Kwakol Markets vs ThinkMarkets

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

Kwakol Markets is #1 in our CFD broker rankings.

4
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.

ThinkMarkets is a reputable CFD and forex broker with regulation from several top-tier bodies including the FCA and ASIC. Traders can use a bespoke platform, MT4 or MT5 to access a wide variety of assets including 3500+ stocks and ETFs, 46 forex pairs and over 20 cryptocurrencies. Fees are competitive, particularly for the ThinkZero account with spreads starting at zero.

71.89% of retail investor accounts lose money when trading CFDs with this provider.
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." "ThinkMarkets is a reliable, multi-regulated broker that will suit most CFD traders thanks to its large asset list, competitive fees and excellent platform options."
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
  • Low fees with competitive spreads on the commission-free account and very tight spreads and a low $3.5 commission on ThinkZero
  • Unique Traders' Gym simulation tool for testing out strategies on real historical data, with multiple timeframes and custom features
  • In-depth educational resources for beginner, intermediate and advanced level traders, plus live webinars
  • Three stable and award-winning platforms plus seamless integration with the broker's Signal Centre
  • Top-tier regulation from the FCA, ASIC and CySEC plus offshore branches with high leverage
  • Free VPS hosting available for MT4 and MT5, ideal for traders using Expert Advisors (EAs)
  • Reliable 24/7 multilingual support via telephone, email or live chat
  • Quick and easy to open a ThinkMarkets account
Cons
  • Regional restrictions in certain countries
  • Lack of deposit and withdrawal methods
  • High deposits for premium features
  • The only base currency is USD
  • $500 minimum deposit for ThinkZero account
  • Not many payment methods available for UK traders
  • Limited bonus offers, refer-a-friend schemes or trading competitions
Awards
  • Best Broker Africa 2022 - UF Awards
  • Most Trusted Broker Nigeria 2022 - UF Awards
  • Best Emerging Broker 2022 - - UF Awards
  • Best CFD Provider 2021 - City of London Wealth Management Awards (COLWMA)
  • Best Value Broker in Asia at the 2020 - Global Forex Awards
  • Best Forex Trading Experience 2017 - UK Forex Awards
  • Best Forex Trading Innovation 2017 - UK Forex Awards
  • Best Customer Service 2013 - UK Forex Awards
Instruments
CFDs, Forex, Stocks, Indices, Commodities, Crypto CFDs, Forex, Stocks, ETFs, Futures, Commodities, Crypto, Spread Betting (UK Only)
Demo Account
Yes Yes
Minimum Deposit
$1 $0
Trading Platforms
  • MT4
  • MT5
  • AutoChartist
  • ThinkTrader
  • MT4
  • MT5
  • AutoChartist
  • TradingCentral
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
ASIC, FINTRAC FCA, ASIC, CySEC, FSCA, JFSA, FSA Seychelles
Margin Trading
Yes Yes
STP Account
Yes Yes
ECN Account
Yes No
DMA Account
No No
MAM Account
No No
PAMM Account
No Yes
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 Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes Yes
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. The Signal Centre is FCA-regulated and offers insights into forex, stocks, indices, commodities, and cryptocurrencies. Users can receive up to 40 signals before the trading day starts to plan setups.
Social Trading
No Yes
Trade Signals
Signal Centre
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 $0
Islamic Account
Yes Yes
Account Currencies
  • USD
  • USD
  • EUR
  • GBP
  • AUD
  • JPY
  • CHF
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. ThinkMarkets offers CFDs on a good range of instruments, the most extensive being stocks and ETFs with 3500+ assets, as well as indices and commodities, amongst others. Leverage is available up to 1:30 in the EU and UK, while clients of the offshore branch can access up to 1:500 leverage.
Leverage
1:1000 1:500
FTSE Spread
From 0.8 pips (Standard Account) 0.7
GBPUSD Spread
From 0.8 pips (Standard Account) 0.4
Oil Spread
From 0.8 pips (Standard Account) 0.03
Stocks Spread
From 0.8 pips (Standard Account) From 0.4
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. ThinkMarkets offers 46 forex pairs, including a decent variety of minors and exotics as well the majors. Forex traders also benefit from very tight spreads starting from 0.0 pips for the EUR/USD in the Zero account.
GBPUSD Spread
From 0.8 pips (Standard Account) 0.3
EURUSD Spread
From 0.8 pips (Standard Account) 0.0
EURGBP Spread
From 0.8 pips (Standard Account) 0.0
Assets
90+ 45+
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. With 20+ cryptocurrencies available to trade via CFDs, traders can securely speculate on crypto markets with up to 1:10 leverage. ThinkMarkets does not directly trade crypto assets, meaning you will not own the tokens, and crypto trading is not available in some jurisdictions.
Spread
From 0.8 pips (Standard Account) BTC 25, ETH 6 (Variable)
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • XRP
  • BNB
  • BCH
  • LTC
  • XMR
  • DOGE
  • XLM
  • BTC
  • ETH
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
71.89% of retail investor accounts lose money when trading CFDs with this provider.
More Comparisons
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