How are Quotex gains taxed in India?

A flat 30 percent under Section 115BBJ plus 4 percent cess, with no slab benefit and no set-off of losses. Foreign platforms do not deduct TDS under Section 194BA, so you self-report in your ITR.

🇮🇳 Written for India Updated 26 Aug 2026

Quotex advertises $10 minimum. In rupees it is closer to ₹940.

Item: Quotex
Rating: 7.8
Author: Binary Options India

Every Quotex page written for India quotes the dollar figure and stops there. Nobody converts it. We work out what a deposit actually costs once the payment processor takes its cut, what the tax rule really does to your net result, and where Quotex stands with the RBI and SEBI — with the arithmetic shown so you can check every line.

BIBinary Options India editorial team · Figures calculated, not copied — see the method

Our assessment

A capable platform sitting entirely outside Indian regulation

Quotex is one of the better-built platforms in its category: low entry, a genuinely unrestricted demo, and payouts at the top of the range for fixed-time options. What it cannot offer an Indian trader is any form of supervision or recourse — and the rupee cost of moving money is higher than the dollar figure suggests.

7.8out of 10

Good product, no safety net

★★★★☆

Scored against six published criteria. Regulation carries 25% and is the only score below 7.

Platform & features Charting, order types, asset range 8.6

Payout range Against others in the category 8.8

Payment access from India Which rails work, and at what cost 6.5

Mobile App availability and distribution 7.4

Entry point & demo $10 minimum, unrestricted free demo 9.0

Regulation & recourse SEBI status, RBI list, dispute route 4.5

What works in its favour

Payouts at the top of the category. Up to 98% advertised on selected assets, with 80–92% typical on major pairs — above most competitors.
$10 entry. Among the lowest available, so the platform can be tested without committing meaningful capital.
An unrestricted demo. $10,000 virtual, no deposit, no KYC, no time limit, no crippled features. Rare in this category.
Multiple payment routes reach India, including UPI through a processor and USDT directly.

What to know before you deposit

No SEBI licence. India has no licence category for binary options, so no platform here holds one — and there is no regulator to complain to.
No native INR account. Balances are in dollars; every deposit and withdrawal is converted by a third party.
The rupee cost is higher than $10 suggests once the processor spread is included. USDT is the cheapest route by a wide margin.
31.2% tax on winnings, with no loss set-off — and no TDS deducted at source, so you self-report.
Match your KYC name to your bank records exactly. Name mismatches are the most commonly reported cause of withdrawal delays.

The rupee arithmetic

The conversion nobody on page one does for you

Quotex quotes everything in dollars. Your bank works in rupees, and a third-party processor sits between the two. Here is what that costs, calculated from public rates with every assumption stated.

What the $10 minimum costs in rupees

Worked at ₹83.92/$ mid-market. Blue is the true value of $10; orange is the processor's spread and fee.

USDT · TRC-20~₹865

₹839 value

+3%

Net banking · IMPS~₹935

₹839 value

+11%

UPI · via processor~₹940

₹839 value

+12%

Card · Visa / Mastercard~₹955

₹839 value

+14%

Mid-market value of $10 Processor spread & fees

Quotex charges no deposit fee — the entire gap belongs to the payment intermediary. Spreads vary by processor and change without notice; treat these as the order of magnitude, and check the rate shown at your own payment screen before confirming. How to calculate yours →

What Section 115BBJ does to a winning year

Tax applies to gross winnings. Losses cannot be set off — which is why frequency hurts.

Wins ₹1,00,000 · loses ₹40,00052% of the gain

₹31,200 tax on ₹60,000 net

Wins ₹5,00,000 · loses ₹4,20,000195% of the gain

₹1,56,000 tax on ₹80,000 net

Wins ₹3,00,000 · loses ₹3,50,000Tax on a loss

₹93,600 owed on a ₹50,000 loss

30% flat under Section 115BBJ plus 4% cess. The third row is not an error — because losses are not deductible, a trader who finishes the year down can still owe tax. Illustrative, not advice. Full tax guide →

📐

How to check any of this yourself

Take the mid-market USD/INR rate from any currency site. Multiply by the dollar amount — that is what the money is genuinely worth. Then compare it against the rupee figure your payment screen quotes before you confirm. The difference is the processor's margin, and it is the number no affiliate page will show you. Our full method and sources →

Head to head

Quotex against the alternatives — India columns only

Global comparison tables rank on things that do not matter here. These are the four that decide it for a trader in India, plus the regulated route most pages never mention.

