Kwakol Markets Review

Richard Montana | August 2, 2022

Kwakol Markets is a multi-asset broker with a unique range of financial services including online trading and investing along with advanced market analysis tools and some educational resources which can help clients improve their knowledge of the global markets. They let you trade online with very competitive trading conditions and fees when compared to some of their direct competitors. I like that they are also regulated by some well respected regulators which we will cover in this review.

Pros & Cons
  • Popular MetaTrader platforms for desktop and mobile devices
  • Powerful market analysis tools in Autochartist and Acuity
  • Spreads from 0.0 pips and $0 commission account options
  • Dedicated account managers and client support
  • Minimum deposit of just $1 on cent accounts
  • Free demo trading accounts to practice trading online
  • Swap-free Islamic accounts for Muslim traders
  • Free eBooks to improve your market knowledge
  • Flexible account types and funding options
  • Best trading conditions require a larger deposit
  • Cannot accept clients from some countries due to regulations
  • Could improve on educational materials

Summary

Kwakol Markets is based in Nigeria and has the vision to provide the best trading experience and the best market pricing and execution to traders globally. They do this through various means, including tight spreads, low fees, fast trade execution speeds, minimum 0.01 lots, $1 minimum deposit and leverage up to 1:1000.

The broker provides a suitable solution for anyone who is looking for a simple, secure and enjoyable trading experience with a range of transparent services that implement innovative technology to ensure that the broker stays up to date with the latest trends in an ever-evolving market.

AvaTrade Logo

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Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

Kwakol Markets is a Corporate Authorised Representative of HLK GROUP PTY LTD who hold an Australian Financial Services Licence issued by the Australian Securities and Investments Commission (ASIC). This regulation can give clients the peace of mind that they are using a reputable brokerage firm that operates in a transparent manner and must comply with the various rules and regulations that are put in place to protect their best interests.

Kwakol Markets also has a Foreign Exchange dealer License issued by FINTRAC Money Services Canada, with the registration number M22600427. They are a wholly-owned enterprise which has an MSB (Money Services Business) license issued by the U.S. financial system and NFA license issued by NFA (National Futures Association).

Despite being a relatively new broker when compared to others who have been around for more than a decade, Kwakol Markets are ticking the right boxes. They are authorized to provide financial product advice, deal with financial product issues and apply for, acquire, vary or dispose of financial products for clients.

You can choose to hold deposited funds in your own name, or have Kwakol Markets hold funds on your behalf in an independent bank account. The broker regularly pinpoints, analyses and regulates each type of risk connected with its day-to-day operations.

Kwakol Markets is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation. This includes but is not limited to the USA. Some products such as cryptos are not available in all countries.

Platforms

MetaTrader

I found that there is a good choice of powerful and advanced trading platforms for you to choose from. Whilst the platforms are packed with features for conducting in-depth market analysis and managing trades, I also find them to be very user-friendly. This makes them accessible for both new and experienced traders alike. The desktop platforms have the most functionality but the mobile trading apps make it easy to access the markets whilst on the move. I am often checking my phone to see how my trades are performing. However, I also run the MT4 desktop platform on a VPS as it supports automated trading strategies (expert advisors) whereas the app does not.

MetaTrader Platforms

MetaTrader Platforms

In terms of platforms, there is the industry standard MetaTrader 4 and MetaTrader 5 platforms. These are 2 of the most popular platforms that you will find with most trading brokers. That’s a good thing if you plan on mastering the platforms and ever need to switch brokers. Whilst they are very similar in many aspects, MT5 has slightly more advanced features and functionalities. However, these are only probably going to make a difference for more professional traders. MT4 is usually more than sufficient for most traders.

Both platforms capabilities can be significantly expanded with an almost endless amount of add-on indicators and tools available from within the platform’s marketplace and various websites. That being said, the default platform setup provides everything you need for analysing the markets, placing and managing trades.

MT4 Mobile App

MT4 Mobile App

With a variety of markets, pending and stop orders as well as a trailing stop at your disposal, you can perform trades regardless of the current market situation. Both platforms boast a fully-functional demo account offering strong support and access to a plethora of educational resources.

ECN Broker

Kwakol Markets accounts come with market-leading pricing and trading conditions through the MetaTrader platform by providing clients with true ECN connectivity. An electronic communication network (ECN) is a type of computerized forum or network that facilitates the trading of financial products outside traditional stock exchanges. One of the biggest advantages of ECN brokers is that they combine lots of price quotes from different liquidity providers and then, traders can choose the best bid and ask prices for the specific currency pairs which can reduce spreads.

Tools

Although the provided platforms are fully loaded with an impressive array of features, they also provide some of the best trading tools and market analytics to clients in order to help them increase their chances of success in the market and help ensure you are making informed trading decisions.

Autochartist

The Autochartist program automatically analyses chart formations, and then predicts the most likely turn of events on the market. You can use this powerful market analysis tool to look for trading signals and keep track of what is happening across many assets at once. It is known as one of the best trading tools when it comes to analysing charts and is always something we look for when choosing a broker. To use Autochartist, you just need to download either the MT4 or MT5 platform from Kwakol and install the Autochartist plug-in. You can find plenty of tutorials online that explain how to use it but I think a more hands-on approach can often be one of the most productive ways to familiarise yourself.

Autochartist

Autochartist

Acuity

Founded in 2013 and headquartered in the UK, Acuity uses sophisticated machine learning and natural language processing technology to analyse news items daily and quantify the mood of the market towards any given stock, currency or index.

