Experts published a QUOTEX Philippines review
At this time in the Philippines Forex trading is becoming extremely popular. There are a lot of brokers from all around the world. In their article Traders Union experts told about one of the most popular brokers and its features.
QUOTEX Philippines – general information
QUOTEX Philippines is one of the most popular brokers in the country. A review by TU experts provides an insight into the broker’s pros, cons, and features.
QUOTEX Philippines offers trading on a proprietary web platform and in a mobile application. Two account types are possible: Demo and Live. The minimum deposit is $10, minimum order is $1. The broker provides a variety of tradable assets, including currency pairs, commodities, cryptocurrencies, and indices. QUOTEX Philippines offers different bonuses for both beginners and experienced traders: deposit bonus, risk-free trade, and promo codes.
Is QUOTEX a Philippine company?
QUOTEX is not a Philippine company. Actually, QUOTEX is a brand name of Awesomo Ltd, a company based in the Seychelles. Although the broker is not a Philippine company, it is available to clients in the Philippines, providing them with a range of trading opportunities through its web-based platform and mobile trading app.
Is QUOTEX registered in the Philippines?
QUOTEX is not a Philippine company. That is why the broker is not registered with the Securities and Exchange Commission of the Philippines. However, the platform is regulated by the International Financial Market Relations Regulation Center (IFMRRC), which provides clients with the assurance that the platform operates in a legitimate and trustworthy manner.
QUOTEX Philippines: pros and cons
Pros:
- Low initial deposit. This makes trading accessible for everyone.
- Small minimum trade size. This allows for risk management.
- High potential gain. In case of success you can gain up to 95% per trade.
- Demo account. Unlimited use of a demo account helps to practice and devise trading strategies.
- High deposit bonuses. Deposit bonuses ranging from 20% to 35% motive=ate beginners to start trading.
- No withdrawal fees. Moreover, the withdrawal processing is very fast.
Cons:
- No leveraged investing available This may restrict market access.
- No iOS app available. However the website is mobile-friendly.
Is QUOTEX legal in the Philippines? Is it safe?
Trading with QUOTEX is legal in the Philippines. QUOTEX is based in Seychelles and is regulated by IFMRRC. This means the broker is trustworthy and reliable. The license number for the company is TSRF RU 0395 AA V0161, and the official company number is 226716.
The platform uses SSL encryption and 2-factor authentication to protect users’ data. QUOTEX provides regulated payment methods, ensuring that traders’ funds are safe and secure. Moreover, the platform offers negative balance protection.
QUOTEX Philippines – fees
QUOTEX charges no deposit, transaction, or withdrawal fees. In addition, there is no inactivity fee for users who do not trade frequently. The only fee that QUOTEX charges is the spread fee, which varies based on the asset being traded and the time frame selected.
Payment methods
To deposit funds into a QUOTEX account, users have several payment methods available. First of all, the broker accepts various local banks, such as RCBC Online Banking, Maybank, Unionbank, BPI, PSBank, and e-wallets such as GCash, GrabPay, and Coins.ph. QUOTEX accepts bank cards and cryptocurrencies as deposit methods.
As you see, QUOTEX is a trustworthy and reliable broker. Although it is not registered in the Philippines, it is regulated by IFMRRC. This means that the platform operates in a legitimate and trustworthy manner. You can read more about QUOTEX on the Traders Union website. The experts analyze the market every day. They post only the latest information about brokers.