Platform	Min deposit	UPI	Advertised payout	Real ₹ cost of minimum	RBI Alert List	Score
	$10	Indirect	up to 98%	~₹940	Listed	7.8	Try demo
	$10	No	up to 95%	~₹950	Listed	7.5	Visit
	$5	Direct	up to 90%	~₹440	Listed	7.2	Visit
	$10	Indirect	up to 92%	~₹945	Listed	7.0	Visit
	$5	Indirect	up to 96%	~₹470	Listed	6.8	—
NSE / BSE options	Varies	Direct	Market-priced	₹0 spread	SEBI regulated	Legal	Learn
Minimums and advertised payouts are as published by each platform and change without notice — verify before depositing. The rupee column is our calculation at ₹83.92/$ mid-market plus a typical processor spread, not a quoted price. Every offshore platform listed appears on the RBI Alert List; the last row is the regulated alternative.

Legal status & tax

Is Quotex legal in India? The straight answer

Not banned, and Indian residents open accounts every day. But not authorised either — and the difference is what decides whether you have any recourse when something goes wrong.

⚖️

Not banned, but not authorised — and no platform in this market is

SEBI has never licensed a binary options platform in India, because there is no licence category for the product. Quotex appears on the RBI Alert List of entities not authorised to deal in foreign exchange under FEMA — as does every offshore binary platform available here. So the choice is not between a regulated and an unregulated broker; it is between using an unregulated product knowingly, or trading regulated options on NSE and BSE instead. Any site telling you Quotex is "SEBI approved" is describing something that cannot exist, and you can check the SEBI register yourself. Read the full legal breakdown →

Tax on ₹1,00,000 of winnings	Amount	How it works
Gross winnings	₹1,00,000	Net winnings under Section 115BBJ
Losses in the same year	₹40,000	No set-off or carry-forward
Tax at 30%	₹30,000	Flat rate, no slab benefit
Cess at 4%	₹1,200	Applied to the tax amount
Total payable	₹31,200	TDS withheld by Quotex: ₹0 — you self-report in your ITR
Worked from the text of Sections 115BBJ and 194BA of the Income Tax Act. Illustrative only, not tax advice — the head of income under which binary options gains fall can be argued, so confirm your position with a chartered accountant before filing.

Full coverage

Everything on Quotex in India

Platform & app

What the platform offers, how the APK distribution works, and the demo account.

Money in and out

What the minimum really costs in rupees, which route is cheapest, and what delays withdrawals.

III

Legal & tax

RBI Alert List, SEBI position, FEMA exposure and Section 115BBJ in rupees.

Strategy & the bot

The arithmetic behind fixed-time options, session timing in IST, and the free robot.

Straight answers

Quotex India — frequently asked

Is Quotex legal in India?

It is not banned, and Indian residents open accounts freely. But it is not authorised either: it appears on the RBI Alert List of entities not permitted to deal in foreign exchange under FEMA, and holds no SEBI licence — because India has no licence category for binary options at all.

Practically, that means no Indian regulator supervises the platform and there is no local body to escalate a dispute to.

What does the $10 minimum really cost in rupees?

At a mid-market rate of ₹83.92 to the dollar, $10 is genuinely worth about ₹839. Because Quotex has no rupee account, a third-party processor handles the conversion and takes a spread on top — typically bringing a UPI deposit to somewhere around ₹940.

USDT on the TRC-20 network carries a much smaller spread, usually landing near ₹865. Spreads vary by processor and change, so check the rate quoted at your payment screen before confirming.

Does Quotex accept UPI?

Indirectly. There is no native UPI integration — the payment routes through a third-party processor, and the transaction appears on your bank statement under the processor's name rather than Quotex. Availability changes without notice, so a method that worked last month may not work today.

Are the advertised 98% payouts real?

The figure is genuinely advertised, but it applies to selected assets and conditions rather than to the platform generally. Standard payouts on major pairs sit in the 80–92% band, which is still at the higher end of the category.

Worth being clear about what the number means: payout is the return on a winning trade, not an expected return. At a 92% payout a losing trade costs 100% of your stake while a winning one returns 92%, so break-even requires a sustained win rate above 52%.

How are my gains taxed?

A flat 30% under Section 115BBJ plus 4% cess, with no slab benefit, no basic exemption, and no set-off or carry-forward of losses. On ₹1,00,000 of winnings against ₹40,000 of losses, you pay ₹31,200 on a real gain of ₹60,000.

Indian platforms deduct 30% TDS under Section 194BA. Foreign ones do not, so you must self-report in your ITR. Confirm the head of income with a chartered accountant.

Is the demo account really free?

Yes — $10,000 in virtual funds, no deposit, no KYC, no time limit, and the same platform and assets as a live account.

In India it is also the only part of the platform with no legal or tax dimension: no money leaves the country, no forex transaction occurs and no income arises.

Do you earn a commission if I sign up?

On pages marked as affiliate, yes — and the disclosure sits at the top, not buried in the footer. If you open an account through one of our links we may receive a commission at no cost to you.

Commission rates play no part in how we score or rank. Our methodology page sets out the six criteria and their weights, and the legal and tax guides carry no affiliate links at all.

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