Trading in Quotex can be a great way to earn some extra income, but it can also be a risky venture if you are totally green about trading financial instruments. If you’re new to Quotex trading, this article will give you a brief introduction to the basics so that you can get started to start making money online as a newbie trader.
What is Quotex?
Quotex is an online trading platform that allows users to trade a variety of financial instruments. Quotex is a popular choice for beginners because it is user-friendly and offers a wide range of features.
Unlike other brokers that only allow you to earn up to 92% profits for successful trades, Quotex allows you to earn up to 98% rate of return.
This means that if you invest $100 in a trade with a ROR of 98%, you will earn $98 profits if your forecast ends up being successful.
Is Quotex a Legit or a Scam Broker?
Quotex is a new online broker that has been gaining popularity among traders across all social media platforms. Youtube Included.
There are many reasons why traders are attracted to this broker, but the main ones are its low deposit amount which stands at $10, its fast deposit and withdrawals, more than enough trading tools, and its user-friendly platform.
However, as with any new broker, there are also some concerns about whether or not Quotex is a legitimate company.
The biggest concern about Quotex is that it is not regulated by any major financial regulator. This means that there it may not be allowed to operate in some countries including the USA, Canada, Hong Kong, EEA countries, and Russia among other countries that are strict on binary options trading.
While Quotex does seem to be a legitimate company so far, it does need to get regulated by at least one major financial regulator to increase trader confidence.
Another concern about Quotex is that it only offers so many financial instruments to be tested on the DEMO account.
This means that new traders will have to risk real money to access all financial instruments.
This could make it difficult for new traders to test all features of the trading platform before making a decision to trade with Quotex or not to.
Overall, Quotex seems like a promising new broker with low fees and a user-friendly platform.
How to Create a New Account in Quotex for Beginners
Creating a new account in Quotex is simple and easy. Just follow these steps:
1. Go to the Quotex website and click on the “Sign Up” button.
2. Enter your personal information like name, email address, and password.
3. Choose the currency you want your account to be based in (USD, GBP, EUR, BRL. IDR, MYR, INR, KZT, RUB, THB, UAH, VND among others.
4. Verify your email address by clicking on the link in the verification email sent to you by Quotex.
5. That’s it! You’ve now successfully created a Quotex account and can start trading!
Quotex Mobile App
With Quotex, you can trade on the go, wherever you are. Plus, the Quotex mobile app offers all the same features as the Quotex desktop platform, so you’ll never miss a beat. Here’s how to get started with the Quotex Mobile App:
1. Download the Quotex mobile app from the App Store or Google Play.
2. Open the app and create an account. You’ll need to provide some basic personal information and set up a username and password.
3. Once your account is created, you can deposit funds and start trading right away.
4. To start trading, simply click on the “Trade” button in the main menu. From there, you can choose the asset you want to trade, set your price, and place your order.
That’s it! Now you know how to trade in Quotex using our mobile app.
If you are new to Quotex and want to learn how to trade, the best place to start is with a DEMO account. This will allow you to practice trading without putting any real money at risk.
To get started, simply go to the Quotex website and create an account.
Once you have registered and logged in, you will be able to access the DEMO trading platform. Here you can explore the different features of the Quotex platform and try out your trading strategies.
One of the great things about using a DEMO account is that you can test out different strategies and see what works best for you.
So take your time, experiment, and learn as much as you can. When you feel ready, you can then switch to a live account and start trading for real.
How to Verify Quotex for Beginners
In order to verify your account on Quotex, you will need to provide some basic information and documents. After you have registered for an account, you will be able to access the verification page by going to the “settings” tab and selecting “account.”
To begin the process, you will need to provide your full name, date of birth, country of residence, and phone number.
You will also be required to upload a copy of your government-issued ID.
Once all of this information has been submitted, you will need to wait for a customer service representative to review your account. This can take up to 48 hours.
Once your account has been verified, you will be able to trade on Quotex!
How to Deposit Money to Quotex for Beginners
The Quotex deposit process is an easy and straightforward one.
1). Once you have logged in either on the mobile app or via your browser, click on the green deposit button in the top right corner.
