Quotex Islamic Account

Quotex is one of the most popular Online Trading platforms accepting traders from all over the world, and its trading platform is SWAP-FREE. The traders don’t pay interest or swap while trading on this platform. Hence the traders consider Quotex to be Halal. The most important question asked by the traders belonging to the Islamic faith is whether Quotex is Halal or Haram. We will cover every aspect of the trading platform concerning Islamic trading principles, and if Quotex is halal or haram.

Quotex Broker is owned and operated by Awesomo LTD. Address: Suite 1, 2nd Floor, Sound & Vision House, Francis Rachel Str., Victoria, Mahe, Seychelles ID: 221042. Awesomo Limited is a member of IFMRRC (Number TSRF RU 0395 AA V0161). In addition, The IFMRRC is an independent third-party dispute resolution service and not a government regulator. Website services are not available for persons under 18 years of age.

Quotex is a legal broker

Quotex Account Types

Quotex offers three different types of accounts for its users: the Standard Account, the Pro Account, and the VIP Account, each with varying minimum deposit requirements and features.

  • Standard Account: This is the most basic account type offered by Quotex. It is ideal for beginners or those who just want to try out the platform. The minimum deposit required to open a Standard Account is only $10. This account type gives users access to the platform’s basic features, including all the trading instruments, basic customer support, and trading updates.
  • Pro Account: This account type is designed for more serious traders who have a bigger investment budget and require more advanced features. The minimum deposit required to open a Pro Account is $1000. This account type offers all the benefits of the Standard Account, plus some additional features. These may include access to advanced trading tools, a personal account manager, and priority customer support.
  • VIP Account: The VIP Account is the premium account type offered by Quotex. This account type is designed for professional traders or high-net-worth individuals who demand the best trading conditions and services. The minimum deposit required to open a VIP Account is $5000. VIP account holders enjoy all the benefits of the Pro Account, plus some exclusive benefits such as lower trading fees, expedited withdrawals, access to premium market analysis, VIP customer support, and more.

It’s important to note that the features and benefits associated with each account type may vary, and it’s always a good idea to check with Quotex directly to confirm the specifics of each account type.

Quotex Demo Account

The Quotex demo account offers a range of features designed to give users a realistic trading experience without any financial risks. In this practice environment, users can explore the platform’s interface, gain familiarity with its tools and operations, and test their trading strategies with virtual funds. The demo account mirrors the real trading conditions, providing real-time price movements for various assets such as stocks, commodities, indices, and forex. This feature is particularly beneficial for beginners who need to understand the dynamics of the market before investing real money. It also serves experienced traders who want to refine their trading techniques without any risk. The Quotex demo account is an invaluable tool for enhancing trading skills and boosting confidence before transitioning to live trading.

Quotex Islamic Account

The Quotex Islamic Account offers a host of features, specifically designed to adhere to the principles of Sharia law, which prohibits earning or paying interest. The account is characterized by a swap-free trading environment, eliminating the accrual of interest on positions held overnight. This makes it ideally suited for Muslim traders who wish to trade following their religious beliefs. Furthermore, Quotex also provides an Islamic Demo Account. This enables potential users to familiarize themselves with the platform’s features and functions without violating any Islamic laws of financial transactions. This demo account replicates the live trading environment but uses virtual money, allowing traders to gain experience and build confidence before transitioning to real-world trading.

Quotex Islamic Account Review

Quotex Tradeable Assets

  • Commodity CFDs: Quotex allows Islamic account holders to trade in commodity CFDs like gold, silver, oil, and other commodities. This enables traders to speculate on the price movements of these commodities without owning the physical asset.
  • Forex: Forex trading is a popular option with Quotex Islamic accounts. This involves trading on the price movements of currency pairs such as USD/EUR, GBP/USD, etc.
  • Indices: Islamic account holders can trade indices like Dow Jones, NASDAQ, S&P 500, etc., which are essentially a measure of the performance of a section of the stock market.
  • Cryptocurrencies: Quotex also allows the trading of popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc. This form of trading involves speculating on the price movements of these digital currencies.
  • Stocks and Shares: With a Quotex Islamic account, traders can also trade stocks and shares of major companies from various sectors such as technology, finance, healthcare, etc.
  • Binary Options: This is a type of financial instrument that allows traders to predict the price movement of an underlying asset within a specified period. Quotex provides a platform for binary options trading as well.
  • ETFs: Exchange-traded funds (ETFs) are also tradeable with a Quotex Islamic account. This allows traders to invest in a wide range of assets, including stocks, commodities, and bonds.
  • Metals: Besides commodities like gold and silver, traders can also trade other metals like platinum, palladium, etc.
  • Energies: Energy commodities like oil and natural gas can be traded with a Quotex Islamic account.

