KOT4X Forex prop firm review – An unregulated broker with funded challenge accounts

KOT4X prop firm is really an unregulated Forex and CFDs broker that also offers funded account challenges as a way to attract new customers to its MT4 platform. The broker was established in 2019 which makes it relatively young broker, but not as young not to achieve any regulatory license for these years. As a result, we do not call it KOT4X prop trading firm in this review, but rather as the broker that also offers funded accounts.

In our KOT4X review of funded accounts we are going to g othroug hall the crucial aspects of the funded accounts started with the safety of the firm and continuingwith fees, accounts, rules, and many more. So, make sure to read our unbiased review till end.

Pros & cons of KOT4X prop firm

Pros

• Ability to withdraw with $0 fees
• Offers access to MetaTrader 4
• Fast and digital account opening/verification
• Offers access to diverse trading assets such as FX pairs, cryptos, stocks, indices, and commodities
• Accepts Bitcoin deposits and withdrawals which is fast

Cons

• Unregulated broker with funded accounts
• Minimum funded amount starts from 50,000 USD at 250 USD fee
• Has 1.41 score on the FPA which makes it very risky

KOT4X Quick Overview

Safety of KOT4X – 1.5

KOT4X reviews on the FPA platform are not good for sure. The overall score is 1.41 and majority of traders mention terrible slippages and spreads when they open positions. The broker seems to let traders deposit and withdraw funds without any issues, but actual trading experience is horrible. Another way we evaluate the prop firms safety is to see if they are offering trading on funded accounts through regulated brokers. In the case of KOT4X, the firm is also a broker but is not regulated. With its headquarters in offshore we highly recommend to stay away from this broker as risks are too high to test with real money. As for the experience, the firm has been around since 2019 giving it several years of experience.

The firm gets a 1.5 score in this section for having mild experience and allowing withdrawals without issues.

KOT4X Funding and maximum capital allocation – 2

KOT4X funding consists of three funded amounts and each of them have same limitations and policies. Traders can get 50,000, 100,000, and 200,000 USD funded accounts after completion of 3-phase evaluation process. We think 3 phases are too much and unnecessary process to evaluate trader’s performance objectively.

KOT4X funded program let’s traders get high amounts of funding, but fees and rules are also restrictive.

To complete KOT4X challenge successfully, traders have to go through the minimum 90 days of evaluation process which makes it one of the most lengthy process we have seen in the industry.

KOT4X scaling plan is active, but lacks exat details on the website. We assume it is similar to other pro pfirms with account balance doubling after every 10% profit target hit.

For lacking the diversity of funded options we give the firm a 2 score in this section.

KOT4X Assets – 4.5

Since the KOT4X is also a broker, it has wide range of tradable assets in a form of CFDs (Contracts For Difference). Traders can select between Forex pairs, stocks, cryptos, indices, and commodities. As wecan see, the asset classes are diverse and super competitive when compared to other prop firms.

Since the broker offers diverse trading assets we give it a 4.5 score. 0.5 points were deducted for lacking any other asets including futures and bonds.

KOT4XTrading rules and limitations – 2

KOT4X rules are similar to popular prop firms with some differences. These rules are exactly the same for al three funded options of 50k, 100k, and 200k accounts.

Let’s explore important rules in more detail:

• Profit target – 10% for phase 1, 5% for phase 2
• Maximum leverage – 1:100
• Maximum daily drawdown – 5%
• Maximum overall drawdown – 10%
• Minimum trading days – 6

So, it is a must to open at least one trading position each day for 6 days to complete the challenge. The profit target is very achievable for the second phase and allows traders to decrease risks which is very reasonable approach. All the rules including maximum daily and overall drawodowns are withi nthe industry accepted averages making the broker competitive on the rules side.

However, since there are serious risks involved in the firm’s safety we can not recommend them to our readers. Especially the fees and funded accounts lack diversity and are expensive.

As a result, we give the firm a 2 score in this section.

KOT4X Fees – 1.5

Continuing our review of the broker, the fees for funded challenges are not expensive, but since minimum funded option is limited to 50k the 350 USD seems expensive.

The exact list for funded amounts and fees are as follows:

50,000 USD – 350 USD

100,000 USD – 600 USD

200,000 USD – 1000 USD

These fees are not expensive and are closer to industry standards. The 600 USD one-time refundable fee for 100k is a great offering indeed.

KOT4X free trial is not available at the moment and all funded accounts require one-time fees to get started. In case the trader brakes the rules there is no KOT4X free repeat, so they will have to start over and pay the price again.

There are commissions for trading volumes which are around 7 USD per lot round turn together with spreads from 1 pip. This is probably the worst conditions for FX trading as broker usually charge commissions only for 0 pips spread accounts. We do not recommend KOT4X for trading let alone funded challenge.

We give the firm a 1.5 points as it lacks 0 pips spreads, has higher initial fee above 150 USD, andlacks any promotions for funded challenges.

KOT4X Platforms – 5

KOT4X MetTrader 4 comes with full functionality and is available for all devices including Desktop and Mobile. This is helpful as many traders are operating from mobile phones and both iOS and Android apps are available for download. For web trading tehre is a MT4 web trader also available.

Without a doubt the firm offers fully functional MT4 and we give it a 5 score in this section.

KOT4X Profit-Sharing – 3

KOT4X profit split is well within the industry standards. The profit share percentage is 80% for all funding options including the scaled accounts. The broker loses few points for not offering a higher profit split of 90%, but 80% is sufficient for making a living potentially.

As for the deposits and withdrawas, there is only a crypto option available and broker accepts Bitcoins as a payment option. Usually BTC transaction take from minutes to several hours, meaning both the deposits and withdrawals can be processed under 24 hours.

As a result, we give the firm a 3 score for lacking the 90% profit share option.

Education and trading tools at KOT4X – 1.3

When it comes to education, there are no materials to start from the beginner’s phase. The broker does not offer any training courses or video tutorials o nthe trading concepts, but has multitude of trading tools and performance tracking apps.

From the funded trader’s eprsepctive the broker offers a dashboard and apps to track and assess performance. The broker lacks mobile apps for tracking trader’s performance which is a downside together wit the lack of educational resources. To use all these tools it is necessary to log in to the dashboard.

Overall, we evaluate this section with a 1.3 score.

Customer Support at KOT4X – 2.4

There is a live chat that offers builtin automated virtual assistant. It has a menu to navigate and find the answers and information on various topics. The funded challenge has its dedicated support live chat that offers direct connectio nwit the customer representatives. The support also include email and call back options and is available 24/7. Unfortunately, both support and website are only in English language. Although the broker offers a call back option it is not possible to use hotline to contact with the support.

As a result, we give the broker a 2.4 score in the support section.

Frequently Asked Questions