What is Quotex?

This is the first Question that anyone who comes across the Qx broker for the first time asks. What is Quotex?

In this blog, I will try to explain to you what the Quotex broker does, what it is all about, and why it is known as the Qx broker in other markets, Quotex.io in others, and Quotex in the majority of the trading markets.

Before we begin, though, open a Quotex demo account to make it easier to follow along with the content of this blog.

By opening a trading account with the link above, you also qualify to use our promo codes for future deposit bonuses, which can be as high as 100%, especially at the beginning of a new month.

Back to our topic of interest, what is Quotex?

Quotex is a binary options trading platform that helps traders make money by speculating the price of different financial instruments offered on the platform.

As a binary options trader on the Quotex platform, you will make money when you trade with a real account and, in doing so, predict that the price of an asset will rise or fall. If the price goes in your favor, you end up making up to 95% profits on that successful trade.

If you are not sure about trading or how to get started, watch the video below for quick guidance.

Did you watch the video?

How much did you learn about trading? Much, right?

Now, the next thing that you will want to do is practice trading. And believe me when I say, you can practice trading on a demo account risk-free without ever losing a cent of your hard-earned money.

How is that possible, you ask?

The secret is to use a demo account for trading until you are well-versed in the Quotex trading platform.

Only then should you deposit real money to start trading in a real account.

Is Quotex Legit? ++ Is Quotex a regulated broker?

If this is the next question you asked Google after learning what Quotex is and before creating your demo account, then chances are, you will become a successful trader.

While most traders just register demo trading accounts by accident, deciding whether to open an account with a broker before actually opening that account is always a wise idea.

Why? Because creating an account with a regulated broker means that:

1. Your interest is taken care of as a trader. Should there be any unfair dealings that you recognize with the broker that you are trading with, then you can easily report them to the regulatory body to have them kept in check.
2. Your money is kept safe. When a broker is regulated, the effect of that regulation is also reflected in how they handle client funds. Most regulated brokers will have client deposits kept in separate accounts from their personal finances. This not only ensures that a broker does not trade with client money but also that, if they go bankrupt, traders can still get their money back.
3. Traders can get compensation for unfair dealings by the broker. As mentioned earlier, trading with a regulated broker gives you some powers as a trader. You can report an unfair broker to the regulatory body, and if you win the case, you should be compensated. Some brokers claim to have a compensation fund that guarantees as much as $20,000 to clients.

Simply put, the benefits that you get from choosing to trade with a regulated broker outweigh the risks. As such, it is my recommendation to only trade with Quotex, which, in my opinion, is regulated.

To find out more about this regulation and to answer your question, is Quotex legit?

I have compiled a list of some of the features that I have noted on the Quotex platform that make me think that it is one of the good ones.

Here are some of the reasons why I think that the Qx broker platform is legit.

• Quotex Regulation

Quotex is regulated by the International Financial Market Relations Regulation Center (IFMRRC), which is a non-commercial organization created to regulate the quality of services provided by brokers and dealing centers, as well as the reliability of services provided by participants in the cryptocurrency market: cryptocurrencies, cryptocurrency exchange markets, cryptocurrency cloud mining services, and companies.

And what does this mean to you as the client?

It means that your interest is represented and should Quotex fail to meet its obligations to you as a trader, then:

1. IFMRRC will pay you back the amount you deposited in your Quotex account, subject to your providing proof of deposit (this only applies if Quotex goes bankrupt).
2. IFMRRC will also pay you back your deposited amount (subject to the provision of proof) if Quotex is dissolved as the result of force majeure or other circumstances.

These are just a few instances where trading with a regulated broker will work in your favor. If you want to know more about what IFMRRC can do for you as a Quotex trader, visit their official website and navigate to the “advantages for clients” section.

• Quotex uses an SSL certificate for data protection

SSL, also known as secure socket layers, is an encryption security protocol used by websites to help protect user data on the internet.

