Summary Of KOT4X

The Kings of Transparency (KOT4X) is an online forex broker that specializes in helping you trade Contracts For Differences (CFDs) such as Forex, crypto, stocks, and commodities. KOT4X has some good features such as low minimum deposits, decent commissions, the popular MetaTrader 4 (MT4) platform, and a choice of 4 different account types. However, also has some concerning weaknesses such as lack of regulation, sub-par customer service and confusing account withdrawal and deposit when it comes to bitcoin.

kot4x below top left logo
🗺️ Regulation Country Unregulated
💰 Trading Fees Variable Spread with no commission<
📊 Trading Platforms MT4 Trading Platform
💰 Minimum Deposit $50
💰 Withdrawal Fees $0
🛍️ Instruments Offered Forex, Indices, Stocks, Crypto, Commodities
💳 Credit Card Deposit Yes

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Account Types

KOT4X uses a live MT4 account and offers 4 types of trading accounts, these are PRO Pairs, VAR Pairs, Standard Pairs, and Mini Pairs. These account types mostly differ through their commission structure and spreads, meaning each is ideal for a different type of trader.
Kot4x overview of features

Below, we look at the similarities and differences between each account type.  We found the accounts available with KOT4x quite strange. We cannot understand why you would choose either the Standard Pairs or Mini Pairs accounts over the Pro Pairs. It appears only the VAR account presents a genuine alternative.

Key Features Common To All The Accounts

  • No Islamic account- all accounts have swaps which makes them unsuitable for sharia law
  • There is no dealing desk as they use a combination of ECN and STP trading execution models
  • Swaps are allowed
  • Scalping and hedging are allowed
  • Demo accounts are available for new traders

Kot4x Account types

Mini Pairs – Micro-Lot Trading And Limited Pair Choices

This account restricts your lot trading size to micro-lots (1000). Other trading accounts allow trading lots for micro, mini, and standard lots (1000 to 100,000).

Micro-lot is the smallest tradeable lot that most forex brokers will offer. Mini Pairs account is therefore an option if you are new to trading and want to keep your risk to a minimum while you practice trading. As lot sizes are smaller, the capital you will need to open a position is lower.

In terms of costs, it does appear that spreads are in line with the Pro Pairs trading account. While the commission is only $1.00, the typical spreads start from 1.0 pips (1 pip = $10.00). This means you will pay $11 to open your position.  This is the same as the Pro Pairs account, which has a $7.00 commission and spreads starting from 0.4 pips (0.4 pips = $4.00).

When choosing this account, beware that the main limitation is that you can only choose 29 forex pairs. This is different from the other KOT4x accounts which allow a choice of 55 forex pairs, stocks, commodities and cryptocurrencies.

Given you can easily reduce lot sizes when using the Pro Pairs account, and it offers more products to trade with, there doesn’t appear to be a good reason to pick this account.

  • $1.00 commission per lot
  • Typical spreads starting from 1.0 pips
  • Limited to 29 Forex pairs

Standard Pairs – Medium Spreads + Commissions

Not to be confused with what other brokers call Standard accounts (which have no commissions), the KOT4x Standard Pairs account is a commission account with a $7.00 commission for each standard lot you trade when you open and close your position.

This account has the same conditions as the Pro Pairs accounts except that the spreads are slightly wider.  We are supposed to be experts, but we don’t actually know why you would go for a more expensive account over an identical cheaper account. We asked the KOT4x live chat and their response was quite comical, we discuss this conversation in our customer service section. We question the whole point of offering this account.

  • $7.00 commission per lot
  • Low spreads starting from 0.8 pips
  • Full range of markets

PRO Pairs – Low Spreads + Commissions

This is the classic ECN style account and the account recommended for most traders. This account has the lowest spreads with typical spreads starting from 0.4 pips. The Pro Pairs account has the tightest spreads as commissions are not included with the spread. You pay commission in addition to the spread with commission costs being $7.00 per standard lot.

With this account, you get access to KOT4x’s entire range of products.

  • $7.00 commission per lot
  • The lowest typical spreads start from 0.4 pips
  • Full range of markets

This account uses Electronic Communication Network (ECN) and Straight Through Processing (STP) style order execution to bring you the best quotes KOT4X can offer. This type of trading means the broker connects you with liquidity pools to trade meaning there is no dealing desk.

KOT4x ECN execution

VAR Pairs – No Commission Standard Account

The VAR account is what most brokers call their Standard Account, it has no commissions making it best for beginner traders or discretionary (long-term) traders.

Typical spreads for VAR Pairs account start from 1.2 pips, so are wider than other account types as commission costs are already absorbed into the spread. This makes costs slightly higher than other KOT4x accounts, but the simpler cost structure means costs are less complicated for beginner traders.

