Is Quotex Legal, Real or Fake?

Is Quotex Legit and Safe? Our Legal Reality Check

We ran Quotex through our compliance checklist. The firm discloses no valid regulatory information. Practically, that means no licensed oversight, no statutory compensation scheme, and limited dispute-resolution options. The platform markets digital-option style contracts, a $10 minimum deposit, a $10,000 demo, Web + Android access, and wide regional restrictions (e.g., U.S./EU not served). As analysts, we treat this as high counterparty risk: if you experiment, start on demo, keep any real-money exposure very small, document every step (KYC approval, deposits/withdrawals, timestamps), and prefer payment rails with traceability.

What Do Traders Ask When Checking If Quotex Is “Legal” or “Fake”?

Q1. How do I verify a brokers license—properly?

Use the regulators own register. For the U.S., check CFTC “Check” and NFA BASIC; for the UK, the FCA Register; for the EU/Cyprus, CySEC. Every license number must resolve to an entity and permission scope.

Q2. Are retail “binary/digital options” allowed in the UK/EU?

The UK FCA imposed a permanent ban from 2 April 2019; the ESMA enacted EU-wide product intervention in 2018 (national regulators have mirrored/extended it).

Q3. What protection exists if a firm is properly regulated in the UK or Cyprus?

In the UK, FSCS covers eligible investment claims up to £85,000 per person if a regulated firm fails; in Cyprus, the ICF max is €20,000 per client under conditions. Unregulated entities do not provide these backstops.

Q4. What red flags suggest a broker is “fake” even if the site looks polished?

No match on regulator registers, mismatched legal entity vs. domain, promises of guaranteed/high hit-rate returns, pressure to deposit big and resistance to small test withdrawals. (Use the checks in Q1.)

Q5. If a broker is unregulated, can I still open an account?

Access isnt automatically illegal in many places, but you lose statutory protection. We only proceed with demo first, then a tiny real-money test withdrawal to validate the full path. (General best practice; see Q3 for why protection matters.)

How Is Quotex Regulated and What Does This Mean for Traders?

No. Quotex currently has no valid regulations. Without a license, you lack a statutory safety net.