Quotex

Quotex Review – Is This Broker a Scam?

Quotex has been making waves in the online trading world, advertising itself as a cutting-edge platform for digital options trading. With flashy promotions and a 4.7-star rating on Trustpilot, it might seem like a legitimate choice. But is it really as good as it looks? Or is this just another well-disguised scam?

Our investigation uncovered some serious red flags—from an unregulated status to suspicious withdrawal complaints and misleading company history. How does a broker claim to exist since 2019, yet their domain was only bought in 2021? That’s just one of the many inconsistencies we found.

So, is Quotex a trustworthy broker, or is it just another trap for unsuspecting traders? Let’s break it down and expose the hidden dangers behind this platform.

Quotex Scam Review – General Broker Information

Here’s a breakdown of key details about Quotex that every trader should know before considering this platform:

Key Takeaways:

• No regulatory oversight means traders have zero protection.
• Domain was purchased in 2021, while they claim to have existed since 2019.
• No clear information on leverage, trading conditions, or supported platforms.
• Fake and manipulated Trustpilot reviews mask serious complaints from real users.
• Withdrawals frequently delayed or blocked, as reported by traders.

This kind of lack of transparency is a massive red flag for any broker. Would you really trust a company that hides so much crucial information?

Quotex Scam Review – Argument 1: Date of Establishment vs. Domain Purchase

Here’s where things start to get interesting. When we checked Quotex’s official claims, they state that the platform was established in 2019. But here’s the catch—our investigation revealed that their domain (qxbroker.com) was only purchased on May 19, 2021.

Now, let’s think for a moment. If a broker has been operating since 2019, why was their domain only acquired in 2021? Would a legitimate financial platform wait two whole years before securing its official website? That doesn’t add up.

This kind of inconsistency is a classic red flag in the scam world. Many fraudulent brokers fabricate their history to appear more reputable. They want users to believe they’ve been around for years, building trust, when in reality, they’re just another newly launched scheme.

So, what’s the logical conclusion here? Either Quotex wasn’t actually operational in 2019, or they used another domain (which conveniently no longer exists). Either way, it raises serious doubts about their credibility. Would you trust a broker that can’t even be honest about when they started? ​

Quotex Scam Review – Argument 2: Fake or Non-Existent License?

A broker’s license is one of the key indicators of its legitimacy. And guess what? Quotex doesn’t have one. The company operates without a valid license, which means no regulatory authority oversees their activities.

They claim to provide financial services, but without any legal backing, there’s zero protection for traders. If they decide to freeze your funds, manipulate trades, or disappear overnight, you have no way to take legal action.

Now, let’s address the elephant in the room. Some scam brokers try to cover up their lack of a real license by claiming they are “regulated” by obscure or fake financial bodies. But Quotex doesn’t even attempt that. They simply operate without regulation, which is almost worse because they don’t even bother to look legitimate.

So, what does this mean for traders? If you deposit money into Quotex, you are doing so at your own risk. No financial watchdogs are monitoring their operations, which means they can do whatever they want with your funds. A trustworthy broker would always hold a valid license from respected organizations like the FCA (UK), ASIC (Australia), or CySEC (Cyprus)—but Quotex has none.

Still think it’s safe to trade with them?

Quotex Scam Review – Argument 3: Suspicious Reviews on Trustpilot

When we checked Quotex’s profile on Trustpilot, we noticed something odd. At first glance, they have a 4.7-star rating, which seems impressive. But if there’s one thing we’ve learned about scam brokers, it’s that fake reviews are their favorite tool for deception.

Let’s break it down:

1. Overwhelmingly Positive Reviews, Yet 212 Complaints?
   They have 4,644 total reviews, and most of them are glowing 5-star ratings. But here’s the contradiction—212 bad reviews tell a completely different story. Why would a “trusted” broker with such a high rating have so many complaints? That’s a red flag right there.
2. Fake Reviews Are Obvious
   When analyzing positive reviews, we noticed a pattern: many of them are generic, short, and written in the same style. Some even lack details about actual trading experiences, simply stating, “Great platform, fast withdrawals!” Real traders usually write more detailed feedback, mentioning specific issues, trading conditions, or customer service interactions.
3. Negative Reviews Tell the Real Story
   Among the bad reviews, common complaints include:
   • Withdrawals being blocked or delayed indefinitely
   • Manipulated trades and fake price movements
   • Accounts being suddenly suspended for no reason
   • Non-responsive customer support
4. This paints a much darker picture. People are struggling to withdraw funds, and some claim Quotex outright steals their money.
5. Trustpilot Manipulation?
   It’s not uncommon for scam brokers to buy fake reviews or even report negative ones to get them removed. Some shady platforms flood Trustpilot with fake 5-star ratings to bury real complaints. Given that Quotex operates without a license, it wouldn’t be surprising if they were playing the same game.

The Verdict?

A high Trustpilot score means nothing if it’s padded with fake reviews. The real test is in the negative feedback, and Quotex fails miserably in that regard. When withdrawals are blocked, and traders are losing money with no explanation, it’s clear that something is very wrong.

Quotex Review – The Final Verdict: A Dangerous Trap for Traders

After a deep dive into Quotex, the conclusion is crystal clear—this is not a broker you can trust. The red flags are everywhere, and ignoring them could lead to financial disaster.

Here’s what our investigation uncovered:

❌ Fake history – They claim to have been around since 2019, yet their domain was only bought in 2021. This is a classic scam move to appear more established than they really are.

❌ No regulation, no protection – Quotex operates without a license, meaning there is zero legal oversight. If they decide to block your withdrawals, manipulate trades, or shut down overnight, you have no way to fight back.

❌ Suspicious Trustpilot reviews – A 4.7-star rating might look good, but the 212 negative reviews tell a different story. Many users report frozen accounts, blocked withdrawals, and shady market manipulation.

❌ Lack of transparency – No clear information on leverage, trading conditions, or supported platforms. A legit broker wouldn’t hide such key details.

At the end of the day, the risks far outweigh any potential benefits. Why trade with a broker that hides its true history, lacks regulation, and has a growing list of complaints from real users? There are countless legitimate trading platforms out there—Quotex isn’t one of them.

🚨 Final Warning: If you value your money and want a safe trading experience, stay far away from Quotex. This broker is a ticking time bomb, and it’s only a matter of time before more traders realize the truth.