(Newswire.net — June 14, 2023) —
Quotex Nigeria has been recognized as one of the leading trading platforms in Nigeria by Traders Union, a financial analyst portal. In a recently published article, Traders Union experts highlighted the key features of Quotex Nigeria that set it apart from other trading platforms and make it a preferred choice among Nigerian traders.
This post will summarize the review done by Traders Union experts. Continue reading to learn more.
What is Quotex India?
QUOTEX is a sophisticated online trading platform with over 410 digital options trading instruments. These assets include 27 currency pairings, numerous cryptocurrencies like Litecoin, Bitcoin, Ripple, and Ethereum, 15 main indices like the FTSE 100 and Dow Jones, and popular commodities like gold, silver, and oil. The platform lets traders select from a range of expiry times, from one minute to a month or more, and the payout % for each asset is determined by factors such as asset type, trade timeframe, and the number of traders speculating in the same direction. QUOTEX offers educational materials such as instructional videos, market news updates, and a free sample account to practice trading to help customers gain a better knowledge of the platform.
Quotex Nigeria Review
Traders Union experts highlighted the following key features of Quotex Nigeria. They are;
Ø QUOTEX Nigeria provides clients with a wide range of trading options, including Forex, cryptocurrencies, commodities, and indices.
Ø The site use binary options to speculate on an underlying asset’s price movement, guessing whether the price will fall or rise during a given timeframe.
Ø It also provides access to a large range of trading tools, such as trade alerts, technical indicators, and fast processing capabilities.
Ø QUOTEX also has a mobile app for Android devices that allows clients to trade on the go with a simple and user-friendly design.
Ø The International Financial Market Relations Regulation Center (IFMRRC) regulates QUOTEX, giving clients with the certainty that the platform works in a trustworthy and legitimate manner.
Ø Clients can benefit from a $10 minimum deposit, a joining incentive, and a free test account with $10,000 in virtual cash. The minimum trade value is $1, and clients can pay using different methods, like credit cards, cryptocurrencies, e-wallets, and bank transfers.
Ø Regarding trading assets, QUOTEX provides a selection of popular options, including key Forex pairings like EUR/USD and USD/JPY, commodities like gold and oil, and cryptocurrencies.
Ø The platform provides traders with easily examined charts and graphs, technical tools, and useful indicators to help them comprehend the market and make informed decisions.
Ø The platform also includes customizable frames and a wide selection of indicators to assist traders in analyzing market risks.
Is QUOTEX legal in Nigeria? Is it Safe?
Nigerian citizens can trade stocks and foreign currencies as long as they obey the Central Bank of Nigeria’s rules and regulations. Furthermore, compared to many other nations, Forex trading in Nigeria is not as highly regulated. Trading binary options with QUOTEX and other brokers is thus legal in Nigeria, albeit traders must follow local tax restrictions while earning from Forex and binary options trading. To defend the indigenous currency, the Central Bank of Nigeria has imposed financial limits, requiring traders to keep track of various trading and transaction costs. For example, traders cannot deposit more than $10,000 in a single trade, and withdrawals over $10,000 may be detected and held by local banks until acceptable evidence of the funds’ origin is given.
Concerning QUOTEX’s safety, the broker is situated in Seychelles and is controlled by the International Financial Market Relations Regulation Center (IFMRRC). QUOTEX is concerned about the safety and security of its users’ funds and provides SSL encryption, 2-factor authentication, regulated payment methods, and negative balance protection.
Is Quotex an Indian Company?
QUOTEX is not a Nigerian corporation but a brand name of Awesomo Ltd, situated in Seychelles.
Is Quotex Registered in Nigeria?
Because QUOTEX is not a Nigerian firm, it is not registered with the Nigerian Securities and Exchange Commission. The platform, however, is governed by the International Financial Market Relations Regulation Center (IFMRRC), which ensures that QUOTEX follows specified criteria and regulations designed to protect traders’ interests.
How Do You Make a Deposit in Quotex India?
Binary options traders in Nigeria can deposit and withdraw funds using credit or debit cards issued by local banks with token security. Regrettably, local currency cards cannot be used for online purchases on binary options sites.
Deposits are processed promptly; however, withdrawals may take up to two days. Traders can use e-wallets such as Skrill, Neteller, and Payza, although some limits exist. Skrill withdrawals must be handled in local currency and connected to a local bank account. Only Euros can be withdrawn from an international Skrill account and transferred to a domestic bank account. Bank transfers from local accounts are another payment option for Nigerian binary options traders.
Conclusion
In conclusion, Quotex Nigeria has received well-deserved recognition as one of Nigeria’s top trading platforms by Traders Union. The platform’s user-friendly interface, extensive product offerings, and outstanding customer support make it a go-to destination for traders. Traders Union is confident that Quotex Nigeria will continue to excel and grow in the years to come.