de | cn | ru

KOT 4X Review - is it scam or safe?

KOT 4X review - Is kot4x.com scam or good forex broker?

RATING: 1 / 3 REVIEWS ForexBrokerz KOT 4X
KOT 4X is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


KOT 4X is an offshore forex and CFD broker, offering three account types with a leverage of up to 1:500 and the MetaRader4 platform. Unfortunately they are not regulated, so if you are thinking about trading with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Standard ECN Account $50 1:500 n/a
ECN/Pro Account $500 1:500 n/a
Gold/VAR Account $250 1:500 n/a

 

KOT 4X Advantages:

 

A fine selection of trading instruments

 

KOT 4X definitely offers a fine selection of trading instruments – 55 currency pairs, many of which cross pairs or exotic like USDCNH, USDCZK, USDDKK, USDHKD, USDHUF, USDILS, USDMXN, USDNOK, USDPLN, USDRUB, USDSEK, USDSGD, USDTRY and USDZAR. And they also have in their portfolio a selection of CFDs on oil, natural gas, silver, gold, platinum and palladium, 11 indices, stocks and crypto coins line Bitcoin, Bitcoin Cash, Dash, Eidoo, EOS, Ethereum, Metaverse, IOTA, Litecoin, NEO, OmiseGo, Santiment, Tron, Monero, Ripple and Zcash. Still, if you are interested in trading crypto you may also check our list of brokers trading with bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Leverage as high as 1:500

 

We rarely see such leverage these days, especially since regulators throughout Europe, Canada, the US and Japan restricted high margin trading because of the imminent risks associated with it. Still if you are tempted by the idea of trading with higher margin, you can also check our list of brokers regulated in Australia – the only major regulatory hub where leverage remains unrestricted:

 

>>Brokers regulated in Australia<<

 

You can start trading with just 50 USD

 

You can open a trading account at  KOT 4X with just 50 USD and that is fine. Still, bear in mind that some big players like FBS and IG do not have a minimum deposit requirement at all.

 

MetaTrader4 supported:

 

The presence of MetaTrader4 is a welcome news. This is a highly reliable trading platform, featuring numerous market indicators, advanced charting tools and even customizable trading bots, with which one can easily run automated trading sessions. And besides, here you may take a look at our list of brokers, supporting the MT4 as well:

 

>>MT4 Brokers<<

 

KOT 4X Disadvantages:

 

An offshore, unregulated broker

 

KOT 4X is owned by KOT4X LTD, which is based offshore on the beautiful islands of St.Vincent and the Grenadines in the West Indies. This is a former British colony, which became independent in 1979 and currently is one of the preferred destinations for all kinds of offshore businesses, including shady forex brokers like KOT 4X, because of the loose registration regime, and the lack of financial regulation at least as far as forex and CFD brokers are concerned.

 

Trading with unregulated brokers like KOT 4X has always been extremely risky – such companies are completely unaccountable for the way they handle your money and basically, if you trade with them, you will have to trust the integrity of the people, who operate the website.

 

Trading with properly regulated brokers on the other hand is safe. Our advise is to chose only among brokers regulated by legit institutions such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC). 

 

And besides, with a FCA broker you will have the extra protection of a client compensation fund, basically insuring your funds for up to 85 000 GBP, so here you may check our list of brokers regulated in the UK:

 

>>FCA Regulated Forex Brokers<<

 

Terms and Condition not available

 

Generally, when you open a trading account with a broker, you agree with some Terms and Conditions. In the case of KOT 4X the link to their  Terms and Conditions was not working, so basically if you open an account with them you will have to agree with something you have not read.

 

Payments accepted only with bitcoins

 

In our view this is highly unusual, as KOT 4X is not a crypto exchange, but basically a forex and CFD broker. Actually, the only plausible explanation is the anonymity of the crypt payments. 

 

Bitcoin payments are more or less anonymous and you definitely will not have the chance to file for a charge back – an option you always have with credit card providers like VISA and MasterCard. In any case, here you may also check our list of brokers accepting bitcoins as payments:

 

>>Forex Brokers Accepting Bitcoin<<

 

No demo account readily available

 

Because we were not able to open a demo account with  KOT 4X, we can not comment their spreads. The only information on their website regarding spreads was in connection with their trading commission - with all account types they take a trading commission of 7 USD per standard lot, which basically adds another 0,7 pips to the spread. In any case, here you may also check our list of brokers, offering tighter spreads:

 

 >>MT4 Brokers<<

 

Conclusion:

 

As we noted KOT 4X is an offshore broker without a license to operate on regulated markets like the EU, the US, Australia, Canada or Japan. So if you value the safety of your funds, better chose among our list of brokers, regulated in Europe:

 

 >>Forex brokers in EU<<

Latest news about KOT 4X
No news about KOT 4X. Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for KOT 4X

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Kot4x is a horrible broker

Kot4x is a horrible broker I had a stop loss set and it didn’t activate and I lost way more money then I should of I contacted them and they didn’t want to refund my money don’t use this broker they don’t take responsibility to glitches in there system.

Eduardo Maldonado 12/08/2019

Deposit disappeared & account is nagative.

I was planning on joining the $200 challenge but decided to test the deposits first. As it says $10 min deposits I sent $20 in BTC but when transaction was completed my wallet was instantly nagative -$0.68 & my deposit was nowhere to by found....

There is not way I’m depositing another dime into his broker...

Chris 08/24/2019
de | cn | ru