Quotex Review Singapore
Quotex Singapore – Introduction
Quotex is one of the best binary options brokers accepting traders worldwide. It started providing online trading service in 2019 and has become a leading brand in the financial markets. Quotex is a legitimate trading platform. Maxbit LLC manages it with its registered address as First Floor, First St Vincent Bank LTD Building, James Street, Kingstown, St. Vincent and Grenadines. Hence Quotex Singapore is a trustworthy online trading platform.
It accepts traders exactly from all over the world, excluding a few countries, which can be found on the Quotex website. Quotex accepts traders from Singapore to trade multiple assets on Binary Options like Currencies, Cryptocurrencies, Commodities, and Indices. Quotex trading platform is legal in Singapore. So, read this Quotex Review and start trading with this online platform.
The traders can claim a first-time deposit bonus of 30% when they deposit after registering an account. The Bonus amount can be used for trading.
Get a 30% Bonus Deposit from Quotex when you deposit for the first time.
Quotex broker review
Quotex is one of the best Binary Options brokers in Singapore. It has an award-winning trading platform that works well on both computers and mobile devices. The traders can take advantage of trading on the go and never miss a trading opportunity. Presently Quotex has mobile trading app only for Android users. However, you may see Apps for other OS and iOS devices.
Quotex trading app is full of advanced features that help the trader to make the correct trading decision and enhance the success rate. There are over 30 built-in indicators and analysis tools for use while trading. The traders can use a combination of indicators to find the best trade entry and save the combination of indicators as a template for later use.
The traders can try all the platform features without risk by opening a Free Demo Account. The Demo Account comes with all the features of a real account, with the only difference being that it operates with virtual money. Hence you can practice without the fear of losing your real money. When you become confident and learn well how to trade, you can deposit and start trading with real money to make real profits. The traders can switch from Demo Mode to Real Mode just by clicking a button at the top right corner.
It is safe and legal to trade binary options in Singapore with Quotex online broker. The traders must learn and practice different strategies well and find out the best trading strategy that can help them make a profit consistently.
- Year Founded: 2020
- Minimum Deposit: $10
- Minimum Trade: $1
- Payouts: 95% Max
- Free Demo Account: Yes
Trading Platform Quotex
Singapore clients can come to the web-based platform and open an account on the quotex.io website. Once account registration is done, clients need to choose an asset, select an expiration time. Then, input the investment amount, which means choosing how much capital you want to put behind your market position. After that client should click on the ‘Up’ or ‘Down option.
After choosing an asset, it will show its live price chart. Traders can view data in different graphs in timeframes from five seconds to a day. The Quotex platform has 9 indicators. In addition, 10+ drawing tools are also available to help inform projections. Traders also can hide the indicator name or additional details without losing their mark-up on the charts.
Traders can use copy trading and duplicate the strategies of successful traders in one click. In addition, traders will favor the high levels of customization offered. For example, traders can set their username, upload a profile photo, and change the charts’ background image. Fortunately, the switch time and investment type can also be tweaked in a few clicks. After that, the Quotex broker has introduced a quick detailed view of trades.
Expert Option Demo Account
Pocket Option – Free Demo
Expert Option Demo
Quotex Mobile Apps Review
The mobile trading platform is one of the most liked features of any online trading platform. It helps traders to manage their open trades and place new trades whenever and wherever they want. Quotex has an excellent Mobile Trading platform available to their traders for free. The mobile trading app is now available only for Android and may soon be available for iOS smartphones.
In addition, the Quotex mobile app also provides you access to a demo account too. A demo account is like a real trading account but without involving any real money. It helps traders to learn and practice while on the go. The demo account has a virtual $ 10,000 demo balance, which will help you improve your trading skills.
The traders can directly deposit funds from the mobile trading app and request fund withdrawal too. Make use of all the trading opportunities and trade while traveling or when away from home or the office.
How to trade with Quotex in Singapore?
The Singaporean people can easily trade on the Quotex platform. The registration process is simple, and account verification requires a copy of ID and Address proof. After completing the account verification process, the account is fully ready. The traders can deposit funds, trade, and withdraw profits whenever they want.
The traders get up to 85% profit for a successful trade. The trade expiration time is at least 1 minute to up to 4 hours. Several deposit methods are available, including card payment, bank transfer, e-wallet deposits, and cryptocurrency deposits. The minimum deposit required to start trading is $10, and the minimum investment per trade is just $1. The traders should practice money management and risk management in a demo account before investing and trading in a real account.
