One of the most popular brokers for binary trading, QUOTEX offers you attractive trading conditions, a variety of trading instruments, and a relatively high average profitability rate. It’s especially well-known for its support of cryptocurrencies: you can make deposits in crypto here and even use major coins for trading. To help you understand all the benefits it has to offer, we’ve analyzed its conditions and done some research of users’ reviews for this by Traders Union experts.
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About QUOTEX
Founded in 2019, QUOTEX is a relatively new broker, but it has managed to become one of the most widely known names in binary trading. The broker is focused on binary options, but there’s still a wide choice of supported trading instruments here: you can trade currency pairs, commodities, indices, and even major cryptocurrencies. That is one of the most interesting features of Quotex: you can trade actual Bitcoin with binary options, and we don’t need to tell you how profitable that might be.
Quotex offers an online trading platform that allows users to engage in various types of trading activities. Here are some of the services and features that Quotex typically provides:
- Financial Instruments: Quotex offers a range of financial instruments for trading, including currencies (forex), commodities (such as gold, oil, and silver), stocks, indices, and cryptocurrencies.
- Trading Platform: Quotex provides a user-friendly web-based platform where users can execute trades, monitor market prices, access charts and technical analysis tools, and manage their trading accounts.
- Demo Account: Quotex often offers a demo account option, allowing users to practice trading without risking real money. This feature is useful for beginners or those who want to familiarize themselves with the platform before trading with real funds.
- Mobile Trading: Quotex may offer mobile applications for trading on the go. These apps are designed to provide a similar trading experience to the web-based platform, allowing users to trade and monitor the markets using their smartphones or tablets.
- Educational Resources: Some trading platforms, including Quotex, may provide educational resources such as articles, tutorials, videos, or webinars to help users enhance their trading knowledge and skills.
- Customer Support: Quotex typically offers customer support to assist users with any questions or issues they may encounter while using the platform. This can include email support, live chat, or phone support, depending on the platform’s specific offerings.
Trading conditions
The broker provides pretty average trading conditions: the minimum deposit is just $10, but there’s no way you can use leverage with your trades. The fees are pretty low: there are no trading fees, and the deposits and withdrawals are also completely free (however, payment systems might charge their own fees). Algorithmic trading is strictly prohibited, and the only available option for passive investments is the broker’s partnership program that can be rather profitable. You can learn more about that program in our full Quotex broker review.
QUOTEX offers you its own proprietary trading platform and several account types, including a Demo account with $10,000 in virtual money. This broker’s training program isn’t very extensive, but you can still learn how binary options work and practice for a while. Unfortunately, that program doesn’t tell you anything about the most important methods of technical and fundamental analysis, so you will have to find that information elsewhere.
Traders’ reviews
The broker isn’t regulated by any financial authority, and that raises many questions about whether we should trust it or not. However, there are many reviews from its real users online who praise the asset choice, low spreads, and free withdrawals. According to Traders Union research, the broker seems to always pay in time, so it can be regarded as completely legit.