Available Quotex countries: in which jurisdictions the broker legally operates
Quotex, a well-known international financial service provider, offers CFDs, binary and online Forex trading. As one of the leading brokers in the industry, it’s available in several countries worldwide.
Nonetheless, some jurisdictions exist where people cannot access these services as it is forbidden under the law. In this review, we are going to explore the countries where access to Quotex's website is restricted.
Key points from the article
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Quotex is available in most countries worldwide, but is not available in the USA, Canada, Indonesia, Hong Kong, EEA countries, Russia. Some other countries may have restrictions as well.
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Quotex is licensed and regulated by IFMRRC through its parent company Awesomo Ltd. but is not regulated at the state level.
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Users must comply with laws and regulations of the country they are using Quotex in, regardless of accessibility in their home country.
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Binary options trading involves prediction of market outcomes and comes with risks as about 80% of retail traders experience losses. Risks can be reduced by practicing wise money management, diversification, staying focused on research, and avoiding scams.
Is Quotex legal and safe?
Licensed brokers are vital when it comes to ensuring secure and legal trades. That's why Quotex stands out among other trading platforms – they operate under International Financial Markets Regulatory Center (IFMRRC) regulations courtesy of parent company Awesomo Ltd. At the same time, this broker is not regulated at the state level.
In which countries Quotex is available
This broker works in most countries of the world. At the same time, there are a number of regional restrictions. Quotex is not available in USA, Canada, Indonesia, Hong Kong, EEA countries, Russia as well as for persons under 18 years of age. In other countries, there are also possible restrictions associated with the decisions of local regulators.
Are Binary Options Trading Risky?
Binary options are an event-based form of financial product, which entails making a prediction on a given outcome. This type of betting presents a fixed cash payout following an accurate forecast, but investors lose their entire investment should their prediction fail to come true. Commonly named ‘all-or-nothing’ or ‘digital’ options, these products cover markets like share prices, economic events, foreign exchange movements, and more.
According to an ASIC report, retail clients who trade binary options experience an 80% loss rate. Since predicting an underlying asset's short-term fluctuations is highly challenging, even for experts, binary options are considered speculative.
Ways To Reduce The Risks
When it comes to investing in binary, you want to limit the risks you’re exposed to. Here’s how you do it:
Avoid Scammers
To avoid falling victim to these scammers, one must maintain a constant level of vigilance and adhere only to trusted brokerages such as Quotex, which upholds principles of professionalism and safeguards its clients' investments.
It would be wise to verify that the brokerage has been registered with regulatory bodies which deal with such investments. Do not forget to read client reviews so as to ascertain the company's reliability and credibility.
Binary Options Fraud - Should You Care?Use Wise Money Management
Practicing careful investment habits, such as restricting trade investments to manageable amounts, steering clear of ventures with high levels of risk, and pinpointing specific exit parameters through the implementation of stop-loss points, are all paramount in ensuring a profitable and stable trading experience.
Beyond these core principles lies the importance of portfolio diversification by including various assets and investing within multiple markets; this serves as an effective method for distributing financial risk.
Stay Focused
Achieving long-term success when investing in the stock market necessitates keeping up-to-date on news and market developments as well as extensively researching companies prior to making any investments. Thorough comprehension of asset classes' influences on your investments can not be overstated either.
Additionally, investors should keep in mind that no one has a crystal ball for accurately anticipating all facets of tomorrow's business climate - this makes limiting potential loss especially prudent.
Expert Opinion
It's important to remember that every jurisdiction regulates the online trading industry differently based on its own laws and priorities. Quotex is focused on complying fully with the rules in each location to ensure a fair and safe trading environment.
Not being available in some major markets like the US ultimately affects a relatively small number of potential clients. The broker has still gained a sizeable customer base worldwide thanks to its strong regulatory oversight and wide range of trading products.
More broadly, country restrictions do not necessarily reflect negatively on a broker's reliability or services. The financial industry is always evolving, and regulations sometimes differ from a broker's own high standards. What matters most is how well they serve clients where they are active.
For experienced traders looking for a new platform, I believe Quotex deserves consideration based on its long experience and dedication to compliance. Just be aware of the regional access limits upfront so there are no surprises further down the line. Overall transparency on matters like this builds greater trust with customers over time.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
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 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).