Why Quotex is not for Indian traders? Well, the answer lies in the question: Is Quotex SEBI registered?
Now, most of you find the platform useful, attractive for making huge money, but is Quotex safe in India?
In this blog, we’ll answer all this and explain why SEBI registration matters for trading.
Let’s break it down.
Is Quotex SEBI Registered in India?
Quotex provides forex trading in global currency pairs, but as per FEMA, it is banned in India.
So, when it comes to regulations, Quotex is neither registered with SEBI nor RBI.
Even more concerning, Quotex has been flagged by financial regulators in other countries like Italy, Spain, and Portugal for offering services without permission.
So if you’re trading on Quotex from India, you’re doing it on a platform that SEBI doesn’t recognize, monitor, or approve.
What This Means for Indian Traders
If you’re using Quotex from India, here’s what you need to know:
- No legal protection: If you face a Quotex withdrawal problem or your account gets blocked, there’s no Indian authority (like SEBI or RBI) that can help you.
- High risk of fraud or manipulation: Since Quotex is not regulated, it can operate without strict checks—this increases the risk of trade manipulation or unfair practices.
- Quotex Withdrawal Problem: Many Indian banks are now flagging or blocking payments to offshore trading platforms, especially those not recognised by SEBI or RBI.
- No investor grievance support: You can’t file a complaint with SEBI or approach Indian courts easily for a refund or recovery.
Bottom line, you’re trading at your own risk. If things go wrong, you have no safety net.
Has SEBI Taken Any Action on Quotex?
As of now, SEBI hasn’t released a direct warning against Quotex. But RBI has released a list of banned forex trading apps in India and Quotex is one among them.
Other than this:
- SEBI has a strict policy of allowing only SEBI-registered brokers to offer trading services. Since Quotex isn’t on that list, it’s automatically considered unapproved.
- Regulators in countries like Italy, Portugal, and Spain have already blacklisted Quotex for offering services without permission.
So while SEBI hasn’t issued a platform-specific advisory yet, the regulatory message is clear—platforms like Quotex are not welcome under Indian law.
How to Report Forex Trading Broker?
Since it is not regulated by SEBI or RBI, it raised the biggest concern about what if you get trapped in a forex trading scam.
In that case, how can you raise the issue or report it to the respective authorities?
Well, for that, there are a few ways as below:
- File a cyber crime complaint: Register on the portal and raise your concern by uploading all the necessary proofs.
- Complaint in SEBI: Although the trading platform is not registered with SEBI and hence not listed on SCORES but you can still file a complaint by sending an email.
- Lodge an FIR: However, that does not directly help in getting a refund, but gives strength to your concern.
Need help? Register with us and we will guide you with the right process and help you get forex trading scam recovery.
Conclusion
To put it simply, Quotex is not safe for Indian users.
It is not registered with SEBI, flagged by the RBI as unauthorized, and operates completely outside Indian legal protections. That means if your money gets stuck, your account is blocked, or the platform shuts down overnight, you have no one to turn to.
The flashy interface, easy deposits, and social media hype might seem tempting, but don’t let that blind you to the risk.
If you’re in India, you should not use Quotex.
It’s an unregulated, offshore platform that’s not meant for Indian traders—and using it could lead to financial and legal trouble.
Choose platforms that are SEBI-registered and fully compliant with Indian law. Your money deserves better protection.
