Quotex banned countries list: where is Quotex legal?

Quotex status by country

"Available" is not the same as "legal"

Most searches ask where Quotex is available. Availability only means the platform accepts sign-ups and deposits from your country. Legality depends on your own regulator, and an offshore platform can be reachable in a country whose regulator has warned against it — India and Pakistan are both examples.

The other half of the picture: we found no financial regulator anywhere that lists Quotex as licensed. Third-party trackers such as BrokersView describe it as unregulated, and the operating company named in reviews has changed over time. So "in which country is Quotex legal" has no clean answer — the honest version is "in no country is it licensed, and in several it is named as unauthorised".

Countries Quotex does not serve

Review sites report that Quotex does not accept clients from the United States, Canada, EU and EEA countries, Hong Kong, Russia and Indonesia (Traders Union); some lists add Israel, Malaysia and Belarus. We could not read Quotex's own client agreement to confirm the exact list, so treat it as indicative: the list in the terms you accept at sign-up is the one that applies. Using a VPN or someone else's details to get around a country restriction breaks those terms and is a common reason accounts are blocked at withdrawal.

Italy, Spain and Portugal: named as unauthorised

• Italy. CONSOB named Quotex on 20 December 2021 for offering financial services without the required authorisation (resolution no. 22116). CONSOB's resolutions of this kind order Italian internet providers to block the sites they list.
• Portugal. The CMVM stated on 3 January 2023 that Quotex was not authorised to carry out any financial intermediation activity in Portugal (as reported by BrokersView).
• Spain. The CNMV issued an investor warning against Quotex at quotex.io, naming Awesomo Ltd and Quotex Ltd as operators (as reported by FinTelegram).

Retail binary options are restricted across the EU in any case, which is why the platform reportedly does not take EU clients at all.

Indonesia: blocked by Bappebti

Indonesia's commodity futures regulator, Bappebti, said in February 2022 that it had blocked 1,222 illegal trading domains in 2021, including 92 binary-option domains "such as Binomo, IQ Option, Olymptrade, Quotex" (Kontan, 3 February 2022). Indonesia treats binary options as gambling dressed up as trading.

Pakistan: named by the SECP

On 9 April 2025 the Securities and Exchange Commission of Pakistan issued a press release, "SECP Cautions Public Against Illegal Offshore Trading and Investment Platforms". It names one platform — "Qxbroker (Quotex)", reached through qxbroker.com and an app on Google Play — and states that it "is NOT authorized to operate in Pakistan".

• The SECP referred the matter to the Federal Investigation Agency (FIA), the Pakistan Telecommunication Authority (PTA) and Google, including blocking access to the platform inside Pakistan.
• It told the public not to open accounts, deposit funds or share personal or financial information with the platform.
• It pointed to its website for the list of authorised brokers and licensed investment advisers, and warned about offers made through social media, WhatsApp groups and influencers.

A month later, on 22 May 2025, the SECP issued a broader warning against unlicensed online trading platforms and apps offering unrealistic returns. If you are in Pakistan, the regulator could not have been clearer: do not use it.

Bangladesh: illegal under foreign-exchange law

Bangladesh Bank has not published a notice naming Quotex that we could find. Its position on online foreign-exchange trading, though, has been explicit since January 2012, when it warned that trading currency through internet portals with unauthorised entities is illegal and said it would take legal action against those offering it (The Daily Star, 14 January 2012). The legal basis is the Foreign Exchange Regulation Act, 1947, under which only authorised dealers and money changers may deal in foreign currency (Finance Magnates). Bangladesh Bank also singled out card payments for such trading as "not only illegal" but high-risk.

Nepal: payment channels and crypto both closed

We found no Nepal Rastra Bank notice naming Quotex. Two NRB positions make using it difficult to do lawfully:

• In May 2019 the NRB said that using a QR code, POS machine or other payment system linked directly to foreign payment operators not authorised by the NRB is illegal under the Foreign Exchange (Regulation) Act (summary by Pradhan & Associates).
• In September 2021 the NRB declared cryptocurrency trading and mining punishable (ShareSansar) — which matters because USDT is the most common way money reaches offshore platforms.

UAE: no licence, and a warning about apps like it

Investment firms in the UAE are licensed by the Securities and Commodities Authority (SCA) onshore, and by the DFSA and FSRA in the DIFC and ADGM financial free zones. We found no warning that names Quotex, and no licence for it. In November 2025 the SCA warned investors about trading apps owned by unlicensed firms, listing five red flags: an app not found on the SCA's or other regulators' websites; promises of high profit with little risk; missing company details; operating from outside the UAE without a licence; and requests to pay into personal accounts (Khaleej Times, 4 November 2025). Quotex meets at least the first and fourth.

India: on the RBI Alert List

Quotex is on the Reserve Bank of India's Alert List of entities not authorised to deal in forex or run forex trading platforms, and SEBI has no licence category for binary options at all. It is not blocked, but there is no regulator behind it. Full detail in Is Quotex legal in India? and the RBI Alert List explained.