Introduction
Pocket Option and Quotex are two of the biggest names in the world of binary options trading. Both platforms offer traders the ability to speculate on the short-term price movements of various assets, with returns of up to 95% on successful trades.
Pocket Option was founded in 2017 and is based in the Marshall Islands. It quickly grew to become one of the largest binary options brokers worldwide, serving customers across over 150 countries. Pocket Option offers trading on over 100 assets, including forex, cryptocurrencies, commodities, stocks, and indices.
Quotex, on the other hand, was launched in 2021 and operates out of Seychelles. It positions itself as an advanced derivatives trading platform, offering digital options, forex, CFDs, stocks, and crypto. Quotex has also expanded rapidly, attracting traders globally with its user-friendly platforms, tight spreads, and fast execution.
While neither Pocket Option nor Quotex are regulated, they have established themselves as leading providers of short-term trading instruments for retail traders looking to profit from price movements in global markets. This comparison aims to weigh their key features against each other to determine which platform best suits different trading needs and styles.
Account Types
Pocket Option offers four account types: Demo, Basic, Gold, and VIP. The demo account is for practice trading and does not require a deposit. The Basic account is the entry-level real money account with a minimum deposit of just $50.
The Gold account requires a minimum deposit of $1000 and provides some additional benefits like faster withdrawals and a personal account manager. At the top tier is the VIP account with a $3000 minimum deposit and extra perks like risk-free trades, trading signals, and exclusive events.
Quotex also provides four account tiers: Demo, Standard, Premium, and VIP. Like Pocket Option, Quotex offers a demo practice account. The Standard account can be opened with a minimum deposit of $10.
The Premium account requires a $1000 deposit minimum but adds more features like daily market reviews, faster withdrawals, and a dedicated account manager. The VIP account is Quotex’s top tier for active traders, requiring a $50,000 deposit and including benefits like risk-free trades, exclusive trading signals, and payouts up to 95%.
Overall, Pocket Option and Quotex offer similar account structures with four tiers and demo accounts. Pocket Option has a lower minimum deposit for its starter account compared to Quotex. At the higher tiers, both brokers provide additional services and features for larger deposit accounts.
Trading Platforms and User Experience
Pocket Option and Quotex offer user-friendly trading platforms designed for binary options trading.
Pocket Option’s web-based platform provides a simple interface focused on fast execution for short-term trades. Charts have basic technical indicators and drawing tools. The platform is easy to navigate but lacks some customization options.
The Pocket Option mobile app mirrors the web platform. It has fast loading times and a clean, minimalist interface. The app is stable on both iOS and Android devices. It provides full account management and trading capabilities on-the-go.
Quotex uses a proprietary web-based platform built on HTML5 technology. It has customizable layouts and more advanced charting features like trend lines and time frames. The interface is modern but can feel overwhelming initially.
Quotex also offers mobile apps. The iOS app has limited reviews, while the Android app has received more positive feedback. The apps allow full trading, but some features like charting are restricted. The apps can experience lag at times.
Overall, Pocket Option offers a simpler and more intuitive platform, while Quotex provides more advanced customization. Both brokers cater well to mobile traders, but Pocket Option’s app seems more stable and user-friendly.
Assets and Trading Options
When it comes to assets and trading options, Pocket Option and Quotex differ significantly.
Pocket Option offers over 100 assets covering forex, commodities, stocks, indices, and cryptocurrencies. Traders can trade binary options, digital options, and forex on Pocket Option. The broker offers flexible expiry times ranging from 60 seconds to several days. Pocket Option is best suited for short-term binary options traders.
In contrast, Quotex currently offers around 40 CFD assets across forex, commodities, stocks, indices, and cryptocurrencies. Quotex is purely a CFD broker, so traders can go long or short on assets. Quotex also provides leverage up to 1:500. The platform is more tailored towards forex and CFD traders who utilize technical analysis for directional trading.
When comparing the assets and trading options, Pocket Option caters well to binary options traders with its extensive selection of short-term options. Quotex appeals more to traders seeking CFD products for leveraged directional trading. The choice between the two platforms will come down to your preferred trading instrument and strategy.
Fees and Commissions
When it comes to fees and commissions, Pocket Option and Quotex take different approaches.
Pocket Option does not charge any fees or commissions on trades. This helps keep costs down for traders. Withdrawals are also free up to the first three per month. After that, a small fee applies based on the payment method. There are no account inactivity fees.
Quotex has a different fee structure. They charge no commissions on most trades, except for cryptocurrency CFDs which have a 2% commission per trade. Quotex does charge inactivity fees – accounts that are inactive for over 90 days are charged $10 per month. Withdrawal fees apply based on payment method, ranging from 1% to 5% of the amount withdrawn.
Overall, Pocket Option clearly has lower fees compared to Quotex. The lack of any trading commissions or fees can make a significant difference in profitability over time, especially for high volume traders. Quotex’s commissions and fees apply in more situations, which increases trading costs. However, Quotex does offer lower spreads in some cases, which helps offset costs.
When weighing the overall costs of trading on each platform, Pocket Option appears to be the more cost effective option in most cases. Only traders focused exclusively on cryptocurrency CFDs may find Quotex’s fee structure more advantageous. But for most traders, Pocket Option’s lack of any trading fees or commissions provides a clear cost benefit.
Education and Support
When choosing a binary options broker, it’s important to consider the educational resources and trader support offered. This can make a big difference in your overall experience and trading success.
