Khwezi Trade Review

Author By Jeffrey Cammack Author Information Updated: November 24, 2020
Overall Rating
3.47 3.47 / 5
Rated #45 of 49 Recommended Brokers
Min. Deposit
ZAR 2000
Regulators
Trading Desk
Trading CostTrading Cost Information
USD 18
Website Language
English
Support Language
English
AlertAccepts South African Clients. Average spread EUR/USD 1.80 pips on trading account with lowest minimum deposit. Max leverage 200:1. Only MT4 platform supported. Khewzi Trade is regulated by the FSCA - FSP:44816

Summary

Khwezi Trade has category 2 FSCA regulation and is headquartered in Cape Town, South Africa. Khwezi Trade offers trading in Rand and holds client funds in segregated accounts at Standard Bank of South Africa. An STP broker, Khwezi Trade has good trading conditions, superior customer support, full MT4 support, and a fast and free deposit and withdrawal system.

Reviews

Regulation
111003/ 5
Trading Conditions
111003/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
1110.503.5/ 5
Assets Available
1110.503.5/ 5
Customer Service
1110.503.5/ 5
Beginner Friendly
Standard
Bonuses
None

Account Information

Base Currencies
ZAR
Number of FX Pairs
32
Copy Trading
Yes
Hedging Allowed
Yes
Scalping Allowed
Yes
Islamic Account
Yes

Trading Conditions

Min. Spread
0.60 pips
Commission
Fees Included in Spread
EUR/USD
1.8
GBP/USD
USD/JPY
Max. Leverage
200:1

Company Details

Company Name
Khwezi Financial Services (PTY) Ltd
Founded
2013
Office Locations
South Africa
Khwezi Trade - South A

Is Khwezi Trade Safe?

Khwezi Trade is a well respected South African broker and its parent company, Khwezi Financial Services, has been regulated by the FSCA (FSP: 44816) since 2013.

Though Khwezi Trade is not regulated internationally, it keeps all client funds segregated with a local bank, Standard Bank, and in ZAR – providing an additional level of security for South African traders.

Additionally, Kwhezi Trade has been recognised by the wider Forex industry – winning the award for Best Broker in the 2019 Global Brand awards.

Trading Conditions

Khwezi Trade’s trading conditions vary depending by account type and account type depends on the minimum deposit.

Khwezi Trade is an STP broker and posts all trades direct to market. Maximum leverage across all accounts is 1:200 – lower than the 1:500 offered by many other brokers, though this is not necessarily a bad thing given the risks in trading with high leverage.

Hedging and EAs are available and the Stop Out is fixed at 30%. Being a purely South African broker, all accounts are denominated in Rand. Khwezi Trade also offers Copycat or Mirror Trading through the single-choice MT4 platform.

Account Types

Khwezi Trade offers a single account split into four types depending on minimum deposit and services provided. There are free trading signals and technical analysis for all accounts delivered daily. A demo account is also available.

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Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Basic
ZAR 2000
200:1
Normal
None
Account Details
Premier
ZAR 30000
200:1
Tight
None
Account Details
Standard
ZAR 15000
200:1
Competitive
None
Account Details
VIP
ZAR 50000
200:1
Institutional
None
Account Details

Demo Account

The 100,000 ZAR demo account stays open for 14 days, and you can renew it should you wish. Once you have a demo account set up, traders have full access to Khwezi Trade’s customer support.

Real Account

Khwezi Trade offers four account types, depending on your minimum deposit. Higher levels of minimum deposit lead to tighter spreads and other advantages.

  • Minimum Deposit R2,000: Basic Account with an account manager but no personal training and wider spreads.
  • Minimum Deposit R15,000: Standard Account with free training sessions, account manager, and reduced spreads but no access to the Market Analysis Portal
  • Minimum Deposit: R30,000: Premier Account with tight spreads, unlimited training, access to account manager at all times.
  • Minimum Deposit: R50,000: VIP Account with institutional spreads, access to the Market Analysis Portal and advanced personal training.

Khwezi Trade also runs monthly promotions, giveaways, i.e. tablets, smartwatches etc.

Spreads and Commissions

While spreads are floating on all account types, at the VIP Account level they can be as tight as 0 pips, and even at the Basic Account level, they are competitive. No commission is charged on Forex trades, though a 3 ZAR commission is charged per trade on Index and Commodity CFDs.

Deposits and Withdrawal Fees

There are no deposit or withdrawal fees and withdrawals are processed daily (weekdays only). There are also no inactivity fees applied to your account.

