Quotex Bot: Qx Broker Says Don’t Trade With Robots

Because trading is very hard and sometimes it brings so much loss, traders are always on the lookout for ways to optimize their strategies and maximize their profits.

One of the latest trends that has gained significant attention is the use of trading robots, such as the Quotex Bot, to automate binary options trading processes.

These bots promise to take the guesswork out of trading, executing trades with lightning speed and supposedly higher accuracy. But before you jump on the bot bandwagon, it’s essential to carefully consider the implications and potential drawbacks of using bots to trade.

In this blog post, we will explore the concept of trading robots, highlight some advantages they offer, and dive into why the Quotex Bot might not be the best choice for your trading journey. Especially if you want to make money trading in Quotex in the long run.

Before we discuss how the robot works, let us take a few minutes to understand what trading robots are.

Understanding Trading Robots

Trading robots, often referred to as bots, are computer programs designed to execute trades on behalf of traders.

They operate based on pre-defined algorithms, analyzing market trends, technical indicators, and other data to make trading decisions.

The allure of these bots lies in their ability to operate without human intervention, 24/7, and execute trades at lightning speed.

For binary options traders, this could potentially mean increased efficiency and reduced emotional involvement.

But before we write bot trading in Quotex completely off, let us confirm if the advantages of using Qubot outweigh the disadvantages.

Advantages of Using Trading Robots for Binary Options Trading in Qx Broker.

1. Automation and Efficiency: Bots can monitor markets and execute trades much faster than human traders, potentially capitalizing on fleeting opportunities.
2. Elimination of Emotional Factors: Bots trade based on programmed rules, eliminating emotional biases and impulsive decisions that can negatively impact human traders.
3. 24/7 Trading: Bots can work around the clock, enabling traders to capture opportunities in different time zones.

And there are many other advantages of using trading robots to execute trades. Except, Quotex thinks otherwise about traders using robots to trade. And for a good reason.

So, what is Quotex’s policy on using robots to trade in their system?

Quotex’s Policy on Bot Trading

While the Quotex trading platform has not in itself ventured into the world of trading bots, it has allowed bot use in Quotex to be a thing as a result of vague policies about if to use a bot to trade or not.

This has given leeway to fans of Quotex who also double up as affiliates to devise more ways of attracting traders.

And what better way to attract new traders than to provide a tool that anyone can use to “make money” regardless of their trading experience?

While this may seem like an attractive offering, and vague as the Quotex policy on this subject might be, it is my understanding that you will be responsible for losses generated from using a robot to trade.

In short, Quotex guarantees you that a robot will work on its systems. And maybe, or not, they are aware that there are traders using bots to trade but they do not fully endorse or guarantee the performance of any specific bot, including the Quotex Bot (made by Quotex fans).

Traders are responsible for researching, selecting, and using trading bots at their own discretion and risk. And if used wrongly, can lead to account closure.

Why I Do Not Use the Quotex Bot, and Why You Should Avoid It Too

1). Lack of Transparency

Since these robots are made by affiliates on the Quotex platform, who by the way make money when you lose, I somewhat feel like they may tweak the bot in their favor.

Moreover, the inner workings of the Quotex Bot’s algorithm are not fully disclosed, raising questions about the accuracy and fairness of its trading decisions.

You are however more than welcome to trade with the robot if you are not worried about losing money trading.

2). Risk of Over-Reliance on Quotex Robots

Relying solely on a trading bot can lead to complacency and a lack of active involvement in understanding market dynamics.

This puts you in an even tighter spot because you can lose so much money and not understand how it happened.

To avoid this, and if you must use a robot while trading, give the robot a limited trading period and trade for the rest of the time.

You will be surprised at how much you learn when you trade on your own.

3). Market Volatility

Bots may struggle to adapt to sudden and extreme market fluctuations, potentially leading to losses.

This is because the builders of most trading bots only rely on technical analysis to come up with strategies. And in case you are still green on this subject, most indicators and oscillators lag giving signals when it is too late to enter a trade.

Believe it or not, any entry that’s late with even 1 second in binary options trading can lead to a serious loss.

4). Limited Learning Opportunities

Have I already mentioned that trading is an evolving skill?

Well, that statement is true, and using bots to trade may hinder your opportunity to learn and develop as a trader.

Whatever you do with this information is entirely your business.

Where to find trading bots for Quotex.

If you still want to try trading robots despite what you have read, here’s where to find trading bots for Quotex.

a). Quotex Bot APK

An APK refers to an Android Package (sometimes Android Package Kit or Android Application Package).

At Quotex Bot, the APK provides traders with the convenience of downloading a dedicated mobile app, tailor-made for trading on the Quotex platform.

By downloading and installing the APK, traders can have direct access to the Quotex Bot’s capabilities on their smartphones.

However, most bots will not allow you to use existing accounts to trade. Be cautious when they ask you to create a new account as this only shows that the bot belongs to an affiliate on the Quotex platform and they will make money when you lose.

2. Quotex Bot Extension

For traders who prefer trading from their web browsers, the Quotex Bot extension is an ideal option.

This browser extension integrates directly with popular browsers, providing quick and easy access to the Quotex Bot’s features.

3. Bot Apps for Mobile

In addition to the Quotex Bot APK, traders can explore third-party bot apps designed for mobile devices.

These apps often provide a range of trading bot options, including integration with Quotex for existing accounts.

Users can choose from a variety of bot strategies, customize settings, and monitor trading activities, all from the convenience of their mobile devices.

4. Quotex Bot Telegram Channels

If none of the other three methods of getting a bot for Quotex interest you, you can seek to find other bots in Telegram.

Just go to Telegram and search for Telegram channels that offer insights, discussions, and even direct access to the bot.

Tred with caution though because as much as these channels may provide links, guides, and support for setting up and utilizing the Quotex Bot effectively, they may also end up being scams.

Conclusion

Bot or not, you must only trade with money you can afford to lose.