Forex traders always wish to trade with brokers that suit their trading styles and preferences. Oanda and KOT4X are forex and CFD brokers offering online trading services globally. Oanda is a top-regulated forex broker. It is regulated by 9 regulatory bodies including CFTC, NFA, FCA, PFSA, MAS, IIROC, ASIC, FSA in Japan, and FSC in the BVI. On the other hand, On the other hand, KOT4X is an offshore forex broker that is not regulated by any regulatory bodies. Though they offer similar products and services, each broker has its strengths and weaknesses.
In this article, we will compare Oanda with KOT4X regarding trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. This comparison lets you understand which broker is better for your trading style and preferences.
Oanda vs KOT4X: In a Nutshell
Oanda
Founded by Drs. Stumm and Olsen in the USA in 1996, Oanda is one of the oldest and most experienced forex brokers in the world. The broker expanded into Asia in 2007, opened its London office in 2011, and its Sydney office in 2014. On its platforms, you can trade over 3000 forex, CFDs, and even real stocks.
Risk warning: 71% of retail investor accounts lose money.
Oanda Overview
- Founded In: 1996
- Founder: Dr. Stumm (a computer scientist), and Dr. Olsen (an economist)
- Headquarters: New York, United States
- Trading Instruments: 100+ trading Instruments including forex, indices, shares, commodities, metals, cryptocurrencies, metals
- Minimum Deposit: No minimum Deposit is required. You may deposit as low as $1
- Maximum Leverage: 1:50 (US), 1:30 (EU), 1:200 (other regions)
- Regulations: ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, FSC in BVI
- Trading platform: MT4, MT5, fxTrade app, Tradingview
- Account Types: Standard, Elitetrader
- Trading Fees: Spreads starting from 0.6 pips (EUR/USD pair)
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, ACH Payments (echeck), BPAY, CHAPS, Check, DBS Bill Payment, Local Bank Deposits, Local Bank Transfers, Neteller, Payment Asia, PayNow, PayPal, SEPA Credit Transfer (SCT), Skrill
- US Traders: Accepted
KOT4X
KOT4X started operations in 2019. The broker allows clients from anywhere to choose an account type, and gain access to trade 250 forex/CFDs on its MT4 platforms. Generally, its spreads and commissions are competitive. Multiple crypto deposits are accepted while the broker charges no extra fees.
KOT4X Overview
- Founded In: 2019
- Trading Instruments: Around 200 trading instruments, including 55 currencies, 104 stocks, 31 cryptocurrencies, and 8 indices
- Minimum Deposit: $10 for BTC deposit, $25 to $50 for Debit/Credit card via Instacoins.
- Maximum Leverage: 1:500
- Regulations: None
- Min Lot size: 0.01
- Max Lot Size: 500 lot per ticket
- Trading platform: TradeLocker
- Trading Styles: Allows all trading Styles including scalping, News Trading, CFD trading, EA trading,
- Account Types: Standard Pairs, Pro Pairs, Var Pairs, Mini Pairs
- Payment Options: Bitcoin, Instacoins.
- US Traders: Accepted
Oanda vs KOT4X: Pros and Cons
Oanda Pros & Cons
- Regulated by the CySEC, FCA, CFTC, JFSA, IIROC, ASIC, MAS and FSC BVI
- Clients can trade over 1800 forex/CFDs and over 2000 real stocks.
- Platforms: MT4, MT5, and Oanda mobile apps on iOS and Android.
- Trading tools provided are MetaTrader premium tools, Autochartist, Market pulse analysis, etc.
- Customer support is provided in multiple languages and via different channels.
- Fast and user-friendly account opening
- The TradingView platform is available, alongside several VPS services for MT4 hosting.
- Bank withdrawals incur a fee which is transferred to the trader.
- Premium core accounts require a minimum balance of $20,000
- Inactivity fees are charged from dormant accounts.
- No account protection for U.S. clients
- No guaranteed stop-losses for U.S. or U.K. clients
- Traders in the U.S. cannot access single-stock CFDs
- No cent accounts, bonus programme for beginner traders
KOT4X Pros & Cons
- Regulated by multiple top tire regulators like NFA, FCA, ASIC, FSA, AMF, FMA, MAS, DFSA
- Allows scalping, EA/ Robot Trading, News Trading
- Offers web trading, mobile trading and ECN Trading
- IG's acquisition of tastytrade for $1 billion brought options trading and listed-derivatives (such as futures) trading to clients in the United States
- 16,000 trading instruments, investments in IPOs and exchange-traded funds;
- Quality choice of trading platforms, including MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
- Relatively good spreads, from 0.6-1 pips depending on the type of instrument;
- Offers passive investment programme ( MAM, PAMM accounts)
- Relatively high Minimum deposit ( Min Deposit $250)
- Conservative leverage in some areas ( The max leverage is 1:200)
- IG charges $/£12/€14 per month after 24 months of inactivity
- Limited product range on MT4
- High Stock CFD fees
Oanda vs Kot4x: Side-by-Side Comparison
Oanda Vs Kot4x: Our Scores and Ratings
We rated both brokers, Oanda and Kot4x, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.
Oanda :
Kot4x
Final Verdict:
Both Oanda and KOT4X offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. Here are the features and services of both brokers. By reviewing these options, you can clearly understand which broker is right for your trading goals
Oanda :
- Top regulated forex broker accepting both US and non-US clients.
- The maximum leverage of Oanda is 1:200 (global), 1:50 (US), 1:30 (EU)
- Oanda offers a variety of trading tools and platforms, including MT4, MT5, Webtrader, TradingView, etc.
- Trading fees: Spreads range from 0.1 to 0.6, and commissions range from 3.5 to 4 per lot (depending on account type).
- CFD trading is not allowed for US clients; however, non-US clients can trade CFDs.
KOT4X:
- Unregulated offshore forex broker
- Maximum leverage is 1:500 (ranges from 1:1 to 1:500)
- Accepts US Clients and offers CFD trading facilities.
- Offers Only MT4 with all its versions desktop, mobile
- The trading fee is $6 per standard lot
- The minimum deposit ranges from between $10 and $250 $10 for a BTC deposit, $25 to $50 for a Debit/Credit card via Instacoins.)
Our score for Oanda is 8.8, and for KOT4X it is 3.5.
