KOT4X Review 2020

KOT4X are an offshore and unregulated broker that provides traders with the MetaTrader platform for trading CFDs online. The broker does have a variety of trading instruments and account types but only accept bitcoin funding and do not offer any educational resources, additional tools or Islamic accounts.  The broker is also lacking in online chat support and have not provided a telephone number on their website. We also did not find the spreads to be the tightest in comparison to many other trading brokers that we have reviewed.

KOT4X Review 2020, Pros & Cons
  • MetaTrader 4 platform
  • Minimum $15 deposit
  • ECN STP broker model
  • Variety of account types
  • Range of trading instruments
  • Unregulated broker
  • Bitcoin funding only
  • Limited educational resources
  • No additional trading tools
  • No Islamic friendly accounts
  • No online chat or telephone support

In this detailed KOT4X review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

KOT4X is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including KOT4X.

KOT4X Review: 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.

KOT4X operate 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.

KOT4X Review: Broker Features

KOT4X Review: Broker Features

Every trade is placed in the KOT4X aggregator which can give 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.

The broker has competitive spreads and commissions but not the lowest we have seen when compared to other online brokers.

KOT4X Review: Regulation

KOT4X are an offshore broker located in St. Vincent and the Grenadines, they are currently not regulated by any regulatory authority. Most experts and professional would not open an account with an unregulated broker as they cannot offer the same protection that a regulated broker can.

Despite this, KOT4X state that they operate with the upmost transparency and put great emphasis on security of client funds and personal data. You may refer to our trading broker reviews for alternative regulated brokerages.

KOT4X Review: Countries

As they are located offshore and not regulated, KOT4X do not mention any countries where they cannot accept clients from. Some KOT4X broker features and products mentioned within this KOT4X review may not be available to traders from specific countries due to legal restrictions.

KOT4X Review: Trading Platforms

MetaTrader 4

KOT4X provide users 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.

KOT4X Review: MetaTrader 4 Platforms

KOT4X Review: 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.

MT4 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 whereas the MT4 mobile app is useful for those who need to access their account and trade whilst on the go.

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

KOT4X Review: Trading Tools

KOT4X do 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 the average retail trader.

KOT4X Review: 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.

KOT4X Review: Trading Instruments

KOT4X have a reasonable selection of 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.

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 should have a clear understanding of CFDs, how they work and the significant risks involved with online trading.

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

KOT4X Review: Trading Accounts & Fees

KOT4X offer 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.

KOT4X Review: Broker Account Types

KOT4X Review: Broker Account Types

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.

KOT4X Review: Demo Account Sign Up

KOT4X Review: Demo Account Sign Up

They also offer demo trading accounts but disappointingly do not have any Islamic trading accounts that comply with Sharia law to support Muslim traders.

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.

KOT4X Review: Customer Service

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 on email. They do have an online chat function but this is automated and whilst it can provide answers to some general questions, it would have been more beneficial if there was a human readily available to offer support.

Furthermore, we would have preferred KOT4X to provide a contact telephone number. It is important to consider the delayed response time without telephone or online chat support and how this could be detrimental in the case of an emergency.

KOT4X Review: Deposit & Withdrawal

KOT4X only 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.

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. KOT4X have a 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 believe it significantly limits the brokers potential client base. We would have preferred some additional funding options including wire transfer, credit/debit cards and online payment processors such as Skrill and PayPal.

There are no deposit or withdrawal fees from the brokers side. As broker fees can vary and change, there may be additional fees that are not listed in this KOT4X review. It is imperative to ensure that you check and understand all of the latest information before you open a KOT4X broker account for online trading.

KOT4X Review: Account Opening

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 drivers 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.

KOT4X Review: Broker Sign Up

KOT4X Review: Broker Sign Up

KOT4X Review: Conclusion

KOT4X has a basic online trading service that includes the well-known MetaTrader platform and a decent selection of trading instruments. The trading conditions are competitive whilst there is a variety of account types to suit different trading styles.

However, the broker is lacking in educational materials, market analysis and trading tools. The only funding option is bitcoin and they do not cater for Islamic accounts. Furthermore, the lack of regulation is a concern for the trading brokers team and for that reason alone we would consider another online broker.

Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.

Min $15 Deposit

KOT4X are an unregulated broker with a decent selection of CFDs for trading online through the MT4 platform. They have a variety of account types but only accept bitcoin funding & do not offer any educational resources, additional tools or Islamic accounts.