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Quotex Review: Scam Alert! Unregulated & Withdrawal Issues

Operating status: SCAM

Website: https://quotex.com/en; https://qxbroker.com/; https://qxbroker.com/; https://quotex.io/; https://quotex.io/; https://partner.qxbroker.com/; https://rcinvest.xyz/

Broker violations and abnormal records
  • 2021-11-19 The Italy CONSOB Added Quotex into Its Warning List

    On 20th Dec 2021, the Italy Commissione Nazionale per le Società e la Borsa (CONSOB) issued a warning against Quotex for offering investment, financial and insurance services without the required authorizations. You may visit: https://www.consob.it/web/consob-and-its-activities/warnings/documenti/english/entutela/cns/2021/enct20211220.htm?hkeywords=Vigo+and+Co+Llc&docid=7&page=0&hits=215&nav=false

    On 20th Dec 2021, the Italy Commissione Nazionale per le Società e la Borsa (CONSOB) issued a warning against Quotex for offering investment, financial and insurance services without the required authorizations. You may visit: https://www.consob.it/web/consob-and-its-activities/warnings/documenti/english/entutela/cns/2021/enct20211220.htm?hkeywords=Vigo+and+Co+Llc&docid=7&page=0&hits=215&nav=false
  • 2022-12-18 BrokersView has Reviewed that Quotex is an Unregulated Broker

    Quotex claims to be owned and operated by Maxbit LLC, a company registered in St. Vincent and Grenadines. We indeed find a match result to Maxbit LLC in St. Vincent and Grenadines Financial Services Authority (SVG FSA). But SVG FSA is not a financial regulator that issues licenses for forex trading or regulates entities engaging in forex.

    More important, the Italy Commissione Nazionale per le Società e la Borsa (CONSOB) issued a warning against Maxbit LLC for providing investment, financial services without required authorizations.

    The truth is, Quotex is not under valid regulation by any regulators to provide investment services. Investors' funds in this company are unsafe and cannot be protected by any law. Therefore, it is a scam. 

    Quotex claims to be owned and operated by Maxbit LLC, a company registered in St. Vincent and Grenadines. We indeed find a match result to Maxbit LLC in St. Vincent and Grenadines Financial Services Authority (SVG FSA). But SVG FSA is not a financial regulator that issues licenses for forex trading or regulates entities engaging in forex.More important, the Italy Commissione Nazionale per le Società e la Borsa (CONSOB) issued a warning against Maxbit LLC for providing investment, financial services without required authorizations.The truth is, Quotex is not under valid regulation by any regulators to provide investment services. Investors' funds in this company are unsafe and cannot be protected by any law. Therefore, it is a scam.
  • 2023-01-02 The Portugal CMVM Added Quotex into Its Warnings

    On 3 Jan 2023, the Portuguese Securities Market Commission (CMVM) issued a warning that Quotex was not authorised to carry out any type of financial intermediation activity in Portugal. You may visit: https://www.cmvm.pt/en/SDI/FinancialIntermediaries/Pages/20230103d.aspx?v=

    On 3 Jan 2023, the Portuguese Securities Market Commission (CMVM) issued a warning that Quotex was not authorised to carry out any type of financial intermediation activity in Portugal. You may visit: https://www.cmvm.pt/en/SDI/FinancialIntermediaries/Pages/20230103d.aspx?v=
  • 2023-01-02 BrokersView has Found that Quotex is Using New Domains

    BrokersView has found that Quotex is using new domains to scam. They are:

    https://qxbroker.com/

    https://quotex.io/ 

    https://partner.qxbroker.com/ 

    https://rcinvest.xyz/

    BrokersView has found that Quotex is using new domains to scam. They are:https://qxbroker.com/https://quotex.io/ https://partner.qxbroker.com/ https://rcinvest.xyz/
  • 2023-09-26 BrokersView notices that the SVG FSA no longer includes information related to Quotex

    While Quotex remains claiming that it is operated by Maxbit LLC, which is registered in St. Vicent and the Grenadines, our search for the company in the register of the Financial Services Authority (SVG FSA) revealed that there isn't any information related to Maxibt LLC. This means its license with SVG FSA has been cancelled.

    While Quotex remains claiming that it is operated by Maxbit LLC, which is registered in St. Vicent and the Grenadines, our search for the company in the register of the Financial Services Authority (SVG FSA) revealed that there isn't any information related to Maxibt LLC. This means its license with SVG FSA has been cancelled.

