If you’ve ever tried withdrawing money from Quotex and ended up staring at a “processing” screen for days—or even weeks—you’re not alone. Many users have reported Quotex withdrawal problems.
People are sharing stories of:
Money stuck, support not responding, fake UTRs sent as proof, or worse, accounts getting blocked after a profitable trade.
Quotex promises quick, hassle-free withdrawals, so why Quotex block account?
And why do many Indian users, delays, false confirmations, and account freezes? This gives a signal of a deeper issues of forex trading scams.
This blog breaks down why these problems exist, and why they’re not just technical glitches.
Quotex Withdrawal Problem in India
Many Indian users have reported the following issues:
1. Withdrawal Requests Pending or Rejected
- Requests get stuck in “processing” status for days or even weeks.
- Some users get arbitrary rejection reasons like “account verification failed” after months of trading.
- Quotex often asks for fresh KYC documents even after approval.
2. Account Suddenly Blocked
- After making profits or initiating large withdrawals, some users find their accounts blocked or “under review.”
3. Limited or Fake Payment Gateways
- Quotex often uses unauthorized third-party payment gateways (like UPI, wallets, or crypto wallets), which are not officially integrated with regulated Indian financial systems.
- If the gateway fails, there’s no legal way to recover the money.
4. Forced Conversion to Crypto
- In many cases, users are forced to convert INR into crypto (like USDT) for withdrawals, which:
- Involves high fees.
- Adds conversion risk.
- Complicates tracking and taxation.
Now, such withdrawal issues raise a concern: ‘Is Quotex Safe?’
Why This Happens
- Binary options trading is banned in India for retail traders.
- Quotex is not registered under SEBI or RBI, making it an unauthorized and illegal platform in India.
- No grievance redressal mechanisms are available.
- It operates under offshore licenses, like the IFMRRC, which holds no legal value in India.
How to Report Forex Trading Scams
If your withdrawal request on Quotex is stuck, rejected, or you suspect foul play, reporting it is possible—but limited.
Since Quotex isn’t registered with Indian regulators, your options are mostly outside the usual SEBI or banking routes. Still, here’s what you can do:
1. File a Cyber Crime Complaint
- Visit to Cyber Crime portal.
- Register & Login
- Click on “Report Other Cyber Crimes”
- Choose “Financial Fraud”
- Submit details including:
- Screenshots of failed withdrawal
- UTR number (if given)
- Chat/email records with support
- Proof of your identity and payment method
This report goes to your local cyber cell for investigation. It may not guarantee recovery—but it’s a legal step that builds a paper trail.
2. Complaint in SEBI
Since Quotex is unregulated and not registered with SEBI, you cannot report the issue on SCORES. However, you can still raise the concern by sending an email to SEBI
- Email: sebi@sebi.gov.in
- Subject: “Unregulated Trading Platform – Quotex”
- Mention that Quotex is operating without SEBI registration, and Indian users are being financially misled.
- Attach supporting documents
Conclusion
Quotex isn’t regulated in India, and that’s the real problem.
When withdrawals fail, there’s no support, no legal backup, and no guarantee your money will come back. Many users have faced the same issue, with little to no resolution.
If you’re already stuck, options are limited. If you’re considering using it—don’t. The risks far outweigh the rewards.
