Maybe you were wondering whether Quotex was really worth the buzz. The information will be provided by me, a long-term user. The following is a review of Quotex, a broker that I used for a year of trading. I will demonstrate everything from creating an account to funding it and trading. Whether you’re a seasoned trader looking to branch out or a complete novice seeking for your first broker, my honest review will help you make an informed decision about Quotex. Their web and mobile apps, order forms, and teaching materials were all tested. Please read the whole article before beginning.
Overview of Quotex Broker
Regulated and Licensed
Licenses for Quotex are issued by the Cyprus Securities and Exchange Commission. Your funds and data are protected in this way. In order to protect accounts up to €20,000, Quotex became a member of the Investor Compensation Fund.
Competitive Spreads
Quotex has changeable spreads as low as 0.0 pips on several major currency pairings during market hours. Minor pairings have greater spreads but are still competitive. Tighter spreads help you since Quotex profits from them.
Many Tradeable Assets
Quotex lets you trade 250+ FX, commodities, equities, indices, and cryptocurrencies. Quotex lets you exchange gold, Google stocks, and Bitcoin. CFDs let you leverage long or short positions.
Strong Trading Platforms
MetaTrader 4 and MetaTrader 5 are available from Quotex. Full-featured platforms with comprehensive charting, indicators, and algos. You may trade from your mobile app or browser. Customizable platforms match your demands.
Generous Leverage
Quotex offers FX leverage up to 1:400 and stocks and commodities leverage 1:200. Higher leverage increases position size and earnings. Leverage magnifies losses, so minimize risk.
Reliable Client Support
Live chat, email, and phone support are available 24/7 at Quotex. Multilingual support is provided. Quotex consistently pays withdrawals within one business day.
Quotex is a trustworthy, well-regulated broker with competitive pricing and comprehensive trading tools. If you want a reliable broker, try Quotex. Have more questions? Let me know!
My Quotes Account Opening Experience
Quotex accounts were easy to open. On their website, I submitted my name, email, and desired password. My account was ready to fund in minutes.
Funding my account
Quotex accepts wire transfers, debit/credit cards, Skrill, and Neteller. Since debit card deposits are immediate, I started there. The minimum card deposit is $50, so I put up $200 to play. My deposit was easy and my cash were reimbursed immediately.
Explore the platform
Quotex offers a contemporary, user-friendly UI. It’s web-based and works on all devices without downloading. I browsed the watchlist, graphing tools, and instructional materials. Everything seemed straightforward, however they offer instructional videos for beginners.
Making my first trade
After exploring the site, I traded. Quotex provides FX, stock, commodity, and cryptocurrency CFDs. I bought a EUR/USD CFD for my first transaction. I entered $50 for a mini-lot position. The transaction was instantaneous at market pricing.
My Quotex experience has been good. The interface is well-designed, account setup and financing were quick, and placing my first transaction was easy. I want to use Quotex more for trading and investing. Have more questions? Let me know!
Quotex Trading Platform Tools
Quotex lets traders trade over 200 currencies, commodities, indices, stocks, and crypto instruments. Let’s look at Quotex’s top features and tools for traders.
Strong Charting Package
Charts are traders’ best buddy. Quotex’s sophisticated charting suite has over 70 indicators for price movement, trends, and patterns. Line, bar, candlestick, and more charts are available. Multiple time periods, chart formats, and drawing tools show the whole picture.
Automated Trading
No time to gaze at charts all day? Quotex allows Expert Advisor-automated trading. You may develop, test, and deploy EAs or use pre-built bots. EAs analyze markets and execute trades according to your plan.
Academy of Trading
Quotex offers trading education for beginners and pros. Their Trading Academy features forex, technical, and fundamental analysis videos, articles, and an interactive course. Chart reading, trend identification, risk management, and profitable trading ideas are covered.
Competitive Commissions and Tight Spreads
Quotex, an ECN broker, links you to worldwide liquidity pools for narrow spreads and best rates. They don’t inflate spreads or hide costs. Commissions start at $6/100K lot round turn. Low expenses let you retain more profits.
24/7 Customer Support
Have an account question or need assistance trading? Quotex offers 24-hour customer assistance. Contact them by live chat, email, or phone. Support personnel are polite, competent, and quick to help.
Quotex’s robust trading platform, automated trading options, instructional tools, and exceptional customer service offer you everything you need to succeed. You can optimize profits and decrease expenses with their competitive pricing and transparency. Quotex is a good all-in-one option for traders.
Use of Quotex Pros and Cons
Quotex, a new online broker, has certain drawbacks but also some benefits. Before opening an account, consider these benefits and downsides.
Cheap fees
Quotex has lower costs than other brokers, which is a major advantage. You may trade stocks, ETFs, options, and cryptocurrencies commission-free. Major currency pairings have narrow spreads. This keeps more money in your account for trading.
User-friendly platform
Quotex’s trading platform is simple. Beginners may trade immediately. Their technical analysis tools include charts, indicators, and sketching tools. Trade on the move using their smartphone app. Limited Products Quotex trades stocks, FX, and crypto, although less than bigger brokers. Only 150 equities and 80 ETFs are available. They only provide major currency pairings and a few cryptocurrencies like Bitcoin and Ethereum. Quotex may not be suitable for unusual product trading.
Customer Service
Quotex’s broker status shows in their client support. They provide 24/7 live chat help, however consumers claim longer wait times and uneven service than established brokers. Quotex should enhance customer care as they develop, however you may be frustrated for now.
Regulation
No significant agency regulates Quotex. Registered in St. Vincent and the Grenadines. Although Quotex promises to safeguard client cash in separate accounts and utilize tight security, the absence of regulation may worry traders. Before investing with an unlicensed broker, consider the dangers.
Quotex is a good platform for beginner traders who want minimal costs and ease of use. However, their restricted product range and lack of regulation may hamper sophisticated traders. Check your requirements and trading experience to see whether Quotex is suited for you.
Conclusion
This concludes my year of Quotex use. I realize the charts, tools, and figures might be overwhelming at first. But breathe, start small, and use their customer assistance when required. Quotex simplifies trading for average people like us. No expensive degrees or decades of experience needed. A desire to learn, a willingness to start small, and patience to improve. Got it! See you inside.