Quotex Information
- Quotex Website – https://qxbroker.com/
- Website Availability – Yes
- Address shown – Main Street, P.O. Box 625, Charlestown, St. Kitts and Nevis.
- Quotex Owned By – Quotex
- Warned By – Comisión Nacional del Mercado de Valores (Spain) and Commissione Nazionale per le Società e la Borsa (Italy)
- Domain Age of Quotex
- Name QXBROKER.COM
- Registry Domain ID 2613305082_DOMAIN_COM-VRSN
- Registered On 2021-05-19T11:21:08Z
- Expires On 2034-05-19T11:21:08Z
- Updated On 2024-07-08T11:45:30Z
Quotex – A next-generation trading platform that was launched and established in the year 2019 by Maxbit LLC and runs from the legal jurisdiction of St. Vincent and the Grenadines. Though it’s making numerous claims on behalf of its operations, there are serious concerns about its working. This review will help you understand the problems surrounding this platform.
Quotex Real or Fake: Understanding the Reality
Quotex is professional at face value and offers tools, including the Quotex app, Quotex demo account, and Quotex app download options. Upon further scrutiny, however, problems arise.
Even Maxbit LLC is in St. Vincent and the Grenadines; its SVG Financial Services Authority has not regulated or licensed any forex and binary options trading. In short, Quotex is running, garnering no real regulatory supervision.
Additional probes further show that the Italian Commissione Nazionale per le Società e la Borsa (CONSOB) and the Portuguese Securities Market Commission (CMVM) have both issued warnings against Quotex. Clear indications are that the platform lacks authorization for providing any financial services.
Quotex Withdrawal Problems
One of the prominent issues reported by the users is Quotex withdrawal problems. Most of the traders are complaining about the delays or the withdrawals being shot down completely. The users are provided with almost no protection if their funds are locked up, as there is no legitimate regulation in place governing the operations of the firm.
Is Quotex Safe or Not?
The answer to the question of whether Quotex is safe or not would, in most cases, be just “not safe.” There is no guarantee of fund safety without regulation. It follows that, in case of any problem, an investor will have no official authority to turn to in seeking redress. The canceled license of Maxbit LLC only worsens the situation even more.
The Quotex App and Demo Account
The application of Quotex and Quotex demo accounts is just amazing for beginners to learn to trade in a practical environment. The app is very user-friendly, and new traders can practice without any money at stake. However, behind this beautiful facade lies the reality that there is no legality of the platform. It gives a false sense of security to users in the beginning, but that all changes after starting actual trading.
Final Words: Quotex Review Conclusion
This review of Quotex makes it clear that while the platform looks very credible, it lacks substantial regulatory authorization. The warning issued by CNMV and CONSOB regarding the Quotex withdrawal problems,
This Obvious lack of regulation provides evidence of serious risks. Traders must look for a platform that is regulated by a strong and reputable organization. Unfortunately, it appears that, for the time being, Quotex simply cannot be trusted.
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