Kwakol Markets vs OANDA US

Kwakol Markets vs OANDA US Comparison Table 2023
Kwakol Markets Review 2023 OANDA US Review 2023
4.5

Kwakol Markets is #1 in our CFD broker rankings.

4.5

OANDA US is #4 in our 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 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.

OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available, alongside flexible contract sizes and automated trade executions.

CFDs are not available to residents in the United States.
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." "We recommend OANDA for US traders seeking a user-friendly platform with premium market research and a straightforward joining process. OANDA is a particularly good pick if you want a heavily regulated broker with a secure trading environment."
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
  • Industry-leading platforms including MT4 and TradingView
  • The OANDA web platform offers advanced price charts and graphs
  • Reliable, trustworthy and secure brand with authorization from tier-one regulators
  • API facilitates access to 25 years of historical data and rates from 200+ currencies
  • Feature-rich app with 50 indicators, 11 drawing tools and 9 charting styles
  • Wide selection of instruments including 68 forex pairs
  • Transparent pricing structure with no hidden charges
  • Low minimum deposit for beginners
  • US clients accepted
Cons
  • Regional restrictions in certain countries
  • Lack of deposit and withdrawal methods
  • High deposits for premium features
  • The only base currency is USD
  • Customer support not available on the weekend
Awards
  • Best Broker Africa 2022 - UF Awards
  • Most Trusted Broker Nigeria 2022 - UF Awards
  • Best Emerging Broker 2022 - - UF Awards
  • Best US Broker 2023 - DayTrading.com
  • Best Trading Tools winner 2021 - Online Personal Wealth Awards
  • Awarded highest overall client satisfaction 2021 - Investment Trends US Leverage Trading Report, Margin Forex
  • Awarded highest client satisfaction for mobile platform/app 2021 - Investment Trends US Leverage Trading Report, Margin Forex
  • Voted Most Popular Broker 2021 - TradingView Broker Awards
  • Voted Best Forex and CFD Broker 2021 - TradingView Broker Awards
Instruments
CFDs, Forex, Stocks, Indices, Commodities, Crypto Forex, Crypto
Demo Account
Yes Yes
Minimum Deposit
$1 $0
Trading Platforms
  • MT4
  • MT5
  • AutoChartist
  • MT4
  • TradingView
  • AutoChartist
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
ASIC, FINTRAC NFA, CFTC
Margin Trading
Yes Yes
Margin Rate
2%
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 No
Market Maker
No Yes
P2P Trading
No No
Spot Trading
No Yes
Mobile Apps
iOS & Android iOS, Android + Web Trader
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 No
Tournaments
Yes No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$10 $0
Islamic Account
Yes No
Account Currencies
  • USD
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
  • HKD
  • SGD
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. CFD trading not offered
Leverage
1:1000 1:50
FTSE Spread
From 0.8 pips (Standard Account)
GBPUSD Spread
From 0.8 pips (Standard Account)
Oil Spread
From 0.8 pips (Standard Account)
Stocks Spread
From 0.8 pips (Standard Account)
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. OANDA offers 68 forex pairs, more than many alternatives. The broker's in-house platform also offers impressive execution speeds and a suite of advanced charting and analysis tools.
Forex App

The FxTrade app is OANDA’s proprietary forex trading application. One-click trading, historical price history and straightforward account management is available. Traders can speculate on 68 major, minor and exotic currency pairs. The forex app is available to download from the Apple App Store and Google Play.

GBPUSD Spread
From 0.8 pips (Standard Account) 3.4
EURUSD Spread
From 0.8 pips (Standard Account) 1.6
EURGBP Spread
From 0.8 pips (Standard Account) 1.7
Assets
90+ 65+
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. Speculate on the world's biggest cryptos by market cap. Commissions are lower than many peers starting at 0.25%. Clients can spot trade cryptocurrencies on Paxos's itBit exchange through the OANDA platform via OANDA’s partnership with Paxos. Users can trade digital currencies in a few taps through the iOS and Android mobile app.
Spread
From 0.8 pips (Standard Account) $100
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • XRP
  • BNB
  • BTC
  • ETH
  • LTC
  • BCH
  • PAXG
  • LINK
  • UNI
  • AAVE
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
CFDs are not available to residents in the United States.
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