In Online trading, finding a dependable and trustworthy broker is critical for any investor. Among the many brokers accessible, Quotex has received a lot of attention. This blog post will provide a full Quotex assessment, reflecting light on company operations and identifying some potential red flags. If you’re thinking about utilizing Quotex, read on to make an informed decision.
Website: https://qxbroker.com/en
Website Availability: YES
Official Address: NA
Regulation: Unregulated
Warned By:
- Securities Commission (Malaysia)
- National Securities and Stock Market Commission (Ukraine)
- Comissão do Mercado de Valores Mobiliários (Portugal)
- Commissione Nazionale per le Società e la Borsa (Italy)
- Comisión Nacional del Mercado de Valores (Spain)
Domain Status:
Domain Name: qxbroker.com
Registry Domain ID: 2613305082_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.godaddy.com
Registrar URL: https://www.godaddy.com
Updated Date: 2023-03-09T02:42:27Z
Creation Date: 2021-05-19T06:21:08Z
Registrar Registration Expiration Date: 2028-05-19T06:21:08Z
Overview of Quotex
Quotex is a relatively young player in the Internet trading market, providing a platform for binary options trading. Binary options trading is a type of investment in which traders estimate the price movement of various assets over a preset period. Quotex claims to provide an intuitive interface, a diverse portfolio of assets, and competitive payout percentages, making it appear to be a viable option for traders.
The website has a simple interface and offers access to a variety of products, including FX, commodities, indexes, and cryptocurrencies.
Lack of Regulation and Accountability
One of the major problems with Quotex is the lack of regulation. Quotex, unlike traditional brokers, is not subject to financial regulatory monitoring. Due to the lack of regulation, there is no regulatory body to oversee fair conduct, transparency, and the protection of traders’ funds.
Regulated brokers are often expected to follow tight restrictions and regulations, such as keeping segregated accounts for client cash and conducting frequent audits. The absence of such control at Quotex raises concerns about the security of traders’ money.
Warning Signs and Complaints
Users of the Quotex platform have reported several warning flags and concerns. Many traders have reported having difficulty withdrawing their funds, with some alleging that their requests were denied or delayed for extended periods. These difficulties point to potential liquidity problems or, worse, an intentional attempt to withhold funds.
Furthermore, some users have reported concerns with the trading platform’s accuracy, implying that prices listed on Quotex may not necessarily correspond to market values. This disparity can have a substantial impact on trading outcomes, potentially leading to losses that are not the trader’s responsibility.
Quotex Review – Conclusion
Finally, this Quotex review identifies some troubling features of the broker. The lack of regulation and responsibility, combined with numerous complaints and warning indications, causes concerns among potential traders. Given the significant risk of binary options trading, promises of big returns should be treated with caution.
If you are thinking about utilizing Quotex, you should do your research and look at other brokers who are regulated. The safety and security of your investments should be your primary priority, and trading with a registered and recognized broker is an important step toward that aim.
If you have already fallen victim to Quotex, take quick steps to recover your money. While the process can be tough, patience and completing the proper steps can improve your chances of receiving your money back.
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Note: The Quotex review is influenced by existing reviews online. We are not responsible for any legal actions taken by any entity favoring Quotex.