Kwakol Markets Review 2023: All you need to know about this broker

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Welcome to this review of Kwakol Markets, a leading online broker in the financial industry. Kwakol Markets is a well-established brokerage firm that has been providing trading services to clients for several years.

They offer a wide range of trading instruments, including forex, commodities, cryptocurrencies, stocks, and indices, among others. With Kwakol Markets, traders can access the global financial markets and execute trades efficiently using their advanced trading platforms.

In this review, we will take an in-depth look at the features and services offered by Kwakol Markets to help you determine if they are the right broker for your trading needs. So, let’s dive in and explore what Kwakol Markets offers.

What is Kwakol Markets?

Kwakol Markets Limited, headquartered in Nigeria, is a brokerage firm that facilitates trading in various asset classes through the MetaTrader platforms. These asset classes include forex, stocks, commodities, indices, and cryptocurrencies.

The brand is committed to providing traders with competitive trading conditions, which include ultra-fast executions and micro-lot trading, in addition to offering spreads as low as 0.0. For novice traders, Kwakol Markets offers a free demo account, and copy trading service, and requires a minimum deposit of $250 to get started.

It is worth noting that Kwakol Markets is an authorized finance company by the Australian Securities and Investments Commission (ASIC) and holds a Foreign Exchange Dealer License from FINTRAC Money Services Canada.

This broker has the ability to provide a straightforward, secure, and enjoyable trading experience. The broker achieves this through a range of transparent services that use innovative technology to keep up with the latest trends in the market. The review implies that the broker’s technology is up-to-date and flexible enough to adapt to an ever-changing market environment.

Pros and Cons of Kwakol Markets

Pros of using Kwakol Markets:

  • Wide range of trading instruments: Kwakol Markets offers a diverse range of trading instruments, including forex, stocks, commodities, indices, and cryptocurrencies, providing traders with ample opportunities to diversify their trading portfolios.
  • Competitive trading conditions: The broker provides traders with competitive trading conditions, including ultra-fast execution, low spreads, and micro-lot trading, which can be beneficial for traders looking to reduce trading costs.
  • Regulatory oversight: Kwakol Markets is authorized and regulated by reputable financial regulatory bodies, such as the Australian Securities and Investments Commission (ASIC) and FINTRAC Money Services Canada, which can provide traders with some assurance of the broker’s reliability.
  • Educational resources: The broker offers a range of educational resources, such as webinars, e-books, and video tutorials, which can be helpful for traders looking to improve their trading skills and knowledge.
  • User-friendly trading platforms: Kwakol Markets uses the popular MetaTrader platforms, which are user-friendly, efficient, and widely adopted by traders worldwide.

Cons of using Kwakol Markets:

  • Limited account types: Kwakol Markets offers only one account type, which may not cater to the needs of all traders, especially those looking for specialized services.
  • Limited payment methods: The broker provides a limited range of payment methods, which can be inconvenient for traders who prefer to use a specific payment option.
  • Limited customer support: While the broker provides customer support through various channels, such as email and live chat, some traders may find the support insufficient or slow.
  • Limited geographical presence: Kwakol Markets operates primarily in Nigeria, which may limit its accessibility to traders in other regions.

Kwakol Markets Trading Instruments

Here’s a breakdown of the different trading instruments available:

  1. Forex: Kwakol Markets provides traders with access to over 50 currency pairs, including major, minor, and exotic pairs. Traders can take advantage of tight spreads, fast execution, and leverage of up to 1:500.
  2. Stocks: The broker offers CFD trading on a range of international stocks, including some of the world’s largest companies such as Apple, Facebook, and Google. Traders can trade stocks on margin, allowing them to take larger positions with a smaller amount of capital.
  3. Commodities: Kwakol Markets allows traders to trade CFDs on a range of commodities, such as gold, silver, crude oil, and natural gas. This provides traders with exposure to the commodities market without the need to own the underlying asset.
  4. Indices: The broker offers CFD trading on a range of global stock indices, including the S&P 500, NASDAQ, FTSE 100, and the DAX. Traders can take advantage of the low spreads, fast execution, and leverage of up to 1:200.
  5. Cryptocurrencies: Kwakol Markets provides traders with access to the crypto market, allowing them to trade CFDs on a range of popular cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin. Traders can trade these instruments on margin, which can increase their potential profits or losses.

Kwakol Markets Trading Platforms

Traders can access the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms via Kwakol Markets. These platforms are globally renowned and widely used among traders. Let’s take a closer look at the features and functionality of each platform.

