Quotex vs CloseOption
Quotex or CloseOption: Which one should you choose? Our side-by-side analysis will help you determine the best fit for your trading goals.
Quotex and CloseOption are two binary options brokers with distinct features and offerings. Quotex stands out with its wide range of 400+ assets and a platform that appeals to newcomers with its easy-to-use interface. Meanwhile, CloseOption offers 25+ assets, focusing primarily on forex and crypto pairs. Despite its limited asset classes, CloseOption provides trading promotions and a low deposit requirement starting at $5.
In terms of regulation, Quotex lacks strong regulatory oversight but offers good security measures like SSL encryption and pin codes. CloseOption, on the other hand, is registered with Georgia’s national bank but lacks robust security features for account protection. Both platforms offer demo accounts for practice, but CloseOption provides a significantly larger virtual fund of $100,000.
Quotex provides competitive payouts of up to 98% without any trading fees, while CloseOption’s payouts can reach up to 95% with higher deposits. Each has a straightforward pricing model, though Quotex edges ahead with no fees on withdrawals or deposits.
Regulation & Trust
Quotex is unregulated, despite an expired registration with IFMRRC, harming its trust score. It was founded in 2019 and has a short track record. CloseOption is registered with Georgia’s national bank but not with a trusted trading authority, raising trust concerns.
Accounts & Banking
Quotex offers one live account with a $10 minimum deposit; CloseOption also has one live account but a lower deposit requirement of $5. Quotex does not charge trade fees and has no withdrawal or deposit fees. CloseOption has no trade fees, but it does charge for account inactivity.
Assets & Markets
Quotex provides access to over 400 assets in various classes including forex, stocks, and commodities. CloseOption only offers 25+ assets in forex and cryptos, lacking stocks, indices, or commodities.
Payouts
Quotex provides payouts up to 98%, depending on market conditions. CloseOption offers up to 95% payouts, but typically higher deposits are required for maximum returns.
Fees & Costs
Quotex has no fees for deposits, withdrawals, or trading. CloseOption also eliminates trade fees but imposes account inactivity and reactivation fees.
Platforms & Tools
Quotex features a straightforward platform suitable for beginners, but lacks advanced tools. CloseOption’s web-based platform provides essential features for binary trading but lacks more advanced tools.
Customer Support
Quotex offers email support but lacks live chat, with slow response times. CloseOption provides 24/7 support through various channels but can be unresponsive.
Is Quotex or CloseOption Better For Beginners?
CloseOption is better for beginners. It provides a lower deposit requirement and 24/7 customer support. The simple and intuitive platform also helps newcomers easily access trading, plus extensive educational resources.
Is Quotex or CloseOption Better For Experienced Traders?
Quotex is better for experienced traders. It offers a broader selection of assets alongside features like trading signals. This allows more advanced users to engage in diverse trading strategies and access a wider market range.
Why Pick Quotex Over CloseOption?
Choose Quotex for its extensive range of assets, fee-free trading, and user-friendly interface. It also provides competitive payouts and trading signals to guide your decisions.
Why Pick CloseOption Over Quotex?
Opt for CloseOption if you prefer low-entry barriers with its $5 deposit. It offers frequent trading promotions, a massive $100,000 demo account fund, and friendly payout terms for smaller investments.
