Overview of KOT4X Review
KOT4X claims to be the king of transparency apart from being people’s favorite around the world. This brokerage firm offers online trade-in 250+ instruments that include forex, cryptocurrency, stocks, and commodities. The company specifically states that it provides cryptocurrency trading 24/7. Upon receiving numerous complaints about this scam broker, we decided to investigate the KOT4X broker. Read on to find out more about the KOT4X scam.
After thorough research about the company, we stumbled upon a lot of alarming red flags. In this broker scam review, we will be going through each one of the red flags in detail so that you can steer clear of the KOT4X scam.
Although the company claims to be a favorite among the traders, there is no mention of a license or registration on their home page. After reading through all of their terms and conditions, we came to know that KOT4X is registered in a place called St. Vincent and the Grenadines. Now for those of you who do not know or are new to the finance market, places such as St. Vincent and the Grenadines are a part of the offshore places. Now the offshore zones are those which do not have a regulatory authority to safeguard their citizens from a possible scam trap by these scam brokers. Registering a scam company in such offshore places is comparatively easy and hence, one must not invest with the companies that are registered in the offshore zones.
KOT4X Account Types:
Upon looking into the different types of accounts that KOT4X offers, we came to know that the company offers a demo account as well. Now it is very unusual for a scam broker to provide a demo account, therefore, we proceeded to try it out. Upon registering for the demo account, we encountered some problems or the other every time we tried to sign in. From this, it is pretty clear that KOT4X is a complete scam. The company offers three types of accounts to their traders, namely, Standard ECN, ECN/Pro, and Gold/VAR. the leverage offered in all three accounts is 1:500. Now, one must note that leverage plays a very important role in the probability of the trader winning or losing the trade. If the leverage is very high, the risk that the customer has to take increases, this, in turn, increases the chance of the trader securing a loss and losing all of their hard-earned money. Therefore, high leverage is not allowed by any of the regulators and is mostly used by scam brokers to get more money from their innocent victims
Is KOT4X scam or legit?
To sum up, all that has been said above, we can safely say that KOT4X is a complete scam. This company has successfully trapped a lot of people in their broker scam and has saved themselves by fleeing. We advise our readers to stay away from the KOT4X broker scam and always invest in companies that have a legitimate license from the regulators. Many traders have given their comments which says- “Kot4x scammed me”. If you have been a victim of any such broker scams, file a complaint with us for fund Recovery. Our team of experts will take a look at your complaint and provide you with the best possible solution to retrieve your funds.
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