QUOTEX Malaysia - Is it a good broker in 2024?
QUOTEX Malaysia is a popular online trading platform that offers traders access to a wide range of underlying assets, including securities, Forex, commodities, and indices.
When it comes to online trading and investment platforms, we all seek professional services coupled with user-friendly tools. This drive for practical innovation has ushered Malaysia into the emerging markets' sphere. Aspiring investors and seasoned traders alike are presented with a promising opportunity - QUOTEX. As a well-regulated broker with five years of experience, QUOTEX brings its international-level infrastructure to the local markets. However, the question remains - can this platform deliver satisfactory trading conditions and meet Malaysian investors' expectations?
Our review takes an in-depth look at QUOTEX's offering, from account types and fees to platforms, tools, and safety of funds. Balancing facts with first-hand experiences of customers, we aim to provide a well-rounded perspective on whether QUOTEX Malaysia has the potential to become a top choice for the country's traders in 2024.
Key points from the article
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QUOTEX is an online broker offering binary options trading on various assets through a web and mobile trading platform.
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It is regulated by IFMRRC but not specifically registered in Malaysia.
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Trading can begin with a minimum deposit of USD 10 and be funded through popular payment methods with no deposit/withdrawal fees.
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While resources like education materials and trading signals are offered, leverage trading is not available which can limit potential profits.
QUOTEX Malaysia - General information
| 💻 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: | Yes |
| ➕ Affiliate program: | Yes |
| ⭐ Trading features: | Leveraged trading is not available, shares are not available |
| 🎁 Contests and bonuses: | Deposit bonus, risk-free trade, promo codes |
QUOTEX is a platform that enables trading of digital options on various underlying assets, such as securities, Forex, commodities, and indices like the S&P 500. Digital options trades are based on simple up and down price movements, and the platform offers a diverse range of expiry durations, ranging from one minute to a month or more. The payout percentage of the assets is determined by various factors, such as the asset and time frame, and can be affected by the number of traders speculating in the same direction.
As a broker, QUOTEX offers several educational resources, including guidance videos and market news, to help users understand the platform better. Its demo account is the best way to learn the system, which is provided for free. The broker also provides trading signals, but these can only be accessed on the full account, not on the demo version.
Additionally, QUOTEX presents rewards to its clients as an encouragement for trading activities. It grants bonus for trading purposes, with the caveat that users must achieve a specific turnover based on the bonus received. To be specific, the bonus amount multiplied by x100 is the required trading volume users must complete on the platform before withdrawing the bonus. Users can obtain a bonus either by making a deposit or utilizing a QUOTEX promotional code.
QUOTEX Malaysia pros and cons
| Pros of QUOTEX | Cons of QUOTEX |
|---|---|
| QUOTEX's user-friendly platform is beginner-friendly, making it easy for new traders to get started with binary option trading. | QUOTEX does not offer leverage trading, which can be a disadvantage for more experienced traders who want to maximize their profits through higher investments. |
| With a minimum deposit of USD 10 and no withdrawal fees, QUOTEX offers affordable trading services, making it easy for beginners to start trading without breaking the bank. | Access to the website services is restricted in a number of countries, such as the USA, Canada, Hong Kong, countries within the EEA, and Russia. Additionally, individuals who are under 18 years old are not permitted to use the website's services. |
| QUOTEX provides global access with support for multiple languages, which makes it easy for users around the world to trade in their preferred language. | |
| Unlimited trading signals are provided to users, which is a huge advantage for traders who are always on the lookout for new trading opportunities. | |
| QUOTEX offers a 30% deposit bonus, which is a huge incentive for traders to invest more and trade more actively. | |
| QUOTEX accepts crypto payments, which is a huge advantage for users who prefer to trade with cryptocurrencies. |
QUOTEX Malaysia review
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 also 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 is regulated by the International Financial Market Relations Regulation Center (IFMRRC), providing clients with the assurance that the platform operates in a legitimate and trustworthy manner. However, as with any online trading platform, trading involves risk, and there is no guarantee of profits.
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.
Choose the best platform for trading in MalaysiaIs QUOTEX legal in Malaysia? Is it safe?
QUOTEX accepts traders from all over the world, including Malaysia. The broker is based in Seychelles and is regulated by the International Financial Market Relations Regulation Center (IFMRRC). The license number for QUOTEX is TSRF RU 0395 AA V0161, and the official company number is 226716.
The platform uses SSL encryption to protect users' data and provides 2-factor authentication 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 into negative territory, even in the event of significant losses.
Is QUOTEX a Malaysian company?
QUOTEX is not a Malaysian company, but rather a brand name of Awesomo Ltd, a company based in the Seychelles. 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.
Best Binary Options Trading Platforms for 2024Is QUOTEX registered in Malaysia?
As QUOTEX is not a Malaysian company, it is not registered with the Securities Commission of Malaysia. However, the platform is regulated by the International Financial Market Relations Regulation Center (IFMRRC), which provides clients with the assurance that the platform operates in a legitimate and trustworthy manner.
QUOTEX Malaysia - fees
QUOTEX charges no deposit, withdrawal, or transaction fees. Additionally, there is no inactivity fee for users who don't trade frequently.
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.
How do you make a deposit in Malaysia? – payment methods
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.
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.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
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).