Kwakol Markets vs iFOREX

Kwakol Markets or iFOREX – which is better for UK traders 2024? Compare Kwakol Markets and iFOREX in this detailed breakdown of their platforms, features and fees.

Kwakol Markets vs iFOREX Comparison Table 2024
Kwakol Markets iFOREX
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0.8
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1.5
Kwakol Markets is ranked #53 among CFD brokers. iFOREX is ranked #97 among CFD brokers.
Review
Review
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.
Kwakol Markets is a Nigerian headquartered broker with strong regulatory oversight in Australia and Canada. A great selection of 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.
iFOREX has closed or no longer accepts UK clients.
iFOREX is a multi-regulated forex & CFD broker with millions of clients worldwide
Pros
  • Kwakol Markets offers a comprehensive charting environment for active 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
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
Awards
  • Best Broker Africa 2022 - UF Awards
  • Most Trusted Broker Nigeria 2022 - UF Awards
  • Best Emerging Broker 2022 - - UF Awards
FCA Regulated
No

List of FCA Regulated Brokers

Yes
Instruments
CFDs, Forex, Stocks, Indices, Commodities, Crypto Forex, CFDs, indices, shares, commodities, cryptocurrencies, ETFs
Demo Account
Yes Yes
Minimum Deposit
£250 $100
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
ASIC, FINTRAC CySEC, FCA, BVI
Mobile Apps
iOS & Android Yes
iOS App Rating
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Android App Rating
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Margin Trading
Yes No
MetaTrader 4
Yes No
MetaTrader 5
Yes No
cTrader
Yes No
AlgoTrader
No No
OmniTrader
No No
TradingView
No No
Autochartist
Yes No
eSignal
No No
Trading Central
No No
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 No
P2P Trading
No No
Spot Trading
No No
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
Trade Signals
Yes
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
Islamic Account
Yes Yes
Account Currencies
  • USD
Commodities
  • Gold
  • Silver
  • Copper
  • Platinum
  • Palladium
  • Oil
  • Natural Gas
  • Gold
CFD
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. iFOREX offers hundreds of CFDs on FX, indices, shares, commodities, and cryptocurrencies
Leverage
1:1000 1:30
FTSE Spread
0.8 2.4
GBPUSD Spread<
0.8 2.8
Oil Spread
0.8 5.4 pips
Stocks Spread
0.8 Variable
Forex
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. iFOREX offers trading on approaching 100 currencies from around the world
Assets
90+ 90
GBPUSD Spread
0.8 1.8
EURUSD Spread
0.8 1.8
EURGBP Spread
0.8 2.8
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 traders. iFOREX offers trading on popular cryptocurrency coins
Spread
From 0.8 pips (Standard Account) Variable
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • XRP
  • BNB
  • BTC
  • LTC
  • ETH
  • XRP
  • EOS
  • XMR
  • DASH
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Kwakol Markets iFOREX
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