Quotex Binary Options Broker Review – Is it Legit & Alternatives 2024

Quotex is an online broker that is particularly known for their binary options trading platform. Users can also trade cryptocurrency on the platform, in addition to a number of other trading securities like metals, oil, other commodities, stock indices, and more. 

It has been around since 2019, but in its short history, it has grown largely in popularity. Quotex has its own proprietary trading technology, which can easily be customized by traders to fit their investment goals and trading needs, as we’ll discuss throughout this review how the platform runs. 

There are 29 technical indicators, and a minimum deposit of just $10 to get started. Plus, they have 24/7 customer support, and two-factor authentication on all client accounts for added security. Many view Quotex as one of the best platforms out there for trading forex today, so let’s do an in-depth review to see if it truly is the best platform that’s fine-tuned for trading. 

Read more: Best Forex Robots 2024

Quotex Advantages

Let’s review some of the top advantages of Quotex as one of the best platforms for binary trading. 

Affordable Minimum Deposit

There is the very low minimum deposits on Quotex of $10, which makes the platform very accessible for most traders. So even if you aren’t starting with a ton of capital, you can get started with just a couple of bucks for your deposits and access some of the most modern technology available today. So, the deposit process is quite simple to start trading on Quotex. 

Easy To Use Trading Platform

The platform hosts an easy-to-use interface that is a good match even for beginners. Finding markets can be difficult as a newcomer, though Quotex is a good platform to start with. However, they do lack some of the trading indicators and trading tips that you can find when you’re trading assets on other platforms, especially with the demo account. 

No Account Fees, Trading Fees, and No Deposit, Withdrawal Fees

Another aspect that contributes to Quotex’s affordability is that they don’t charge fees on trades, deposits, or withdrawals, which many traders view as fair. So even when you enter new positions, make a trade, or buy and sell commodities, the company Quotex makes almost nothing. 

Up to 95% Maximum Payout

Another great aspect about Quotex is that the payouts are high, up to 95% of the value of the trade. This goes with the fact that the platform has very low fees, meaning you get to pocket nearly all of the profit earned on your trading. 

Quotex Features

Now we will cover some of the main features of the Quotex platform if you want to start trading on this great platform. 

Convenient Trading Platform Interface

It’s very easy to get started on Quotex, which many users like for its convenient trading interface, some of the most useful trading indicators, and innovative signals that help traders make good investment decisions. 

No matter the market fluctuations, indicators, or the trader’s personal taste, trading on Quotex is quite simple to get the hang of. 

Excellent Practice With Free Demo Accounts

Quotex will also provide you with a demo account on the same platform, so you can try out your trades and strategy on the demo account before going live with your actual money. So if you’re just getting started interpreting what the trading indicators mean and how to use existing trade information to make a trade, this great platform gives you the best method to try it out beforehand with no risk involved on the trade.  

Trading Integrated Signals Approach

The trading integrated signals approach is possible on Quotex. Using the features of the platform and with access to some of the most useful trading indicators, the platform hosts dozens of innovative signals that can help investors with any trade from these commonly-used indicators. 

Global Access

Plus, Quotex is an offshore business, so it can support a customer base from all around the world who want to trade binary options. This is one of the best platform options for consumers around the globe who are interested in companies where they can trade. 

Quotex Quick Overview

4.5 stars

Best Overall Value

• Great access to innovative signals and market news
• Low minimum deposit to get started without a ton of money
• Comfortable interface, even for beginner traders using the demo account

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Quotex Customer Reviews

Let’s take a look at some of the reviews by customers on TrustPilot. Please be aware of a note made by TrustPilot on this page, where they have detected an unusual amount of fake reviews on Quotex, which could be falsely inflating their overall score. In fact, some of the negative reviews showcase problems withdrawing money from their account, which is a major problem for traders.

Quotex is the best trading platform I have used with such a simple and easy to use interface. They have 0 withdrawal fees and help us to trade in almost all currencies and otc markets. I would recommend it to anyone who is new to binary trading.

Navaneeth

The most reputable binary options platform on the internet, Fast withdraw easy to use, fast support, amazing to be honest

Mohamed

Please don’t waste your money. It’s a scam and there is no way you can win with them. Don’t listen to anyone who is telling you that it’s a good platform. The chart is controlled by them and they will just drop it down or go up in the last seconds so you don’t win.

Stefan

The deposit and withdrawal of funds are the fastest among all the binary option brokers, in Quotex. Also, the terminal is great for technical analysis. there are no hidden charges as far as I have experienced to date. However, the addition of any kind of free tournament will help the new trader to develop trading psychology as well as earn rewards, which will be the cherry on the cake, on this otherwise great platform.

Anas

Quotex Service Review

So is Quotex a good fit for you as a trading platform? Let’s take a final review at whether it’s the best trading platform for you. 

Is Quotex Right For You?

Quotex has a convenient trading interface that is simple to use, even for beginners in forex trading. There are many different trading platforms out there, but the Quotex platform is one of the more trusted platforms. The way the platform runs smoothly and simply for beginners and experts is the main thing that draws users to the platform. 

Cost Value 

Given the low minimum deposit that Quotex charges, the simple deposit process is the main thing that contributes to the great value that Quotex provides to those trading on its site. 

Customer Service

Quotex has 24/7 customer support available to those trading on the platform, which is very convenient and helps give users the help they need on their account when they need it. Not all companies will offer this type of support, so trading on Quotex is a good idea if you want around-the-clock support like this. 

Ease of Use

Quotex is very user-friendly, so there is not a large learning curve to get started on the platform. Traders will like how easy their app is to use for trading from anywhere, with great data and charts to give you clear information and insights into the markets. Plus, there is no download required, so you can easily access this fine-tuned and user-friendly platform from your browser. 

Included Features

There are many great features on Quotex, including their highly-customizable and comfortable interface, great indicators, charts, data, and other trade tools that you can access from your account to build your strategy thoughtfully. 

Overall

Choosing the right trading platform will largely come down to the trader’s personal taste as the main thing to consider; however, Quotex is on the better end of platforms, with some of the most modern technology that you can find, especially if you want to implement an effective strategy trading indicators. 

2 Top Quotex Alternatives

	Pocket Option	IQ Option	Quotex
Minimum Deposit	$5	$10	$10
Demo Account
Rating	4.8	4.5	4.6
Detail	Read Review	Read Review	Read Review
Link	Visit Broker	Visit Broker	Visit Broker

Pocket Option

Pocket Option is another broker where you can trade binary options, and is a part of Gembell Limited Holding. The platform is mass-market requirements-based, so it has great services and account types in the OTC markets. Overall, Pocket Option tries to make trading easy, clear, and straightforward to provide a stable experience for users. 

IQ Option

IQ Option has been around since 2013, and has become one of the best platform options for forex and binary options trading. Many investors trust this platform given its long-standing history in the industry, especially compared to some of the other companies out there where you can make a trade account. 

Read more: Top 10 Best Binary Options Brokers & Trading Platforms 2024

Conclusion

Quotex is a good option for those who want to make an account and start trading forex, crypto, and other investment securities. Their platform is highly customizable, has an easy verification process, and features great signals, indicators, charts, and market news and data for you to make the best trade decisions. 

It’s important to know that making money by trading binary options is very risky and never guaranteed, so be aware of what you risk tolerance is before getting started. Think of your strategy thoughtfully, and know how a platform runs before you commit to one, even Quotex.

Frequently Asked Questions (FAQs)