KOT4X is a new forex broker with an unusual design and creative approach to trading. From this review you will find out if you should trust this broker or is it just another scam.
So what do the Kings of Transparency offer customers?
| Official site | https://kot4x.com |
| Year of foundation | 2019 |
| Regulated by | |
| Trading instruments | Forex (53), CFDs on stocks (27), futures (10), indices (8), metals (4), energies (3), cryptos (13) |
| Min. lot size | 0.01 |
| Spreads and commissions | Depends on the type of account From 0.8 pips and 7$/lot (Standart) |
| Leverage | From 1:50 to 1:500 |
| Margin Call/Stop Out | 100%/70% |
| Assets | 115+ |
| Minimum deposit | $ 25 |
| Minimum withdrawal | |
| Bonus | |
| Account types | Demo, ECN |
| Execution of orders | Market |
| Deposit and withdrawal methods, fees | 2 methods: Bitcoin, Bitcoin via Instacoins. There is a conversion fee |
| Trading hours | 24/5 24/7 (for crypto) |
| Platform versions | MT4 (Web, PC and mobile app) |
| Affiliate program | |
| Most popular | KOT4X in Jamaica, Nigeria, USA, South Africa, Canada, UK, France |
| Provision of services in the US, UK, Canada, European Economic Area |
| Official site | https://kot4x.com |
| Year of foundation | 2019 |
| Regulated by | |
| Trading instruments | 115+ Forex (53), CFDs on stocks (27), futures (10), indices (8), metals (4), energies (3), cryptos (13) |
| Spreads and commissions | Depends on the type of account From 0.8 pips and 7$/lot (Standart) |
| Most popular | KOT4X in Jamaica, Nigeria, USA, South Africa, Canada, UK, France |
| Provision of services in the US, UK, Canada, European Economic Area |
| Min. trade size | 0.01 |
| Leverage | Up to 1:500 |
| Account types | |
| Minimum deposit | $ 25 |
| Minimum withdrawal | |
| Deposit & withdrawal methods | 2 methods: Bitcoin, Bitcoin via Instacoins |
| Payment Fees | Conversion fee |
| Trading hours | 24/5 24/7 (For crypto) |
| Trading platforms | MT4 |
| Mobile App | |
| Demo | |
| Copy Trading | |
| AT/Robots | |
| Bonus | |
| Affiliate program |
Is KOT4X regulated and legit?
The broker was founded in 2019, belongs to the company KOT4X Ltd, established under the laws of St. Vincent and the Grenadines.
There is very little information about the company on the site: not even a full address and registration number. It is possible that this company is fake.
The broker KOT4X is not regulated. There are many brokers established in Saint Vincent and the Grenadines due to low financial requirements. But they don’t regulate brokerage.
KOT4X’s clients will not be able to rely on legal assistance in case of a broker’s fraud. Therefore, the Kings of Transparency are not reliable and legit.
At the same time, the Kings of Transparency can provide services in countries where this isn’t limited by local legislation. In addition, the broker does not accept clients from certain countries.
Currently, KOT4X is best known in Jamaica, Nigeria, USA, South Africa, Canada, UK, France.
Prohibited countries: Bahamas, Botswana, Cambodia, Congo, Cuba, Ethiopia, Ghana, Iran, Iraq, Malta, Lebanon, Japan, Democratic Republic of Congo (Republic of Zaire), Libya, Pakistan, South Korea, Myanmar, Somalia, Sri Lanka, Panama, Sudan, Syria, Trinidad and Tobago , Tunisia, Vietnam, Yemen, Zimbabwe.
The next part is of greatest interest.
KOT4X vs Hugo’sWay
The review shows that brokers KOT4X and Hugo’sWay definitely belong to the same owner. They do not state this and even tried to hide the similarities. Of course, they have different creative and unusual designs. Trading conditions such as the number of assets, spreads and commissions differ slightly. Different companies are also listed in the terms and conditions.
However, the similarities between KOT4X vs HugosWay are obvious. They have exactly the same terms and conditions, live customer service chat, company locations (if they are real) and even a list of restricted countries. In addition, most trading conditions are the same: leverage, 2 types of accounts (Demo and ECN), platform types, payment methods, and others.
If this is not enough, then you can register and login. Brokers have exactly the same personal account.
They both use cryptocurrency payment methods such as Bitcoin and Bitcoin via Instacoin. Cryptocurrency transactions leave no trace. Traders will not be able to prove they made a deposit.
Therefore, KOT4X and HugosWay are definitely scam brokers. In this way they try to attract and deceive as many traders as possible. Trustworthy companies don’t create multiple brokers alike.
That’s why it is worth choosing a different and more reliable CFD broker.
Conclusion
As you can see from the KOT4X review, the broker is a scam. They are not the Kings of Transparency at all. There you can definitely lose your funds.
The company changed some of the trading conditions and created a new design. However, this was not enough. The similarities between KOT4X and Hugo’s Way are obvious. Their fraudulent scheme remained the same: attracting customers with a striking design, lack of regulation and cryptocurrency transactions. Of course, clients will no longer be able to withdraw their funds. Traders confirm this in their reviews on various Internet resources.
It is recommended to choose a more reliable and secure broker for forex and CFD trading.
Be the first to leave a review.
