Alert on Quotex's Continued Fraud: Missing Deposits and Denied Withdrawals

BrokersView previously issued an alert regarding deposit and withdrawal issues associated with the forex broker Quotex, as reported in flooding client complaints in several consecutive months. This piece exposes Quotex’s ongoing fraudulent activities and urges extreme caution, as new victims have fallen prey to the broker’s schemes.

Recently, a Quotex client from India alleged that his deposit of 5,180 rupees was not added to his trading account on the Quotex platform. He attempted to seek assistance from customer support but did not receive any reply.

In a previously exposed case, a client’s deposit of 3,000 rupees was also not credited to his trading account, with Quotex claiming they never received the funds. Despite providing a bank statement and additional proof from his bank as requested by Quotex, the client was unable to recover his money.

Another client, also from India, reported experiencing prolonged delays and receiving unhelpful responses from Quotex regarding his withdrawal request. Despite submitting all required documentation, including a bank statement, his funds remained uncredited to his bank account after 49 days. Adding to his frustration, Quotex repeatedly attributed the delay to their "financial operator" without providing any details.

Quotex has been criticized and accused of fraud for unprocessed or failed withdrawal requests, unreceived payments, and refusals to process withdrawals, which are often accompanied by various excuses.

A trader reported that his attempts to withdraw profits from Quotex were denied. Although Quotex claimed the payment was processed and blamed the issue on the trader's bank, they refused to provide Proof of Payment. Similarly, another trader reported not receiving his funds despite the transaction showing the status of completed, and he received no response from Quotex regarding the issue.

Recent client reviews also revealed that Quotex trading accounts were blocked or suspended for no reason, leaving affected traders unable to obtain their refunds.

Quotex has long been notorious for regulatory warnings and alleged fraud operations. The broker frequently changes its domains and corporation information but has never obtained proper authorization to operate as a legitimate forex trading platform. Despite cultivating an image of credibility and trustworthiness through an active social media presence, ongoing client complaints continue to highlight the broker's unethical practices.

BrokersView has issued multiple warnings to expose Quotex’s fraudulent conduct, aiming to prevent more individuals from falling victim to the scam.