provides a free demo account loaded with virtual funds. The availability of a no-risk practice account is a huge advantage, especially for newcomers, allowing them to explore the platform’s features without endangering real money.

Demo account conditions: after signing up (and technically even before final registration), you get access to a simulated balance of $10,000 in virtual currency. This money is used to practice real-life trading conditions— you can open binary trades exactly as you would on a live account, but without risking actual capital. The demo platform is fully identical to the real one: same price quotes, identical payout percentages, same analytical features. This means you can test your strategy under realistic conditions.

Learning opportunities: you can experiment with different assets, try different expiration times, test indicators, and see how it all works without fear of losses. It’s a perfect way to grasp the basics, such as opening trades or reacting to chart movements. You can even test the broker’s signals to gauge their real performance, all without monetary risk. Another plus is that the demo balance can be replenished if you deplete it. If you “lose” all $10,000 (which, by the way, can be a valuable lesson itself), simply click the refresh button, and the virtual funds reset to the original amount. Thus, practice is effectively unlimited in both time and virtual capital.

That said, be sure to treat your demo account as seriously as possible— treat the virtual funds like real money to build good trading habits. Keep a trading journal, analyze winning and losing trades, and note why certain moves succeeded or failed. Doing so will greatly accelerate your learning curve.

Quotex Bonuses and Promotions

Quotex attracts new clients and motivates existing ones through a variety of bonuses and promotions. These bonus programs form an important part of the company’s marketing, and Quotex has developed multiple offers. Below are some of the most common bonus types along with conditions for receiving/using them.

Welcome Deposit Bonus

New users of Quotex may receive a deposit bonus on their first funding. The standard offer is usually +30% on a deposit of at least $100. For instance, if you deposit $100, you get an additional $30 in bonus funds for a total of $130 in your account. If you deposit $300, you’d get $90 in bonus funds for a total balance of $390. The maximum bonus percentage is often capped at around 30%, though sometimes special promotions may push it higher. According to the broker, any profits earned from bonus funds can be withdrawn once the turnover requirements are met (see below).

Notably, VIP clients can qualify for bigger deposit bonuses. As stated on the website, the largest deposits might receive 35–40%. This also applies to promo codes: Quotex regularly distributes codes that may further increase deposit bonuses (some codes can yield 50% or even 100% for new accounts, depending on the campaign). These codes are typically shared through the broker’s social media, email campaigns, or by affiliates. You simply paste the code into the deposit form, assuming you meet any minimum required amount. However, do check the terms, as a high 100% bonus might come with strict rollover requirements.

Promo Codes and Vouchers

Beyond the welcome bonus, the company may distribute promo codes to existing clients, especially during holidays, special events, or partner campaigns. For example, a code offering +20% on any deposit made within a limited timeframe. As of February 2025, sources indicate there are active promo codes for 10%, 30%, 50%, and even 100% bonuses on Quotex. You can find them in official broker channels or from affiliates in blogs and reviews. To redeem a promo code, copy it, go to the deposit section, enter the code in the designated field, and confirm— the bonus applies once you meet the deposit requirement.

Tournaments and Competitions

Quotex hosts trader tournaments where participants compete for top returns over a set period— sometimes on demo accounts, sometimes on real ones. Winners typically earn prizes in the form of bonus credit or even cash payouts. These contests motivate traders to strive for higher profitability. For example, a daily tournament might offer a $1,000 prize pool, split among the top 10 most profitable traders. Usually, the prizes are credited as bonus funds (subject to turnover requirements) or in the form of risk-free trades.

Risk-Free Trades

Occasionally, brokers provide “risk-free trades,” meaning the stake is refunded if the trade loses. Quotex may grant risk-free trades to VIP members or via promotions. Effectively, this is another form of bonus: for example, you might receive 3 risk-free trades of $10 each— if all 3 trades lose, you get $30 back. If they win, you keep the profits, and no refund is needed. Generally, the conditions specify that the refunded amount is given as bonus credit, not as immediately withdrawable cash.

