KOT4X Review – Should You Use This Broker?

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By Theo Madsen

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KOT4X Review

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KOT4X Review

  • Trading Platform
  • Pricing
  • Financial Instruments
  • Tools and Features
2.9

Summary

KOT4X, also known as The Kings of Transparency, is an offshore forex, crypto, and CFD broker. This broker offers an ECN trading environment and provides tools for a variety of trading strategies such as news trading, scalping, hedging, and more. KOT4X features access to MetaTrader 4 and also includes built-in technical indicators, interactive charts, expert advisors, and a mobile app. Learn more about this broker by reading our complete KOT4X review.

Pros

  • Competitive cost structure
  • Access to MetaTrader platform
  • Live account with up to 1:500 leverage allowed
  • Multiple retail investor accounts available
  • ECN trading and STP execution
  • Low minimum deposit for a standard account
  • Demo accounts with virtual funds
  • Deposit money and withdraw money for no additional cost

Cons

  • No opportunities to generate passive income
  • Unregulated broker
  • No education or market research
  • Only cryptocurrency deposits and withdrawals, but credit or debit cards transactions are supported

Online trading can be a profitable venture, but choosing the right broker and trading platform is crucial to ensure your trading journey is as smooth and safe as possible. Trading platforms, account types, features, and pricing are only a few of the aspects discussed in the KOT4X review below. Check out the following sections to find out if this is the forex broker you’ve been looking for.

About KOT4X

KOT4X (the Kings of Transparency) is an offshore broker located in St. Vincent and the Grenadines. It offers cryptocurrency, CFD, and forex trading opportunities for traders residing in multiple countries. As you can only trade crypto, forex, and CFDs, you need to keep in mind that these instruments may lead to losing money rapidly (as these are some of the riskiest investments).

KOT4X offers an ECN trading environment for quick and low-cost transactions. It also accommodates all trading strategies, including news trading, scalping, hedging, and a variety of financial markets.

The broker has several benefits and advantages for traders, but also shortcomings, as outlined in our KOT4X review below.

KOT4X Feature Image

KOT4X Features

KOT4X is primarily a forex broker, but it also allows trading CFDs (contracts based on an underlying asset) and cryptocurrency at low spreads. The asset classes supported are major currency pairs, minors, exotics, indices, stocks, and cryptocurrencies, but their availability depends on the type of account you choose. Below, we’ll review KOT4X’s main features and its advantages and disadvantages.  

Trading Platforms

KOT4X comes with access to one of the most popular forex trading platforms around – the MetaTrader 4, both downloadable and web platform versions, WebTrader, which is available via most modern web browsers.

KOT4X MT4

Some of the main features of the trading platform include:

  • Many built-in technical indicators
  • Customizable, interactive charts
  • Expert advisors (for automated trading)
  • Supports multiple order types and time frames
  • MT4 mobile phone app
KOT4X MT4 Mobile Phone App

KOT4X does not provide a proprietary trading platform, so users must only choose either the downloadable MetaTrader platform or its web-based version, WebTrader. However, if you want to use expert advisors in your trading strategy, these can only be used via the downloadable version of MT4, not the web terminal.

KOT4X Trading Account Types

KOT4X has four trading account types ideal for many trading strategies, all of them boasting market execution and ECN/STP trading. There are also similar trading conditions, such as the maximum leverage allowed is 1:500, with a minimum trade size of 0.01 lots and up to 1,000 lots.

Apart from the cost discussed in the pricing section below, one of the main differences between the retail investor accounts is the type of financial instruments:

  • Standard accounts: up to 57 pairs, 13 indices, 8 commodities, 38 stocks, and 23 cryptocurrencies
  • PRO accounts: 28 pairs and 1 commodity
  • VAR Pairs: 28 pairs
  • MINI account: 29 pairs and 13 indices

ECN Trading & STP Execution

ECN trading and STP execution are perhaps the top features of KOT4X, which make it possible to have such competitive costs. Essentially, this broker doesn’t use a dealing desk, which means that traders’ orders are routed directly to liquidity providers available on the world’s markets.

This cutting-edge technology empowers traders to directly access the markets, which means that their trades are executed quicker and cheaper than through other forex brokers, such as CMC Markets or IG.

KOT4X Educational and Trading Tools

Unlike TD Ameritrade or E*Trade, which provide stellar education, KOT4X doesn’t have a section dedicated to trading knowledge, daily market analysis, or other useful insights. The broker does have a FAQ page where most beginners can find answers to basic questions. If you would like more opportunities to learn or research the markets, many forex brokers provide better opportunities, such as TIOmarkets.  

Kot4x Knowledge Base

KOT4X Pricing

The trading account types available vary in terms of costs:

  • Standard Pairs account has a $7 commission per lot, with the typical spread starting from 0.8 pips
  • PRO Pairs account has a lower spread of 0.4 pips and the same commission per lot
  • VAR account has spread starting from 1.2 pips, but there is no commission
  • MINI pairs account has a $1 commission and spreads starting from 1 pip.

