Quotex, founded in 2019, is a binary options broker that offers market signals on its own web platform. Our 2023 review explains everything you need to know about Quotex: from how to start trading to deposits and withdrawal fees, customer support and welcome bonuses. Read on to find out if you should join Quotex and start investing today!
Quotex is the trading name of Awesomo Ltd based in the Seychelles. Their mission is to combine powerful tools with straightforward digital options products. As a result, their platform boasts an easy-to-navigate user interface with trading signals, indicators and speedy processing times.
New traders can get up and running with as little as a $10 minimum deposit plus a welcome bonus. And, if you want to practice first, there’s also a free demo account offering $10,000 in virtual funds. Clients can use simple up/down binary options options to speculate on stocks, currencies, commodities, and cryptocurrencies.
Once registered with Quotex you can access their web-based platform right away. Choosing an asset displays its live price chart which can be viewed in multiple graphs across different timeframes from five seconds up to one day. The web platform also includes nine indicators that users can tailor to their own preferences along with 15 drawing tools for chart markups which don’t require additional details or indicator names for them to remain visible.
To give traders an extra insight into their potential profits the terminal displays a leaderboard of the top 20 earners on any given day plus unlimited market signals from analysts that provide advice on an asset’s price direction and duration; essentially allowing users to copy trade manually in binary options form.
Traders will enjoy the high levels of customization available; they can update their username and profile photo, switch the background image of their charts, and modify the switch time and investment type in a few clicks. Plus, they have access to a quick detailed view on trades which includes market opening and closing prices along with entry and exit prices. The only downside is that the platform does not offer the MT4 or MT5 platforms.
When trading with Quotex, users need to select an asset from their 410-asset offering (e.g. stocks, currencies, cryptos, indices, commodities). Each asset has a percentage return on investment if you win the trade (up to 98%). They also need to choose an expiration time – between 5 seconds to 4 hours – and put in their investment amount. Then they select either ‘Up’ or ‘Down’, depending on which direction they believe the asset price will go before expiry.
Payouts range from 82% – 98%, depending on factors like liquidity of the asset and its trading time. For example, EUR/USD is offered at 82% while stocks like Pfizer and Intel are around 90%. Fortunately, Quotex does not require commissions or fees on trades while its minimum trade size is $1. However, there is no leverage trading available at this time which could be both a drawback for some beginners as well as helpful in limiting losses.
The broker provides one app for download on Google Play or Apple App Store as well as access to its web-based platform through any browser including mobile phones. This allows users to monitor markets & execute trades via a few taps and access indicators & drawing tools plus live trading signals.
Benefits Of Quotex
When using Quotex, our expert traders enjoyed various benefits such as their own online platform with an easy-to-use interface, a $10 minimum deposit without withdrawal fees, global access in different languages, unlimited trading signals, a 30% deposit bonus and beginner-friendly features including the option of crypto payments and 98% payouts. However there are some shortcomings too – no copy trading or leverage is available and it is an unregulated brokerage with only one account type. Investors can access the platform at all times but only trade during market opening hours. They can contact support by submitting a ticket or using the live chat function on the firm’s website, or by emailing email@example.com. Quotex follows high security standards to protect clients’ personal data and has SSL encryption on payments as well as 3D secure active and Mastercard verification codes. All in all, this broker is well suited for beginners interested in digital options since it offers an array of assets with an uncomplicated interface and great bonuses. Quotex traders come from many countries around the world including Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany Norway etc.