Eightcap vs Kwakol Markets

Eightcap vs Kwakol Markets Comparison Table 2024
Eightcap	Kwakol Markets
Review 4.6	Review 0.8 Kwakol have recently frozen a large number of accounts with little or no reason given to clients. This has included removing the ability to make withdrawals. We cannot advise joining Kwakol at this time.

	Kwakol Markets is a Nigerian headquartered broker with strong regulatory oversight in Australia and Canada. A great selection of day trading assets 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.
Customer Reviews
3.5 Based on 2 Eightcap customer reviews
Comment by Reviewer
"Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."	"Kwakol Markets is a good option for newer traders with a dedicated learning academy, copy trading and a choice of reliable charting platforms. New clients can also sign up and start trading in four straightforward steps."
Pros
Having excelled across all key areas for day traders, Eightcap outperformed more than 490 competitors to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title. With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping. After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market. Eightcap stands out with a selection of powerful trading tools, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.	Kwakol Markets offers a comprehensive charting environment for active day traders, including 70+ pre-installed indicators in cTrader All third-party terminals support trading bots which will serve experienced algo traders You can access 1000+ short-term investments, including cryptos and synthetic products There are excellent market research tools available to support trading decisions, including the Acuity Expert Advisor and AutoChartist There's a wide range of free learning resources for beginners, including an eBook, online courses and a Telegram community channel
Cons
In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders. Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities. The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode. Despite a useful library of educational guides and e-books, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.	There's a limited range of funding methods, with just bank transfers, card payments, and PayPal available - many top brands like AvaTrade offer 10+ methods You must deposit at least $10,000 to access the best trading conditions The only base currency available is USD
Awards
Best Overall Broker 2024 - DayTrading.com Best Cryptocurrency Broker 2024 - DayTrading.com Best Forex Broker 2023 - DayTrading.com Best Cryptocurrency Broker 2023 - DayTrading.com Best MT4/MT5 Broker 2022 - DayTrading.com Best Customer Service Broker 2021 - Global Brands Magazine Best Global Forex MT4 Broker 2020 - Global Forex Awards	Best Broker Africa 2022 - UF Awards Most Trusted Broker Nigeria 2022 - UF Awards Best Emerging Broker 2022 - - UF Awards
Instruments
CFDs, Forex, Stocks, Indices, Commodities	CFDs, Forex, Stocks, Indices, Commodities, Crypto
Demo Account
Yes	Yes
Minimum Deposit
$100
Trading Platforms
MT4 MT5 TradingView	MT4 MT5 cTrader AutoChartist
Payment Methods
Bitcoin Payments BPAY Credit Card Debit Card Dragonpay FasaPay Neteller PayPal PIX Payment Skrill UnionPay Visa Wire Transfer	Bitcoin Payments Credit Card Debit Card Wire Transfer
Minimum Trade
0.01 Lots	0.01 Lots
Regulator
ASIC, FCA, xCySEC, SCB	ASIC, FINTRAC
Margin Trading
Yes	Yes
STP Account
No	Yes
ECN Account
Yes	Yes
DMA Account
No	No
MAM Account
Yes	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
iOS & Android	iOS & Android
App Review
Eightcap supports the MT4, MT5 and TradingView apps, catering to mobile traders looking for advanced charting tools. While we don’t love the increasingly outdated design of the MetaTrader suite, its dozens of technical indicators and drawing tools, multiple charting styles, and straightforward overlays in horizontal mode are excellent. The push notifications and active social network on the TradingView app are also valuable additions for aspiring traders and Eightcap has published helpful videos on connecting TradingView accounts to iOS and Android devices.
Android App Rating
4.4
iOS App Rating
4.8
Auto Trading
	Expert Advisors (EAs) on MetaTrader
Copy Trading
No	Yes
Copy Trading Platform
	Kwakol Invest continues to offer 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, making the service more affordable than some competitors.
