In this KOT4X Review, we are going to take a look at the offer that this broker prepared for its traders. KOT4X operates on the financial market since When it comes to trading 15/08/ · 1 star review by Mike, USA I traded with Kot4x for over a year and had tons of issues with them! The slippage on us 30 is crazy one time I was up with a stop loss at 10/04/ · Open trading accounts with at least two brokers. KOT4X is an offshore Forex brokerage registered in St. Vincent and the Grenadines. It provides the MetaTrader 4 What we noticed when it comes to Kot4x is that there are multiple types of accounts and that they all come with their own fees. In fact, three of the four types come with fees. The 08/03/ · KOT4X Broker Reviews The customer also hereby confirms that these funds are free of any liens or debts, are clean and non-criminal in origin and do not originate from ... read more
Look here! No, KOT4X is not a licensed or regulated broker. Forex brokers in the United States must be licensed and regulated by the CFTC, otherwise your cash is not protected.
Officially they are owned and operated by KOT4X Ltd, and located on the Caribbean island of Saint Vincent and the Grenadines. There is no street address or listed phone number for them, however the customer support email is: [email protected]. For complaints and issues with withdrawing your money, read this. Today you will find many multi level marketing scams online, and most people end up losing their money. When you see that they hold a valid license from your governments financial regulator, you can be sure that they are a legitimate broker.
There are so many Forex brokers to compare and choose from online, just look here. In KOT4X there are available several account types.
On all the accounts there is set up the Market execution, i. there will no requote and the trades will be executed anyway, though the price is not guaranteed. Maximum leverage is which is pretty common for brokers that are not regulated and this might be the benefit for those who are willing to have lower margin requirements in comparison to FCA or CySEC regulated brokers that allow leverage up to Moving forward to particular accounts, there are Standard Pairs, PRO Pairs, VAR Pairs, and MINI Pairs.
On all the accounts besides MINI Pairs there are available FX, Indices, Commodities, Stocks, Metals, and Cryptocurrencies, while on MINI Pairs there are available only currency pairs, and their number is limited to 29 while on others there are There is available a Swap Indicator that makes finding the positive swaps easier and faster.
The Standard Pairs account type has a typical spread of 0. The commission on the PRO Pairs account is the same, while the spreads on this account type start from 0. The VAR Pairs account spreads start from 1. This account is a true average in comparison to other accounts of KOT4X. Among the available payment methods, there is only Bitcoin available. The broker states that the users do not have to reveal sensitive information like bank or card details, because there are no financial institutions involved in such transactions.
Though the true reason might be the fact the banks, payment, and processing systems work only with regulated companies. Due to the fact that KOT4X does not have any license, there is no chance for any solid financial institution will make a contract to allow a service to the end-users of the broker. Cryptocurrencies also add a layer of insufficient funds safety because there is no third-party organization involved that may help in case of some dispute with a broker.
This means that if the bitcoins are transferred to the broker, then it will be impossible to get them back if a conflict of interest occurs because the blockchain transactions are irreversable. The support methods available in KOT4X are limited only to an email. There is no live chat or phone support that is offered by almost all the brokers from our reviews.
There is also no ticketing system in the client area that could help to track the questions that have been raised. Having only email support means that the broker does not have enough staff to maintain the live chat and enough money to operate the call-center.
When it comes to trading platforms, the broker features MetaTrader 4. The KOT4X minimum deposit is 10 USD. You should consider whether you can afford to take the high risk of losing your money. The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with.
For instance, in the European Union, the financial regulator ESMA restricts the maximum available leverage to when trading major currency pairs, when trading minor pairs and commodities and when trading cryptocurrencies. Similar restrictions apply in Australia and possibly in other jurisdictions. In accordance with our research, KOT4X is an offshore unregulated broker. This alone does not mean it is a scam, but you should be even more careful with such a provider than with a regulated broker.
In order to be sure that KOT4X is not a scam, read our trader reviews and check other popular trading related websites and forums. However, because it is a broker that in accordance with our research lacks any regulation, we would be quite sceptical if we were to trade with such a provider.
