Kwakol Markets is a multi-asset online brokerage founded in Nigeria. Kwakol Market's trading platform specializes in offering brokerage services for a diverse set of asset classes that includes CFD trading, stocks trading, commodities, indices, crypto and Forex trading.
In addition, Kwakol Markets provides free periodic content and educational tools covering the basics of trading, such as strategy formulation and fundamental analysis.
To register or sign up for an account on Kwakol Markets, you just need to fill up your full name, phone number, country of residence, email and supply a password before proceeding with identity verification and beginning using your account by making an initial deposit.
Kwakol Markets offers a variety of account types to suit an assortment of trading styles.
There are currently six types of accounts on our platform. These are:
Commission conditions, margin calls, and leverage, among others, vary by account type.
Similar to most online trading platforms, Kwakol also comes with a Demo Account that users can use to practice their trading strategies and hone their skills without risking real money first. Kwakol Markets' demo account does not have any expiration date.
There is no third-party login process such as via Gmail or Facebook on Kwakol Markets as it only requires users to log in to their website or app by simply entering the user's email and password.
You can fund your Kwakol Markets account by making a deposit using your credit or debit cards.
Remember: If you made a deposit using your card, you can only withdraw the same amount using your card and withdraw any profits using other methods such as by bank transfer or via crypto.
Kwakol Markets also allow deposits via crypto and through wire and bank transfer. There are zero fees for deposits made of up to $5,000.
Kwakol Markets requires a minimum deposit of $100. According to financial analysts, $100 is just about the right amount to start one's investment on the market — especially with CFD trading.
Kwakol Markets lets traders choose between MetaTrader 4 and MetaTrader 5 for their platform of choice.
Kwakol debuted the Kwakol Funds app on May 22, 2022. This app connects users to their investments in a simple, quick and convenient manner through their mobile phone.
Kwakol Markets offers tradeable assets that includes CFDs across worldwide exchanges, stocks, commodities, indices, crypto, and forex trading.
Kwakol Markets offers spreads depending on account type. Here are the spreads being offered according to account classifications:
Kwakol Markets charges a $25 banking fee on withdrawals over $5,000 and overnight fees on all account types with the lone exception of the Islamic Account. Take note: the overnight fees depend on the buy or sell position, position size and the financial asset held.
Kwakol also charges a commission fee of $5 per standard lot (100,000 of the base currency) for holders of Professional Account and $2 per standard lot for VIP Account holders.
Quotes and prices displayed by Kwakol Markets to its users are based on real-time figures and are accurate. This is based on the various tests that we've done on their platforms.
The process of withdrawals only takes a maximum of one business day. Most withdrawals are processed within the day of the request.
Take note: When withdrawing funds to your credit or debit cards, only the total amount of your Kwakol Markets account is legally allowed to be credited back to your card. Any profits made from your trading can be withdrawn using either a bank / wire transfer or Bitcoin.
Kwakol Markets also allows users to withdraw profits via crypto. You just need to make a withdraw request on your account stating you wanted to withdraw via crypto.
Kwakol Markets have a chat support, email support and phone support for customers 24 hours during the 5 business days of the week. Its customer service is multilingual with English and Nigerian being the main support languages.
You can contact Kwakol Markets at [email protected] or by dialling +234-0-7061727177.
Kwakol Markets was once a subject of persistent "scam" rumors because it took some time before it became regulated by leading financial regulators. After the rumors died down, Kwakol Markets slowly improve its standing in the online brokerage industry by debuting innovative tools such as the market analysis app the Autochartist and Acuity.
Kwakol Markets is regulated and authorized to by the Australia Security and Investment Commission (ASIC) to provide brokerage services that includes product advice, acquirement and disposal of financial products for their clients. Kwakol Markets also has a license issued by FINTRAC Money Services of Canada as well as from the US Financial System and National Futures Association (NFA).
With a solid commitment to provide clients with maximum chances of achieving success through its comprehensive financial analysis tools, Kwakol Markets is getting a lot of attention from traders. Offering extensive materials for learning and helping traders develop sound fundamental analysis and form effective trading strategy, Kwakol Markets comes in highly recommended.
Kwakol fully supports users' pursuit of financial freedom by providing cutting-edge technologies that puts emphasis on market analysis, research and education that can help equip traders with much needed knowledge to explore the complex world of financial trading.