The number of Indonesians who have joined as investors in the capital market is still very small. In other words, there are still many opportunities for many parties to attract potential investors here, including brokers or brokers. Some time ago, many Indonesian traders were discussing a new brokerage company, namely Trading Quotex.
Have you ever heard of this one broker? The following is a complete explanation of Quotex trading, user reviews, the legality of Quotex, how to register, to how to take advantage of a demo account from this broker.
What is Quotex trading
For those of you who like to trade, there is currently a new broker that you can consider, namely Trading Quotex. Quotex is a trademark of Awesome Ltd, a brokerage firm based in the Seychelles.
Quotex offers trading instruments with a binary options system. Binary options themselves are trading instruments that make traders have to predict the increase or decrease in asset prices within a certain period of time.
Even if you are used to regular forex trading, you should familiarize yourself with the new terms in this type of trading. For example, high or call when the price you expect to rise and low or put when the opposite situation.
The profit potential of this system is very large, which can reach 60%-90%. But of course this comes with a big risk as well. Not a few experts call trading with the binary options system a gamble because it uses the basis of speculation or luck.
However, if you are really interested in diversifying the types of trading instruments, there is nothing wrong with trying Quotex trading. Quotex provides a variety of products even up to 410 options. The four hundred more options include foreign currencies, crypto coins, stock exchange index-15, to precious metal commodities such as gold, silver and so on.
Review Quotex
Quotex was only official in November 2020 but has become the talk of many traders in Indonesia. Some traders consider the presence of Quotex trading very helpful for them to invest, but there are also the opposite.
Review Positif Trading Quotex
For traders who persist in using the Quotex website or app to trade, they have several reasons. First, the initial deposit value is relatively small, which is only 10 dollars. For new traders, the small deposit amount makes them dare to start investing with Quotex trading.
Second, there is a complete chart feature with a total of nine indicators and preferences. The user can also simplify the appearance by hiding some indicators that are not needed at that time.
Not only the completeness of indicators, the completeness of data that users can see with a timeframe of five seconds to one day makes many traders addicted to using Quotex trading. Traders find this feature helpful.
Furthermore, by using Quotex, users or traders really like the duplication feature. This feature allows traders to duplicate proven successful trader strategies with just one click. So this will make predictions easier and increase the chances of winning.
In addition, the advantage of Quotex if you want to compare with other broker applications or websites is the Indonesian language option. Not many brokers have provided Indonesian as one of their service languages. So usually traders from Indonesia have to use English when analyzing data and so on.
Indonesian is not only the language on websites and applications, but also customer service. So when you find a problem, it will be very easy for Indonesian traders to solve it.
Review Negatif Trading Quotex
The rise of Quotex trading in Indonesia cannot be separated from the negative experiences of its users. This is because binary options in trading are indeed quite different from regular trading investments or investments in general.
Because it adheres to the binary system, not a few traders experience big losses. The way binary options work only limits the two possibilities that occur to traders, namely profit or money runs out.
When traders predict the price to go up by giving a “Call” action and the price really goes up, they will get a profit worth the price they have bet multiplied by the payout number. On the other hand, if the prediction is wrong or the price drops then the trader gets nothing and their money runs out.
So even though it promises a lot of profit, the risk of using Quotex trading is also very large. Moreover, traders cannot freely manage their risks like regular forex trading by placing a close position. If you make a wrong prediction when making this trade, then you will lose 100%.
If you check the Quotex trading app reviews on the Google Play Store, you can also find a lot of negative reviews from users. Many traders using Quotex admit to having difficulty withdrawing money and having trouble logging back in after logging out for a while.
Legality of Quotex
Quotex has obtained a license from the International Financial Market Relations Regulation Center (IFMRRC), which is an independent and non-commercial organization that regulates the quality of services in the financial sector, including brokers.
The mission of this organization is to provide traders and investors with complete security when they transact in the stock market, foreign exchange and crypto coin markets. So they certify companies that provide these services.v
Even though it has obtained a license from the well-known organization, until now Quotex has not received permission from the Indonesian Financial Services Authority (OJK). So we can say that the activities of this company in Indonesia are illegal.
