Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
10/10 · CriticalNo licence anywhere while taking retail deposits, plus warning-list entries and stop orders from four national regulators naming these exact domains.
Identity & transparency
8/10 · CriticalAn address and entity are disclosed, but the operator has churned across three offshore jurisdictions, a second company handles payments, no registration number is published and the domain registrant is shielded.
Withdrawals & conduct
8/10 · CriticalFund-integrity reports on more than one platform describe the same mechanism with checkable amounts and dates, and the service agreement permits deletion of a funded account without prior notice; credited for the many clients who do get paid.
Reputation
9/10 · CriticalRating removed by Trustpilot for a guidelines breach with fake reviews deleted, complaint threads on a forex forum, and adverse publications from four authorities.
Website claims
6/10 · HighCredited for claiming no licence it does not hold and for an age claim consistent with the domain record, but it markets globally without disclosing that no regulator supervises it and leans on unverifiable team-experience claims.
Operational history
3/10 · LowAbout six and a half years of continuous presence evidenced from the domain record, treated as an upper bound because the offshore operating companies could not be dated.
Who they are
A quick desk file on the company behind the brand.
- Brand: Quotex, a fixed-time (binary options) trading platform.
- Legal entity: Maxbit LLC, named as the operator by Italy's CONSOB, Portugal's CMVM and Brazil's CVM. The platform's own payment policy names a second company, ON SPOT LLC GROUP. An earlier operator, Awesomo Ltd, is named alongside Maxbit in the CMVM warning.
- Registered: Maxbit LLC at First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, Saint Vincent and the Grenadines. ON SPOT LLC GROUP at Main Street, P.O. Box 625, Charlestown, St. Kitts and Nevis.
- Website: quotex.io and qxbroker.com, with quotex.com resolving through the same nameservers.
- Only licence: none. No regulator anywhere licenses, supervises or holds client money for this operation.
- Offers: fixed-time trades on currencies, shares, metals, energy and crypto, advertised as more than 400 instruments, funded mainly by card and cryptocurrency.
- Not accepted: the site states its services are unavailable in the USA, Canada, Hong Kong, EEA countries, Israel and Russia, and to anyone under 18.
- Age claim: the About page says the team launched the project in 2019. quotex.io was registered on 6 January 2020 and qxbroker.com on 19 May 2021, so the age claim is broadly consistent with the record.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Financial Services Authority, Saint Vincent and the Grenadines
Why we reached this verdict
How the evidence adds up.
Three things decide this, and each one is a regulator's own finding about these exact websites rather than an opinion about the brand.
- No licence exists, anywhere. The platform names no regulator and displays no licence number, and there is nothing to find: Maxbit LLC is an offshore company registration in Saint Vincent and the Grenadines, whose authority states it does not license or supervise forex or binary-options trading. An offshore incorporation is not regulation, and it carries no client-money segregation, no compensation scheme and no complaints body.
- Four regulators have acted, naming the sites. Malaysia's Securities Commission lists Quotex with the addresses quotex.io and qxbroker.com for unlicensed dealing in securities. Brazil's CVM ordered Maxbit LLC to stop, under Declaratory Act 24.483 of 5 December 2025, with fines accruing daily. Portugal's CMVM published its warning on 3 January 2023. Italy's CONSOB, by resolution 22116 of 16 December 2021, ordered internet providers to block Italian access to quotex.io and quotex.com after a Guardia di Finanza referral. These are four separate authorities and four separate processes, not one story repeated.
- Clients report the money not coming back. The complaints describe one mechanism, not assorted grumbles: an account is suspended or deleted after a profitable run, often citing a service-agreement or 'Non-Trading Operations' breach, and the balance goes with it. Named figures include $600, $13,800, $17,301 after a $10,000 crypto deposit, and one account of more than $180,000 with a $40,000 withdrawal pending. The pattern meets three of the four tests we apply: one repeated failure, different users across more than one venue, and checkable detail in the form of amounts, dates and stated reasons.
- The platform's own rules permit it. Its published FAQ confirms accounts may be deleted for service-agreement violations and that, where detection is automatic, the company reserves the right not to notify the owner in advance. That is the complaint pattern written down as policy.