Quotex vs CloseOption Details
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Quotex
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CloseOption
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Founded in 2019, Quotex is a binary broker providing over 400 assets like forex, stocks, indices, commodities, and cryptocurrencies. The platform focuses on user-friendly features, offering short-term contracts from 5 seconds to 4 hours, with payouts up to 95%. | CloseOption, based in Georgia, has over ten years of experience in the trading industry. The company provides high/low binary options trading for forex and crypto markets. They offer competitive payouts, introductory bonuses, round-the-clock customer service, and user-friendly trading software. | |
| Instruments | Binary Options on Stocks, Indices, Forex, Commodities, Cryptos | Binary Options on Forex & Cryptos |
| Demo Account | ✓ | ✓ |
| Minimum Deposit | $10 | $5 |
| Trading Platforms | Web Platform | Own |
| Payment Methods | Bitcoin Payments, Credit Card, Debit Card, Ethereum Payments, Mastercard, Visa | Bitcoin Payments, Ethereum Payments, Mastercard, PayPal, Perfect Money, WebMoney, Wire Transfer |
| Minimum Trade | $1 | $1 |
| Regulator | National Bank of Georgia | |
| Account Currencies | USD, EUR, GBP, INR, JPY, MYR, IDR, RUB, BRL, NGN, THB, VND, UAH | USD |
| Trust Rating | ||
| Assets & Markets Rating | ||
| Platforms Rating | ||
| Fees & Costs Rating | ||
| Customer Support Rating | ||
| Education Rating | ||
| Research Rating | ||
| Accounts & Banking Rating | ||
| Mobile Apps | iOS & Android | iOS & Android |
| App Review | Quotex provides a comprehensive trading app with useful tools like dynamic charting and built-in signals. It mirrors the user-friendly design of the desktop platform, ensuring easy use on computers, tablets, or mobile devices. The app's light and dark modes offer flexibility. | CloseOption's TradeRoom is a great choice for beginners due to its simple design. It allows easy placement of short-term trades from 5 seconds using straightforward charting tools. Users also benefit from tutorials and regular updates with video guides. Weekly contests for experienced traders are also provided. |
| Android App Rating | ||
| iOS App Rating | ||
| Margin Trading | ✗ | ✗ |
| AI / Machine Learning | ✗ | ✗ |
| Robo Advisor | ✗ | ✗ |
| Negative Balance Protection | ✗ | ✗ |
| Market Maker | ✓ | ✗ |
| P2P Trading | ✗ | ✗ |
| Spot Trading | ✗ | ✗ |
| Auto Trading | ✗ | |
| Copy Trading | ✗ | ✗ |
| Social Trading | ✗ | ✗ |
| Trade Signals | Daily Trading Signals | |
| VPS Hosting | ✗ | ✗ |
| Tournaments | ✓ | ✗ |
| Demo Competitions | ✗ | ✓ |
| Ethical Investing | ✗ | ✗ |
| Custodial Account | ✗ | ✗ |
| Guaranteed Stop Loss | ✗ | ✗ |
| Inactivity Fee | $0 | 0.5% |
| Islamic Account | ✗ | ✗ |
Forex Trading | ||
You can trade binary options on over 40 currency pairs, including major, minor, and exotic ones. While this is fewer forex assets than some competitors offer, payouts are competitive, reaching over 80% for EUR/USD in tests. | CloseOption provides binary trading options on over 25 forex pairs, including major pairs such as EUR/USD and minor pairs such as AUD/JPY. Payouts for each currency fluctuate, having an average return of 75% for the GBP/USD pair. | |
| GBPUSD Spread | N/A | No fee - payouts approx. 80% (Copper) |
| EURUSD Spread | N/A | No fee - payouts approx. 80% (Copper) |
| EURGBP Spread | N/A | No fee - payouts approx. 80% (Copper) |
| Assets | 40+ | 20+ |
Cryptocurrency | ||
Quotex offers trading on only three cryptocurrencies, including top tokens like Bitcoin and Dogecoin. Despite the limited selection, our latest tests show above-average payouts on these digital currencies. | CloseOption traders can trade five primary cryptocurrencies against the USD using high/low binary options. They can achieve a 40% payout, indicating good market competitiveness, due to the high market volatility of digital assets. | |
| Spread | N/A | No fee - payouts approx. 40% (Copper) |
| Coins | BTC, DOGE, PEPE | BTC, BCH, ETH, LTC, XBT |
| Crypto Lending | ✗ | ✗ |
| Crypto Mining | ✗ | ✗ |
| Crypto Staking | ✗ | ✗ |
| Auto Market Maker | ✗ | ✗ |
Binary Options | ||
Quotex remains a leader in the industry with short-term binaries on over 400 assets and payouts up to 95%. The company offers a web platform with an easy-to-use design, various chart styles, numerous indicators, and daily signals to assist traders. | CloseOption provides a convenient online platform for trading binary options on over 30 currencies. Traders can choose from 15 contract durations, ranging from 30 seconds to one month, making it suitable for both short-term and long-term traders. New members receive a welcome gift. | |
| Payout | 95% | 95% |
| Expiry Times | 5 seconds - 4 hours | 30 seconds - 1 month |
| Ladder Options | ✗ | ✗ |
| Boundary Options | ✗ | ✗ |
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