CloseOption vs Quotex

CloseOption or Quotex – which is better for UK traders 2024? Compare CloseOption and Quotex in this detailed breakdown of their platforms, features and fees.

CloseOption vs Quotex Comparison Table 2024
CloseOption Quotex
rating empty
rating full
3.8
rating empty
rating full
4.4
CloseOption is ranked #3 among binary options brokers. Quotex is ranked #11 among binary options brokers.
Review
Review
CloseOption is a Georgia-headquartered broker with over a decade in the trading industry. The brand offers high/low binary options trading on forex and crypto markets, with decent payouts, welcome bonuses, 24/7 customer support and intuitive trading software.
Quotex has closed or no longer accepts UK clients.
Quotex has been a top binary options broker since 2019, offering over 400 binaries across currencies, commodities, stocks, and crypto. With contracts spanning 5 seconds to 4 hours, short-term traders enjoy flexibility while payouts that exceed 95%, offer high potential returns. Continuously adapting to trader demands, Quotex provides a user-friendly platform for trading binaries.
Pros
  • New traders can get started with a $5 minimum deposit
  • CloseOption offers weekly trading tournaments with cash prizes
  • The user-friendly platform is compatible with most web browsers
  • Multiple global payment methods are available
  • Free demo account
  • Quotex maintains its position as an excellent choice for short-term binary trading with turbo contracts from 5 seconds
  • Account funding is straightforward thanks to the wide range of payment methods, zero fees and intuitive cashier portal
  • The platform continues to delivers a superb trading environment with strong charting tools for technical traders
  • The $10 starting deposit and $1 minimum stake make Quotex.io accessible to beginners
  • Daily signals are useful for finding opportunities, especially for newer traders
Cons
  • Clients need to deposit $50,000+ to qualify for the best payouts
  • CloseOption is not regulated by a well-regarded trading authority
  • Binary options are only available on fiat and digital currencies
  • Quotex is unregulated, which means traders may receive limited safeguards
  • Despite advertised payouts of up to 98%, testing shows average payouts trail best-in-class broker Pocket Option
  • There is no copy trading, which could support new traders looking to learn from experienced investors
  • Customer support has been weak during tests with no live chat and slow response times
  • Quotex trails industry leaders when it comes to education and market research
FCA Regulated
No

List of FCA Regulated Brokers

No
Instruments
Binary Options on Forex & Cryptos Digital Options on Stocks, Indices, Forex, Commodities, Cryptos
Demo Account
Yes Yes
Minimum Deposit
$5 $10
Payment Methods
Minimum Trade
$1 $1
Regulator
National Bank of Georgia
Mobile Apps
iOS & Android iOS & Android
Trading App

CloseOption’s TradeRoom stands out as a fantastic option for beginners, with its streamlined design minimizing the learning curve. It’s super easy to place short-term trades from 5 seconds with basic charting tools at your disposal. Tutorials and frequent updates with video demonstrations also enhance the experience, while weekly contests are available to skilled traders on the go.

Quotex offers a fully-featured trading app that’s packed with helpful tools, from dynamic charting to in-built signals. It follows the same user-friendly design as the desktop platform, ensuring a smooth transition whether you’re trading from a computer, tablet or mobile device. And with over 1 million downloads and at least 4/5 on the Apple App Store and Google Play Store, it’s proven popular with all types of mobile traders.
iOS App Rating
rating empty
rating full
3.7
rating empty
rating full
4.2
Android App Rating
rating empty
rating full
3.5
rating empty
rating full
4.1
Margin Trading
No No
MetaTrader 4
No No
MetaTrader 5
No No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
No No
Auto Trading
No
Copy Trading
No No
Social Trading
No No
Trade Signals
Daily Trading Signals
VPS Hosting
No No
Tournaments
No Yes
Demo Competitions
Yes No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
0.5% $0
Islamic Account
No No
Account Currencies
  • USD
  • USD
  • EUR
  • GBP
  • INR
  • JPY
  • MYR
  • IDR
  • RUB
  • BRL
  • NGN
  • THB
  • VND
  • UAH
Commodities
  • Gold
  • Oil
  • Silver
Forex
CloseOption offers binaries on 25+ forex pairs, including majors like EUR/USD and a few minors like AUD/JPY. Payouts vary by currency, with decent typical payouts of 75% for GBP/USD. You can trade binaries on 20+ currency pairs including majors, minors and exotics. This is a smaller range of forex assets than leading competitors but payouts are reasonable, climbing to over 80% on the EUR/USD during testing.
Assets
20+ 20+
GBPUSD Spread
No fee - payouts approx. 80% (Copper) N/A
EURUSD Spread
No fee - payouts approx. 80% (Copper) N/A
EURGBP Spread
No fee - payouts approx. 80% (Copper) N/A
Cryptocurrency
CloseOption traders can access high/low binary options on five major cryptos all paired with USD. Payouts of 40% are available due to digital assets' high market volatility, which compares well with rivals. Quotex only offers binary options trading on a handful of cryptos. Yet while the range of digital currencies is narrow, there are leading tokens, including Bitcoin, Litecoin and Ethereum. Payouts on cryptocurrencies are also above average based on routine tests.
Spread
No fee - payouts approx. 40% (Copper) N/A
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • XBT
  • BTC
  • LTC
  • ETH
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Binary Options
CloseOption offers binary options trading on 30+ fiat and digital currencies through an easy-to-use web-based platform. 15 contract timeframes are available from 30 seconds to 1 month, suiting both short-term and long-term traders. New users also get a joining gift. Quotex continues its streak near the top of the industry with ultra-short-term binaries on hundreds of assets. The binary broker provides a web platform that delivers a terrific user experience with a clean design, multiple charting styles, dozens of indicators and daily signals.
Payout
95% 98%
Expiration Times
30 seconds - 1 month 5 seconds - 4 hours
Boundary Options
No No
Ladder Options
No No
CloseOption Quotex
Review
Review
More Comparisons
CloseOption
vs

 Quotex
vs