Quotex Singapore Review
Pros (What we like)
- Extremely high payouts on major currency pairs (up to 98%)
- Zero commission on deposits and withdrawals
- Excellent trading signals and market indicators on-chart
- Cryptocurrency deposits (USDT, BTC) clear within minutes
Cons (Drawbacks)
- No iOS application is currently available (Web only for Apple)
- Unregulated by tier-1 commissions
Singapore Trader Verdict & Executive Summary
Quotex accepts retail client registrations from Singapore through its offshore corporate operating structures (ON SPOT LLC / Maxbit LLC). However, the platform is not licensed or regulated by the Monetary Authority of Singapore (MAS) and does not hold a Capital Markets Services (CMS) licence. A direct search of the MAS Investor Alert List (IAL) in October 2026 confirms that Quotex is not currently listed; nevertheless, the firm operates entirely outside Singapore statutory oversight. Quotex specializes in short-term digital binary options contracts across more than 400 assets with advertised payouts reaching up to 98% on major pairs. Singapore retail users face critical banking restrictions: direct domestic clearing via FAST or PayNow is unsupported, and local card authorizations are routinely blocked by domestic banks (DBS, OCBC, UOB). As a result, cryptocurrency transfers (specifically USDT on the TRC-20 network) represent the primary functional payment channel for both deposits and withdrawals.
Quotex: Singapore Quick Fact Table
| Accepts Singapore Traders | Yes (Registered under offshore entity ON SPOT LLC) |
| MAS Regulated | No (Does not hold an MAS CMS licence) |
| MAS Investor Alert List (IAL) | Not Listed (Audited Oct 2026; operates offshore without MAS oversight) |
| Operating Corporate Entity | ON SPOT LLC (Registration No. 262 LLC 2020, St. Vincent & the Grenadines) / Maxbit LLC |
| Offshore Regulatory Registration | MISA Brokerage Licence (T2023322) / IFMRRC Dispute Registry |
| Minimum Deposit | $10 (approx. S$13.50) |
| Minimum Trade Size | $1 |
| Maximum Payout Yield | Up to 98% (Uniform across all accounts; no tiered deposit gating) |
| Trading Platforms | Proprietary Web Platform, Android App (Google Play & APK); iOS Web PWA |
| Singapore Payment Methods | Cryptocurrencies (USDT TRC-20, BTC, ETH), Neteller, Skrill; Cards (frequent declines) |
| Domestic Banking Clearing (FAST/PayNow) | Not Supported (No domestic Singapore bank accounts) |
Open Quotex Fast Sign-Up Gateway
Direct accelerated registration portal. Includes $10,000 replenishable virtual practice funds.
Does Quotex Accept Singapore Traders?
Yes, Quotex accepts account registrations from Singapore residents. Singapore users navigating to the Quotex website or using its mobile software can establish an account using an email address and password. The platform automatically assigns Singapore registrations to its international offshore corporate framework.
Singapore account holders enter into a commercial customer relationship with ON SPOT LLC, incorporated in Saint Vincent and the Grenadines. Important operational parameters for Singapore traders include:
- Account Base Currencies: Quotex supports accounts in USD, EUR, and GBP. Singapore Dollar (SGD) balances are converted upon deposit at prevailing exchange rates.
- No Singapore Physical Establishment: Quotex has no corporate entity, physical office, or authorized agents within the Republic of Singapore. All technical operations, customer support, and dispute administration occur overseas.
- Absence of Local Retail Ringfencing: Funds deposited by Singapore residents are not held in MAS-mandated client segregated trust accounts with Singapore domestic commercial banks.
Is Quotex Legal in Singapore?
Determining the legality of Quotex in Singapore involves two distinct legal dimensions: the position of the individual retail investor and the regulatory standing of the platform operator.
For individual retail citizens and residents of Singapore, trading on Quotex is not illegal under domestic criminal law. Singapore financial statutes do not make it a criminal offence for an individual to deposit funds with an overseas trading firm or execute speculative derivative transactions.
However, from the perspective of the platform operator under Singapore law:
- Securities and Futures Act (SFA, Cap. 289, Section 82): Conducting business in regulated financial activities—specifically including dealing in capital markets products or over-the-counter derivative contracts—mandates a Capital Markets Services (CMS) licence granted by MAS.
- Prohibition on Unlicensed Solicitation: Offshore brokers lacking an MAS CMS licence are prohibited from marketing, advertising, or soliciting financial services toward Singapore residents.