- The reassurance is compromised. Trustpilot has stripped the rating for a breach of its guidelines and says it removed fake reviews. A five-star wall that a review platform has itself sanctioned is not evidence of good conduct.
On our scorecard the weighted mean comes to 78%. Because two or more independent regulator-class findings are on record, our method sets a floor of 90%, and that is the figure published. The verdict is not driven by the offshore licence being weak, which would be a risk note: it is driven by there being no licence at all, formal action by four authorities against these domains, and a documented pattern of clients losing access to their balances.
One point of fairness on identity. A widely indexed broker-directory profile carries the Quotex name but publishes a different website, so it describes a different operation. None of its scores, complaint counts or disclosures were used here. Every finding above is tied to quotex.io, qxbroker.com or Maxbit LLC by name.
Note on operating history: the 6.7-year track record rests on domain registration alone. No company incorporation date could be established, so this is an upper bound rather than a confirmed age.
Evidence ledger
Every finding, with its source and how strongly it points.
E1Malaysia's Securities Commission lists an entity named Quotex on its Investor Alert List, with the websites quotex.io and qxbroker.com and the year 2021, for carrying on unlicensed capital market activities of dealing in securities. Both addresses match this operation exactly.
E2Brazil's securities regulator issued Declaratory Act CVM 24.483 on 5 December 2025 against Maxbit LLC, operating under the Quotex brand, ordering the immediate suspension of any public offer of securities intermediation services, with fines of R$1,000 per day for non-compliance. The act names qxbroker.com/pt and quotexcorretora.com.
Hard proofComissao de Valores Mobiliarios (Brazil)E3Portugal's CMVM warned on 3 January 2023 that Quotex/Maxbit LLC and Quotex/Awesomo Ltd are neither authorised nor registered for any financial intermediation activity in Portugal, and are not permitted to advertise or prospect for clients. The warning lists quotex.io, qxbroker.com, quotex.com, quotex-trade.io, quotexcorretora.com and partner.qxbroker.com, together with the platform's Facebook and Instagram accounts.
E4Trustpilot has removed the company's rating, stating that it is unavailable due to a breach of its guidelines, and that a number of fake reviews were removed for this company. The page carries 4,871 reviews split 88% five-star and 5% one-star with almost nothing in between, which is the distribution review manipulation leaves.
StrongTrustpilot, qxbroker.comE5Client reports describe one repeated failure with checkable detail: an account suspended or deleted after profitable trading and the balance lost. Named examples include $600 taken, a $13,800 transfer marked processed that never arrived, $17,301 deleted following a $10,000 crypto deposit, an account of more than $180,000 with a $40,000 withdrawal pending, and a deposit refused a refund after the account was suspended without a trade being placed.
StrongTrustpilot, qxbroker.comE6The platform's own published FAQ states that accounts may be deleted for violation of the service agreement and that, where a violation is detected automatically, the company reserves the right not to notify the owner in advance. This is the mechanism clients describe, set out as policy.
E7The platform's own footer attributes its payment policy to ON SPOT LLC GROUP at Main Street, P.O. Box 625, Charlestown, St. Kitts and Nevis, while three regulators name Maxbit LLC of Saint Vincent and the Grenadines as the operator. The company that takes the money and the company named in the warnings are not the same, and no registration number is published for either.
E8The About page states that the team launched the project in 2019, alongside unverifiable claims of 200 years of combined team experience and more than 400 instruments. It names no regulator and no licence number, so the platform does not misrepresent a licence but also never tells a visitor that nobody supervises it.
E9quotex.io was registered on 6 January 2020 through GoDaddy, with the registrant concealed behind Domains By Proxy and the domain served by the nameservers sofia.ns.cloudflare.com and howard.ns.cloudflare.com. This dates the operating platform and ties it to the other domains sharing those nameservers.
ModerateIdentity Digital RDAP, quotex.ioE10qxbroker.com was registered on 19 May 2021 and runs on the same two Cloudflare nameservers as quotex.io, confirming common operation of the two anchor domains.
ModerateVerisign RDAP, qxbroker.comE11quotex.com carries a registration date of 4 June 2003 but sits on the same two Cloudflare nameservers as the anchor domains, so it is an aged domain acquired by this operation rather than 23 years of trading history. Italy's CONSOB named it alongside quotex.io in 2021.