  • $0 commission per lot
  • The highest typical spreads start from 1.2 pips
  • Full range of markets

Commission Per Account

The commission you will pay will vary according to your home currency. This is how much you will pay for each account in commission depending on your country:

Account Types USD ECN Account AUD ECN Account EUR ECN Account CAD ECN Account BIT ECN Account
Standard 7 USD 7 AUD 7 GBP 7 CAD 1500 BIT
Pro 7 USD 7 AUD 7 GBP 7 CAD 1500 BIT
Var 0 USD 0 AUD 0 GBP 0 CAD 0 BIT
Mini 1 USD 1 AUD 1 GBP 1 CAD 15 BIT

Leverage

KOT4X is an unregulated broker, meaning they are not bound by any leverage restriction that reputable regulators around the world may require of brokers.

Below are the listed leverage amounts for major markets KOT4X serves.

  Forex Cryptos * Stocks *
 Indices * Energies * Metals *
Leverage Size 500:1 100:1 20:1 200:1 200:1 200:1

If you are in a country that restricts leverage and you really want higher leverage, then leverage is one of the few reasons to genuinely consider this broker.

That said, we never recommend using an unregulated broker, leverage is a risky tool best used by professional traders who know how to use it properly. Considering that most professional brokers only use a maximum of 4:1 leverage, it is hard to think there is a need to use the leverage of 200:1 let alone 500:1.

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Our Rating

The overall rating is based on review by our experts

5.00
Spreads
5 / 10
Leverage
10 / 10
Trading Platform
7 / 10
Risk Management
1 / 10
Range of Markets
6 / 10
Customer Service
1 / 10

Spreads

KOT4X does not list its spreads for each individual currency pair. While not all brokers list their average spreads, we look more positively at brokers that do publish their spreads as it shows the broker is confident enough in their speeds to be transparent.

Below are the minimum typical spreads for each account KOT4x offers:

  PRO Pair Standard Pair VAR Pair MINI pair
Typical Spread From 0.4 From 0.8 From 1.2 From 1.0

The KOT4x Pro Pairs account is very similar to commission accounts of other brokers in that they use ECN or STP style trading execution to bring low spreads. Given the execution is much the same, the comparison of this type of account to other brokers is fair.

You will notice other brokers’ average spreads are lower than KOT4x. Some brokers’ average spread is as low as 0.09 pips which represents a potential saving of $3.10 for each lot you trade.

Broker Spread Comparison
0.43 0.47 0.67 0.59 0.26
0.30 0.25 0.50 0.23 0.14
n/a 0.30 0.50 0.50 0.20
0.30 0.83 0.50 0.85 0.20
0.68 N/A N/A 0.59 0.24
0.70 0.70 0.60 0.60 0.30
0.80 1.10 1.10 0.60 0.30
0.40 0.30 0.70 0.20 n/a
1.29 1.60 1.05 1.17 0.79

Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/11/2022

Compare Low Spread Brokers >>

 

It is a similar story for no commission accounts. Some brokers offer spreads as low as 0.7 pips per lot. As the typical minimum spread for KOT4x VAR pairs account is 1.2 pips, you could save $5.00 for each lot you trade by choosing the right broker.

Standard Account Spreads
0.77 0.84 1.40 1.19 0.86
1.13 1.01 1.71 1.66 1.12
0.70 1.30 1.30 2.20 1.40
0.80 0.90 1.70 1.80 0.80
1.20 1.20 1.50 2.20 1.70
1.30 1.50 1.80 1.70 1.40
0.62 0.77 1.27 0.83 0.74
1.10 1.20 1.40 1.50 1.20
1.30 1.50 1.90 1.80 1.90
1.20 1.20 1.40 1.40 1.20
1.20 1.20 1.40 1.40 1.40
1.30 1.80 1.90 1.90 2.00
1.30 1.70 2.10 1.40 1.50
1.20 1.40 1.40 1.50 1.20
1.24 1.77 1.65 1.81 1.33
1.40 1.20 1.90 1.90 1.60
1.70 1.80 2.00 2.20 1.60

Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/11/2022

Account Fees

Hidden account fees are one of the reasons that people get concerned when coming into the trading space on a live account. The good thing about the Kings of Transparency is that they have no withdrawal or deposit fees from the broker’s end. However, if you are using Blockchain to make a withdrawal or deposit, then there will be a processing fee from the Blockchain network.

Account Funding

KOT4X account funding can be done via these methods;

  • Bitcoin direct transfer to another bitcoin wallet
  • Debit/credit card via 3rd party provider
  • Debit/credit card via E-Commerce*

When using a debit/credit card via the eCommerce pay method. The minimum funding amount is $50 with a maximum $300 per transaction and 2 transactions a day. Therefore, if the trader is looking for a large account balance they would have to purchase bitcoin first and get it transferred to their KOT4X account.

