All You Get at KOT4X is Fake Promises and Scams

Is your forex trading experience at KOT4X filled with trade losses, deposit lure, withdrawal denials, and account blowups due to injudicious use of margin? We empathize with you and many other traders who face these issues with this scam forex broker. Some of you got so disappointed that you rightfully criticized the broker on several review platforms. In this article, we have shared such painful experiences. Take a look!

Top Foul Play Committed by KOT4X

Fake Promises, Zero Delivery

KOT4X promises so much about the impeccable service it has for traders. However, that does not turn out in real time. It is alleged to have fooled traders into depositing before scamming them. Here is one screenshot where a trader has made such a claim. Besides, there is one trader who admitted to having lost everything. However, the recovery happened eventually.

Deposit Lure, Withdrawal Blocks for Traders

Traders are usually lured into depositing funds by KOT4X executives who use fake means to convince them. However, all these are a well-thought-out strategy to deceive traders by blocking their withdrawals. The screenshot below conveys this problem.

Account Blowup Issue Due to Inappropriate Margin Usage

Trade manipulation, which runs deep at KOT4X, often makes investors suffer losses. However, not owning their mistakes and rather blaming traders has become so normal here. A trader, whose screenshot is placed below, has admitted that the account was wiped out in no time due to the wrong margin calculation.

Siphoning Funds by Giving an Excuse of Wrong Chart

Now, this is a massive allegation and not called for! A trader complained that he was allegedly defrauded for around $7,500 by KOT4X last year. The company gave an excuse of a wrong chart in defence. The trader had to bear further losses a year later because of the same wrong chart excuse. Here are the words of the trader.

Why Do Traders Have to Deal with These Grave Issues?

The problem lies in the lack of transparency that is expected from an unregulated broker such as KOT4X. The Saint Vincent and the Grenadines-based forex broker has failed to gain a forex broker license despite being in this landscape for more than five years. Imagine the numerous traders who would have been duped by it during this period. As a result, the WikiFX team could not give KOT4X any more than 1.56 out of 10. Time for this broker to improve its operations.

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