ModerateVerisign RDAP, quotex.comE12An independent mirror of the Malaysian Investor Alert List records the Quotex entry with the websites quotex.io and qxbroker.com and the reason given as carrying on unlicensed capital market activities of dealing in securities, corroborating the listing independently of the regulator's own page.
E13A second review platform records 228 ratings averaging 4.7 out of 5 with 94% of reviewers recommending the platform, and its negative reviews centre on slow payouts and bonus terms rather than money not returned. Real clients are being paid, which is why this is not a total-loss operation.
ModerateRealReviews, qxbroker.comE14Malaysia's Securities Commission separately lists a potential clone entity called Quotex Mastertrade at quotex-mastertrade.com, added in 2022 for an illegal investment scheme. That is a different operation impersonating this brand, and none of its findings were attributed to Quotex.
The other side
The strongest case in this broker’s favour.
The case against Quotex is strong, but it is not the whole picture, and these points are real.
- It is a genuine platform, not an impersonation. Quotex trades under its own name and does not wear another firm's licence or identity. There is no clone finding here, and the operation has run continuously since early 2020 on the same infrastructure.
- Many clients are paid. A separate review platform records 228 ratings averaging 4.7, with 94% saying they would recommend it, and its negative reviews are mostly about slow payouts rather than lost money. Numerous first-hand accounts describe withdrawals arriving without difficulty.
- Part of the regulatory picture is a product ban, not an accusation of theft. Binary options are prohibited for retail clients across the EU, the UK and Australia. A warning that a binary-options platform is not authorised in those places is partly a statement about the product, and the site does formally exclude the EEA, the USA, Canada, Hong Kong, Israel and Russia.
- The closures have a stated basis. The company frames account deletions as enforcement against bots, automated trading and duplicate accounts, which are things legitimate platforms do police.
- No court has ruled. We found no criminal conviction and no civil fraud judgment against Maxbit LLC. The Brazilian measure is an administrative stop order, and the Italian measure is a site block.
What these do not do is answer the central problem. None of them puts a supervisor between a client and the platform, and none explains the accounts closed with five and six-figure balances on them. Positive reviews cannot clear an operation when the platform hosting them has removed its rating for review manipulation.
What would change this
What we would need to see to revise the verdict.
This verdict is falsifiable. Any of the following would move it, and the first two would move it a long way.
- A genuine trading licence from a real supervisor, verifiable on that regulator's own register in the name of the entity that actually holds client deposits, with the platform's domains recorded against it.
- Removal of Quotex from Malaysia's Investor Alert List, revocation of Brazil's Declaratory Act 24.483, and withdrawal of the Portuguese and Italian measures.
- Evidence that the large closed-account cases were resolved and the balances returned, ideally documented publicly by the affected clients or through a dispute body.
- Restoration of the Trustpilot rating, which would mean the platform had stopped the conduct that caused it to be removed.
- A service agreement that removes the company's discretion to delete an account holding client funds without prior notice, and names one identifiable entity that holds the money.
- Client funds held in segregated accounts at a named bank, with an audit or attestation that a reader can check.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Securities Commission Malaysia, Investor Alert List
Search Quotex to see the entry naming quotex.io and qxbroker.com.
Brazil CVM alert on Maxbit LLC
The Brazilian regulator's stop order against the operator of Quotex.
CMVM warning on Quotex/Maxbit LLC and Quotex/Awesomo Ltd
Portugal's warning of 3 January 2023, republished by the Belgian regulator.
Trustpilot page for qxbroker.com
Shows the removed rating and the client complaints in full.
Frequently asked questions
Quick answers about this broker’s safety.
Is Quotex a scam?
We assess Quotex as a scam risk at the top of our scale. It holds no financial licence anywhere, and four national regulators have named its own websites as unauthorised. Clients also report accounts being closed with balances still on them. We would not recommend depositing.
Is Quotex a fraud?
No court or regulator has made a finding of fraud against Maxbit LLC, so we do not state that as a fact. What is on record is that Brazil's CVM ordered it to stop offering intermediation services, Malaysia's SC lists it for unlicensed dealing in securities, and Portugal and Italy have both acted. On the evidence we hold, we assess the risk of fraud as high.
Is Quotex regulated?