Related Complaints

Q&A Complaints

My money's stuck in Quotex after requesting a withdrawal. Am I getting scammed?

zpunchclaos
Cambodia
2025-01-28
ANSWER Dear Investor, Quotex is a known scam platform, and we have received numerous complaints about withdrawal issues and malicious manipulation, accusing it of operating fraudulent schemes. We strongly advise against trusting Quotex any longer, as they may demand additional fees for withdrawals by preying on your urgency. Paying these fees could result in further losses. We suggest you report this matter to your local authorities. In addition, we encourage you to file a complaint on our platform. Our dedicated team will thoroughly review your case and diligently explore any potential solutions. Rest assured, we are always here to support you. Lastly, beware of recovery room scams where unsolicited messages claim they can recover your money for a fee. These fraudsters aim to exploit victims of investment scams by capitalizing on their wish for refunds.
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Is trading in Quotex a scam?

Siddhartha Shankar
Romania
2025-01-06
ANSWER Dear Investor, We strongly advise you to avoid Quotex at all costs. This platform has been proven to be a scam, involving various websites and flagged by many financial watchdogs. BrokersView sees a daily increase in complaints from victims of Quotex. Do not trust any promises of lucrative profits from Quotex, as they are merely tactics to lure investors into depositing more money. Many victims have reported difficulties in withdrawing their funds. Quotex is a facade used by operators to defraud investors, and negative reviews about it are widespread on the internet. Therefore, it is strongly advised to steer clear of Quotex to protect yourself from potential fraud.
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104 comments

adrian jose
No tengo problemas para retirar mi dinero de quotex el problema es que es un broker muy volátil y para mí hacen mucha trampa esa es mi opinión
2025-04-07
Reply
Khairebrdz
Easy to use platform with free tools Great platform
2025-03-28
Reply
Sakim Baloch
Money how
2025-03-24
Reply
Sk pandey
IAt 13th March 2025 time 11.41 gmt I deposit money from my wallet to QUOTEX account.after that I made the profit and when again I make withdrawal request quotex closed my account saying that my account has been closed due to violation of clauses 2.5.1of the rules of trading operations and clauses 7.12.10 and 12.7 of the service agreement. I had the proof that I don't use automated software or automated bot.please restore my account and my funds get back becuase I had not violated any rules and never use any automated bot. I trade with my experience and I had all the proof of it .with there is 100000$ in my quotex account I had all the screenshot of profit and I made the video proof of it .quotex is biggest scam
2025-03-23
Reply
Brokersview Official
Dear, about your problems encountered in this broker, you can submit a complaint with your proofs, Please click the link to submit：https://www.brokersview.com/complaint service@brokersview.com
2025-03-25
Reply
Sk pandey
Quotex is biggest scam. I made the decent profit then while withdrawal they closed my account saying I use automated bot but I never use such bot and I had all the proof of it.
2025-03-23
Reply
سمیرا بی بی
Quotex is a prominent binary options broker recognized for its user-friendly proprietary platform, which facilitates trading in currencies, commodities, cryptocurrencies, and indices. With no trading fees and a minimum deposit requirement of only $10, it is accessible to traders with varying budget levels. Despite its strengths, Quotex lacks regulatory oversight, which may be a concern for those seeking a broker with stringent regulatory compliance. Furthermore, leveraged trading and stock options are not available, potentially restricting advanced traders seeking a broader portfolio.Quotex is well-suited for novice and cost-conscious traders who desire a simple entry into binary options, supported by a robust range of multilingual client support. However, it may not be suitable for traders who prioritize regulated environments or require extensive analytical tools beyond the 29 indicators provided. Its educational resources are limited to fundamental concepts, which could deter those seeking a comprehensive learning experience.
2025-03-13
1
Reply
سمیرا بی بی
Quotex is good am using it for a long time
2025-03-12
1
Reply
Dennis Mwiti
im dennis from kenya .. quotex blocked my account for no reason, they collaborated with a blackmailer from India and blocked my account. i sent all the documents they demanded as prof that the account was mine and till to date i have not received my money. my account was blocked on 24th January 2025
2025-03-12
1
Reply
Brokersview Official
Dear, about your problems encountered in this broker, you can submit a complaint with your proofs, Please click the link to submit：https://www.brokersview.com/complaint service@brokersview.com
2025-03-13
Reply
shivam pratap
Good app . Timely withdrawal i recommend everyone to come and try once . I really like the platform
2025-03-03
Reply
Didarul Islam
Fake live account in balance limit 1312.90 $
2025-01-26
Reply

1-10 of 104 comments

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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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