KOT4X is an unregulated forex broker that offers 4 account types, ECN/STP trading, and the MT4 forex trading platform. We’ll look at their key features and if you should consider this unregulated broker.
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KOT4X Summary
Although we generally advise against using unregulated brokers like KOT4X, this broker offers features that may attract traders, particularly its ability to fund accounts with cryptocurrencies. This aspect can be appealing to those seeking anonymity while trading. Other features include TradeLocker powered by TradingView trading platform, a trading platform for chart traders in the beta stage, and the ever-popular MT4 trading platform.
KOT4X offers two pricing options, the KOT4x Pro Pairs with an ECN or STP-style trading execution and commission and the KOT4x VAR pairs account without commission.
KOT4X does not list its spreads for each 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 the 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.
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Broker Spread Comparison
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|---|---|---|---|---|---|
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0.71 | 0.40 | 0.50 | 0.30 | 0.30 |
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0.30 | 0.25 | 0.50 | 0.23 | 0.30 |
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N/A | 0.30 | 0.50 | 0.50 | 0.20 |
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0.30 | 0.83 | 0.50 | 0.85 | 0.20 |
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0.68 | N/A | N/A | 0.59 | 0.24 |
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0.70 | 0.70 | 0.60 | 0.60 | 0.30 |
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0.80 | 1.10 | 1.10 | 0.60 | 0.30 |
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0.40 | 0.30 | 0.70 | 0.20 | n/a |
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1.23 | 1.41 | 1.17 | 1.08 | 0.77 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/01/2025
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 the KOT4x VAR pairs account is 1.2 pips, you could save $5.00 for each lot you trade by choosing the right broker.
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Standard Account Spreads
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|---|---|---|---|---|---|
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1.10 | 1.20 | 1.40 | 1.40 | 1.40 |
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1.13 | 1.01 | 1.71 | 1.66 | 1.12 |
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0.90 | 1.30 | 1.40 | 1.40 | 1.40 |
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0.70 | 2.20 | 1.10 | 1.10 | 0.60 |
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1.20 | 0.90 | 1.50 | 1.80 | 1.80 |
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1.20 | 1.40 | 1.50 | 1.60 | 1.50 |
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0.62 | 0.77 | 1.27 | 0.83 | 0.74 |
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0.60 | 0.70 | 0.80 | 0.90 | 0.60 |
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1.10 | 1.20 | 1.30 | 1.30 | 1.30 |
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1.20 | 1.30 | 1.20 | 1.30 | 1.10 |
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1.70 | 1.60 | 1.70 | 2.00 | 1.60 |
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1.20 | 1.80 | 1.90 | 1.90 | 1.60 |
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1.30 | 1.70 | 2.10 | 1.40 | 1.50 |
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1.12 | 1.64 | 1.30 | 1.30 | 1.38 |
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1.32 | 1.95 | 1.37 | 1.70 | 1.40 |
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1.20 | 1.30 | 1.50 | 1.30 | 1.20 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/01/2025
Use the calculator below to compare KOT4X’s trading costs with competitors such as Pepperstone, Eightcap and Blueberry Markets, adjusting for trade size, currency pair, and base currency.
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The deposit fees at KOT4X are as follows:
Meanwhile, there are no fees for withdrawals and inactive accounts.
Verdict on KOT4X Spreads
KOT4X has some decent spreads, paired with fair commissions. However, the problem remains with their lack of transparency with their spreads.
| Trading Plaform | Available With KOT4X |
|---|---|
| MetaTrader 4 | No |
| MetaTrader 5 | No |
| cTrader | No |
| TradingView | No |
| Proprietary Platform | Yes |
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 types 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:
Verdict on KOT4X Trading Platforms
While the broker only has MT4, we did give them a 6/10 rating in this category because of the platform’s reliability.
KOT4X has a low trust score of 19, mainly because they’re unregulated. The other factors involved are the broker’s reputation and reviews.
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, you can read our KOT4X vs Hugosway comparison, or full Fondex Review, Hankotrade Review or Trader’s Way Review. Like with these brokers, we at CompareForexBrokers, never recommend unregulated brokers. While an unregulated broker may be completely trustworthy and legit, we see few benefits in using one.
Choosing a regulated broker means you will get the following benefits:
While we have no reasons to believe KOT4X is not legitimate and your funds are segregated, we can’t determine if they are engaging in legitimate practices.
It is hard to determine if an unregulated brokerage website is a scam or not because its licence 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;
| KOT4X Safety | Regulator |
|---|---|
| Tier-1 | X |
| Tier-2 | X |
| Tier-3 | X |
Security
The client’s funds are located in segregated independent accounts, therefore making it easy to distinguish different client funds. Another benefit is that the 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 that 2-factor authentication can be enabled giving another layer of protection to the customer’s accounts.
KOT4X was founded in 2019 and has headquarters in St. Vincent and the Grenadines. They have a low search volume in Google with only 22,200 hits monthly.
The broker has received poor reviews on TrustPilot with only a score of 1.6/5.0 from 76 users.
Verdict on KOT4X’s Trustworthiness
Generally, we do not highly recommend trading with unregulated brokers. However, some brokers do have redeeming qualities that overshadow that factor. Proceed with caution with this broker since their low review scores can also be telling.
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.
The minimum deposit required by KOT4X is $25. 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.
KOT4X account funding can be done via these methods:
When using a debit/credit card via the eCommerce pay method. The minimum funding amount is $50 with a maximum of $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.
These methods can be used to withdraw funds from the KOT4X account;
*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 AUD 200 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.
Verdict on KOT4X Funding
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 utilise bitcoin as their main transaction method, there are hidden blockchain transfer fees that are not stated.
KOT4X offers a good range of markets for CFD (contract for difference) trading with access to over 250 trading instruments and 6 asset classes: currency pairs, cryptocurrency, stocks, indices, commodities, and metals.
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.
Cryptocurrencies
KOT4X offers 31 different cryptocurrencies to be traded including;
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;
Leverage with KOT4X indices is 1:200, most regulated brokers limit leverage to 1:20.
Commodities
KOT4X offers 9 different commodities to trade, including;
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.
Stocks
KOT4X offers 105 different stocks to buy or sell, the broker does not advise if you can trade stocks outside America. Stocks available include:
The leverage for stocks is 1:20.
Verdict on KOT4X Trading Products
KOT4X has an adequate range of trading products. However, if you need more, there are other brokers worth looking into.
The customer service for KOT4X has 3 different ways to help.
While KOT4X has a callback, they 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 accounts. 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.
Another massive advantage of KOT4X is its user-friendly website which 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.
Verdict on KOT4X Customer Support
The have a fair customer support, and FAQ section loaded with a lot of information.
KOT4X does not have an education centre for new traders who 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 want 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.
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.
KOT4X requires a minimum deposit of $25 for traders to open a trading position.
When you open a demo account with KOT4X, you will be able to select the leverage you want. After which, they will add virtual funds to your account. You can use these funds to demo-trade, build your strategy, test your skills, and play around the financial market with no risk.
Proceed with caution with this broker since they are unregulated and have poor reviews on TrustPilot.
KOT4X is an unregulated broker, meaning they are not bound by any leverage restriction that reputable regulators around the world may require of brokers. 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.
Withdrawal requests are processed within 2 to 5 business days.
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Ask an Expert
What broker would you recommend for a US resident to trade on MT4 or MT5 that is regulated?
We covered this topic recently on this page Best MT4 Brokers For US. Hope this helps
As far as we know, no US regulated broker offer MT5
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
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
What authenticator does KOT4X use?
KOT4X uses two-factor authentication (2FA).