About Quotex
Company Overview
Quotex is an online trading platform registered in Saint Vincent and the Grenadines, with its corporate address at First Floor, First St Vincent Bank LTD Building, James Street, Kingstown. Founded on November 20, 2020, the broker has been operating for several years in the retail forex and CFD space.
The broker's official website is quotex.io, and it maintains a presence on social media platforms including Facebook, Instagram, Twitter/X, and YouTube. Quotex describes itself as a trading platform offering various financial instruments.
Regulatory Status
Quotex is not regulated by any recognized financial authority. The broker is registered in Saint Vincent and the Grenadines, a jurisdiction known for limited regulatory oversight of financial firms.
This lack of regulation means there is no external oversight of the broker's operations, client fund segregation, or dispute resolution mechanisms. Traders should consider this as a significant risk factor when evaluating the platform.
Trading Instruments
Quotex offers trading in multiple asset classes, including currency pairs (Majors and Exotics), stock CFDs, cryptocurrencies, metals like gold and silver, and oil & gas commodities. This multi-asset offering allows traders to diversify their portfolios within a single platform.
The broker does not specify the exact number of instruments available, but the categories suggest a broad range of choices. Leverage and trading conditions are not detailed in the available public information.
Account Types
Quotex provides a demo account with virtual funds for practice trading. This feature is aimed at beginners and experienced traders who wish to test strategies without risking real money.
For live trading, the minimum deposit is $10, making the platform accessible to retail traders with small budgets. No additional account tiers (e.g., silver, gold, VIP) are mentioned in the known facts, suggesting a straightforward account structure.
Funding and Withdrawal
The minimum deposit on Quotex is $10. However, specific deposit methods (e.g., credit card, e-wallets, bank transfer) are not listed in the available data. Similarly, withdrawal procedures and processing times are not publicly detailed.
Industry databases and user feedback have indicated difficulties with withdrawals, which is a common concern for unregulated brokers. Traders should exercise caution and research thoroughly before depositing funds.
Customer Support
Quotex advertises 24-hour customer support to assist traders. The support channels (e.g., live chat, email, phone) are not specified in the known facts.
The broker's social media presence suggests multiple avenues for reaching out, but the responsiveness and quality of support are not independently verified. Given the unregulated status, responsive customer service is crucial for resolving potential issues.
Risk Considerations
Quotex carries a high fraud risk score of 75/100 (Severe) according to FXCanary's assessment, primarily due to its unregulated status and negative user reports regarding withdrawal difficulties. The lack of regulatory oversight leaves traders without recourse in case of disputes.
The broker's registration in Saint Vincent and the Grenadines, a jurisdiction with minimal financial regulation, further amplifies the risk. Traders are strongly advised to consider these factors and conduct independent due diligence before engaging with the platform.
Overview compiled by FXCanary from regulatory records and public data. full Quotex review