Kwakol Markets vs Plus500

Kwakol Markets vs Plus500 Comparison Table 2023
Kwakol Markets Review 2023 Plus500 Review 2023
4.5

Kwakol Markets is #1 in our CFD broker rankings.

4.1
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.

Plus500 is a leading global broker with millions of registered traders and multiple awards. The company specializes in CFDs on its intuitive, proprietary platform and app. The broker holds multiple licenses from reputable regulators, including in the UK, Europe and Australia.

82% of retail CFD accounts lose money.
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." "Plus500 is a great option for CFD traders seeking a trustworthy broker with extensive market access, low fees and a reliable trading platform."
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
  • No commissions and tight spreads on over 2,800 instruments across forex, shares, indices, commodities, options and ETFs
  • Premium service for professional traders with added benefits including external webinars, expert analysis and a dedicated client manager
  • ESG investing opportunities through a range of equities and indices, including the Global Warming Reduction Index
  • Unique +Insights feature offering real-time trading analysis to uncover trends and market sentiment
  • Excellent reputation with 24 million clients worldwide and licensed in multiple jurisdictions
  • Reliable 24/7 customer support via email, telephone, live chat and WhatsApp
  • Excellent risk management tools including guaranteed stop loss orders
  • Authorized by tier-one regulators including the FCA
Cons
  • Regional restrictions in certain countries
  • Lack of deposit and withdrawal methods
  • High deposits for premium features
  • The only base currency is USD
  • No MetaTrader 4 integration
  • $10 monthly inactivity fee
  • No copy trading
Awards
  • Best Broker Africa 2022 - UF Awards
  • Most Trusted Broker Nigeria 2022 - UF Awards
  • Best Emerging Broker 2022 - - UF Awards
  • Best Overall Broker 2021 - DayTrading.com
  • Best Overall Broker 2020 - DayTrading.com
  • Best Overall Broker 2019 - DayTrading.com
Instruments
CFDs, Forex, Stocks, Indices, Commodities, Crypto CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options
Demo Account
Yes Yes
Minimum Deposit
$1 $100
Trading Platforms
  • MT4
  • MT5
  • AutoChartist
  • Own
Payment Methods
Minimum Trade
0.01 Lots Variable
Regulator
ASIC, FINTRAC FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA
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 Yes
P2P Trading
No No
Spot Trading
No No
Mobile Apps
iOS & Android iOS, Android and Windows
Auto Trading
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 Yes
Custodial Account
No No
Guaranteed Stop Loss
No Yes
Inactivity Fee
$10 $10
Islamic Account
Yes No
Account Currencies
  • USD
  • USD
  • EUR
  • GBP
  • AUD
  • ZAR
  • CZK
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. Commission-free CFDs span an excellent range of markets. Traders can go long or short on popular assets with variable leverage and competitive spreads.
Leverage
1:1000 1:30
FTSE Spread
From 0.8 pips (Standard Account) 1.8
GBPUSD Spread
From 0.8 pips (Standard Account) 1.1
Oil Spread
From 0.8 pips (Standard Account) 0.04
Stocks Spread
From 0.8 pips (Standard Account) 0.08
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. Plus500 offers forex trading via CFDs with tight, variable spreads and an impressive range of over 70 currency pairs.
Forex App

Plus500 have developed their mobile apps to match the WebTrader online platform . Secure, reliable and uncomplicated, the app is among the best out there. Stop loss and limits are available, free alerts and a full range of markets and instruments are available. Visit the download page here.

GBPUSD Spread
From 0.8 pips (Standard Account) 1.1
EURUSD Spread
From 0.8 pips (Standard Account) 0.6
EURGBP Spread
From 0.8 pips (Standard Account) 1.4
Assets
90+ 70+
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) Variable
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • XRP
  • BNB
  • BCH
  • BTC
  • ETH
  • LTC
  • XRP
  • IOTA
  • NEO
  • EOS
  • XMR
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
82% of retail CFD accounts lose money.
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