Kwakol Markets vs AZAforex

Kwakol Markets vs AZAforex Comparison Table 2024
Kwakol Markets AZAforex
0.8

Kwakol Markets is #13 in our CFD broker rankings.

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.
2

AZAforex is #8 in our binary options broker rankings.

United States Flag Traders from US accepted
United States Flag Traders from US accepted

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.

AZAforex is a multi-asset broker founded in 2016. The brand offers a sophisticated proprietary platform, ECN trading and 40+ deposit methods. The brokerage has 120,000+ registered customers with copy trading and a VPS.

Comment by Reviewer
"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." "AZAforex is best for active forex traders looking for ECN pricing with high leverage up to 1:1000 and a sophisticated trading platform."
Pros
  • 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
  • Range of crypto, e-wallet, credit/debit card and wire transfer options
  • 16 fiat and 6 crypto account base currencies
  • Loyalty bonuses and rebate program
  • Low minimum deposit of $1
  • Very high leverage up to 1:1000
  • Copy trading and PAMM account
  • Free VPS for VIP accounts
  • Demo account available
Cons
  • 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
  • Unregulated broker reduces its safety score
  • Withdrawal fees for some payment methods
  • Limited educational content and resources
  • Some poor customer reviews
  • No MetaTrader access
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, Crypto CFDs, Forex, Stocks, Cryptos, Commodities
Demo Account
Yes Yes
Minimum Deposit
$1 $1
Trading Platforms
  • MT4
  • MT5
  • cTrader
  • AutoChartist
  • Own
Payment Methods
Minimum Trade
0.01 Lots 0.00001 Lots
Regulator
ASIC, FINTRAC
Margin Trading
Yes Yes
STP Account
Yes No
ECN Account
Yes Yes
DMA Account
No 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
No No
Mobile Apps
iOS & Android iOS & Android
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes No
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
No No
VPS Hosting
No Yes
Tournaments
Yes No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$10
Islamic Account
Yes Yes
Account Currencies
  • USD
  • USD
  • THB
  • VND
  • UAH
Stock Exchanges
Commodities
CFD Trading
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. Trade 200+ CFDs with leverage up to 1:1000 on a powerful proprietary platform. Asset classes include stocks, forex and crypto with ECN execution. You can bet on rising and falling prices with leveraged CFDs.
Leverage
1:1000 1:1000
FTSE Spread
0.8 Variable
GBPUSD Spread
0.8 Variable
Oil Spread
0.8 Variable
Stocks Spread
0.8 Variable
Forex Trading
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. Trade 49 major, minor and exotic currency pairs with fixed spreads or ECN pricing with no dealing desk intervention and a low starting deposit. You can analyze the currency markets using the broker's in-house trading platform.
GBPUSD Spread
0.8 Variable
EURUSD Spread
0.8 Variable
EURGBP Spread
0.8 Variable
Assets
90+ 72
Cryptocurrency
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. Invest in 10 popular cryptos such as Bitcoin and Ethereum. A choice of six crypto account base currencies are available plus a welcome bonus for new traders.
Spread
From 0.8 pips (Standard Account) Variable
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • XRP
  • BNB
  • BTC
  • BCH
  • DASH
  • ETH
  • LTC
  • USDC
  • USDT
  • XMR
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Binary Options
Binary options trading not offered AZAforex offers binary options with time-dependent payouts that can be taken out on any asset included as a CFD or spot instrument. Over 50 binary options are available with a $1 minimum stake and payouts up to 190%.
Payout
190%
Ladder Options
No No
Boundary Options
No No
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