Quotex Deposit: Limits, Methods, Fees and Common Problems

Quotex is a popular binary options broker in emerging countries like India, Pakistan or South Africa and currently has over 29 million real money traders worldwide. The popularity is partly due to its user-friendly platform and easy account funding process.

Depositing money on Quotex is simple, the broker offers many local payment methods, a low minimum deposit limit and deposit issues are generally rare.

If you want to make your first Quotex deposit, but you are not sure which payment method to choose, what are the different deposit limits, how much time it takes to fund your account or you simply experience issues during the deposit process, we will answer all your questions in this article.

However, before you make a deposit to your Quotex trading account, we have to warn you that Quotex is an unregulated broker with a pretty bad reputation. As we explained in our broker review, we consider Quotex a scam and we don't think that your money is safe with them.  

How to Deposit Funds on Quotex?

Depositing money on your Quotex account is easier compared to other binary options brokers because it lets you deposit funds after signing up even if your KYC and account verification is incomplete.

To learn how to deposit your money properly, follow the simplified steps below:

Step 1:

Go to the “Trade Execution Window” of the trading platform.

Step 2:

Click on the green “Deposit” button on the top right corner of your screen. You can also open the “Account” Window from the menu bar on your left screen, then click on “Deposit”.

Step 3: 

Choose your payment method. Methods like Visa and Mastercard require these KYC and account verification before depositing, so to them, choose crypto wallets or e-payment systems for your deposit.

Important: Your chosen deposit method will also be the only method you can use for withdrawals.

Step 4: 

Double check if your chosen currency matches the currency of your account.

Step 5: 

Enter your desired amount.

Step 6: 

If you have a promo code, click the “I have a promo code” button and input the code.

Step 7: 

Input the necessary details, like account number and contact number for online banking.

Step 8: 

For e-payments, like Perfect Money, you will be redirected to the website for the next steps.

Step 9: 

Hit the “Deposit” button and wait for the confirmation.

Step 10: 

To confirm if your deposit request is being processed, go to "Transactions" from the “Account” window.

Deposit Methods

Quotex supports a wide range of international and local deposit methods, this includes blue-chip cryptocurrencies, popular e-payment systems, major local banks, and debit/credit cards. You typically won’t run out of options which payment channels you prefer.

Here’s a list of popular deposit methods available on Quotex:

Cryptocurrencies

• Bitcoin
• Binance Pay
• Polygon
• Ethereum
• Dogecoin
• Solana

Debit/Credit cards

• Visa
• Mastercard
• ATM Bank Transfers

Electronic Payment

• GCash
• Perfect Money
• Shopee
• OVO
• NetWallet

Online Banking

• India IMPS
• South African Banks
• Other Local Banks
• Virtual Banks
• Peer-to-peer (P2P) Banking
• Instant EFT (Electronic Fund Transfer)

For South African traders, here are the popular deposit methods available in your country:

Cryptocurrencies

• Bitcoin
• Binance Pay
• Polygon
• Ethereum
• Dogecoin
• Solana

Debit/Credit cards

• Visa
• Mastercard

Electronic Payments

• Perfect Money

Online Banking

• South African Banks
• Instant EFT

Minimum Deposit

The minimum deposit on most payment methods on Quotex is $10 (or its equivalent on other currencies), however, some methods, like cryptos or other banks may require higher minimum deposit.

Here’s the current minimum deposits on widely used deposit methods on Quotex:

Note that the minimum deposit amounts are applicable in South Africa, other globally used methods, like most cryptocurrencies may have different minimum deposit amounts in your location. For example, the minimum deposit for Bitcoin and Ethererum in Brazil is only $10. Meanwhile, in Indonesia and Vietnam, the minimum deposit is $50 for Bitcoin and $10 for Ethereum.

Deposit Time

Quotex deposit processing time in most payment methods are within minutes only, and even instant if you use a reliable payment method like cryptocurrencies, Perfect Money, or Instant EFTs. However, online banking, ATM deposits, and over-the-counters may take up to 24 hours.

If you want your deposit transactions to run seamlessly in the future, we suggest you verify your account immediately. That way, you will have more payment options, where you can choose which have the shortest processing time. Avoid using bank transfers, over-the-counters, or ATM deposits as they take longer. Payment methods that are usually quicker are Bitcoin, altcoin, Binance Pay, and some E-payment systems like Perfect Money.

Deposit Limits

The maximum deposit limits on Quotex vary on different payment methods and your location, ranging around $1,000 - $50,000. Bitcoin and most altcoins support up to $50,000 deposit limit, while limit amounts on online banks are usually lower. However, Perfect Money, a popular method in Quotex supports a maximum limit of $1,000,000.