2). Choose the method you’d like to use for the deposit. You can fund your Quotex account via crypto (more than 20 coins available), bank cards (Visa or Master Card), or ePayments (Mpesa, Airtel Money, AdvCash, and Perfect Money)
3). Enter the amount you wish to deposit. Deposits above $50 attract bonuses of up to 50%.
4). Click on the DEPOSIT button and enter the required information.
5). Proceed to make payment. Your funds will reflect instantly.
How to Trade on Quotex for Beginners
If you still aren’t sure about how to trade on Quotex, don’t worry. This section will help you with that.
a). Choose an Asset to Trade
The first thing that you need to do is choose an asset to trade.
These can either be currency pairs, commodities, indices, crypto, or metals.
Also, make sure you choose assets with the best rate of return. Ideally, 80% is considered good.
b). Set the duration of the trade
Have I already mentioned that Quotex offers trades that are based on a fixed duration?
Well, Quotex is a Fixed Time Trading broker and this means you will have to set the duration you want your trade to run for.
The minimum time for trading in Quotex is 1 minute and you can also open a trade that runs for up to 23 hours.
c). Enter Amount to Trade With
The minimum trade amount in Quotex is $1. But you can trade with amounts higher than that up to $5,000 in a single trade.
Choose how much you want to trade with as shown in the image below.
d). Pick the Direction of Trade
All said you need to pick the direction of your forecast.
Where do you think the market will head to? UP or DOWN?
If you predict UP, then you are forecasting that the price of the asset you are trading will rise in value by the time your trade closes.
Conversely, clicking on the down button is a prediction that the price of the asset you are trading will fall in value over the time you pick for your trade.
Should your trade end up successful, you will earn up to 98% returns.
If your prediction is wrong though, then you can only lose the amount you traded.
How to Withdraw Profits From Quotex fro Beginners
Regardless of if you are a beginner, an intermediate, or an advanced trader, your main aim of trading should be to make profits.
But after you have traded in Quotex and earned profits, what next? How do you withdraw your profits?
Here’s how to withdraw money from Quotex: –
1). Login to your Quotex account.
2). Click on the Withdraw button in the top right corner.
3). Enter the amount you wish to withdraw and choose your preferred payment method. Remember, you can only withdraw to the methods you have used to deposit in the past.
4). Click on the confirm button to initiate the Withdrawal.
You can also watch this video to learn how to Withdraw from Quotex Step by Step.
Frequently Asked Questions
1). Is Quotex good for beginners?
Yes, Quotex is good for beginners. It has a demo account that you can use for training, it has more than 20 deposit and withdrawal methods and it has basic and advanced trading tools to help you pick a trading direction.
Not to mention that Quotex also provides trading signals which you can use to trade even without experience in trading.
2). Is Quotex Free?
Yes, Quotex is free to trade with on a demo account. The only disadvantage of trading with a demo account (longer) is, that the demo account uses virtual funds.
This means you will not be able to withdraw earnings made on the demo account. To begin making real profits in Quotex, fund your account with at least $10. This is the minimum deposit in Quotex.
Lest I forget, the minimum trade amount in Quotex is $1 and the minimum withdrawal is $10.
3). Is Quotex legal in the US?
Yes, Quotex works in the US. It also works in the UK, Canada, Spain, Italy, Brazil, and India among other international counties in Europe, Asia, South America, and Africa.
The best part, Quotex also provides country-specific deposit and withdrawal methods like Mpesa in Kenya, and BOI payment method in India.
4). How to Trade in Quotex Without Loss.
There are various trading strategies that you can use in Quotex to trade. However none of the strategies is foolproof. You will win multiple trades in one instance and lose 1 or two in the next instance.
Therefore, you should not focus on winning all trades, rather, focus on losing fewer trades.
5). Quotex Bonus and Promo Codes.
As a beginner in Quotex you will get a 30% deposit bonus on your first deposit. You can tap on the market button on the Quotex apps to see various promo codes that are active that you can also use to get a bonus from time to time when you deposit.
Overall, it is easy to trade on Quotex both for beginners and advanced traders. If you are not sure how to use Quotex tools or where to find them, make sure you also watch this video.
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