Bonus Turnover Requirements

The crucial point is that all Quotex bonuses come with withdrawal restrictions. You cannot simply cash out the bonus right away; it must be used for trading. According to the user agreement, bonus funds cannot be withdrawn directly. Before those funds become withdrawable, the user must satisfy a specified trading turnover (wagering requirement).

Typically, the turnover requirement is many times the bonus amount. Public data suggests that on Quotex, the turnover multiplier is x100 of the bonus value. In other words, if you got a $100 bonus, you’d need to execute trades totaling $10,000 ($100 × 100) before those bonus funds convert into real money. This full turnover covers the sum of all stakes, not just profits. The requirement is fairly high: you need to “roll over” your deposit multiple times. If you attempt to withdraw funds before completing these requirements, the bonus may be forfeited.

The good news is that Quotex allows users to reject a bonus entirely. In your personal account, you can opt out of the bonus if you don’t want to be tied to turnover rules. This can be useful if you change your mind or accidentally added a promo code. However, it’s best to decline it immediately— if you’ve already traded with the bonus, any associated profits may also be removed if you cancel the bonus mid-way.

Summary of Bonus Policy

• Standard welcome bonus of roughly 30% on the first deposit, boosting your initial trading capital.
• Promo codes can provide higher bonuses (up to 50–100%) or additional deposit bonuses beyond the first.
• Bonus funds can increase trading volume and potential profit, but come with high turnover requirements (often x100).
• You cannot withdraw the bonus directly until completing the required trading volume. Any profit made with bonus funds may also be restricted until these conditions are met.
• You can decline a bonus (trading strictly with your own money) if you’re unsure about meeting the criteria.
• In addition to deposit bonuses, there are competitions, risk-free trades, loyalty incentives for VIPs, etc., all intended to encourage higher engagement among traders.

Quotex Deposits and Withdrawals

Quotex’s deposit and withdrawal processes are flexible— supporting multiple payment methods with relatively low minimum amounts. Let’s see how to fund your account, withdraw earnings, and what potential hurdles you might face.

The minimum deposit on Quotex is just $10. This is among the lowest in the industry, appealing to beginners who want to test the platform without risking large sums. Although you can choose from several account currencies (USD, EUR, GBP, BRL, etc.), it typically all converts to USD. You can place trades starting at $1, which means even a $10 deposit can be split across multiple positions.

Deposit Methods

Quotex offers a variety of payment options tailored to different countries:

• Bank cards. Visa and MasterCard are the most common methods, with deposits typically processed instantly.
• E-wallets. Popular systems like Skrill, Neteller, plus local solutions (for the CIS, Perfect Money, AdvCash, Piastrix, etc.) are accepted.
• Cryptocurrencies. As a modern broker, Quotex supports crypto deposits (Bitcoin, Ethereum, Litecoin, Tether USDT, and others). The platform generates a crypto wallet address, and once the required network confirmations clear, your funds appear in your account. Crypto is convenient for global transactions, often bypassing conventional banking restrictions.
• Bank wire transfers. For larger amounts, wire transfers (SWIFT/SEPA) can be used, although this method is the slowest (several business days) and may incur bank fees.
• Local options. In certain regions, Quotex may integrate local payment gateways. For instance, in some Asian countries, online banking is integrated, or in Latin America, Boleto may be offered, and in India, UPI, etc. The goal is to provide convenient deposit avenues for local users.

Withdrawals

The same payment methods generally apply to withdrawals (except for certain one-way channels). Typically, you must withdraw through the same method you used for depositing, in line with anti-money laundering protocols. For instance, if you funded your account via a Visa card, your withdrawal will typically be processed back to the same card (up to the deposit amount). Additional profits might need an alternative route, depending on the policy. If you used Skrill, you’d likely withdraw back to that same Skrill wallet.

Withdrawal Processing Times

According to Quotex’s FAQ, withdrawal requests are processed within 1 to 5 business days. In practice, smaller payouts (below certain thresholds) can be handled faster— sometimes within hours or a single day. Officially, the broker reserves up to 5 days for processing. This is standard among many offshore, non-regulated brokers. Certain banks or payment networks may add their own clearance times, e.g., once Quotex approves the transaction, your bank might take an additional 2–3 days. E-wallets usually receive funds immediately after the broker completes the transfer.

