Kot4x Review 2022

Safety & Regulation

Is Kot4X A Good Broker?

As mentioned earlier, the broker is an offshore one and it was opened in 2018. It is located in St.
Vincent and the Grenadines. In terms of safety, things are not that clear with Kot4x because it isn’t regulated by any authority. After all, we did mention this is an unregulated broker.

Is Kot4X Safe Or A Scam?

Still, not being regulated can put users at risk, as an unregulated broker is not able to offer protection the same way a legit one can. As a result, most people are skeptical when it comes to registering on Kot4x, and rightfully so.
At the same time, the website talks about how they are very careful when it comes to the safety and security of their clients’ funds, as well as personal information. You can only take their word for it. At the end of the day, it’s up to the clients whether they trust the site with personal information and funds or not.

Accepted Countries

As for where the website is available, there are some countries restricted from trading with Kot4x. For instance, people from Burma, Bahamas, Botswana, Cuba, Congo, Cambodia, Iran, Syria, Panama, Iraq, Lebanon, Pakistan, North Korea, Libya, Japan, Ghana, Somalia, Sudan, Trinidad & Tobago, Yemen, Vietnam, Tunisia, Zimbabwe, Malta, and Ethiopia are restricted. Products and features are not available to clients from countries with legal restrictions in place.

Fees

In fact, three of the four types come with fees. The Standard and the Pro account have a $7 fee per lot, whereas the Mini account has a $1 per lot fee. As for the VAR account, it comes with no commission fee.

Other than that, there are other broker fees we came across. For instance, on the Terms and Conditions page, we read that Kot4x has every right to charge commissions for telephone trades. However, they do not offer more details on the amount they might charge, so this is a little confusing.

But they do offer details on another fee, respectively an inactivity fee of $10 or equivalent in an alternative currency if you haven’t traded within the last 6 months. So, if you want to trade with them, you need to make sure you’re not inactive for too long or you’ll start being charged.

Account Opening

Using a live account, we go through the whole registration process up to the point of placing the first trade.

After that, you only need to verify your email address, after which you can start submitting certain documents that will help verify you.

These include a driver’s license or passport to verify your identity, and a bank statement or utility bill that helps verify if your address is legit. Once the team is done checking all your documentation, you can fund your account and start trading.

As mentioned, you can choose from four different types of accounts. These include standard, pro, VAR, and mini. If you open a Standard account, you will be required to make a minimum deposit of $50. This amount is pretty low compared to the industry requirement, which makes it quite sketchy. For all beginner accounts, $250 is the acceptable first deposit requirement. For pro accounts, you are asked to make a deposit of $500.

However, when you make such a big deposit, you’d expect differences between the different types of accounts. There isn’t any between the Pro one and the Standard one, though, so it’s not exactly worth the $500 deposit. We were disappointed to see this during the registration process.

We noticed that we had the option to open a demo account as well. Demo accounts allow clients to try out trading strategies with virtual funds and thus test out the service before committing to a full account. When you open a demo account, you can do so with an unlimited amount of funds, after which you can choose to leverage up to 1:500.

What Is Kot4X Leverage?

KOT4X offers flexible leverage options ranging from 1:50 to 1:500 for several instruments.

How Do I Verify My Kot4X Account?

Please ensure that you have the below documents ready when starting the verification process:

• A valid Proof of Identity (POI) document
  Please note: Check the expiry date on the ID document you submit because you will need to go through the KYC verification process again once it expires.
• A Proof of Address (POA) document.
  (Needs to be issued within the past 3 months. Please Click Here to see the types of POA’s we accept)
• A built-in Camera/Webcam. (You will need to take a live selfie photo)
  If you are using a computer, please make sure you have a webcam connected to it. If you are using a mobile phone, please make sure it has a camera on it.

Deposit & Withdrawal

Therefore, we tested the system to see how everything works. For both deposits and withdrawals, Kot4x accepts bitcoin only. You can simply start depositing your amount without worrying that a bank will delay the transfer. It will all happen quickly, and you’ll be able to start trading in no time.

Kot4x offers a guide where you can read plenty of information about buying bitcoin through Coinbase in case you have no idea how it works. Also, what’s great is that if people use bitcoin funding, it’s possible for a buyer to make payments without having to disclose any information they’re scared to share, such as their card details.

What’s more, you can keep track of your deposits or withdrawals using Blockchain.info. On top of that, when a broker makes a deposit or a withdrawal, no fees apply. But since Kot4x is not exactly detailing all the fees they may apply, it’s hard to say whether there is something else or not.

But while it’s good that it’s so easy to make withdrawals and deposits in bitcoin, we also discovered a few things that concerned us when it came to brokers. The potential client base is greatly restricted by the limited funding options, and while it may be a great thing for traders who know enough about cryptocurrency, it affects brokers. It would have been nicer to see some other funding options. For instance, the site should have considered adding things like debit or credit cards, wire transfers, or e-wallets like PayPal.

What Is The Minimum Deposit For Kot4X?

The minimum deposit of Kot4X is $15. However, if you wish to trade more instruments the minimum deposit goes up to $500.

How Long Does Kot4X Take To Deposit?