Account Withdrawal

These methods can be used to withdraw funds from the KOT4X account;

  • Bitcoin direct transfer to another bitcoin wallet
  • Credit/debit card from 3rd party platform
  • Credit/debit card via E-Commerce*

*If making a deposit using a credit/debit card using e-commerce then it is only possible to withdraw the same amount via debit card into your bank account. For example, if you deposited $200 AUD and after a few good trades, the account is now valued at $400. KOT4X only allows the trader to withdraw their initial deposit amount of $200 into their bank account. The other $200 has to be withdrawn via Bitcoin on a third-party platform like Coinbase.

Minimum Deposit

The minimum deposit amount is $10 for Bitcoin purchases, which have to be done through a third-party broker. The recommended crypto broker on KOT4X’s website is Coinbase as they provide detailed instructions on how to set up an account and send money to the KOT4X crypto wallet.

If using a debit or credit card via 3rd part platform then there will be a minimum deposit of $25 to $50 with no maximum amount.

Account Fees Conclusion

In conclusion, the process of having to use bitcoin to fund a trading account seems long-winded and tedious. Even though KOT4X doesn’t charge any deposit or withdrawal fees because they utilize bitcoin as their main transaction method there are hidden blockchain transfer fees that are not stated.

Visit KOT4X >>

Trading Platforms

KOT4X only offers one trading platform, this trading platform is MetaTrader 4 (MT4). As this platform is the world’s most popular trading platform for traders and brokers you can be sure you are getting a reliable trading platform to cover your needs.

It is interesting to note, that KOT4X doesn’t have any section devoted to information about this trading platform. We presume they expect traders will know of MT4. The KOT4X FAQ section however does cover 16 questions to help you use MT4. All flavors of MT4 are available including MT4 for windows, android, iOS and MAC. MT4 WebTrader for trading through your browser is also available.

Features of MetaTrader 4 include:

  • It connects the trader to real-time prices and quotes to execute their trades at the most accurate rates
  • It allows for multiple trading orders to be placed at once as well as trailing stops, take profit, and stop-loss tools
  • Option of automated trading strategies using Expert Advisors
  • MT4 has a full range of charting and technical analysis tools to forecast price movements. There is also an option for the trader to build their own indicators too
  • Demo accounts are available for beginner traders getting used to the platform

MetaTrader4 feature table

Regulation – Is This A Scam Broker?

KOT4X is an unregulated broker which means that it has not been approved by any regulatory financial authority.

This isn’t the first unregulated broker we have reviewed, other brokers include Hugosway and TradersWay. Like with these brokers, we at Compare Forex Brokers, never recommend unregulated brokers. While it is perfectly possible that an unregulated broker is completely trustworthy and legit, we see few benefits in using one.

Choosing a regulated broker means you will get the following benefits:

  • Transparent trading operations: A good regulator requires brokers to submit periodic financial reports for auditing and ensures spreads from liquidity providers are not manipulated.
  • Safety of your fund – Regulators require brokers to segregate your funds. This ensures your cash is safe from the broker’s hands.  Some regulators also require the brokers to keep a reserve aside to prevent the broker from going into liquidation.
  • Dispute resolution: A good broker will have a resolution procedure in place for clients to resolve complaints they may have with the broker
  • Protection from fraud: Regulators ensure the broker is legit and not a scam
  • Product disclosure statement: Regulated brokers will have a product disclosure statement. This ensures your clients know exactly what they get for the broker’s services

While we have no reasons to believe KOT4X is not legitimate and your funds are segregated, it is not possible for us to determine if they are engaging in legit practices.

It is hard to determine if an unregulated brokerage website is a scam or not because their license may be pending. This is the case for KOT4X as they are located in St. Vincent and The Grenadines and are currently in the process of applying for their license according to their website. One benefit of being an offshore broker is that they can accept clients from all around the world.

For this reason, we recommend a broker from a major regulatory body such as:

The main regulatory bodies are;

  • ASIC (Australian Securities and Investments Commission) – Australia
  • FCA (Financial Conduct Authority, UK) – The United Kingdom
  • CySec (Cyprus communities & Exchange Commission) – CySEC
  • DFSA (Dubai Financial Services Authority) – United Arab Emirates
  • FMA (Financial Markets Authority) – New Zealand

Security

The client’s funds are located in segregated independent accounts, therefore making it easy to distinguish different client funds. Another benefit is that client’s funds are kept off-book and won’t be used to pay creditors in the unlikely event that KOT4X has to shut down. An added security feature is the 2-factor authentication can be enabled giving another layer of protection to the customer’s accounts.

Customer Support

The customer service for KOT4X has 3 different ways to help.

  • Use their live 24/7 live chatbot on the homepage of the website
  • The contact us page within their website and fill out a request form.
  • Or just emailing their support team directly.

