Quotex Vs. Pocket Option Which Is Best? Quotex Review
Whether you're a seasoned trader or an absolute beginner, selecting the right binary broker is paramount to your trading success. But with so many options on the market, how can you choose the best one? This Quotex review aims to assist you in making an informed decision.
Quotex Vs. Pocket Option: An Overview
Before we fully delve into the Quotex review, we must understand its standing in the market. One of the effective ways is through a comparative analysis with other platforms in the market, like Pocket Option.
Trading success is wholly dependent on the trader’s ability to become profitable over time. However, a binary broker is responsible for buying and selling the assets in place of the trader. Therefore, a broker must be reliable and trusted, and they should be able to maximize profit value and avoid any risky situations in the market.
Therefore,Quotex vs. Pocket Option –which one is better? Here, we will discuss several advantages of both platforms and compare which is more beneficial for better trading practice.
Quotex: An Introduction
Quotex is a regulated trading platform by the International Financial Market Relations Regulation Centre (IFMRRC). It is user-friendly and interactive, offering options like indices, commodities, Forex, and more. It is significant to note that Quotex is relatively new to the broker position, but it provides good services for trading in digital binary options.
Pocket Option: A Snapshot
Pocket Option, a well-renowned binary options trading platform, was founded by Gembell Limited in 2017. The broker is regulated through the IFMRRC and offers more than 100 services and instruments. It provides a trading platform globally with various payment methods for even foreign investors.
Quotex Vs. Pocket Option: A Detailed Comparison
To help you decide whether Quotex is safe or whether Quotex is a scam, we'll break down the key features of both platforms
Minimum Deposit and Withdrawals
Regulations
Bonuses
Assets and Trading Conditions
Margin Trading
Auto Trading
Trade Signals
Copy-trading
Quotex Review: The Pros and Cons
Quotex offers numerous advantages. The platform allows the most affordable amount for investment, a minimum of $10, so that everyone can become a trader without losing too much money. They do not charge any trading fees on deposits, accounts, or withdrawal fees.
There are a few disadvantages to Quotex. The services are not available in all countries, and auto trading is not allowed. There are limited assets on the weekend and high bonus turnover conditions.
Is Quotex Scam or Safe?
The question, "Is Quotex Scam?" often arises among traders. The answer is no. Quotex is a regulated platform by the International Financial Market Relations Regulation Centre (IFMRRC), making it a safe platform for trading.
Quotex Vs. Pocket Option: The Verdict
Comparing Quotex and Pocket Option, it's clear that Pocket Option has more features and options in assets. However, Quotex provides good services for trading in digital binary options. Therefore, choosing between the two boils down to personal preference and trading needs.
To conclude this Quotex review, we can say that Quotex is safe and is not a scam. It's a reliable platform to start your trading journey, but remember, trading success is wholly dependent on the trader’s ability to become profitable over time.
Let’s get more into details. What do both of the brokers offer their clients?
#1 Minimum deposit and withdrawals
The minimum deposit value is the amount you need to invest in a trade. Therefore, Quotex is more affordable than Pocket Option since you only need to invest $10, whereas $50 is for Pocket Option.
When it comes to payment methods, both brokers offer a wide range of methods like credit cards, electronic wallets, cryptocurrencies, and local bank transfers. Furthermore, both brokers do not charge any deposit or withdrawal fees. In the comparison of payments, Quotex wins because the minimum deposit is much lower.
2. Regulations
Both brokers are regulated but not from official government authorities. Pocket Option got one more regulation that’s why it wins this comparison:
(Risk warning: Trading involves risks)
(Risk warning: Trading involves risks)
3. Bonus
Bonus is like a complimentary welcome gift while a trader deposits initially. Therefore, Quotex provides a smaller deposit bonus of up to 80% (only on special events) than the Pocket Option, which provides up to 110% of the deposit value (depending on the account level). But there are other types of bonuses and different rules and conditions that we compared. Overall, Pocket Option is winning in this comparison because there are better bonus opportunities:
(Risk warning: Trading involves risks)
(Risk warning: Trading involves risks)
4. Assets and trading conditions
Instruments necessary for trading are assets that a trader uses to get a high return on their investment. They can change the instrument every day according to their use and after a thorough market evaluation.
Therefore, Quotex provides assets like Forex, cryptocurrencies, commodities, and indices. Pocket Option offers assets like stocks, crypto, indices, and some major and famous cryptos like BTC. There is not much difference between the offered assets.
But if we take a look at the trading conditions, Pocket Option wins against Quotex. The return on investment can be higher on Pocket Option, and Forex & CFD trading is offered via the MetaTrader 4/5.
5. Margin trading
Margin trading is the act of borrowing money to purchase stocks from brokers. Then, some of the profit is given to the broker as well. Therefore, this feature is only available with Pocket Option, whereas Quotex does not deal with margin trading on forex or stocks.
