Quotex in India: How to Deposit Money with Bank Cards and Other Methods

WHAT IS QUOTEX IN INDIA?

Quotex in India is an online platform that facilitates online trading. Online trading is a form of financial derivative where traders can speculate on the price movement of various underlying assets.

Quotex acts as a bridge between traders and the financial markets, providing Indian traders with a platform to execute trades and access a range of online trading contracts. 

Indians can typically open an account with Quotex, deposit funds, and then use the broker’s trading platform to place trades based on their predictions of whether the price of the underlying asset will rise or fall within a specified timeframe.

Payment Methods for Depositing Money with Quotex in India

Indian traders who choose Quotex as their online trading broker will have access to various payment methods for depositing money. These payment methods are bank cards such as Visa Mastercard, cryptocurrencies such as Bitcoin, and e-payment methods such as Perfect Money.

Payment methods in Quotex are governed by a robust payment policy on their website.

BANK CARD DETAILS

You can deposit into your Quotex account in India with bank cards. Doing so is quick, secure, and convenient. On Quotex, you can enjoy fraud protection, quick access to funds, and international transactions.

You must provide bank card details to start the payment process into your Quotex account in India. These details include the cardholder’s name, the card number, and the card’s expiration date.

Accepted Cards and Currencies

Quotex offers card options such as Visa Mastercard, RuPay, and Mastercard. The Visa Mastercard has a minimum deposit of 4,134.80 Indian Rupees and a maximum of 826,961 Indian Rupees. In comparison, Mastercard has a minimum deposit amount of 4,134.80 Indian Rupees and a maximum of 89,307.31 Indian Rupees.

Indians can use the following currencies on the Quotex platform:

• United States Dollar (USD)
• Euro (EUR)
• British Pound (GBP)
• Brazilian Real (BRL)
• International Depository Receipt (IDR)

How to Deposit by Bank Card

Making a bank card deposit in India is simple if you follow the steps outlined below.

1. Open the Quotex platform, then click the deposit button in the top right corner.

2. Choose the deposit option from those provided by Quotex. In this case, you will choose the bank cards option on the left side of the open tab.

3. Input the amount you want to deposit, keeping in mind that bank card options have cash limits attached.

4. Choose a bonus type of your liking. This section is optional.

5. Finish the deposit process by clicking “Deposit” and confirming your payment.

Fees Associated with Using Bank Cards

Indians can deposit in Quotex using bank cards for free. Quotex does not charge traders for depositing. Traders might, however, encounter fees from their respective banks. These include transaction fees and foreign transaction fees. 

Benefits of Using Bank Cards with Quotex in India

Using bank cards to deposit with Quotex in India has many benefits, such as the following:

1. Fraud protection: Many bank cards come with built-in fraud protection mechanisms. If unauthorized transactions occur on your card, most banks offer a certain level of liability protection, allowing you to report and dispute fraudulent charges, ensuring you don’t bear the financial burden.
2. Quick deposits: Bank card deposits are typically processed in real time or with minimal delay, allowing you to quickly access the funds and start trading with Quotex in India. 
3. International transactions: Bank cards are generally accepted worldwide, making them convenient for international website transactions. You can easily make deposits with Quotex in different currencies without needing currency conversions, saving you from potential exchange fees or complications.
4. Record keeping: Bank card transactions provide a clear and easily accessible record of your deposits on Quotex in India. This can be helpful for budgeting, tracking expenses, or reconciling any discrepancies in your financial statements.

OTHER PAYMENT METHODS

Apart from bank cards, Quotex in India offers numerous other payment methods. Let’s take a closer look at these, including their pros and cons.

E-Wallets and Online Banking Options

E-wallets, or electronic or digital wallets, are digital systems that allow individuals to store, manage, and transact money electronically. They are digital versions of traditional physical wallets carrying cash and cards. Quotex in India allows traders to deposit funds into their accounts using e-wallets such as Reliance Jio and Perfect Money. 

Online banking options are also offered by Quotex in India. The platform allows users to transfer money from their accounts into the platform’s bank account.

Cryptocurrency Payments and Fees

Quotex also supports cryptocurrency payments in India. Cryptocurrencies refer to digital or virtual currencies that employ cryptography to ensure security. They are decentralized and commonly function on blockchain technology, a distributed ledger that registers all transactions across a network of computers.

In contrast to conventional currencies issued by governments, cryptocurrencies generally lack control from a central authority like a central bank. Instead, they depend on cryptographic methods to safeguard transactions. 

Cryptocurrencies’ decentralized nature and cryptographic security render them resistant to censorship and fraud. Quotex in India supports cryptocurrencies such as Binance Pay, USD Tether, Binance Coin, Binance USD, Ethereum, BitCoin, Litecoin, and many more.

Additionally, Quotex in India has no charges for depositing using cryptocurrencies. 

