Desk file · 2026 edition · record confidence: low
Kwakol Markets
We opened the file on Kwakol Markets the way we open every file: register first, marketing never. Trading since , with no head office we were able to confirm from a primary source, and carrying 1 licence entry on the public record, 0 of them tier-1.
What the two desk scores say
Both are out of 10 and both are computed, not felt.
| Cost score | Priced off the spread basis below, not off a headline rate card. | not verified |
|---|---|---|
| Safety score | Weighted on licence tier and on how many of the entries we could re-read at source. | not verified |
| Cost per 10 lots | Ten round-turn EUR/USD lots priced at the spread basis, commission excluded. | $not verified |
Spread basis. . Nothing on this page is a live quote; a spread printed on a Tuesday afternoon is not the spread you get thirty seconds after a non-farm payroll release.
Licence entries, one row per entity
Every row links to the document we read it from.
| Regulator | Licence no. | Jurisdiction | Tier | Licensed entity | Source |
|---|---|---|---|---|---|
| None verified | None verified | Nigeria (marketing claims US/HK/NG/AU offices) | T3no longer active | Kwakol Markets Limited (company registration) | fca.org.uk |
Which entity actually holds your money is decided at signup, by the country on your application — not by the strongest licence in this table. Read the client agreement you are handed, then match the entity name against the row above.
What we were able to confirm
Confirmed at source
- The UK Financial Conduct Authority publishes a warning entry for 'Kwakol Markets / kwakolmarkets.com', stating the firm may be providing financial services or products in the UK without FCA authorisation.
- Review site GlobeGain reports it found no evidence of a valid licence from recognised authorities and notes earlier ASIC-licence claims appear to have been cancelled.
- Review site ForexBrokersOnline states its checks of official registers found the broker is not currently a member of the US registers (MSB/NFA) its own marketing claims.
- WikiFX lists an ASIC AR (appointed representative) arrangement only, not a direct ASIC licence.
Not verified
The following could not be traced to a primary source at the time of filing. We publish the gap rather than a number that would look tidier:
- legalEntities: no verifiable licence number found for any Kwakol entity (replaced in this batch by reserve broker KVB Kunlun per batch rules; this record kept as low-confidence)
- founded: not verified
- hq: not verified from a primary source
- minDeposit: not verified
- maxLeverage: not verified
- spreadEurusd: not verified
- accountTypes: not verified
- segregatedFunds: not verified
- negativeBalanceProtection: not verified
- publiclyListed: not verified
- accountTypes: not verified from a primary source
| Founded | |
| Head office | not verified |
| Minimum deposit | not verified |
| Leverage cap | |
| EUR/USD | not verified pips |
| Tier-1 entries | 0 |
| Record confidence | low |
Platforms and account types on file
Platforms
Account types
Markets
Other records open on the desk
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A desk file is a record of what the public register said on the day we read it, not a recommendation to open an account.