FAQs

Payment Systems

How do I make a withdrawal if I deposit funds with multiple payment methods?

Kwakol has one important policy related to this question; namely: You can only withdraw funds via the same payment method you used to deposit funds. Therefore, if you use multiple payment methods to deposit, you will need to withdraw using those same payment methods and at the same proportional rate.

Example:If you deposit USD 100 into your trading account using your Naira account and USD 40 into that same trading account with your USD account, future withdrawals on that trading account would have to reflect these proportions; 72% of the total amount available would have to be withdrawn with Naira while the remaining 28% you would have to be Dollar.

What is the minimum amount to trade?

You can start trading on Kwakol with as low as a $10 deposit and enjoy lightning-fast execution, tight spreads, and low commissions.

How can I be sure my payment is safe?

Financial security is of utmost importance here at Kwakol. We take strict measures to make sure that your funds are safe with us.

Let us take a look at how we ensure financial security here at Kwakol:
1. Segregation of client funds: Clients’ funds are stored separated from company funds to ensure that they are protected from events that may affect the company.

2. Verification of transactions: Requesting a withdrawal requires a One-Time-Pin that is sent to the client’s phone or email linked to the account to ensure that the transaction is being requested by the rightful owner.

We also believe transparency is very important to our shared success. Thus, we make sure our clients see all that is done with their individual funds both on the social trading account and the PAMM account.

What should I do if I have made a withdrawal to the wrong account number?

Kwakol Markets has a withdrawal policy that states that for every withdrawal made by a client, the account number must correspond with the client's name.

How long does it take to process a deposit or withdrawal transaction?

Kwakol Markets offers a massive and varied range of payment methods, with many based on the geographic location of your account. As such, the length it takes to process deposits and withdrawals may vary depending on the chosen method for transactions, but it takes between 0-1 Hour to

Can I use my card to deposit?

Yes, you can. We accept deposits from prepaid cards issued by banks and other payment institutions. Note: While using a card to make a deposit make sure it is issued in your name.

Can I make deposits and withdrawals during the weekend and holidays?

Yes, deposits, withdrawals, and transfers are available to use on weekends and holidays. However, as weekends and holidays are not “working days”, expect delays for anything that may require verification.

How do I verify all my payment methods?

For any bank transaction like deposit and withdrawal, you will need to provide both Proof of Identity (POI) and Proof of Residence (POR). To fully verify your Personal Area, log in, and click Complete Verification on your dashboard or go to profile, then verification to be able to also complete all of your verification. Upload your POI and POR documents; once verified, you will be able to transact with any available payment methods (although regional limits still apply).

Is there a limit on the amount I can deposit or withdraw?

At Kwakol we do not place any limitations on the amount you deposit. Total withdrawal made into personal accounts are limited before POI (Proof of Identity), POR (Proof of Residence) completion. On verifying POI and completing EP, this limit is lifted. There are no limits once POR is verified. Certain payment methods have limits on maximum deposits per transaction.

Do I need to deposit real money when trading on a demo account?

The answer is No.

When you register on our platform and you try to create a demo account, you will automatically be given a demo MT4 account with USD 10,000 virtual funds which you can use to practice your hand at trading. Furthermore, you can create additional demo accounts which have a preset balance of USD 500 which can be changed during account creation and even afterwards.

How do I top up a demo account?

Topping up your Demo account is very simple.
‍
1. Log in to your Kwakol Markets account.
2. On the dashboard, go to Trading Accounts
3. Tap the dropdown, go to Demo Accounts.
4. Navigate any accounts by swiping until you’ve found the Demo account you want to top up.
5. Tap Deposit, enter an amount, and click Continue.
6. A message will confirm the action has been completed.

Does Kwakol charge any fee for Deposit & withdrawal?

No, we do not charge fees on a deposit or withdrawal action. However, certain Electronic Payment Systems (EPS) like our card payment method have their own transaction fees so it is always best to know more about our payment systems to avoid any surprises.

Where can I check the status of my transactions?

A record of all transactions, including deposits, withdrawals and internal transfers are available on “Recent transactions” a widget on your dashboard.
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1. Log in to your Kwakol Markets account.
2. Click on History from your dashboard to be taken to an exhaustive list of completed and pending transactions.
3. Identify the transaction you wish to check; look for the transaction type from the list at the top either a Deposit, withdrawal or even a transfer, date and payment methods to help you.
4. Under Status you will see the transaction’s status: Done, Processing, Rejected.
5. You can click on the transaction to bring up a summary of all the transaction details.

Can I withdraw using a different payment method?

Unfortunately, this is not possible. One of the basic rules of using payments at Kwakol is using the same payment method for both deposit and withdrawal. This is done to ensure that funds are withdrawn to the legitimate account holder. If you are unable to use the payment method you used at deposit due to some technical difficulties, please contact your account manager or you can also contact the Help Centre.

How do I deposit money?

