Quotex Review for Indian Traders: Fees, Platform and Safety

Quotex operates a web platform and Android and iOS apps. The minimum deposit is $10, and the minimum trade size is $1. The maximum payout advertised is 98%, which is higher than the 90% listed for Stockity and Binomo, and above the 92% for Pocket Option and Exnova.

Indian traders typically fund accounts through UPI, bank transfer, cards, or USDT. UPI deposits usually go through a payment partner rather than the platform itself. Bank transfer means IMPS or NEFT from any Indian bank. Cards are subject to your bank's international transaction limit, and USDT is usually TRC-20 when a card is declined.

Quotex does not publish a licence in any register we read. That is a factual gap, not a rumour. The platform's own page does not name a regulator, and we found no record of one.

For an Indian resident, the practical question is not just whether the platform works, but whether using it fits within the foreign exchange rules the RBI enforces under FEMA. We return to that below.

Quotex trading signals are a common search phrase among Indian users, but the platform itself does not publish a formal signal service in the materials we reviewed. What traders often mean by the term is the charting interface, indicator overlays, and the short expiry times that fixed-time contracts rely on.

The Quotex platform is web-based, with apps for Android and iOS. It is not available on MT4, MT5, or TradingView, unlike Deriv, which lists all three. Pocket Option lists MT4 and MT5 as well.

If you are looking for quotex trading signals, treat any third-party signal seller with caution. A signal that tells you when to enter a fixed-time contract is still a prediction, not a payout guarantee. No signal removes the risk that the trade expires out of the money.

What the platform does offer is a fast order flow and a simple layout. The minimum trade of $1 means you can test the interface with small amounts. But small trade size does not change the legal position for Indian residents, which depends on the RBI's authorisation rules rather than the broker's marketing.

The minimum deposit on Quotex is $10, and the minimum trade is $1. The maximum payout is 98% of the stake on a winning fixed-time contract. That figure is what the platform advertises; individual trades may pay less depending on the asset and expiry.

For comparison, Deriv advertises up to 100%, IQ Option and Olymp Trade up to 95%, and Pocket Option up to 92%. A higher maximum payout does not mean every trade pays that rate, and it does not mean you are more likely to win.

Withdrawal routes in India generally mirror deposit routes: UPI, bank transfer, cards, and USDT. The platform does not publish a withdrawal fee schedule in the materials we hold. What matters more for Indian users is that a withdrawal request can be delayed or blocked if the payment partner or the bank flags the transaction.

Quotex does not publish its payout percentage per asset, so you cannot verify the 98% figure across the board. Treat the advertised maximum as a ceiling, not a promise.

The Reserve Bank of India authorises persons dealing in foreign exchange and the electronic trading platforms they may use, under FEMA. It does not license offshore forex platforms and fixed-time contracts. Quotex does not appear in any register we read, and we found no licence on record for it.

In November 2025, the RBI referred to its own Alert List of entities not authorised to deal in foreign exchange under FEMA or to operate an electronic trading platform. The list held 95 entities as of 19 November 2025, and the RBI states the list is not exhaustive. A resident trading outside permitted purposes or on an unauthorised platform is liable under FEMA.

We do not hold a specific RBI warning naming Quotex. That absence is not the same as authorisation. The RBI's Alert List is explicitly non-exhaustive, which means a platform can be unauthorised without being named on it.

For an Indian resident, the risk is not only the trade itself. Deposits routed through payment partners can be questioned by banks, and the Income Tax Department may treat gains from unauthorised platforms differently from gains on regulated Indian instruments. The National Cyber Crime Reporting Portal is the route for reporting fraud, but regulatory exposure under FEMA is a separate matter.

Quotex sits at rank 4 in our comparison table, behind Stockity, Deriv, and Pocket Option. Its minimum deposit of $10 is higher than Deriv's $5 and Pocket Option's $5, and equal to IQ Option, Olymp Trade, Binomo, Expert Option, and Exnova.

• Deriv: minimum deposit $5, minimum trade $0.35, payouts up to 100%, licences on record from MFSA, Labuan FSA, and VFSC.
• Pocket Option: minimum deposit $5, minimum trade $1, payouts up to 92%, licence on record from MISA (Mwali), with FCA, CONSOB, and CFTC warnings on record.
• Quotex: minimum deposit $10, minimum trade $1, payouts up to 98%, no licence found in any register we read.
• IQ Option: minimum deposit $10, minimum trade $1, payouts up to 95%, CySEC licence on record.

Quotex's 98% maximum payout is attractive on paper, but the absence of any licence on record is a material difference from Deriv and IQ Option. Pocket Option has a licence but also carries warnings from three major regulators. Stockity, our top-ranked partner, has a minimum deposit of $10 and a maximum payout of 90%.

For Indian traders, the comparison that matters most is not between brokers but between any offshore fixed-time platform and the RBI's authorisation framework. No platform in this table is authorised by the RBI for fixed-time contracts.