Quotex

Quotex broker is a trading platform that has been operating since 2019 and is known among Iranian users for its $10 minimum deposit, Persian-language website and crypto deposit option. In this overview, we review Quotex's licensing status, deposit and withdrawal methods, platform and the risks of trading with it based on Teagle's data, so you have a clear picture of this platform before making any deposit.

What kind of broker is Quotex?

Quotex was launched in 2019 and, according to Teagle's data, is operated by ON SPOT GROUP LLC in Saint Kitts and Nevis. The platform claims to offer access to more than 400 trading instruments, including currency pairs, stocks, indices, commodities, metals and cryptocurrencies. With about 7 years of history, Quotex is still considered a young broker, and more important than its age is the lack of oversight by a reputable financial authority, which we cover below. Teagle's reviews also show that reports of withdrawal problems and account blocking have been recorded for this platform.

Quotex broker licenses and credibility

Quotex's biggest weakness is its regulatory status. Teagle's license list shows only one registration, with the Financial Services Authority under number 794, and no active status is recorded for it. According to Teagle's data, this was an offshore registration in Saint Vincent (SVG FSA) and has expired; moreover, even while valid, such a registration did not count as a forex trading license or legal protection for clients. As a result, Quotex effectively holds no active license, and Teagle's expert has reported that the platform has been placed on the regulatory warning lists of reputable authorities. If the difference between these kinds of registrations and real licenses isn't clear to you, read the guide broker regulation and its tiers and the article the difference between offshore and onshore brokers .

Does Quotex serve Iranians?

Iran does not appear on the registration page of Quotex's official website, but according to Teagle's review, Iran is listed in other sections of the platform, including the deposit section of the user profile, and Iranian users can deposit with cryptocurrency and trade. A Persian-language website is also available. However, when a platform has no active license, accepting Iranian users is not in itself a sign of safety, and in the event of a dispute there is no authority to turn to.

Quotex trading accounts

Teagle's data lists only one live account (Real) for Quotex. Its minimum deposit is $10, no leverage or commission is specified for it, and the spread type, requote status and availability of an Islamic account are unknown. Tradable symbols include currency pairs, stocks, indices, commodities and cryptocurrencies. Quotex also offers a free demo account, which is useful for getting familiar with the platform without risk; to learn about the benefits and limitations of practicing on a demo account, see the article the best brokers for trading with a demo account .

Quotex trading platform

Quotex does not use MetaTrader; trading takes place on its proprietary QxBroker platform, whose Android version is available on Google Play and whose iOS version is available as a web app (PWA). Teagle's expert notes that this platform lacks MetaTrader's analytical features and transparency. The only review of Quotex posted on Teagle so far also mentions bugs in the mobile app and misaligned candles, although its author was satisfied with the Windows version. If you work with digital trading platforms, review the common warning signs of misconduct in the article binary options scams and how to avoid them .

Deposits and withdrawals at Quotex

Deposits and withdrawals at Quotex are made only with cryptocurrency. According to Teagle's table, the minimum Tether deposit depends on the network: $15 on TRC20, $20 on BEP20 and $10 on ERC20; $15 is also listed for Tron. The deposit fee is only the network fee, and processing time depends on the network. The first two withdrawals are free, but from the third withdrawal onward a 3% fee plus the network fee is deducted; a cost that adds up with frequent withdrawals.

Quotex's rating and risk on Teagle

Quotex's final score on Teagle is 1.27 out of 5, derived from three sources: Forex Peace Army 1.324, Teagle's expert 1.5 and WikiFX 1; Teagle user ratings have not been recorded yet. The Teagle Eye risk index for this platform is 72 out of 100, in the "High risk" category; the main factor is the absence of any active license. Teagle's expert has also reported numerous complaints about unpaid profits, account blocking and withdrawal problems. See where this platform stands in Teagle's list of high-warning brokers .

Pros and cons of Quotex broker

• Pro: free demo account to get familiar with the trading environment
• Pro: low minimum deposit ($10)
• Pro: Persian-language website and cryptocurrency deposits
• Con: no active license and no verifiable registration number
• Con: reports of withdrawal problems, account blocking and unpaid profits
• Con: no live support, a proprietary platform without MetaTrader's features, and a 3% withdrawal fee from the third withdrawal onward

Who is Quotex suitable for?

In Teagle's view, Quotex is at best worth considering only for those who want to get familiar with the market using a demo account or very small amounts. It is not suitable for professional traders, investors with large sums, or anyone who prioritizes regulatory safety. If you are torn between similar platforms, weigh Quotex against its rival in the Quotex vs Pocket Option comparison .

Conclusion

Quotex offers Iranians easy entry, a Persian-language website and crypto deposits, but its lack of an active license, high risk index and recorded withdrawal complaints place it among very high-risk options. If you still intend to try it, only deposit money you can afford to lose, make a test withdrawal before anything else, and follow the latest warnings on the investment risk warning page .