Kwakol Markets vs Fortrade
Kwakol Markets or Fortrade – which is better for UK traders 2024? Compare Kwakol Markets and Fortrade in this detailed breakdown of their platforms, features and fees.
| Kwakol Markets | Fortrade |
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| Kwakol Markets is ranked #49 among CFD brokers. | Fortrade is ranked #70 among CFD brokers. |
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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. |
Fortrade is a multi-asset, multi-regulated broker with branches regulated by the FCA, CySEC and ASIC among others. The brand offers trading opportunities on a wide range of instruments including stocks, bonds, commodities, forex, indices, cryptocurrencies and ETFs, with competitive fees and support for MetaTrader 4 and a proprietary platform. |
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| Cons | |
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| Awards | |
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| FCA Regulated | |
| No | Yes |
| Instruments | |
| CFDs, Forex, Stocks, Indices, Commodities, Crypto | Forex, CFDs, indices, shares, commodities, cryptocurrencies, DMAs, ETFs, bonds |
| Demo Account | |
| Yes | Yes |
| Minimum Deposit | |
| £250 | $100 |
| Payment Methods | |
| Minimum Trade | |
| 0.01 Lots | 0.01 Lots |
| Regulator | |
| ASIC, FINTRAC | FCA, ASIC, CySEC, NBRB, FSC, CIRO |
| Mobile Apps | |
| iOS & Android | iOS & Android |
| Trading App | |
The Fortrader mobile app can be used to trade 60+ currency pairs. Clients can also access daily market insights and manage deposits and withdrawals via the application. The forex trading app is available from the Apple App Store and Google Play. |
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| iOS App Rating | |
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| Android App Rating | |
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| Margin Trading | |
| Yes | Yes |
| MetaTrader 4 | |
| Yes | Yes |
| 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 | Yes |
| STP Account | |
| Yes | No |
| ECN Account | |
| Yes | Yes |
| DMA Account | |
| No | Yes |
| MAM Account | |
| No | Yes |
| 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 |
| Auto Trading | |
| Expert Advisors (EAs) on MetaTrader | 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 | $10 |
| Islamic Account | |
| Yes | Yes |
| Account Currencies | |
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| Commodities | |
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| 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. | Fortrade's list of leveraged CFDs covers a wide range of asset classes including forex, stocks, bonds, indices, commodities and cryptocurrencies. Traders can access leverage up to 1:30 and will trade with zero commission, fast execution and low latency on MetaTrader 4 or the bespoke platform. |
| Leverage | |
| 1:1000 | 1:30 (varies by entity) |
| FTSE Spread | |
| 0.8 | 2 |
| GBPUSD Spread< | |
| 0.8 | 2 |
| Oil Spread | |
| 0.8 | 0.04 |
| 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. | Fortrade offers 60+ currency pairs including a good selection of majors, minors and exotics. Trading takes place via MT4 or Fortrade's proprietary, low-latency terminal, and spreads on the USD/GBP pair average a reasonable 2 pips. |
| Assets | |
| 90+ | 60+ |
| GBPUSD Spread | |
| 0.8 | 2 |
| EURUSD Spread | |
| 0.8 | 2 |
| EURGBP Spread | |
| 0.8 | 3 |
| 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. | Fortrade offers CFD trading on the largest cryptos by market cap paired with USD. Crypto CFD availability depends on local regulations and they are not offered in jurisdictions including the UK due to restrictions. |
| Spread | |
| From 0.8 pips (Standard Account) | Variable |
| Coins | |
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| Crypto Lending | |
| No | No |
| Crypto Mining | |
| No | No |
| Crypto Staking | |
| No | No |
| Auto Market Maker | |
| No | No |
| Kwakol Markets | Fortrade |
| More Comparisons | |
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Kwakol Markets vs |
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