QUOTEX is an online trading platform owned by Awesomo Ltd, based in Seychelles. It offers a range of trading assets, including Forex and cryptocurrencies. While it is regulated by the International Financial Market Relations Regulation Center, it is not as stringent as some other regulators.
QUOTEX profile details: key information about the company
Updated: April 16, 2024
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Are you considering opening an account with QUOTEX? It's always a wise decision to do some research before entrusting your hard-earned money with any financial partner. That's why the experts at TU have put together this review on the QUOTEX app. Here, the experts give you a rundown of the key information about QUOTEX, including its history, project team, regulation, and coverage of financial markets. By the end of this review, you should have a better idea of whether QUOTEX is a reputable and dependable broker that's worth your time and investment.
What the profile on QUOTEX includes
QUOTEX is a digital options broker with a user-friendly platform and a variety of trading instruments. It is a brand name of Awesomo Ltd, a Seychelles-based company. The broker offers binary options for trading stocks, currencies, commodities, and cryptocurrencies. New traders can start with a minimum deposit of $10 and also receive a joining bonus or use a free demo account with $10,000 in virtual funds.
Their trading platform is web-based and can be accessed after registration. Traders can view live price charts and data for multiple graphs in different timeframes. The platform offers nine indicators that can be customized according to preference and 15 drawing tools to inform projections. Users can also hide indicator names or additional details without losing their mark-ups on charts. In addition, the platform interface displays a leaderboard of the top 20 earners for that day and includes unlimited market signals, offering a manual form of binary options copy trading.
Clients will appreciate the high levels of customization offered by the platform. They can set their username, upload a profile photo, and change the background image of their charts. The switch time and investment type can also be easily adjusted. The broker has also introduced a quick detailed view on trades, providing key information on market opening and closing prices as well as position entry and exit prices at a glance.
With everything being said, it is important to note that QUOTEX does not offer the MT4 or MT5 platforms.
QUOTEX general information
Contact Information
Information |
Details |
Official |
|
Email |
|
Ticket |
Yes, on the platform |
Phone |
Not available |
Chat |
Not available |
Telegram |
|
Address |
Suite 1, Second Floor, Sound & Vision House, Francis Rachel Str., Victoria, Mahe, Seychelles ID: 221042 |
Who is the owner of Quotex?
Quotex is a relatively new trading platform founded in 2020 and owned by Awesomo Ltd., with its headquarters based in Seychelles. The broker offers trading options for a variety of assets such as binary options, cryptocurrencies, commodities, and indices.
Since its inception, Quotex has experienced significant growth, with over 4 million traders from numerous countries around the world. With over 100,000 trades per day recorded, Quotex has quickly become a popular trading platform.
Customer base
QUOTEX provides services to traders from a wide range of countries around the world. Based on the available information, it appears that the majority of QUOTEX's traffic comes from India, with 13.4% of users hailing from this country. Mexico follows closely behind with 12.6% of users. Other notable countries in QUOTEX's customer base include Algeria, Serbia, Nigeria, Turkey, Saudi Arabia, Uzbekistan, and Israel, with 7.5%, 7%, 1.2%, 1.1%, 1.1%, 0.9%, and 0.8% of users respectively.
Overall, QUOTEX has amassed a considerable number of customers since its inception, and its customer base continues to grow. It is worth noting that the data provided does not account for all the countries where QUOTEX operates.
Legal entities and regulation
Quotex is a regulated broker based in Seychelles, and it is under the regulation of the International Financial Market Relations Regulation Center (IFMRRC). The broker operates under Awesomo Limited, which is also regulated by IFMRRC with license number TSRF RU 0395 AA V0161.
It is important to note that the regulation by IFMRRC is not as stringent as some other regulators such as the Financial Conduct Authority (FCA) or the Australian Securities and Investments Commission (ASIC). Nevertheless, the fact that QUOTEX is regulated by a recognized authority does provide some level of reassurance to traders.