VIP users, as noted, get expedited withdrawals, frequently on the same day (possibly within hours) and always with top priority. Regular traders should plan for a few days’ lead time. If your funds do not arrive after 5 business days, contact Quotex support with the transaction details so they can investigate.

Potential Withdrawal Issues and Solutions

• If you attempt to withdraw more than your original deposit on a card, the surplus might be paid separately (cards often only permit returning the deposited amount). This can split your payout into multiple transactions.
• If a payment is rejected (e.g., your bank declines a credit from a binary options broker), you may need to use a different method such as an e-wallet or crypto transfer.
• Sometimes Quotex requires additional proof— a selfie with an ID, for instance. This can happen for large sums or if suspicious activity is detected.
• If the delay exceeds 5 business days, insist on receiving a tracking reference for the payment (ARN code for cards, SWIFT docs for wire transfers). Funds might be stuck at the bank, and the tracking data can help locate them.

A wise approach: withdraw profits in smaller, more frequent increments rather than letting large sums accumulate in your account. Considering the offshore nature of the broker, it is prudent to minimize potential exposure by systematically securing earnings. It’s generally safer to receive $200 five times than $1,000 in one lump sum— easier on the nerves, and if one transaction is delayed, the others may still go through.

How to Trade on Quotex (Step-by-Step Guide)

The trading process on Quotex is straightforward and uniform across all types of binary options. Below is a step-by-step guide for beginners— from registration to placing your first real trade:

Step 1. Create an Account

Go to the official Quotex website and click “Sign up.” In the registration form, provide your email address and create a password. Choose your account currency (USD, EUR, etc.)— typically, USD is recommended. You can enter any bonus promo code if you have one. Accept the user agreement, then confirm your registration. Alternatively, you may sign up via social networks (Google, Facebook) in one click. You’ll receive a confirmation email— click the link inside to verify your address. You now have a Quotex account.

Step 2. Try the Demo Mode (Optional)

After registration, the platform might prompt you to start on the demo account. It’s strongly advised to familiarize yourself with the system this way, using the $10,000 in virtual funds provided. On the top bar, ensure you’re toggled to the Demo Account. Practice opening a few trades to learn the interface: how to set amounts and expirations. Once you feel comfortable navigating the platform, you can switch to real trading.

Step 3. Fund Your Account

To trade with actual money, make your first deposit. Click the “Deposit” button (it may be labeled differently but is usually prominent). Pick your preferred payment method— for instance, a bank card. Enter the deposit amount (minimum $10) and apply any promo code if you have one. Follow the on-screen prompts: for cards, enter your card details (number, expiration date, CVV); for e-wallets, log in and approve the payment; for crypto, transfer to the displayed address, etc. Deposits are typically near-instant. Afterward, your real balance will update (including any bonus). Switch to “Real Account” in the account panel to begin trading live.

Step 4. Select an Asset

Decide which market you want to trade. At the top (or side) of the platform, you’ll find the asset list. They may be grouped by category: currencies, crypto, commodities, indices, etc. Click on your desired instrument— say EUR/USD— and its chart will load in the center. Check that real-time quotes are moving. You can open multiple charts in different tabs, but initially, it’s simpler to focus on one instrument at a time.

Step 5. Configure Trade Parameters

On the right side of the screen is the order panel:

• Trade amount. Enter how much you want to risk per trade. The minimum is $1, and the maximum depends on the asset and your account. Beginners should start small to manage emotional swings.
• Expiration time. Choose when the option should end. Quotex offers very short windows (60 seconds, 2 minutes, etc.) and longer intervals (5, 15 minutes, 1 hour, or even end of day). Click the time field to pick from a drop-down or set it manually.
• Profit percentage. Near the amount field, you’ll see the current payout rate (e.g., 90%)— the platform shows your potential return if the trade finishes in the money.

Step 6. Analyze the Chart

Before clicking a trade button, do a brief analysis. Inspect the chart: is it trending upward or downward? Any key support/resistance levels visible? You might add an indicator like RSI to check for overbought or oversold conditions. If you have a personal strategy, wait for your signal to align. Also, check an economic calendar for relevant news. Even for a 5-minute binary option, it’s wise to have a logical basis for your directional choice.