- Unlicensed Offshore Counterparty: Quotex does not hold an MAS licence. Consequently, under Singapore financial legislation, it functions as an unlicensed foreign financial services provider.
Read our full legal analysis of Singapore derivative regulations in our comprehensive review on Binary Options Legality in Singapore.
Is Quotex Regulated by MAS?
No. Quotex is not regulated, licensed, or supervised by the Monetary Authority of Singapore (MAS).
An independent verification of the official MAS Financial Institutions Directory (FID) demonstrates zero records for Quotex, ON SPOT LLC, or Maxbit LLC. The firm holds neither a Capital Markets Services (CMS) licence nor Recognised Market Operator (RMO) authorization.
In addition, our October 2026 verification confirmed that Quotex is not listed on the MAS Investor Alert List (IAL). While non-inclusion indicates that MAS has not published an explicit public alert against the brand, it does not imply regulatory authorization or financial safety.
| Regulatory & Consumer Dimension | MAS-Licensed Broker (e.g. IG, OANDA) | Quotex (Offshore) |
|---|---|---|
| MAS CMS Licence | Yes (Verified on FID) | No (Unlicensed offshore) |
| Segregated Client Accounts | Mandatory in Singapore Tier-1 Bank | Offshore omnibus accounts (Unverified) |
| Dispute Resolution Access | FIDReC (Singapore statutory body) | Zero Access (Offshore dispute body only) |
| Statutory Retail Leverage Caps | 20:1 max (MAS Notice SFA 04-N16) | All-or-nothing fixed payout contracts |
| MAS Investor Alert List Status | Clear (Not listed) | Not Listed (Audited Oct 2026; offshore) |
To identify warning signs when evaluating offshore derivative providers, read our guide on Avoiding Binary Options Scams in Singapore.
Quotex Singapore Deposit Methods
Deposit logistics represent a key practical consideration for Singapore traders using Quotex. Because Quotex does not maintain local banking accounts in Singapore, direct domestic clearing through FAST or PayNow is not available.
Singapore account holders utilize the following funding channels:
- Cryptocurrency (USDT TRC-20, BTC, ETH): Transferring USD Tether over the Tron network (TRC-20) is the most widely utilized and reliable funding mechanism. Crypto transfers bypass domestic credit card merchant filters, clear in roughly 5 to 15 minutes, and incur minimal network transfer fees.
- Electronic Wallets (Neteller, Skrill): Digital e-wallets are fully supported. Users can fund an e-wallet balance and transfer capital to Quotex with immediate credit.
- Credit & Debit Cards (Visa, Mastercard): While available in the payment menu, card transactions originating from Singapore commercial banks (DBS, OCBC, UOB) are frequently declined due to automated risk rules targeting offshore gambling and unlicensed financial merchant category codes (MCC 6211/7995).
Funding Recommendation: For Singapore-based accounts, funding via USDT (TRC-20) eliminates domestic card authorization declines and provides the fastest turnaround for subsequent withdrawal processing.
Quotex Withdrawals for Singapore Traders
Quotex processes withdrawal requests according to published anti-money laundering (AML) protocols and payment route symmetry:
- Payment Route Symmetry: Funds must be withdrawn back through the identical channel and destination address used for depositing, up to the total deposited amount.
- Withdrawal Processing Speed: Published company policies state that withdrawal requests are reviewed and processed within 1 to 3 business days. In practice, verified cryptocurrency withdrawals typically clear within 2 to 4 hours of approval.
- Zero Broker Withdrawal Fees: Quotex does not charge internal withdrawal commissions. However, third-party blockchain network gas fees (for crypto payouts) or intermediary correspondent bank deductions (for SWIFT wires) apply.
- Minimum Withdrawal Threshold: The minimum withdrawal amount is $10 for most payment methods and $50 for certain cryptocurrency networks (such as Bitcoin or Ethereum ERC-20).
Quotex Trading Platform and Mobile App
Quotex operates a clean, modern HTML5 proprietary web trading terminal. The interface is optimized for rapid order placement and intuitive charting without requiring local software installations:
- Integrated Technical Charting: Supports candlestick, area, and bar charts with customizable intervals ranging from 5 seconds to daily timeframes. Features dozens of integrated technical indicators including MACD, RSI, Bollinger Bands, Stochastic, and custom moving averages.
- Android Application: Quotex provides a native Android app downloadable via Google Play and direct APK installation from the official site.
- iOS Web Progressive Application: Quotex does not have a native iOS app in the Apple App Store. iPhone and iPad users trade via an optimized mobile browser web app that delivers full feature parity.
