QUOTEX Bangladesh - Is It a Good Broker in 2024?

QUOTEX Bangladesh - General Information

QUOTEX Review

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QUOTEX offers a unique trading experience through its proprietary web and mobile applications. It presents its clients with different account types, including Demo and Live accounts, allowing traders to trade in currencies like USD, EUR, GBP, BRL, IDR, MYR, INR, KZT, RUB, THB, UAH, and VND.

The platform is user-friendly and straightforward, ensuring even the least tech-savvy users can easily navigate it. You can replenish or withdraw funds through various methods, such as Visa/Mastercard, Perfect Money, Piastrix, FK Wallet, and numerous cryptocurrencies like Bitcoin Cash, BTC, LTC, ETH, Coinbase, Dai, Binance Coin, and Paxos Standard. The minimum deposit and order values are extremely affordable, pegged at $10 and $1, respectively.

The tradable instruments are impressive, featuring currency pairs, commodities, cryptocurrencies, and indices. The platform, available on mobile for traders on the go, also includes an affiliate program. However, it's important to note that leveraged trading and shares are unavailable. On a positive note, the platform offers deposit bonuses, risk-free trades, and promo codes, enhancing trading experiences.

QUOTEX Bangladesh review

QUOTEX is an intriguing broker option for Bangladeshi traders, primarily due to the wide range of trading instruments, the user-friendly platform, and efficient customer service. With over 40 trading instruments and a maximum payout of 90%, traders can explore extensive opportunities.

The platform's versatility has also drawn attention, with its web platform operating smoothly on any device, including tablets and mobiles, without necessitating any software installations. The QUOTEX mobile application, available for Android devices, has seen over 500,000 downloads, reaffirming the platform's credibility.

Traders will appreciate QUOTEX's services, such as the Telegram channel providing the latest news, market reviews, and forecasts. Real-time trading signals directly on the platform and 29 trading indicators help users make informed trading decisions. Additionally, the Market section in the Personal Account offers all available free and paid promo codes.

However, the broker falls short when it comes to educational resources. New traders may find the lack of articles and video tutorials a setback, as they are crucial for understanding binary options trading. The FAQ section offers some insights, but a more comprehensive educational platform would be beneficial.

Is QUOTEX legal in Bangladesh? Is it Safe?

QUOTEX is not a Bangladeshi company, but Awesomo Ltd, based in Seychelles, owns it. While it is registered in Bangladesh and considered safe to trade, potential clients should note that QUOTEX is registered in St. Vincent and Grenadines, an offshore tax haven. Maxbit LLC, the company behind QUOTEX, does not fall under the supervision of trustworthy regulators. Hence, there's no guarantee of compensation if the broker becomes insolvent.

Despite its registration, financial regulators in Europe, including the CMVM (Portugal), CNMV (Spain), and CONSOB (Italy), have issued warnings about QUOTEX, stating that it is not authorized to offer financial services or products in these regions. Therefore, while trading with QUOTEX is legal in Bangladesh, traders should exercise caution.

QUOTEX Bangladesh - Fees

Trading with QUOTEX doesn't incur a commission for executing trades, and there are no deposit or withdrawal fees, an appealing aspect for many traders. However, it's worth noting that banks and payment systems may impose a transfer fee of 1-5%, as the platform warns on its website. Traders should consider these costs when deciding to invest in QUOTEX.

How do you make a deposit in Bangladesh? – Payment methods

• 1

  Accessing the deposit window. First, log into your QUOTEX account. Once logged in, look for the trade execution window on your account dashboard. This window is where you manage all your trading activities, including making deposits into your account. Located in the upper right corner of the tab, you'll find a green button labeled "Deposit”. Clicking on this button will initiate the deposit process. Alternatively, you can deposit your account profile by navigating to it and clicking the "Deposit" button. This flexibility in access points is one of QUOTEX's features designed to make your trading experience as convenient as possible.

• 2

  Choosing the deposit method. QUOTEX provides a variety of deposit methods to suit the preferences and needs of its users. After accessing the deposit window, you'll see a selection of depositing options displayed on your screen. After deciding on the deposit method, you must specify it on the QUOTEX platform. Suppose you choose to use a Visa or MasterCard for your deposit. In that case, you'll select this from a drop-down menu or listed options, depending on the design of the interface. This specification process is the same regardless of your chosen deposit method and is designed to ensure your funds are transferred securely.

• 3

  Entering the deposit amount and choosing a bonus. Once you have specified your payment method, the next step involves entering the amount you wish to deposit into your account. It's worth noting that the minimum deposit allowed on QUOTEX is $10. You'll see options for choosing a bonus as you enter the deposit amount. These bonuses, designed to reward traders, vary, and you can select the one that appeals most to you, if any. After this, you click on "Deposit" to proceed to the next step.

• 4

  Providing payment details and finalizing the deposit. After entering the deposit amount and choosing your bonus, you'll receive a form to fill out your payment details. You must complete this form accurately to prevent any issues or delays with your deposit. Once you've completed and checked the form, click "Pay”. This action finalizes the deposit process, and your entered amount will be deducted from your bank account or digital wallet.

• 5

  Checking the deposit status. The final step after making your deposit is to check whether the funds have been successfully transferred to your QUOTEX account. Log into your account and check your balance. QUOTEX processes deposits quickly; in most cases, the funds should appear in your account within a few minutes of completing the deposit process.

QUOTEX offers a variety of payment methods, including bank transfers, cryptocurrencies, online transfers, debit/credit cards, and online app payments. After making the deposit, checking your QUOTEX Live Account balance is essential to ensure the funds have been correctly reflected.

While QUOTEX presents an accessible trading platform for Bangladeshi traders, it is crucial to be informed about the broker's offshore registration and the lack of regulation by recognized financial authorities. As always, due diligence and careful research are vital in financial trading.