Trading binary options can bring you lightning-fast profits. Therefore, many traders consider it tempting and look closely at this form of generating extra income. However, it also comes with significant risk and can result in big losses if approached light-mindedly. Therefore, you should opt for a reliable online broker when it comes to binary trading. There are multiple trading platforms to consider, but today, we want to pay attention to a relatively new name on the industry landscape. Ladies and gentlemen, here's Quotex trading!
Let's take a look at some basics and find out how a Quotex user account works. This guide will also be useful for those who want to learn more about the Quotex authentication process and other nuances of the platform's working mechanism. This will give you a complex understanding of whether this online trading space meets your expectations and is worth investing your money in.
The Quotext trading platform is an innovative space for binary options trading. One of the best things about Quotex is that it offers investment returns of up to 98% and charges no extra fees, no matter what actions you take or what assets you use.
The platform's allows brokers to earn money from a simple price movement and market fluctuations. Simply put, users can make money on the difference between the purchase and sale prices of an asset. The marketplace was established in 2020 and gained popularity with brokers in India, Mexico, Algeria, and other countries. However, unlike, for example, the Forex trading platform, Quotex is unavailable in the USA and Canada.
Quotex offers a wide range of trading assets, including currencies, digital options, commodities, stocks, cryptocurrencies, and indexes. Additionally, the platform hosts dozens of powerful trading tools that can meet even an experienced trader's personal taste.
| Registered Address: | First Floor, First St Vincent Bank LTD Building, James Street, Kingstown, St. Vincent and Grenadines |
| Regulation: | a member of the IFMRRC (membership number TSRF RU 0395 AA V0161) |
| Minimum Deposit: | $10 |
| Bonus: | 30% deposit bonus |
| Minimum Trade: | $1 |
| Maximum Trade: | $1,000 |
| Trading Fees: | No |
| User Account Currencies: | USD, EUR, GBP, BRL, IDR, MYR, INR, KZT, RUB, THB, UAH, VND |
| Demo Account: | Yes, free and unlimited |
| Crypto Auto Market Maker: | No |
| Negative Balance Protection: | No |
Knowing the Quotex main features will give you a better understanding of whether the platform meets your trading style.
Quotex is a completely web-based trading-digital-options platform. It offers a wide range of underlying assets, which currently include more than 400 pieces. The marketplace supports Forex trading, indexes, commodities, and stocks but mostly specializes in trading digital options.
To start trading, you only need to complete an account registration process and choose the asset and expiration time. This time can be from just 1 minute to a few days or months. The interface is quite convenient and user-friendly but informative. You can make projections, set up to 9 indicators to keep track of and make informed decisions by using live price charts and multiple graphs.
The account analytics dashboard here is quite informative, with the number of trades, profit, profit percentage, net turnover, and other indicators available to users. This is a particularly helpful tool for new traders since it enables them to track their development and determine some areas where their setup or approach needs to be changed or improved.
Quotex has a pretty small minimum deposit of $10, which can be made equivalently in different currencies, such as euros, pounds, or even crypto. You can deposit the funds via your bank card, internet banking, e-wallet, wire transfer, or crypto. However, the set of deposit methods can vary by location. For example, Indians can make deposits via multiple local banks, while traders from other countries are limited in options to crypto and e-wallets only.
The binary broker offers up to 98% payouts. The exact percentage depends highly on the trading assets and the expiration duration. Additionally, users' behavior can also affect your return. For example, your payout will be lower if most traders adhere to one point of view, but you can expect a higher return if you choose an opposite direction, provided that you win the trade.
Quotex allows traders to withdraw funds to:
A minimum withdrawal amount is $10 for most payment methods and $50 for cryptocurrencies. Withdrawal fees are not imposed by the marketplace, but some payment systems may charge between 1% and 5% transfer fees. Also, keep in mind that high-value transactions may involve additional verification.
One of the best things about the Quotex platform is that there are no fees, no matter what you do or what asset you trade on the platform. This binary options broker doesn't charge you any commission. There are no extra costs for depositing or withdrawing funds, meaning that you can start trading without any unplanned expenses. While some brokers charge inactivity fees, Quotex is not one of them.
The Quotes sign-in process is quite simple. To get started, you should first complete a brief registration. It simply asks for your email, a password, and the currency of your account. Once finished, click on the "Login" button in the top-right corner. Here, you will find two fields that require you to specify your login data. This is how you can enter your Quotex account and start trading. Additionally, you can download a mobile app on your smartphone and use it for quick and easy access to your account from anywhere.
