KOT4X Review

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KOT4X is an online broker that provides you with the user-friendly MetaTrader platform for trading online. The broker has a large variety of over 250 trading instruments for you to choose from including Forex, Stocks and 24/7 Cryptocurrency trading. You can choose between different account types whilst they accept bitcoin deposits and withdrawals. I found the KOT4X trading conditions to be very competitive, with low spreads and commissions along with fast trade execution speeds. The customer support team are also very prompt, polite and helpful in their responses to any questions that you may have. You can trade with minimal fuss on your computer, laptop and mobile devices. The account opening process takes just a few minutes to complete and you can start trading with as little as $10. They also have free demo accounts if you want to get a feel for the broker before making a commitment.

Summary

Kings of Transparency (KOT4X) is an online Forex, Crypto and CFD broker that provides thousands of traders all around the world with cutting-edge technology to trade various markets. They provide a secure ECN trading environment and have around 250 trading instruments including 24/7 trading of cryptocurrencies. I have held an account with them for a few years now and have not had any problem with trading, deposits or withdrawals. I like how they are able to provide certain features that other brokers cannot, including 24/7 crypto trading and funding options.

Trading Conditions

The broker operates with an STP (Straight Through Processing) execution model. This means that when a KOT4X client places a trade, there should be no intervention from a dealing desk and thus no conflict of interest between trader and broker. I would always prefer this setup to a market maker who would take the opposite side of your trade. Every trade is placed in the KOT4X aggregator which can give you the best prices available from some of the top-tier liquidity providers in the financial industry. This can also help to minimise re-quotes and ensure reliable trade execution speeds. I found the broker to have tight spreads and low commission fees, helping to save on trading costs in the long term.

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Regulation

KOT4X are an offshore broker located in St. Vincent and the Grenadines, they are currently not regulated by any regulatory authority. Despite this, KOT4X state that they operate with the upmost transparency and put great emphasis on security of client funds and personal data. The lack of regulation does however mean that the broker can provide certain trading conditions that regulated brokerages cannot, such as increased leverage. I personally don’t have any issues trusting them and have been pleased with the service received thus far. The broker does not mention any countries where they cannot accept clients from but I have read that they welcome clients from around the globe. If you find out that you are unable to open an account with them for any reason, please feel free to browse our broker ratings for alternative options.

Platforms

MetaTrader 4

KOT4X provide you with the popular MetaTrader 4 (MT4) trading platform which is used by millions of traders all over the globe. MT4 is widely regarded as one of the most user-friendly online trading platforms which makes it a popular choice amongst beginners. It also has an abundance of built-in trading tools to ensure that it has plenty of functionality for some of the more demanding traders. You can customise the platform to be as simplistic or complicated as you need it. I have used MT4 for years and never felt the need to switch to anything else as it does everything that I need it to and much more. I especially like the automated trading capabilities that it has. Another major advantage of the platform is that you will find it is readily available through most brokers. This means that you will not need to learn a new platform should you wish to try different brokers now or in the future.

MetaTrader 4 Platforms

MT4 has a fully customisable and intuitive interface. You can use the platform to follow real time charts of various trading instruments and to conduct in depth market analysis. It supports multiple time frames and order types. The platform is available for desktop, web and mobile devices running on iOS and Android. The MT4 web platform can run in most modern web browsers without needing to download or install any additional software. It is great how the web platform is always up to date but unfortunate it does not support the automated trading feature. On the other hand, the MT4 mobile app is excellent for those of you who need to access your account and trade whilst on the go. I am a big fan of trading apps and find myself often checking what is going on around the markets. It is just so convenient to be able to launch the app when on the sofa or even in bed to always keep track of my trades.

MT4 Mobile Trading App

Some of the key MT4 features include:

• Real time price quotes via the market watch window
• User friendly & fully customisable interface
• Supports multiple order types
• Multiple chart types & time frames
• Wide selection of technical indicators
• Drawing objects for price analysis
• Automated trading via expert advisors (EAs)
• Strategy tester to back test EAs over historical data
• MQL editor to develop customised indicators, scripts & EAs
• Online community & marketplace to share ideas, signals & tools
• Price alert notifications via email, SMS & platform pop-ups
• Available on desktop, web & mobile devices

Tools

The broker does not currently offer any additional standalone trading tools to support clients although the MT4 platform should have enough built-in tools to meet the needs of most traders. In the MT4 platform you will find a great range of technical indicators and drawing objects for conducting detailed market analysis across various chart types and timeframes. You can also access thousands more directly from the MQL marketplace which is easily accessible from the platform. Furthermore, the MQL programming interface enables you to develop your own unique trading tools should you wish to do so. The possibilities and trading tools are endless. If you do want some more tools to play around with, BlackBull Markets have a good selection to choose from.

Education

There are also no educational materials provided by KOT4X. It would be useful if they could provide some trading guides, tutorials, videos, webinars, daily market analysis, etc. This could help clients improve their trading skills and knowledge in order to become more informed traders. That being said, the KOT4X demo account can be a great way to get used to trading online with the MT4 platform. It is free to open and comes preloaded with virtual funds so that you can experiment with your trading strategies without any risk. Once you build up enough confidence and start seeing success, you may then switch over to a real live trading account. If you are a beginner and looking for lots of educational content, Admirals could be worth checking out instead.

Markets

KOT4X have a large selection of over 250 trading instruments in different asset classes to trade online through the MT4 platform. This includes forex currency pairs, indices, commodities, metals, energies, stocks and cryptocurrency. I feel like there is more than enough for everyone to trade here. You will find everything from major currency pairs, popular cryptos and stocks of major companies. If you are old school, gold and silver is available to trade with favourable conditions and no need to physically own the underlying asset.

