Last Updated: January 28, 2023
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Disclaimer: This article is written for informational purposes only. It is based on our opinion formed through our own experience, research, and testing of our team. While we might get compensated from link clicks on this page, the compensation does not affect how we rate them. The authors of LegitVerified are not certified financial professionals. You should consult a financial professional before making financial decisions.
KOT4X (King of Transparency) is an unregulated CFD and Forex Cryptocurrency broker that offers advanced technologies for online trading on financial markets. The company features four different account types, STP/ECN trading environment, and 250+ trading instruments.
When finding an online broker for trading on a financial market, it is vital to understand all its key features, pricing options, and user reviews before getting started. If you’re a beginner to online Forex trading, you might ask some key questions. For example, is KOT4X a safer broker? What are the minimum leverage and spreads of KOT4X? Is KOT4X worth the hype?
To help you find answers to all your queries, we have decided to review the KOT4X broker in-depth. Our impartial review will cover every aspect of this brokerage, including the pricing structure of KOT4X, users’ reviews, and trading instruments.
Before diving into the details of KOT4X, here is a quick snapshot of its advantages and disadvantages.
|4.0 out of 5 stars
|4.3 out of 5 stars
|Offerings of Investment
|4.0 out of 5 stars
|3.8 out of 5 stars
|Tools and Platform
|3.8 out of 5 stars
|Commission and Fees
|3.0 outs of 5 stars
Pros of KOT4X
- A great collection of trading instruments, including cryptocurrency
- Beneficial trading terms with high leverage and precise spreads
- Easy-to-navigate trading platform
- Excellent customer support
- Opportunity to trade using MT4 terminal- desktop, web, and mobile versions
- Six asset classes to access the trades, including metals, commodities, stock, cryptocurrency, pairs, and indices
- 24/7 cryptocurrency trading
- A comprehensible minimum deposit to start trading with KOT4X
- Four different account types
- User-friendly trading apps
Cons of KOT4X
- Non regulated
- Funding is acceptable via crypto-only
- Lack of Islamic/ swap-free accounts
- Limited payment options
- Lack of educational material
- Poor trading conditions
What is KOT4X: A Brief Overview
Founded in 2018, KOT4X broker is an offshore Forex trading platform. The company is located in St. Vincent and the Grenadines. The company was named “kings of transparency” for providing very transparent and precise services to professional traders.
As a well-respected online CFD, Forex, and Crypto broker, KOT4X provides cutting-edge technology to trade globally. One of the best features of KOT4X is that it uses MetaTrader (MT4) trading platform. MT4 trading platform is considered one of the most user-friendly online platforms because of its straightforward and customizable layout. A variety of excellent trading tools on KOT4X also make it an ideal option for both beginner and professional traders.
With its Mt4 trading platform, KOT4X aims to go above and beyond the expectations of active and seasoned traders. MT4 is highly used by CFD and Forex trading communities because it is reliable and free to use. This trading platform is created by a software firm MetaQuotes, which is highly respected among companies that provide software for financial institutions.
Is KOT4X a Regulated Online Broker?
Unfortunately, KOT4X is not regulated by any authority in the Forex market. But the company claims that they are in the process of applying for a license to be issued, which may take some time to complete. A regulation is recommended for online brokerages. Regulators work as a core of a Forex broker because they provide disclosure statements of products, fraud protection, and the safety of your funds.
Numerous reputable regulating entities govern Forex broker houses. Some notable names include:
- Financial Conduct Authority (FCA) in the UK
- Australian Securities and Investment Commission (ASIC)
- Markets in Financial Instruments Directive (MiFID)
- Cyprus Securities and Exchange Commission (CySEC)
For an unregulated broker, deciding whether or not it participates in legitimate actions becomes challenging. You also can’t determine if an unregulated broker has a segregated client account.
In the Forex market, it is pervasive to have an unregulated online broker that offers very reliable and trustworthy trading services. KOT4X is also one of the unregulated traders that provide cutting-edge technologies and excellent trading tools to cater to the needs of active and seasoned traders.
Trading Tools of KOT4X
KOT4X offers 200+ technical trading tools to download and add to the charts to extract trading tips or market information. You can also change the visual appeal of KOT4X trading tools. For example, you can select from various chart types, including line graphs, bars, and Japanese candlesticks.
