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Quotex Malaysia review

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Quotex Malaysia is a reliable platform for binary options trading on Forex, commodities, cryptocurrencies, and indices. With a user-friendly interface, a $10 minimum deposit, and no fees. However, it’s not registered in Malaysia and lacks leverage trading.

Finding the right online trading platform requires a balance of professional services and user-friendly tools. In Malaysia's growing financial market, Quotex has emerged as a noteworthy option. With five years of industry experience and a global reach, this regulated broker aims to meet the needs of both new and experienced traders. But does it truly deliver on its promises for Malaysian investors?

This review takes a closer look at Quotex, exploring its account options, fees, platforms, tools, and fund safety measures. Combining factual analysis with customer feedback, we assess whether Quotex has the potential to be a top trading platform in Malaysia in 2024.

Quotex Malaysia - general information

Open an account
Your capital is at risk.
Trading platform: Proprietary web platform and mobile application

Account types:

Demo, Live

Account currency:

USD, EUR, GBP, BRL, IDR, MYR, INR, KZT, RUB, THB, UAH, VND

Replenishment / Withdrawal:

Visa/Mastercard cards, Perfect Money, Piastrix, FK Wallet, cryptocurrencies Bitcoin Cash, BTC, LTC, ETH, Coinbase, Dai, Binance Coin, Paxos Standard

Minimum deposit:

USD 10

Min Order:

USD 1

Instruments:

Currency pairs, commodities, cryptocurrencies, indices

Mobile trading:

Affiliate program:

Trading features:

Leveraged trading is not available, and shares are not available

Contests and bonuses:

Deposit bonus, risk-free trade, promo codes

Quotex is an online trading platform that offers a range of trading opportunities for Malaysian clients, including Forex, cryptocurrencies, commodities, and indices. The platform provides traders with the ability to trade using binary options. They are a simple yet effective trading tool, with traders predicting whether the price of an asset will rise or fall within a set timeframe.

The platform also offers a range of trading tools and features to assist traders in making informed trading decisions, including an easy-to-use interface, trading alerts, various technical indicators, and rapid processing capabilities. Clients can access the web-based Quotex platform and start trading after account registration.

Quotex also offers a mobile trading app for Android devices, enabling clients to trade on the go. The app has a simple and comfortable interface that does not distract from trading and delivers incredible speed.

Malaysian clients can take advantage of a $10 minimum deposit and a joining bonus, as well as a free demo account with $10,000 in virtual funds. Quotex accepts a range of payment methods, including credit cards, cryptocurrencies, e-wallets, and bank transfers. The minimum trade amount starts at $1.

Quotex does not offer leverage, but it does provide traders with a range of trading assets to choose from. Some of the popular assets include major Forex pairs, such as EUR/USD and USD/JPY, as well as commodities like gold and oil.

Quotex charges no deposit, withdrawal, or transaction fees. If a client doesn’t use their account for 180 days or more (including no trading), a daily fee of 1% of their account balance is charged. The fee starts at least $1 per day.

The only fee that Quotex charges is the spread fee. The spread fee is the difference between the bid price and the ask price for an asset. The bid price is the price at which a buyer is willing to buy an asset, and the ask price is the price at which a seller is willing to sell an asset.

The spread fee varies based on the asset being traded and the time frame selected. It is typically higher for assets that are less frequently traded or for trades that are held for longer time frames.

Although there is no local office for Quotex in Malaysia at present, Malaysian clients can contact the platform's support team via email or raise a ticket for any inquiries or assistance needed.

Is Quotex legal in Malaysia? Is it safe?

Yes, Quotex is legal in Malaysia. It is regulated and provides safety features like SSL encryption, 2-factor authentication, and negative balance protection. These measures ensure secure trading and fund safety.

Quotex accepts traders almost from all over the world, including Malaysia.

The platform uses SSL encryption to protect users' data and provides 2FA to ensure secure logins. Quotex also offers regulated payment methods, ensuring that users' funds are safe and secure. The platform also provides negative balance protection, which ensures that users' account balances never go negative, even in the case of huge losses.

Is Quotex a Malaysian company?

No, Quotex is not a Malaysian company, but it is legal and accepts users from Malaysia. Quotex is the brand name of ON SPOT LLC GROUP, a company based in St. Kitts and Nevis. However, Quotex is available to clients from Malaysia, providing them with a range of trading opportunities through its web-based platform and mobile trading app.

Quotex Malaysia pros and cons

👍 Pros

Beginner-friendly platform. Quotex's intuitive interface is ideal for new traders, simplifying binary options trading and making it accessible for those just starting out.

Low minimum deposit. With a minimum deposit requirement of only USD 10 and no withdrawal fees, Quotex provides an affordable entry point for traders looking to start with minimal investment.

Multilingual support. Quotex offers its platform in multiple languages, catering to a global audience and ensuring users can trade in their preferred language.

