KOT4X : A broker that you need to stay away from

What KOT4X is

According to its claims, KOT4X is an online Crypto, Forex and CFD Broker that provides traders across the globe with technology to truly master the financial markets. It provides a secure ECN trading environment that permits traders to trade exclusively online. However, according to WikiFX , KOT4X has been given by WikiFX a very low rating of 1.39/10. WikiFX verifies that this broker recently has no valid regulatory status. And many complaints related to this broker have been discovered. The biggest problem that this broker has according to WikiFX is lacking a legitimate license. It has not been regulated by any regulatory institutions. On its website, KOT4X admits that they are not regulated recently, but they are in the process of applying for a legitimate license.As long as they are not regulated, your money is risky under their management. Therefore, we suggest that it is your best option to stay away from this broker.

Bitcoin Scams

Bitcoin scams are often seen in today‘s financial market. There are more and more scammers manipulating victims’ accounts since the pandemic has started. According to their website, KOT4X is likely to ask you to buy bitcoin through coinbase. And eventually, they will ask you to deposit your money into their KOT4X wallet. Once your funds are in their wallet, your money is no longer under your control.

Unable to withdraw money

KOT4X has also been discovered to have a bad track record of making up fraud promises of returns. How are you supposed to get the returns when you can not even withdraw your principal？ Like many other offshore brokers, KOT4X will not let you withdraw your hard-earned money from them once you invest. Regardless of whether you made a profit or decided to not trade at all, you will be asked to submit many documents while they barely approve these documents. As a result, it is a high possibility that you will loss your money without any response from KOT4X . Since they are unregulated, it is hard to find a way to hold them accountable.

Conclusion

All in all, KOT4X is not the best broker to invest with as it may take your money away fraudulently. We dont advise you to trade with them since you do not want to lose everything to the last penny. But, how can you deal with other brokers that you are not fully familiar with in the future？

Dont worry, WikiFX contains details of more than 31000 global forex brokers, which gives you a huge advantage while seeking the best forex brokers. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en) to check out more information by yourself. The most common way to use WikiFX is to type the name of a certain broker in the search box, WikiFX will give you all information about this broker in a few seconds. Besides, WikiFX App offers you the easiest way to find the best forex brokers. You can download WikiFX App to your mobile devices in a very short time . WikiFX App supports both the Android system and IOS system and it is completely free to download.