KOT4X is an unregulated crypto and forex broker that offers 4 account types, nearly 200 trading instruments with floating spread, a minimum deposit of USD 25 and the MT4 trading platform. The brokerage claims to offer super-fast order execution, focus on customer privacy, and provide unlimited growth opportunities. Overall, some troubling weaknesses are immediately apparent, such as the lack of regulation and confusing account withdrawals and deposits associated with Bitcoin.
There are 4 live accounts available at KOT4X that differ mainly in the spread offered and the minimum deposit required. The company claims to use the Straight Through Processing (STP) model and explains that there is no manipulation by the dealing desk. It also claims there will not be any re-quotes as each trade is placed in the KOT4X aggregator, which selects the best possible price.
Mini Pairs Account – This account requires an initial deposit of only USD 25 and offers CFD trading on 29 currency pairs and 13 indices. Spreads on major currency pairs start at 1.0 pips and a commission of USD 1 per lot traded will be charged. The maximum leverage is 1:500.
Standard Pairs Account – Here you need to deposit at least USD 50, and you will be able to trade CFDs on 57 currency pairs, 13 indices. 8 commodities, 38 stocks and 23 cryptocurrencies. Spreads on the main currency pairs start at 0.8 pips and the commission charged is USD 7 per lot traded. The maximum leverage is 1:500.
Pro Pairs Account – If you plan to trade only currency pairs and gold, here the conditions for that are most suitable. Investing a minimum of USD 500 you have CFDs on 28 currency pairs and gold. Spreads on the main currency pairs start at 0.4 pips and the commission charged is USD 7 per lot traded. The maximum leverage is 1:500.
VAR Pairs Account – The minimum deposit required here is USD 250 with the ability to trade 28 currency pairs having a minimum spread of 1.2 pips. At the expense of the higher spreads, trading in this account is commission-free, and the maximum leverage is again 1:500.
KOT4X is an unregulated broker, which means it is not bound by any leverage limit that major regulators around the world require of brokers. That is why the maximum leverage for currency pairs reaches 1:500. For cryptocurrencies it is 1:100, for shares 1:20, for indices 1:200 and for commodities 1:200. Be careful because higher leverage leads to unreasonably high risks of loss.
KOT4X offers the famous MetaTrader 4 (MT4) trading platform. It is the most popular online trading platform and will surely cover your needs. It is interesting to note that KOT4X does not provide information about this trading platform. Traders are probably supposed to know about MT4. All variants of MT4 are available, including MT4 for windows, android, iOS, MAC, as well as MT4 WebTrader.
The tools offered are divided into 5 classes:
Currency pairs – The number of currency pairs offered depends on the type of account and can reach 55. Their minimum spread starts from close to zero and reaches 1.2 pips.
Indices – The company offers CFDs on 13 indices including NASDAQ 100, S&P 500, etc.
Commodities – CFDs on 8 commodities are available, including Crude Oil, Gold, and Silver.
Shares – CFDs of 38 major US shares are available such as Apple, Amazon, Boeing, etc.
Cryptocurrencies – CFDs on 23 cryptocurrencies including BTC, ETH, etc.
Funding of the KOT4X account can be done by direct transfer of Bitcoin to another Bitcoin wallet, debit/credit card through a third-party provider, and debit/credit card through e-commerce.
The brokerage claims that it aims to process withdrawal requests within 24 hours. Please note that it takes 2-5 business days to process a withdrawal request plus an additional 2-3 business days for the funds to reach the appropriate credit card or bank account, the company warns. In addition, once processed, it may take 1-3 hours or as soon as 3-6 Blockchain confirmations before the funds are available in your BTC wallet. KOT4X claims not to charge any deposit or withdrawal fees.