Trading signals. Users gain access to unlimited trading signals, which can aid in identifying lucrative trading opportunities and making more informed decisions.

Bonus incentives. A 30% bonus is available on the first deposit, providing an added incentive for traders to fund their accounts and engage in more trades.

Crypto payment options. Quotex supports cryptocurrency payments, offering flexibility for traders who prefer digital currencies for transactions.

👎 Cons

No leverage trading. The platform does not offer leverage options, which might be a limitation for experienced traders seeking to amplify their investments and maximize returns.

Geographical restrictions. Services are unavailable in several countries, including the USA, Canada, Indonesia, Hong Kong, nations within the EEA, Israel, and Russia. Additionally, the platform prohibits use by individuals under 18 years of age.

Regulatory limitations. Quotex operates without tier-one regulation, which could be a concern for traders prioritizing regulatory oversight and stringent security measures.

How do you make a deposit in Malaysia?

To deposit in Malaysia, follow these steps:

  1. Open the deposit window. Log in to Quotex and open the trade window. Click the green "Deposit" button at the top right corner. Alternatively, go to your profile and click "Deposit" there.

  2. Choose a deposit method. Quotex offers various deposit options. Pick the method that suits you best based on fees, processing time, and security.

  3. Select your payment method. After choosing the deposit option, select your specific payment method (e.g., Visa/MasterCard) from the list.

  4. Enter the deposit amount and bonus. Enter the amount you want to deposit (minimum $10) and choose a bonus, if available. Click "Deposit" to continue.

  5. Provide payment details. Fill in your payment information accurately and click "Pay" to complete the process. The amount will be deducted from your account.

  6. Check your deposit. Verify that the funds are added to your Quotex account by checking your account balance. Deposits usually appear within minutes.

Quotex Malaysia offers several payment methods for users to make deposits, including credit/debit cards, e-wallets, and cryptocurrencies. Credit/debit cards are a popular payment method and are accepted on Quotex. Users can use Visa or Mastercard to make a deposit. The minimum deposit amount for credit/debit card transactions is USD 10.

E-wallets are another popular payment method on Quotex, with Neteller, Skrill, and Perfect Money being accepted on the platform. The minimum deposit amount for e-wallet transactions is also USD 10.

Leverage Malaysia’s time zone advantage to focus on the overlap of active global market hours

When trading on Quotex, leverage Malaysia’s time zone advantage to focus on the overlap of active global market hours, such as the London and New York sessions. This is particularly impactful for binary options trading, where precision in timing plays a pivotal role. By syncing your trades with these high-liquidity periods, you maximize opportunities for price action while minimizing unpredictable market noise during low-activity hours.

Additionally, Quotex’s unlimited trading signals can serve as a secondary layer of insight, allowing you to refine entry and exit strategies by aligning them with active market patterns specific to your time zone.

Beginners in Malaysia can make the most of Quotex’s 30% deposit bonus, but there’s a catch: instead of jumping straight into large deposits, start small and use the demo account to refine your skills. Transition gradually by scaling your deposits based on performance improvements, which allows you to minimize emotional decision-making.

Furthermore, explore cryptocurrency deposits to avoid traditional banking fees and delays, ensuring that your trading funds are available when market conditions align with your strategy. This thoughtful approach helps build both technical proficiency and confidence, making your entry into trading more calculated and less risky.

Anton Kharitonov

Anastasiia Chabaniuk

Author, Financial Expert at Traders Union

Conclusion

Quotex has proven to be a reliable trading platform for Malaysian users seeking a simple and accessible way to trade binary options on Forex, cryptocurrencies, commodities, and indices. Its beginner-friendly interface, low minimum deposit, and multilingual support make it a popular choice for new traders, while advanced features like unlimited trading signals add value for more experienced users. However, the absence of leverage trading and its lack of local registration in Malaysia may be limitations for some traders. By carefully leveraging its features, such as deposit bonuses and cryptocurrency payments, Quotex can be a valuable tool for strategic trading in 2024.

FAQs

How do I withdraw from Quotex Malaysia?

To withdraw from Quotex, log in to your account and go to the withdrawal section. Enter the amount you want to withdraw and choose a payment method that works.

Does Quotex work in Malaysia?

Yes, Quotex allows users from Malaysia to open options trading accounts.

What is the minimum withdrawal from Quotex?

The minimum withdrawal amount is $10 for most payment methods. For cryptocurrencies, it starts at $50 and may be higher for some, like Bitcoin.

Is Quotex registered in Malaysia?

Since Quotex is not a Malaysian company, it is not registered with the Securities Commission of Malaysia.

Team that worked on the article

Alamin Morshed
Contributor

Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses that want to improve their Google search rankings to compete with their competition. With expertise in search engine optimization (SEO) and content marketing, he ensures his work is both informative and impactful.

Chinmay Soni
Developmental English Editor

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.

Mirjan Hipolito
Cryptocurrency and stock expert

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).