Additionally, QUOTEX's legal operations are not restricted to Seychelles. The platform is accessible to traders from many countries around the world, without any country restrictions. However, remember that regulatory requirements vary from country to country, and traders should ensure that they comply with the regulations in their respective countries.
In summary, QUOTEX is a regulated broker that operates legally under the regulation of IFMRRC. While the level of regulation may not be as stringent as some other regulators, QUOTEX's regulatory status provides some level of confidence to traders.
Overview of products
QUOTEX offers a wide variety of trading assets on its platform, including:
Indices: Traders can access around 15 major exchanges, such as Dow Jones and FTSE 100.
Commodities: Popular metals and energies for trading via QUOTEX include oil, gold, and silver.
Currencies: Traders can choose from 27 Forex pairs, including major to exotic options.
Overall, traders can choose from approximately 410 assets for trading on the mobile app. With a diverse range of options, traders can easily select assets that they are most comfortable with or are the safest options to trade.
Moreover, QUOTEX is accessible to traders from a range of countries including the United States, Singapore, India, United Kingdom, Kuwait, UAE, Luxembourg, Qatar, Italy, Sweden, Norway, Hong Kong, France, Denmark, and Canada. This broad range of supported countries increases the accessibility of the platform to traders worldwide.
QUOTEX services
Some of the main services/features offered by QUOTEX include:
Minimum deposit: Traders can get started with as little as $10, making QUOTEX accessible to a wide range of traders.
Payment methods: QUOTEX offers a variety of payment options, including Visa and Mastercard, cryptocurrencies such as USDT, Bitcoin, Ethereum, Litecoin, and more, banks, and e-platforms.
User-friendly interface: QUOTEX's platform is designed to be simple and comfortable to use, providing traders with a distraction-free trading experience.
Integrated signals: The platform offers integrated signals with an accuracy of 87%, which can help traders create effective trading strategies.
Trading indicators: QUOTEX provides a collection of the most useful trading indicators, which traders can use to analyze market trends and make informed trading decisions.
Modern technology: QUOTEX's platform runs on the most modern technology, ensuring incredible speed and performance.
Mobile application: Traders can access QUOTEX's platform on-the-go through its mobile application, available for both iPhone and Android.
24/7 support: QUOTEX provides a dedicated support service, available 24/7, to help traders with any issues or queries they may have.
Expert Opinion
While regulation is always preferable to no regulation at all, traders should be aware that IFMRRC regulation offers less consumer protection compared to more reputable regulators like CySEC or FCA. However, QUOTEX does seem to make efforts to operate transparently and treat customers fairly. My view is that the regulatory status, while not top-tier, is not necessarily a dealbreaker if other factors check out.
I like that QUOTEX offers a wide range of trading assets, from major currency pairs and cryptocurrencies to commodities and stock indices. This variety allows traders to easily construct a diversified portfolio. The low minimum deposit also makes QUOTEX accessible to beginners without large initial capital.
From a platform perspective, the integrated signals, indicators, and drawing tools could be useful training aids for novice traders. However, I'd advise verifying the accuracy of any signals before relying on them. The streamlined interface is also pleasant to use.
Overall, QUOTEX seems reasonably reputable for traders willing to accept a somewhat less regulated broker. As with any new broker, I'd recommend starting with a small deposit and testing customer service responsiveness before depositing large sums. Proper risk and money management is also important as with any form of trading.
FAQs
What is QUOTEX about?
QUOTEX is an online trading platform that provides access to trades in various assets, including Forex and cryptocurrencies.
Who is the owner of Quotex?
QUOTEX is owned by Awesomo Ltd, a company based in Seychelles.
Is Quotex registered in the USA?
While traders can open an account on QUOTEX, the platform does not accept traders from the USA due to regulatory restrictions.
Where is the headquarters of Quotex?
QUOTEX is based in Seychelles, with its headquarters located at Suite 1, Second Floor, Sound Vision House, Francis Rachel Str., Victoria, Mahe.
Team that worked on the article
Chinmay Soni
Contributor
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.
Ivan Andriyenko
Author at Traders Union
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
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).