If you’re looking for a reliable online trading platform, Quotex Trading might have come across your radar. Quotex Trading is an online trading platform that offers binary options trading services to traders from all over the world. However, there are some questions that arise when it comes to the legitimacy of this platform. Is Quotex Trading real or fake? In this article, we will provide you with a detailed analysis of Quotex Trading and help you decide if it is a trustworthy platform to use for trading.
Introduction to Quotex Trading
Quotex Trading is an online binary options trading platform that was launched in 2020. It is owned and operated by Quotex Limited, a company registered in Saint Vincent and the Grenadines. The platform offers a wide range of trading assets, including forex, stocks, commodities, and indices. It boasts of a user-friendly interface, fast trade execution, and a variety of trading tools and indicators.
Quotex Trading License and Regulation
One of the most important factors to consider when deciding on a trading platform is whether it is licensed and regulated by a reputable authority. Quotex Trading claims to be regulated by the International Financial Market Relations Regulation Center (IFMRRC), an independent regulatory organization that oversees the activities of financial companies involved in the trading of binary options, forex, and cryptocurrency.
However, upon closer inspection, it turns out that IFMRRC is not a regulatory body recognized by any reputable financial authority. In fact, the organization has been flagged as a scam by several regulatory bodies, including the Financial Conduct Authority (FCA) in the UK.
Quotex Trading Customer Support
Another important aspect of any trading platform is its customer support service. Quotex Trading offers several channels for customer support, including email, phone, and live chat. However, some users have reported that the response time for customer support queries can be slow, with some queries taking days or even weeks to be resolved.
Quotex Trading Reviews and Reputation
The reputation of a trading platform is critical in determining whether it is legitimate or not. Unfortunately, Quotex Trading has mixed reviews online, with some users claiming to have had positive experiences with the platform while others have reported being scammed. Some users have reported that the platform’s customer support service is unreliable and that the withdrawal process can be slow.
Quotex Trading Account Types and Deposits
Quotex Trading offers four different account types, each with its own set of features and benefits. The account types are Basic, Silver, Gold, and VIP. The minimum deposit required to open a Basic account is $10, while the minimum deposit for the VIP account is $10,000.
The deposit and withdrawal methods available on Quotex Trading include bank wire transfer, credit/debit cards, and e-wallets. However, some users have reported that the withdrawal process can be slow, with some withdrawals taking weeks or even months to be processed.
Quotex Trading Trading Platform
The trading platform used by Quotex Trading is a web-based platform that can be accessed from any device with an internet connection. The platform is easy to use and features a variety of trading tools and indicators. It also offers several types of binary options trading, including High/Low, One Touch, and Boundary.
Quotex Trading Education and Resources
Quotex Trading offers a variety of educational resources to help traders improve their skills and knowledge of the markets. These resources include video tutorials, eBooks, and webinars. However, some users have reported that the educational resources are not comprehensive enough and that they lack depth and detail.
Is Quotex Trading Real or Fake?
Based on our analysis, it appears that Quotex Trading may not be a trustworthy platform for trading. The fact that the platform is not licensed and regulated by a reputable financial authority is a red flag. Additionally, the mixed reviews and reports of slow customer support and withdrawal processing times raise concerns about the platform’s legitimacy.