Quotex Islamic Accounts

Quotex Islamic Review

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 any interest or swap while trading on this platform. Hence the traders consider Quotex is 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 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.

Limitations on payment methods may affect traders in the United States, Canada, Hong Kong, and Germany, but they can still deposit using cryptocurrencies.

Quotex Islamic Review – The Platform

Quotex is a trading platform that offers a wide range of services to its customers. It is a popular choice for traders seeking a reliable and secure trading platform. But one of the most important questions that traders have is whether Quotex trading is halal or not. In this article, we will take a look at the Quotex broker review and answer the question of whether Quotex trading is halal or not. Quotex broker is a platform for trading digital options on various underlying assets (over 400). The term digital options refer to trades based on general up and down price movements, including predetermined costs and fixed results.

The platform supports trading of some index options like Securities (Company), Forex, Commodity, and S&P 500.

Expiration periods of 1 minute, 2 minutes, 5 minutes, one hour, and in some cases a month or more are fairly varied.

Payouts

The percentage of payments varies based on the property and time frame.

Returns will also vary on existing trade data, for example, if a large proportion of traders assume the same, the payoff for a new position is likely to be lower – on the contrary, those who take the opposite view will see higher than expected% payments.

Education

The best way to learn the system is to use a demo account (more on that below). In addition, Quotex Guide provides videos and market news.

Trading signals are also offered, but these are only available on the full account – they cannot be accessed in the demo version.

Quotex Islamic Review – Mobile Trading App

In addition to the desktop trading platform, Quotex also provides an Android-based trading app.

The app is fast, responsive and user friendly. It provides all the functionality of the web version and follows the same process of finding the market and setting up the business.

The app has been reasonably well received by traders with an overall rating of 3.6 *

One of the flaws in the current mobile offer is the lack of an iOS version for iPhone / iPad users.

Quotex Islamic Review – Demo account

Quotex provides a demo account with 10,000 USD in tradable funds. The free demo account allows full access to trading features but restricts access to news, trading tips and other proprietary information.

Deposit, Withdrawal, And Bonuses

The minimum deposit in Quotex is only $ 10 and can be made in dollars, euros, pounds, and even bitcoin.

Deposits can be made by eWallet, credit card, wire transfer, or cryptocurrency, usually available within minutes of the deposit. eWallet options include AdvCash and Perfect Money. Withdrawals are returned to the same source until the secondary source is verified. There is no charge for withdrawal or deposit, but in some cases, fees unrelated to the platform may be charged.

Is Quotex Trading Halal?

The answer to this question depends on the type of trading that is being done. Quotex offers a variety of trading instruments, including Forex, CFDs, stocks, indices, commodities, and cryptocurrencies. All of these instruments are permissible under Islamic law as long as they are traded in a halal manner.

For example, Forex trading and Option trading is permissible under Islamic law as long as it is done in a halal manner. This means that traders must ensure they are not trading with interest-bearing accounts. Quotex trading platform does not apply any interest on the accounts.

Quotex Islamic Review – Customer Support

Quotex Traders can contact support directly through the platform interface by submitting a ticket or using the live chat option. Traders can email an online form or support@quotex.io hosted on the firm’s website.

The broker registered address is Awesomo Limited, Republic of Seychelles, The Mahe Island, Victoria City, Francis Rachel Street, Sound & Vision House, 2nd Floor, Office 1.

Quotex Islamic Review – Security

The trading company maintains high security standards and uses specialized technology to secure client information. Brokers do not sell or otherwise disclose personal data to third parties.

Quotex Verdict

Quotex is an unusual digital options broker with an easy-to-use web-based platform that offers a signal service and copy trading. The brokerage has a low minimal deposit, zero withdrawal fee and an attractive 42% sign-up bonus. Several traders interested in digital options will be satisfied with the range of resources and simplicity of the interface.

