KOT4X Review
KOT4X offer trading and investing in Forex, Stocks, Indices, Commodities and Crypto CFDs with tight spreads and low commissions, both of which can help to save on costs in the long run.
KOT4X is an online CFD broker that caters to investors and traders all over the globe. Aptly named the Kings of Transparency (KOT4X), they provide CFD instruments including forex, stocks and cryptos, to traders with cutting-edge technology for trading the world’s markets. The broker has excellent trading conditions including tight spreads, quick trade execution speeds, around the clock support and a minimum deposit requirement of just $10.
KOT4X have partnered with some of the top tier exchanges to be able to offer optimal trade conditions to their clients on a 24/7 basis. The innovative technology that the broker implements has made it possible for individuals to purchase, trade, and invest, without the involvement of banks or other financial institutions.
KOT4X client can trade hundreds of instruments on versatile and easy to use platforms. You get very competitive trading conditions without any restrictions on your trading strategies. Crypto lovers will be impressed with the range of crypto CFDs that can be traded 24/7 whilst the broker also supports bitcoin deposits and withdrawals. Beginners may want to open a demo account to familiarise themselves with trading online as the broker doesn’t currently have any educational materials. If you are ready to open a live account, the process is quick and easy whilst a very helpful support team is on hand to assist as and when needed. You can be ready to trade with a minimum $10 deposit in just minutes. On the downside, the broker is not currently regulated, do not provide swap-free accounts and apply inactivity fees.
You can join thousands of people who choose to trade with KOT4X on over 250 financial instruments including 24/7 trading of cryptocurrencies. They have a generous range of currency pairs, stocks, indices, cryptos and commodities. Whatever your interests, there is something for everyone to trade.
When trading CFDs online with KOT4X, you are actually trading on the price changes of the selected financial instruments, and not physically making a purchase of the asset itself. The trader and the broker agree between themselves to replicate market conditions and settle the difference amongst themselves when the position closes. This is known as CFD trading. You can go long or short when trading CFDs with KOT4X.
KOT4X Instruments Summary
| Instruments | KOT4X |
|---|---|
| Forex | ✓ |
| Stocks | ✓ |
| Indices | ✓ |
| Commodities | ✓ |
| Cryptos | ✓ |
| Options | x |
| Bonds | x |
| ETFs | x |
| CFDs | ✓ |
Commission and Spread Fees
KOT4X keep things very simple for clients. The broker has a choice of trading accounts all available through the same user-friendly platform. You simply load the extension of the instrument that you wish to trade. The main difference between each of the extension types are the spreads (starting from 0.4 pips) and commission fee (starting from $0). They do not provide spreads from zero pips but competitors such as Hugo’s Way do if that is something your trading strategy requires.
You can choose to trade with tighter spreads and pay a small commission fee. This may be useful for those who are day trading and need lower spreads for their trading strategies. On the other hand, you can choose to trade with slightly higher spreads but pay no commission fee. This may be the preferred option for investors who are not too concerned about the spread as they plan on holding positions for the long term. Either way, all of the accounts have very competitive trading fees.
| Standard Pairs | PRO Pairs | VAR Pairs | MINI Pairs | |
| Execution Type | Market Execution | Market Execution | Market Execution | Market Execution |
| Trading Model | ECN STP | ECN STP | ECN STP | ECN STP |
| Min. Trade Size | 0.01 | 0.01 | 0.01 | 0.01 |
| Max. Trade Size | 1000 lots | 1000 lots | 1000 lots | 1000 Lots |
| Typical Spread | From 0.8 | From .4 | From 1.2 | From 1.0 |
| Swaps | Yes | Yes | Yes | Yes |
| Available Instruments | FX, Indices, Commodities, Metals, Stocks, Cryptos | FX, Indices, Commodities, Metals, Stocks, Cryptos | FX, Indices, Commodities, Metals, Stocks, Cryptos | FX |
| Commission | $7.00 Per Lot | $7.00 Per Lot | $0.00 Per Lot | $1.00 Per Lot |
| Forex | 55 pairs | 55 pairs | 55 pairs | 29 Pairs |
| Indices | 11 | 11 | 11 | 0 |
| Commodities | 9 | 9 | 9 | 0 |
| Stocks | 105 | 105 | 105 | 0 |
| Cryptos | 31 | 31 | 31 | 0 |
| Trading Platforms | MT4 | MT4 | MT4 | MT4 |
| Recommended Min. Deposit | $50 | $500 | $250 | $25 |
KOT4X participates in the STP (Straight Through Processing) execution model. This means that when a KOT4X client places a trade, there should be no manipulation from the dealing desk along with no re-quotes and no conflict of interest between the broker and clients.
Every trade is placed in the KOT4X aggregator which will give the best price possible for you as a trader and client of the broker. These trades are pulled from some of the top-tier liquidity providers in the financial industry. This means lower spreads and quicker trade execution speeds.
Deposit and Withdrawal Fees
KOT4X do not charge any fees for making deposit and withdrawals. However, keep in mind that there may be an applicable blockchain fee when sending and receiving bitcoin.
Inactivity Fees
KOT4X will charge you a $10 inactivity fee if you do not use your account for more than 6 months and there are funds remaining. You could simply withdraw your funds or start using your account again to avoid this small charge. To avoid inactivity fees you can use another broker such as Trader’s Way.
All of the KOT4X financial instruments are available on the MetaTrader 4 platform. You can open a live MT4 account where you can choose what type of instruments to trade (Standard, PRO, VAR, or MINI). As mentioned earlier, the difference between the instrument extensions are mainly the spreads and commissions, if applicable.
