KOT4X

Kot4x forex broker review. You can find all information about Kot4x broker and required minimum deposit. Is the Kotfx broker regulated?
1.6/10 (Expert Score)
Product is rated as #64 in category Forex Brokers

If you want to trade on Kot4x, know if it is reliable and learn more about the Kot4x broker, I guarantee you will have an idea after reading my Kot4x review.

The company behind the broker is Kot4x Ltd. The questions that I will give the answers: Is Kot4x scam or reliable? What are the Kotfx trading conditions? What is the account types of Kot4x forex? Is Kot4x regulated? What are the spreads and maximum leverage? Is Kotfx a good broker? What is Kot4x minimum deposit? You can find all answers to these questions in my Kot4x broker review.

1.6Expert Score
Poor

I reviewed KOT4X based on the following criteria.

TRUST
0
COMMISSIONS AND FEES
1
CUSTOMER SERVICE
2
PLATFORM & TOOLS
3
PRODUCT PORTFOLIO
2
PROS
  • MT4 support
CONS
  • Unregulated
  • Limited payment options
  • Bad trading conditions

About Company

What is Kot4x?

Kot4x broker is an offshore forex broker. Kot4x was founded in 2018 and Kot4x was located St. Vincent and the Grenadines is an established offshore Forex broker and they describe themself as Kings of Transparency. In the website they summarize the broker as a platform provides a secure ECN trading environment which permits traders to trade exclusively online.

kot4x

Regulator

Is Kot4x regulated?

As far as I analyze their website, Kot4x or in other words Kotfx is not regulated. However, Kot4x state that they are in the process of applying for a license to be issued and that this may take some time. Frankly, if you want to know answer about is Kot4x a regulated broker, my answer for this question is no, Kot4x is unregulated.

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

What is the account types and spreads of the broker?

It offers its customers the opportunity to use the MT4 platform in 4 types of accounts: Standard, Pro, VAR and MINI and their trading model is ECN STP. 

When I checked the maximum leverage I saw it was 1:500 and it was same for all kind of accounts. 1:500 leverage means that for every $ 1 in a client’s account, the Kot4x broker can trade up to $ 500.  It is high and you should be careful by using high leverage. This ratio can result in big gains and also means big losses.  My advice is that especially beginners should not start with such great values.     

You can find information about the spread and commissions of Kotfx on the image. 

kot4x review

In terms of commission the STANDARD and the PRO types of accounts have $7 commission per lot, the MINI type of account has $1 commission per lot while the VAR type of account have no commission.   

However, after reviewing the user comments, I saw that the Kot4x broker reserves the right to commission and the amount of this is not specified and many customers have experienced this.

The available instruments of  STANDARD, PRO, and VAR accounts are FX, indices, commodities, metals, stocks, cryptos but for available instruments of MINI accounts is only FX. All kind of accounts use MT4 platform to trade. 

Payment options are very limited in Kotfx. You can deposit and withdrawal via Bitcoin, debit/credit card and credit/debit card via e-commerce pay.

kot4x broker

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.

Minimum Deposit

What is Kot4x minimum deposit?

Recommended Kot4x minimum deposit by the broker is $50 for Standard account, $500 for Pro accounts, $250 for VAR accounts, $25 for MINI accounts. The Mini type accounts can be ideal for beginners with a deposit of $ 25.

Kot4x minimum deposit is not so good and I know brokers you can start to Forex trade even with $ 1. If you wan to know which brokers you can start to Forex trade even with $1 check this article I reviewed before.

Trading Platforms

Which platforms can I use in Kot4x?

MT4 trade supplied you by Kot4x broker and it’s available to download for Windows, Mac, Android and IOS. You can find the downloading link on Kotfx website and login to the Metatrader account. Finally, to start trading you need to transfer funds from your wallet to your Metatrader account. 

Education Material

Does Kot4x supply any education material?

Kotfx does not supply any education material. It would be better if the broker provide something like blog posts or educational videos about how traders can trade in platform. 

Demo Account

Does Kot4x offer demo account?

You can create a demo account at the broker and try out your strategies. You can try yourself in a demo account with unlimited funds and leverage of 1: 500. 

When registering for the Demo Account, you just need to select the account type demo from the my accounts section.

kotfx

then select Leverage and Balance and click the Create account button. You will then receive an email with your login details. You can find detailed pictures of Demo account opening in Kotfx website under the part of FAQ .

kot4x broker

Customer Services

Does Kotfx has customer services?

If you need help on the way, the broker offers you to contact with their 24/7 assistance to their customers via Live chat on their website but as we looked at their customers’ experiences they were talking about not replying by them. 

Kot4x also publish their e-mail address on their website. If you want to contact with them just send an e-mail to this address. The broker have also an instagram account .

And you can also contact with on their contact us page and write them a message.

Communication

How can I report a problem with a trade in Kot4x broker?

In the platform they say in case of any problem about trading you should open a ticket and report your trading problem and they want you to add Metatrader account number and the trade ID of the problem trade.

kot4x reviews

As we analyzed from the user experiences the broker does not have stable communication with their customers cause people are complaining about communication issues and late replies a lot.

Conclusion

Conclusion about Kot4x

Kot4x is not regulated offshore forex broker located in St. Vincent and the Grenadines. It is risky to trade with this kind of unregulated companies. Scam is widespread in the forex trading world. If you are scammed, you can contact your bank and file a chargeback. If you have given your credit card information to the broker, I recommend that you cancel your credit card immediately. Stay away from people who present themselves as rescue organizations. To help you, they will ask you to pay first and then they will not help.     

That’s why it is so important to work with the best and reliable brokers. 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 in this link. If you have any doubts or question about my Kotfx broker review feel free to contact me about Kot4x review.

Valentin Cote

Valentin Cote

I am Valentin Cote, the author and owner of this personal blog. I compare and review forex brokers in my website. I am in the trading industry since 2009 and still learning. I also write useful articles for newbies about forex and investment. I love playing online games and Forex :)

We will be happy to hear your thoughts

Leave a reply

Your total score

Who Am I?

Hello to everyone. Forexbrokerslab is my personal blog where I compare reliable forex brokers. I’ve been in forex trading since 2009 and I’m still learning. I have traded with the most popular forex brokers, including the most unknown ones in any regulation and many different account types. So I think I have enough knowledge to compare brokers. You can learn about forex brokers by reviewing my blog.

Categories

Forex Brokers

Forex Brokers

Forex Brokers

Forex Brokers Lab
Logo
Enable registration in settings - general