Every binary options trader has probably come across this kind of ad at least once: “We will refund your losses” or “We will buy your negative Quotex account”. The unforgiving statistics of binary options trading tell us that most beginners lose their deposit within the first year. When a novice trader sees such an ad, the question naturally arises: could this be a chance to recover at least part of the losses?
In this review, we look at whether these tempting offers are worth trusting, and whether it makes any sense to sell your own negative Quotex account.
Contents:
- What Is a Negative Account?
- How People Try to Make Money on Negative Quotex Accounts
- Does It Make Sense to Sell a Negative Quotex Account?
- Conclusion
What Is a Negative Account?
A negative account on Quotex is an account with this binary options broker that has a long history of losses. By “history” we usually mean a meaningful number of trades over time. The owner of such an account has lost more often than won, and has eventually wiped out their deposit.
Occasionally, there are unusual cases where a trader manages to push their balance into actual negative territory. This can happen when bonus funds are used in trading — for example, bonuses given by the broker for registration, deposits, reaching a certain turnover, loss compensation, and other promotions.
Who Needs a Wiped-Out Quotex Account?
It is fair to ask: what is it about a wiped-out account that appeals to buyers? The answer is that professional binary options traders and bonus hunters know how closely Quotex monitors trade sizes. The broker's anti-fraud system is highly sensitive to aggressive capital management strategies based on the Martingale system, and there have been cases where such tactics led to the account being blocked.
With a negative Quotex account, the broker sees no cause for concern, since the account owner has not been generating consistent profits. For that reason, loss-making accounts do not attract the attention of the company's security team and, as a rule, retain high per-trade limits.
Why Do People Buy Accounts with Negative Balances?
The first reason is to build up a deposit on the Quotex platform using aggressive trading strategies. Buyers of these accounts believe that, for a period of time at least, they will be able to stay below the radar of the anti-fraud algorithm (“anti-fraud” here meaning measures designed to combat fraudulent activity).
The second category of buyers is bonus hunters. They look for accounts on which the available bonuses have not yet been used, hoping to take advantage of the broker's free funds for their own benefit.
Finally, such accounts are also actively used by scammers who exploit Quotex accounts to carry out illegal financial transactions, most often connected with money laundering. The scheme involves depositing money into the account through one channel and withdrawing it through another. Money withdrawn from the brokerage account then appears legitimate, since it looks like profit from binary options trading.
How People Try to Make Money on Negative Quotex Accounts
Offers to buy wiped-out Quotex accounts can be found on various social networks, forums, and even in private messages or comments under YouTube videos. As a rule, these offers target loss-making accounts with this broker, and the ads typically mention loss amounts starting from $500.
From there, several standard “schemes” come into play, depending on the experience and skill of the “buyer”.
Option 1: The Account Is Topped Up by Its Owner
The simplest and most common form of “cooperation” is when the seller tops up the account themselves. In this case, they deposit a small amount into their own account — from a bank card or an electronic payment system, for example — and then hand the account over to supposedly professional account managers.
In reality, the best-case scenario is that, once the deposit is funded, a trading robot using an aggressive capital management method gets connected to the account. The “assistants” then open several large trades and wait for the outcome. If they get lucky and the trades close in profit, they use that as an argument for getting the owner of the wiped-out account to deposit a larger sum — after all, as they will tell you, they don't work with such small amounts.
The really interesting part begins once larger sums are credited. In one variation of this “unexpectedly profitable partnership”, the scammers ask the trader to transfer the funds to their own account details. Strange as it may sound, some particularly trusting Quotex clients agree to this highly questionable step — apparently impressed by the “professionalism” of the managers. Of course, after that all contact with these “trading masters” is lost entirely, leaving the trader to wonder where, exactly, they went wrong. Feel free to share your guess in the comments.
There is another, equally brazen variation of “partnership”. When you top up your account with a large amount, you are offered a supposedly exclusive promo code that will help you grow your deposit further and trade more safely.
The catch: the promo code you enter when topping up your account is linked to the scammers' affiliate account. From that point on, they earn commission on each of your losing trades — and you have clearly shown that you are good at producing those, otherwise why would you be selling a wiped-out Quotex account in the first place?
Option 2: The Account Is Topped Up by the Buyer
There is an even more sophisticated version of “mutually beneficial cooperation”. A robot is connected to your account that uses a direct data feed from the exchange to receive quotes for various instruments faster than they appear in the Quotex trading terminal. Knowing in advance which direction the price is about to move, the robot opens a trade and effectively exploits inside information — which is a direct violation of the Quotex Trading Regulations.
As stated in section 2.5.2 of that document, Quotex prohibits the use of any automated systems for opening trades on its platform. It is not hard to guess what happens next: as soon as the broker detects this kind of trading, the account is blocked, with no possibility of withdrawing the funds.
Does It Make Sense to Sell a Negative Quotex Account?
At first glance, the idea of selling a negative Quotex account can seem very tempting. For inexperienced traders, it looks like a real chance to recover at least part of their losses. However, after looking into this question in detail, we have reached a clear conclusion: it is not worth doing, as the risks are too high.
By handing your account over to a third party, you lose control of it, which means you have no way to guarantee it will not be used for illegal purposes.
Conclusion
In short, the only people who make money “promoting” negative accounts are the ones offering to buy Quotex accounts in the first place. The owners of these accounts do not recover their lost capital and, more often than not, expose themselves to serious legal problems. It really is not worth the risk.
Instead of getting involved in dubious schemes, we recommend taking a step-by-step binary options training course and using proven strategies and indicators, of which there are plenty on our website.
Find the best bonuses, promo codes, and contests for Quotex on our social media: Telegram Group | Facebook Group.
See Also:
- Quotex Broker Affiliate Program
- Strategies for the Quotex Broker
- How to Choose the Right Binary Options Broker
- Strategies for Binary Options
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