QUOTEX is a binary options trading platform that has received regulatory warnings in multiple countries and widespread user complaints about withdrawal difficulties and account management issues.
Editorial note: This page compiles publicly reported user complaints and available regulatory information about QUOTEX. We recommend verifying all claims independently using the official regulatory links provided below. If you have been defrauded by this platform, report it immediately using the guidance at the bottom of this page.
QUOTEX has attracted attention from financial regulators in several jurisdictions. Binary options — the instrument QUOTEX offers — are banned for retail traders in the UK, EU, Canada, and Australia due to their high fraud risk. The platform is not registered with the FCA, ESMA-regulated bodies, or most major financial regulators.
User complaints about QUOTEX centre on bonus lock-in conditions that make withdrawal of profits practically impossible, account closure without explanation, and pressure from account managers to increase deposit sizes. Several regulatory bodies have issued specific warnings about QUOTEX.
The FCA has flagged concerns about binary options platforms targeting UK investors, and the platform is not listed on the FCA Register. EU investors should note that QUOTEX is not authorized to offer binary options to retail clients under MiFID II regulations.
"When I tried to withdraw my balance, I was told I needed to pay a tax clearance fee first. After paying, another fee appeared. Support stopped responding."
"My account manager kept calling me to deposit more, saying my position was about to become very profitable. After I deposited, they became unreachable."
"The platform showed strong profits for weeks. When I tried to take out money I was told I owed compliance fees. The profits were never real."
Before trusting any broker or trading platform with your funds, verify their regulatory status using these official databases:
Binary options are banned for retail investors in the UK, EU, and Australia. If QUOTEX is soliciting you from these jurisdictions, it is operating illegally. Report it to your national financial regulator immediately.
Some fraudulent platforms copy the name, registration number, or branding of legitimate regulated firms. Always verify the exact URL, phone number, and contact details against the official regulator's website — not information provided by the firm itself.
If you have lost money to this platform, take these steps immediately:
Recovery depends on how payment was made and how quickly you act. Bank transfers reported within 24–48 hours have the best chance of recall. Cryptocurrency is harder but traceable through blockchain forensics. A licensed investigator can assess your specific situation. Submit your case for a free review.
We are aware of multiple victims reporting similar experiences with this platform. If you would like to be connected with others who may have been defrauded, contact our case team. Group legal actions are sometimes viable when multiple victims are involved.
Do not respond or send any more funds. Any contact after a withdrawal dispute — especially offering to "release" your funds for a fee — is almost certainly part of an escalating fraud. Document the contact and report it to your fraud authority.
Our licensed investigators specialize in broker fraud. Get a free, confidential case assessment today.
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