Kwakol Markets

General Information & Regulation

Kwakol Markets is an online broker registered in Nigeria, with its actual address, founding time and the company behind it unknown to all. According to its sleek website, Kwakol Markets is not subject to any regulation.

Market Instruments

In terms of tradable financial instruments, what Kwakol Markets offer are forex currency pairs, Metals, Indices, stocks, Futures, energies, Crypto currencies.

Minimum Deposit

Kwakol Markets sets its minimum deposit to $50. Athough this seems the proper and reasonable amount, given the fact that this broker is an unregulated broker, traders should stay away from it.

Leverage

Kwakol Markets sets its leverage to up to 1:1000 – this absolutely insane amount is much higher than what regulators have deemed appropriate for retail traders to access – amounts of up to 1:50 in the case of the US regulatory bodies.

Spreads & Commissions

In terms of spreads and commissions, or trading costs, Kwakol Markets does not make this part clear. As most unregulated brokers do, Kwakol Markets hide its real trading fees to scam more people.

Inactivity Fee

As for the inactivity fee, it is $10 per month after 6 months of inactivity, which is generally in line with the industry standards.

Trading Platform Available

Kwakol Markets provides access to a distribution of Metatrader 4 – curiously enough labeling it one of its successor, Metatrader 5. Both platforms are regarded as an industry standard, with their powerful automated trading features and intuitive interface, but it is weird that Kwakol Markets does not know what software it offers.

Deposit & Withdrawal

Kwakol Markets accepts deposits via cryptocurrencies and wire transfers – both methods are ineligible for chargebacks, which leads us to believe Kwakol Markets seeks to restrict the ability of its traders to get their money back.

Customer support

Kwakol Markets says it offers the 24/7 customer support. The Kwakol Markets customer support can be reached through email, telephone. Live chat is not available.

Trading Risks

Scammers are liars and thieves. Theyll promise opportunities that sound too good to be true, get-rich-quick schemes, guaranteed risk-free profits and so on. By creating a false sense of hope, the cons try to entice people into fraudulent schemes and steal their money. Kwakol Markets has no Forex license, so your funds will be at risk if you deposit.