The interest of average Web users in digital assets is growing, exponentially. The market reacts to any demand unambiguously - it is flooded with offers. New brokers of binary options appear on the World Wide Web with enviable consistency, offering attractive trading conditions. One of them is the international broker Quotex .
Quotex in India, has a wide spread among traders, as well as in 249 countries. This means that this broker has clients from all over the world without any country restrictions, but this broker is not available for under 18 years old.
What is Quotex?
Online broker Quotex is a brand new trading platform, founded in 2020, which operates smoothly on the basis of modern technologies, offering to trade stocks, binary options, tokens - popular digital currency quotes, currency pairs, commodities (metals, oil).
A user-friendly interface, a wide range of assets, and uninterrupted operation are certainly important facts, but not the defining ones. Excluding, of course, the last advantage - functioning without delays. The developers have tried to provide their clients with a fast and clear platform for trading.
With this broker, traders get one of the highest payouts in the industry, being able to reach 95% more after making a trade on Quotex binary trading with a positive result.
So far, binary trading on this platform is short-term, ranging from one minute to four hours. This is the same as what its competitors offer in the market. However, the developers are working to offer longer transactions to be even more competitive, and continues to be one of the first options for users.
Quotex review will allow everyone to familiarize themselves with the platform and see the functionality.
Pros and cons of trading on Quotex
Like any trading platform, Quotex has its advantages and disadvantages, among competitors. For every professional trader, the presence of disadvantages, does not mean that the platform is not suitable for use, under each disadvantage, implies the work of management, which in the end, will be designed for the taste of each user.
The pros of choosing this broker, include:
- A deposit available to any user (in the amount of $10);
- The ability to deposit and withdraw funds from the account, no fees, no fees;
- Simplicity and accessibility for users from all over the world.
- Availability of a welcome bonus in the form of a percentage of the deposited amount from $50 to $300, the bonus amount starts at $10 and ends at $106.
The platform also has a number of minor drawbacks:
- Can not withdraw the deposit bonus (the bonus amount can only be used in trading, and if the transaction was successful, the winnings can be withdrawn from the account);
- No training block.
Is Quotex safe or is it a scam?
With the recent pandemic forcing people to stay home, trading has become the perfect way to make money in the safety of homes. It's not the most stable source of income, but it was still gaining popularity even before the pandemic.
Quotex is legitimate and has the right to provide its services to traders. The broker is a member of the International Financial Market Regulatory Center. IFMRRC is a third-party company that regulates brokers based on its reliability and services.
Quotex also prioritizes the security of its users. The website is SSL certified to protect any data you share with the broker. This includes your personal information and bank or card details.
FMRRC regulations are not a ruling of an official financial authority, it is an international and independent regulator. Also, Quotex is an official company with company ID: 226716. It seems that Quotex is a safe broker for investing. In addition, only safe and regulated payment methods are used for deposits and withdrawals.
Quotex Demo Account
To practice and learn the features of the platform without risking personal funds, Quotex offers to open a free demo account and download a demo version of the terminal (option trading training). A trader is given $10,000 in dummy funds for trading.
The demo account is absolutely free and provides several functions.
Firstly, using the demo account, the trader can get acquainted with all the functions of the platform, as it is a full copy of a real account and the terminal. All quotations are provided in real time mode.
Secondly, using the demo account, a trader can practice choosing a trading strategy. In real time, the trader can open trades and check their profitability.
Demo account is an example for beginners and a weapon for professionals to grasp new heights in trading.
Types of Quotex accounts
This platform has two account types for its clients:
- Demo account;
- Real account.
A Demo account is a full copy of trading account, with all assets, tools, and most importantly with fictitious funds, in the amount of 10000 dollars. Thanks to this, a client can not only practice possible strategies, but also try trading without using his own funds.
To open a real trading account, a trader needs only to register and deposit. After that, the client can enjoy profitable trading.
Leverage is a brokerage service that is a loan of money or securities provided to a trader for a trade. The size of the loan can exceed the amount of trader's deposit by 10, 20, 100 or more times. By analogy with the law of physics leverage, as a leverage, gives the trader an opportunity to make deals that would be impossible for him to make with his own funds only.
Transactions at the exchange with the use of leverage is called margin trading. It is the conclusion of purchase and sale transactions using borrowed funds pledged against a certain amount, which is called a margin. In other words, to use the service of leverage, it is necessary to have a minimum amount on deposit (set by broker), which will be a pledge.
