Quotex Broker Review for Beginners: Is It the Right Platform for Your First Side Hustle?

Introduction

Starting your trading journey can feel overwhelming. There are countless brokers, platforms, and apps promising quick profits. One name that keeps popping up in discussions is Quotex. But is it really beginner-friendly?

In this article, we’ll explore Quotex from the perspective of a complete beginner who wants to build a side hustle. We’ll cover how the broker works, its pros and cons, and whether it’s the right place to start.

What is Quotex?

Quotex is a binary options broker established in 2019. It allows users to trade digital contracts by predicting whether the price of an asset will move up or down within a set timeframe.

Assets available on Quotex include:

Forex pairs (EUR/USD, GBP/JPY)
Cryptocurrencies (Bitcoin, Ethereum, Tether)
Commodities (gold, silver, oil)
Global indices (NASDAQ, S&P 500, DAX)

Menurut Investopedia, binary options are considered high-risk because the outcomes are fixed: either you win a predetermined payout or lose your investment.

Why Beginners are Attracted to Quotex.vip

Low minimum deposit: only $10 (around Rp150,000).
Free demo account with $10,000 virtual money.
Simple interface: less complex than MetaTrader or forex brokers.
Quick trade durations: from 30 seconds to a few hours.
Accessible payment methods: e-wallets, bank transfers, and crypto.

Menurut Price Action Indonesia, beginner traders in Indonesia often choose Quotex because it allows them to practice strategies with small amounts of money, minimizing psychological stress.

How to Get Started with Quotex.vip (Step-by-Step)

Step 1: Register

Step 2: Try the Demo Account

You’ll instantly receive $10,000 virtual balance to practice risk-free.

Step 3: Make a Small Deposit

Minimum deposit is $10. Payment options include local banks (BCA, Mandiri), e-wallets (OVO, DANA, GoPay), and cryptocurrency.

Step 4: Place Your First Trade

Choose an asset (e.g., EUR/USD).
Decide trade amount (start with $1).
Predict up or down.
Select expiration time.
Confirm trade.

Step 5: Withdraw Profits

Withdrawals usually process within 24 hours.

Menurut European Securities and Markets Authority (ESMA), beginners should always start with demo trading before risking real money to understand volatility and platform mechanics.

Pros and Cons of Quotex for Beginners

Pros	Cons
Very low deposit requirement	High risk of total loss
Easy-to-use mobile and web app	Not regulated by top-tier bodies (FCA, ASIC)
Fast deposits & withdrawals	Binary options carry gambling stigma
Demo account with virtual funds	Limited trading education built into the platform

Menurut Price Action Indonesia, the pros can outweigh the cons for disciplined beginners, but only if trading is treated as a business, not gambling.

Beginner-Friendly Features

1. Demo Account Safety Net

You can test without losing real money.

2. Trade Amount as Low as $1

Helps beginners practice money management.

3. Simple Chart Tools

Candlestick, indicators like RSI, MACD, and Moving Averages.

4. Mobile App Convenience

Available on Android and iOS, useful for those balancing trading with other side hustles.

Risks Beginners Should Know

Emotional trading: chasing losses leads to overtrading.
High volatility: crypto and forex can swing fast.
Unrealistic expectations: don’t expect to double money daily.

Menurut Harvard Business Review, the biggest challenge for beginner traders is not technical skill but controlling emotions and avoiding impulsive trades.

Strategies for Beginners

Start with Demo First: minimum 1–2 weeks.
Use Small Capital: $10–20 until confident.
Follow Simple Indicators: RSI + MA is enough.
Avoid Martingale: doubling losses destroys accounts.
Set Daily Profit/Loss Limits.

FAQs on Quotex for Beginners

1. Is Quotex beginner-friendly?
Yes, thanks to demo and low deposits.

2. Can I make real money with Quotex?
Yes, but only with discipline and risk management.

3. What’s the minimum trade size?
$1 per trade.

4. Does Quotex offer education?
Basic tutorials exist, but beginners should use YouTube and blogs for deeper learning.

5. Is it possible to withdraw small profits?
Yes, minimum withdrawal is usually $10.

6. Should I trade with borrowed money?
Never. Only use money you can afford to lose.

7. Is Quotex better than forex brokers for beginners?
Quotex is simpler, but forex brokers offer more long-term growth potential.

Multimedia Optimizations

3 WebP images: Quotex demo account screenshot, Quotex app mobile view, beginner trade placement example.
YouTube embed: “How to Start Trading on Quotex as a Beginner (2025 Tutorial)”.

Closing Thoughts

For beginners, Quotex is one of the easiest ways to experience trading. Its low deposit and user-friendly design make it accessible, but don’t let the simplicity fool you—binary options are high-risk.

👉 If you’re curious, start with the demo, learn the basics, then test real trades carefully.
👉 Ready to explore? Register now at https://quotex.id and start your side hustle journey today.

Author Profile

Name: Andi Pratama
Profession: Trader & Financial Content Writer
Location: Jakarta, Indonesia
Experience: 7+ years in forex and binary options, active contributor at Price Action Indonesia.

References

Investopedia – Binary Options Explained
ESMA – Guidelines on Binary Options Risk
Harvard Business Review – Emotional Bias in Financial Decisions
Price Action Indonesia – Beginner Trading Insights on Quotex

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