Step 7. Choose Direction – Call or Put

This is the crucial decision— which way do you expect the price to move? Quotex typically has two large buttons: a green “↑” (Buy, Up, Call) and a red “↓” (Sell, Down, Put). If you predict the asset’s price will be higher at expiration, click “Up.” If you anticipate it will fall, click “Down.” After you click, the order is placed instantly. On the chart, you’ll see an entry marker and a line showing the expiration time.

Step 8. Wait for the Outcome

Now you wait until the option expires. You can watch the chart live— the price will fluctuate until the trade closes. Some traders prefer not to look, to avoid stress from every tick. Keep in mind, the final result is determined at the moment of expiration.

Step 9. Option Close and Payout/Loss Calculation

When the expiration time arrives, the platform automatically settles your trade. If your prediction was correct, you earn the payout— your stake plus the profit amount are credited back to your balance. If you guessed incorrectly, your stake is lost. The history tab tracks all trades, showing what you predicted and the end result.

Step 10. Evaluate and Repeat

After each trade (win or lose), pause to analyze why the result occurred. Did you genuinely spot a reliable setup, or was it luck? If you lost, was it a flawed forecast, or did the market behave unexpectedly? Adapt and refine your strategy accordingly.

Some useful tips for efficient trading on Quotex:

• Begin with the demo or minimal real money. Don’t invest large amounts prematurely.
• Use strategies. Binary options should not be approached like roulette. Employ at least basic technical/fundamental analysis.
• Keep emotions in check. Don’t get overconfident after a win or reckless chasing losses.
• Employ money management. Risk no more than 1–5% of your account per trade.
• Leverage platform tools. Indicators and signals can help, but do not depend on signals alone.
• Avoid the aggressive Martingale approach. Rapidly doubling stakes can quickly lead to major losses.

Follow this guide to get comfortable on Quotex and place binary options trades. The interface is intuitive, and placing an order takes just a few clicks. The key is to combine ease of execution with a reasoned and disciplined approach. Trading on Quotex can be profitable if you remain systematic and learn from your outcomes.

Pros and Cons of Quotex

Like any broker, Quotex has both strengths and weaknesses. Below are the platform’s benefits noted by traders, as well as its shortcomings you should be aware of in advance.

Advantages

• Low entry threshold. The minimum deposit is only $10, and you can trade with as little as $1 per option. This makes it accessible to almost anyone wanting to start small.
• High payout rates. Quotex offers returns of up to 95% on winning trades, higher than many competitors.
• User-friendly trading platform. The minimalist interface is intuitive, available in multiple languages, and runs smoothly.
• Built-in trading signals. The system provides readymade ideas boasting “87% accuracy” (though actual performance may vary).
• Free $10,000 demo account. Unlimited time and accessible without an initial deposit.
• Mobile application. For Android (and possibly iOS in some regions), enabling convenient on-the-go trading. The 10+ million downloads attest to its popularity.
• Wide range of assets. Over 150 instruments, including currencies, equities, cryptocurrencies, and commodities.
• Bonuses and promotions. Welcome bonuses up to 30%, promo codes up to 100%, tournaments, and risk-free trades.
• Multiple payment methods. Credit cards, e-wallets, cryptocurrencies, local gateways. Deposits and withdrawals generally without broker-side fees.
• Responsive support. 24/7 service is claimed, with live chat and email. VIP users have dedicated account managers.
• Quick registration. Setting up an account takes a minute; document verification is relatively straightforward.
• Educational resources. An FAQ, blog, YouTube tutorials (often by partners)— helpful for beginners.
• No explicit trading commissions. The broker’s revenue model centers on payout differentials rather than spreads or fees.

