No financial regulator licenses Quotex anywhere in this guide. In India it’s on the RBI Alert List. In Pakistan the SECP says it’s “NOT authorized” and asked for it to be blocked. Quotex itself refuses clients from the US, Canada, Hong Kong, the EEA, Israel and Russia. Elsewhere it’s an unlicensed offshore broker with no local protection.
Risk warning: binary options are high-risk. You can lose your whole stake on every trade, and most retail traders lose money. They’re banned for retail traders in the EU, UK and Australia.
“Is Quotex legal?” usually comes from someone who’s seen it on Instagram or YouTube, opened the site, and found that it works. A working website tells you nothing about legality, though. Quotex is blocked or flagged in some of its biggest markets and still reachable in most of them.
We checked the regulators’ own warnings and Quotex’s own list of restricted countries, linked every source, and explained what each one means for you as a trader.
- Quotex is run by an offshore company (ON SPOT GROUP LLC, St. Kitts and Nevis, per its own agreement). No financial regulator licenses it.
- India: on the RBI Alert List since 2023. Trading forex through it breaches FEMA.
- Pakistan: the SECP’s April 2025 warning names Quotex and asks the FIA, PTA and Google to block it.
- Restricted by Quotex itself: USA, Canada, Hong Kong, EEA countries, Israel and Russia.
- Fake “Quotex” sites (quotex.com.in, quotex.net.in) add a scam risk on top of the legal one.
Table of contents
Is Quotex Legal in Your Country?
| Country | Status | Source |
|---|---|---|
| India | Not authorized for forex under FEMA | RBI Alert List |
| Pakistan | Not authorized; referred for blocking | SECP press release, Apr 2025 |
| Portugal | Not authorized for any financial intermediation | CMVM via IOSCO |
| USA, Canada, Hong Kong, EEA, Israel, Russia | Quotex doesn’t accept residents | Quotex’s own site and agreement |
| UK, Australia | Binary options banned for retail traders | FCA, ASIC product bans |
| Bangladesh | No BSEC or Bangladesh Bank authorization | Foreign Exchange Regulation Act |
Is Quotex Legal in India?
No. Quotex (quotex.com) was added to the Reserve Bank of India’s Alert List in the February 2023 update, together with Pocket Option. The list covers entities that aren’t authorized to deal in forex under FEMA or to run a forex trading platform. Quotex isn’t registered with SEBI either. It was still listed in the latest update we checked (19 November 2025).
You’ll see Indian sites and Instagram reels claiming “Quotex is legal in India, just not regulated”. RBI rules say otherwise. Indian residents may trade forex only through authorized persons, on recognized Indian exchanges, in permitted pairs. Trading currency pairs with an offshore broker falls outside that.
What It Means If You Already Use Quotex in India
- Legal exposure. FEMA breaches are civil offenses, but penalties can reach up to three times the amount involved.
- Payment risk. UPI deposits often go to a third-party “merchant” or individual. That’s where many Indian users lose money, sometimes to fake Quotex sites rather than Quotex.
- No recourse. If a withdrawal is refused, SEBI, the RBI and the banking ombudsman can’t help.
Some of the top Google results for “Quotex login” and “is Quotex legal in India” are lookalike domains such as quotex.com.in and quotex.net.in. Quotex doesn’t list them on its own site. Never enter a password, UPI PIN or card number on a domain Quotex doesn’t list itself.
Short-term trading is legal in India through SEBI-registered brokers: currency derivatives on NSE and BSE, plus index futures and options. Moving to Pocket Option, Binomo, Olymp Trade or IQ Option doesn’t fix anything, because they’re on the same RBI list.
Is Quotex Legal in Pakistan?
No. Quotex has never held a license from the Securities and Exchange Commission of Pakistan. In April 2025 the SECP went further and named Qxbroker (Quotex), website and Play Store app, as an unauthorized platform targeting Pakistani investors. It stated that Quotex is “NOT authorized to operate in Pakistan” and referred it to the Federal Investigation Agency, the Pakistan Telecommunication Authority and Google to block access.
No SECP license. Pakistan has no framework that authorizes binary options brokers.
SECP names Quotex as unauthorized and asks the FIA, PTA and Google to block the site and app.
Access depends on how blocking is enforced. A site that still opens isn’t an authorized site.
