Binary options trading has gained significant popularity in the world of financial markets, and QUOTEX has risen as a popular choice in this market.
Traders Union, a reputable source for broker reviews, acknowledges QUOTEX as a top-ranking broker.
Here, we go into Quotex’s trading conditions, user satisfaction, and the potential impact on international traders.
Understanding Binary Options
Binary options are financial instruments that provide traders with a simple yet powerful way to foresee the price movements of various assets.
Unlike traditional trading methods, binary options offer a fixed return on investment if the trader accurately predicts the direction of the asset’s price within a specified time frame.
The term “binary” refers to two possible outcomes – either a profit or a complete loss of the invested amount.
How Binary Options Work
Simply put, binary options trading involves predicting whether the price of an asset will rise or fall within a predefined period.
Traders are not required to own the asset but instead make predictions based on the asset’s future price movements.
To add, the two primary types of binary options are a Call Option (Up/High) and a Put Option (Down/Low). Traders opt for a call option when they anticipate an increase in the asset’s price and a put option when predicting a decrease.
Next, it is important to note that the strike price is the predetermined price at which the binary option can be used, while the expiry time is the specified duration within which the trader must predict the asset’s price movement.
And lastly, the payout percentage represents the fixed profit that traders receive if their prediction is correct.
Advantages and Risks of Binary Options Trading
Binary options offer simplicity, making them suitable for new and experienced traders. The limited risk factor allows traders to know the potential loss or gain before entering a trade, providing transparency in risk management.
Accessibility is a significant advantage, as binary options trading platforms are accessible online, allowing traders to participate from anywhere with an internet connection, even from countries such as Bangladesh.
Additionally, binary options cover a wide range of assets, including currencies, commodities, stocks, and indices, offering diverse trading opportunities.
Despite its advantages, binary options trading presents certain considerations and risks. The lack of regulation in the binary options market requires caution in selecting reliable brokers.
The short-term nature of binary options demands quick decision-making, exposing traders to market volatility.
Selecting a reputable and regulated binary options broker is important to protect investments and ensure fair trading practices.
A Reputable Binary Options Broker
QUOTEX, established in 2019, is a non-regulated binary options broker offering a proprietary trading platform.
Traders Union ranks Quotex 2nd among 21 companies as it stands out for its user-friendly platform, supporting various trading instruments such as currencies, metals, oil, cryptocurrencies, and stock indices.
Trading Features and Conditions
The broker allows traders to start trading with a minimum investment of USD 10, presenting an affordable entry point for those new to the market.
QUOTEX does not charge additional commissions, and its proprietary platform supports 29 technical indicators, ensuring a customizable and versatile trading experience.
To add to that, QUOTEX boasts several advantages, including a low minimum investment, the absence of trading fees, and a user-friendly trading platform tailored for binary options trading.
However, it is important to note some drawbacks, such as the lack of regulatory licenses and a dearth of quality education resources on their website.
Analysis from Traders Union
A financial expert at Traders Union, provides an in-depth analysis of QUOTEX’s offerings, emphasizing the broker’s simplicity and functionality.
The dynamics of QUOTEX’s popularity among Traders Union’s users, as indicated by 2023 data, showcase consistent user engagement and interest throughout the year.
In Trader Union’s article, QUOTEX’s investment programs and trading conditions are also explored, highlighting the disallowing of the use of automated systems and the availability of a Partnership program for passive income.
The broker’s affiliate program is detailed, revealing attractive rewards for partners and significant participation.
QUOTEX has gained traction globally, with traders from various regions such as Bangladesh participating in its platform.
The geographic distribution reveals a diverse user base, with notable percentages in countries such as India, Mexico, Algeria, Serbia, Nigeria, and Saudi Arabia.
Quotex in Bangladesh
As the world of binary options trading continues to expand, Bangladesh has become a central point for traders seeking new and innovative platforms.
QUOTEX provides a smooth trading experience with its exclusive web and mobile applications. Traders in Bangladesh can access different account types, including Demo and Live accounts, denominated in various currencies such as USD, EUR, GBP, and more.
While it may not fall under the view of investor compensation laws, the platform is considered safe for trading.
If you are interested to know more about Quotex in Bangladesh, read more about this topic in Trader’s Union’s article where they go into detail about the broker.
Legal Considerations for QUOTEX in Bangladesh
While QUOTEX is not a Bangladeshi company, it is owned by Awesomo Ltd based in Seychelles. The platform is registered in Bangladesh, providing a sense of safety for traders.
However, potential clients should be aware that QUOTEX is also registered in St. Vincent and Grenadines, an offshore tax haven.
This lack of regulation by trustworthy financial authorities raises concerns about compensation in the event of broker bankruptcy.
Despite being registered in Bangladesh, QUOTEX has faced warnings from financial regulators in Europe, including CMVM (Portugal), CNMV (Spain), and CONSOB (Italy).
These warnings highlight the importance of caution, even though trading with QUOTEX is legal in Bangladesh.
Fees and Payment Methods for Bangladeshi Traders
Trading with QUOTEX is appealing for Bangladeshi traders as it has no commission for trades and no deposit or withdrawal fees.
However, it’s essential to note that banks and payment systems may impose a transfer fee ranging from 1-5%, as indicated on the platform’s website. Traders should factor in these costs when deciding to invest in QUOTEX.
Depositing Bangladesh is a straightforward process on QUOTEX, involving choosing a deposit method, entering the deposit amount, choosing a bonus, providing payment details, and finalizing the deposit.
The platform offers various payment methods, including bank transfers, cryptocurrencies, online transfers, and debit/credit cards.
QUOTEX is declared an attractive option for binary options trading in Bangladesh, offering a user-friendly platform, a range of tradable instruments, and a secure trading environment.
Traders must, however, be aware of the offshore registration and lack of regulation by recognized financial authorities.
As Bangladeshi traders explore the opportunities presented by QUOTEX, careful research remains needed to explore the world of binary options.
The author of this article, Thomas Wettermann, is an experienced writer and contributor to the trade union website.