Quotex Review 2026: Should You Trade with This Broker?

This Quotex review provides an in depth look at the broker's regulatory standing, or more precisely, the absence of it, alongside its WikiScore rating, official disclosure history, and user feedback compiled on WikiFX. As a global broker regulatory query platform, WikiFX assesses brokers using indicators such as licensing, transparency, risk control records, and exposure reports submitted by users.

According to WikiFX, Quotex holds a WikiScore of 1.54 out of 10, placing it among the lowest rated brokers tracked on the platform. WikiFX has also noted that the score was further reduced due to a high volume of unresolved client complaints, and the platform's warning reads: “Low score, please stay away.” Anyone conducting a review Quotex search should pay close attention to both the broker's regulatory profile and the reported client experiences.

View WikiFX's full review on Quotex here: https://www.wikifx.com/en/dealer/2675855266.html

Introduction

Quotex is operated by Maxbit LLC, a company registered in Saint Vincent and the Grenadines, an offshore jurisdiction known for minimal financial regulatory requirements. The Quotex broker has been in operation for 5 to 10 years, having launched in 2020. Its website is quotex.io, and its listed address is First Floor, First St Vincent Bank LTD Building, James Street, Kingstown, St. Vincent and the Grenadines. Customer support is offered via Telegram, Facebook, and Instagram.

Quotex operates a proprietary trading platform available on desktop and mobile, without support for MetaTrader 4 or MetaTrader 5. The minimum deposit is $10. Traders looking for the official Quotex login should always ensure they are using the broker's verified website to reduce the risk of phishing or clone websites.

Regulatory Status of Quotex

The most critical finding in this Quotex review is straightforward: Quotex holds no valid Forex Trading Licence from any recognised financial authority. WikiFX lists zero Forex licences for this broker, and the regulatory status is classified as Not Regulated. Its licence index, risk control index, and regulation index all register at 0.00.

Saint Vincent and the Grenadines does not operate a Forex regulatory framework. Registration in this jurisdiction does not constitute financial regulation, does not require brokers to maintain segregated client accounts, and does not provide investors with access to a compensation scheme or formal dispute resolution body.

From a Quotex regulation perspective, this regulatory vacuum means that traders who deposit funds with the broker have no formal mechanism to compel the broker to return those funds in the event of a dispute, withdrawal refusal, or platform closure.

Official Regulatory Warnings

What distinguishes this Quotex review from a straightforward unregulated broker profile is the existence of three official regulatory disclosures issued against the platform by financial authorities in different countries.

Portugal's financial markets regulator, the CMVM, has issued a formal warning to investors about Quotex, specifically naming both Maxbit LLC and Awesomo Ltd, another entity associated with the platform, as operating without authorisation.

Indonesia's BAPPEBTI has included Quotex among 1,222 illegal commodity futures trading websites it identified and blocked.

Perhaps most directly relevant to readers in Southeast Asia, Malaysia's Securities Commission SC has included Quotex on its Investor Alert List, identifying it as an unauthorised entity.

These three regulatory disclosures from separate jurisdictions represent an extraordinary risk signal. Regulatory alerts of this nature are not issued routinely. They indicate that multiple government financial authorities have independently reviewed this broker and determined that it poses a risk to investors.

What Can Traders Do on Quotex?

Quotex markets itself as a binary options and CFD trading platform, offering access to currency quotes, stocks, cryptocurrencies, metals, major currency pairs, and oil and gas, covering more than 400 instruments in total. It provides a $10,000 demo account with unlimited refills, a 30 percent bonus on first deposits, and a $1 minimum trade size. Withdrawals are processed via Visa and may take between 1 and 5 days.

The platform is described by some users as visually clean, fast, and easy to navigate, and the low minimum deposit has made it accessible to traders in developing markets. However, ease of entry does not address the fundamental absence of investor protection that defines the platform's risk profile.

For traders interested in Quotex Forex trading, it is important to remember that the broker operates without recognised financial regulation.

It is also worth noting that binary options, a product category that Quotex is closely associated with, are banned or heavily restricted in many major jurisdictions, including Australia, the United Kingdom, and the European Union, because of their high risk profile and frequent association with fraud.

What Do Users Say About Quotex?

WikiFX has recorded 34 user comments for Quotex, including 16 positive, 4 neutral, and 14 exposure reports. The split is broader than most high risk brokers, reflecting the platform's large and geographically diverse user base. However, the nature and financial scale of the negative reports demand attention.

One user from India described depositing more than $35,000 in total, building a balance of $43,000 through trading, only to have their account suspended during the withdrawal process with no explanation provided. The user reported that a refund in 30 days email was sent as what they described as a delay tactic, and that no resolution followed.

A user from Iraq, an official affiliate partner rather than a trader, reported that $24,340 in earned affiliate commissions was withheld without justification, and that the case had been reported to the FBI Internet Crime Complaint Center.

An Egyptian user described depositing through a local payment gateway in February 2026, only to have the server mark the transaction as failed while the funds were confirmed deducted from their mobile wallet. After four months of ignored follow up, their account was blocked when a formal legal notice was sent.

A user from Colombia reported six failed withdrawal attempts, each returning an error message about incorrect account details despite the user having verified all information. No resolution was provided by support.

Among the positive reviews, a user from Iran described using the platform for more than eight months with satisfactory withdrawal speeds via USDT, and praised the demo account and $1 minimum trade size. A user from Guatemala highlighted fast withdrawals and no withdrawal commission. These experiences suggest the platform functions for some users, though they stand in contrast to the serious complaints on record.

Conclusion

This Quotex review outlines a broker with a WikiScore of 1.54 out of 10, no valid financial licence from any recognised regulatory authority, three official regulatory warnings from Portugal, Indonesia, and Malaysia, and 14 user exposure reports on WikiFX documenting withheld funds, blocked accounts, and unresponsive support.

While some traders report positive experiences, particularly around platform accessibility and small scale withdrawals, the structural risk posed by the Quotex broker is significant. From a Quotex regulation standpoint, there is no recognised investor compensation scheme, no regulatory body to escalate complaints to, and no formal protection against fund misappropriation. The regulatory warnings from multiple jurisdictions further underscore the risk.

For anyone researching broker Quotex, review Quotex, Forex Quotex, or login Quotex, these findings should be weighed carefully against the appeal of the broker's low minimum deposit and straightforward interface. The absence of recognised regulation is not a technicality. It is the single most important factor in determining how protected a trader's funds are, and in this case, that protection is absent.