- Trading Signals Panel: The terminal includes an automated signals widget displaying algorithmic momentum alerts across select instruments. Traders should treat these as non-binding technical indicators rather than verified financial advice.
Quotex Demo Account for Singapore Traders
Quotex provides a free, instant demo account that allows Singapore traders to test the platform under zero financial risk:
- $10,000 Virtual Capital: Upon registration, users receive $10,000 in simulated practice funds.
- Instant One-Click Balance Refill: If your virtual balance drops, you can reset it back to $10,000 instantly with a single click in the account dashboard.
- Full Functional Parity: The practice terminal executes against the same live market price feeds, indicator overlays, and expiration times as the real-money terminal.
- Zero Initial Deposit: You do not need to provide credit card information or fund an account to access the practice environment.
Learn how to test trading setups systematically in our guide to Binary Options Demo Trading in Singapore.
Quotex Payout Percentages and Yield Mechanics
One distinctive feature of Quotex is its uniform payout structure. Unlike competitors like Olymp Trade or Expert Option that restrict maximum payout rates behind higher deposit tiers, Quotex provides identical yield percentages to all account holders regardless of balance size.
- Maximum Advertised Payouts: Reaches up to 98% on major currency pairs (such as EUR/USD and GBP/USD) during peak liquidity sessions (the European and US market overlap).
- Session Liquidity Variations: During off-peak periods, such as late Asian trading hours, payouts on secondary pairs frequently compress to 70%–80%.
- All-or-Nothing Risk Structure: If a trade expires in the forecasted direction by even 0.1 pip, the trader receives their stake back plus the payout yield. If the price settles against the forecast, 100% of the invested stake is lost.
Understanding Mathematical Break-Even on Quotex
The required win rate to break even on binary contracts is determined by the payout percentage:
When payouts drop to 70% during illiquid sessions, maintaining a 58.82% accuracy rate over fast 60-second contracts is mathematically improbable due to market microstructure noise.
Dealing Desk Counterparty Model: Quotex operates under a B-Book dealing desk model where trades are not routed to external interbank liquidity. The platform acts as the direct financial counterparty, retaining lost stakes as gross corporate revenue.
Quotex Verification and KYC for Singapore Users
Although Quotex permits trading on unverified accounts up to certain activity limits, complete Know Your Customer (KYC) verification is mandatory before requesting larger withdrawals or changing payment channels.
- Proof of Identity (POI): Clear photograph or color scan of a valid Singapore NRIC or Passport.
- Proof of Address (POA): A Singapore utility bill, landline/mobile phone statement, or bank statement dated within the preceding 3 months confirming your legal name and residential address.
- Payment Method Confirmation: Proof of ownership for the deposit channel (e.g. masked photo of bank card or screenshot of e-wallet account).
- Verification Turnaround: Typically reviewed within 24 to 48 business hours. We recommend completing verification before placing trades to prevent unexpected withdrawal holds.
Quotex Fee Structure
A transparent summary of fees and operational charges on Quotex:
| Fee Category | Rate | Terms & Operational Details |
|---|---|---|
| Account Opening & Maintenance | $0 (Free) | Zero recurring charges for maintaining an active account |
| Deposit Fee | 0% | Quotex assesses no deposit commissions; network gas fees apply for crypto |
| Withdrawal Fee | 0% (Broker side) | Zero internal commissions; standard blockchain fees apply on crypto payouts |
| Inactivity Fee | $0 | Quotex does not charge recurring dormancy fees for inactive accounts |
| Trading Commission | 0% | No per-trade commissions; costs are incorporated into the payout structure |
What Singapore Traders Should Check Before Opening an Account
Before funding an account with Quotex, Singapore residents should review this essential eight-point risk checklist:
1. Absence of MAS Regulation
Quotex holds no CMS licence from the MAS. You are trading with an offshore entity in SVG without statutory Singapore supervision.
2. Zero FIDReC Dispute Recourse
Singapore's Financial Industry Disputes Resolution Centre (FIDReC) has zero legal authority over Quotex in contractual or withdrawal disputes.
3. No Domestic FAST / PayNow Integration
Direct clearing through Singapore commercial banks is unavailable. Transactions require cryptocurrency wallets or third-party e-wallets.
4. Negative Mathematical Expectancy
Binary options carry a built-in mathematical house edge. Even with high advertised payouts, you need sustained win rates above 54% to avoid capital depletion.