Is it a crime for an individual to hold a Quotex account? No Pakistani law names Quotex users, and we haven’t seen cases against individual traders. But “not prosecuted” isn’t “legal”. You trade with zero protection, on a platform the regulator has asked to be blocked. And using a VPN to get around a PTA block puts you directly against a regulator’s instruction.
Payments in Pakistan
Quotex doesn’t connect directly to EasyPaisa or JazzCash for most users. Pakistani traders typically go through third-party crypto “exchangers”, which take PKR and send USDT, often for a 3–5% fee, or use cards that Pakistani banks frequently block. Each extra middleman is another place to lose money, and the SECP has specifically warned about agents and “account managers” on WhatsApp and Telegram.
Is Quotex Halal or Haram?
The mainstream scholarly view is that binary options aren’t permissible. A fixed-time bet on direction, with a fixed payout, no ownership of an underlying asset, and a zero-sum outcome, is widely compared to maysir (gambling) with high gharar (uncertainty). The SECP itself has compared binary options to gambling. Quotex doesn’t offer an Islamic account or any Shariah certification. We’re not a religious authority, so if this matters to you, ask a qualified scholar.
Is Quotex Legal in Bangladesh?
It isn’t authorized. Quotex has no license from the Bangladesh Securities and Exchange Commission, and Bangladesh Bank hasn’t authorized it to deal in foreign exchange. Bangladesh’s Foreign Exchange Regulation Act restricts forex dealing to licensed dealers, and Bangladesh Bank has warned against online forex trading outside authorized channels. There’s no binary-options-specific law, so many sites call it a grey area. The real exposure is the money flow: cards, exchangers and agents moving taka abroad to an offshore platform.
Countries Where Quotex Won’t Accept You
Quotex’s own site says it doesn’t provide services to residents of these countries, or to anyone under 18:
Separately, the UK and Australia ban binary options for retail traders, whichever broker offers them.
If you’re in one of these countries, Quotex isn’t for you. Registering through a VPN breaks Quotex’s own terms, and a location mismatch at verification is one of the most common reasons accounts get frozen, usually right at withdrawal.
Nigeria, Indonesia, Brazil and Other Countries
Quotex holds no local license anywhere we checked. In countries without a specific warning, it’s an unlicensed foreign broker: accessible, but with no local regulator to help if something goes wrong. Before signing up, check your own regulator’s warning list (SEC Nigeria, OJK and Bappebti in Indonesia, CVM in Brazil, CMA in Kenya) and whether your country restricts sending money abroad for trading.
Conclusion
Quotex isn’t licensed in any country we checked. In India it’s on the RBI Alert List, in Pakistan the SECP named it and asked for a block, and Quotex itself turns away residents of the US, Canada, Hong Kong, the EEA, Israel and Russia. Everywhere else, it’s an offshore broker with no local protection, surrounded by fake sites using its name.
If you’re in India or Pakistan, use your country’s regulated route instead. If you’re elsewhere and still considering it, read our Quotex review for the full risk picture and our Quotex deposit and withdrawal guide before moving any money.
FAQs
Is Quotex legal in India?
No. Quotex is on the RBI Alert List of entities not authorized to deal in forex under FEMA, and it isn’t registered with SEBI.
Is Quotex legal in Pakistan?
No. In April 2025 the SECP said Quotex is not authorized to operate in Pakistan and referred it to the FIA, PTA and Google for blocking.
Is Quotex banned in India?
It’s on the RBI Alert List, which means it isn’t authorized for forex trading in India. The site may still open, but that doesn’t make using it legal or protected.
Which countries does Quotex not accept?
Quotex says it doesn’t serve residents of the USA, Canada, Hong Kong, EEA countries, Israel and Russia, or anyone under 18.
Is Quotex regulated?
No. Quotex’s operator is an offshore company, and the IFMRRC it mentions is a private organization, not a financial regulator.
Is Quotex halal?
The mainstream scholarly view is that binary options aren’t halal, because the fixed-time, fixed-payout structure resembles gambling. Quotex has no Islamic account or Shariah certification.
Can I use a VPN for Quotex?
No. It breaks Quotex’s terms and, in Pakistan, works against a regulator’s blocking request. A country mismatch at verification is also a common reason accounts get frozen.
This guide is educational and isn’t legal or financial advice. CrypOption Hub and its authors are not lawyers or licensed financial advisors. Regulations change, so check your regulator’s website before acting. Read our disclaimers.