Note: It’s important to note that all these trades are carried out in compliance with Islamic finance principles, meaning there is no interest (Riba) involved, and the trades are carried out in a manner that is transparent, ethical, and mutually beneficial to all parties involved.

Quotex Tradeable Assets

Trading Platforms

The Quotex Trading Platform offers a range of desirable features to enhance the trading experience. It boasts a user-friendly interface that simplifies navigation for both newbies and experienced traders. The platform enables trading across a diverse array of assets such as cryptocurrencies, commodities, indices, and forex. To boost users’ understanding of trading, Quotex provides an array of educational resources that cover trading strategies, market analysis, and risk management. The real-time charts offered on the platform aid traders in making informed decisions based on current market trends. For novice traders, Quotex offers a demo account where users can hone their trading strategies without risking actual money. The platform is also equipped with advanced security protocols to ensure secure transactions. In case of any inquiries or issues, users can rely on Quotex’s 24/7 customer support for assistance.

Mobile App

The Quotex mobile app offers a range of features designed to enhance the trading experience for its users. Its high level of accessibility allows users to trade at their convenience, no matter where they are. With real-time notifications, users are kept informed about market trends and potential trading opportunities. The app replicates the full functionality of the web platform, offering real-time charts, a wide variety of assets, and numerous educational resources to help users make informed trading decisions. Security is a priority, with secure login options such as fingerprint recognition and face ID. The user-friendly design and quick execution of trades make it easy to navigate and timely in seizing trading opportunities. Additionally, the interface is customizable, allowing users to tailor it to their preferences, further enhancing the user-friendly experience.

Quotex Mobile App

Quotex Deposit Options

  • Debit or Credit Card: Quotex accepts deposits through all major credit and debit cards. The process is instant, and the funds are immediately credited to your trading account. The platform does not charge any fee for this deposit option.
  • Bank Wire Transfer: Quotex also allows deposits through bank wire transfers. It usually takes 1-3 business days for the funds to reflect in your trading account. The fees for this deposit option vary based on the bank and country.
  • E-Wallets: The broker accepts deposits from a variety of e-wallets such as PayPal, Skrill, and Neteller. The processing time for these options is instant, and the platform does not charge any fee for this deposit option.
  • Cryptocurrency: Quotex also supports deposits through cryptocurrencies like Bitcoin, Ethereum, and Litecoin. The processing time can vary from a few minutes to an hour, depending on the blockchain network’s congestion. The platform does not charge any fee for this deposit option, but the blockchain network may charge a small fee.
  • Other Local Payment Methods: Quotex also supports various local payment methods based on the user’s country of residence. The processing time and fees for these options can vary.

Note: The Quotex minimum deposit amount varies per account type. The processing times and fees mentioned above are indicative and may vary based on the payment provider’s policies and the user’s country of residence. Users are advised to check the exact details on the Quotex website or contact their customer support for accurate information.

Quotex Deposit & Withdrawal Options

Quotex Withdrawal Options

Quotex offers several withdrawal options to its users for their convenience. These include:

  • Bank Wire Transfer: This is a secure and reliable method of withdrawing funds. However, bank wire transfers can take up to 7 business days and may involve certain fees.
  • Credit/Debit Card: This is a quick and easy method. The withdrawal amount is credited back to the card used for depositing funds. Processing time may take up to 5 business days.
  • E-Wallets: Quotex also allows withdrawals through popular e-wallets such as Skrill, Neteller, etc. E-wallets are usually processed within 24 hours.
  • Cryptocurrencies: Users can also withdraw funds in the form of cryptocurrencies such as Bitcoin, Ethereum, etc. The process may take within 24 hours.

The Quotex minimum withdrawal amount is determined by the method of withdrawal chosen by the user. For instance, the minimum withdrawal amount for bank wire transfers might be higher than for e-wallets. Users need to refer to the platform or customer support for the exact figures. Quotex does not charge any fees for withdrawals. However, users should be aware that their bank or e-wallet service might charge a fee for processing the withdrawal. Therefore, it is advisable to check with the respective service provider about any potential fees.