While there is a decent chance that KOT4X is not a scam, there is no reason to take the risk of trading trade with an unregulated broker, especially when considering there are hundreds of brokers regulated in the EU, Australia, Africa and the USA offering similar or even better trading conditions. Broker Regulated by Regulatory agencies ensure that brokers operate in a transparent and honest way.
Kot4x is an unregulated broker known to allow people to trade CFDs online using the MetaTrader platform. Despite the wide variety when it comes to the types of accounts and trading instruments, they only accept bitcoin funding.
Pros and cons are easy to find. So, below we are going to take a look at this broker and review it for you. Kot4X is officially owned and operated by Kot4x Ltd. All you can find is an email address for contact. This, again, seems pretty sketchy. The company is registered in St. Vincent and the Grenadines, a popular and well-known offshore zone that is frequently used by unregulated brokers, or brokers that want to offer high leverage and trading bonuses.
As mentioned earlier, the broker is an offshore one and it was opened in It is located in St. Vincent and the Grenadines. After all, we did mention this is an unregulated broker. Is Kot4X Safe Or A Scam?
Still, not being regulated can put users at risk, as an unregulated broker is not able to offer protection the same way a legit one can. As a result, most people are skeptical when it comes to registering on Kot4x, and rightfully so. You can only take their word for it. As for where the website is available, there are some countries restricted from trading with Kot4x. Products and features are not available to clients from countries with legal restrictions in place.
In fact, three of the four types come with fees. As for the VAR account, it comes with no commission fee. Other than that, there are other broker fees we came across. For instance, on the Terms and Conditions page, we read that Kot4x has every right to charge commissions for telephone trades. However, they do not offer more details on the amount they might charge, so this is a little confusing.
Using a live account, we go through the whole registration process up to the point of placing the first trade. After that, you only need to verify your email address, after which you can start submitting certain documents that will help verify you.
Once the team is done checking all your documentation, you can fund your account and start trading. As mentioned, you can choose from four different types of accounts. These include standard, pro, VAR, and mini. This amount is pretty low compared to the industry requirement, which makes it quite sketchy.
We were disappointed to see this during the registration process. We noticed that we had the option to open a demo account as well. Demo accounts allow clients to try out trading strategies with virtual funds and thus test out the service before committing to a full account. When you open a demo account, you can do so with an unlimited amount of funds, after which you can choose to leverage up to Therefore, we tested the system to see how everything works.
For both deposits and withdrawals, Kot4x accepts bitcoin only. You can simply start depositing your amount without worrying that a bank will delay the transfer.
Kot4x offers a guide where you can read plenty of information about buying bitcoin through Coinbase in case you have no idea how it works. On top of that, when a broker makes a deposit or a withdrawal, no fees apply. The potential client base is greatly restricted by the limited funding options, and while it may be a great thing for traders who know enough about cryptocurrency, it affects brokers.
It would have been nicer to see some other funding options. For instance, the site should have considered adding things like debit or credit cards, wire transfers, or e-wallets like PayPal. It usually takes hours. You are required to have confirmations for your deposit, in order to be processed.
It would usually take hours, depending on the Blockchain traffic however this can also take up to 24 hours, depending on the processing speeds of the provide. To withdraw bitcoin, you have to go to the withdraw many and make sure you have the BTC wallet ID for your external BTC wallet copied. Once you do that, all you have to do is paste the wallet id into the BTC address field, and enter the amount you wish to withdraw, from your available balance.
Kot4X aims to process withdrawal requests within 24 hours. Once processed it can take hours or as soon as confirmations on the Blockchain before the funds will be available in your BTC wallet. Multiple built-in trading tools are available to make sure that people find it easy to use and can trade properly. Kot4x users can use different devices to start trading with MetaTrader 4. You simply access it from your browser, and you can start trading.
Other than that, you have the desktop app — you can download it and start trading without having to keep an extra tab open in your browser.
Furthermore, there is a mobile app that you can download and use on both Android and iOS systems. It is a great option for people who are on the go but still want to keep trading.
