Minimum Deposit: $50
Maximum Leverage: 1:500
Kot4x is a forex broker who is based in St. Vincent and the Grenadines. The company behind the broker is Kot4x Ltd. Kot4x is an offshore forex broker and I will try to give you all information about it in this review.
The questions that I will give the answers: Is Kot4x scam or reliable? What are the trading conditions and account types of Kot4x forex? Is Kotfx regulated? What are the spreads and maximum leverage? You can find all answers to these questions in my Kot4x review.
Regulation and Investor Protection
Kot4x broker is an offshore forex broker. It means the broker is not regulated. Trading with unregulated brokers is really risky. You should be aware of that.
The company is in Saint Vincent and the place is a good location for shady brokers. Saint Vincent has loose registration rules and it is easy to establish a company.
There are many reliable and regulated forex brokers. You should trade with them. There are also reputable regulator entities such as Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) and Australian Securities and Investments Commission (ASIC).
These regulators offer good security options for traders. For example, FCA regulated forex brokers offer a compensation scheme up to 85 000 GBP. You can see all FCA regulated brokers in my related article.
Account Types and Spreads
There are three account types offered by Kot4x. These are Standard ECN account, Pro account and Gold account. Minimum deposit for the broker is $50.
The maximum leverage offered by Kot4fx is 1:500. It is high and you should be careful by using high leverage. You can find information about the spread and commissions on the image.
The instruments you can trade with are currency pairs, CFDs, cryptocurrencies and precious metals. There are many cryptos such as Bitcoin, IOTA, Ethereum, Dash, Litecoin and more.
Trading platform offered by Ko4x is MetaTrader 4. The MT4 is the most popular trading platform among traders. It has wonderful features. It has user-friendly interface, advanced chart tools, indicators and EAs. It is good to provide MetaTrader for Kot4x forex broker.
Payment options are very limited. You can only deposit and withdrawal via Bitcoin. This really bad for the broker. There should be more methods such as credit card, bank wire transfer and e-wallet systems.
There is no demo account for the broker. In addition, term and conditions are not clear. You cannot find conditions when you open a trading account.
Kot4x is an unregulated offshore forex broker. It is risky to trade with this kind of companies. You should find a better broker. In addition, the trading conditions are bad. You can find a better broker in my top forex broker list.