To understand the specific deposit limits, here’s a list of popular deposit methods and their limit amounts in South Africa.

Note that the deposit limits above are applicable in South Africa, other globally used methods, like most cryptocurrencies, and domestic banks may have different minimum deposit amounts in your location. Here are the deposit limits of widely used transfer methods in Quotex on other countries.

Visa/Mastercard

• Philippines: $489
• Pakistan: $489
• Turkey: $489
• Mexico: $1,000

Bitcoin

• Brazil: $50,000
• Philippines: $50,000
• Pakistan: $1,000,000
• Turkey: $50,000
• Indonesia: $1,000,000
• Vietnam: $1,000,000
• Mexico: $1,000,000
• India: $50,000

Banks

• Philippines: $8,948 (online banking), $17,897 (Over-the-counter & ATMs)
• Turkey: $588
• Indonesia: $1,624 (Bank Central Asia), $6,503 (online bank transfers), $1,000,000 (ATM bank transfer and virtual bank account transfers)
• Vietnam: $12,223
• Mexico: $3,000
• India: $21,978 (India IMPS)

Deposit Fees

Quotex does not charge any fees for deposits on most payment methods. Although your bank or credit card as a transfer method may charge 1-5% fees, so we suggest double checking with your bank to avoid fees. You can also choose crypto as payment methods because they work well and quickly with Quotex.

If you use a payment method with a different currency than your Quotex account, such as banks and e-wallets, conversion fees may also apply. Expect that conversion rates slightly differ on each method.

Quotex Welcome Bonus

Quotex offers a welcome bonus for new clients depending on their deposit amount. You can use the bonus for trading in the platform but you can’t withdraw it. Usually, the broker offers a bonus around 30% when your initial deposit is $100, but the promos change every time. Here’s the current first deposit bonuses on Quotex and how to qualify:

Deposit Proof: Can I Trust Quotex With My Money?

Trusting Quotex with your money is questionable because it is not regulated, but at the same time, it is a widely used binary options broker. Your deposit will go through instantly in most payment methods, such as Perfect Money or Binance, but it may take 1-3 minutes sometimes, like in the case below.

Common Deposit Problems

Quotex users do not usually encounter deposit problems (unlike with withdrawals!), but if you do, the Quotex customer service is unsatisfying and may leave your concern unresolved. So to make sure your deposit transfers run smoothly, here are some of the deposit problems you might encounter and how to solve them:

Delayed Deposit Processing Time

Delayed processing time is the most common deposit problem you might encounter in Quotex. Although these delays are minor and are usually caused by slow payment processing time or high transaction volume the time you made the deposit.

Most delays are only around 1-3 minutes, so we suggest you wait. To avoid deposit delays, use reliable payment methods like Binance Pay, Perfect Money, or any supported cryptocurrencies.

Deposit Amount Not Showing on the Account

Although rare, some deposits may not show on your account after the expected processing time. In some cases, the deposit will reflect on the transaction history but the deposit amount is not added to your total funds on the account. This is common for depositing via Unified Payment Interface (UPI).

Quotex supports multiple payment methods, but some of them are not reliable. So we suggest avoiding UPI’s, credit cards, and virtual bank accounts as payments. Choose deposit methods with faster processing time and have a good relationship with Quotex like Bitcoin, Perfect Money, and altcoins. You can also use online banks with faster processing times, as long as Quotex is not explicitly banned in your country.

Declined Deposit Requests

Usually, a declined deposit request only happens if your account verification and KYC is incomplete since some deposit methods, like Visa or Mastercard, require a verified account first. This may also occur due to technical glitches, but it will not affect your real money since the process didn’t go through, simply try to make a deposit later. Also check if you exceeded your deposit limit for the day or you haven’t met the minimum deposit amount.

To avoid this inconvenience, verify your account, and make sure your deposit method is supported and the details you input are correct.

Conclusion

Overall, deposit transactions on Quotex are quick and they don't have alarming issues as long as you are verified and you chose the reliable methods, but you may encounter major problems during withdrawals. Quotex is an unregulated offshore broker, which means that there are no strong authorities that regulate the company operations. Their policies can change without you knowing, and the dispute resolution of their customer service is poor. So there’s a chance you will not get your profits at all since your funds are not protected by any regulatory authorities.

Therefore, we advise you to choose a more trustworthy broker like Olymp Trade or Exness because you can benefit from the same quick withdrawals, deposits, and multiple payment options, while also having a safer and more reliable trading platform.