Quotex review and ratings

Established 2019
Location Seychelles
Regulation None
Offices Mahe
Broker type Binary
Leverage up to ---
Deposit from 10 USD
Spreads ---  ---
Platforms Web Binary Platform
Instruments Currencies Crypto Indices Metals Energies
Funding methods Credit Cards Perfect Money AdvCash Bitcoin Ethereum Liteсoin Ripple Tether

Company information

Quotex is a legally registered binary options broker located in the Seychelles, but not regulated by any government agency.

On the plus side, the broker is a member of the IFMRRC, a non-commercial dispute resolution organisation.

Availability

Quotex accepts clients from all over the world, excluding most countries from the FATF grey list and those where trading is prohibited.

Distinctive features

Trading instruments

Binary options offers the following underlying assets for FX trading.

25+ Currency Pairs Based on major and minor world currencies.
4 Crypto BOs Based on Bitcoin, Ethereum, Litecoin, Ripple.
15 Indice BOs Based on baskets of different blue-chip stocks.
2 Metal BOs Based on Gold and Silver.
2 Energy BOs Based on Crude Oil (WTI, Brent).

Comprehensive review

Set up as recently as in 2019 and registered in the Seychelles, Quotex is an offshore and unregulated binary options broker that serves clients from around the world. The broker offers a range of underlying assets for trading, covering asset classes such as crypto, stock indices, forex, and commodities.

Perhaps the most striking thing about Quotex is how easy it is to use its binary options trading platform. The Quotex platform can be learned by anyone in essentially no time, makes it easy to look up any tradable asset, and comes with a decent selection of drawing tools for chart analysis.

A nice thing to note about the Quotex binary platform is also that it is entirely web-based, which means that it can be used on any type of computer regardless of the operating system. Meanwhile, traditional desktop-based trading platforms like MetaTrader 4 & 5 are not supported by this broker.

Being an offshore-registered broker, Quotex makes it easier than many “onshore” and regulated brokers to sign up as a new user and get an account verified. However, it is still necessary to provide some documentation for this process to complete. Among the documents that the broker says may be requested from new clients are a color copy of the passport (picture page), a selfie, and a proof of the user’s residential address.

With the exception of Germany, users from all European countries are welcome to sign up with Quotex. In Asia, residents of most countries except Hong Kong are also welcome. Unfortunately, residents of the US and Canada are not accepted as clients by Quotex.

As is common with offshore brokers, Quotex accepts deposits in a range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Zcash (ZEC), Litecoin (LTC), Ripple (XRP), and the stablecoin Tether (USDT). In addition to crypto, deposits can also be made with Visa, MasterCard, and electronic payment services like Advcash and Perfect Money. Also, keep in mind that withdrawals can only be made via the same method as was used for the deposit. The broker processes all withdrawal requests within 3 business days.

As far as customer service goes, Quotex can be reached via email or an online contact form. Neither any phone numbers nor live chat options are available on the broker’s website, which we believe is a bit unfortunate for a broker that wants to establish a strong reputation. It is perhaps especially important for a new binary options broker like Quotex to be transparent and easy to reach for users, given how many stories there are of traders running into difficulties when trading binary options with offshore-registered brokers.

In all, we are of the impression that Quotex has what it takes to become a successful binary options broker, although there is still some room for improvement on the customer support side. The broker’s platform is modern and intuitive, making it easy to learn even for completely new traders. The choice of underlying assets is also more than good enough to accommodate most binary options traders, whether they are looking to trade crypto or the traditional financial markets.

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