MetaTrader 4
MetaTrader 4 or MT4 for short, is by far the most widely used trading platform when it comes to forex and CFD trading online. It was developed by MetaQuotes Software and released in 2005. The MT4 platform is well known for being very user-friendly. It makes the process quick and easy when it comes to analysing charts, placing and managing orders.
You can load multiple charts and timeframes to keep track of your favourite financial instruments across web, desktop and mobile devices. There is an abundance of trading tools implemented within the MT4 platform that makes conducting analysis of the charts a breeze. Set price alert notifications via SMS, email and pop-ups for when the price reaches your target level.
MT4 supports fully automated trading via expert advisors. An expert advisor, otherwise known in the trading world as an “EA,” is basically a software program that you install onto the MT4 platform that will automatically follow instructions once a certain criterion has been met. Depending on the configuration, the software will automatically open a trading position or notify the trader to make a decision. After the position is opened, the EA can add conditions for closing the trade like limits, trailing stops, and stops.
The KOT4X MT4 platforms are available for desktop, web and mobile. The MT4 desktop platform has complete functionality. The MT4 web platform can run directly in your web browser without you needing to download or install any additional software. The MT4 mobile trading app for iOS and Android devices can be great for those of you who plan to follow the markets and manage your account whilst on the go.
MT4 Features
- User-friendly and fully customisable interface
- Access all markets and instruments from one platform
- Chart timeframes from 1 minute to 1 month
- Multiple order types including instant, pending and limit
- Technical indicators and drawing objects for market analysis
- Send custom price alert notifications
- Automated trading with expert advisors (EA’s)
- Strategy tester to back test EA’s on historical data
- Create custom trading tools such as indicators, scripts and EA’s
- Desktop, web and mobile app versions
KOT4X Platforms Summary
| Platform | KOT4X |
|---|---|
| MetaTrader 4 (MT4) | ✓ |
| MetaTrader 5 (MT5) | x |
| cTrader | x |
| Proprietary | x |
| Desktop | ✓ |
| Web | ✓ |
| Mobile | ✓ |
| Social Trading | x |
| Other | x |
One area where KOT4X is lacking is research and education. They don’t actually provide any specific trading guides or tutorial videos which could be helpful, especially for beginners. That being said, there is a plethora of information in the FAQ section on the brokers website and you could always open a demo trading account to practice using the KOT4X platform risk-free with virtual funds. You will also find plenty of MT4 tutorials online and website that specialise in investment education. If you are a beginner and looking for a broker with lots of educational content, you might want to consider IronFX instead.
KOT4X Research and Education Summary
| Resources | KOT4X |
|---|---|
| Market Analysis | x |
| Guides | x |
| Videos | x |
| Webinars | x |
| Autochartist | x |
| Trading Central | x |
| Economic Calendar | x |
| Other (FAQ) | ✓ |
KOT4X is unique from other brokers as they only accept bitcoin (BTC) for deposits and withdrawals. Fast and secure transactions when sending BTC via wallet to wallet can safeguard both you and the broker.
This has some advantages, including anonymity and privacy. Bitcoin makes it possible for buyers to complete their payments without divulging any sensitive financial information (such as credit or debit card details) to the seller.
KOT4X can send your earnings straight to you via bitcoin. You just need to request a withdrawal through your account and the broker will aim to process it for you within 48 hours. You can track the progress of the transaction on the blockchain if need be.
If you do not use cryptocurrencies then you might struggle with a lack of alternative funding options. If that is the case, then you could consider a broker such as FXChoice as they have a greater selection.
KOT4X Funding Summary
| Payment Method | Deposit | Withdrawal |
|---|---|---|
| Wire Transfer | x | x |
| Credit/debit Card | x | x |
| Electronic Wallets | x | x |
| Cryptos | ✓ | ✓ |
At this moment in time, KOT4X is not currently regulated. However, the broker states that they are in the process of applying for a license to be regulated, it can just take a while to go through. If you would prefer to trade with a regulated broker, IG are one of the most well-regulated brokers that you will find.
KOT4X Regulation Summary
| Regulator | KOT4X |
|---|---|
| ASIC (Australia) | x |
| IIROC (Canada) | x |
| CySEC (Cyprus) | x |
| SFC (Hong Kong) | x |
| JFSA (Japan) | x |
| MAS (Singapore) | x |
| FINMA (Switzerland) | x |
| FCA (UK) | x |
| CFTC (USA) | x |
| Other | x |
KOT4X Safety
Some traders and investors will be put off by the lack of regulation. However, there are those who will understand that not being regulated means that KOT4X can offer products and services to clients that a regulated brokerage cannot.
KOT4X customer support can be reached by email and by completing a short online form. There is also an automated web chat service that can point you in the right direction. I have always found them to be responsive and helpful when asking them a variety of questions.
KOT4X provides a secure ECN trading environment which permits traders to trade exclusively online. You can choose from hundreds of tradeable instruments including forex, stocks, commodities and cryptos. They have very competitive trading conditions including tight spreads, low fees and quick execution speeds. The broker is one of very few that supports bitcoin deposits and withdrawals along with 24/7 crypto trading. It is quick and easy to create an account to start trading CFDs through KOT4X in just minutes via desktop, web or mobile. Overall, I think they can be worth considering if you like to deal in cryptocurrencies and do not mind the lack of regulation.
