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KOT4X Broker Review 2024

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KOT4X Broker Review 2024
Micro Account Commission-free Trading Affiliate
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Your Capital is at risk.

Your Capital is at risk.

Investing and trading in financial markets such as the stock exchange, forex, digital currencies in the form of spot or with leverage face a high inherent risk. According to the statistics of all exchanges and brokers, more than 75% of people lose!

Overview
Company:KOT4X
Founded:2024
Min Deposit:$10
Max Leverage:500
Headquarter:Jamaica
US Accepted:
About
KOT4X is a Jamaican-based brokerage company offering access to 250+ instruments with leverage up to 1:500 and a minimum order size of 0.01 lots. It offers micro and commission-free accounts. The company is not regulated by any financial authority and has a low trust score of 1.7 on TrustPilot.
Contact
10, Holborn, Rd Unit 7, Kingston, 10 Kingston, Jamaica
Rank and Score
Pros and Cons
Account Types
Platforms
Pros
Swap-free Islamic accounts
No deposit fees for Bitcoin
Low minimum deposit ($10)
Wide range of markets
Cons
Unregulated broker
No educational resources
No dedicated Copy Trading feature
Lack of transparency about the founders

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?

Weā€™ll 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 review
A broker with the STP (Straight Through Processing) execution model

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 Pros & Cons

KOT4X Upsides and Downsides
The broker allows the use of Expert Advisors (EAs) and various strategies like Hedging, Scalping, and news trading

Various accounts, competitive spreads, and a user-friendly trading platform are some of the benefits of trading with KOT4X. However, to have a balanced look, we have to weigh the advantages and disadvantages simultaneously.

Pros

Cons

Low minimum deposit ($10)

No dedicated Copy Trading feature

No deposit fees for Bitcoin

Unregulated broker

Swap-free Islamic accounts

Lack of transparency about the founders

Wide range of markets

No educational resources

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.

  1. Visit the brokerā€™s official website and click the "Sign Up" button;
  2. Fill out the ā€œBasic Infoā€ form;
  3. Verify your email;
  4. Fill in the ā€œPersonal Detailsā€ form with phone number, birth date, and address;
  5. Provide proof of identity (passport or driverā€™s 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 brokerā€™s 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 doesnā€™t charge any fees for withdrawals and BTC deposits.

KOT4X Payment Methods

KOT4X Payment Methods
Crypto transactions take around 1-3 hours, depending on network traffic

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 Markets and Instruments

The broker offers a diverse range of trading instruments (250+) across 6 different asset classes and markets, including:

  • Forex: 55 major, minor, and exotic currency pairs with leverage up to 1:500;
  • Stocks: 104 CFDs on global stocks with leverage up to 1:20;
  • Indices: 9 major global indices like SPX500, US30, DAX, UK100, and ESP35 with leverage up to 1:200;
  • Energies: Oil and natural gas CFDs with leverage up to 1:200;
  • Metals: Gold, silver, Copper, and other precious metals with leverage up to 1:200;
  • Cryptocurrencies: 25 crypto CFDs like BTC/USD, BIT/USD, DASH/USD, ETH/USD, and DOGE/USD with leverage up to 1:100.

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 doesnā€™t seem to take it to heart since it doesnā€™t offer phone support or live chat.

Email

support@kot4x.com

Chat Bot

Accessible on the website

Ticket

24/7 Through the ā€œContactā€ page

KOT4X Red Flag Countries

KOT4X Broker Geo-Restrictions
List of the countries that are prohibited from trading on KOT4X

While KOT4X accepts clients globally, certain countries are restricted due to local regulations or the broker's policies.

  • Afghanistan;
  • Botswana;
  • Burma (Myanmar);
  • Democratic Republic of Congo (DPRK);
  • Crimea;
  • Cuba;
  • Ethiopia;
  • Iran;
  • Iraq;
  • Japan;
  • Libya;
  • North Korea;
  • Pakistan;
  • Republic of the Congo;
  • Russian Federation;
  • Somalia;
  • Spain;
  • Sudan;
  • Syria;
  • Trinidad and Tobago;
  • Tunisia;
  • Yemen;
  • Zimbabwe;
  • United States.

KOT4X Broker User Satisfaction

We must explore the brokerā€™s trust scores in this KOT4X review. The company doesnā€™t have a good standing in the market or even among its clients.

TrustPilot

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.

KOT4X Broker TrustPilot
80% of TrustPilot users have rated KOT4X as a 1-star broker, and the company hasnā€™t replied to any of them

Does KOT4X Provide Educational Materials?

A consistent learning process is one of the key factors to success in financial markets. However, KOT4X doesnā€™t pay any attention to this fact since it doesnā€™t offer any educational materials.

KOT4X may not be the best choice for traders seeking in-depth educational resources. Consider supplementing with third-party educational materials if you choose to trade with this 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 doesnā€™t seem to be a reliable choice for CFD trading. Share your thoughts about the KOT4X review in the comments.

FAQs

Is KOT4X regulated?

The company is an unregulated offshore broker.

What's the minimum deposit?

You can start trading with a budget as low as $10.

Does KOT4X offer MetaTrader platforms?

No, the only available platform is TradeLocker.

What payment methods does KOT4X accept?

Cryptocurrencies are the main methods for deposits and withdrawals.

Is KOT4X suitable for beginners?

While the broker offers low minimum deposits, its lack of regulation and limited educational resources may not be ideal for beginners.

What is the maximum leverage option?

The company offers a maximum leverage of 1:500 across all account types.

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