Contemplating Investments in Quotex? Abandon Your Plan Before You Lose All Your Funds

Have you received calls from Quotex executives claiming to offer you returns of over 50% per month? Do you face both deposit and withdrawal issues at this company? Or have you faced a complete scam trading with this forex broker? You are not alone! Many have faced these problems with Quotex. In this piece, we will share details of its wrongdoings. Please read them carefully to maintain a safe distance from this and many more scam forex brokers.

Its Never Safe with Quotex - An Unregulated Forex Broker

The thing that sends jitters for investors is the lack of regulation for this Saint Vincent and the Grenadines-based forex broker. Operating without a valid regulatory license allows it to escape necessary disclosures to the regulator. These disclosures revolve around forex plans, potential risks, the operational setup and changes, beyond many other critical aspects. Partnering with this forex broker invites scams involving colossal fund losses.

Deposits Fail to Show in Your Trading Account

Strange, but true! The amount goes out of the wallet account but wont show in the trading account for many days. This is a very unique problem. Check out the customer complaint to understand the issue even better.

Illegitimate Account Closure

Investors also experience illegitimate account closures by Quotex officials despite some funds in them. Closing a dormant account with no balance and no trading history for an extended period still makes sense. But not when someone already has some amount in it. However, the officials here do and dont allow those accounts to open. A clear case of a forex investment scam. Check out the screenshot below, entailing pain and frustration from the investor.

Chat Apps Used to Defraud Investors

In today‘s digital age, fake forex brokers like Quotex tap into the increasingly used chat apps to invite people to join a group. A lot of forex traders join the group when lured by significant returns. However, they don’t hold true in many cases. Here is a customer who invested a heavy sum and faced a loss after she joined a chat group. Read her words to know what she went through.

What Does WikiFX Think of Quotex?

WikiFX, your go-to app for forex broker regulation enquiry, stands by the pain and sufferings its investors have gone through. The broker does not merit customer support in the first place. Its not licensed, posing massive investment fraud risks for forex traders. Based on several parameters, our team has assigned it a score of 1.50 out of 10.

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