This platform does not offer trading with leverage at the time of writing this article, but that does not mean that there will not be changes in the future. The developers are trying to improve the platform all the time, based on the wishes of its users.
Opening an account
In order to become a client of Quotex, you need to register and create an account by going through two-phase authorization and verification. Trading with this broker is available to traders from all over the world, so you just need to get started.
It only takes a few minutes for a trader to sign up with Quotex in India. To create an account, you need to follow the following instructions:
- visit the registration tab;
- enter the requested data (active e-mail address and password);
- choose the desired account currency (later, the choice can be changed in the personal cabinet);
- accept the user agreement by ticking the checkbox;
- confirm account creation.
After registration, the client can immediately confirm the e-mail address in the personal cabinet, as well as go through verification. Or go to the demo trading, in order to explore all the functionality of the platform.
A nice feature of this platform is the absence of commissions and fees. The client can deposit and withdraw his account without paying commission to the broker. However, one should consider that the payment systems may charge their commissions and use the internal exchange rate.
To find out if the bank or payment system charges a commission, please contact the client support of the organization directly.
This platform claims to be more than just a project for traders. The developers' goal is superior because they have advanced financial tools so that as many people as possible can develop their financial and business trading skills.
An option is a derivative financial instrument based on any underlying asset such as a stock, currency pair, oil, and so on.
When making a trade on an option, the trader must choose an underlying asset which will be the basis of the option and the prediction will be made on that asset. To put it simply, by buying a digital contract, the trader is actually betting on the price movement of such underlying assets.
The underlying asset is an asset whose price is taken into account when making a deal. The underlying assets of the trade options are usually the most popular products on the markets (raw materials, indices, securities, currency pairs, and so on).
There is no universal underlying asset, so it is up to each trader to determine it for himself. When choosing it, the trader may use only his own knowledge, intuition and various analytical information, as well as the market analysis for a particular financial instrument. In this case trading will be successful.
Quotex has a responsive, user-friendly, well-structured and fast interface. The platform is very easy to understand as everything is clean and clear in front of the trader, firstly, this platform is web based so no download is required, secondly, it is fully customizable to the customer's taste and finally it is simple. The trader has one-click access to all the functions.
The main objective of the trading platform is to provide traders with a comfortable and effective opportunity to trade. Quotex offers asset price charts for different tastes as well as all possible tools for profitable trading.
The financial assets market is the place where the contractual right for some form of buying and selling is established. This is usually characterized by the liquid nature of the asset or how quickly it can be converted into cash and includes such financial assets. One of the unique properties of marketable assets is that it does not necessarily have any direct or linear relationship to real physical value, such as land, jewelry or art.
Trading conditions in the financial asset market are subject to fluctuations due to a multitude of sometimes seemingly unrelated market conditions. Asset values tend to rise to levels that exceed true value or lose value.
The asset markets that are available to Quotex clients include:
- indices and stocks;
- digital currencies;
- currency pairs.
Each of the markets has a large number of assets, allowing the trader to trade in a variety of ways and develop their skills in many directions.
When a trader or investor invests with Quotex broker, they can choose from more than 400 assets available for digital trading:
- Currencies: you can choose from over 40 types of currencies.
- Cryptocurrencies: the main digital currencies leading the market.
- Indices and stocks: Dow Jones, SP500, Intel and other.
- Commodities and precious metals: Oil, Gold, Silver.
For traders, trading in currency pairs, digital currencies, commodities and stocks is available. The client can change the trading direction without changing the broker, using one deposit due to a great variety of assets.
Quotex broker offers its clients the choice of account currency at the moment of account registration, but it is possible to change the currency during trading without paying conversion fee.
Also, it is worth noting that newcomers to the trade will not need to make a huge deposit, because quotex minimum deposit in India is only 10 dollars.
What would make a deposit, the client platform, you need to do the following steps:
- Click on the "Deposit" button (you can find it in your personal cabinet or in the deal execution window).
- Choose from given options method of deposit.
- Choose the currency you wish to deposit the funds in.
- Specify the deposit amount.
- Fill in the form by entering the requested payment data.
- Make the payment.
The client will be able to withdraw the profit in the same way that he used to replenish the account. The company provides its customers, the following methods of deposit and withdrawal:
- Credit card;
- Bitcoin Cach;
- Perfect Money;
- and others.
It is worth noting that when it comes to withdrawing a sufficiently large amount of money, the platform may request verification. This process is carried out in order to prevent actions related to illegal trading, financial fraud, as well as the use of funds obtained illegally.