CoFTRA together with the RI Kominfo have actually blocked the Quotex trading website along with hundreds of other brokerage websites which they consider to be fraudulent investments. But you can still find Quotex with its new site.
How to register Quotex
Even though CoFTRA and the RI Kominfo have blocked the website for trading Quotex, the new Awesome Ltd website keeps popping up. This can not be separated from the influence of many Indonesian traders who are still interested in using the services of this broker. If you are one of them, see below how to list Quotex.
- First, open a browser page on your computer, then go to the Quotex.io website
- You are now on the official Quotex trading site. Click the words “Create Account” in the upper right.
- Next, you have to fill in some data. You can register using your email address, Google account, Facebook account, and VK account. If you want to register using your email address, just fill in the fields provided. Then select the currency you want to use to trade.
- If you want to use a Google account, Facebook account or VK, please click the button located under the words “Sign in via” according to the logo. Later you have to sign in to your account on the online media.
- Click on “Service Agreement” to read the terms and conditions that Quotex has set. Read carefully so you don’t make a mistake later.
- If you have read the service agreement and agree with all the provisions, then check the small box in front of the words “I confirm that I am 18 years old or older and accept”. You need to pay attention, this means that if you are not 18 years old, you are not allowed to trade Quotex.
- Check the inbox of the email you used to register with this broker. Open the message and verify according to the instructions in the email message.
Since Quotex is a brokerage company so you will be dealing with money, make sure you fill in every data correctly. Don’t let you lose just because you entered the data incorrectly. Isn’t it quite easy to create a Quotex trading account?
Demo account available
One of the advantages of Quotex trading is that it is quite friendly to new users and even new traders. You can use a demo account which you can access immediately after creating an account on the official website.
This demo account allows you to explore and get to know the trading platform before actually investing. Through a demo account, you can practice your ability to trade on various assets and try out all the features that Quotex has to offer.
By using a demo account, you can try to invest without risk because it uses 140,000 virtual money. However, because it is risk-free, this demo account is also not able to generate profits.
Cara trading quotex
If you feel confident with Quotex trading when you try a demo account, it’s time for you to do real trading. Switch the account to “Real Account” and top up. In the future, you can press the “Deposit” button on the top right if you want to top up your deposit.
After making a deposit, the next step is to choose an asset or instrument. In this process you will be able to see the percentage return or profit if you won the trade. If you are a new trader, it is better to learn in advance what the nature of each instrument is.
After that set the time when your trade will expire. You can adjust the time down to seconds. Next, enter the amount of investment or capital that you want to use for trading on the instrument you have previously selected. Then, determine which direction the price will move according to your prediction.
Before choosing an “up” or “down” prediction, you can consider it by looking at the indicators. Therefore, install indicators so that you can predict whether a certain asset is in a period of high prices or vice versa.
Determining which indicators you need to use during the Quotek trading process is not easy. So you can bring up all the indicators if you are still confused about determining a certain strategy.
Download the quotex app
Good news for you traders who prefer to observe price movements via smartphones. You can do Quotex trading through the application and it is available on the Google Play Store and AppStore.
Search for “ Quotex – Online Investing Platform ” and you will find the official Quotex app. Click “Install”, wait a few moments, and open the application. If you already have a Quotex account before, you just need to login.
But if not, then you have to make it first by clicking “Sign Up”. Fill in the available fields, check the approval column, and click “Register”.
Basically, it looks the same way when you access Quotex through the website.
After that, you can start using a demo account using the application or start trading right away by sending a deposit. Using a smartphone will certainly make it easier for you to monitor every price movement in the capital market.
Are you sure to invest in Quotex?
This is a complete explanation of the new brokerage company, Quotex. Even though they are still new, many traders from Indonesia are already fluent in using their services. Many of them also create various content on social media and invite their followers to trade Quotex.
Before you also join this brokerage company, you should first understand every risk that you can get when investing through Quotex. Learn about the investment system they offer in its entirety.
Trading Quotex does promise huge profits but there is also a big risk that comes with it. So make sure you use cold money or money that is not used to invest.
In addition, you need to remember that Quotex is not registered with the OJK, the official institution that regulates the licensing of financial institutions in Indonesia. When you experience a loss, fraud, or so on, then you OJK will not intervene to resolve your case.