To make a deposit on our platform, go to our deposit page then simply click on the Bank Transfer icon to deposit in USD. Make the bank transfer to the bank account details displayed. If you are making a bank transfer in US dollars, be sure to be in your USD wallet or if you are making the transfer in Naira, be sure to be in your Naira wallet. Fill out the amount you would like to deposit, upload a proof of a successful transaction receipt, and click “Proceed”. The deposited amount will appear in your Kwakol wallet balance and on your transaction history.

How do I withdraw funds?

To withdraw funds on our platform, all you have to do is login in your account then go to “Funds”. under funds go to withdrawal, click on the right wallet you will want to withdraw from. fill out your bank details and send in your withdrawal request by clicking on “Proceed”. Withdrawal made into personal accounts are limited before POI (Proof of Identity) and POR (Proof of Residence) completion.

Can I still withdraw if I have open positions?

Yes, you can.

Free margin shown in your Personal Area is a ‘floating’ amount (constantly changing) of funds which can be withdrawn at any given moment. However it’s not encouraged to withdraw with open positions, as there is a possibility that your Free Margin drops enough to impact open positions, unintentionally closing them due to Stop Out.

We recommend further reading about how to calculate margins; then you’re better able to plan your withdrawals so they don’t unintentionally impact your Free Margin.

Trading System

What is a Limit Order?

A Limit Order is a type of Pending Order set in a direction opposite to what is profitable, in order to increase profits.The types of Limit Orders are:

To Open:
- Buy Limit: to buy at a price lower than the current ask price.
- Sell Limit: to sell at a price higher than the current bid price.

To Close:
- Take Profit: to close a profitable position.

How do I place a limit order?

1. Log into MT4/MT5.
2. Open a new order by double-clicking your chosen instrument.
3. Change Order Type to Pending Order.
4. Select Buy Limit or Sell Limit from the revealed area under Type.
5. Set the requested price, ensuring it stays within valid parameters in case of an invalid SL/TP message.
6. Your Limit Order is now set.

How do I check my trading history?

On Kwakol Markets, there are multiple ways to access your trading history. Let’s show you the different ways you can see all trading history.

‍From the Kwakol Markets Trader’s room:
1. Sign into your dashboard,
2. Go to history,
3. Go to analytics.
4. Under analytics you will be able to see all your trading history from Open Positions to All Deals to Pending Orders.

‍Desktop Terminal: If using MT4 or MT5 desktop terminals, you can access trading history from the Account History Tab.

‍Mobile Terminal: If using MetaTrader mobile applications, you can check the history of the trades performed on the mobile device by clicking on the History tab.

Does Kwakol Markets offer trading signals?

Yes here at Kwakol Markets, we send daily signals to our clients and prospective leads. To be able to access our daily signals, you will need to be on our telegram group or be subscribed to our daily emails.

Can I trade during the weekend?

The trading hours of most instruments offered are completely closed during weekends so it is not possible to trade. However, Cryptocurrencies are an instrument group that continues to be traded on weekends. This means it is possible to trade during the weekend but only instruments from the Cryptocurrencies group.

Can a friend/family member trade for me?

Yes! So someone that has your login details can actually trade for you but we strongly recommend you do not share your trading account or trader’s room credentials with anyone. Trading performed by anyone other than you, can bring unexpected results.

Is Kwakol regulated?

Kwakol Markets is an authorized Finance company by Australia Security and Investment Commission (ASIC) with an Australian Financial Services number 001295040 & 656656665

Kwakol Markets also has a Foreign Exchange dealer License issued by FINTRAC Money Services Canada; the registration number is M22600427

- Kwakol Markets is a wholly-owned enterprise which has an MSB (money services business) license issued by the U.S. financial system and NFA license issued by NFA (National Futures Association). MSB number: 31000193938311. NFA ID number: 0541103.
- Kwakol Markets (USA) Ltd with registered address 652 57th St 2F Brooklyn, New York, USA
- Kwakol Markets (HK) Ltd with registered address unit No. A222, 3F, Hang Fung, Industrial Building, Phase 2, No.2G, Hok Yuen street, Hunghom, Hong Kong.
- Kwakol Markets (NGN) Ltd with registered address 1st floor, Mall169, Adetokunbo Ademola Crescent, Wuse ll, Abuja.
- Kwakol Markets (AU) PTY Ltd with registered address 220 350 Victoria St Richmond VIC 3121

How do I verify all my payment methods?

Is something not working?

I can't register on the Kwakol Markets platform.

To register on our platform, all you need is a valid email address and a working phone number from the country of residence chosen. To begin with, you will only be required to enter an email address, phone number and also create a password for your account.

When setting up your account, you might be faced with the following challenges.

‍Email is already connected to an account: If you see this error, this email address has already been used to register on our Kwakol platform and cannot be used again.

To Fix this, you either try to recover the password of your account if forgotten or use another email address to sign up.

‍Invalid email address: Make sure you have entered your email address correctly and completely without any additional spaces or characters that may have been entered unintentionally.

We hope you find this information useful. If the issue still persists, do not hesitate to contact our Support Team for further assistance.

‍Wrong Phone Number: If you see this error, the phone number you entered does not match the country code and therefore it is invalid. To fix this, you should make sure your country code tally with the phone number provided.

