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Does Quotex Work in Kenya? A Comprehensive Review
from QUOTEX
Yes, Quotex works in Kenya. The online trading platform is fully accessible to Kenyan users, and many traders in the country are already using it to trade digital options, forex, cryptocurrencies, and other assets. If you’re in Kenya and considering Quotex, you can register, deposit in Kenyan Shillings (KES), and withdraw funds without restrictions.
In this article, we’ll dive deep into how Quotex functions in Kenya, including registration, deposit and withdrawal methods, legal standing, platform features, and tips to get started safely.
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1. What Is Quotex?
Quotex is a digital options trading platform launched in 2020. It allows users to speculate on the price movement of various financial assets over a fixed time. It’s known for its simple interface, fast execution, low minimum deposit, and accessible trading tools.
Unlike traditional forex platforms that rely heavily on charts and margin trading, Quotex is focused on binary/digital options, where you predict whether an asset's price will go up or down within a specific time.
2. Is Quotex Legal in Kenya?
Yes, it is legal to use Quotex in Kenya. There is no official law in Kenya that bans citizens from using international trading platforms like Quotex.
However, it’s important to note:
Quotex is not regulated by Kenya’s Capital Markets Authority (CMA).
Quotex is regulated by the IFMRRC (International Financial Market Relations Regulation Center), which is a non-governmental body.
While it may not be regulated locally, many Kenyans use platforms like Quotex, IQ Option, or Olymp Trade without legal issues. Still, you should always proceed with caution and understand the risks involved with online trading.
3. How to Register on Quotex in Kenya
Getting started on Quotex from Kenya is straightforward:
Go to the Quotex website: Open An Account or Visit Brokers 👈
Fill in your email, create a password, and choose Kenya as your country.
Accept the terms and conditions.
Click Register.
You can also register with a social media account like Google or Facebook if you prefer.
After registration, you can start trading immediately with a demo account that comes with $10,000 virtual funds.
4. How to Deposit Money to Quotex from Kenya
Depositing funds into your Quotex account is easy for Kenyan traders. Quotex supports several payment options:
Accepted Deposit Methods in Kenya:
M-Pesa – the most popular mobile money platform in Kenya.
Bank cards (Visa/MasterCard) – available through local and international banks.
Cryptocurrencies – Bitcoin, Litecoin, Tether (USDT), etc.
Perfect Money and Advcash – useful for users who prefer e-wallets.
How to Deposit via M-Pesa:
Log in to your Quotex account.
Click on Deposit.
Choose M-Pesa as your payment method.
Enter the amount (minimum is $10, about KES 1,400).
Enter your M-Pesa number.
Approve the payment on your phone.
Deposits are usually instant, and the funds will reflect in your trading account within seconds.
5. How to Withdraw Money from Quotex in Kenya
Quotex allows withdrawals through the same methods used for deposits. Kenyan users typically prefer:
M-Pesa
Cryptocurrency wallets
Bank transfer (where applicable)
Withdrawal Tips:
The minimum withdrawal amount is $10.
Quotex does not charge a withdrawal fee.
Withdrawals via M-Pesa usually take between minutes to a few hours, depending on the amount.
Make sure your account is verified (ID and address proof) for faster withdrawals.
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6. What Assets Can You Trade on Quotex in Kenya?
Kenyan users have full access to the asset list available on Quotex. This includes:
Currency pairs (Forex) – EUR/USD, GBP/USD, USD/JPY, etc.
Cryptocurrencies – Bitcoin, Ethereum, Litecoin.
Commodities – Gold, silver, oil.
Stock indices – NASDAQ, S&P 500.
All trades are in the form of digital options — meaning you predict whether the price of an asset will go up or down within a selected time frame (from 1 minute to several hours).
7. Is Quotex Safe for Kenyans?
Quotex is relatively safe, but you should trade wisely. Here's what you need to know:
Pros:
SSL encryption – protects your data.
Fast payouts – especially via M-Pesa.
No withdrawal fees.
Demo account – risk-free practice.
Cons:
Not regulated by Kenyan authorities.
High-risk trading model – digital options can lead to fast losses.
Customer support is online only – no local office.
Use strong passwords, secure your device, and don’t invest money you can’t afford to lose.
8. Why Quotex Is Popular in Kenya
Quotex has become widely used among Kenyan traders because of the following benefits:
Low minimum deposit – start with just $10 (~KES 1,400).
M-Pesa integration – perfect for locals.
User-friendly interface – no prior experience needed.
Free signals and indicators – helps with analysis.
Demo account – practice before using real money.
It’s a good starting point for beginners looking to understand online trading.
9. Taxation: Do You Have to Pay Taxes on Quotex Income in Kenya?
In theory, yes, profits made from online trading are considered taxable income under the Kenya Revenue Authority (KRA). However, in practice, most traders do not report small earnings, and enforcement is limited at the moment.
Still, if you're earning consistently or at scale, it's smart to:
Keep track of your profits.
Consider declaring them in your annual income tax return.
Consult a local tax advisor if you're unsure.
10. Tips for Trading on Quotex from Kenya
If you’re just getting started, follow these best practices:
Start with the demo account – get used to the platform before risking money.
Use risk management – don’t stake more than 5% of your account on a single trade.
Avoid emotional trading – have a strategy.
Don’t chase losses – stick to your plan.
Keep learning – read trading guides, watch videos, join forums.
11. Are There Alternatives to Quotex in Kenya?
Yes, if you want to compare options, here are a few alternatives:
IQ Option – also supports M-Pesa and has a wide asset base.
Binomo – popular for digital options.
Deriv.com – offers synthetic indices and more advanced tools.
Olymp Trade – known for a simple interface and good education material.
Each has pros and cons. Try their demo accounts before settling.
12. Final Verdict: Should You Use Quotex in Kenya?
If you are in Kenya and looking to trade digital options, Quotex is a legit and accessible option. It offers fast deposits and withdrawals via M-Pesa, a low barrier to entry, and a smooth user experience.
But remember:
Trading is risky, and many beginners lose money.
Quotex is not regulated by the CMA, so you're using it at your own discretion.
Always trade responsibly and with a proper strategy.
💥 Trade with QUOTEX now: Open An Account or Visit Brokers 👈
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