Quotex review for Kenyan traders

Quotex is a fixed-time trading platform available on Android, iOS and the web. The minimum deposit is 10 USD, and the minimum trade size is 1 USD, which puts it in the same entry range as several other brokers Kenyan traders commonly compare.

Quotex advertises a maximum payout of 98%. That is the highest figure among the brokers we track on this page, ahead of Pocket Option at 92%, IQ Option and Olymp Trade at 95%, and Stockity at 90%. A high maximum payout does not mean every trade pays that rate; it is the ceiling, and individual trades can settle lower.

The platform itself is the Quotex platform. There is no separate MT4 or MT5 integration listed, so if you prefer MetaTrader, you would need to look at brokers such as Deriv or Pocket Option, which list MT5 among their platforms.

For a Kenyan trader, the practical question is whether the higher advertised payout outweighs the fact that Quotex has no licence found in any register we read. The Capital Markets Authority licenses online forex brokers and money managers, but it does not license fixed-time trading, so Quotex would not appear on a CMA register for this activity in any case.

Quotex lists a minimum deposit of 10 USD. Kenyan traders typically fund accounts through M-Pesa, bank transfer, cards, or USDT. M-Pesa is the most common route here, usually processed through a payment partner rather than the broker directly.

Bank transfer works from any local bank through PesaLink or a standard transfer. Cards are accepted as Visa and Mastercard, subject to your bank's international limit. USDT, usually on TRC-20, is often the fastest route when a card is declined.

Quotex does not publish a specific withdrawal fee or processing time in the data we hold. What is known is the deposit and trade minimums, not the speed of payout. Kenyan traders should treat withdrawal terms as something to verify inside the platform before committing funds.

Because the shilling is the local currency, any USD-denominated deposit involves conversion. The rate your bank or payment partner applies will affect the real cost of funding an account, and the same applies when withdrawing back to KES.

Quotex is available on Android, iOS and the web. The mobile apps are the route most Kenyan traders will use, given how much trading here happens on phones rather than desktops.

The Quotex platform is the broker's own software. It is not built on MetaTrader, so if you are looking for trading apps Quotex users describe as familiar from MT4 or MT5, this is a different interface. That is not automatically a drawback, but it means a learning curve if you are coming from MetaTrader.

For traders who specifically want MT5, the brokers on this page that list it are Deriv and Pocket Option. Quotex does not. If you want a broker-owned app with a simpler fixed-time interface, Quotex competes directly with Pocket Option, Olymp Trade and Binomo, all of which offer Android, iOS and web access.

One practical note: the Quotex trading bot question comes up often in Kenyan trading groups. Quotex does not publish an official trading bot in the data we hold. Any bot sold separately as a Quotex tool is a third-party product, not something this page can verify.

Quotex has no licence found in any register we read. That is a material fact for a Kenyan trader, because it means there is no securities regulator we can point to that oversees the platform's conduct.

The Capital Markets Authority licenses online forex brokers and money managers in Kenya. It does not license fixed-time trading, which is the product Quotex offers. So even a broker with a clean CMA record would not be CMA-licensed for this activity.

Other brokers on this page show what a licensing record looks like. Deriv holds MFSA 70156, Labuan FSA MB/18/0024 and VFSC company No. 14556. Pocket Option holds MISA (Mwali) T2022086. Olymp Trade holds VFSC company No. 40131 and is a Financial Commission member. IQ Option holds CySEC 247/14 for the EEA.

Quotex has no regulator warnings on record in the data we hold. That is different from having a licence: the absence of a warning is not the presence of oversight. A Kenyan trader choosing Quotex is choosing a platform with no identified regulator, and should weigh that against the 98% maximum payout.

Across the brokers we track, Quotex sits at rank 4. The table below shows the key figures side by side.

• Stockity: 10 USD minimum deposit, 1 USD minimum trade, 90% maximum payout.
• Deriv: 5 USD minimum deposit, 0.35 USD minimum trade, 100% maximum payout.
• Pocket Option: 5 USD minimum deposit, 1 USD minimum trade, 92% maximum payout.
• Quotex: 10 USD minimum deposit, 1 USD minimum trade, 98% maximum payout.
• IQ Option: 10 USD minimum deposit, 1 USD minimum trade, 95% maximum payout.
• Olymp Trade: 10 USD minimum deposit, 1 USD minimum trade, 95% maximum payout.
• Binomo: 10 USD minimum deposit, 1 USD minimum trade, 90% maximum payout.
• Expert Option: 10 USD minimum deposit, 1 USD minimum trade, 95% maximum payout.
• Exnova: 10 USD minimum deposit, 1 USD minimum trade, 92% maximum payout.
• BinaryCent: 250 USD minimum deposit, 0.1 USD minimum trade, 92% maximum payout.

Quotex's 98% maximum payout is the highest listed, but Deriv offers a lower minimum deposit and a lower minimum trade, and it carries three licences on record. Pocket Option undercuts Quotex on minimum deposit while offering MT4 and MT5. The best forex trading platforms Quotex competes with are not necessarily the ones with the highest payout; they are the ones whose licensing and platform range match what you need.

For a Kenyan trader using M-Pesa, the deposit minimum is only part of the cost. Conversion to USD, payment partner fees and withdrawal friction all affect the real comparison. Quotex's headline numbers are competitive; its regulatory gap is the main trade-off.