  1. MetaTrader 4 (MT4): The MT4 platform is recognized for its intuitive user interface and sophisticated charting features. It offers traders access to live market data, an extensive array of technical indicators, and the option to automate trading strategies through Expert Advisors (EAs). With MT4 being accessible on desktop, web, and mobile devices, traders can conveniently access their accounts and conduct trades from any location.
  2. MetaTrader 5 (MT5): MT5, an upgraded version of its predecessor, MT4, builds on its success by furnishing traders with supplementary features and enhanced functionality. MT5 boasts advanced charting abilities, allowing traders to scrutinize up to 100 charts at once. Moreover, MT5 offers more intricate order types such as stop-limit orders, and enables trading on exchange-traded stocks and commodities. Like MT4, MT5 is accessible on desktop, web, and mobile devices.

Both platforms offer traders the following benefits:

  • Fast and reliable order execution
  • Multiple order types, including market, limit, stop-loss, and take-profit
  • Real-time market data and news feeds
  • Customizable charting tools and technical indicators
  • Trading directly from the chart
  • Multiple timeframes, including tick, minute, hourly, daily, weekly, and monthly
  • Multi-language support

Types of Kwakol Markets Account

1. Standard Account

The Standard Account is an ideal option for novice traders who intend to commence trading with a modest deposit. With a minimum deposit of $250, traders can gain entry to more than 50 currency pairs, along with other trading instruments such as stocks, commodities, indices, and cryptocurrencies. The account offers fixed spreads starting from 1.2 pips and leverage of up to 1:500.

2. Pro Account

Geared toward proficient traders who demand superior spreads and rapid execution, the Pro Account presents an ideal solution. To open a Pro Account, traders must deposit a minimum of $10,000, and they can avail themselves of the same array of trading instruments as the Standard Account. The Pro Account provides spreads commencing from 0.0 pips and leverage of up to 1:200.

3. VIP Account

Crafted to cater to the unique demands of high-volume traders who necessitate individualized assistance and supplementary perks, the VIP Account is an exceptional choice. To initiate a VIP Account, traders must deposit a minimum of $50,000 and can take advantage of the same collection of trading instruments offered by the other account types. The VIP Account features spreads starting from 0.0 pips and leverage of up to 1:100, in addition to exclusive benefits such as dedicated account managers, complimentary VPS hosting, and specialized trading tools.

4. Kwakol Markets Demo Account

Kwakol Markets provides a demo trading feature on all platforms, including its proprietary terminal. Traders can access virtual funds of up to $10,000 to practice trading without risking any real money. Since the Web Trader is customized to the broker, it might be beneficial to invest some time getting familiar with the platform’s features before engaging in live trading.

How To Open Kwakol Markets Demo Account

  1. Register for a Kwakol Markets account
  2. From the client dashboard toggle to the ‘Demo’ icon on the ‘Accounts’ page
  3. Select ‘Add New Account
  4. Open the platform and log in with the demo credentials
  5. Start trading risk-free

5. Gold Account

  • Leverage up to 1:400
  • £25,000 minimum deposit
  • Floating spreads from 0.01 pips
  • STP order model, from 0.3-second processing

6. Platinum Account

  • Leverage up to 1:450
  • £100,000 minimum deposit
  • Floating spreads from 0 pips
  • STP order model, from 0.3-second processing

7. Diamond Account

  • Leverage up to 1:450
  • £250,000 minimum deposit
  • Floating spreads from 0 pips
  • STP order model, from 0.3-second processing

8. Premium Account

  • Leverage up to 1:500
  • £25,000 minimum deposit
  • Floating spreads from 0 pips
  • STP order model, from 0.3-second processing

Kwakol Markets Leverage

Kwakol Markets has no restrictions on leverage, as it is not regulated by any EU financial authority that usually restricts it to a maximum of 1:30. Instead, the brokerage offers substantial leverage of up to 1:1000, but only for VIP account holders with a minimum deposit of £1 million. The Standard account offers a leverage of up to 1:200. It’s essential to note that although trading with high leverage can increase profit potential, it can also lead to significant losses.

Read Also: Consummate Traders Review: All you need to know about Consummate Traders

Kwakol Markets Regulations and Security

As a Corporate Authorised Representative of HLK GROUP PTY LTD, Kwakol Markets is licensed by the Australian Securities and Investments Commission (ASIC) to provide financial services. This regulatory oversight ensures that clients can trust Kwakol Markets as a reliable brokerage firm that operates with transparency and adheres to various rules and regulations to safeguard their interests.