Steps involved in trading –
1. Select an asset to trade, 2. Set the expiry time and fill in the investment amount, 3. Forecast the price direction based on your analysis, 4. You get up to 95% return on your investment if your forecast is correct.
Trading account types:
There are only two types of accounts with Quotex. They are trading a Demo Account and Real Account. The accounts are available in Singapore Dollars, Euros, US dollars, Ukrainian and Brazilian reals. The traders from Singapore may choose a USD account or a Singapore Dollars account.
The Demo Account offers unlimited practice to traders for learning and trying out different strategies before applying them in a real account. The Standard Accoun t involves real money and you make a real loss of profit on your investment.
Trading Assets Available
Quotex offers a wide range of assets for trading on its platform. They are –
Forex Pairs – EURUSD, GBPUSD, EURGBP, etc.
Cryptocurrencies – Litecoin, Ripple, Bitcoin, and Ethereum coins.
Indices – 15 leading exchanges.
Commodities – Silver, oil, gold, and other popular energies and metals.
Quotex Demo Account
Quotex Broker offers a risk-free demo account with 10000$ virtual assets and is free of cost to the traders. You don’t have to submit any financial information to start trading in a demo account. Now, you can top up the Demo Account for free anytime, anywhere globally, including Singapore.
Quotex Standard Account
This is the regular trading account Quotex offers. The traders can start trading in the financial market with a minimal deposit of at least $10. Afterward, traders can deposit money using a bank card, electronic payment system, cryptocurrency, VISA, Bank Transfer, Skrill, Credit Cards, Neteller, and many other options. Unlike the Demo Account, the Standard Account involves real money and real profit and loss of money.
You may make a profit of up to 95% for a successful trade, or you may lose your investment amount.
Quotex Review – Security and safety
Quotex trading platform is a secure and safe trading platform that provides its users with various safety and security features to ensure a secure trading experience. Here are some of the key safety and security features of Quotex trading platform:
1. SSL Encryption: Quotex trading platform uses SSL encryption to protect user data and information from potential hackers. This encryption ensures that all data transferred between the user and the platform is secure and cannot be intercepted by unauthorized users.
2. Two-Factor Authentication (2FA): Quotex trading platform provides users with the option of enabling two-factor authentication, which adds an extra layer of security to their accounts. This feature requires users to enter a unique code generated by an authentication app to access their accounts.
3. Segregated Accounts: Quotex trading platform keeps user funds in segregated accounts, which means that user funds are kept separate from the company’s operating funds. This feature ensures that user funds are protected in the event of bankruptcy or insolvency.
4. Anti-Money Laundering (AML) Compliance: Quotex trading platform is compliant with AML regulations and conducts thorough identity verification checks on users to prevent money laundering and other illegal activities.
5. Customer Support: Quotex trading platform has a dedicated customer support team that is available 24/7 to assist users with any issues or concerns they may have.
Overall, Quotex trading platform prioritizes the safety and security of its users and provides them with various safety and security features to ensure a secure trading experience.
Quotex Deposit Methods in Singapore
There are local Withdrawal and deposit methods available in certain countries. For example, local payment features are presently available in Singapore, Thailand, Vietnam, India, Singapore, China, etc. Contact the support team if you face any problems while depositing. They were going to come up with an answer or solution for you.
Quotex provides multiple ways to deposit funds safely while trading from Singapore. You can easily use local payment methods and local money wallet services in Singapore. You can deposit funds using Credit Cards, Wire Transfers, Skrill, Debit Cards, and Netteller. Traders must verify their accounts by submitting their identity documents before requesting their Withdrawal.
Singapore traders can deposit to their accounts using their local bank deposits system.
High Payout
Quotex platform is one of the best binary options platforms, offering the best payouts in the industry for up to 95% of trades. Payout percentages vary in market liquidity. So traders can find the best and highest paying assets and invest in them.
Customer Support
Traders can communicate with us directly through the platform interface by submitting a ticket or using the live chat option. The Quotex support team swiftly acts on customer queries and provides the solution as soon as possible. Quotex also has a dedicated telegram channel for general help and guidance. The support services work professionally round the clock to help customers.
The support team has three divisions to make the support service better, they are Payment related, Registration related and Account Verification related. Choose the correct support tab for faster response and quick resolution.
