KOT4X is a brokerage company that provides OTC margin-based contracts on Forex pairs, Indices, Stocks, and Cryptocurrencies with leverage options up to 1:500. What are the trading costs and platforms on KOT4X broker?
Weāll explore the account types, regulatory status, commissions, spreads, trading platforms, company information, investment options, support channels, and many more in this KOT4X review.
KOT4X; Company Information and Regulation
KOT4X is an offshore Forex and CFD broker registered in St Vincent and the Grenadines and operated by Kot Ltd, Company Number 25045 BC 2018. The company has no licenses from any financial authorities. Key features of KOT4X:
- Unregulated broker;
- Based in Jamaica;
- Leverage options up to 1:500;
- 250+ financial instruments.
The lack of regulation should be a red flag for potential clients, as it exposes them to higher risks.
KOT4X Broker Specific Details
KOT4X provides a range of trading options, such as 24/7 crypto trading and STP execution model, to cater to different trader profiles.
Broker | KOT4X |
Account Types | Standard, Pro, Var, Mini |
Regulating Authorities | Not Regulated |
Based Currencies | USD, EUR, GBP, CAD, AUD, BTC |
Minimum Deposit | $10 |
Deposit Methods | Credit/Debit Cards, Cryptocurrencies |
Withdrawal Methods | BTC, USDT |
Minimum Order | 0.01 lots |
Maximum Leverage | 1:500 |
Investment Options | Copy Trading, Investment accounts |
Trading Platforms & Apps | TradeLocker |
Markets | Forex, Indices, Stocks, Metals, Energies, Cryptocurrencies |
Spread | Variable based on the account type |
Commission | Variable based on the account type |
Orders Execution | Market |
Margin Call / Stop Out | 100% / 144% |
Trading Features | Mobile Trading |
Affiliate Program | Yes |
Bonus & Promotions | Withdrawal Bonus |
Islamic Account | Yes |
PAMM Account | No |
Customer Support Ways | Email, Chat Bot, Ticket |
Customer Support Hours | 24/7 |
KOT4X Account Offerings
KOT4X broker offers four distinct account types, each catering to different trading styles and preferences.
Account Types | Spreads | Commission | Lot Size |
Standard | Medium | $7 per lot | 1 lot = 100,000 |
Pro | Low | $7 per lot | 1 lot = 100,000 |
Var | Higher | No commission | 1 lot = 100,000 |
Mini | Highest | $1 per lot ($7 for Indexes) | 1 lot = 1,000 |
KOT4X Account Opening and KYC Verification
Opening an account with KOT4X is a straightforward process, but it's important to note that their Know Your Customer (KYC) procedures may be less stringent than those of regulated brokers. However, KYC is mandatory in KOT4X.
- Visit the brokerās official website and click the "Sign Up" button;
- Fill out the āBasic Infoā form;
- Verify your email;
- Fill in the āPersonal Detailsā form with phone number, birth date, and address;
- Provide proof of identity (passport or driverās license) and proof of address (utility bill or bank statement).
KOT4X Trading Platforms
We must mention the trading solution in this KOT4X review. the broker offers the feature-rich TradeLocker, which integrates with TradingView for advanced charting capabilities. The platform is accessible across various devices and operating systems, including:
KOT4X Broker Fee Structure
to maximize your potential profit earnings, you have to familiarize yourself with the brokerās commissions, spreads, and other non-trading costs.
Account Types | Commission |
Standard | $7 per lot |
Pro | $7 per lot |
Var | No commission |
Mini | $1 per lot ($7 for Indexes) |
Other than the commission, trading on the platform comes with spreads. In the table below, we offer the average spreads for major FX pairs.
Currency Pairs | Avg. Spread (Pips) |
AUD/CAD | 9 |
CAD/SGD | 2.9 |
EUR/TRY | 7700 |
EUR/USD | 1 |
GBP/USD | 5 |
USD/JPY | 1 |
The broker also charges swaps on positions held overnight. Rates vary by instrument. However, it doesnāt charge any fees for withdrawals and BTC deposits.
KOT4X Payment Methods
KOT4X emphasizes cryptocurrency transactions for deposits and withdrawals while offering Credit/Debit Card transactions for account funding, too.
Deposit | Credit/Debit Cards |
Bitcoin (BTC) Ethereum (ETH) Ripple (XRP) Litecoin (LTC) Dogecoin (DOGE) Tether (USDT) (TRC20/ERC20) | |
Withdrawal | Bitcoin (BTC) Tether (USDT) (TRC20/ERC20) |
There are no deposit fees for using Bitcoin, but a 2.5% fee applies to all other cryptocurrencies. The broker does not charge any withdrawal fees, but processing networks may apply their own fees.
Copy Trading and Growth Plans on KOT4X Broker
Passive income is one of the most attractive topics in the KOT4X review, especially for beginner traders. the broker does not currently offer copy trading or specific investment plans.
This absence of social trading features might disappoint traders who seek to earn passive income on their money. However, using TradeLocker advanced features and leverage options, you can increase the potential for earning larger profits.
KOT4X Bonus and Promotional Plans
The broker offers a withdrawal bonus, which enables you to get 50% extra funds if you keep your withdrawal amount in the account. KOT4X also offers a comprehensive Affiliate program with the following features:
- Competitive Commissions: Earn a $2.00 commission for every lot traded by your referred clients;
- Flexible Payouts: Commissions can be withdrawn or used for trading;
- Marketing Support: Access to promotional materials to help you succeed.
How to Reach KOT4X Broker Customer Support
Customer support is one of the most important aspects of any business and one of the most important topics of the KOT4X review. the broker doesnāt seem to take it to heart since it doesnāt offer phone support or live chat.
support@kot4x.com | |
Chat Bot | Accessible on the website |
Ticket | 24/7 Through the āContactā page |
KOT4X Broker User Satisfaction
We must explore the brokerās trust scores in this KOT4X review. The company doesnāt have a good standing in the market or even among its clients.
1.7 out of 5.0 based on 87 reviews | |
Forex Peace Army | 1.3 out of 5.0 based on 19 ratings |
The low trust scores and numerous negative reviews suggest caution is necessary when considering KOT4X as a broker.
Conclusion and Final Words
KOT4X offers four ECN account types that enable you to access 250+ instruments and six different asset classes, from Forex to Crypto.
However, the KOT4X broker is not regulated, and considering its low ratings among traders, it doesnāt seem to be a reliable choice for CFD trading. Share your thoughts about the KOT4X review in the comments.