Kwakol Markets is a wholly-owned enterprise holding several licenses that authorize them to provide financial services. They possess a Foreign Exchange dealer License from FINTRAC Money Services Canada, registered with the number M22600427. Additionally, they hold an MSB (Money Services Business) license issued by the U.S. financial system and an NFA license issued by the National Futures Association.

Although Kwakol Markets is a comparatively new broker in the industry, they have established itself well. The company is authorized to provide financial product advice, handle financial product issues, and execute transactions involving financial products for clients. Traders can hold deposited funds in their own name or entrust Kwakol Markets to manage funds through an independent bank account. Moreover, the broker diligently identifies, assesses, and manages risks related to its everyday operations.

Kwakol Markets is not aimed at any specific jurisdiction and is not intended for use in any manner that contravenes local laws or regulations. This applies to all countries, including the USA. Some products, such as cryptocurrencies, may not be accessible in certain regions.

Kwakol Markets Accepted Countries

Kwakol Markets accepts traders from Australia, Thailand, Canada, the United States, the United Kingdom, South Africa, Singapore, Hong Kong, Nigeria, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most other countries

Kwakol Market Fees and Commissions

Kwakol Markets offers fees that are generally on par with industry standards unless you qualify for a higher-tier account by making a substantial deposit.

We recommend beginners to opt-in for the Standard account, which has the lowest minimum deposit requirement of £250 while providing competitive floating spreads starting from 0.8 pips. Although more advanced account types such as Pro and Gold have tighter spreads of 0.01 pips, they come with higher deposit requirements of £10,000 and £25,000, respectively, which may be too steep for some investors.

Commission fees are similar to those of other brokers. Kwakol Markets also applies overnight fees to all account types except for the Islamic account. Moreover, a £10 monthly charge applies to dormant accounts after six months.

Accepted payment methods:

  • Cryptocurrency
  • Credit/Debit Cards
  • Bank Wire Transfer

How To Open A Kwakol Markets Account

New users can open a Kwakol Markets live trading account in under five minutes. After following the ‘Visit’ button in this review:

  1. Complete the first page of the registration form including choosing an account type
  2. Add your personal details on pages two and three, including contact information
  3. Review and agree to the terms and conditions
  4. Select ‘Sign Up

Once you have signed in, you can open an alternative account, or register for a demo profile.

Note, account verification is required to make a deposit and start trading. Click on the ‘Unverified’ icon in the top menu of the client dashboard. Here you can upload identity documents and proof of residency

How To Deposit On Kwakol Markets

  1. Log in to the client dashboard
  2. Visit the ‘Funds’ page and select ‘Deposits’
  3. Click on the desired payment method
  4. Add the value to deposit
  5. Click ‘Proceed’
  6. Complete the required payment details
  7. Click submit

Kwakol Markets Withdrawal

When withdrawing funds from Kwakol Markets, you must use the same payment method used to deposit the funds initially. The broker processes withdrawal requests on the same business day, although the time required for the funds to reflect in your account varies depending on the payment method chosen. A fee of $25 is imposed for bank wire transfer withdrawals that exceed $5000.

Is Kwakol Markets Legit, Trusted and Reliable?

As of the time of writing this article, Kwakol markets is a legit and reliable broker.  According to the official website of Kwakol Markets, the broker has regulation and authorization through FINTRAC in Canada, ASIC in Australia, and NFA in the United States. However, while the ASIC regulation (AFSL 435746) and FINTRAC (MB22600427) can be confirmed on the regulatory entities’ websites, according to the NFA, Kwakol Markets is not a registered entity.

It is also important to make further research about the broker, Kwakol market, and also read other reviews from their customers online before making any financial decisions.

Kwakol Markets Customer care

Contact details:

  • Email:
  • Telephone:  +(44) 2080891164 or +(44) 7862144547

In Conclusion

Kwakol Markets specializes in providing investment opportunities, research, and services to individuals, retail investors, and institutions.

They also offer education and insights on traditional and digital asset markets, all powered by a commitment to their clients and innovative technology in global finance. One of their strengths is their ability to simplify the trading process for modern users, allowing them to focus on trading with ease.

It is worth noting that their recent additions of Acuity and Autochartist are highly commendable as these tools provide powerful opportunities for discovering trades across various markets.

Kwakol Markets does, however, offer plenty of support and guidance through its FAQ page and help center. This can be accessed directly through the official website. You can find plenty of step-by-step user guides.

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