A variety of payment methods are supported by this broker. More choices means more convenience for clients. Some prefer to use their card or transfer funds from the bank. Others want to go the relatively safer route, namely depositing funds using an online wallet. Unlike most brokers, Quotex also allows you to invest using various cryptocurrencies.
Costs are unavoidable when you enter the trading profession. The good thing about trading with Quotex is that they don’t charge for commissions. Depositing and withdrawing funds is also easier as this broker does not charge fees for either.
The low minimum deposit requirement also counts as an advantage. Some brokers require a minimum of $20 or $50. With Quotex, you can start trading with only $10 in your account. This is what makes it great for beginners or traders who want to test the broker’s skills with real money.
The most important feature is the free demo account provided by Quotex. You can take advantage of this service without having to register or register using your email or social media account. When using a demo account, you are training an exact replica of a live account. The only difference is that you will be trading with virtual money, and any profits you make will not translate into actual cash. Demo accounts are useful for training, creating new strategies, or testing theories you find in online educational materials.
Quotex Disadvantages:
Let’s move on to the minuses. An important feature that Quotex does not offer is the use of leverage. Although the use of leverage increases risk, many traders prefer trading with leverage as it increases their profits exponentially. The lack of ability to use leverage when trading is critical for many traders.
Compared to other brokers, Quotex doesn’t have much to offer in terms of educational materials. If you look at other company websites, they offer eBooks, video tutorials and webinars. Quotex doesn’t have an education tab on the website. However, they have an FAQ tab where you can find some educational information.
Finally, many traders are skeptical of brokers that are not regulated by any official regulatory body. Quotex is one of the youngest brokers out there as they have only been in business since November 2020. However, they hold a license issued by the Regulatory Center for International Financial Market Relations. However, many traders prefer to partner with a broker that is officially regulated by a reputable company.
Conclusion: Quotex is completely legal in Russia
In this article, we give you a good overview of the Quotex broker. This is a completely legal service in Russia. Traders can register and start investing in financial markets. We recommend using Quotex if you want to trade Binary Options.
Open your free account with Quotex broker
(Risk warning: Trading involves risk)
FAQ – Most asked questions about Quotex Russia :
How to save money on Quotex in Russia?
By selecting the deposit button on the platform, you can make a deposit. Enter the deposit amount after selectingdesired payment method. Russian traders have access to many payment options with a minimum deposit of 10$.
The payment options accepted by the broker are shown here:
– Electronic wallet with credit or debit card
– Cryptocurrencies
– Bank transfer
No additional fees are charged on depositing the amount.
Is Quotex safe for Russian traders?
Russian traders can trade using Quotex with a certain level of security. It is controlled or recognized by a regulatory body. User safety is a top priority for Quotex; that’s why it’s safe to use Quotex in Russia. Any information you provide to the broker on the website is secured by SSL certification.
How to make a withdrawal from Quotex in Russia?
The previously mentioned payment options can also be used to withdraw money. To access the withdrawal tab, select the “Withdraw” button. The usual processing time for deposits is one to three business days.
Is Quotex legalized in Russia?
It’s easy to say “yes” in response to this question. Since Quotex is legit, Russian traders can use its services. They can trade in cryptocurrencies, forex and other assets.