In terms of look and feel, the trading platform is great. The design looks amazing, and the platform overall is user-friendly. All the features can be found with ease and it allows you to start trading as soon as possible. Kot4x allows you to enable two-factor authentication. You can enable the 2FA via an authenticator app, or SMS. So, you will have to go through the necessary process of activating one of them and keep your account safe.
Placing orders is also easy with MetaTrader 4, regardless of the device you use for trading. You can set alerts and notifications through various methods. They can be either via platform pop-ups, email, or SMS. This includes things such as Forex commodities, indices, currency pairs, energies, stocks, metals, and cryptocurrency. Aside from that, we also discovered that it is possible to use CFD trading. So, you can pretty much speculate on the fluctuating costs without having to be the owner of the underlying asset.
If you have enough knowledge of how CFDs work, as well as the risks that online trading comes with, you should not have any problem trading. There are 11 indices, stocks, 31 cryptocurrencies, 55 Forex currency pairs such as minor, major, and exotic FX crosses, as well as 9 commodities that include precious metals and energies.
However, MetaTrader 4 should already have the necessary tools that allow you to meet the needs of your average retail trader. At Kot4X they are constantly offering the members of their kingdom new opportunities to make money and reach their financial objectives. Use it to trade and maximize your diversification, and profit opportunities. More details here. However, in order to be connected with customer support, we had to first complete a form on the website by sending them an email. We found that email communication is your best option with Kot4x.
The feature is only able to answer a few general questions. Without a phone number, you have to wait until someone from customer support sees your message and can reply. As a result, delay times will apply. It would be great if they could change this in the future to provide materials that could educate clients and thus help them with their trading endeavors. Kot4x has some good features and some advantages, but it is not a regulated broker, and this makes it very unsafe to use.
You can only use bitcoin trading, and there is no phone support option for people who need help urgently. Kot4X are an offshore broker located in St. Vincent and the Grenadines, they are currently not regulated by any regulatory authority.
Most experts and professionals would not open an account with an unregulated broker as they cannot offer the same protection that a regulated broker can. Click Deposits, and then type the amount you wish to send. Once done, you then need to click Proceed to the Payments Page. After you have been redirected, go to your Bitcoin BTC wallet send the funds to the Bitcoin BTC wallet address we give you directly.
All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. We analyze more than data points across 8 key focus areas. Our reviews are a combination of data research and working alongside the brokers. For our Forex Broker Review, we assessed, rated, and ranked 45 international forex brokers over a three-month time period. Each broker was graded on different variables and, in total, over , words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time live in person or over the web for an annual update meeting. All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 0.
Learn more about how we test. There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument.
KOT4X is an online Crypto and Forex Broker providing traders across the globe with cutting-edge technology to trade the world’s markets. Our Shield will protect your trades and our sword 08/03/ · KOT4X Broker Reviews The customer also hereby confirms that these funds are free of any liens or debts, are clean and non-criminal in origin and do not originate from In this KOT4X Review, we are going to take a look at the offer that this broker prepared for its traders. KOT4X operates on the financial market since When it comes to trading 10/04/ · Open trading accounts with at least two brokers. KOT4X is an offshore Forex brokerage registered in St. Vincent and the Grenadines. It provides the MetaTrader 4 What we noticed when it comes to Kot4x is that there are multiple types of accounts and that they all come with their own fees. In fact, three of the four types come with fees. The 15/08/ · 1 star review by Mike, USA I traded with Kot4x for over a year and had tons of issues with them! The slippage on us 30 is crazy one time I was up with a stop loss at ... read more
In the MT4 platform you will find a great range of technical indicators and drawing objects for conducting detailed market analysis across various chart types and timeframes. All data submitted by brokers is hand-checked for accuracy. Menu Best Brokers Trading Apps Reviews Crypto Scams Complaints. After that, you only need to verify your email address, after which you can start submitting certain documents that will help verify you. MT4 Mobile Trading App. Kot4x users can use different devices to start trading with MetaTrader 4.We aim to help you find the best broker according to your own needs. In fact, three of the four types come with fees. More details here. What Is Kot4x review Necessary Necessary.