QUOTEX Turkey - Is It a Good Broker in 2024?
QUOTEX accepts Turkish clients. It is regulated by the International Financial Market Relations Regulation Center (IFMRRC) under license number TSRF RU 0395 AA V0161
This article provides a comprehensive analysis of QUOTEX, a broker specializing in binary options trading, with a focus on its operations in Turkey. We will delve into the broker's operational specifics, unique features, and potential limitations. The discussion will also cover QUOTEX's legality in Turkey, the array of trading instruments it provides, and its pricing model. To equip prospective users with pertinent information, we will offer an exhaustive exploration of deposit and withdrawal mechanisms. To conclude, we will respond to some frequently asked questions, thereby addressing any residual queries or concerns.
QUOTEX Turkey - General information
Established in 2019, QUOTEX is a binary options trading broker that allows its clients to trade in various markets, including currencies, metals, oil, cryptocurrencies, and stock indices. QUOTEX's proprietary trading platform supports 29 technical indicators and allows for a minimum investment of USD 10. The platform boasts a user-friendly interface, suitable for novice and seasoned traders. The broker offers 24/7 customer support and ensures secure transactions through two-factor authentication for personal and payment information.
QUOTEX Turkey pros and cons
👍 Pros
•Affordable Investment: QUOTEX allows for a minimum investment requirement of just USD 10, making it an accessible platform for beginners and small-scale traders.
•No Unnecessary Fees: The platform stands out for its zero trading, deposit, withdrawal, and account fees, making it a cost-effective choice for traders.
• User-Friendly Platform: QUOTEX's proprietary trading platform is specifically designed for binary options trading. It is simple to navigate, making it user-friendly for both beginners and experienced traders.
• Customizability: The platform offers the flexibility to customize as per individual trading needs and preferences.
• Supported Technical Indicators: The platform supports 29 technical indicators, assisting traders in making informed and strategic trading decisions.
👎 Cons
•No Leveraged Trading: QUOTEX does not provide the option for leveraged trading, limiting opportunities for high-risk, high-return trades.
• Lack of International License: QUOTEX is not licensed by an international regulator, potentially raising questions about its reliability and security.
• Insufficient Educational Resources: The broker could improve its offering by providing quality education and analytical tools on its website for its traders.
• Non-Withdrawable Deposit Bonus: The deposit bonus provided by QUOTEX cannot be withdrawn, which might be disappointing for some traders.
• Limited Trading Instruments: The absence of shares from the list of available trading instruments might limit the trading options for users interested in share trading.
QUOTEX Turkey review
QUOTEX offers a range of trading instruments, including currencies, metals, oil, cryptocurrencies, and stock indices, thereby catering to diverse trading interests. Its proprietary trading platform, which supports 29 technical indicators, is tailor-made for binary options trading and allows for investments from as low as USD 10.
Is QUOTEX legal in Turkey? Is it safe?
QUOTEX accepts Turkish clients. It is regulated by the International Financial Market Relations Regulation Center (IFMRRC) under license number TSRF RU 0395 AA V0161. This regulation adds a layer of trustworthiness to its operations and ensures that it abides by certain standards.
Is Quotex a Turkish company?
Turkey is in the Quotex available countries but this is not a Turkish company. QUOTEX is a digital trading platform. Awesomo Ltd is the official Quotex owner. Company is incorporated in Seychelles.
Is Quotex Registered in Turkey?
No, Quotex is not officially registered in Turkey. However, it's important to note that despite not being registered locally, Quotex operates legally within the country. This is due to its adherence to international trading standards and regulations, which allow it to provide services in several jurisdictions, including Turkey.
QUOTEX Turkey fees
QUOTEX prides itself on its transparency when it comes to fees. Traders do not incur any charges for executing trades or making deposits and withdrawals. However, it's worth noting that while QUOTEX doesn't charge fees, banks and payment systems may impose a transfer fee ranging from 1-5%.
How do you make a deposit in Turkey? – Payment methods
Quotex demo account is excellent. However, you’ll have to deposit real money to make profits, making a deposit into your QUOTEX account is an easy and quick process. Here is a detailed, step-by-step guide on how to do it:
Step 1: Open the QUOTEX platform and navigate to the trade execution window. You will find a green "Deposit" button in the upper right corner of this window. Click on this button to start the deposit process.
Step 2: You can also make a deposit through your Account. Log into your account and click your profile's "Deposit" button.
Step 3: Once you have initiated the deposit process, you must select your preferred deposit method. QUOTEX provides a range of convenient deposit options tailored to individual clients' specific requirements. For instance, if you wish to deposit via a credit or debit card, select "Visa / MasterCard" from the list of available options.
Step 4: Following this, choose the bonus (if applicable) and enter the amount you wish to deposit into your account. Once you have entered this information, click the "Deposit" button to proceed.
Step 5: You will then be directed to a form where you need to enter your payment details. These details usually include your card number, expiration date, and CVV code (for card payments). After entering all the required details, click "Pay."
Step 6: Upon completing the payment process, your deposit should instantly reflect in your live account. QUOTEX will also send you a confirmation message. You can then check your Live Account to confirm that the deposit was successful.
Please note that Quotex broker allows Bank transfers, E-payments, Visa and Master cards, and cryptocurrencies as deposit payment methods.
FAQs
Is the Quotex account free?
QUOTEX does not charge any fees for deposit or withdrawal operations. Nonetheless, be aware that payment systems may impose their fees and use their internal currency conversion rate.
Is Quotex legitimate for Turkish traders?
Yes, QUOTEX is a legitimate broker for Turkish traders as it is regulated by the International Financial Market Relations Regulation Center (IFMRRC).
How much does it cost to trade in Quotex?
The minimum trade cost in QUOTEX is just $1, with no additional fees attached.
What can I trade on Quotex?
Traders on QUOTEX can trade in various markets, including currencies, metals, oil, cryptocurrencies, and stock indices.
Team that worked on the article
Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses who want to improve their Google search rankings to compete with their competition.
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.