Please note that all withdrawals are subject to Quotex’s AML and KYC policies, which means users may need to provide identification documents before a withdrawal can be approved.

Is Quotex Halal in Islam?

Quotex broker is halal in Islam as it complies with the principles of Islamic finance. This means that Quotex broker aren’t involved in transactions that are considered haram, such as those involving interest (riba), uncertainty (gharar), and gambling (maysir). It operates under the principle of risk sharing, and cooperation, and ensures that the transactions are backed by assets. Quotex broker also promotes ethical and fair business practices, which aligns with the Islamic values of justice and equality. Therefore, Muslims can use Quotex broker services without violating their religious beliefs.

Quotex Special Features

Quotex Special Features

Quotex offers a range of special features designed to enhance your trading experience. Here is a brief explanation of each:

  • Convenient Trading Interface: Quotex provides a user-friendly and intuitive trading interface that is easy to navigate. This feature allows you to quickly find the information you need and make trades with ease, saving you time and effort.
  • Integrated Signals: This feature provides real-time signals that alert you to potential trading opportunities based on market trends and movements. With integrated signals, you can stay informed about the market and make informed trading decisions.
  • Trading Indicators: Quotex offers a variety of trading indicators that help you analyze market trends and predict future price movements. These indicators can guide your trading strategy, helping you identify when to enter or exit a trade.
  • Perfect Speed: In the fast-paced world of online trading, speed is paramount. Quotex’s platform is designed for perfect speed, ensuring that your trades are executed quickly and efficiently. This feature minimizes the risk of price changes affecting your trades and maximizes your potential for profit.

Overall, these special features give you the tools and information you need to trade effectively and profitably. Whether you’re a beginner or an experienced trader, Quotex’s special features can help you optimize your trading strategy and achieve your financial goals.

Education Resources

  • Video Tutorials: Quotex provides a variety of video tutorials for beginners and experienced traders. These tutorials cover a range of topics, including how to use the platform, trading strategies, and market analysis.
  • eBooks: Offers a selection of eBooks that provide in-depth information about online trading. These resources can be beneficial for those who prefer to learn at their own pace.
  • Webinars: Quotex conducts regular webinars hosted by experienced traders. These webinars provide a platform for users to learn about trading strategies, market trends, and risk management.
  • Blog: A comprehensive resource that covers everything from basic trading concepts to advanced strategies. It also provides up-to-date information on market news and trends.
  • FAQ Section: The FAQ section on the Quotex platform answers common questions about online trading. This is a useful resource for beginners who are just starting.
  • Demo Account: Quotex offers a demo account that allows users to practice trading without risking real money. This is a practical way to apply the knowledge gained from the educational resources.
  • Live Market Analysis: The broker provides live market analysis, which can be a valuable tool for traders looking to make informed decisions.
  • Customer Support: Quotex’s customer support team is available to answer any questions or concerns about the platform. They can also provide additional guidance on how to use the platform’s features.
  • Trading Glossary: The platform provides a comprehensive glossary of trading terms. This can be very useful for beginners who are unfamiliar with certain jargon.
  • Community Forum: Quotex has a community forum where traders can connect, share strategies, discuss market trends, and learn from each other.

Quotex

Is Quotex legal?

Quotex is a legal online broker that provides a platform for trading binary options. It is licensed and regulated, ensuring the safety and security of its users’ funds and transactions. The platform offers a variety of financial instruments to trade, including stocks, indices, commodities, and cryptocurrencies. Quotex also provides educational resources for beginner traders and advanced tools for experienced ones. It is known for its user-friendly interface, excellent customer service, and competitive payout rates, making it a reliable choice for both new and seasoned traders.

Quotex Islamic Account Review – Conclusion

In conclusion, the Quotex Islamic Account is a commendable financial solution that adheres to the principles of Islamic finance. It eliminates the concept of Riba (interest) in transactions and offers a swap-free trading option, which is in line with the Sharia law. This account type is designed to provide Muslim traders with an opportunity to participate in the financial markets while ensuring compliance with their religious beliefs. However, it’s essential for potential users to thoroughly understand the terms and conditions associated with this account, including potential fees or charges, before choosing to trade with a Quotex Islamic Account. Notably, while it caters to the needs of Muslim traders, it also maintains the competitive edge of the platform, offering the same high-quality trading experience as other account types.