Quotex Strikes Again: ₹50,000 Deposit Vanishes into Thin Air as Support Shuts Down Case Over "Wrong Receipt"

"Money deducted, account not credited, ticket closed." For many users of Quotex, this sequence of events has become an unbreakable curse. Recently, an Indian trader submitted a complaint to BrokersView, stating that a substantial deposit of ₹50,000 was confirmed as successful by his bank but marked as "Failed" by Quotex. Despite the user providing detailed proof of the UPI payment, Quotex support forcibly closed the complaint channel, claiming "funds not received." This is not an isolated incident; from thousands to tens of thousands of rupees, Quotex’s "deposit black hole" is swallowing the principal of an increasing number of traders.

Where Did the ₹50,000 Go? A Rejected Payment Receipt

Indian user "User_MNIa" stated that at 10:23 AM, he transferred ₹50,000 via Paytm to the UPI ID provided by Quotex (gpay-12190618992@okbiz axis).

According to the bank receipt provided by the user (UPI Reference No: 392901578296), the funds were successfully deducted from his Union Bank account. However, in Quotex's trading backend, this deposit (ID #104043479) was coldly marked as "Failed."

When the user presented irrefutable proof of payment to customer support, he received deflection rather than a solution. Quotex support insisted that "the receipt does not belong to us" and demanded the "correct receipt." Just as the user attempted to explain that a potential UTR entry error during the first attempt might have caused a system recognition issue, and tried to resubmit the correct information, support delivered the final verdict: "We cannot find this payment in our system and cannot refund." Subsequently, the ticket was summarily closed.

From 4,000 to 50,000: Missing Deposits Become the Norm

This is not the first time Quotex has faced complaints for swallowing user deposits. BrokersView's long-term tracking reveals a highly consistent pattern of "money eating" by the platform:

September 2025: BrokersView reported a trader's ₹4,000 deposit mysteriously vanished. Although the bank deduction was successful, the Quotex backend remained stuck on "Processing" before finally turning to "Failed," with a refund refused.

October 2024: Another user complained that a ₹3,000 UPI deposit had not been credited after 48 hours. Similarly, customer support chose to go silent after receiving the bank statement.

Flashing Regulatory Red Lights: An Unlicensed Global Harvester

As seen on the BrokersView review page, as early as December 2021, Italy's CONSOB added Quotex to its warning list for providing unauthorized financial services. Following this, in January 2023, Portugal's CMVM issued a similar warning.

Even more alarming is that Quotex claims its operating entity is Maxbit LLC, registered in St. Vincent and the Grenadines (SVG). However, a BrokersView investigation in September 2023 revealed that this entity is no longer found in the SVG FSA registry, meaning its only so-called "registration" has long been deregistered.

In April 2025, the Securities and Exchange Commission of Pakistan (SECP) explicitly warned against Quotex, stating it is unauthorized and recommending that Google and local telecom authorities block its domain.

BrokersView Warning

Quotex currently operates outside of regulatory oversight through multiple domains such as qxbroker.com and quotex.io. It possesses neither a legitimate financial license nor any third-party dispute resolution mechanism.

BrokersView solemnly reminds you once again: If you have encountered similar issues with missing deposits or rejected withdrawals, please retain all payment proofs and communication records, and submit a complaint to BrokersView as soon as possible.