Learning Materials and Resources
Pocket Option provides an extensive education center with beginner and advanced courses, video tutorials, webinars, ebooks, and more. Everything is well-organized and covers topics like technical analysis, risk management, and trading psychology. Quotex also offers useful trading guides, video lessons, ebooks, and tutorials. However, Pocket Option has a slight edge when it comes to the breadth of learning materials for developing trading skills.
Both brokers also have trading tools like economic calendars and trading signals to help inform trading decisions. Pocket Option has a few more advanced tools like a risk management calculator and profit percentage calculator.
Customer Support
Pocket Option provides customer support 24/7 via live chat, email, and phone. The support team is very responsive, with chat queries answered in less than a minute on average. Support is available in multiple languages as well. Quotex also has 24/7 customer support via live chat, email, and a callback request form. While they aim to respond within minutes, chat responses can sometimes take longer during peak times based on user reviews.
Overall, Pocket Option edges out Quotex when it comes to more extensive educational resources and slightly faster customer support response times. This can make a difference for new traders still learning the ropes.
Payments and Withdrawals
Pocket Option and Quotex offer several convenient payment methods for traders to fund their accounts and withdraw profits.
When depositing, Pocket Option accepts credit cards, e-wallets like Neteller and Skrill, as well as cryptocurrency deposits. Deposits are credited instantly. Quotex also offers credit card deposits, e-wallets, and cryptocurrency funding. Deposit processing times are nearly instant.
For withdrawals, Pocket Option processes requests within 1 business day. Withdrawals can be made via credit cards, e-wallets, or crypto wallets. Quotex withdrawal requests are also processed within 1 business day. Traders can withdraw to their credit card, e-wallet, or a bank transfer.
Both brokers do not charge fees for deposits or withdrawals, which is beneficial for traders. The quick processing times allow traders to deposit funds and take out profits conveniently.
Overall, Pocket Option and Quotex offer suitable payment options for different types of traders. The instant deposit crediting and fast 1-day withdrawal processing give traders a smooth experience in managing their account funds.
Security and Regulation
Pocket Option and Quotex take different approaches when it comes to regulatory compliance and licensing. Pocket Option operates without regulation, stating that they instead focus on maintaining high security standards and trader protection measures. Quotex, on the other hand, is licensed by the International Financial Market Relations Regulation Center (IFMRRC) in Panama.
Operating without regulation means Pocket Option does not fall under any regulatory oversight in terms of operations, trader fund segregation, or dispute resolution. All policies and protections are set at the broker’s discretion. This differs from Quotex being regulated in Panama, which requires compliance with certain standards on fund handling, data protection, and more.
When it comes to safety of funds, Pocket Option states that client funds are kept segregated from company funds for protection. Quotex also highlights segregated accounts at regulated banks. For data protection, Pocket Option utilizes SSL encryption and other security protocols to keep user data and transactions private. Quotex states compliance with international data protection laws as a regulated broker.
The regulatory status presents a key difference between the two brokers. Quotex may appeal to traders wanting an extra layer of oversight and legal compliance. However, regulation does not guarantee fund safety, as shown by regulated brokers that have failed. Pocket Option provides assurances on trader protections, but has more discretion in policies as an unregulated entity. Traders should weigh up the importance of regulation for their personal trading needs and risk tolerance.
Bonuses and Promotions
Both Pocket Option and Quotex offer various bonuses and promotions to attract new traders to their platforms. However, there are some key differences between their offerings.
Welcome Bonuses
Pocket Option provides new traders with a 50% deposit bonus up to $500 on their first deposit. This means if you deposit $1000, you’ll get an extra $500 added to your account. To withdraw your bonus, you’ll need to meet a 40x turnover requirement within 30 days.
Quotex also offers a welcome bonus, but it’s smaller at 25% up to $250. The turnover requirement is lower too at just 20x within 7 days.
Reload Bonuses
Pocket Option occasionally offers reload bonuses to traders who make additional deposits. These can range from 25% – 100% depending on the promotion. Terms usually require a 30-40x turnover of the bonus amount.
Quotex does not currently offer any reload or recurring deposit bonuses beyond the initial welcome bonus.
Other Promotions
Pocket Option provides a wider range of other promotions, including cashback rewards, contests with prize draws, and special offers tied to specific assets or events.
Quotex limits its promotions to just the welcome bonus for new traders at this time.
Key Takeaways
- Pocket Option offers much larger welcome and reload bonuses, but has higher turnover requirements.
- Quotex has a smaller welcome bonus with lower turnover needs.
- Pocket Option provides more ongoing promotions and rewards.
- Traders should consider the terms attached to any bonuses before opting in.
Final Verdict
After reviewing the key features and differences between Pocket Option and Quotex, here is a summary of the main pros and cons to consider:
Pocket Option Pros:
- Regulated broker with clear licensing
- Excellent customer support and education for beginners
- Higher payouts up to 95%
- More account currency options
Pocket Option Cons:
- More limited assets and trading options
- Slightly higher minimum deposit
Quotex Pros:
- Wider selection of assets and order types
- Faster trade execution speeds
- Lower minimum deposit requirement
- Copy trading available
Quotex Cons:
- Unregulated offshore broker
- Lower payouts around 85%
- Fewer account currency choices
Overall, while Quotex offers more advanced trading options and lower deposit requirements, Pocket Option is likely the safer choice for most traders due to their clear regulation and excellent beginner resources. Unless you require specific advanced order types or assets not available on Pocket Option, I would recommend Pocket Option as the best fit for traders looking for a reliable and regulated broker with great payouts and education.
