In this KOT4X review, we’ll look at what you can expect from this Cryptocurrency mining company and an offshore broker. The company claims to be a legitimate broker and offers fast and easy trading. However, this company has some concerns, including the commission they charge for telephone trades.
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KOT4X is an offshore broker
One of the top features of KOT4X is that it only accepts Bitcoin as a form of payment. The company says this protects customer privacy because no financial institution is involved. Banks, by contrast, only deal with companies that are regulated. Furthermore, KOT4X does not have a license to operate.
KOT4X does not have a physical office, which may deter some traders. Instead, it offers customer support via email, live web chat, and a contact form on its website. There is no phone number or office address, typical of offshore brokers. However, it does accept the most common payment methods and has a dedicated customer service team. While this is not ideal, it is better than none at all.
A company operates the broker in Saint Vincent and the Grenadines, so the CFTC does not regulate it. As such, it is not recommended to open a forex account with KOT4X if you live in the United States. In addition, most experienced traders will not open an account with an offshore broker unless it is regulated.
KOT4X is a Cryptocurrency mining company
KOT4X is a Cryptocurrency mining company that claims to offer you the opportunity to earn big cryptocurrency profits. The truth is that this company is a scam, and you should avoid them at all costs. You can choose from three different account types, all of which require a small deposit. You can start by signing up for a standard account, which requires at least $50 to open. Beginner accounts, however, can start with as little as $250.
The company also offers cryptocurrency trading services, including bitcoin mining and CFD trading. While they are not regulated or licensed, they support their customers. They can be reached by email or phone.
KOT4X charges a commission for telephone trades
Customers of KOT4X are responsible for maintaining the confidentiality of their account number and password and are responsible for all brokerage transactions. If they change the information provided, they must notify KOT4X immediately. In addition, customers must not engage in arbitrage and are not allowed to use temporary inaccuracies in data.
KOT4X offers four different types of accounts. There is the Standard account, which carries a commission of $7 per lot; the Mini account, which has a fee of $1 per trade; and a VAR account, which has no fees. The website also mentions that it charges a commission for telephone trades.
The company that owns Kot4X does not have a physical address or phone number. The only contact information that is available to customers is an email address. The company is registered in St. Vincent and the Grenadines, a famous offshore zone used by many unregulated brokers. Since Kot4x is located in an offshore jurisdiction, it is not regulated by any government agency. Therefore, checking the broker’s credentials before using their services is essential.
KOT4X is an unregulated broker
There are a few things to remember when dealing with an unregulated broker such as this one. First, although it claims that it operates with complete transparency, it is not regulated by any financial regulatory authority. Because of this, your funds are not protected by law. Therefore, it is best to stick to regulated brokers.
Unlike many other brokers, KOT4X does not require a minimum deposit to open an account. The minimum deposit is $20 if you want to fund your account with bitcoin; otherwise, you can deposit any amount. Depending on your account type, the minimum amount may be as low as $25. You can also pay a flat commission of $7 per trade or go for the Pro account and get unlimited trades for $10. KOT4X also offers a commission-free var account and no fees on deposits or withdrawals. However, remember that third-party platforms may charge conversion fees if you make deposits in other currencies.
KOT4X is a scam
Sadly, some investors have lost money on KOT4X, but they are not the first to fall victim to the scheme. Many complaints have come from people who say they could not withdraw their deposits from KOT4X. Some have also complained about KOT4X taking the other side of their positions when they lose. For example, a client said they bought a Ferrari and Lambo from Anthony, who had lost money.
A lack of educational materials is another red flag. Although KOT4X offers a live chatbot and contact form, there are no videos or tutorials for new traders. Those new to the financial market should try to educate themselves before entering the trading arena. For beginners, it would be ideal if KOT4X could provide links to hundreds of articles on the web. This would also boost the community aspect of the platform.