I'm unable to set up a password during registration

The basic requirements for you to keep in mind while setting up your Personal Area (PA) password are:

- Must contain 6-12 characters
- Must contain both uppercase and lowercase letters (example of uppercase letters - A,Z; example of lowercase letters - a,z)
- Must contain a combination of numbers and English letters (example - 123Happy)
- Must not contain any special characters (example of special characters - @,*)

The website has a helpful colour coding feature for you to identify which requirements are being met and which aren’t. If your password meets all the requirements but you are still unable to Continue, kindly contact our friendly Support Team with a screenshot of the error page.

Why has my deposit/withdrawal been rejected?

1. Log in to your Dashboard.
2. Go to Transaction History.
3. Find the transaction that has been rejected and hover your mouse over the ‘Rejected’ status.
4. You will be able to see the rejection reason in a small pop-up.

A few reasons why your transactions may be getting rejected are:
1. Making transactions to/from an account that isn’t on the account holder’s name.
2. Withdrawing in a proportion greater than deposited, for a particular payment system.
3. Insufficient funds to complete the transaction.
4. Withdrawal method must be the same deposit method e.g You will have to withdraw in Naira if you made the deposit in Naira, if not withdrawal would be rejected.

How to clear your browser’s cache and cookies

For when you may have to troubleshoot network issues, or browser-related problems it can be helpful to clear your browser’s cache and cookies; read on for a handy guide to clearing your browser’s cache and cookies.

Be aware that by clearing your browsing data, you may lose the following;
- Saved Password
- Address bar autocomplete
- Auto-login saved data
‍
‍Desktop Browsers

Windows
Google Chrome:
1. On your computer, open Chrome.
2. Click on Customize and Control on the top right (shown as 3 vertical dots).
3. Select History, and select History again from the list.
4. Click on Clear browsing data.
5. Select All time for the time range, tick Cookies and other site data and Cached images and files.
a. You do not need to clear your browsing history.
b. If you clear Cookies and other site data, you will be signed out of most websites requiring your credentials to log back in.
6. Select Clear data, and then restart Chrome.

‍Firefox:
1. Click on Menu on the top right (shown as 3 bars) and choose Options.
2. Select Privacy & Security.
3. Under the Cookies and Site Data header, click Clear Data.
4. Select Cookies and Site Data and Cached Web Content then click Clear; you will need to click Clear Now to confirm.
a. Clearing all cookies and site data will log you out of any websites and you will need to log in again with your credentials.
5. Restart Firefox.

‍Microsoft Edge:
1. Open Edge.
2. Click the settings icon (top right, shown as 3 horizontal dots) and select Settings.
3. Select Privacy, search, and services and click Choose what to clear.
4. Choose All time from the dropdown, ensuring only Cookies and other site data and Cached images and files are selected; then click Clear now.
a. If you are logged in with a Microsoft account, this will clear data from all devices logged in with that account. Sign out first if you only wish to clear data from this device.
5. Exit all browser windows and re-open the browser.

‍Opera:
‍1. Open Opera.
2. Select the cog icon from the left-hand menu to open Settings.
3. Under Privacy and security, click Clear browsing data.Select All Time from the Time range, and have Cookies and other site data and Cached images and files selected; then click Clear data.Exit all browser windows and re-open the browser.
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‍‍Mac
Safari:
‍1. Open Safari.
2. Click on Safari on the top left, then open Preferences.
3. Select Advanced from the tabs, and then tick the box Show Develop menu in menu bar; close Preferences.
4. Select Develop in the safari menu and select Empty Caches.
5. Next, click on Safari on the top left, then open Preferences.
6. This time, select Privacy > Manage Website Data and then Remove All; click Remove Now to complete.
a. If you remove website data, you will need to log back in to the site with your credentials.

‍Safari 8 and older:
1. Click on Safari, to open the menu and select Clear History... or Clear History and Website Data....
2. Select the maximum time range, and then click Clear History.
3. Go to Safari > Quit Safari or press Command-Q to exit the browser completely.
4. Re-open browser.
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‍Mobile Browsers

Android
Chrome:
1. On your Android phone or tablet, open the Chrome app.
2. Tap on More on the top right (shown as 3 vertical dots).
3. Select History and tap on Clear browsing data.
4. Select All time as the time range.
5. Tick the Cookies and site data and Cached images and files.
6. Tap on Clear data.
7. Restart Chrome.

‍Other browsers:
‍Steps may vary depending on your iteration of the Android OS.

1. Go to Settings and choose Apps or Application Manager.
2. Ensure it displays All applications.
3. In the list of installed apps, find and tap your web browser. Tap Clear Cache.
4. Exit/quit all browser windows and re-open the browser.

‍iOS
‍
Safari:
1. Open your Settings > Safari.
2. Scroll all the way down and select Clear History and Website Data.
3. Tap Clear History and Data and confirm.
4. Exit/quit all browser windows and re-open the browser.

Now that you can clear your browser’s cache and cookies, perhaps if you come across a login problem, you should consider clearing your browser cache.

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Payment Systems

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