Quotex Review

Quotex is an easy-to-use web-based binary options trading platform. It provides users access to trades in various assets, from forex to cryptocurrencies. It sports a clean visual style that makes trading very intuitive. You get your trading interface on the right side of the screen with easy up-down trade placement options. The panel also includes controls for the amount of investment you want in the trade and the length of the trade contract. The panel also indicates your max potential payout. As most trading platforms go, the main candlestick chart is at the center of the screen. Other chart options include bars, Heiken Ashi, and area.

The user interface is very intuitive compared to other trading clients. In fact, you can easily access all of its features in just a few clicks, from depositing and entering trades to updating your account and making withdrawals. Also, you can easily browse and choose assets by clicking the blue plus button on the upper-left side of the screen. Options include currencies, crypto, commodities, and stock indices. Also, you can have multiple trading assets pinned at the top of your screen so you can easily trade in multiple markets at the same time. They also indicate the payout ratios for trades available to trade contracts with the length of five minutes and up. The payout ratio for each asset, however, can differ depending on the length of the contract.

Furthermore, Quotex offers a wide variety of trading analysis tools like other top binary options trading platforms.  These include trend indicators like Bollinger Bands and Parabolic SAR and oscillators like MACD and Williams %R. These indicators can be easily customized. You can change their parameters and customize the way they appear on the screen (e.g. color, width, etc.). Also, as good trading platforms should, Quotex also provides drawing features, ranging from simple trend lines and trend angles to Gann Box and Fibonacci Replacement plots. In this way, traders can choose the right tools to fit their trading style.

The Quotex platform is also available on mobile devices through its native applications for both iOS and Android operating systems so you can monitor your account or even trade on the go.

The website services are not available in a number of countries, including USA, Canada, Hong Kong, Germany, Indonesia, Spain as well as for persons under 18 years of age.

Most binary trading platforms are more or less the same. But, each broker tries to provide something different that makes them unique. Others do this by including more assets, creating custom trades, and/or providing custom trade analysis tools. Quotex mainly does this by making trading very easy on the platform. Here are a few unique features that make Quotex a go-to binary trading platform for its users.

Quick Trading Signal

On the left-hand side of the trading screen, you can find a “probability meter” that acts as a general trading signal. It shows the likelihood of the price of an asset going down or up. This gives traders, especially novices, a good clue of where they can position their trades. Surely, this might not be the most accurate or technical indicator. It’s because the meter stays the same even if you change the timeframe of your chart. However, it can be enough for scalping or trades in under five minutes. This maybe one of the best tools out there for new traders.

“Double Up” Option

Once you have placed your trade on Quotex, you have an option to “double-up” on your position multiple times before the time expires. So, if you see that the price is rising and you are confident that it will do so until your set time, you can trade a similar position by clicking the double-up button at the bottom of your trade. We say similar position and put double up in scare quotes because clicking double up does not modify the amount of your previous trade. It just creates a new trade at the current price point. So, in essence, you double up on your guess but not necessarily on the potential profit of your initial trade. This is because the new trade (if you placed it while the price is going up) opens at a higher price. Maybe, the only way to double up your profit is when you “double-up” at a lower price. The benefit of this, however, is that it makes trading the same position a little bit faster.

Expiry Time Options

Quotex allows its users to create their own trades by letting them set the expiry time. This can easily be done by choosing and adjusting the time on the right-hand panel of the screen. It has a minimum time of one minute and a maximum time of four hours. You can also place pending or future trades with a set timeframe and investment amount.

Demo and Live Accounts

Also, you can easily switch from the demo and live accounts on Quotex. This allows you to simulate your actions in actual trading conditions before you make live trades even if you already have funds on the platform. A simple feature like this can be very helpful to risk-averse traders.

Pros

• Free membership
• Demo account with $10,000 virtual currency
• Simple web trading platform
• Create your own trades. Set the amount of investment and trade expiry on your own.
• Access markets when they open and close
• No minimum balance after the initial deposit
• Probability meter for intuitive binary trades
• Quick double-up button to trade a similar position
• Wide variety of assets from forex to cryptocurrency
• Easy-to-use advanced drawing tools
• Customizable trend indicators and oscillators
• Payouts can reach up to 98% of investment

Cons

• Non-regulated
• No leverage
• No phone and chat support (mostly available on the website and at support@quotex.io)
• Withdrawals can take up to five days (however, Quotex strives to make same-day withdrawals possible)

Platform type: Quotex

Platform Languages: English, Spanish, German, French, Russian, Chinese, Italian, Turkish, Arabic

OS Compatibility: Mac OS, iOS, Windows, Linux, Android

Streaming News Feed: No

Email Alerts: No

Mobile Alerts: Yes

Located in: St. Vincent and Grenadines

Website: https://financesonline.com/see/quotex/

Founded in: 2020

Accepts US Clients: Yes

Phone number:

Email:

Commission:

Minimum Deposit: $10

Payouts Percentage: Variable

Deposit Options: Credit Card, Debit Card, Bank Wire Transfer

Withdrawal Options: Credit Card, Debit Card, Bank Wire Transfer

Payout Ratios: Payout ratios vary for every asset of its type. For instance, payouts for different currency pairs in forex can vary from 36% to 88%. Moreover, payout percentages can also differ depending on the length of the trade contract. More often, the payouts of five-minute trades and up are higher than those in a shorter timeframe. Payout percentages are pinned on every trading asset with an unmistakable dark orange color.

Forex, Metals, Oil, Gold, Indices, Commodities

Customer Support Languages: English, Spanish, German, French, Russian, Chinese, Italian, Turkish, Arabic

Customer Service Hours: Customer service is available via contact form and email 24/7. Contact vendor for more info.

Place Trades Over the Phone?: Yes

Quotex offers the following trade types:

• Instant Binary Option Trades
• Pending Binary Option Trades

Also, it has a “double-up” feature where you can place a new trade similar to the position of your initial trade but at the new current price point. It has the same cost to enter with the same expiry time as your initial trade but it’s under the current price.

Quotex members have essentially two types of trading accounts under one name. One is for demo trades and the other one is for live trading. You can access them both in a single session. This allows traders to simulate actions in current conditions before jumping in with live trades. Like other binary options platforms, registration is free and so is the demo account. Once new users get the hang of binary trading on the Quotex platform, they can deposit funds for live trading. Also, users can deposit and withdraw funds via bank transfers, epayment solutions, and even cryptocurrency, including Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, and Coinbase. Also, it supports Visa/Mastercard transactions.

Demo Account

• Registration: Free
• Virtual Currency: $10,000

Transaction Information

• Minimum Deposit: $10
• Minimum Dollar Withdrawal: $10
• Minimum Bitcoin Withdrawal: $50
• Withdrawal Time: 1-5 working days
• No Transaction Fees (third-party solutions may do)

Quotex works hard to make payments on the same day the withdrawal transaction has been made. Also, depending on the value of transactions, verification may be required. Most of the time, however, no extra verification is needed. Lastly, there is no indication of a minimum maintenance balance.