For users' convenience, Quotex provides an app available for both Android and iOS smartphones. It enables you to execute trades and keep an eye on markets using a mobile device. The app is user-friendly, quick, and responsive. Additionally, it has all the functions of the web version, including the same methods for finding markets and carrying out transactions.
The Quotex web platform offers a free demo account so you can learn how to use various trading instruments before you put your own real money at risk. This is a great opportunity for people who are new to digital options.
The Quotex demo account comes with an amount of $10,000. This sum is quite enough to show you how things work. Demo account users can access multiple tools and trading features, including trade signals. However, the platform provides limited access to the news, trading tips, and other proprietary information during the trial period.
To help those who are new to binary trading, the platform offers various guidance videos, trading news, and insights into what other traders are speculating on, along with their results. Additionally, you can access trading signals, which are a trigger for action, either to buy or sell an asset based on several disciplines. Plus, there are analytics in your Quotex account, allowing you to determine areas for improvement and keep track of important indicators.
If you're a new client, Quotex offers you a trading bonus of 30%, provided that you make a deposit of $100 or more. This is a great perk for those who want to boost their invested capital. But keep in mind that this bonus cannot be withdrawn.
When it comes to real money, you should explore a trading platform you're about to use from all angles to make sure you know what you're going into. Here are some pros and cons.
Pros:
Cons:
Quotex is certified by the International Financial Market Relations Regulation Centre. However, it's not an official regulator, so many experts consider it to be unsupervised by trustworthy institutions. Therefore, it's recommended to be cautious when it comes to putting real money on risk.
When it comes to binary options trading, security measures are critical in terms of keeping your money safe. Of course, you want to trade with a binary broker that will protect you from data misuse and make you feel safe. Fortunately, Quotex is committed to maintaining a high level of security for its traders.
The company uses SSL encryption to prevent data breaches and ensure any sensitive information is not moving between dealers and the platform. Additionally, Awesomo Ltd, which is the mother company of Quotex, is a member of the IFMRRC. This membership is a significant contribution to customer security. First of all, the IFMRRC provides conflict resolutions if any precedents arise. More than that, it protects traders' assets, so they won't be withheld even if Quotex defaults.
When it comes to payments, they are 3D secure and use a code when transferring with Mastercard. Additionally, the platform doesn't disclose any personal information to third parties.
The Quotex trading process is quite simple. After you create an account and sign in, you need to take the following steps:
Trading always comes with risks, even if you use a reliable platform like Quotex. Before you start your trading journey, it's better to minimize all the risks you can prevent by paying attention to the following:
Quotex is a good trading platform for both beginners and seasoned traders. It makes the process easier by providing a range of assets and trading instruments. The platform offers pretty high returns, which can be up to 98% for some assets. You are not required to pay additional fees for deposits, withdrawals, trading, or inactivity.
However, some countries, including those in the EEA, the United States, and Canada, don't accept Quotex. Despite being a part of the IFMRRC, which offers fund security and dispute resolution, the platform is still not regulated by any government. As a result, you still need to use it with caution and thoroughly evaluate your risks.
Quotex has a membership in the IFMRRC and is backed by the center, meaning that you won't lose your funds, even if the platform defaults. However, this institution is not subject to any government and has no state regulation. Therefore, experts recommend using the platform cautiously.
You can make a withdrawal to your bank card, e-wallet, Piastrix, CoinBase, Binance Coin, and other methods. There are no additional fees charged by Quotex, but your payment system may set extra costs between 1% and 5% for processing your payment.
Quotex is mostly used in India, Mexico, and Algeria but is also available to residents of Serbia, Nigeria, Saudi Arabia, Turkey, and many other countries. The platform is unavailable in the USA, Canada, Indonesia, Hong Kong, EEA countries, and Russia.
Yes, Quotex has a demo account for $10,000, which is unlimited and free. It provides access to multiple instruments and tools to be as close as possible to real trading.
Whether Quotex halal or haram depends on the type of action you take on the platform. If the transaction you make doesn't involve any interest or leverage, it is considered halal. In contrast, if it's a leveraged transaction that comes with extra interest, it is considered haram.
Quotex is an online platform that works in compliance with India government regulations regarding binary trading. Therefore, it's considered legal.
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Trading in financial markets involves inherent risks. Contracts for Difference ('CFDs') are intricate financial instruments traded with margin. Trading CFDs presents a heightened risk due to the potential benefits and drawbacks of leverage. Caution is advised, and you should only invest what you can afford to lose. Before initiating any trades, it's crucial to thoroughly grasp the associated risks, considering your investment goals and level of experience.
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