KOT4X Broker Review: Scam or Reliable?

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If you want to trade on Kot4x, find out if it is reliable and learn more about Kot4x brokers, I guarantee you will have an idea after reading my Kot4x evaluation.

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

What is Kot4x?

Kot4x brokers are offshore foreign exchange brokers. Kot4x was established in 2018. Kot4x is located in St. Vincent. The Grenadines is a well-known offshore foreign exchange broker who describes themselves as the king of transparency. On the website, they summarized the broker as a platform that provides a secure ECN trading environment, allowing traders to conduct exclusive online transactions.

kotfx

Is Kot4x regulated?

According to my analysis of their website, Kot4x Broker or in other words Kotfx is not regulated. However, Kot4x stated that they are in the process of applying for a license, which may take some time. Frankly, if you want to know that Kot4x is the answer to a regulated broker, then my answer to this question is no, Kot4x is not regulated.

The company is located in Saint Vincent and is a good place for shady brokers. San Vincent has loose registration rules, making it easy to establish a company. There are many reliable and regulated foreign exchange brokers. You should trade with them. There are also well-known regulatory agencies, such as the Financial Conduct Authority (FCA) in the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC).

These regulatory agencies provide traders with good security options. For example, FCA-regulated foreign exchange brokers provide compensation plans of up to £85.000. You can see all FCA regulated brokers in my related article.

What are the broker’s account types and spreads?

It provides customers with the opportunity to use the MT4 platform in 4 types of accounts: standard, professional, VAR and MINI, and its trading model is ECN STP.

When I checked the maximum leverage, I saw that it was 1:500 and it was the same for all types of accounts. A leverage of 1:500 means that for every 1 USD in a client’s account, the Kot4x broker can trade up to USD 500. This is high, and you should use high leverage with caution. This ratio can bring huge gains and also means huge losses. My advice is, especially for beginners, don’t start with such great values.

You can find information about Kotfx’s spreads and commissions on the image.

kot4x-broker

In terms of commissions, STANDARD and PRO type accounts have $7 commission per lot, MINI type accounts have $1 commission per lot, and VAR type accounts have no commission.

However, after reviewing user reviews, I found that Kot4x brokers reserve the right to commission and did not specify the amount of commission, which many customers have experienced.

The available tools for STANDARD, PRO and VAR accounts are foreign exchange, indices, commodities, metals, stocks, and cryptocurrencies, but the available tools for MINI accounts are only foreign exchange. Various accounts use the MT4 platform for trading.

Payment methods are very limited in Kotfx. You can deposit and withdraw money via e-commerce payment via Bitcoin, debit/credit card and credit/debit card.

bitcoin

The broker does not have a demo account. In addition, the terms and conditions are unclear. No conditions were found when opening a trading account.