Indicators
The platform includes advanced charting features for traders, which help make winning trading decisions. The users needn’t switch between windows to see trends and analyze the market. Instead, they can do it right away on the trading platform for executing the trade.
There are two sections in the chart selection area – Trend Indicators and Oscillators. There are over 30 indicators in total. Trend Indicators include Alligator, Bollinger Bands, Envelopes, Fractal, Ichimoku Cloud, Keltner channel, Donchian channel, Supertrend, Moving Average, Parabolic SAR, and Zig Zag indicator.
The Oscillator indicators in Quotex platform are ADX, Aroon, Awesome Oscillator, Bears power, Bulls power, CCI, DeMarker, ATR, MACD, Momentum, RSI Rate Of Change, Stochastic Oscillator, Schaff Trend Cycle, Vortex Volume Oscillator, Williams %R, and Weis Waves Volume Oscillator. The platform keeps adding more indicators from time to time. Traders can make use of these premium indicators while analyzing the market.
Is Quotex Legal In Singapore?
Quotex is a legitimate financial trading company with Binary Options and Digital Options trading services in various financial instruments such as stocks, currencies, and commodities. The legality of Quotex in Singapore depends on several factors, such as the regulations and laws governing financial trading in the country.
It is legal to trade with Quotex online trading platforms in Singapore. Quotex is managed by Maxbit LLC and has its registered address at First Floor, First St Vincent Bank LTD Building, James Street, Kingstown, St. Vincent and Grenadines. Quotex trading platform uses advanced safety and security features while carrying out financial transactions. Hence it is safe and legal to trade with Quotex in Singapore.
Quotex is a binary options trading platform that offers users the ability to trade on a variety of financial instruments, including stocks, indices, commodities, and currencies. The platform operates online, allowing traders to access it from anywhere in the world with an internet connection. In Singapore, the Monetary Authority of Singapore (MAS) is responsible for regulating financial markets and ensuring the protection of investors. The MAS has issued warnings about the risks associated with binary options trading, stating that it is a highly speculative and complex form of investment that is often associated with fraudulent activities. The MAS has also cautioned investors to exercise caution when dealing with unregulated platforms, as they may not be subject to the same level of oversight and protection as regulated platforms. This includes Quotex, which is not regulated by the MAS.
However, the fact that Quotex is not regulated by the MAS does not necessarily mean that it is illegal to use the platform in Singapore. In fact, there are no laws in Singapore that explicitly prohibit individuals from using unregulated binary options trading platforms.
That being said, it is important to note that using unregulated platforms like Quotex carries significant risks. These risks include the potential for fraud, as unregulated platforms may not be subject to the same level of scrutiny and oversight as regulated platforms. Additionally, unregulated platforms may not provide investors with the same level of protection as regulated platforms. For example, regulated platforms are required to maintain client funds in segregated accounts, which helps to protect investors in the event of insolvency or other financial difficulties.
Investors who choose to use unregulated platforms like Quotex should be aware of these risks and take steps to protect themselves. This includes conducting thorough research on the platform and its operators, as well as carefully evaluating the risks and potential rewards of binary options trading. In conclusion, while Quotex is not regulated by the MAS and carries significant risks, it is not explicitly illegal to use the platform in Singapore. However, investors should exercise caution and consider the potential risks before using unregulated binary options trading platforms like Quotex.
Regulations are frequently changing, so make sure that the current legislation in your country about online Trading before you invest.
How to verify Quotex Account?
Most traders/users feel confused about the account verification process. However, Quotex verification is a mandatory process every trader has to do it. Therefore, Singapore traders must complete the verification process before requesting any fund withdrawal from their accounts. Driving License, Passport, Voter ID, etcetera are acceptable documents for account verification purposes. The traders can withdraw profits into their accounts after completing the verification process.
Quotex Review – CONCLUSION
Without any queries, Quotex is one of the best brokers in Singapore and worldwide. With a minimal $10 deposit, you can trade here and explore the potentially profitable marketplace. It allows you to trade a mess of assets through digital options confidently. Quotex gives a modern trading platform to traders. It also provides all kinds of traders access to quite 400 different assets. So don’t hesitate to open a demo account on Quotex.io to try it and see why this broker deserves its recognition with the industry leaders. We have reviewed several reviews and feedback about this broker and could not find anything against it or its trading platform.
However, traders must know that trading involves the risk of losing money. Hence never invest the money you can’t afford to lose.