Quotex Review: Regulatory Status, Payouts, and Withdrawals for UAE Residents
Affiliate disclosure: BinaryOptionsAE may receive affiliate commissions when readers click outbound broker links and open accounts. Compensation does not influence the regulatory facts, licensing references, or enforcement records cited below. All quantitative claims are sourced from the broker's published disclosures or named regulatory documents where available, and clearly marked as broker statements where independent verification is not possible.
Risk warning: Binary options are speculative products with a high probability of loss. The UAE Capital Market Authority (CMA), which replaced the Securities and Commodities Authority on 1 January 2026 under Federal Decree Laws 32 and 33 of 2025, has not authorised any binary options broker for retail clients. The Dubai Financial Services Authority (DFSA) and the Financial Services Regulatory Authority (FSRA) of ADGM have likewise not authorised any binary options broker for UAE residents. Quotex is one of several offshore platforms that has been the subject of regulator warnings in multiple jurisdictions; this review documents those warnings rather than promoting the broker.
Material regulatory disclosure
Quotex's operating entity is publicly inconsistent across the broker's own marketing, third-party reviews, and regulator notices. Multiple corporate names have been associated with the brand:
- Awesomo Ltd (sometimes Awesomo Limited), variously cited as registered in Seychelles or in St. Vincent and the Grenadines. The Seychelles registration number cited in third-party sources is 221B2023.
- ON SPOT LLC GROUP, registered in St. Kitts and Nevis. This name appears on more recent platform documentation.
- Maxbit LLC, registered in St. Vincent and the Grenadines. This name appears in regulator warnings issued by Italy's CONSOB and Portugal's CMVM.
This pattern of multiple, jurisdictionally separated entity names is common among offshore binary options platforms but creates material uncertainty for clients about which legal entity holds their funds and which (if any) regulator they could approach in a dispute.
No tier-one regulatory authorisation. Quotex is not licensed by the Financial Conduct Authority (FCA) in the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), the U.S. Commodity Futures Trading Commission (CFTC), or the U.S. Securities and Exchange Commission (SEC). It is also not licensed by the UAE Capital Market Authority, the DFSA, or the FSRA.
IFMRRC reference is not a regulator. Older Quotex marketing has cited registration with the International Financial Market Relations Regulation Center (IFMRRC) via Awesomo Limited. According to third-party reporting, that registration expired in 2021. The IFMRRC is a private self-regulatory body, not a recognised government regulator, and is not on the IOSCO membership list. Several broker rating frameworks classify the platform under "no regulators" on this basis.
Documented regulator warnings:
- The Financial Conduct Authority (UK) has placed Quotex on its public Warning List of firms believed to be conducting regulated activity without authorisation in the UK.
- The Comissão do Mercado de Valores Mobiliários (CMVM, Portugal) issued a public warning that Quotex (operated by Maxbit LLC) is not authorised to carry out financial intermediation activities in Portugal.
- The Comisión Nacional del Mercado de Valores (CNMV, Spain) has included Quotex in its public listings of unregulated firms operating without authorisation in the Spanish market.
- The Commissione Nazionale per le Società e la Borsa (CONSOB, Italy) issued a warning against Maxbit LLC for providing investment and financial services without the required authorisations.
- The Financial Commission, a private dispute resolution body, has placed Quotex on a warning list.
Restricted jurisdictions. Quotex states that it does not provide services to residents of the United States, Canada, the European Union and EEA countries, the United Kingdom, Hong Kong, Russia, or Indonesia.
UAE residents trading on Quotex are not covered by any UAE investor compensation scheme. There is no published evidence that the platform holds segregated client accounts under tier-one banking supervision, no published audited financial statements, and no recognised auditor disclosure.
Platform overview
Platform Overview
| Feature | Details |
|---|---|
| Brand launched | 2019/2020 (varies by source) |
| Operating entity (broker-stated, varies) | Awesomo Ltd / ON SPOT LLC GROUP / Maxbit LLC |
| Stated registration jurisdictions | Seychelles, St. Kitts and Nevis, St. Vincent and the Grenadines (varies) |
| Tier-1 regulator authorisations | None |
| Trading platform | Proprietary, web-based |
| Mobile applications | iOS, Android |
| Demo account | Yes, virtual funds (broker-stated $10,000) |
| Minimum deposit | $10 (broker-stated) |
| Trading instruments | Approximately 410+ instruments stated by the broker |
Trading interface
The Quotex platform is a proprietary, browser-based interface with a chart panel, an instrument selector, and an order entry sidebar. Charts include common technical indicators (broker documentation cites nine customisable indicators and fifteen drawing tools). MetaTrader 4 and MetaTrader 5 are not supported. The interface is widely described in third-party reviews as lightweight and beginner-oriented, with the trade-off of fewer advanced features compared with full forex platforms.
Binary options contract structure
Quotex offers fixed-time digital options. The trader selects an instrument, a duration, a stake, and a direction (Up/Down). At expiry, the contract settles to a fixed payout if the directional call is correct, or to zero if it is not. Available expiries range from short intra-minute durations to several minutes or longer, depending on the asset.
Payout structure
Quotex states payouts up to 95% on certain assets, and some marketing materials cite "up to 98%". These figures are broker statements and reflect maximum advertised payouts rather than typical payouts. Third-party testers have observed that displayed payout percentages can vary minute-to-minute on the same instrument, suggesting the platform adjusts return ratios dynamically based on flow and volatility.
The break-even formula for any payout-based binary contract:
break-even win rate = stake / (stake + profit) = 100 / (100 + payout%)
Applied to representative payout levels:
Break-Even Win Rate by Stated Payout
| Stated payout | Required win rate to break even |
|---|---|
| 70% | approximately 58.8% |
| 80% | approximately 55.6% |
| 90% | approximately 52.6% |
| 95% | approximately 51.3% |
A trader paying a 90% payout must win more than 52.6% of trades, before any execution friction, simply to avoid a long-run loss. Dynamic payout adjustment means the displayed rate at order entry may differ from the rate at the moment of execution.
