Quotex Review 2026: Blocked Withdrawals and Regulatory Warnings

Quotex operates as an unregulated platform out of St. Vincent and the Grenadines, currently holding a very low WikiFX score of 1.53. Real user complaints—including direct reports from Indian traders—show a consistent pattern of blocked profits, missing deposits, and suspended accounts. Before trusting this platform, Indian traders should strictly review the available evidence and regulatory warnings.

In this Quotex review, the main question for anyone considering a deposit is whether the platforms claims align with actual user experiences. While online trading is popular, verifying a broker before transferring funds is critical.

Regulation and Safety

The available regulation details show that Quotex (also listed in official warnings as Maxbit LLC or Awesomo Ltd) is not overseen by any recognized financial authority. It was established in 2020 and is registered offshore in St. Vincent. Furthermore, WikiFX information indicates three major regulatory warnings:

• Indonesia (BAPPEBTI): Blocked site access, classifying it alongside unauthorized binary options and gambling operations.
• Portugal (CMVM): Issued an alert emphasizing that the entity is unauthorized to carry out any financial intermediation activities in Portugal.
• Malaysia (SCM): Placed the entity on the investor alert list for engaging in unlicensed capital market activities.

For Indian traders, the lack of recognized oversight means there is no local legal protection or ombudsman to step in if funds vanish.

WikiFX Score and Risk Signals

Quotex holds a WikiFX score of 1.53. This low rating reflects the lack of valid licenses and the high volume of negative feedback—WikiFX recorded 13 complaints against this entity in just a three-month window. These visible risk signals are critical to understand before a trader deposits money.

Platform Access and Login Safety

Before entering credentials into any Quotex login page, users should be aware of severe account-access complaints. Multiple traders report that after making successful trades, their accounts were suddenly suspended or blocked entirely. One Indian trader reported growing their balance to $43,000, only to face an immediate account suspension with no clear reason given during the withdrawal stage, leaving them permanently locked out.

Trader Complaints and Exposure Cases

The complaint history paints a troubling picture. For anyone comparing Forex and general trading alternatives, the operational red flags found in the exposure cases are severe:

• Missing INR Deposits: An Indian user deposited INR 4,709 via a localized QR code. The funds were instantly debited from their bank but never reached their trading account, and support stopped responding.

• Blocked Withdrawals: Traders from Colombia and Argentina report withdrawal rejections citing “incorrect account numbers” or “bonus abuse,” even when their banking data was entered perfectly.
• Account Suspensions After Profit: Users report that the platform allows deposits and losses, but immediately flags or restricts accounts when significant profits are made.
• Tax/Fee Demands: One report mentions being asked to pay a “tax” before being allowed to withdraw accumulating funds—a classic risk signal in online trading structures.
• Withheld Affiliate Commissions: A user reported that over $24,000 in earned affiliate commissions was withheld without a valid reason, prompting them to file an international fraud report.

Deposits, Withdrawals, and Support

While customer service lists an email (`support@quotex.io`) and social media channels, users consistently claim support goes completely silent during financial disputes. The platform's apparent failure to process successful QR code deposits from Indian bank accounts and standard asset transfers highlights a severe operational risk.

Final Verdict: Should Indian Traders Trust Quotex?

Based on the available evidence, Quotex represents a high risk for Indian retail traders. The combination of an unregulated offshore status, official warnings from three different national regulators, and repeated user allegations of blocked withdrawals and missing deposits creates an unsafe environment. The available data suggests that risking capital with this platform is highly speculative.

Status changes daily. Before depositing, check the WikiFX App for the latest real-time certificate and broker risk updates.