From Africa to the world: Interview with multi-regulated broker Kwakol Markets CEO

Rick Steves

“Beyond just wanting to create a truly African brand with a global reach, we believe that we are best positioned to meet the unique needs of traders…”

Kwakol Markets has emerged as a serious challenger to the established FX and CFD brokerage industry, including in highly regulated jurisdictions across the globe.

The Nigeria-headquartered multi-asset broker is a proud African enterprise and aims to capitalize on the uniqueness of its brand as it quickly expands its regulated business into new markets, including Europe, Australia, Hong Kong, Canada, and of course, Nigeria.

We met Dr. Yakubu Ishaku Teri M.D. (he has a degree in medicine), Founder and CEO of Kwakol Markets, and spoke about the firm’s mission, background, plans, and product offering.

Africa is not the typical headquarters of a global brokerage firm. Is Kwakol Markets making a stand?

That’s a factual assessment of the global landscape of trading in particular and also finance in general. We recognize that this has significant implications for the service that traders get from these traditional brokerage firms. Beyond just wanting to create a truly African brand with a global reach, we believe that we are best positioned to meet the unique needs of traders and tackle their pressing pain points that other brokers may overlook.

What is the story behind the launch of Kwakol Markets?

One of the primary motivations behind founding Kwakol Markets relates to your earlier question. Given our experience trading with a plethora of brokers, we identified gaps in their services that we believed we could plug and deliver more value to traders like ourselves and enhance the general experience; including profitability. The lockdowns back in 2020 provided an opportunity to lay the foundation for what Kwakol is today. Since then, the evolution has been incredible and the building journey has been as worthwhile. We have managed to acquire licenses in several markets including Australia, Hong Kong, and Canada with some other market entries lined up over the next few quarters.

Kwakol Markets is quickly acquiring licenses in Cyprus, Australia, Hong Kong, and local Nigeria. Clearly, no lack of ambition there. What‘s next for the broker?

We are anchored by our mission to help individuals and institutions to create deserving financial futures. To do this, we devote our people, capital, and ideas to innovate around products and services that help us to achieve this mission. Today, this can take the shape of a brokerage service that enables people to earn sustainably and reliably OR a product that democratizes access to trading education as with Kwakol Academy. The immediate goal is to iterate on these offerings to serve clients in the best way possible and extend our award-winning services to new clients and markets. We are currently seeing growth in our client base from Europe and Asia and we want to consolidate our global standing. In the future, we rely on the incredible team of innovators we have on the team to help break new ground. So, definitely watch this space!

What is Kwakol Invest?

Kwakol Invest is our innovative copy-trading platform that matches profitable traders with investors who either don’t have the skills or time to reliably earn from trading activities. The enables us to serve not just traders but also people with disposable income looking for passive income. It also allows us to expand the range of earning sources for people that choose career paths in trading. We believe that trading opens up a lot of opportunities to earn besides actually taking positions in the market. Kwakol Invest is one of the first in a line of products we have in opening up these opportunities.

The multi-asset offering coupled with copy trading, MT4 and MT5, Autochartist, and Acuity’s new sentiment analysis, seems to be all that a trader needs and more. Is there anything more in store?

You’re right! We have many more for our clients. We are customer obsessed and we continually task ourselves to deliver beyond what you’d expect from a traditional broker to our clients. Kwakol Academy has a wealth of resources and hosts a community for members of the Kwakol Tribe to connect. Kwakol Research is consistently delivering insights to make our clients smarter about the workings of the local and global economy.

Read this next

Institutional FX

Cboe Australia launches BIDS offering after successful migration of Chi-X

“Executing the migration of Chi-X’s technology platform was a tremendous industry-wide effort and we thank our customers, vendors, regulators and other market participants for their strong engagement and support over the past year.”

Institutional FX

Sucden Financial launches access to 25 of China’s futures and options contracts

“We are delighted to offer clients access to three key futures markets in China, the world’s largest commodity consumer.”

Industry News

Kraken sponsors Williams Racing to expand institutional reach and fan engagement

“Kraken’s partnership with Williams Racing shows what is possible when you combine a great mission with excellence, innovation and breakthrough performance. These are both iconic brands that have stood the test of time. We’re excited to engage with both Kraken’s and Williams Racing’s global communities, showcasing the power and life-changing impact of crypto and Web3.”

Retail FX

FXChoice taps Acuity’s news, sentiment tools, calendars, trade ideas on MT4/5

“Our tools are designed with the end-user in mind and are engineered to present insightful and actionable market data in an accessible way to help traders manage risk by identifying potential market movements before they occur and ultimately make better decisions on how, when, and where to invest.”

Digital Assets

BlockFi to refund $103K to Californian users

Bankrupt crypto lender BlockFi will refund more than $100,000 to its California-based users who continued to repay loans even after the company halted client withdrawals following a liquidity crisis.

Institutional FX

SimCorp and FlexTrade team up to strengthen Open Platform

Broker-neutral technology firm FlexTrade Systems announced that its solution FlexTRADER EMS has been certified for integration with SimCorp, a provider of integrated, front-to-back, multi-asset investment management solutions.

Digital Assets

MicroStrategy prepays Silvergate loan, trims loss on BTC bet

MicroStrategy, spearheaded by one of bitcoin’s most vocal proponents, has prepaid the $205 million bitcoin-backed loan it took out from insolvent crypto-focused Silvergate Bank in March 2022.

Executive Moves

UK spread better InterTrader hires Joe Rundle as CEO

Multi-regulated online trading provider InterTrader has publicly revealed its newest appointment, having onboarded industry veteran Joe Rundle as its Chief Executive Officer (CEO).

Digital Assets

Federal judge puts brakes on Voyager sale to Binance

A federal judge temporarily halted the proposed deal to sell bankrupt crypto lender Voyager Digital’s assets to Binance US after a request by the United States government for an emergency stay.