Quotex Islamic Review – Accepted Countries

Quotex Traders can contact support directly through the platform interface by submitting a ticket or using the live chat option. Traders can email an online form or support@quotex.io hosted on the firm’s website.

The broker registered address is Awesomo Limited, Republic of Seychelles, The Mahe Island, Victoria City, Francis Rachel Street, Sound & Vision House, 2nd Floor, Office 1.

Quotex Islamic Review – Security

The trading company maintains high security standards and uses specialized technology to secure client information. Brokers do not sell or otherwise disclose personal data to third parties.

Quotex Verdict

Quotex is a unique digital options broker with an easy-to-use web-based and mobile platform that offers online trading. The company has a low minimal deposit of $10, zero withdrawal fee, and an attractive 30% sign-up bonus. Several traders interested in digital and binary options will be satisfied with the range of trading assets and the simplicity of the trading platform.

Quotex Islamic Review – Accepted Countries

Quotex accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, United States, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and Most other countries.

Profit with Quotex

We doubt it. As an unregulated broker, Quotex cannot guarantee the security of its clients’ funds. And there is a good chance that brokerage will rip you off and make money from you. So, you will stick with licensed brokers – here is a list of brokers regulated in the European Union.

Also, when we went through Quotex’s legal documents we noticed some unusual clauses that were unfavorable to their clients. For example, the broker reserves the right to impose additional charges on withdrawals, determining the minimum withdrawal amount as well as the conversion rate different from the market.

Quotex is a legitimate broker

Quotex is an offshore binary options broker that operates without government supervision. You would rather stick with legitimate forex brokers – here is a list of such regulations in the UK.

Otherwise, Quotex boker claims to be a trading name for Awesomo LTD – a company registered in Seychelles and regulated by the International Financial Market Relations Regulation Center (IFMRRC).

Now, let’s explain what the former means – Seychelles is an offshore area with very relaxed arrangements for Forex and binary options brokers – but Awesomo LTD. Not even licensed by the local financial services authority. And with regard to Quotex’s alleged IFMRRC license, you should know that it is not an official financial regulator, but an anonymous website that provides fake licenses to shady brokers who are likely to engage in fraudulent practices.

This is why we would advise traders to refer themselves to better and more reliable trading partners than Quotex – especially such transactions in Forex. Because regulators around the world are blocking binary options. In the European Union, for example, binary options are outright banned, while in the United States they are only allowed to be traded on US-controlled exchanges.

Trusted authorities such as the Cyprus Securities and Exchange Commission (CySEC) or the Financial Conduct Authority (FCA) in the United Kingdom have a number of licensed Forex brokers licensed. These government agencies have licensing regimes and procedures to ensure overall fairness and transparency in consumer protection and financial markets.

Payouts offered by Quotex?

The trading company maintains high security standards and uses specialized technology to secure client information. Brokers do not sell or otherwise disclose personal data to third parties.

Minimum deposit of Quotex

The broker has set their minimum deposit at $ 10, and this is of course a lower entry threshold. But as already explained, Quotex should avoid a broker, so do not even consider opening an account. And besides, you can open a mini account with a decent forex broker by depositing the same amount or less.

Which payment method does Quotex accept?

Quotex works with credit cards, Skrill, Neteller, Yandex, WebMoney and QIWI. Of these, we consider credit card payments to be the most secure payment option. This is because if you are the victim of a scam, you can file for a periodic chargeback. And the main card network processors VISA and MasterCard will allow you to do this within 540 days after the deposit.

Conclusion

In conclusion, Quotex is halal under Islamic law as long as it is done in a halal manner. This means that traders must ensure that they are not engaging in any form of speculation or gambling. Additionally, traders must ensure that they are not trading with any interest-bearing accounts. Quotex offers a variety of trading instruments, including Forex, CFDs, stocks, indices, commodities, and cryptocurrencies, all of which are permissible under Islamic law as long as they are traded in a halal manner.