Quotex for Indian traders, mainly because IQ Option offers no UPI route — leaving card or crypto as the only ways in. On the product itself they are close: an advertised ceiling of 98% against 95%, the same $10 minimum, and a free demo on both.
Side by side, India columns only
 |  | |
|---|---|---|
| UPI deposit | Indirect | No |
| Minimum deposit (advertised) | $10 | $10 |
| Real cost in ₹ (our calculation) | ~₹940 | ~₹950 |
| Advertised payout ceiling | up to 98% | up to 95% |
| Typical payout band, majors | 80–92% | 75–91% |
| Our score | 7.8 | 7.5 |
| RBI Alert List | Listed | Listed |
| SEBI licence | None | None |
| Free demo | Yes | Yes |
| Minimums and payout ceilings are as published by each platform and change without notice — verify on their site before depositing. The rupee row is our calculation at ₹83.92/$ mid-market plus a typical processor spread, not a quoted price. Both platforms appear on the RBI Alert List and neither holds a SEBI licence. | ||
The deciding factor is payments
On the product itself these two are the closest pair in the category. What separates them for an Indian user is mundane: IQ Option has no UPI route, leaving cards — the most expensive way in, at roughly 14% over mid-market — or crypto.
Quotex's UPI route is indirect and carries a spread of around 12%, which is not good either. But it exists, it works from any Indian bank app, and it does not require opening a crypto exchange account first.
Payout range: marginal
An advertised ceiling of 98% against 95%, with typical bands on major pairs that overlap heavily. Both are real advantages to Quotex and both are small. If IQ Option supported UPI, this comparison would be close enough that either answer would be defensible.
Where IQ Option is genuinely better
- Wider instrument range beyond fixed-time options, including CFDs on some accounts
- More mature charting, with a deeper indicator library
- Longer operating history, which some traders reasonably weigh
None of these change the regulatory position. IQ Option is on the RBI Alert List exactly as Quotex is.
Verdict
Quotex, for Indian traders specifically, and the reason is payment access rather than product quality. If you already hold USDT and are comfortable moving it, the gap narrows to almost nothing and either platform is defensible. Neither is regulated here.