Since there is money involved when using the Quotex website, Qx broker finds it responsible for encrypting data sent between its website and the browser you use to access the platform.

This gives you an extra layer of protection when transacting between Quotex and your bank, crypto wallets, or eWallets.

And that’s not all; Quotex also recommends that users use two-step authentication methods to help protect their accounts from intrusion.

Doing this and trusting Quotex systems goes a long way toward your account’s security.

• Quotex payouts and prompt.

Another factor that we can look at when determining the legitimacy of the Quotex trading platform is its payout system.

1. How long does it take to receive earnings withdrawn from Quotex?
2. What’s the maximum withdrawal you can receive from Quotex?
3. How does the Quotex platform deal with payment problems?

The answers to these questions can be bundled into a single paragraph.

How fast a client on Quotex receives his payouts is relative. While one client may receive his earnings in a few minutes, the other may take hours to see withdrawals, and another may take up to 5 business days.

It all depends on the payment method you used for deposits. Ideally, eWallets are the fastest for both deposits and withdrawals. Bank cards, on the other hand, are the slowest.

And again, depending on the limit set by your bank card or eWallet, you can only withdraw so much.

If you bump into errors when withdrawing funds, contact Quotex customer support, and they will sort you out.

How Quotex Works. Binary Options Trading for Beginners

To understand how Quotex works, you will first need to learn about binary options trading, or fixed-time trading, as it is now known on some binary options trading platforms.

So, what is binary options?

Binary options trading, or fixed time trading, refers to a type of financial exotic trading where traders are paid a fixed percentage of income on won trades and nothing at all on lost trades.

Anyone who chooses to trade binary options should be well aware of the possibility of losing all the invested money. But how else is investing possible if we remove the risk factor?

I can’t seem to find my way around that answer.

Anyways, just like it is my responsibility to inform you of the risks associated with binary options trading, it is also my duty to inform you that trading binary options in Quotex successfully pays up to 95% profits. Lest I be called out for being biased?

Do you still want to know how Quotex works even after such revelations?

Well, here’s my simple Quotex answer and guide to working with Quotex.

As earlier mentioned, Quotex is a binary options trading platform, and as such, it works based on rewarding a trader for successful trades and only reprimanding a trader for losing trades.

This means a trader who uses Quotex will not lose more than they have invested in a specific trade.

Here’s, however, a simpler way to understand how Quotex works.

Understanding How Quotex Works

1. Login to your Quotex account. Step 1

To open your first binary options trade in Quotex, you will need to first log in to your Quotex account.

If you don’t have an account in Quotex, it is important to create a demo account here for a risk free trading experience.

Other than using the Quotex demo account to open binary options trades without risking real money, you can also use your demo account to create new trading strategies, as you will later learn in the guide.

Have you already logged in to your trading account?

Go to the next step to start the process of placing your first trade in Quotex.

2. Choose an asset to trade. Step 2

Have I already mentioned that Quotex has over 100 financial instruments that you can trade across various financial assets, such as:?

1. Currency pairs
2. Commodities
3. Stocks
4. Indices
5. And crypto?

Well, that’s the naked truth. These assets have derivatives controlled by the Quotex trading platform that can be traded even on weekends.

You will find all the assets available to trade in Quotex in the top left corner of the trading platform.

You can also use the filter tool in this section to select more relevant instruments to trade.

For example, you can use the filter tool to see only currency pairs, and if currency pairs alone are not enough, you can narrow down to high ROIs, majors, minors, or exotics.

Once you find what you are looking for, just click on the plus button beside it to add it to the trading platform for easy access.

Lest I forget, choosing an asset also adds it to the chart, and you can use this chart to tell the direction of the asset.

If you can’t find a definite trend to trade, try customizing the charts by either choosing a different chart (Quotex has an area chart, Heiken Hashi, candlestick chart, or bar chart).