Providing clients with an alternative to price-related data, Acuity offers multiple display and integration options to help augment existing trading tools, such as News Sentiment or ‘shock’ ratings for each asset, or dynamic real-time newsletters, and creates bespoke client offerings that reveal new trading ideas or helps investors confirm or deny existing strategies.

This is a great tool that can benefit all types of trader. It is free to use for clients which is great. You just need to download the Acuity Expert Advisor to your MT4 terminal to access real-time news and insights on what’s driving the world’s financial markets.

Acuity

Acuity

Education

They provide free eBooks which have been carefully prepared by industry experts to help you improve your education which is needed for making sensible trading decision backed by expertise. The materials are well-structured and can help to build a solid foundation for your education.

Markets

There is an excellent selection of over 1,000 financial instruments to choose from across multiple asset classes. You will find CFDs on major currency pairs (forex), stocks, commodities, indices and cryptos. Contract for differences (CFDs) allow traders to speculate on the price movement of a particular instrument without needing to physically own it. This makes them a popular choice amongst those of you who are active traders and would like to buy and sell various assets on a regular basis.

Accounts

Kwakol has a wide range of account types, each designed to suit a diverse range of trading styles. Each account type offers its own set of conditions including commission, margin call levels, and maximum leverage. It takes just a few minutes to apply for a Kwakol Markets account. There is a short application form on the website you need to complete. You will then need to upload some documents to validate your account. Once verified, you will be able to make a deposit and start trading. There are currently six main types of accounts on the platform which are as follows:

Standard

The standard account has a low deposit requirement and reasonable spreads when you consider that there is no commission charged on top.

  • Minimum Deposit $1
  • Floating Spread from 0,8 Pips
  • Commission $0
  • Leverage Up to 1:1000
  • Market Execution From 0,1 Sec

Professional

The professional account requires a larger deposit but you get spreads from 0 pips. However, there is a small $5 commission fee to consider which is lower than some other zero spread brokers.

  • Minimum Deposit $1,000
  • Floating Spread from 0,0 Pips
  • Commission $5 per standard lot
  • Leverage Up to 1:1000
  • Market Execution From 0,1 Sec

ECN

The ECN account deposit is what you would expect to pay at most ECN brokers. The main benefits of the ECN account are the fastest market execution, low spreads and best quotes with no delay.

  • Minimum Deposit $100
  • Floating Spread from 0,8 Pips
  • Commission $4 per standard lot
  • Leverage Up to 1:1000
  • Market Execution From 0,1 Sec

Cent

The cent account is a popular choice for new traders as it lets you practice trading in a live environment with minimal costs. There is just a $1 minimum deposit requirement but spreads and execution speeds are not the lowest when compared to some of the other accounts on offer.

  • Minimum Deposit $1
  • Floating Spread from 1 Pip
  • Commission $0
  • Leverage Up to 1:1000
  • Market Execution From 0,3 Sec (STP)

No-Swap (Islamic)

Kwakol Markets are a Muslim friendly broker as this swap-free account complies with Sharia law. Although no swap fees are charged, the spread is marked-up to compensate.

  • Minimum Deposit $1
  • Floating Spread from 1.6 Pips
  • Commission $0
  • Leverage Up to 1:1000
  • Market Execution From 0,3 Sec (STP)

VIP Account

This is the best account that they offer. It does require a high deposit of $10,000 but you get access to the brokers top trading conditions including spreads from 0 pips and a very low commission fee of just $2 per standard lot.

  • Minimum Deposit $10,000
  • Floating Spread from 0,0 Pips
  • Commission $2 per standard lot
  • Leverage Up to 1:1000
  • Market Execution From 0,3 Sec

Demo Accounts

Demo accounts that come preloaded with virtual funds are available free of charge. These allow you to try out the brokers platforms and services without any risk. They are popular for practising various trading strategies, improving your trading skills and gaining confidence before trading in a real environment.

Trading Conditions

There are no restrictions put on your trading activity provided you do not break the rules. This means that you can scalp, hedge and use automated trading systems on your account. The broker states that they have a very fast average execution speed time of just 12ms with no requotes. This puts them alongside the very best in the industry with regards to execution speeds and could prove to be a popular choice amongst scalpers who rely on small price movements.

Support

Kwakol Markets is a client focused broker with dedicated account managers assigned to each client. This means that you can get a personalised experience when compared to some larger brokers who have way too many clients to focus on each individual. Kwakol has a multilingual team of professionals that remain side by side with you along your trading journey to ensure that you have the best experience possible. They are readily available to answer all of your queries and quick to respond.

Funding

Kwakol Markets works closely with its payment service providers to ensure fast and flawless deposits and withdrawals. They offer a wide variety of money transfer methods including via bank cards, e-wallets and bank wire. The broker is one of a few that currently accepts both deposits and withdrawals by Bitcoin.

They charge $25 banking fees on withdrawals of $5000 and above which is very reasonable. Wire transfers are processed within 1 business day. Deposits via card payments have a maximum $600 per transaction which is quite limited. There is no charge for deposits of up 5K.

Conclusion

Kwakol Markets specialize in providing individuals, retail investors, and institutions with investment opportunities, research and services. They also offer education, and cutting-edge insights on traditional and digital assets markets. Their growth is powered by a commitment to clients as well as the use of innovative technology in global finance. One of the key things about Kwakol is that they have helped to simplify the trading process for the modern user so that they can focus on their trading activities with minimum fuss. I beleive that the addition of Acuity and Autochartist is highly commendable as these are very powerful tools for discovering trading opportunities across the board.

Kwakol Markets Logo

Min $1 Deposit

Kwakol Markets is a multi-asset broker with competitive trading conditions on the MT4/5 platforms. They have powerful trading tools, various account types and convenient funding options.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

About the Author

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Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.