5. Mandatory Pre-Trading KYC Verification
Always complete your identity and address verification before depositing. Unverified accounts risk compliance freezes when withdrawing funds.
6. Domestic Bank Card Authorization Rejections
Local retail banks (DBS, OCBC, UOB) frequently block direct card charges to offshore binary platforms. Using USDT (TRC-20) avoids payment friction.
7. Dealing Desk Counterparty Exposure
Quotex functions as the direct counterparty to every trade. Orders are not routed to external exchanges; the platform profits when traders lose.
8. Strict Speculative Capital Allocation
Deposit only capital that you can afford to lose entirely. Never allocate savings or emergency funds to short-term binary derivative contracts.
Frequently Asked Questions (FAQ)
Is Quotex legal in Singapore?
Trading on Quotex is not illegal for individual retail investors in Singapore under domestic criminal law. Singapore citizens and residents are not prohibited from opening accounts or depositing private funds with overseas trading platforms. However, Quotex operates via offshore corporate entities and does not hold a Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS). Under Section 82 of the Securities and Futures Act (SFA), offering or soliciting capital markets activities in Singapore without a licence is prohibited for the operator.
Is Quotex regulated by the Monetary Authority of Singapore (MAS)?
No. Quotex is not licensed, regulated, or supervised by the MAS. A direct search of the MAS Financial Institutions Directory (FID) confirms that neither Quotex nor its operating entities (ON SPOT LLC / Maxbit LLC) hold a CMS licence or Recognised Market Operator (RMO) status in Singapore.
Is Quotex on the MAS Investor Alert List (IAL)?
As of our regulatory audit in October 2026, Quotex is not listed on the MAS Investor Alert List. However, omission from the Investor Alert List does not constitute MAS approval or safety; Quotex operates entirely as an unregulated offshore counterparty outside Singapore domestic regulatory jurisdiction.
What is the minimum deposit for Quotex in Singapore?
The minimum deposit on Quotex is $10 (approximately S$13.50 depending on USD/SGD exchange rates). The minimum investment size is $1 per contract, allowing retail traders to test platform execution with minimal financial outlay.
How do Singapore traders withdraw money from Quotex?
Singapore traders primarily withdraw funds via cryptocurrency (USDT TRC-20, Bitcoin, Ethereum) and international electronic wallets (such as Neteller or Skrill). Under published company policies, crypto withdrawals are typically processed within 2 to 4 hours without broker-side transaction fees. Direct SGD FAST bank transfers and PayNow are not supported.
What are the payout percentages on Quotex?
Quotex offers advertised payout yields up to 98% on major currency pairs (such as EUR/USD and GBP/USD) during periods of high market liquidity, particularly during the London and New York session overlaps. Unlike tiered brokers, Quotex does not restrict higher payout yields behind large deposit tiers; standard accounts receive identical yield schedules.
Is there an iOS app for Quotex in Singapore?
Quotex does not offer a native iOS application in the Apple App Store. iPhone and iPad users access the platform through an optimized web progressive application via Safari or Chrome. For Android users, a dedicated APK and Google Play app are available.
Does Quotex provide a free demo account for Singapore traders?
Yes. Quotex offers an instant demo account loaded with $10,000 in virtual funds. The demo account requires no credit card registration, has no expiration time limit, and can be replenished back to $10,000 at any time directly through the trading dashboard.
Test Quotex Risk-Free with $10,000 Virtual Funds
Experience Quotex's proprietary trading platform and test binary strategies on real-time market data without financial risk.
High-Risk Alert (YMYL Compliance)
Binary options trading is highly speculative and carries a substantial risk of loss. The Monetary Authority of Singapore (MAS) has issued multiple consumer advisories warning that retail investors dealing with unregulated offshore binary options platforms risk losing their entire investment. No statutory protection or FIDReC dispute resolution applies to offshore accounts.
Editorial Transparency & Research Standards
Our editorial team evaluates platforms through independent desk research, regulatory register audits (including MAS, FCA, ASIC, and CySEC databases), and verified fee schedule analysis. Editorial ratings are determined using our structured 7-dimension scoring framework. We refuse compensation in exchange for positive reviews or altered ratings. Review our Review Methodology and Editorial Guidelines.
Written by PeterRESEARCH EDITOR
Retail Trader & Research Editor
Market participant focused on retail forex, commodities, and derivatives since 2012. Peter conducts independent desk research, regulatory audits, and fee schedule verification to provide transparent, risk-focused analysis for Singapore traders.