KOT4X is an offshore Forex broker, that opened in October 2018. They primarily work with new investors, who are part of the IM Academy. Recently they join the “Funded Trader” trend, and are offering that as an option to unsuspecting clients.
They continue to advertise in the USA, circumventing Google Ads rules of not advertising unregulated Forex trading in America.
If you are currently investing with KOT4X brokers, please share your experience in the comments section below. For complaints and withdrawal problems, read this.
KOT4X Brokers Review
Day Traders and Investors at KOT4X are given the popular Forex trading app known as MT4 or MetaTrader 4. At the broker KOT4X, you will find that they offer the TradeLocker trading app, a web-based trading app, along with mobile trading apps for Android & iOS devices. You will be able to create multiple demo accounts to test out their trading platforms and your trading strategies.
They offer a total of 211 assets for trading CFD’s including; Forex / Currency pairs, Commodities (oil, gold & silver), Indices and Stocks. Maximum leverage rate / margin rate offered is 500:1. Commission rates are from $1 – $7 per lot. Minimum deposit requirement for a new trading account is only $25.
Before beginning your quest to become a millionaire trading Forex, you should first read the article: “The Difference Between Regulated & Offshore Brokers“.
Deposits & Withdrawals
Depositing to this broker is done via Bitcoin Only. Basically, when using a credit card, you are buying Bitcoins, which you will then transfer to their Bitcoin wallet. It is important to know, that Bitcoin transactions are not covered by your credit cards fraud protection.
According to their terms and conditions page;
The customer also hereby confirms that these funds are free of any liens or debts, are clean and non-criminal in origin and do not originate from the United States of America or any country on the Office of Foreign Assets Control (OFAC) List.
This means, that Americas should NOT deposit money at this broker. It is interesting that on the forums, we hear about Americans trading with this brokerage firm.
Did you try a licensed broker? Look here!
Is KOT4X a Legit Broker?
No, KOT4X is not a licensed or regulated broker. Forex brokers in the United States must be licensed and regulated by the CFTC, otherwise your cash is not protected.
Officially they are owned and operated by Kot Ltd, Company Number 25045 BC 2018, Suite 305, Griffith Corporate Centre, Beachmont, Kingston, St Vincent and the Grenadines. To add to the confusion, they claim their main place of business is at; 10 Holborn Rd, Unit 7, Kingston, Jamaica.
KOT4X Ltd, and located on the Caribbean island of Saint Vincent and the Grenadines. There is no street address or listed phone number for them, however the customer support email is: [email protected]. Official website is: https://kot4x.com/. For complaints and issues with withdrawing your money, read this.
Today you will find many multi level marketing scams online, and most people end up losing their money.
The way you know a Crypto / Forex broker is not a scam, is by checking their website for a license. When you see that they hold a valid license from your governments financial regulator, you can be sure that they are a legitimate broker.
There are so many Forex brokers to compare and choose from online, just look here.