• 55 forex currency pairs including major, minor & exotic FX crosses
• 8 indices
• 9 commodities including precious metals & energies
• 104 stocks
• 31 cryptocurrencies

CFD Trading

It should be noted that KOT4X offer contract for differences (CFDs) trading which means that you can speculate on fluctuating prices without actually owning the underlying asset. You can buy or sell assets depending on if you think the price will rise or fall. The difference in price from the start and end of a CFD is the profit or loss, minus any brokerage fees.

KOT4X allow you to trade with leverage which means that you can trade a greater position size than your balance would usually allow. This can increase potential profit but also increases the potential loss. You should have a clear understanding of CFD trading, how it works and the significant risks involved, whatever broker you are using.

Accounts

KOT4X give you a generous choice of 4 types of MT4 trading accounts which are the Standard Pairs, PRO Pairs, VAR Pairs and MINI Pairs accounts. The primary differences between each of the account types are the spreads and commissions. The great thing is that you get one account that allows you to access all the different pairs. This is a unique feature that sets them apart from the majority of other brokers that I have reviewed which require you to open a separate account for different trading conditions.

Those who have trading strategies that rely on the lowest spread possible may consider the PRO Pairs account which has the tightest spreads and a commission fee on top. If your trading strategy is not spread dependant then the VAR Pairs account has a spread mark-up but no commission.

Standard Pairs

• Market execution
• ECN STP trading model
• Up to 1:500 leverage
• Minimum 0.01 lots position size
• Maximum 1000 lots position size
• Forex, Indices, Commodities, Metals, Stocks, Cryptos
• Minimum $50 deposit
• Spreads from 0.8
• Commission $7 per lot

PRO Pairs

• Market execution
• ECN STP trading model
• Up to 1:500 leverage
• Minimum 0.01 lots position size
• Maximum 1000 lots position size
• Forex, Indices, Commodities, Metals, Stocks, Cryptos
• Minimum $500 deposit
• Spreads from 0.4
• Commission $7 per lot

VAR Pairs

• Market execution
• ECN STP trading model
• Up to 1:500 leverage
• Minimum 0.01 lots position size
• Maximum 1000 lots position size
• Forex, Indices, Commodities, Metals, Stocks, Cryptos
• Minimum $250 deposit
• Spreads from 1.2
• Commission $0 per lot

Mini Pairs

• Market execution
• ECN STP trading model
• Up to 1:500 leverage
• Minimum 0.01 lots position size
• Maximum 1000 lots position size
• Forex
• Minimum $25 deposit
• Spreads from 1.0
• Commission $1 per lot

Demo Accounts

KOT4X do offer demo accounts if you would like to try your trading strategies with virtual funds and test out their brokerage service. You can open a demo account with an unlimited amount of funds and choose leverage of up to 1:500. I always like to test a broker on a demo account to begin with just to make sure they have suitable conditions for my trading strategies.

Account Signup

It is quick and easy to open an online trading account with KOT4X. There is a short form to complete on the brokers website after which you will need to verify your email address. Once verified you can submit documents for verification such as a passport or driver’s license for proof of identification and a utility bill or bank statement as proof of address. After the accounts team have verified your documents, you will be able to fund your account and commence trading online. I managed to complete the application and login to my account within minutes.

Support

You can get in touch with the KOT4X dedicated customer support team directly by completing the form on the brokers website or by sending them an email. They also have an online chat function that is automated and can provide answers to some general questions. I have always received excellent support from them and find them really quick to respond. They have always been available when I have had a question.

Funding

KOT4X accept bitcoin (BTC) for making deposits and withdrawals. Clients can send any amount instantly without any trouble or hassle of dealing with banks, then simply transfer from your wallet to any of your trading accounts and start trading online. You can withdraw from your account by requesting a withdrawal in your back office and KOT4X will process it for you within 48 hours. You can track your deposits and withdrawals on Blockchain.info. They are one of a select few brokers that currently support crypto funding, along with the likes of Hugos Way and Hankotrade.

The advantage of using bitcoin funding is that it makes it possible for buyers to complete their payments without divulging any sensitive financial information (like credit or debit card details) to the seller. Thus, they enjoy a certain degree of financial anonymity that some other payment options cannot. The broker has a handy guide that explains how to buy bitcoin using Coinbase for those who may not be familiar with how it works.

Whilst this may be useful for traders who are familiar with cryptocurrency, we would have preferred some additional funding options including online payment processors such as Skrill and PayPal. However, you can also make bitcoin deposits using your credit or debit Card, which is useful for those who may not be familiar with how bitcoin works. If you would prefer bank or card payments, FXChoice support these.

There are no deposit or withdrawal fees from the brokers side which is great. Just make sure you check the blockchain fee in advance. As we are still in the early days of cryptos, I often find the blockchain fee can be quite high. There was an instance when I wanted to make a deposit with Crypto Rocket but the blockchain fee was worth more than my deposit!

Conclusion

I am really impressed with many aspects of KOT4X. I like how they provide you with a simple online trading service that includes the well-known and user-friendly MetaTrader platform along with a generous selection of trading instruments. The brokers trading conditions are very competitive, including tight spreads and low commissions fees. There is also a variety of account types to suit different trading styles, bitcoin funding and prompt customer support from my experience. They may not be regulated but they can provide trading services, products and the convenience that a regulated broker may not be able to. I have been with them for a while now and never ran into any problems.

$10

KOT4X provide over 250 instruments for trading online with very competitive trading conditions, including 24/7 Crypto trading. They offer the user-friendly MetaTrader platform that is packed with robust trading tools. You can get access to a variety of account types, tight spreads, low fees and rapid trade execution speeds.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

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