Also, you can use technical analysis tools such as indicators or drawing tools to find all the areas of interest in the charts.

3. Set a fixed time for your trade.

Before you proceed to place a trade in Quotex, you will first need to set a fixed time for your trade.

This fixed time is a representation of the duration you want the trade to last.

Do you want your trade to last for 5 seconds? 30 seconds? 1 minute or several hours.

Whatever duration you want for your trade, this is where you set it up.

Alternatively, the fixed time option is the time option.

And what is this, you ask? This is the option that allows you to open a pending trade on Quotex to be executed at a later date when all the parameters set are met:

Some of the requirements for opening a pending trade in Quotex include:

1. Setting a quote or time you want the market to consider before opening your trade. For example, you can choose 8:00 a.m. as the trade execution time if you want your trade to open at that time. Or, you can just enter a Quote like 53.053 when trading UKBrent, and if the market gets to that quote, your trade is opened.

If it is a pending trade that you have settled for, then you must also set a period for your trade and an investment amount before settling for either the UP or DOWN direction for your trade.

4. Choose your investment amount

The investment amount is how much you want to stake per trade. At Quotex, the minimum trade amount is $1 and the maximum trade amount is $1,000.

Investing either amount in a trade means that if the trade wins, you earn up to 95% of the traded amount.

For example, if you place a trade with $1,000, if that trade wins, you will make $950 on that trade.

A losing trade, on the other hand, only deprives you of the traded amount. In our case, $1,000.

Before you decide to enter $1 or $1,000 in that investment amount box, ask yourself these questions:

1. Am I trading with my disposable income?
2. Can I afford to lose this amount on this trade?
3. How will losing this trade impact my life?
4. How will losing this trade affect my finances?

Continue to enter the amount you want to trade if your answers are satisfactory.

5. Trade UP or DOWN.

Do you still remember the words I used in the introduction of this post?

How binary options work is how Quotex works. Quotex gives you two options to trade, the UP option and the DOWN option.

Choosing the UP option means that you are predicting that the price of the asset you are trading will increase within your specified fixed time.

If it increases, you make profits. If it loses, you lose your invested amount.

Choosing the DOWN option on the other hand tells the system that you want the price of the asset you are trading to fall within the selected time duration.

If at the expiry of that trade, the price of your selected asset falls, you make money.

After you have picked the asset you want to trade, the duration of the trade, and the investment amount, it is now time to decide the direction of the trade.

Click the green button to open a UP trade and the red button to open a down trade.

Quotex Demo. How Does the Qx Broker Demo Account Work? ++ Registration

Now that we know most things about Quotex, let’s prepare to create an account. As a rule of thumb, every new trader should start on a demo account before investing real money. Remember, trading is risky, and you can lose all your money.

But what is this demo account?

I will explain it to you in this section.

Just be sure to create a demo account for Quotex to make it easier for you to follow along with what we will be discussing henceforth.

It is free to create a demo account in Quotex and all new accounts come with $10,000 for demo trading and for experiencing the trading platform.

Create your Quotex demo account.

Have you already registered in Quotex?

Now, let’s go back to our main topic for today. A demo account, what is it, and is it also found in Quotex?

A demo account is a special account type issued by brokers to new clients to aid them in experiencing the new trading platforms before deciding if to hop to the real account or not.

Most binary options brokers give as much as 10,000 USD in the demo account and traders can use this money to practice trading risk-free.

It is also worth mentioning that the demo account money can run out and if it does, you should not worry, just click on the demo account balance then tap on the refill button to reinstate the balance back to $10,000.

Quotex demo

At Quotex, the demo account comes with $10,000 replenishable at any time and as many times as a trader may require.

In random instances, you may access the Quotex demo account without giving the platform your personal information.

This option is only available to traders who access the platform via this universal link.

Quotex demo account features.