Also, important information is that the minimum withdrawal amount starts at $10 for most payment systems. For digital currencies this amount starts at $50 (and can be higher for some currencies such as Bitcoin).
Spread is the difference between a broker's buying and selling rate when exchanging currencies in the forex market. For example, let's consider a trader who wants to buy currency A. You cannot trade a single currency in the forex market. Rather, there will be an additional currency in the pair so that the former will be the base currency and the latter the quote currency. Usually the base currency has more weight than the quoted currency, so the exchange rate is always positive.
For example, USD/CAD or in the currency pair U.S. Dollars and Canadian Dollars, USD is the base currency and CAD is the quoted currency. Its exchange rate would be about 1.2000/1, which means that if you spend $1.2000, you will get $1 worth of CAD. Now, as for spreads, let's assume that you are a broker. If you want to buy U.S. dollars (the base currency) in exchange for Canadian dollars (the quote currency), you have to pay $0.8333 CAD to get $1. Likewise, when you sell the base currency in exchange for the quoted currency, you will earn about CAD$1,2000 per USD$1.
The difference between the exchange rates between these two values will be considered the spread and will be denoted in pips. It will vary from one currency pair to another, as well as from price movement. Just to make sure that you are aware of all that is involved in changing spreads, here are some of the factors that affect the total cost.
The first factor that spreads will depend on is the rates charged by the broker concerned. It will include both the buy price and the sell price, so it is very important to consider the changes.
Time of day.
Second, spreads will also depend on the time of day during which a trade is initiated. For example, trading spreads are usually high just before midnight because most intraday traders close their positions at that time.
In addition, market volatility is another factor that affects the spread. When the price starts to move against a given forecast, most traders will try to sell their assets to avoid incurring losses. Likewise, when the price rises, they will buy assets. Since the circulation of currency pairs and coins in the liquidity pool will be different, so will the spreads.
Spreads and commissions are not the same thing, so you should know the difference before you start trading on the Quotex platform. For your convenience, we've made a distinction between the two that will help you understand how much you may have to pay for each trade or transaction.
- The spread is the difference between the broker's buy and sell rates. On the other hand, a commission is charged on most of the transactions you will make on the broker's platform.
- In addition, spreads will vary depending on market volatility, but usually commissions are constant and not subject to market changes.
- You may have to incur some losses if the spreads are quite long, but as far as commissions are concerned, you will not have to incur losses.
Customer support on this platform works without interruptions or weekends.
- Support is available 24/7.
- Operators answer in more than 15 languages.
- No online chat on the site and in myAlpari.
- No contact by phone.
- Responses by email are received within one business day.
- Company representatives prefer to communicate with unregistered users via email.
Traders can contact support:
- by e-mail (via the ready form on the website or by email);
- by creating a ticket in the Personal Cabinet;
- by writing in Telegram.
The company has profiles on Instagram, Facebook and Twitter.
Is Quotex legal in India?
Yes. The platform is regulated so that every trader in India can use the platform without worrying about security.
Is Quotex legit or fake?
The trading platform has a huge number of traders who have experienced all the features of Quotex. In order to see for yourself, you can find reviews and customer reviews on the internet.
Compared to other binary options brokers, Quotex currently enters the volume on the market. There are no restrictions or limits for trading. The return (profitability) of the investment is very high and the withdrawal works quickly.
The Quotex platform offers a variety of trading assets, financial indicators and tools, and chart settings to show great results. Fast quote updates, team support, bonuses and more. Summing up all the benefits of an efficient and user-friendly environment for all users, Quotex has created a complete platform to enjoy the trading experience.
Overall, Quotex is a reliable broker for binary options trading. It is not a scam for your money. Quotex is a very good way to bet on markets with limited risk and high payout.
The platform works very well and is easy to use. It is recommended to use a demo account first before depositing money. Also, the minimum deposit is very low and you can start with a minimum transaction amount of just $1. Quotex offers you to make quick money in the markets.
Quotex is a binary options trading platform, also known as a digital options trading platform, with a fast, responsive and user-friendly interface with no country restrictions that can fit every trade with the ability to customize every single part of the chart in addition to drawing tools and indicators and motivational payouts.
Register on the platform right now, get welcome bonuses on deposits, learn and trade, together with Quotex. All a trader needs is to register, create a personal account, make a deposit and start trading, taking the opportunity and improving your skills.