While KOT4X has a callback, they definitely need to implement a phone number that clients can use to contact if there is an urgent matter about their trading account that needs solving immediately.

We tested KOT4X live chat. Kot4X uses a bot to answer the obvious question however it is possible to get through to the KOT4X customer service team. Unless you wish to ask the most basic questions about the broker and its features, then you are wasting your time. We used the KOT4X live chat as we wanted to know the difference between their Standard Pairs and Pro Pairs account. They explained that Standard Pairs has medium spreads and Pro Pairs has lower spreads but they could not explain why you would choose Standard Pairs in preference to Pro Pairs.

KOT4X conversation on live chat

Education

KOT4X does not have an education center for new traders that are looking to get involved in trading, which is a little frustrating because of how difficult the financial markets are to learn. There are hundreds of articles online that KOT4x could link to beginner traders if they wanted to learn more about trading. If they had market research and analysis forums where other fellow traders could post their thoughts on the market direction it would increase the community aspect of the platform.

FAQ – Ease Of Use

Another massive advantage of KOT4X is its user-friendly website that is easy to get around and always displays a well-detailed FAQ section with any further concerns a trader might have. They have over 120 different articles with questions from; getting started and general queries to using MT4 as a platform. This makes it really easy and helpful for a customer to find the information they need as soon as possible.

Visit KOT4X >>

KOT4X Range Of Markets

KOT4X offers a good range of markets for CFD (contract for difference) trading. Trading CFDs can help diversify your portfolio and therefore can be seen as a defensive hedging strategy against large losses when trading.

Kot4x financial instruments

Leverage for Forex is a maximum of 1:500 however other CFDs cannot be changed.  Given most brokers allow you to set your leverage level up to a maximum, it does seem like a good reason to consider other brokers.

CryptocurrenciesCrypto Currencies logos

KOT4X offers 31 different cryptocurrencies to be traded including;

  • Bitcoin / USD
  • Ethereum / USD
  • Litecoin / USD

When trading cryptocurrencies, the leverage available is 1:100. Most regulators restrict crypto leverage to 1:2 or 1:5.

Indices

KOT4X offers 11 different indices to trade on including;

  • Euro Stoxx 50 – US Dollar
  • NASDAQ 100 – US Dollar
  • S&P500 – US Dollar
  • UK FTSE 100 – US Dollar

Leverage with KOT4X indices is 1:200, most regulated brokers limit leverage to 1:20.

CommoditiesOil icon

KOT4X offers 9 different commodities to trade, including;

  • Crude – US Dollar
  • Silver – US Dollar
  • Gold – US dollar

The leverage for commodities is 1:200. You will find many regulators such as ASIC, CySEC, and the FCA limit leverage to 1:20 for gold and 1:10 for silver.

StocksTesla icon

KOT4X offers 105 different stocks to buy or sell, the broker does not advise if you can trade stocks outside America. Stocks available include:

  • Apple
  • Facebook
  • Google
  • Mastercard
  • Tesla

The leverage for stocks is 1:20.

Conclusion

The Kings of Transparency KOT4X.com is an online brokerage website that can be used by all levels of traders. KOT4X offers a wide range of markets for the majority of its account types.

It is hard to recommend a brokerage website that is not regulated as it comes with inherent risks for the customers. Especially if the broker doesn’t offer a compelling feature that makes them stand out from other brokers. From what we can see, you won’t be saving on spreads or costs, so the only real benefit of choosing KOT4X is higher leverage and the ability to fund your account with Bitcoin and even this feature has its problems.

The live chat customer service is really poor as well, so don’t expect much if you need help from the broker for anything that is not already answered in the FAQ.

Visit KOT4X >>

About the author: Justin Grossbard

With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in 2014. He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally. Justin achieved Honours in Commerce and has a Master's degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees.

Compare KOT4X To Other FX Brokers With Our 'Head To Head' Comparison Tables

kot4x versus hugosway

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Bill
Bill
6 months ago

What broker would you recommend for a US resident to trade on MT4 or MT5 that is regulated?

Reply
David Levy
Forex Expert
David Levy
6 months ago

We covered this topic recently on this page Best MT4 Brokers For US. Hope this helps

Reply
David Levy
Forex Expert
David Levy
6 months ago

As far as we know, no US regulated broker offer MT5

Reply
Addie
Addie
4 months ago

Hello, I have been researching and i keep coming up with nothing. What offshore brokers can you recommend for trading Forex Pairs and CFD? As i know CFDs are not allowed to be traded in the US and no regulated US Brokers offer this. I am a Texas resident and looking for a reputable offshore platform where i can trades forex and cfds. Thank you

Reply
David Levy
Forex Expert
David Levy
4 months ago

As a US Resident, you cannot trade CFDs and we cannot recommend these brokers to US residents. If you wish to find out more about this you can read more here – Accepting Clients in the US

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