KOT4X Account Types
KOT4X lets traders use the MT4 trading platform with four different types of accounts, which are:
The Standard Pairs Account
The standard pairs KOT4X account allows trading in micro-lots of 1000 units of CFDs or currency. These accounts come with spreads of 0.8 pips with a commission of $7 per lot. The minimum deposit for these KOT4X accounts is $50. The standard pairs accounts offer 57 pairs of Forex, including cryptocurrencies, metals, commodities, FX pairs, and indices to trade with.
The Pro Pairs Account
The pro pair KOT4X accounts come with a spread starting from 0.4 pips with a commission of $7 per lot. Along with different investment instruments and micro-lot trading options, these accounts offer 28 pairs of Forex. The minimum deposit limit for pro pairs accounts is $500.
The VAR Pairs Account
The VAR pairs account offers a high amount spread starting from 1.2 pips. These accounts do not have a per-lot commission. Such KOT4X statements come with 28 Forex and FX pairs as trading instruments. The minimum deposit limit for a VAR pairs account is $250.
The Mini Pairs Account
The mini pairs KOT4X account lets traders trade with micro-lots of 1000 units of currency or CFDs. Such accounts offer spreads starting from 1.2 pips with a commission of $1 per lot. You can access 27 Forex pairs with mini pairs accounts. With a minimum deposit limit of $25, mini pairs accounts offer indices and Forex as trading instruments.
These four accounts may differ in structure, but they have the following standard key features:
- Demo accounts for new traders
- Hedging and scalping are possible
- Swaps are also allowed
- The maximum leverage of 1:500 is also the same for all accounts (1:500 means that for every $1 in a client’s account, KOT4X can trade for $500). The higher leverage is, the greater risk will be. The leverage ratio of KOT4X can result in significant gains or big losses.
- A dealing desk is not available because KOT4X uses a combination of STP and ECN trading execution models.
- Islamic accounts are not allowed because all four accounts have swaps, making them unsuitable for Sharia laws.
Tradable Assets at KOT4X
KOT4X offers a variety of tradable assets. You can find 55 different investable currencies, minors, majors, and exotic pairs, 31 cryptocurrency pairs, 104 successful American stocks, and eight other indices, including FTSE100, US500, and NASDAQ, at KOT4X. KOT4X also features 200+ assets, which is enough for beginner and inexperienced traders.
Trading Platform of KOT4X
KOT4X offers a famous online trading platform: MT4. Only one trading platform does not seem enough at a glance, but MT4 provides the following exclusive features to eliminate this gap:
- You can use automated trading strategies with the help of expert advisors
- You can place numerous trading orders with MT4 at the same time
- You can get a real-time connection to the market prices
- Newbie traders can access a demo account
KOT4X Account Fees
KOT4X (Kings of Transparency) does not require any withdrawal or deposit fee from the broker’s end. But if you are using a Blockchain to deposit or withdraw at KOT4X, you may expect to pay a processing fee from the Blockchain network.
You can use the following options for KOT4X account funding:
- Credit/debit card via eCommerce
- Credit/debit card via 3rd party provider
- Bitcoin direct transfer to another wallet
For Bitcoin purchases, KOT4X demands you deposit $10 through a third-party provider. If you’re using a credit or debit card by a 3rd party broker, then there will be a minimum deposit of $25.
Costs and Spreads of KOT4X
The fee structure of KOT4X may vary depending on your nation of residency and other cost variables, such as margins and spreads. Spreads at Kings of Transparency start at 0.4 pips. Each KOT4X account type has the following minimum spreads:
Pro Pair: Starts from 0.4 pips
Standard Pair: Starts from 0.8 pips
VAR Pair: Starts from 1.2 pips
Mini Pair: Starts from 1.0 pips
KOT4X has a combination of both positive and negative reviews. The positive KOT4X reviews focus on excellent customer support, available via a live chatbot and multiple account types. We also found several negative KOT4X reviews. Traders often complain about the lack of educational material and limited payment options of the KOT4X.
Final Verdict: Is KOT4X a Worth-Exploring Trading Platform?
KOT4X (the kings of transparency) is an unregulated online trading platform offering satisfactory CFD and Forex trading services. Lack of regulation is one of the reasons professional traders hesitate to join this online broker. The trading conditions of KOT4X are not competitive compared to other online trading platforms.
KOT4X allows you to use the MT4 trading platform for multiple accounts, which is a standpoint for the company. It also lets you use Bitcoin to deposit and withdraw funds. Overall, the Kings of Transparency can be worth investing in if you’re a beginner to the financial market.