Funding and withdrawals
Stated payment methods
Quotex lists bank cards, several e-wallets, and a range of cryptocurrencies (with USDT commonly cited as the fastest channel). Method availability varies by region. Card and bank-transfer deposits work but are slower than crypto in third-party testing. The platform enforces a "deposit method equals withdrawal method" rule: funds deposited via crypto are typically withdrawn via crypto, and attempts to switch methods at withdrawal trigger additional verification steps.
Documented withdrawal concerns
Independent reviews and complaint sites document recurring patterns: status displayed as "Successful" on the platform while funds do not arrive at the trader's bank, blocked accounts at withdrawal, and unresponsive support for disputed withdrawals. As of early 2026, third-party complaint trackers report a continuing volume of these cases. None of the regulator warning lists referenced above provide a route to resident-protected dispute resolution for UAE residents.
Pre-deposit verification steps
UAE residents considering Quotex should:
- Capture in writing from broker support which corporate entity (Awesomo Ltd, ON SPOT LLC GROUP, Maxbit LLC, or another) will hold the deposit, and in which jurisdiction.
- Review the FCA Warning List, CNMV public listings, and CONSOB warnings before depositing any funds.
- Complete identity verification (KYC) and full account verification before funding the account, to surface any verification issues at the lowest possible cost.
- Test the full withdrawal cycle with a small amount before committing larger capital.
- Document all communications with broker support for any future dispute.
Account types and registration
Quotex offers a Live account, a Pro account (broker-stated tiers based on deposit thresholds), and a free Demo account loaded with virtual funds. Registration is via email or social login. KYC is requested in connection with withdrawals rather than at the deposit stage.
Asset coverage
Quotex covers forex pairs (majors, minors, and several exotics), commodities, stock indices, selected company stocks, and cryptocurrencies. The broker states approximately 410+ tradable instruments. Available instruments and payout ranges vary by region and time of day.
Customer support
Support is offered via live chat and email. Hours are stated as 24/7 by the broker. Independent reviews report variable response times and a higher rate of unresponsiveness on disputed-withdrawal tickets than on general queries.
Strengths and considerations
Documented features:
- Low minimum deposit ($10 broker-stated), low minimum trade size, and a free demo account.
- A clean, beginner-oriented interface that loads quickly in a browser.
- Wide jurisdictional availability outside the restricted list, including the UAE.
- Multiple deposit methods, with cryptocurrency channels generally faster than card/bank.
Considerations:
- No tier-one regulatory authorisation; not licensed by FCA, CySEC, ASIC, CFTC, SEC, the UAE CMA, the DFSA, or the FSRA.
- Multiple regulator warnings (FCA, CMVM, CNMV, CONSOB, Financial Commission) issued against Quotex or its operating entities.
- Inconsistent operating-entity disclosure across broker documentation and regulator notices.
- IFMRRC reference is to a private body whose registration was reported to expire in 2021 and which is not a recognised government regulator.
- Documented withdrawal-friction pattern across third-party complaint trackers.
- No published audited financial statements, no banking-tier disclosure, and no investor compensation scheme.
Frequently asked questions
Is Quotex regulated for UAE residents?
No. The UAE Capital Market Authority, the DFSA, and the FSRA have not authorised Quotex for UAE retail clients. Quotex's stated regulatory references are to offshore registrations (Seychelles, St. Kitts and Nevis, or St. Vincent and the Grenadines depending on the entity cited), and to the IFMRRC, which is a private body rather than a government regulator.
Which corporate entity actually holds Quotex client funds?
Public sources cite Awesomo Ltd, ON SPOT LLC GROUP, and Maxbit LLC inconsistently. UAE residents should request written confirmation from broker support of the exact legal entity holding their account before depositing.
Why have several regulators issued warnings against Quotex?
The FCA, CMVM (Portugal), CNMV (Spain), and CONSOB (Italy) have each issued public notices stating that Quotex or its operating entity is not authorised to provide investment services in their jurisdiction. These notices do not address the platform's status in the UAE.
Does Quotex offer investor compensation?
There is no published investor compensation scheme covering Quotex client funds. The Financial Commission (a private dispute body) has placed Quotex on a warning list rather than offering compensation to its clients.
What is the minimum deposit on Quotex?
The broker-stated minimum is $10. The platform also offers a free demo account with virtual funds.
Does Quotex support MetaTrader 4 or 5?
No. Quotex uses a proprietary web-based platform only.
Are payout percentages on Quotex fixed?
No. Third-party testing reports that Quotex adjusts payout percentages dynamically by asset, time of day, and market conditions. The displayed payout at order entry may differ from the rate at the moment of execution.
Final risk warning
Binary options are speculative products with a high probability of loss. UAE residents trading on Quotex are not protected by any UAE-authorised investor compensation scheme. Multiple non-UAE regulators (FCA, CMVM, CNMV, CONSOB) have issued public warnings against Quotex or its operating entities. The Capital Market Authority, the Dubai Financial Services Authority, and the Financial Services Regulatory Authority have not authorised any binary options broker for UAE retail clients. Capital is at risk and total loss of deposit is a frequent outcome.
Related reading
About the Author
Braden Chase is a trading specialist and former research specialist at Forex.com. He writes about market mechanics, trading instruments, and the regulatory landscape to help readers research financial markets with a clearer understanding of risk. Braden has previously served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Articles are educational analysis and do not constitute investment advice. Binary options are high-risk speculative instruments and are not regulated in the UAE.