No. Quotex names no regulator and displays no licence number, and we found no licence in any register. Its operator, Maxbit LLC, is an offshore company registration in Saint Vincent and the Grenadines, which is not a trading licence and gives you no protection.
Can I withdraw my money from Quotex?
Many clients do withdraw without difficulty. But a consistent set of reports describes accounts suspended or deleted after a profitable run, with the balance lost, citing a service-agreement or non-trading-operations breach. If you hold funds there, take them out in stages rather than letting a large balance build.
Is my money safe with Quotex?
No. There is no licence, no requirement to keep client money separate from company money, and no compensation scheme. If the platform stopped paying tomorrow, there would be no supervisor to appeal to and no fund to reimburse you.
Who owns Quotex?
Ownership is not publicly disclosed. Regulators name Maxbit LLC of Saint Vincent and the Grenadines as the operator, and the platform's own payment policy names a second company, ON SPOT LLC GROUP, in St. Kitts and Nevis. An earlier operator, Awesomo Ltd, is named in Portugal's warning. The domain registration is held behind a privacy service.
How old is Quotex?
About six and a half years as an operating platform. quotex.io was registered on 6 January 2020 and qxbroker.com on 19 May 2021, which fits the About page saying the project launched in 2019. Note the offshore companies behind it could not be dated, because Saint Vincent and the Grenadines publishes no public company search, so that figure is an upper bound.
Why is Quotex blocked in some countries?
Two different reasons. The platform itself says its services are unavailable in the USA, Canada, Hong Kong, EEA countries, Israel and Russia. Separately, Italy's CONSOB ordered internet providers to block Italian access to quotex.io and quotex.com by resolution 22116 of 16 December 2021, because the operator was not authorised there.
What is a Saint Vincent and the Grenadines registration worth for a broker?
Very little. It is a company incorporation, not a licence. The territory's Financial Services Authority has stated it does not license or supervise forex or binary-options trading, so no one there is checking how client money is handled or whether withdrawals are paid.
Is Quotex a clone of another broker?
No. Quotex trades under its own name and does not use another firm's licence or identity. The reverse happens instead: Malaysia's Securities Commission separately lists a potential clone entity called Quotex Mastertrade at a different website, which is not this platform.
Why does Quotex have so many five-star reviews?
Treat them carefully. Trustpilot has removed the company's rating for a breach of its guidelines and states that it deleted fake reviews for it. The profile shows 88% five-star and 5% one-star with almost nothing in between, which is the shape review manipulation usually leaves.
Quotex is asking me to pay a tax or fee before releasing my withdrawal. Should I?
No. Never send more money to get money out. A demand for a tax, fee, insurance or verification payment before funds are released is the advance-fee pattern, and reports of it have been made about this platform. A legitimate broker deducts any charge from your balance.
What should I do if I lost money on Quotex?
Gather your deposit receipts, transaction identifiers and chat history, then ask your card issuer or bank for a chargeback and report it to your national financial regulator and the police. Do not pay anyone who offers to recover the funds for an upfront fee, as that is a common second scam.
What should I check before depositing with any broker?
Find the licence number on the broker's own site, then look it up on the regulator's register yourself and confirm the entity name and the website match. Check whether the regulator is a serious one, and search the exact domain on the major warning lists. If any of those steps fails, keep your money.
What we recommend
The practical takeaway from everything above.
Our recommendation is to keep money away from this platform.
- Do not deposit. There is no regulator to complain to, no compensation scheme and no segregation of client money. Anything you send is unprotected as a matter of structure, not just of conduct.
- If you hold a balance, withdraw it now and take it out in stages rather than waiting for a large total to accumulate. The reported closures cluster around accounts that had grown.
- Never send a further payment to release a withdrawal. Requests to deposit more to cover a tax, fee, insurance or verification charge before funds are released have been reported here, and no legitimate broker works that way.
- Keep your records. Save deposit receipts, transaction identifiers, chat and email history and screenshots of your balance. These are what a bank or card issuer needs.
- If you have lost money, raise a chargeback with your card issuer or bank, report it to your national financial regulator and to your local police. Brazilian, Portuguese, Italian and Malaysian residents can cite the existing measures from their own authorities.
- Ignore anyone offering to recover your funds for an upfront fee. Victims of platforms like this are routinely approached a second time by recovery scams.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed September 9, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.