How is currency conversion handled when depositing/withdrawing funds on the Quotex platform?

When depositing or withdrawing funds on the Quotex platform, it’s important to understand how currency conversion works to avoid misunderstandings and ensure the proper execution of transactions. Quotex uses its own exchange rate, which may differ from the rates offered by banks or other sources. Let’s take a closer look at how currency conversion works and what you should keep in mind when performing transactions.

1. Exchange rate on the Quotex platform 📊
   The exchange rate on the Quotex platform is determined by the company and updated daily. This rate may differ from those provided by banks in different countries or other sources of information. When changing the account currency, you’ll see the current rate and the final amount that will be credited to your account.

⚠️ Important: Quotex does not change the exchange rate upon request. The rate is fixed and cannot be adjusted. Therefore, when depositing or withdrawing funds, you should take into account the current exchange rate, as the final amount may differ from what was expected based on other rate sources.

2. Currency conversion when depositing 💳
   When making a deposit, users must be aware of the exchange rate applied at the time of the transaction. Usually, the deposit crediting time is up to 48 hours, but for cryptocurrencies, the timeframe may be shorter — up to 24 hours. If the deposit hasn’t been credited within this time, the user should contact support no later than 3 days after payment. If you contact later, the payment provider may not guarantee a successful investigation.

📑 To submit a request regarding a deposit, the client must go to the “Deposits/Withdrawals” section in support, providing necessary data such as the payment receipt and transaction ID.

3. Currency conversion when withdrawing funds 💰
   When withdrawing funds, the exchange rate applicable at the time of the transaction will be used to determine the final amount in the selected currency. If the withdrawal hasn’t been received, the client must submit a request no earlier than 5 days (120 hours) after the withdrawal request. For cryptocurrency withdrawals, the wait time is 24 hours.

📑 To resolve a withdrawal issue, the client must create a ticket in the “Deposits/Withdrawals” section, specifying the withdrawal ID and attaching a PDF bank statement from the withdrawal date. The statement must contain clear transaction details; screenshots or edited files will not be accepted.

4. Possible problems with currency conversion ⚠️
   Although the platform guarantees the correct application of exchange rates, issues may arise if incorrect withdrawal details were provided. In such cases, Quotex will provide confirmation of the successful transaction or a tracking number, which can be used to contact the bank or payment system for further investigation.

5. Conclusion 📝
   Currency conversion on the Quotex platform is carried out at an exchange rate that is updated daily and may differ from rates from other sources. When depositing and withdrawing funds, it’s important to stay attentive to the current exchange rate and correctly submit requests in case of issues. By following the correct procedure for submitting requests and providing necessary documents, you will be able to quickly resolve issues with deposits and withdrawals.