KOT4X (Kot4x.com) is a bullish CFDs and Forex broker scam that must be exposed. This broker has swindled from hundreds of investors who signed up. King of transparency is what they claim to be on their homepage. Reviews are meant to open and be honest in every detail. KOT4X brokerage is nothing but a dreadful scam investors must know about. Read this detailed and transparent review and get the truth.
KOT4X creators have done a good job of coming up with a website that is eye catching and user friendly. Folks, once you take a peek at their homepage, one easily believes what they are selling. Here, we have experience with Forex trading and it’s our duty to expose dirty tricks used by scammers. Read the entire review and find out what our investigation revealed about KOT 4X. This will without a doubt be mind juggling expose.
Promises are what makes scams work and KOT4X does not disappoint when it comes to giving them. Whoever signs up with this broker is promised heaven and a ton of money. Fraudsters know for a fact that we all want to make a quick buck or two. What they do is come up with a claim of helping members solve this problem. Anyone who invests will be enticed with promises of making quick cash.
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Every time investors are about to sign up with a broker, always ask questions. Who owns the brokerage firm is a good place to start. With KOT4X, we are dealing with an anonymous brokerage firm. There’s no way of showing who actually owns this brokerage firm. All legit brokerage firms always reveal their true identity especially where they reside. KOT4X apparently hides this from us.
Real reason why this brokerage firm is hiding this crucial detail is because they are a scam. Only scam artists create a brokerage firm with no known address. This is done so that they can avoid detection from regulation authorities. Anonymity is a key ingredient in ensuring the success of scam sites such as KOT 4X. This is one of the many reasons why we are against investors signing up with KOT 4X.
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Fact of the matter is this, there’s no proof to validate their licensing or regulation. There’s no regulation body that has come up to back this broker. This is clear proof that we are dealing with an unlicensed entity. Proof of regulation would have been enough for us to believe this broker. Sadly, there’s no regulatory institution that has come forward to claim registration of this broker. Stay away from this broker to avoid any distress.
There’s nowhere on the footer of the homepage does it show registration number. Most legitimate brokers always show their registration number at the bottom of their homepage.
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KOT4X offers users three different account types that members can choose from. These accounts are Standard, Pro, and VAR. Standard account members are required to make a minimum deposit of $50. This is another red flag that we noted with this broker. How can they be asking for an amount that is way below the accepted industry requirement? $250 is the acceptable minimum requirement for all beginner accounts.
Pro account holders are required to make a minimum required deposit of $500. Problem we found with this account is simple, there’s no difference. There’s no notable difference between the standard and Pro accounts. Why would anyone sign up with a bigger sum and have no trading advantage? A broker who does not offer different perks is no real broker. This is proof we are dealing with a sham.
Another red flag that we must point out is the many fake claims on offer. KOT4X offers so many fake claims that we feel are hideous. Some of these claims include tight spreads and lightning fast execution. If this was really the truth, there wouldn’t be many bad reviews floating all over the web. These claims are simply a sales gimmick to make as many users to sign up with this fake broker.
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Certainly not! Your funds are not safe with an unlicensed and unregulated broker. There’s no way that funds can ever be safe with a broker who is not recognized. Problem with this broker is that they don’t follow strict rules and regulations. These rules include having to segregate member funds. Sadly, members could be depositing money straight to the owner’s personal bank account. There’s simply no way to prove otherwise.
What about funds being secure? KOT 4X does not in any way insure or protect member funds. If they did so, there wouldn’t be negative chatter regarding this brokerage firm. A real broker insures member funds in case of unforeseen losses. Here, no member has been compensated due to any losses incurred. This has made us to believe that this broker is nothing but a shady broker out to get your money.
As we were conducting the investigation, we found no live chat support. This brokerage firm does not even use bots. With this day and age, one would expect the least thing a broker has is a bot service. KOT4X does not offer any live chat which makes us question their intentions. Why are they hiding themselves from questions?
What happens if a member wants to ask a question that needs a quick answer? A member will have to wait for an eternity to get a response. What this broker offers is an email alternative which to be honest, takes time to respond. They are simply trying their best to remain anonymous. As we earlier said, anonymity is a recipe for scam brokers.
Evidence clearly shows that we are dealing with another Forex scam broker. KOT4X is another Forex scam to hit the lucrative Forex industry. All what investors need to do is ignore all their incoming promotional emails. These fraudsters have an aggressive email marketing team. Mark all their emails as Spam and never click on any links sent.
Concrete evidence in our hands clearly shows that we are dealing with a rogue brokerage firm. Option that’s left for us is to blacklist KOT4X for the scam they really are. From having fake claims to unrealistic promises, this is purely a scam. How can they claim to offer 24\7 trading experience?
Now you know better than to sign up with this broker who will simply run away with your money. With all the evidence produced, relevant authorities should investigate this brokerage firm. Always stay safe when trading Forex and use recommended and Trusted Forex brokers all the time.
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Wish you all the best in your CFDs and Forex trading experience.
Ajude-nos a combater fraudes. Faça uma doação para apoiar nosso trabalho. Nenhuma quantidade é muito pequena ou muito grande. Obrigado..
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