KOT4X is a forex broker registered in Saint Vincent and the Grenadines in 2018, mainly providing investors with foreign exchange, metals, energy, stocks, indices trading services, the company's official website only supports English as the language of use. In addition, the account registration page of KOT4X's official website is only available in English.
Company background:
According to KOT4X's website, the company and its affiliates, KOT4X Pty Ltd, are incorporated in Saint Vincent and the Grenadines and Australia respectively. A search on the websites of the St Vincent and the Grenadines Financial Services Authority (SVGFSA) and the Australian Securities and Investments Commission (ASIC) shows that the information that the company and its associates are incorporated in St Vincent and the Grenadines and Australia is true. In addition, the domain name registration information of the website queried by Whois shows that the company's official website domain name was registered on October 4, 2018, and the domain name registration time has been more than 5 years ago.
Account Registration:
KOT4X official website information shows that the company provides investors with real account, demo account registration links. The registration method of real account is: click "SIGN UP" in the upper right corner of KOT4X official website, "Corporate Sign Up" under the home page of KOT4X official website to enter the registration page, select or fill in the name, Email, password and other information as required, and verify the Email to complete the registration of real account. The registration method of Demo Account is: click "Demo Account" below the homepage of KOT4X official website to enter the registration page, select or fill in the name, password, trading software, account currency, margin (leverage) ratio, demo account amount and other information to complete the registration of the demo account account. In addition, the account registration page of KOT4X's official website is only available in English.
Account Type:
KOT4X official website information shows that the company provides investors with Standard Pairs, PRO Pairs, VAR Pairs, MINI Pairs four different types of trading accounts. In addition, KOT4X also provides the differences between these four accounts in terms of spreads, trading products, commissions, minimum deposit amount, and the number of trades in Forex, metals, energy, stocks, and indices.
Trading Products:
KOT4X official website information shows that the company provides investors with foreign exchange, metals, energy, stocks, indices trading services. In addition, although KOT4X official website provides specific trading products covered by foreign exchange, metals, energy, stocks, and indexes, KOT4X official website does not provide information on commissions, spreads, minimum trading units, maximum trading units, and overnight interest for specific trading products.
Margin ratio:
KOT4X not only shows on the homepage of the official website that it offers a margin (leverage) ratio of 1:500, but also provides the maximum margin (leverage) ratio that different accounts can achieve in the "Account type". However, the KOT4X official website does not provide margin (leverage) ratio information for specific trading products covered by foreign exchange, crude oil and precious metals under different account types.
Trading Hours:
KOT4X does not provide information on the trading hours of specific trading products covered by Forex, metals, energy, stocks, and indexes.
Deposits and Withdrawals:
Although KOT4X provides an explanation of some deposit and withdrawal problems in the FAQ on the official website, KOT4X does not clearly provide the deposit and withdrawal channels and methods it supports, nor does it provide information about the deposit and withdrawal currencies it supports, as well as the deposit and withdrawal fees and time.
Trading Software:
KOT4X provides investors with MetaTrade4 (MT4) trading software, and Spring Gold Market Limited provides MT4 software for computers (Winodws/MacOS) and mobile phones (IOS/Android). However, the Android version of MT4 software in some countries or regions, there are problems that can not be downloaded or downloaded installation speed is slow.
Other services:
KOT4X provides investors with PAMM account management services, which allow investors to trade on behalf of other PAMM investors by depositing funds into a pool of funds.
Regulatory information:
KOT4X website information shows that its affiliate, KOT4X Pty Ltd, is regulated or authorised by the Australian Securities and Investments Commission (ASIC). A search on the Australian Securities and Investments Commission (ASIC) website shows that KOT4X Pty Ltd holds an Authorised Representative licence (AR licence) with the Australian Securities and Investments Commission (ASIC) for MGF CAPITAL PTY LTD (421246). Regulatory and investor protection for such licences is weak. More importantly, MGF CAPITAL PTY LTD sold Authorized representative licenses (AR licenses) to more than 30 similar companies such as KOT4X Pty Ltd. Companies such as KOT4X Pty Ltd have no relationship with MGF CAPITAL PTY LTD, and these companies are only using the Authorized representative licence (AR licence) purchased from MGF CAPITAL PTY LTD to promote.
Summary:
KOT4X is suspected of fraud. Although a query on the websites of the Vincent and Grenadines Financial Services Authority (SVGFSA) and the Australian Securities and Investments Commission (ASIC) shows that the information that the company and its associated business, KOT4X Pty Ltd, are incorporated in St Vincent and the Grenadines and Australia is true. However, a search on the Australian Securities and Investments Commission (ASIC) website shows that KOT4X Pty Ltd, an associate of the company, holds an Authorised Representative licence (AR licence) with the Australian Securities and Investments Commission (ASIC) for MGF CAPITAL PTY LTD (421246). Regulatory and investor protection for such licences is weak.
More importantly, MGF CAPITAL PTY LTD sold Authorized representative licenses (AR licenses) to more than 30 similar companies such as KOT4X Pty Ltd. Companies such as KOT4X Pty Ltd have no relationship with MGF CAPITAL PTY LTD, and these companies are only using the Authorized representative licence (AR licence) purchased from MGF CAPITAL PTY LTD to promote. Judging from this, KOT4X is suspected of fraud, and investors should be careful to choose the services provided by the company. Trading circle encyclopedia reminds you, please pay attention to your property safety, to avoid falling into the fraud trap.