Khwezi Trade for Beginners

Khwezi Trade is well suited to beginner traders, with a strong educational section in both video and text format and responsive customer support via phone, email and live chat.

Educational Material

While Khwezi Trade does not offer a vast amount of educational material, what it does have is of a high-standard and useful for new traders. The video tutorial section covers the basics, such as MT4 setup, charting, and tips and tricks for MT4. If you have any trouble with these tutorials, support staff can also offer assistance via telephone and email.

Khwezi Trade also has a short but excellent Trading Basics article covering questions commonly asked by new traders. Another article, Trading Products, presents the tradeable instruments available on Khwezi Trade, with impressively detailed descriptions. Khwezi Trade also run a frequent blog on topics of importance to beginner traders, such as Why You Should Invest in a Trading Mentor and Is Your Broker Legitimate?

Khwezi Trade is currently working on an advanced video tutorial series for more experienced traders and has four videos so far, which will also be used in webinars.

Analysis Material

Khwezi Trade sends daily analysis emails to all clients – it also offers Premier and VIP client access to a portal showing analysis on all pairs. Further analysis is also available via a 395 ZAR monthly subscription – analysis includes Multi-Timeframe Elliott Wave South African Rand Forecasts as well as technical and fundamental analysis and buy/sell suggestions.

Customer Support

Client service is excellent with Khwezi Trade – requests are answered quickly and efficiently. Khwezi Trade attempts to offer South Africans a different and better experience – and a very personal one.

Support is offered via live chat, email and phone from 7 am to 6 pm, but clients can call after-hours for emergency assistance. Help is available in English, Afrikaans, Zulu, Sotho and Xhosa.

Trading Platforms

Khwezi Trade supports the MetaTrader 4 platform only – though this is the industry standard and a good choice for. Desktop, iOS and Android versions of MT4 are available for download from Khwezi Trade’s website and the customer support team are happy to assist traders with setting up and troubleshooting.

Trading Video

Conclusion

Khwezi Trade is a locally-based and locally regulated broker and trading is denominated in Rands. This broker offers South African customer support while trading with conditions and software that you would expect of any good international brokerage, though leverage is lower than its competitors. If you having a good local broker is important to you, then Khwezi Trade is worth your consideration.

AlertAccepts South African Clients. Average spread EUR/USD 1.80 pips on trading account with lowest minimum deposit. Max leverage 200:1. Only MT4 platform supported. Khewzi Trade is regulated by the FSCA - FSP:44816
Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.47/ 5
ZAR 2000
STP
Commodities, Forex
32
0
  • ZAR Accounts
  • Fast and free withdrawals
  • Local regulation only
  • No swap-free account option
111003/ 5
111003/ 5
111104/ 5
11110.54.5/ 5
1110.503.5/ 5
1110.503.5/ 5
1110.503.5/ 5
of retail investor accounts lose money when trading CFDs with this provider
200:1
0.60 pips
Yes
Yes
Basic, Premier, Standard, VIP
Yes
MT4
Bank Transfer, Visa, Mastercard
Fees Included in Spread
1110.503.52/ 5
USD 500
STP
Forex, Equities, Cryptocurrencies, Commodities
40
5
  • Well regulated
  • Great platform choice
  • Innovative trading tools
  • High minimum deposit
  • Expensive withdrawals
  • Limited account options
111104/ 5
111104/ 5
11110.54.5/ 5
100001/ 5
110002/ 5
111104/ 5
1110.503.5/ 5
N/A of retail investor accounts lose money when trading CFDs with this provider
30:1
0.20 pips
Yes
Yes
live account
Yes
MT4, MT5
Visa, Bank Transfer, Skrill
€/$5 per 1 lot
1110.503.77/ 5
USD 1
STP, ECN/DMA
Commodities, Cryptocurrencies, Forex, Equities
37
0
  • Tight spreads
  • Low minimum deposit
  • Excellent education
  • Excellent market analysis
  • Limited range of assets
  • Extreme leverage
1110.503.5/ 5
111104/ 5
11110.54.5/ 5
110002/ 5
11110.54.5/ 5
111104/ 5
1110.503.5/ 5
76% of retail investor accounts lose money when trading CFDs with this provider
3000:1
0 pips
Yes
Yes
Cent, ECN, Micro, Standard
Yes
MT4, MT5
Neteller, Mastercard, PerfectMoney, Bitcoin
6 USD / lot - ECN Account
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