Traders Union experts presented the results of their research related to Quotex and its conditions. Binary trading can be extremely profitable, but you should find a reliable broker first. There are several important aspects you should consider: trading conditions, fees, regulations, deposit limits, and others to make sure your choice can really be trusted. But if you don’t feel like comparing dozens of brokers, there’s actually a simpler way to find a reputable one: just read reviews by other traders online.
QUOTEX is an international broker that specializes in binary trading. The broker allows you to choose among different kinds of assets, including fiat currencies and cryptocurrencies, metals, indices, and so on. You can earn up to 90% of your option’s value, and that’s a relatively high profitability rate even by the standards of binary trading. QUOTEX has its own proprietary trading platform, but you can choose to trade through its convenient and novice-friendly mobile app as well.
The broker’s trading conditions are not very different from what other binary brokers offer. The deposit you need to start trading is pretty small: just $10. You can deposit money in many different ways like a debit card or any payment system, and the broker also accepts crypto. QUOTEX also has a quite high binary option welcome bonus for new users: you can get up to 30% of your first deposit, but only if it is larger than $100. The broker also has other bonuses you can benefit from.
QUOTEX features a demo account with $10,000 in virtual money, and it’s great for novices: use it with the broker’s educational program to get the best results. Withdrawals are pretty slow (up to 3 working days), but there are no withdrawal fees. You must know that you might be asked to verify your identity before you can withdraw large sums. All in all, the broker provides decent conditions that can be quite attractive even for novice traders. Let’s see what real Quotex reviews say about them.
What traders say
Traders seem to be mostly content with what this broker has to offer. They praise low spreads, simple and cheap withdrawals, and many analytical tools available for traders. While Quotex is not regulated, it seems to fulfill its financial obligations, and it’s perfectly legit according to Traders Union surveys.