Does QUOTEX pay? QUOTEX withdrawal guide
If you're considering using QUOTEX for trading, it's essential to understand how to withdraw your funds efficiently and effectively. So, in this review, the experts at TU have highlighted a step-by-step guide to help you navigate the withdrawal process, including information on available withdrawal methods, supported currencies, transaction speed, and associated fees. By the end, you'll have a thorough understanding of how to withdraw your funds from QUOTEX.
To withdraw funds from QUOTEX:
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Log in to your account
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Navigate to the withdrawal menu
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Choose a payment method
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Enter the payment address
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Submit the withdrawal request
If processed successfully, the funds should reflect in your account within the stipulated time period.
Key points from the article
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QUOTEX allows withdrawals via Visa/Mastercard, bank transfers, electronic payment wallets like Perfect Money and Piastrix, as well as cryptocurrencies like Bitcoin, Ethereum, etc.
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Withdrawal processing times range from 1 hour for card payments to 5 days for bank transfers. Cryptocurrency withdrawals are typically instant.
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Fees range from 0% for cryptocurrencies to 5% maximum for card withdrawals. Bank transfer fees vary depending on the method.
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The minimum withdrawal amount is $10 for most methods and $50 for cryptocurrencies. Large withdrawals may require identity verification.
QUOTEX withdrawal methods, speed and fees
The experts have prepared the following tabular guide for the various withdrawal methods, alongside their respective speed and fees.
| Method | Speed | Fee |
|---|---|---|
| Visa Card | Up to 60 min | 5% |
| MasterCard | Up to 60 min | Up to 5% |
| Local Bank Transfers | Up-to 5 working days | Varies |
| Bitcoins | Instant | No fees |
| Altcoins | Instant | No fees |
| Ethereum | Up to 60 min | No fees |
| Stablecoins | Up to 60 min | No fees |
Withdrawal methods: Options include Visa and Mastercard, electronic payment systems (e.g., Perfect Money, Piastrix, FK Wallet), and various cryptocurrencies (e.g., BTC, LTC, ETH).
Fees: QUOTEX does not impose withdrawal fees. However, payment systems may charge fees ranging from 1-5% on transfers.
Processing time: Withdrawal requests are usually processed within three business days.
Minimum withdrawal amounts: The majority of payment systems have a minimum withdrawal amount of $10, while cryptocurrencies require a minimum of $50 (with higher minimums for specific currencies)
Withdrawal duration: The withdrawal procedure generally takes between one to five days.
Verification for large withdrawals: QUOTEX may ask for verification for sizable withdrawals, but the exact threshold is not specified on their website.
Electronic payment options: AdvCash, Perfect Money, and MoMo Wallet are among the available electronic payment systems.
How to withdraw money From QUOTEX
The experts have highlighted the following step-by-step guide to withdraw money from your QUOTEX account:
Navigate to the withdrawal menu: Log in to your QUOTEX trading account and find the withdrawal menu option.
Withdrawal menu
Select the payment method: Choose the payment method for your withdrawal. Remember, you need to use the same payment method for both deposit and withdrawal on QUOTEX. If you wish to change the method, contact customer support for assistance.
Payment method for withdrawal
Enter your payment address: Provide the payment address (also known as the purse) for the selected withdrawal method. For instance, if you choose to withdraw using Bitcoin, enter the Bitcoin address where you want to receive the funds and specify the amount you wish to withdraw in the purse field.
Enter the confirmation code: You will receive a confirmation code via email as part of QUOTEX's two-factor authentication process. Enter this code to verify your withdrawal request.
Submit your withdrawal request: After clicking the confirmation button, you'll see that your withdrawal request has been placed. Now, you need to wait for the process to be completed.
Check the withdrawal status: Monitor the status of your withdrawal request on the QUOTEX platform. The status can be one of the following:
Failed: The withdrawal was not successful due to a problem.
In process: The withdrawal request is being processed by QUOTEX.
Success: The withdrawal process is complete.
