Quotex Review – Be on the Lookout for Quotex.io Multiasset Forex Broker
Broker status
|
Offshore Broker |
Regulated by
|
No Regulation |
Scammers Websites
|
www.quotex.io |
Blacklisted as a Scam by
|
Spanish CNMV |
Owned by
|
Quotex Ltd |
Headquarters Country
|
Seychelles |
Foundation year
|
2019 |
Supported Platforms
|
WebTrader |
Minimum Deposit
|
$10 |
Cryptocurrencies
|
Cryptos, Forex (FX), Commodities, Indices |
Types of Assets
|
Available (BTC, ETH) |
Maximum Leverage
|
N/A |
Free Demo Account
|
Yes |
Quotex Review – The Truth About Quotex.com Brokerage Scam
We were able to see the Quotex broker website and it was clear that they don’t care about transparency. The website has no tabs and is poorly designed. Some of the most important information is however missing.
Let’s take a look at our trusted Quotex review to see what the broker tried hiding.
Information about Quotex Regulations and Licensing
Quotex Ltd is said to be the brand behind Quotex. We couldn’t locate the company in any register so we don’t know if it exists. We tried to solve the question, is it a registered broker?
Questions about the Quotex License and Regulation
Their website states that Quotex regulation has been approved by IFMRRC. However, after looking at their register and some Tier 1 regulators like ASIC, FCA, and BaFin, it is clear that this company is neither regulated nor licensed under any jurisdiction.
Scam Warnings against Quotex
The Spanish regulatory body, CNMV, issued an advisory (28.06.2021) warning that Quotex had issues with its local licensing and regulation. Anyone who was scammed should file a complaint immediately.
Quotex Platform Review – Trading Software
We also took a look at the Quotex platform, just to view a TradingView chart. It was disappointing. This chart has fewer indicators that some of the other crypto exchanges we have seen. Some primary trading conditions, such as spread and leverage, are not disclosed.
We were also confused by the fact that instead of traditional Buy and Sell positions, brokers offer Up and Down options. This might be very disturbing for those who have grown accustomed to seeing a standard platform.
Quotex Web Trading Platform
The broker web trading platform is nothing more than a TradingView chart. It only has two indicators and does not look like MT4 nor MT5. A MetaTrader is a broker that offers real trading experience.
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Quotex Mobile App: Is Mobile Trading Possible?
Mobile trading can only be done via the internet and not through the trading app. This shouldn’t surprise since the broker didn’t even attempt to create a platform but simply took a chart and attached it on its domain. The platform can be accessed from any web browser. This includes both Android and iOS devices.
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FAQ
- What is Quotex?
It's an online trading platform that operates from Seychelles, and is not regulated.
- Are Quotex licensed and regulated?
This brokerage is not licensed or regulated and should be avoided. Be aware of possible fraud and withdrawal problems!
- Is Quotex a fraud or legit?
Broker is not licensed or regulated. Avoid falling for a scam twice before you take any risk with your money.
- Are my funds safe with Quotex?
Quotex broker is not regulated so your funds may not be safe.
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