Disadvantages

• No license or regulation. This is the main drawback— an offshore broker means no robust legal protection for your funds.
• Warnings from various regulators. Authorities in Italy, Spain, Portugal, and India have blacklisted Quotex for operating illegally.
• Potentially aggressive marketing and inflated promises. Claims about 87% signal accuracy or “guaranteed” profit lack independent proof.
• High risk of binary options. The instrument is speculative; a significant percentage of newcomers lose money.
• Restricted in certain jurisdictions. For instance, unavailable to U.S. residents and some other markets.
• Binary options only— no CFDs, forex pairs for direct margin trading, or longer-term investment products.
• No dedicated desktop terminal. Trading is confined to the web or mobile applications.
• Limited support channels. There’s no direct phone helpline; more complex disputes might require lengthy email exchanges.
• A young company (since 2019). Lacks a long-standing history and potentially carries a higher closure risk.
• Heavy affiliate marketing. The abundance of promotional content and referral-based reviews makes it hard to find unbiased feedback.

Overall, Quotex has appealing trading conditions (platform design, profitability, bonuses), but its unregulated offshore status, reported payment delays, and aggressive promotional claims may overshadow the advantages. Traders should balance the pros and cons carefully. If you decide to trade with Quotex, exercise caution: avoid depositing large sums, withdraw profits regularly, and don’t be swayed by ads promising easy money. Remember that you have limited recourse in a dispute, so the best defense is strict discipline and a realistic approach to risk management.

Quotex vs. Competitors: IQ Option, Binomo, and Pocket Option

To get a clearer picture of where Quotex stands, it helps to compare it to other well-known binary options brokers. Let’s look at Quotex alongside three notable competitors— IQ Option, Binomo, and Pocket Option— focusing on key aspects such as regulation, maximum payout, minimum deposit, bonus policy, and mobile apps.

If your priority is funds protection under recognized supervision, IQ Option or another regulated platform may be preferable, though the bonuses are smaller. If your focus is maximizing payouts and leveraging large bonuses, Quotex can compete with Pocket Option. Binomo is not as generous with payouts but is a well-established brand certified by the Financial Commission, providing a degree of reassurance.

In the end, you’ll choose based on personal preference and interface comfort. Some traders favor IQ Option’s comprehensive feature set, while others enjoy Quotex’s simplicity. Each of these four brokers is a prominent player in the binary options space, but the nuances of their conditions differ.

Conclusion

Quotex is a multifaceted platform: on one hand, a modern and user-friendly broker for binary options, offering a wide array of tools and high payout rates. On the other hand, it is an offshore entity with questionable reliability and fairness. Summarizing our review, we can draw a few conclusions.

Who might find Quotex suitable? Primarily newcomers and retail traders who want an easy way to experiment with financial trading. Quotex could work for those who prefer to start with minimal capital ($10) yet still get features like a free demo mode, bonus capital to boost account size, and automated signals. Beginners may appreciate the straightforward interface and low barriers to entry. Quotex may also attract experienced traders in regions like the CIS or Asia, where the platform is well-known, especially those looking for high payouts and bonus offers. However, for larger-scale investors or serious professionals, the lack of genuine regulation and credible fund protection is a major red flag.

The key advantages revolve around convenience and profitability potential. The broker has built a user-friendly environment with fast access to numerous assets, integrated analytical tools, and even signals. It offers exceptionally high payouts (80–95%), meaning each profitable trade can theoretically yield more compared to many rivals. Its bonus system and promotions are appealing for quickly scaling an account. A well-developed mobile app ensures you can trade anywhere, anytime. From a purely functional perspective, Quotex meets most needs for binary options trading.

However, the downsides are significant. The most pressing concern is the safety of your funds. Quotex does not operate under any recognized license or strict oversight, so there is no external watchdog or client compensation scheme. Complaints about payment issues and account blocks inevitably surface in user forums, and multiple regulators have flagged the platform as illegal. These are not encouraging signals. Aggressive marketing claims about guaranteed returns only amplify suspicion.

In essence, Quotex is suited for high-risk, short-term speculation with relatively small sums of money. If you treat your activity here as a risky endeavor— akin to speculation with the possibility of rapid gains, but also significant loss— then the platform can be used to chase higher returns. It’s a possible fit for those comfortable with those risks and well aware of them. However, it’s inappropriate for anyone seeking stability, transparency, and legal guarantees.

Igor Lementov - Financial Expert and Analyst at Trading-Today.net