KOT4X is an unregulated forex broker that offers 4 account types, ECN/STP trading, and the MT4 forex trading platform. This KOT4X review looks at the key features this broker offers and if you should consider this unregulated broker.To get more news about lcmfx, you can visit wikifx.com official website.
The Kings of Transparency (KOT4X) is an online forex broker that specializes in helping you trade Contracts For Differences (CFD's) such as Forex, crypto, stocks, and commodities. KOT4X has some good features such as low minimum deposits, decent commissions, the popular MetaTrader 4 (MT4) platform, and a choice of 4 different account types. However, also has some concerning weaknesses such as lack of regulation, sub-par customer service, confusing account withdrawal and deposit when it comes to bitcoin.
KOT4X uses a live MT4 account and offers 4 types of trading accounts, these are PRO Pairs, VAR Pairs, Standard Pairs, and Mini Pairs. These account types mostly differ through their commission structure and spreads, meaning each is ideal for a different type of trader.
Below, we look at the similarities and differences between each account type. We found the accounts available with KOT4x quite strange. We cannot understand why you would choose either the Standard Pairs or Mini Pairs accounts over the Pro Pairs. It appears only the VAR account presents a genuine alternative.
This account restricts your lot trading size to micro-lots (1000). Other trading accounts allow trading lots for micro, mini, and standard lots ( 1000 to 100,000).
Micro-lot is the smallest tradeable lot that most forex brokers will offer. Mini Pairs account is therefore an option if you are new to trading and want to keep your risk to a minimum while you practice trading. As the lot size is smaller, the capital you will need to open a position is lower.
In terms of costs, it does appear that spreads are in line with the Pro Pairs trading account. While the commission is only $1.00, the typical spreads start from 1.0 pips (1 pip = $10.00). This means you will pay $11 to open your position. This is the same as the Pro Pairs account, which has a $7.00 commission and spreads starting from 0.4 pips (0.4 pips = $4.00).
When choosing this account, beware that the main limitation is that you can only choose 29 forex pairs. This is different from the other KOT4x accounts which allow a choice of 55 forex pairs, stocks, commodities and cryptocurrencies.
Given you can easily reduce the lot size you trade with when using the Pro Pairs account and it offers more products to trade with, there doesn't appear to be a good reason to choose this account.
Not to be confused with what other brokers call Standard accounts (which have no commissions), the KOT4x Standard Pairs account is a commission account with a $7.00 commission for each standard lot you trade when you open and close your position.
This account has the same conditions as the Pro Pairs accounts except that spreads spread are slightly wider. We are supposed to be experts but we don't actually know why you would choose a more expensive account over an identical cheaper account. We asked the KOT4x live chat and their response was quite comical and we discuss this conversation in our customer service section. We question the whole point of offering this account.
| By | buzai232 |
| Added | Apr 25 '22, 09:46PM |
The Wall