1. Offers $10,000 to new traders – If you create a new account in Quotex, you will get 10,000 USD virtual cash which you can use to access the Quotex trading platform for free and explore all its features before investing real money.
2. FREE refill – As you practice on the Quotex demo account, you will notice that your balance will reduce as you continue to open losing trades. You can refill your Quotex demo balance back to $10,000 with a simple click. Just click on your demo account balance and tap on the refill button to refill the demo account for FREE.
3. Access to all financial instruments – While some brokers may limit a trader’s access to its assets and financial instruments when using a demo account, Quotex doesn’t. With the Quotex demo account, you are allowed to access all the features of the platform including the market, real-time.
4. Unlimited use – Even after you have made your first deposit and started trading with real money in Quotex, your demo account will be kept active. And do you know what that means? You can switch freely between the demo account and the real account for as long as you are still trading actively.

How to register a demo account in Quotex

Account registration in Quotex is a simple process that anyone above the age allowed on the platform can do.

If you are afraid of making mistakes on the demo account registration process, follow this guide and I will see you through to success.

Visit the official Quotex Website #Step 1

As mentioned in my previous post, you can access the Quotex platform via either of these three links: –

1. quotex.com
2. qxbroker.com
3. quotex.io

Regardless of the link you choose to access the Quotex website, you will end up on the official Quotex website.

Click the SIGNUP button #Step 2

Use any of the sign up buttons on the official Quotex website to register your new demo account in Quotex.

Regardless of the registration button you use, whether labeled: –

1. Sign Up
2. Registration
3. Open a demo account

You will be redirected to a registration form where you should enter your: –

1. Valid Email address
2. Preferred password
3. Choose a base currency for your demo account
4. Read and check the service agreement box

Before you tap on the blue registration button on the form.

Quotex demo account registration with Facebook

Alternatively, you can create a demo account in Quotex by clicking on the Facebook button on the registration form. In this case, you will be redirected to a Facebook auth page where you will be required to enter your Facebook password to give Quotex access to your profile.

Choosing to sign up with Facebook also means that Quotex will update your Email address as the Email used in Facebook and your Personal information as those used in Facebook.

It helps if the Facebook account you link to Quotex is not a pseudo as Quotex may require you to verify your Email in the later stages of your trading activity.

Quotex demo account registration with Gmail.

The last viable method that you can use to open a demo account in Quotex is Google’s Gmail.

On that same registration form that we saw earlier, click on the Google icon below the registration button and allow Qx Broker to access your Gmail.

By doing this, Quotex will create your account with the details available in Gmail and allow you access to that new account.

Frequently Asked Questions

1. Can I withdraw profits earned on the DEMO account?

Unfortunately, funds provided for FREE on all Quotex demo accounts are virtual cash. The other name for virtual cash is fake money. Meaning, you can only use this money for the purpose it was intended for, which is trading practice.

Other than that, the demo cash is useless.

You will need to deposit at least $10 to activate your Quotex real account to start making real money on winning trades.

2. Will I lose my demo account when I activate a real account?

The simple answer is no!

Quotex demo accounts are not deactivated when traders start trading with a real account.

You can still switch from a demo real to a demo account when you want to create new strategies, test new strategies and/or trade for fun.

3. What happens when my demo account balance is depleted? 

This should not cause any alarm. The Quotex demo account is designed to allow you infinite refill chances.

Just click on your demo account balance and tap on the refill button to make your account whole again.

4. Is Quotex the same as Qx Broker?

The simple answer is YES. Quotex is the same as Qx Broker and it can be accessed either on the Quotex.com website, Qx broker website link or on the Quotex.io link.

While some brokers may have subdomains pointing to their servers for specific regions, others prefer to use new domains altogether.

This benefits Quotex immensely because the Quotex website is multi-regional and multilingual. For example, Qxbroker.com may be used to access the Quotex website from South America, and Quotex.com for accessing the website from Africa and Asia.

One thing to note though, the content of the website does not change, in fact, this method only makes access to the website seamless and fast.