Summary
Quotex offers binary options through a company in St Kitts and Nevis that holds no financial licence and gives no company number, while regulators have named three other companies as its operators. Clients have no regulatory protection for their money. No fines were found, but regulators in Italy and Brazil have ordered its offers stopped and its sites blocked.
- Grade
- C
- Score
- 22/100
- Fieldwork
- 8 Oct 2026 to 9 Oct 2026
- Findings
- 3 high4 medium1 strength
Scorecard
| Pillar | Weight | Score | Grade |
|---|---|---|---|
| Regulation & Licensing | 19% | C | |
| Corporate Structure & Ownership | 14% | C | |
| Client Money & Payouts | 19% | C | |
| Execution & Pricing | n/a | ||
| Conduct & Disclosure | 14% | A | |
| Operational Resilience | n/a | ||
| People & Community | 5% | C | |
| Overall | 71% | 22 | C |
The overall score is the weighted average of the assessed pillars, with their weights scaled back up to 100.
This grade summarises the evidence we reviewed up to 9 October 2026. It is not a guarantee of the firm's safety or future conduct, and changes after that date are not reflected. Nothing here is financial or legal advice.
Findings
Regulation & Licensing
5/100No Quotex company holds a licence from any financial regulator, and the firm claims none. Its website’s regulations section lists only the firm’s own documents.
- HighNo licence for any Quotex company was found, and none is claimed. The website names ON SPOT GROUP LLC of Charlestown, St Kitts and Nevis, as operator and domain owner, without a company number.
Corporate Structure & Ownership
25/100Quotex names ON SPOT GROUP LLC, inconsistently and without a company number, and discloses no owner. Regulators have named Maxbit LLC of St Vincent, Awesomo Ltd and QUOTEX LTD as companies behind the brand, and the firm does not explain how they are related.
- HighThe website footer names “ON SPOT GROUP LLC” and the service agreement “ON SPOT LLC GROUP”, with no company number. Brazil’s CVM (2025) and Poland’s KNF name Maxbit LLC as using the Quotex brand, Portugal’s CMVM (2023) names Maxbit LLC and Awesomo Ltd, and Spain’s CNMV (2021) names QUOTEX LTD.
- MediumNo owner, parent company, director or audited accounts were found for any Quotex company.
Client Money & Payouts
10/100Clients’ money is held by a company no financial regulator supervises. Quotex’s documents contain no statement on segregation or negative balance protection, and its terms let it block accounts indefinitely on suspicion of fraud and make its own server logs prevail in disputes.
- HighNo regulator supervises how Quotex holds client money, no compensation scheme applies, and no statement on segregated accounts or negative balance protection was found in its service agreement, trading rules, payment policy or risk disclosure.
- MediumThe payment policy allows the company to “block the Client’s Account to an undefined term” where it suspects fraud, and the service agreement states that its own log entries “shall prevail in comparison with any other available evidence”.
Execution & Pricing
Not assessed in a desk audit. Spreads, slippage and fill quality can only be measured with live accounts.
Conduct & Disclosure
65/100No fines, settlements or court judgments were found. Italy’s CONSOB blocked Quotex websites in 2021 and Brazil’s CVM ordered Maxbit LLC to stop offering its services in 2025; both are orders to stop, not penalties. A Polish criminal investigation was discontinued in 2023.
- MediumOn 23 December 2021 CONSOB ordered the blocking of quotex.io and quotex.com, operated by Maxbit LLC, for offering unauthorised services in Italy.
- MediumOn 5 December 2025 the CVM ordered Maxbit LLC, using the Quotex brand, to stop offering securities intermediation services in Brazil (Ato Declaratório 24.483), with a daily fine for non-compliance.
- StrengthA criminal investigation in Poland, following a KNF notification concerning Maxbit LLC operating through Quotex, was discontinued by the Regional Prosecutor’s Office in Warsaw; the decision became final on 19 July 2023.
- ObservationQuotex has been named as unauthorised by regulators in Spain (2021), Portugal (2023), Malaysia (2021), Ukraine (2024) and India (RBI Alert List), and Indonesia’s Bappebti blocked Quotex domains and its app in 2021 to 2023. Under our methodology these warnings are recorded but not scored.
- ObservationQuotex describes its product as a binary option, with a fixed payment if the prediction is right and nothing if it is wrong. The EU has prohibited binary options for retail clients since 2018 and the UK since 2019.
Operational Resilience
Not assessed in a desk audit. Uptime, incident history and security controls require evidence from the firm or live monitoring.
People & Community
0/100No Great Place to Work certification and no community programme were found in public sources.
- ObservationNo Great Place to Work certification or community programme was found in public sources.
Licences verified
Each licence was checked directly against the regulator's public register on the date shown.
| Entity | Regulator | Licence | Checked | Result |
|---|
Notes and sources
Sources
- Quotex: service agreement
- Quotex: payment policy
- Quotex: rules of trading operations
- CONSOB: press release of 23 December 2021
- CVM: alert on Maxbit LLC (5 December 2025)
- KNF: public warnings, Maxbit LLC
- CMVM warning on Quotex/Maxbit LLC and Quotex/Awesomo Ltd (copy published by Finanstilsynet)
- CNMV: warnings search, Quotex
- Reserve Bank of India: Alert List
- ESMA Decision (EU) 2018/795 on binary options
Evidence and scope
Scope
Desk audit of the brand’s client-facing entities, using public sources only: regulator registers, warnings and sanction records, and the firm’s own published documents, as available on 9 October 2026. No accounts were opened, nothing was tested live, and the firm was not asked for evidence. No licence was found to verify against a register.
Limitations
Absence of a public enforcement record is not evidence of good conduct. The company registries of St Kitts and Nevis and St Vincent could not be searched, so the companies named could not be verified. CMVM’s warning was read from a copy republished by Norway’s Finanstilsynet, as CMVM’s own page did not load. Quotex’s about page is unavailable from Cyprus, and the Bank of Russia’s warning list could not be searched.
Evidence reviewed
- CONSOB press release, 23 December 2021
- CVM alert and stop order on Maxbit LLC, 5 December 2025
- KNF public warnings register (Maxbit LLC)
- CMVM and CNMV warnings
- Quotex service agreement, trading rules, payment policy and website disclosures
Version history
- Report published.
Request a re-audit
Staff of Quotex can ask us to reopen this audit, for example after correcting a finding or completing remediation. Requests must come from a company email address, and you can attach evidence.
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