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Quotex Trading Platform is Safe or Not for Beginner Investments

Quotex trading platform is a binary options broker that offers a wide choice of investments in it. This platform was founded in 2020 and is under the auspices of Awesome LTD whose address is Suite 1, Second Floor, Sound Vision House, Francis Rachel Str., Victoria, Mahe, Seychelles with ID: 221042.

Quotex also supports trading in company or securities options, forex, commodities, as well as several other indices such as the S&P. Apart from that, Quotex does not recommend users under the age of 18. To examine it in detail, you can read the following review.

Get to Know More About the Quotex Trading Platform

Quotex trading platform provides market signals as well as simulating trading on a custom web platform. However, some say that Quotex is a gambling site under the guise of trading.

Awesome Ltd is a developer and member of the IFMRRC or International Financial Market Relations Regulation Center. Although the shooting company is registered with IFMRRC, Awesome Ltd and Quotex are not registered with any country’s regulator.

Not only that, Quotex is also not included in the list of Bappebti or the Commodity Futures Trading Supervisory Agency. Meanwhile, according to the official website, it is recorded that more than 100 thousand trades have been carried out every day.

This trader platform is one of the sites that the government has blocked because it is considered an illegal investment site or could be said to be fraudulent. Most people also say that this platform is a gambling site that uses trading accessories.

IFMRRC as the umbrella platform is an independent third-party dispute resolution service and is not an official regulator.

However, the Quotex trading platform already exists in several countries. Moreover, there are more than 4 million users of this platform. In the Quotex trading platform, several investment products can be traded, namely 27 currency pairs, and stock exchange currencies, such as index-15, FTSE 100, and Dow Jones.

Not only that, Quatex also provides commodity assets such as silver, gold, oil, and other well-known energy and metal sources. Several cryptocurrencies are also included in this category, such as Litecoin, Bitcoin, Ripple, and Ethereum.

How Quotex Trading Works

To avoid other fake online trading applications, beginners need to know how fake online trading applications work. Of course, this also applies to the context of comparison when users try trading on another application. For this reason, if there are several similarities, users can take preventive action so as not to become victims of fraud from fake online trading applications. Several ways the Quotex trading platform application works.

  • First, users must register themselves first
  • After that, choose the digital asset or trading instrument that suits your wishes or each instrument of choice will show the percentage of profit from the investment
  • If you have chosen an investment asset, the user is required to choose a time range for exercising the option. Starting from 1 minute to 4 hours
  • Users must also deposit their betting balance into Mas. The minimum deposit on the Quotex application is 5 USD or the equivalent of IDR 27,000. These deposits can be in the form of dollars, euros, pounds, and Bitcoin
  • Next, users will bet up or down or leave on one asset
  • There will be a live price graph display that users can see
  • However, if it is wrong, the user will automatically lose 100% of the capital invested.

The working method is also applied to some binary option trading applications with the assumption that they are similar to the online concept which has resulted in Quotex becoming an illegal trading application and has been prohibited from operating by the Indonesian government.

In the binary options game, users only need to download the application on the Play Store, App Store, or via the website. Users can register with the binary options provider and make deposits. There is a different deposit amount for each provider, although it is usually US$ 10.

Is Quotex Safe for Beginner Investments?

Talking about security, of course, it’s not safe. This is because Quotex is not allowed by the Indonesian government. The Quotex trading platform is not registered with CoFTRA.

Despite this, many people try to trade on the platform. Quotes is an unregulated binary options broker, offering a property trading platform that does not require additional commissions and allows its users to start trading with a minimum investment amount.

For beginners who want to invest in Quotex, it is very important to pay attention to the advantages and disadvantages of this platform. Of course, users who are still beginners must be careful of online gambling fraud under the guise of trading. Learn first so you don’t make a wrong move.

Quotex trading platform can be an investment for beginners. Apart from that, you have to check the legality first. Even though you get a lot of benefits, don’t be easily tempted. That way, users who want to invest will not go the wrong way.

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