Company Summary
Company Summary
Company Profile
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
| Feature | Detail |
| Regulation | unregulated |
| Market Instrument | Forex, indices, commodities, stocks, and cryptocurrencies |
| Account Type | Standard, Pro, VAR, and Mini |
| Demo Account | yes |
| Maximum Leverage | 1:500 |
| Spread | Vary on the account type |
| Commission | Vary on the account type |
| Trading Platform | MT4 |
| Minimum Deposit | $25 |
| Deposit & Withdrawal Method | Bitcoin, wire transfer, credit/debit cards |
KOT4X, a trading name of KOT4X Ltd., is a crypto and forex broker registered in Saint Vincent and the Grenadines that aims to provide investors with 250+ instruments with flexible leverage up to 1:500 and floating spreads from 0.4 pips on the MT4 trading platforms via four different live account types, as well as 24/7 customer support service. Here is the home page of this brokers official site:
Note: The screenshot date is January 17, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
Safety Analysis of KOT4X
The most important criterion to measure the safety of a forex platform is whether it is formally regulated. KOT4X currently does not hold a license authorized by any regulatory body, so it is a forex trading platform full of risks. Investors should be careful to avoid KOT4X as a trader to prevent loss of funds.
Market Instruments
Traders can trade major currency pairs, cross-currency pairs, odd currency pairs, cryptocurrencies, indices, gold, silver, and other metals, stocks, and futures through the KOT4X brokerage firm.
Account Types
Apart from demo accounts, KOT4X offers four live account types: Standard Accounts, Pro Accounts, VAR Accounts, and Mini Accounts, with minimum initial deposit requirements of $50, $500, $250, and $25 respectively.
Leverage
KOT4X offers flexible leverage from 1:100 to 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
Spreads and commissions with KOT4X are scaled with the accounts offered. KOT4X Standard Account has a spread of 0.8 pips and a commission of $7 per lot. Spreads on Pro Accounts start from 0.4 pips, and the trading commission is $7 per lot. Spreads on VAR Account start at 1.2 pips and no trading commission. Mini Account spreads start at 1.0 pips, and the trading commission is $1 per lot.
Trading Platform
KOT4X offers traders the MT4 trading platform and MT4 Desktop, MT4 Web, MT4 iOS, and MT4 Android to meet a wide range of clients needs. MT4 is an ideal forex trading platform available, with robust charting and data analysis tools that help traders develop trading strategies that suit their needs and allow them to have a good trading experience.
Deposit & Withdrawal
Traders can deposit or withdraw funds to or from their KOT4X account via Bitcoin, wire transfer, credit/debit cards, etc. The minimum initial deposit requirement is said to be just $10. There is a 5% fee for deposits via credit/debit card.
Customer Support
KOT4X‘s customer support can be reached by email: support@kot4x.com, request a callback or send messages online to get in touch. You can also follow this broker on social networks such as Instagram and LinkedIn. However, this broker doesn’t disclose other more direct contact information like telephone numbers or the company address that most transparent brokers offer.
Pros & Cons
| Pros | Cons |
| • Multiple trading assets | • Unregulated |
| • Demo and Mini accounts offered | |
| • Low minimum deposit ($25) | |
| • MT4 supported |
Frequently Asked Questions (FAQs)
| Q 1: | Is KOT4X regulated？ |
| A 1: | No. It has been verified that KOT4X currently has no valid regulation. |
| Q 2: | At KOT4X, are there any regional restrictions for traders？ |
| A 2: | Yes. Restricted Countries include, but are not limited to, individuals residing in:Afghanistan, Botswana, Burma (Myanmar), Democratic Republic of Congo, Crimea, Cuba, Ethiopia, Iran, Iraq, Japan, Kenya, Lebanon, Libya, Malta, North Korea, Pakistan, Republic of the Congo, Russian Federation, Somalia, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Vietnam, Yemen, Zimbabwe. |
| Q 3: | Does KOT4X offer demo accounts？ |
| A 3: | Yes. |
| Q 4: | Does KOT4X offer the industry-standard MT4 & MT5？ |
| A 4: | Yes. KOT4X supports MT4. |
| Q 5: | What is the minimum deposit for KOT4X？ |
| A 5: | The minimum initial deposit at KOT4X to open a Mini account is $25. |
| Q 6: | Does KOT4X charge a fee？ |
| A 6: | KOT4X charges a 5% fee for deposits via credit/debit card. |
| Q 7: | Is KOT4X a good broker for beginners？ |
| A 7: | No. KOT4X is not a good choice for beginners. It advertises very well though, it lacks legitimate regulations. |
Mayaz Ahmad
Bangladesh
A client claims he could not withdraw his deposit from KOT4X and they did respond when he communicated this problem to them. He has warned others to stay away from this broker.
Exposure
Mayaz Ahmad
Bangladesh
Many clients have complained that they were scammed in various ways by this broker. Stay away.
Exposure
no9117
South Africa
I met a lady on Facebook by the name of Melinda Siew, she's a trader, we came to an agreement sometime ago that she will do a trade for me when a profit is made I withdraw and gave her 30%. I deposited the money into Luno account and it was transferred to a platform which she sent me a link, it's name is easymarkest.com. she did a trading then tell me that I must not forget about 20% before withdrawal then our dispute started there.
Exposure
FX1525691881
Malaysia
I was initially drawn in by their user-friendly account-opening procedures, but soon after I was faced with questionable regulatory transparency. Finding detailed documentation was like hunting for a needle in a haystack, which is troublesome for anyone negotiating the landscape of forex trading. The trading platform's performance leaves much to be desired, with sporadic freezing and lagging issues. This has led to unwelcome slippage and incurable headaches for me, impacting my trading strategies gravely. Adding to the list is their frustratingly wide spreads, which eat into any possible profit margins, and high commissions. More often than not, I was left feeling like I was fighting against a tide, and not just the forex market.
Neutral
Hibbs
United States
platform was placing trades in my trade account which was slowly deteriorating my account ,I did not realize this was happening until I started to journalize each trade I took
Exposure
小如改名叫昀泽r
Egypt
I really appreciate KOT4X’s customer service. They respond quickly and help you with my problems, very understanding. But the withdrawals can enter a little bit faster.
Neutral
量化
Malaysia
The whole thing was a horrible experience for me. The withdrawal request I sent was ignored, and customer service took an extremely long time to respond to. While making a deposit is simple, withdrawing funds is a major hassle. Even when I informed them that the sizes of their positions were inaccurate, they did nothing to correct the situation. The correct price for a 0.10 position size is $1, not $10!
Neutral