Is Quotex a Safe Broker?

No, Quotex is not a safe broker.

One of the questions I have encountered lately is this one: is Quotex available in USA? First and foremost, Quotex is not available in the US. That said, this question drew my attention to this broker. As I often do whenever I come across a new provider, I decided to research, test, and analyze Quotex. My goal was to ascertain if I should recommend it to our readers.

I’m glad I researched and tested Quotex broker before most of my readers fell for the company’s marketing ploys. Don’t believe the “testimonies” you’ll see online from people claiming they made large sums from Quotex; it’s a lie. Those are likely paid or fake reviewers. This broker is one of the worst service providers I have encountered in 2025.

Quotex is a Scam: Why?

Let’s kick off with the most important question: is Quotex legit?

If I were to list the shoddiest and most unreliable brokers today, Quotes would be in my top 10. After reading customer reviews and testing this service provider myself, I consider it to be nothing but a scam for the following reasons:

1. Lousy reputation

Before testing Quotex, I read the company’s reviews on the Play Store, Trustpilot, and REVIEWS.io. I noticed a few things. First, the broker has STELLAR reviews on REVIEWS.io and Trustpilot. However, upon reading the reviews, it became clear that many of them are formulaic, generic, and 100% fake.

Then, I checked comments from people who’d given this app lower ratings, and that’s when I realized something was not right. I saw many complaints surrounding critical issues like the sudden termination of funded accounts. Scary!

2. Manipulated outcomes

I came across countless complaints accusing Quotex of manipulative behavior. Apparently, this broker intentionally delays client orders. Furthermore, according to some reviews, this broker’s price feeds are often manipulated and show movements that don’t align with the real market.

Let me give you the overall gist of one of the comments. One user says he opened a trade and noticed it was going against his signals, despite evidence from other platforms saying otherwise. The worst bit is their screen began to lag and hang. He refreshed it only to discover he’d lost his money. Yikes!

3. Deposit and withdrawal complaints

While testing the platform, I tried using a live account. The registration process was straightforward, so I have no complaints here. The problem is, after initiating a deposit, I spent a considerable amount of time waiting for the funds to hit my account. I researched online and discovered this is a common issue. Most Quotex customers have experienced delays when it comes to deposits.

Withdrawals also took some time to be processed, and I’m not the only one complaining about this issue. Although the broker claims withdrawal delays are caused by identity verification issues, I believe this problem stems from lousy systems.

4. Questionable support

I’ve read many complaints from users saying Quotex failed to address their issues on time. Plus, its team isn’t keen on following up on concerns and inquiries. This is a significant problem since most of the complaints were related to serious issues like failed withdrawals.

Some users have also reported receiving generic responses and automated replies that were far from helpful. This can only mean one thing: this broker doesn’t have a knowledgeable or professional support team. If you don’t want to be frustrated, avoid this company at all costs.

Quotex Regulation

I didn’t cover regulation in the previous section because I believe this is a serious issue that demands its own space. If you’ve been following Invezty guides keenly, you know we consider trading with a licensed and regulated broker paramount! Why?

Licensed and regulated brokers follow strict guidelines tailored to optimize your protection as a trader. For instance, they keep your funds in a segregated account, far away from the funds they use to fund daily operations. They are also audited regularly by professionals to ensure they maintain transparent, ethical, and fair operations.

So, is Quotex regulated?

Surprisingly, Quotex is NOT licensed, authorized, or regulated by any respected authority. This has led to many questions surrounding the company’s legitimacy.

How to Recover Your Funds if You Got Scammed

Quotex advises everyone with an issue to contact its representatives. But here’s the catch: the broker says it does not restore closed accounts. This is suspicious, considering that many complaints indicate that this broker terminates accounts with money without notifying or warning their owners. That said, try contacting it; maybe your issue will be resolved.

Alternatively, if you funded your account with a debit or credit card, file a chargeback with your card issuer or bank. You’ll need sufficient evidence to prove your deposits, withdrawals, or services did not meet your expectations or align with this broker’s commitment.

You can also file a report with your region’s key regulators, cybercrime agencies, or law enforcement offices. Don’t forget to save your fellow traders from the same scam by sharing your experiences in popular online communities and forums for traders.

Our Broker Finder Will Help You to Choose the Best Trading Broker 

To avoid the issues associated with questionable service providers like Quotex, let Invezty help you find the best brokers in your region. We’ve been testing and reviewing brokers for many years. Our experts have published countless guides on the best trading brokers in different regions, from India and the UK to Australia, Canada, etc.

We don’t play around when it comes to recommending brokers. Our gurus always spend days on end vetting each service provider to ensure they have everything needed to facilitate safe, smooth, and seamless trading, from proper licensing to world-class customer support.

How to Protect Yourself from Scams by Trading Brokers

The best way to avoid scams is by thoroughly researching every broker before signing up. Check every crucial aspect, especially licensing, security, and online reputation. If a broker is not licensed by a top-tier authority like the SEC, the FCA, or ASIC, avoid it. Also, don’t put too much trust in companies that claim to be regulated by little-known offline authorities.

Furthermore, you should familiarize yourself with the tactics that scammy providers use to net their victims. These include offering unrealistic, risk-free returns. Trading is risky; every legit broker will tell you this in clear terms.