Kwakol markets – are they really trusted broker? Well, I can say definitely not. I can guarantee that clients will definitely lose their money. First, they will ask to start with USD 200, after that they will compel you to deposit more and more money. They will appoint a senior account manager who pretends to be a guide. They will ask you to open and close position according to the profit. First they will try to keep up your trust by offering a withdrawal which will be very small. Then after they will keep on compelling to deposit more money. They will also give you an offer that if you deposit more, you can make more profit and you can withdraw it the next day. The client will recognise the trap only while trying to withdraw a large amount. They will not pay you. I opened a Kwakol markets account two months back with USD 200. After that everything happened as described above. So called senior account manager kept on compelling me to deposit more money in gold and she demanded to deposit USD 1200. She asked me to squeeze myself for a week so that I can take my money back in one week. Due to irresistible compulsion, I managed to arrange the money by borrowing from my friend, thinking that I can return it within a week. Here is the situation where I was cheated by kwakol team. It was the time when the market went down. As per the advice by the senior account manager I had opened many positions which all was a loss except 2 or 3 in profit. I am sure that so called senior account manager knows very well what will happen if the market go down but she insisted me not to close any position. Later on 07th October 2024, while I was logged into my kwakol account, I was able to see a sudden change in my account where all the opened positions were closed. All happened while I was watching. The next day I got a message in kwakol app that margin call has occurred. I was aware about the measures to be taken when an account reach margin call. First of all they should inform me and after that option should be given either to deposit money or to close the positions. I had already made a profit of 1800 USD at that time. I had requested for a withdrawal of 240 USD on 1st of October which they didn't consider. The same occurred to another trading account with a reputed broker who asked me either to make a deposit or to close positions while my account was about to reach margin call. Instead of doing this kwakol market took all the money including my capital. I still have the questions.
1. What is the role of senior account manager? To make profit to the company or to assist clients?
2. Who gave the right to close the positions opened by me?
Apart from all these happenings I really wonder how there are positive reviews. I can only say that those reviews are posted by their promoters and not the clients. I have already lost my money and reputation due to these fraudsters. Anybody who wish to waist money, can definitely join kwakol markets. Those who are still with them try to submit a with withdrawal request for a big amount and then you will see their original face. Also try to trace the numbers from which calls will come. There are more than 20 numbers from which they will call but it will be different from the number given in the website. Their procedures are also entirely diffiernt from what is given in their site. I am on my way to stop these fraudsters cheating more people.

Recently I was scammed by Kwakol Market an online trading platform. By fraudsters Robert Brent, Hannah Quinn, David Miller & Harris Michael (who claimed that they were operating out of Australia but the address was UK.) Emails + chats available) There were some red flags which were ignored by me. Some of them were:

1. At the time of marketing videos were there of 3 of the above.

2. Once money deposited- then in their communication - no more videos only phone calls.

3. I did not check the registrations fully in UK- would have come to know within 1 day!

4. Nor the Australian registration.

5. I did not check out their credentials- web site what it did not share- financial information, exactly how the commission, spreads & swap rates were calculated. Ex: Trust Finance- shows- Bad

6. Social media on their credentials- with name of suspected fraudster. [of course they would also have many feedback about their efficiency & ease of doing business.

7. I did not ask them to give references of person in India with whom they dealt with.

8. Not answeriung obvious and easy questions. Minor withdrawals promptly executed to inspire confidence.

9. All the time playing on our greed to deposit higher amounts.

10. Once capital was sought to be drawn- situations to make me lose the amount tried by the 1st 3 fraudsters attempted.

11. When that Talled they aepitea me with massive "rollover charges" something not available on their web site as well which closed the amount in the account.

12. Being in India I have complained to the web site below. The matter was promptly forwarded to the cyber police which has a record of recovering the monies as evidenced by newspaper reports.

13. I have also complained to the FCA who found that though the address in the correspondences is UK, Kwakol is not registered there. However, additional information was sought which I have provided.

14. Have also complained to the Australian authorities with the registration number [which maybe fake]. Reply from them is awaited.

15. Have thought of putting this on social media so others can also do this.

16. In addition to this we can photograph them when they come for marketing. [ I did not do this]

17. + Save all numbers from which calls are made.

18. + record the calls

19. Record on chat & email all oral conversations.

20. All 11 to 15 to be done before transferring any monies.

They have full control on your funds and won't allow you withdrawal. They wasted all my 30,000 USD and time too. Please invest carefully and only with the company that can be in jurisdiction of your local authorities.

Am not here to defame anyone am just narrating like common person that I went through.
It started with promise of Robotic trading was asked to deposit refundable $250 by Kwakol market. After week nothing worked as promised. After month person from Kwakol called me on Jan 26th 2023. He introduced himself as 12-15 yrs experienced and promised to touch sky. He also told he has never traded with $250 and which seemed okay to me. I got convinced to put $1750 where he said will add some bonus that I can use for trading. First thing he asked me to trade was WTI, most volatile and risky instrument for newbie. After few positive trades rest my trades started going in negative. Un fortunately I was advised to open 100 Volume max which I did nearly to that, told not to be afraid and keep opening the trade till my margin is 200%(As per the external expert review this is incorrect). Mr.M advised me not to close with losses instead to deposit more which came up to 10+K:-(. Later did not turn up after several emails except for accepting deposits. I can't explain the stress I went through with 3 yrs old kid to look after. By then I had deposited $10,028 to recover my capital:-(. Trust me I did not have any withdrawal apart from $300 & $100 and one being for confirming my bank account. Later recovery manager entered the situation for Kwakol and they are only 4 people in entire company and will help me recover my account as it was in RED Alert. He spoke few hours logically where I had to put more funds to save my capital. I was assured will recover my account if I listen to him. It was so stressful, and I did not want to loose $10,028 so I had to deposit $3K to save my account and then $2K. Started doing small trades where my margin moved to 400%. Equity started showing 40 to 50% recovery. Was assured to make good profit and then close the trades with losses. My plan was to recover my capital, I was not even looking for single dollar profit apart from my capital amt. I was given WRITTEN confirmation that by June 10th I will withdraw $10K amount with my equity 30K and also SWAP free. SWAP was removed frequently. I had second baby plan hence me and my husband took call to get over this mess as this time recovery manager was genuine, God believing person, honest & someone like us. Me and my husband went extreme, closing my bank account, one of fixed deposit, borrowed from my mom and my husband made some personal loan as well. We accumulated and did multiple deposits. ($******* is the total deposit I made till now apart from my initial $250 refundable deposit and withdrawal of $400). Again I got RED margin as trades were in wrong direction, Kwakol put $4K to save my account as I started breaking emotionally when I was asked for more deposit. Unfortunately, my account got washed out.
I got my case reviewed by legal professionals and professional traders and they said its pure SCAM, as per them trading above 20% of capital is wrong way. No doubt I learnt to review inventory reports, CPI reports, red folder reports in forex factory etc. but it was at cost my years of savings, 5-6 months of stressful weekdays.

Kwakol is one of the best.