Saxo Bank vs Kot4x - Fees Review included
Which broker is better Saxo Bank or Kot4x? Our expert assessment conducted according to TU’s own methodology showed that Saxo Bank is one of the top brokers in the financial market with the TU Overall Score of 7.04 out of 10. Kot4x is one of the top brokers in the financial market with the TU Overall Score of 6.08 out of 10. Find out more about TU Overall Score.
| Feature | Saxo Bank | Kot4x |
|---|---|---|
Overall |
4.5 |
3.1 |
4.8 |
1 |
|
4.6 |
4.2 |
|
5 |
3.5 |
|
Investment Instruments |
4.2 |
1 |
Platforms and Charting Tools |
4.6 |
3.5 |
Deposit and Withdrawal |
4.0 |
3.7 |
Research |
5 |
2.4 |
Education |
3.6 |
2.3 |
Support |
4.4 |
3.4 |
Bonuses |
3.6 |
4 |
|
|
|
Saxo Bank vs Kot4x: Pros and Cons
The SaxoBank brokerage company was founded in 1992 under the original name Midas. In 2001, the broker was licensed by the FSA, a Danish Financial Supervisory Authority. After that, the company changed its name to SaxoBank. Today the broker provides online access to various financial markets to clients from 170 countries. The broker's divisions also have licenses from FCA (UK), ASIC (Australia), and licenses from other regulators.
The Kot4x Broker (kot4x.com) is an online Forex cryptocurrency and CFD broker with advanced technologies for trading on the financial markets. The company provides a secure ECN trading environment and offers over 250 trading instruments, including cryptocurrencies. Kot4x doesn’t limit trading strategies. It charges low trading fees and allows payments in bitcoins.
| Saxo Bank | Kot4x | |
|---|---|---|
| Overall Pros | favorable trading terms for professional traders with at least 1 year of experience | ECN STP trading model |
| over 71 thousand instruments for trading | Crypto CFDs | |
| the opportunity to invest in ready-to-use long-term portfolios managed by professionals | 20% withdrawal bonus | |
| Funding up to $200k for pro traders | ||
| BTC withdrawal | ||
| Overall Cons | Cent accounts are not available | Not regulated broker |
| a ban on algorithmic trading for traders from abroad | Weak research and education | |
| you cannot contact support in the online chat on the company's website (The chat is available only after full registration on the broker’s website and passing KYC). | No passive income tools | |
| High ECN trading fees |
Saxo Bank vs Kot4x: Safety and Regulation
| Regulated By: | Saxo Bank | Kot4x |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
DFSA (Denmark) , and other European regulators |
Kot4X is unregulated forex broker |
Saxo Bank vs Kot4x: Trading Conditions
| Trading Conditions | Saxo Bank | Kot4x |
|---|---|---|
Minimum Deposit |
$0 |
$25 |
Trading Platforms |
SaxoTraderGo, SaxoTraderPro |
МТ4 |
Max Leverage (Futures) |
1-30 |
1-500 |
Supported Markets |
Forex, CFDs, stocks, ETFs, futures, bonds, Forex options, quoted options, Mutual Funds, Options |
Forex CFDs on Crypto, Metals, Indices, Stocks |
Trading assets |
71000+ |
250+ |
Trading Accounts |
Classic, Platinum, VIP, Professional |
Standard, PRO, VAR, MINI |
Base Account Currencies |
USD, EUR |
|
Saxo Bank vs Kot4x: Fees
Forex Trading Fees
| Fee | Saxo Bank | Kot4x |
|---|---|---|
Standard Account EURUSD Average Spread |
0.7 pips |
1.6 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
$7 |
ECN Account EUR Average Spread |
Not supported |
0.5 pips |
CFD Trading Fees
| Fee | Saxo Bank | Kot4x |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Saxo Bank | Kot4x |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No for BTC withdrawal |
Inactivity Fee |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Saxo Bank vs Kot4x: Trading Assets
| Asset Name | Saxo Bank | Kot4x |
|---|---|---|
Overall |
71000+ |
250+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
Yes |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
Yes |
No |
Bonds |
Yes |
No |
Mutual funds |
Yes |
No |
Stock options |
Yes |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
Saxo Bank or Kot4x: Investment Programs
| Asset Name | Saxo Bank | Kot4x |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
Yes |
No |
Other |
No |
No |
Trading Platforms: Kot4x or Saxo Bank
| Saxo Bank | Kot4x | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
SaxoTraderGo, SaxoTrader Pro |
No |
Others |
No |
No |
|
|
|
Saxo Bank vs Kot4x: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Saxo Bank | Kot4x |
|---|---|---|
Bank Transfer |
Yes |
No |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
No |
Crypto |
No |
Yes |
Saxo Bank vs Kot4x: Research
| Research Type | Saxo Bank | Kot4x |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
Saxo Bank vs Kot4x: Education
| Education Type | Saxo Bank | Kot4x |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
No |
Yes |
Videos |
No |
No |
Cent account |
No |
No |
Kot4x vs Saxo Bank: Support
| Support Features | Saxo Bank | Kot4x |
|---|---|---|
Working Days |
24/5 |
24/5 |
No |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Saxo Bank vs Kot4x: Forex Bonuses and Promo