If you want to deposit money, you need to consider that KOT4X only supports cryptocurrency deposits and withdrawals for all of its trading accounts. You also need to have a cryptocurrency storage medium like a bitcoin wallet to use this broker.

Kot4x Withdraw Funds

Cryptocurrency transactions incur variable network fees, but the broker does not charge you an additional fee to make deposits or withdrawals. If you don’t own any cryptocurrency, you can use your credit or debit card to buy Bitcoin via third parties and deposit it in your trading account.

Just like with any other forex broker, you will have to cover the swap fee (rollover fee) when trading forex pairs. The swap fee depends on several factors, including what pairs you trade, how long your positions are open, and the market interest rates for each currency pair. As this is the interest rate charged, KOT4X doesn’t support Islamic accounts. However, there are many other forex brokers that allow you to convert your account into an Islamic one, including FP Markets.

Finally, KOT4X’s minimum deposit ranges from $25 to $500. The MINI pairs accounts’ minimum deposit is only $25 to get started, the standard account must have a minimum deposit of $50, while the VAR account and Pro account are most suitable for professional traders, with minimum deposits of $250 and $500.

Customer Service

KOT4X customer service team can be contacted via an online chat function once you open an account, or by email or contact form on the website. There is no phone support, which may be a problem if you have an urgent matter regarding online trading. However, this is quite common for many offshore unregulated brokers.

How Does KOT4X Compare?

As a forex and CFD broker, KOT4X could improve its offering significantly. Its features are basic, so traders do not have access to any extra benefits that may include market research, education, or extra tools.

For instance, IC Markets boasts lightning-fast execution speeds, but the trading instruments offered are more expansive (i.e., up to 61 currency pairs). Others, like FP Markets, provide access to a forex trading calculator and even a forex virtual private server where you can automate your MT4 strategy.

If you are looking for a slightly more complex offering, CMC Markets comes with excellent platform technology, while Interactive Brokers is a well-rounded broker for traders of all skills and with any type of strategy. Also, Pepperstone Markets is superior thanks to its secure ECN trading environment; this licensed broker is also targeted toward more experienced traders, just like KOT4X.

Finally, since KOT4X is not a regulated broker, it comes with significant risks, especially for beginners. This could be a deal-breaker if you want to enjoy peace of mind while trading. If you want a regulated broker, there’s a wide variety of options on the market, ranging from copy-trading platforms like eToro to Bux Zero mobile phone app for trading stocks, ETFs, and cryptocurrency, and Admiral Markets for forex.

Who Is KOT4X Best For?

KOT4X is an offshore broker registered in St. Vincent and the Grenadines, ideal for trading CFDs, forex, and crypto. It is compatible with the MT4 platform, but the range of tools, education, and support is extremely limited. If you are an intermediate or advanced trader seeking access to MetaTrader4 at a competitive cost, KOT4X may be suitable for your needs.

Unlike a licensed broker like TIOmarkets or Plus500, KOT4X doesn’t provide the same level of capital protection. It’s important to practice good risk management and, if you are a beginner, you may want to start with a safer option, such as AvaTrade or IG.

FAQ: KOT4X Review

Does KOT4X support MT5?

As of this writing, KOT4X does not support MetaTrader 5. The only trading platform available is MetaTrader 4, along with its web-based version, WebTrader, and the corresponding mobile phone app.

Does KOT4X have a demo account?

Yes, KOT4X has a demo account in which you can try all of its features before signing up for a live account.

Kot4x Demo Account

Which countries are accepted by KOT4X?

Traders residing in most countries can sign up with KOT4X, but some or all of its features may be restricted in others. In general, U.S, U.K., and European users are accepted. It’s best to make sure that local laws and regulations allow you to trade CFDs and use leveraged trading before signing up.

Is KOT4X a good broker?

Whether KOT4X is a suitable broker or not depends on your strategy and risk appetite. It supports various asset classes, such as precious metals, cryptocurrency trading, alternative currency, and bitcoin transactions, and may accept clients from different countries. However, it is not licensed by a financial regulator, so the trading conditions may not be as safe as other forex brokers or a regulated broker, putting you at high risk.

Final Verdict: KOT4X

In our KOT4X review, we have looked at some of this broker’s features, pricing, and how it compares with other popular online brokers. Overall, KOT4X still has room to improve, especially in terms of trading instruments offered, education and research, and support to new traders. As an unregulated broker, it’s important to keep in mind that you won’t enjoy many of the protections provided by other brokers that hold licenses, such as segregated client funds, negative balance protection, or transparent trading operations.

But, if you are looking for a no-nonsense, quick way of trading the markets, KOT4X comes with access to MetaTrader 4, one of the most popular trading platforms in the world. You may want to have a look at a few other broker reviews that excel where KOT4X falls short, such as Plus500, FP Markets, or Robinhood, depending on your strategy and experience.

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Theo Madsen

Theo has been actively trading the forex markets since 2013. Over the past five years, he has gained experience trading currencies, stocks, options, and futures. Theo's trading experience led him to test out over one hundred different trading services and he shares his insights in reviews to help other traders.

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