CityIndex vs Kwakol Markets

CityIndex vs Kwakol Markets Comparison Table 2023
CityIndex Review 2023 Kwakol Markets Review 2023
4.4
4.5

Kwakol Markets is #1 in our CFD broker rankings.

United States Flag Traders from US not accepted
United States Flag Traders from US accepted

City Index is an established and award-winning forex, CFD and spread betting broker with top-tier global regulation, including in the UK (FCA) and Australia (ASIC). With 30+ years in the industry, 13,500+ instruments and 24/5 customer support, City Index is a solid pick for aspiring traders.

Kwakol Markets is a Nigerian headquartered broker with strong regulatory oversight in Australia and Canada. A great selection of asset classes are available, including synthetic products that simulate realistic market activity. Clients can trade on the MT4, MT5 and cTrader platforms, as well as a copy trading solution whereby a fee is only paid on profitable trades.

Comment by Reviewer
"City Index is best for new and intermediate traders looking for a wide selection of assets on user-friendly platforms." "Kwakol Markets is a good option for newer traders with a dedicated learning academy, copy trading and a choice of reliable platforms. New clients can also sign up and start trading in four straightforward steps."
Pros
  • Thousands of instruments including thematic indices and interest rates that are not available at many alternatives
  • Industry-leading platforms including MT4, plus access to cutting-edge third-party tools like TradingView
  • Excellent reputation with over 1 million account holders and tier-one regulatory oversight
  • Tight spreads from 0.5 pips on EUR/USD and competitive commissions on CFD shares
  • A free demo account with unrestricted access to all markets and trading tools
  • Extended hours trading on 70+ popular shares including Amazon and Tesla
  • No minimum deposit to get started
  • Full range of investments with 1000+ assets including cryptos
  • Wide range of free learning resources such as an eBook
  • Account manager and client support functions
  • MetaTrader 4 and MetaTrader 5 integration
  • Excellent market analysis tools
  • Easy account opening process
  • High leverage up to 1:500
  • Demo account available
  • 2FA login security
  • 0.01 Lot trading
Cons
  • Cryptocurrency trading not available in all locations
  • No Islamic account for Muslim traders
  • $15 monthly inactivity fee
  • US traders not accepted
  • Regional restrictions in certain countries
  • Lack of deposit and withdrawal methods
  • High deposits for premium features
  • The only base currency is USD
Awards
  • Best Broker Africa 2022 - UF Awards
  • Most Trusted Broker Nigeria 2022 - UF Awards
  • Best Emerging Broker 2022 - - UF Awards
Instruments
Stocks, Spreadbetting, Options, CFD, Forex, Crypto CFDs, Forex, Stocks, Indices, Commodities, Crypto
Demo Account
Yes Yes
Minimum Deposit
$0 $1
Trading Platforms
  • MT4
  • TradingView
  • TradingCentral
  • MT4
  • MT5
  • AutoChartist
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
ASIC, FCA, MAS ASIC, FINTRAC
Margin Trading
No Yes
Margin Rate
2.5%
STP Account
Yes Yes
ECN Account
No Yes
DMA Account
Yes No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
Yes iOS & Android
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
No Yes
Copy Trading Platform
Kwakol Invest offers straightforward copy trading, connecting newbies with experienced traders. The leaderboard makes it easier to find suitable strategy providers with insights into the number of followers, total returns and more. You also only pay a fee on profitable positions.
Social Trading
No No
Trade Signals
Smart Signals
VPS Hosting
No No
Tournaments
No Yes
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
Yes No
Inactivity Fee
$10
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • AUD
  • CZK
  • USD
Stock Exchanges
Commodities
CFD Trading
Trade 5,000+ CFDs from a single account with no hidden fees and free live market data. The suite of markets is impressive vs alternatives, including access to shares, indices, commodities and bonds. CFDs are available on a breath of underlying assets, including stocks, indices, commodities, forex and cryptos. High leverage up to 1:500 is available alongside a 0.01 minimum lot size and award-winning software. For the tightest spreads from 0 pips, opt for the Premium account.
Leverage
1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction. 1:1000
FTSE Spread
1 pt From 0.8 pips (Standard Account)
GBPUSD Spread
0.8 pips From 0.8 pips (Standard Account)
Oil Spread
0.4 From 0.8 pips (Standard Account)
Stocks Spread
Variable From 0.8 pips (Standard Account)
Forex Trading
Trade a wide selection of 80+ currency pairs with spreads from 0.5 pips and industry-favorite platforms. City Index has 40+ years experience in forex trading with liquidity from tier-one banks. Kwakol Markets offers a wider range of forex pairs than most competitors, with 90+ assets available. Users get fast execution speeds through the ECN model and competitive spreads. On the negative side, not all currency pairs are available on MT4.
GBPUSD Spread
0.8 From 0.8 pips (Standard Account)
EURUSD Spread
0.5 From 0.8 pips (Standard Account)
EURGBP Spread
0.8 From 0.8 pips (Standard Account)
Assets
84 90+
Currency Indices
  • USD
Cryptocurrency
Go long or short on popular digital currencies with ultra-tight spreads and fast order executions. Leverage also allows traders to magnify their purchasing power. Trade cryptos against fiat currencies, other cryptocurrencies and metals like gold. This separates the broker from many alternatives that only offer cryptos paired with the USD. High leverage up to 1:20 on cryptos is available, plus support for Expert Advisors and copy trading.
Spread
BTC 0.5%, ETH 1% From 0.8 pips (Standard Account)
Coins
  • BCH
  • BTC
  • ETH
  • LTC
  • XRP
  • BTC
  • BCH
  • ETH
  • LTC
  • XRP
  • BNB
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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