6. Auto trading
Auto trading is the plan set by the system or program where a trader can buy or sell orders automatically placed along with the program. However, the program’s rules must be fulfilled by the plan for it to work automatically.
Pocket Option allows this feature, but Quotex does not allow auto trading.
7. Trade signals
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Trade signals are information sent through analysts that study the entry of an instrument and the market values. Then, they sent these signals to the traders so that they could invest in the right place.
Both brokers allow trade signals and offer them to their clients.
(Risk warning: Trading involves risks)
(Risk warning: Trading involves risks)
8. Copy-trading
Copy trading is essential for new traders since they can copy an existing trader’s style and earn money. In addition, this process helps new traders and old and professional traders learn from other traders and adopt their successful trading styles.
Quotex does not have a social trading feature like Pocket Option, so it is very clear who is the winner in this comparison:
(Risk warning: Trading involves risks)
(Risk warning: Trading involves risks)
What is Quotex?
Quotex is a regulated trading platform by the International Financial Market Relations Regulation Centre where you can invest from an array of 100 asset choices. One of them is a digital option that refers to trades based on market price fluctuations and only offers fixed amounts.
The platform is user-friendly and has a very interactive base for usage with options such as indices, commodities, Forex, etc. Their expiration can vary from 60 seconds to even a month. The time frame varies but is only specific to a day or 24 hours.
The website is accessible to those above 18 years of age with a minimum deposit of $10 and a 95% maximum payout. The returns also depend on the trading information available and the number of traders involved.
If too many traders are aware of the information and have invested in the same square, then the prices will likely reduce, and the people on the other side would receive more payout than those who invested at the same place together.
Trading signals are a part of the live account on Quotex, where the trader gets informed about the introduction of new instruments and indicators in the market ready for trading and money-making.
There is a demo account feature where you can make a free account to study and learn trading techniques.
Moreover, you also get $10,00 as a bonus to practice as real funds and study market fluctuations.
Quotex also offer an advantageous offer to its customers like a range of binary options and a welcome bonus in the market.
(Risk warning: Trading involves risks)
Advantages of Quotex:
There are several advantages to trading with Quotex. For example, the platform allows the most affordable amount for investment, a minimum of $10, so that everyone can become a trader without losing too much money.
Some more Pros:
Disadvantages of Quotex:
Quotex is not the perfect broker for everyone, so here are some disadvantages for traders:
Best binary broker:
(Risk warning: Trading is risky)
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Quotex - Trade with high profits
What is Pocket Option?
Pocket Option is well-renowned trading in binary options platform owned and founded by Gembell Limited in 2017. This broker is International Financial Market Relation Regulation Centre regulated.
Binary options trading is not given respect due to the involvement of risky trading practices. Still, the Pocket option has proven to be a trustworthy site where you can make an account easily and start investing as a trader.
With more than 100 services and instruments, Pocket Option provides a trading platform globally. In addition, there is an option for various payment methods for even foreign investors. However, it only provides a single trading account per user which can be a downside to this broker site.
The broker is regulated through the IFMRRC, i.e., the International Financial Market Relations Regulation center, with an Anti-money laundering policy and the Know-Your-Customer policy.
The broker site is a web-based interface platform that allows a user-friendly experience and amazing designs. You can also do automated trading with the help of MetaTrader5, which has amazing analytical and technical tools.
Pocket Option even extends the trading signal feature where the signals are sent via a professional analyst. You can mimic the signal according to the expiry by selecting an option from the platform.
(Risk warning: Trading involves risks)
Advantages of Pocket Option
With Pocket Option, you get almost 100+ assets for trading. Every time a new trader joins the platform, their deposit gets an additional 50% bonus to encourage the new trader.
The process of deposit and withdrawal is safe and easy. Moreover, it happens quickly so that you do not waste even a minute.
Several services extended to traders, such as social trading, achievements, and tournaments, encourage traders to win or lose trade and understand the market better.
You can also create demo accounts for free practice with no commitment whatsoever. You get a minimum of $1 as a fair trade. The broker is trustworthy and is also regulated by the IFMRRC.
Disadvantages of Pocket Option:
In our comparison, we found some disadvantages of Pocket Option; here they are:
FAQs
The Pocket Option offers a return of up to 98% if the forecast is correct and offers a higher return than Quotex.
Quotex has a lower minimum deposit, with only $10 required to open a live account. Pocket Option, on the other hand, has a minimum deposit of $50.
Both brokers are Binary Options brokers, but Pocket Option offers more features like social trading, margin trading on the MetaTrader 4/5, and fair bonus conditions.
In Conclusion
While this Quotex review is comprehensive, the best binary trading site will always depend on the individual trader's needs and preferences. Always conduct thorough research and utilize demo accounts before committing to any platform. Happy trading!