What is QUOTEX minimum withdrawal amount?
QUOTEX has set a minimum withdrawal amount for most payment methods at $10. However, for Bitcoin, the minimum withdrawal amount is $50. The maximum limit is not explicitly mentioned, as it may vary according to the payment methods. When depositing or withdrawing using cryptocurrencies, the total amount will depend on the specific cryptocurrency being used.
What are QUOTEX withdrawable currencies?
Depending on your geographical location, QUOTEX allows withdrawals in several currencies, including US Dollars, Euros, Russian Rubles, Ukrainian Hryvnias, and Brazilian Reals.
What are the benefits of QUOTEX’s trading platform
The QUOTEX trading platform provides an array of unique benefits and features for users:
Efficient digital sign-up process: The process of opening a QUOTEX account is entirely digital, quick, and reliable, making it convenient for traders to begin their trading journey with ease.
Swift and hassle-free withdrawals: QUOTEX ensures a smooth user experience by designing a fast and hassle-free withdrawal process, enabling traders to access their funds promptly.
Advanced charting tools and indicators: The platform offers various charting tools and technical indicators, such as MACD and Bollinger Bands, empowering traders with the necessary resources to make informed decisions and refine their trading strategies.
Demo account for all experience levels: QUOTEX provides a demo account suitable for traders of all experience levels, from beginners to seasoned professionals. This feature allows users to practice trading strategies and gain valuable experience in a risk-free environment.
Free registration and usage: The platform offers free registration and usage, making QUOTEX accessible to traders with a range of budgets and financial objectives. This allows more individuals to take advantage of the platform's resources and tools without incurring any additional costs.
Quotex withdrawal problems explained
While QUOTEX aims to process withdrawals quickly and seamlessly, some traders may occasionally encounter delays or issues withdrawing their funds. Here are some potential Quotex withdrawal problems explained:
Incorrect payment details
If invalid or incorrect payment details are provided, such as the wrong bank account number or cryptocurrency wallet address, the withdrawal will likely fail. Traders are advised to double check all details entered match their selected payment method.
Pending identity verification
QUOTEX reserves the right to verify a trader's identity for large withdrawals or if they have recently made deposits. Withdrawals may be pending until verification is completed, which can delay the process by a few days.
System maintenance delays
In rare cases, scheduled or unplanned system maintenance activities could potentially cause some withdrawals to be processed more slowly than usual until maintenance is finished.
Disputed withdrawals
If QUOTEX suspects fraudulent or unauthorized activity on an account, withdrawals may be pending until an investigation is completed. This ensures funds are not sent to the wrong person due to account takeover.
Third party payment issues
While QUOTEX processes withdrawals via bank transfer or cryptocurrency instantly, delays could occur if the selected payment provider experiences their own technical issues or unplanned outages.
Traders facing any withdrawal problems on QUOTEX are advised to contact customer support as soon as possible for assistance troubleshooting and resolving the issue. In most cases, problems can be solved promptly through open communication.
Expert Opinion
Overall, QUOTEX seems to have a straightforward withdrawal system in place that aims to make getting your money out efficiently. Offering multiple payment options like cards, bank transfers, and cryptocurrencies provides flexibility for traders. And processing most withdrawals within a few days is better than some other platforms I've seen.
Where traders need to pay close attention though is validating all the details are correct before submitting a withdrawal request. Taking that extra minute to double-check payment information could save you time and trouble down the road if there's an error. It's also wise for large sums to expect identity verification, as that's standard among reputable brokers nowadays.
My other advice would be to monitor the status of withdrawals closely. While delays are rare, being proactive to contact support promptly if an issue arises allows it to be addressed more quickly. Having all your documentation ready too, like ID documents, helps simplify matters for representatives.
Overall, if withdrawal times and processes outlined by QUOTEX are met as described, then getting funds off the platform shouldn't be an unduly difficult process. But as with any financial transaction, it's important traders take steps to minimize risks and avoid preventable problems.
Team that worked on the article
Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.
As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).