Quotex is an online binary options broker operated by Maxbit LLC. The platform is known to be a straightforward, minimalist trading venue with a focus on accessibility for novice traders. While it lacks some of the deep market analysis tools offered by larger competitors, Quotex appeals to traders who prefer a clean interface, quick execution, and a no-frills approach to short-term trading.
Platform and Trading Experience
The platform interface is designed for simplicity, displaying a real-time chart, trade placement panel, and asset selector in one view. Binary options are executed in the standard “high/low” format: select the asset, choose the amount to trade, set an expiry time (from 60 seconds up to four hours), and decide whether the price will rise or fall by the time it expires. The typically payout ranges from 70% to 95% depending on the asset and market conditions.
While there are some technical indicators (MACD, RSI, Moving Averages) serious chartists will likely prefer doing most of their analysis on an external charting platform like TradingView before placing trades on Quotex, or pick a broker that offers a more substantial platform for technical analysis.
Assets Offered for Binary Options
Quotex offers over 100 assets, split into:
- Forex currency pairs (majors, minors, and exotics)
- Cryptocurrencies
- Commodities (e.g. gold, oil, silver)
- Stock indices
- Individual stocks
Examples of available forex pairs
EUR/USD, GBP/USD, USD/TRY, USD/MXN
Examples of available cryptocurrency
Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Ripple (XRP)
Examples of available commodities
Precious metals, such as gold and silver, and energies such as Brent Oil.
Examples of available individual stocks
Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Tesla (TSLA), Netflix (NFLX), Meta (META), and Alphabet (GOOGL)
Binary Options Payouts
Payout rates are competitive for the industry, particularly during peak market hours. However, payouts on less-liquid assets or during off-market hours can be noticeably lower.
Deposits and Withdrawals
Quotex supports a range of payment methods, including credit/debit cards, bank transfers, cryptocurrency transfers, Piastrix, and e-wallets like Skrill, Neteller, and Perfect Money. In certain jurisdictions, PayPal is available. Coinbase Commerce (Coinbase’s Merchant Platform) can be used for cryptocurrency transfers.
The minimum deposit is typically $10, which makes Quotex accessible for traders who want to start small.
Withdrawals from Quotex are generally processed within one to three business days. Cryptocurrency withdrawals tend to be faster, often within 24 hours. The broker does not usually charge withdrawal fees, but make sure you read the fine print in advance.
What is Piastrix?
Piastrix is a digital payment platform and payment gateway based in Russia. A majority of its clients are found in Eastern Europe and former members of the Soviet Union, but Piastrix has also become quite popular among global binary options traders who are using binary options platforms based in countries with lax regulatory broker supervision.
Piastrix support several currencies, including EUR, USD, and RUB. Cryptocurrency deposits and withdrawals are also possible.
Piastrix is known for its low fees and flexible APIs.
It is lightly regulated compared to platforms like PayPal.
What is Perfect Money?
Perfect Money is a payment system and e-wallet that has been around since 2007. It is lightly regulated, even compared to Piastrix. Just like Piastrix, Perfect Money is popular among users who access trading sites and betting sites based in lax jurisdictions. Perfect Money offers a comparatively high level of privacy and anonymity, and can be funded with both fiat currency and cryptocurrency. There is support for several currencies, including USD, EUR, and Bitcoin (BTC). You can also hold your account balance in digital gold.
Regulation and Trust
Quotex is owned and operated by Maxbit LLC, which was incorporated in Saint Vincent & the Grenadines (SVG) in the early 2020s.
Quotex operates with a license from the International Financial Market Relations Regulation Center (IFMRRC). This is not the financial authority of Saint Vincent & the Grenadines. Instead, it is an independent business that offers licenses with minimal oversight.
With Quotex, trust is built mostly on user experience, because there are no robust regulatory guarantees. Quotex is not supervised by any government-level financial authority with strong trader protection rules.
Reports from traders suggest that withdrawals are generally processed as promised, but some have reported difficulties withdrawing funds. A recurring problem is that when a customer does run into a withdrawal issue, the customer support has a tendency to start out very active but become more and more unresponsive as the trader continues their efforts to resolve the issue and obtain their money.
The platform has also been criticized for misleading marketing, e.g. for claiming to offer “87% accurate trading signals” to retail traders without any verifiable evidence or explanation of methodology.
The IFMRRC
The International Financial Market Relations Regulation Center (IFMRRC) is a business that offers licensing to brokers and trading platforms. It is not considered a reputable license giver with strong trader protection.
None of the official IFMRRC sites provide any information about where the IFMRRC is based, how it can be reached by phone, what the licensing actually entails, or how the IFMRRC is structured.
Examples of sites tied to the IFMRRC: ifmrrc.co, ifmrrc.com, and ifmrrc-global.com
Examples of email addresses to the IFMRRC: General Question info@fmrrc.com, Customer Support Service support@fmrrc.com, Claims Consideration claim@ifmrrc.com, Certificate Application certificate@ifmrrc.com
Several of the trading platforms that operate under an IFMRRC license has been flagged by official regulators in Europe (including Poland, France, and Spain) for alleged fraudulent activity.
Unverified claims link the IFMRRC to a scam where traders are asked to pay a fee when they report a misbehaving broker and apply for compensation from the IFMRRC. The fee is then allegedly kept by the organization and not compensation is paid out.
Strengths and Weaknesses
Strengths
- Very low minimum deposit ($10)
- Clean, beginner-friendly interface
- Competitive payout percentages during active market hours
- Broad range of deposit and withdrawal options, including cryptocurrencies
Weaknesses
- Regulated by the IFMRRC
- Limited built-in charting tools for advanced analysis
- Strong focus on short-term trading
Why Are Traders Choosing Quotex?
Quotex appeals to traders who want a low-cost entry into binary options without sacrificing payout potential. With a minimum deposit of just $10, it’s accessible for beginners and those who prefer to start small when trying out a new platform.
The platform keeps things simple: fast execution, clear trade setup, and a clean interface that doesn’t overwhelm you with features.
Payouts can reach up to 95% during active market hours, putting Quotex on par with or above many competitors in terms of potential returns. Combined with a wide selection of forex pairs, commodities, indices, and cryptocurrencies, it offers enough variety for traders to shift between markets without juggling multiple accounts.
Quotex is a good fit for traders who value flexibility in funding. With support for bank cards, e-wallets, cryptocurrencies, and in some regions PayPal, it’s easy to move money in and out, especially for those who prefer crypto withdrawals for speed.