Kwakol Markets vs LMFX

Kwakol Markets vs LMFX Comparison Table 2023
Kwakol Markets Review 2023 LMFX Review 2023
4.5

Kwakol Markets is #1 in our CFD broker rankings.

2.8
United States Flag Traders from US accepted
United States Flag Traders from US not accepted

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.

LMFX is an offshore CFD and forex broker with flexible account options that support trading with fixed or floating spreads, including a raw spread account with super tight pricing. The assets on offer include forex, stocks, indices and commodities, and very high leverage up to 1:1000 is available. The broker is based in Macedonia and was established in 2017.

Bonus Offer
100% deposit bonus up to $30,000
Comment by Reviewer
"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." "Experienced traders who want highly leveraged CFDs and a choice between fixed and floating spreads should consider LMFX. On the downside, new clients should note the weak regulatory oversight."
Pros
  • 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
  • Excellent, flexible pricing options with raw and fixed spreads available
  • Personal account manager available with Premium and Fixed accounts
  • High leverage up to 1:1000, 1:400 or 1:250 depending on the account
  • The world-leading MetaTrader 4 platform and app is available
  • VPS will cater to automated trading strategies
  • Bonuses, contests and awards
  • Zero deposit fees
Cons
  • Regional restrictions in certain countries
  • Lack of deposit and withdrawal methods
  • High deposits for premium features
  • The only base currency is USD
  • Limited educational resources for newer traders
  • Unregulated status lowers its safety score
  • No cryptocurrency and Bitcoin trading
  • No support on weekends
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 Forex, CFDs, indices, shares, commodities
Demo Account
Yes Yes
Minimum Deposit
$1 $50
Trading Platforms
  • MT4
  • MT5
  • AutoChartist
  • MT4
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
ASIC, FINTRAC
Margin Trading
Yes Yes
STP Account
Yes No
ECN Account
Yes No
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 Yes
Mobile Apps
iOS & Android Yes
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes No
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
VPS Hosting
No Yes
Tournaments
Yes No
Demo Competitions
No Yes
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$10
Islamic Account
Yes No
Account Currencies
  • USD
  • USD
  • EUR
Stock Exchanges
Commodities
CFD Trading
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. Trade CFDs on forex, stocks, indices, commodities, metals and oil. Variable leverage is available depending on the account type up to a maximum of 1:1000, and traders can take part in various promotions.
Leverage
1:1000 1:1000
FTSE Spread
From 0.8 pips (Standard Account) 3.0
GBPUSD Spread
From 0.8 pips (Standard Account) 2.5
Oil Spread
From 0.8 pips (Standard Account) 0.7
Stocks Spread
From 0.8 pips (Standard Account) Variable
Forex Trading
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. Trade 46 major, minor and exotic pairs via CFDs with tight spreads, low latency and VPS support for automated trading strategies. This will appeal to active forex day traders in particular.
GBPUSD Spread
From 0.8 pips (Standard Account) 2.3
EURUSD Spread
From 0.8 pips (Standard Account) 1.9
EURGBP Spread
From 0.8 pips (Standard Account) 2.2
Assets
90+ 48
Cryptocurrency
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. Crypto trading not offered
Spread
From 0.8 pips (Standard Account)
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • XRP
  • BNB
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
More Comparisons
Kwakol Markets
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LMFX
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