Quotex - Australian review - Binary Options Australia

Quotex is a broker for digital options (binary options) based on forex, cryptocurrency, commodities, stocks, and stock indices.

The smallest possible deposit is just $10, you can make deposits in both traditional currencies and cryptocurrencies, and the smallest trade size is no bigger than $1.

Unlike some binary options brokers, Quotex is offering speculation on stocks from many different parts of the world. Many brokers are overly focused on stocks listed on NYSE and Nasdaq in the United States, but with Quotex you can also speculate on stocks listed on exchange such as the Australian Securities Exchange, the Hong Kong Stock Exchange, Japan Exchange Group (Tokyo and Osaka exchanges), Euronext, the London Stock Exchange, and Borsa Italiana.

Is Quotex licensed by the Australian Securities & Investments Commission (ASIC)?

No, Quotex is not licensed by the Australian Securities & Investments Commission (ASIC), because the issuing and distributing if binary options to retail clients can not be licensed by ASIC.

In May 2021, an ASIC product intervention order came into effect which banned the issue and distribution of binary options to retail clients. It did not prohibit Australian retail clients from carrying out binary options trading; it only banned the issue and distribution of binary options to retail clients. In September 2022, ASIC announced that the ban had been extended until 1 October 2031, following approval by the Honourable Stephen Jones MP, Assistant Treasurer and Minister for Financial Services.

More information can be found in the ASIC Report 736.

About Quotex

The broker Quotex is owned and operated by Awesomo LTD, a company based in the Seychelles. In the Seychelles, the issuing and distribution of binary options and similar products to non-professional traders is still legal.

Awesomo LTD company ID: 22 10 42

Awesomo LTD address: Suite 1, Second Floor, Sound & Vision House, Francis Rachel Str., Victoria, Mahe, Seychelles

Awesomo LTD is a member of The International Financial Market Relations Regulation Center (IFMRRC). This is not a regulator, it is simply a membership organisation.

Digital options trading

The trading platform can not be downloaded and installed on a desktop computer; it will open directly in the browser window.

Mobile apps are available for smartphones and tablets.

Underlying assets

With Quotex as their broker, Australian traders can use digital options to get exposure to various types of underlying assets, including forex, cryptocurrency, stocks, commodities, and indices.

The forex category includes over 20 different forex pairs.

Examples of cryptocurrencies available for speculation are BTC, ETH, LTC, and XRP.

Stocks are available from many different parts of the world. For many Australian traders, it is a big plus that this broker actually offers binary options based on certain shares listed on the Australian Securities Exchange, the Hong Kong Stock Exchange and on exchanges run by the Japan Exchange Group. Stocks listed on Nasdaq, NYSE, LSE, Euronext, and Borsa Italiana are also available.

Examples of stock indices that you can speculate on are FTSE UK, DJIA, S&P 500, IBEX 35, CAC 40, DAX GER 40, and the Hang Seng Index.

The category for commodity speculation includes both energies and metals.

Are turbo options available?

Yes, many binary options are available with lifespans from 5 seconds to 4 hours.

There is also a smaller selection of binary options available where it is possible o select a longer lifetime, up to a month (or, in rare cases, even longer).

Trade size and payouts

The smallest trade size is just $1, so it is possible to trade (and carry out sensible risk-management) here even if your bankroll is not very big.

The binary options at Quotex with the highest payout will pay 98% but they are rare. Most binary options here pay out significantly less. Examples of factors that can impact the payout level is underlying asset and lifespan. Sometimes, you can find well-paying binary options by being contrarian and going against the general market sentiment.

Technical analysis

The platform comes with tools for technical analysis, including adjustable charts and roughly a dozen indicators. You can adjust the indicators to make them more suitable for your strategy.

Trading signals

Quotex supports the use of trading signals and trading signals are integrated into the Quotex platform.

Is Automated Trading available?

Is Copy Trading available?

Sign-up for a free Demo Account

You can check out what Quotex has to offer by signing up for a free demo account.

You do not have to make any deposit to open and use a demo account with Quotex, and it is a great way to learn how things work and see if this broker is suitable for your trading strategy and preferences.

The Quotex free demo account comes with $10,000 in play-money. That way, you can experience first-hand how the interface works when placing orders.

You get access to most of Quotex offering with the demo account, but not the news, the trading tips and certain other information services that are for real-money traders only.

Account types

For real-money trading with Quotex, only one account type is available. Quotex do not have a system with tiered accounts (Bronze, Silver, Gold, etc) and they do not offer speciality accounts such as Islamic Accounts or ECN Accounts.

Indian Demat Account: No

Islamic / Muslim / Halal / Sharia Account: No

ECN Account: No

DMA Account: No

LAMM Account: No

MAM Account:No

PAMM Account: No

STP Account: No

Deposits and withdrawals

Quotex is a broker that accepts deposits and withdrawals in traditional currencies and cryptocurrencies. The accepted traditional currencies are United States dollar, Sterling (British pounds) and Euro. The accepted cryptocurrencies are Bitcoin and Ether (Ethereum).

It is not possible to make deposits and withdrawal in Australian dollars.

For traders in certain countries, only cryptocurrencies (BTC and ETH) are allowed for deposits and withdrawals.

What is the minimum deposit?

The minium deposit is $10.

What is the deposit fee?

Quotex does not charge deposit fees.

What is the withdrawal fee?

Quotex does not charge withdrawal fees.

Examples of accepted transaction methods

Bitcoin transfer
Ethereum transfer
VISA
MasterCard
Maestro
Wire transfer
ADVcash
Doku Wallet
Perfect Money

Can I have the Australian dollar as my account currency?

No, you can not. Quotex accepts a fairly long list of currencies as account currency, but the Australian dollar is not one of them.

Examples of available account currencies:

Customer service

Traders who are logged into the platform can seek out the Support section to get access to the customer support.

If you are experiencing problems logging in, or if you do not have an account with Quotex, visit the official Quotex site and use the support form to contact the support.

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Quotex – Australian review