Social Trading
Yes	No
Trade Signals
Yes
VPS Hosting
Yes	No
Tournaments
No	Yes
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
$0	$10
Islamic Account
Yes	Yes
Account Currencies
USD EUR GBP CAD AUD NZD SGD	USD
Stock Exchanges
Australian Securities Exchange (ASX) CAC 40 Index France DAX GER 40 Index Dow Jones Euronext FTSE UK Index Hang Seng Hong Kong Stock Exchange Japan Exchange Group London Stock Exchange Nasdaq New York Stock Exchange Russell 2000 S&P 500 SIX Swiss Exchange Toronto Stock Exchange	Dow Jones Euronext Hong Kong Stock Exchange London Stock Exchange Nasdaq New York Stock Exchange S&P 500 Taiwan Stock Exchange
Commodities
Gold Nickel Oil Palladium Platinum Silver Zinc	Copper Gold Natural Gas Oil Palladium Platinum Silver
CFD Trading
Eightcap offers a wide range of trading options with 800+ CFDs across stocks, indices, bonds, commodities, and cryptocurrencies (depending on location), with leverage up to 1:30/1:500. It excels in its tools, notably the AI-enabled economic calendar covering 25+ countries with impact filters (high, medium, low). However, its commodities offering, particularly in softs like cotton and wheat, as well as the limited precious metal and energy assets, is its weakest area.	CFDs are available on a breadth 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
	1:1000
FTSE Spread
1.2	0.8
GBPUSD Spread
0.1	0.8
Oil Spread
0.03	0.8
Stocks Spread
0.03 (Apple Inc)	0.8
Forex Trading
Eightcap offers 50+ currency pairs in line with the industry average but trailing category leaders like CMC Markets with its 300+ currency pairs. However, Eightcap stands out with institutional-level spreads from 0.0 pips on major pairs like the EUR/USD, alongside low $3.50/side commissions. The broker also offers rich forex data to inform trading decisions, including key fundamentals, bullish/bearish indicators and a calendar that tracks key events in the foreign exchange market.	Kwakol Markets offers a wider range of forex pairs than most competitors, with 90+ assets available. Users get fast execution speeds and competitive spreads through the ECN model. On the negative side, not all currency pairs are available on MT4.
GBPUSD Spread
0.1	0.8
EURUSD Spread
0.0	0.8
EURGBP Spread
0.1	0.8
Assets
50+	90+
Currency Indices
USD
Cryptocurrency
Eightcap’s crypto offering is best-in-class with 250+ crypto derivatives, surpassing that of almost every alternative. Testing also reveals Bitcoin spreads of 12 pips, coming in lower than most competitors, while it offers real-time trading ideas through the Crypto Crusher market scanner. Add in convenient deposits and withdrawals in digital currencies, and Eightcap offers the complete package for serious crypto traders.	You can trade cryptos against cryptos, fiat currencies, and even metals like gold. This separates the broker from many alternatives that only offer cryptos paired with the USD. Additionally, with high leverage up to 1:20, Kwakol Markets is a top choice for crypto day traders.
Spread
$12 (BTC)	From 0.8 pips (Standard Account)
Coins
BTC ETH LTC BCH XRP XMR DSH EOS XLM ADA TRX DOGE BNB DOT MATIC VET AXS NEO SOL UNI AAVE KSM THETA CAKE SUSHI ATOM XTZ SNX COMP FLOW EGLD PUNDIX RAY ZIL QTUM BAND OMG FIDA BADGER NEAR ONT KNC SHIB MTL CLV BAT XEM STMX CHR WAVES FTM AUDIO TOMO MRK GRT ENJ CRV RUNE DAWN DODO HOT ZEC 1INCH HBAR AVAX PROM ALPHA LINA CEL SXP SAND CREAM ICP FIL PAXG DENT REN REEF LRC PERP STORJ IOTA ALCX ALGO LINK MANA	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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