| Promo | Saxo Bank | Kot4x |
|---|---|---|
Forex Bonus |
No |
20% withdrawal bonus |
Affiliate Program |
“Member gets member” represents a remuneration accrual for attracting new clients who have replenished a trading deposit at least once. When replenishing from $10,000, the partner gets $500; from $200,000 - $1,000; from $1,000,000 - $3,000 |
Yes |
Other Promos |
Accrual of points for account replenishment and qualified transactions. Once you have collected enough points, you will be promoted to a higher account level, allowing you to improve your trading conditions. |
|
|
|
|
Top 5 Reviews on Kot4x
-
Comment
I do not agree with many negative reviews of kot4x. There are nuances and shortcomings, as everywhere else. However, you should not report deception or fraud on the part of the broker. I myself trade with two companies, one of which is kot4x. I withdrew my profits many times, and they sent the money to me. So this is definitely not a scam.
-
Comment
The company Kot4x has problems with withdrawing to the electronic wallet, they said that the wallet is not in my name, even though this wallet was verified by me. It's nonsense because I funded the account from it! Tried to withdraw only $70, they won't allow it. Looks like Kot4x is a scam! Or they have technical problems with the software.
-
Comment
I didn't like the Kot4x company. Despite not having a lot of experience, even I understand that their trading conditions are unfavorable. Moreover, there are frequent disruptions in the terminal, and I have to constantly reload it throughout the trading day. This speaks volumes. In general, I'm switching from Kot4x to another broker. I wouldn't recommend this one for trading.
-
Comment
The broker Kot4x is far from transparent in its conditions. For example, the company's website states that clients are provided with an ECN account. However, the ECN system implies instant order execution without any delays. In the Kot4x terminal, orders are opened for several minutes. The last time, my order took six minutes to process. This is very long, and I had to close this order with a significant loss. Trading and making a profit under such conditions is impossible.
-
Comment
Kot4x is very dubious and it seems that its main goal is to make traders lose their deposits. I opened an account with this broker and quickly lost my deposit. When I decided to withdraw the remaining funds, the process took more than three weeks. It was awful and nerve-wracking. Therefore, I always advise you to avoid Kot4x!
Top 5 Reviews on Saxo Bank
-
Comment
Saxo Bank is well-known due to its technological solutions for online trading. So I decided to try it. Its SaxoTraderGO platform offers a wide range of features, including charts and analytical instruments, fast order execution, and access to real-time market data. However, SaxoTradePRO was too complicated for me. The broker offers a wide range of financial instruments. And you can use one platform to work on global stock exchanges and to trade CFDs and Forex. The minimum fee for trading stocks is $1.
-
Comment
Saxo Bank is well-known due to its technological solutions for online trading. So I decided to try it. Its SaxoTraderGO platform offers a wide range of features, including charts and analytical instruments, fast order execution, and access to real-time market data. However, SaxoTradePRO was too complicated for me. The broker offers a wide range of financial instruments. And you can use one platform to work on global stock exchanges and to trade CFDs and Forex. The minimum fee for trading stocks is $1.
-
Comment
Saxo Bank provides a personalized approach to client services and offers a wide range of financial services that include asset management and consulting. Moreover, it provides high-quality educational materials and market research that help me make informed investment decisions. I participated in webinars several times and also listened to podcasts with Saxo Bank experts. I use SaxoTraderGO for trading and SaxoInvestor for long-term investment.
-
Comment
Saxo Bank is a broker with favorable conditions, offering over forty thousand trading instruments, ready-made portfolios, and a professional platform. However, for novice traders, the conditions of this broker may be challenging. Saxo Bank requires a high initial deposit, floating spreads, commissions depending on trading volumes, and maximum leverage up to 1:40. I think this broker is more suitable for experienced traders.
-
Comment
Being a licensed bank and broker, Saxo Bank complies with strict security and regulation standards. These include client data protection, transaction transparency, and compliance with financial rules. Money is transferred without delays or additional expenses, except for bank fees. Support in a live chat of the trading platform is prompt, and chat operators respond within 5 minutes. Personal consultations are available. Saxo Bank provides direct access to markets, therefore orders are always executed promptly.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.