It usually takes 1-3 hours. You are required to have 3-6 confirmations for your deposit, in order to be processed. It would usually take 1-3 hours, depending on the Blockchain traffic however this can also take up to 24 hours, depending on the processing speeds of the provide

How Do I Withdraw Money From Kot4X?

To withdraw bitcoin, you have to go to the withdraw many and make sure you have the BTC wallet ID for your external BTC wallet copied. Once you do that, all you have to do is paste the wallet id into the BTC address field, and enter the amount you wish to withdraw, from your available balance.

How Long Does Kot4X Take To Withdraw?

Kot4X aims to process withdrawal requests within 24 hours. Once processed it can take 1-3 hours or as soon as 3-6 confirmations on the Blockchain before the funds will be available in your BTC wallet

Trading Platforms

This is used by traders in the entire world, so it’s a pretty good one that can be trusted for trading. What makes it so amazing is the fact that it’s easy to use and is a great option for beginners in trading. Multiple built-in trading tools are available to make sure that people find it easy to use and can trade properly.

Kot4x users can use different devices to start trading with MetaTrader 4. First, you have a web platform that doesn’t require any download. You simply access it from your browser, and you can start trading. It also works in most modern web browsers, and it doesn’t require you to download any additional programs. Other than that, you have the desktop app – you can download it and start trading without having to keep an extra tab open in your browser.

Furthermore, there is a mobile app that you can download and use on both Android and iOS systems. It is a great option for people who are on the go but still want to keep trading.

Look And Feel

In terms of look and feel, the trading platform is great. The design looks amazing, and the platform overall is user-friendly. All the features can be found with ease and it allows you to start trading as soon as possible.

Login And Security

Kot4x allows you to enable two-factor authentication. 2FA comes in two types with Kot4x. You can enable the 2FA via an authenticator app, or SMS. So, you will have to go through the necessary process of activating one of them and keep your account safe.

Search Functions

The search functions are pretty good, and you can easily browse through the categories available or just type the name of the product you’re looking for.

Placing Orders

Placing orders is also easy with MetaTrader 4, regardless of the device you use for trading. It’s user-friendly and quite intuitive.

Alerts And Notifications

You can set alerts and notifications through various methods. They can be either via platform pop-ups, email, or SMS.

How Do I Connect Kot4X To MT4?

Here is a step by step guide:

1. Firstly, start by going directly to KOT4X.com. On the top taskbar on the far right click Download MT4 or click here
2. Click Run once the file downloads (If you are using Microsoft Edge/Internet explorer)
3. Select KOT-Live2 or KOT-Live3. The email that you would receive when creating your account would tell you which server to choose. Alternatively, you may check the “My Accounts” section in your trading account to note your needed server choice.
4. Select Next
5. Select Existing Trade Account
6. Enter the MetaTrader account details from the email that you received when you created an MT4 account, making sure to use your trader password.
   Click the Login button.
7. Wait a few moments for everything to load. Once loaded you will see your account on the left!

Markets & Financial Instruments

This includes things such as Forex commodities, indices, currency pairs, energies, stocks, metals, and cryptocurrency.

Aside from that, we also discovered that it is possible to use CFD trading. So, you can pretty much speculate on the fluctuating costs without having to be the owner of the underlying asset. If you have enough knowledge of how CFDs work, as well as the risks that online trading comes with, you should not have any problem trading.

There are 11 indices, 105 stocks, 31 cryptocurrencies, 55 Forex currency pairs such as minor, major, and exotic FX crosses, as well as 9 commodities that include precious metals and energies.

Markets Research & Trading Tools

However, MetaTrader 4 should already have the necessary tools that allow you to meet the needs of your average retail trader.

Bonus And Promotions

The Kingdom of KOT4X now grants you a 20% Withdrawal Bonus.

At Kot4X they are constantly offering the members of their kingdom new opportunities to make money and reach their financial objectives. This time, you can get a 20% credit bonus on your withdrawal amount in the MT4 Account of your choice if you retain the funds in your account. Use it to trade and maximize your diversification, and profit opportunities. More details here.

Customer Service

We didn’t have any issues and the person we spoke to was answering the questions promptly and was not being exactly pushy.

However, in order to be connected with customer support, we had to first complete a form on the website by sending them an email. We found that email communication is your best option with Kot4x. Although an online chat function is available, it’s not the best option. It is automated, so you don’t talk to any Kot4x support directly. The feature is only able to answer a few general questions. So, it’s not always beneficial or helpful.

We also wanted to try calling the team, but sadly, there isn’t any telephone number that allows you to reach them, so this wasn’t a success. Without a phone number, you have to wait until someone from customer support sees your message and can reply. As a result, delay times will apply.

Client Education

It would be great if they could change this in the future to provide materials that could educate clients and thus help them with their trading endeavors.

Without this, it’s harder for clients to gain trading knowledge and skills, and it may take them longer to become successful traders.

Conclusion

Kot4x has some good features and some advantages, but it is not a regulated broker, and this makes it very unsafe to use. You can only use bitcoin trading, and there is no phone support option for people who need help urgently. If you do want to use it, we recommend using a demo account first to test the platform and see if it’s right for you.