Other Payment Methods Supported by Quotex in India

Other payment methods supported by Quotex are credit cards, debit cards, and bank transfers.

Pros and Cons of the Different Payment Options Available at Quotex in India

Benefits of Using E-Wallets in Quotex

• Convenience: E-wallets provide a convenient and hassle-free way to deposit on Quotex. Indian traders can link their bank accounts or credit/debit cards to their e-wallet accounts and easily transfer funds with just a few clicks. This removes the need to manually enter payment details for each transaction, saving time and effort.
• Security: E-wallets offer an added layer of security for online transactions. When using an e-wallet, users don’t have to share their sensitive financial information, such as credit card details, directly with Quotex. Instead, they can make payments using their e-wallet account, which adds extra protection against potential data breaches or fraudulent activities.
• Privacy: E-wallets can help maintain privacy by shielding personal and financial information. When making deposits using an e-wallet, Quotex sees only your e-wallet account information, such as your email address or username, rather than your full banking or card details. This can be especially good for individuals who value their privacy and want to limit the exposure of their financial information.
• Speed of transactions: E-wallet deposits are typically processed quickly, allowing Indian traders to fund their Quotex accounts instantly. This enables them to start trading without delay. Compared to traditional payments like bank transfers or checks, e-wallet transactions are usually much faster, providing a seamless user experience.
• Accessibility: E-wallets are often widely accepted across various websites and platforms. They are compatible with various devices, like smartphones, tablets, and computers, allowing users to make deposits from anywhere with internet access. Moreover, e-wallets can support multiple currencies, facilitating transactions for users from different countries or regions.

Disadvantages of Using E-Wallets in Quotex

• Transaction fees: E-wallet providers may charge transaction fees for depositing funds to Quotex in India. These fees can vary depending on the e-wallet service and the transaction amount. If you frequently use e-wallets for deposits, these fees can add up and impact your overall expenses.
• Security concerns: While e-wallets generally employ security measures to safeguard user data, there is always a risk of security breaches and unauthorized access. If a hacker gains access to your e-wallet account, they may be able to manipulate your funds or access personal information. Choosing reputable e-wallet providers and taking appropriate security measures to safeguard your account is crucial.
• Dependency on internet connectivity: E-wallets rely on internet connectivity for their functionality. A poor or unreliable internet connection may impede your ability to make deposits on Quotex in India using e-wallets. Additionally, technical issues or server downtime on the e-wallet provider’s side can temporarily disrupt access to your funds and hinder transactions.

Advantages of Using Cryptocurrencies in Quotex

• Fast and efficient transactions: Cryptocurrencies operate on decentralized networks, allowing for near-instantaneous transactions. This eliminates the need for traditional banking systems, reducing transaction processing times and potential delays.
• Lower transaction fees: Cryptocurrencies often have lower transaction fees than traditional payment methods. This is particularly beneficial for Quotex in India, which handles large deposit transactions, as it helps reduce costs.
• Enhanced security: Cryptocurrencies offer robust security features due to their cryptographic nature. Blockchain technology, which underlies cryptocurrencies, ensures transparent and tamper-resistant transaction records. This can help prevent fraud, chargebacks, and other security concerns associated with traditional payment systems. Your payment to Quotex in India will be secure.

Disadvantages of Using Cryptocurrencies in Quotex

• Volatility: Cryptocurrencies, such as Bitcoin, are highly volatile. Their values can fluctuate significantly within short periods. This poses a risk to both Quotex and Indian traders. If the cryptocurrency’s value drops sharply after a deposit, Quotex may incur losses or struggle to convert the funds into fiat currency. Similarly, Indian traders may find their deposits significantly reduced when they withdraw.
• Possible delays and fees: The decentralized nature of cryptocurrencies means that transaction speeds and fees can vary greatly depending on network congestion. Cryptocurrency transactions may experience delays or require higher fees to ensure timely processing during high demand or network congestion. This can result in inconvenience and frustration for the Indian traders on Quotex.

SECURITY MEASURES TAKEN BY QUOTEX IN INDIA TO ENSURE THE SAFETY OF FUNDS

Quotex in India has put in place security measures to ensure the safety of its trader’s funds. You can trade with peace of mind knowing your funds are protected using the following verification processes.

Verification Processes Involved in Making Deposits

• Two-factor authentication (2FA): Quotex in India employs 2FA to add a layer of security during the login process. This typically requires traders to provide a second verification through a unique code sent to their mobile device and username and password.

• Strong Password Policies: Quotex enforces a strong password policy, requiring Indian traders to choose complex passwords that combine letters, numbers, and special characters. This helps prevent unauthorized access due to weak or easily guessable passwords.

BOTTOM LINE

Quotex in India offers numerous deposit options, including bank cards, with an easy step-by-step process. Each of the methods that are offered has its respective pros and cons. Indian traders have the luxury of selecting from all the available deposit options.