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Khwezi Trade Review

FX Author By Jeffrey Cammack Author Information Updated: September 18, 2020
Overall Rating
3.47 3.47 / 5
Min. Deposit GBP 100
Max. Leverage 30:1
Min. Spread 0.6 pips
Regulators FSCA
Regulator Origin FSCA
Trading Desk Type

Summary

Khwezi Trade is regulated by the South African FSCA and is headquartered in Cape Town, South Africa.

Khwezi Trade offers trading in South African 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 11100
Trading Conditions 11100
Trading Platforms 11110
Deposit & Withdrawal 11110.5
Education & Research 1110.50
Assets Available 1110.50
Customer Service 1110.50
Beginner Friendly Standard
Bonuses
Our Review Process

Trading Conditions

Minimum Deposit GBP 100
Base currencies USD, EUR, GBP, AUD
Number of FX Pairs 32
Hedging Allowed Yes
Scalping Yes
Islamic Account No

Average Spreads

EUR / USD 1.8
GBP / USD
USD / JPY

Company Details

Company name Khwezi Financial Services (PTY) Ltd
Founded 2013
Website www.khwezitrade.co.za
Type STP
Regulators FSCA
Office locations South Africa

Deposit & Withdrawal Methods

Supported Platforms for Khwezi Trade

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.

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 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.

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.

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.

Alert Most retail CFD accounts lose money. Your capital is at risk.

Compare CFD Brokers

Overall Rating 1110.50 3.47 / 5 11110.5 4.38 / 5 11110.5 4.29 / 5
Minimum Deposit GBP 100 GBP 5 GBP 5
Regulation
FSCA FSCA
CySEC CySEC
ASIC ASIC
IFSC IFSC
CySEC CySEC
FCA FCA
FSCA FSCA
DFSA DFSA
FSC FSC
Trading Desk Type
Trading Instruments Commodities, Forex Commodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies Commodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies, Bonds
Forex Pairs 32 57 51
Crypto Pairs 4
Pros
  • ZAR Accounts
  • Fast and free withdrawals
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Local regulation only
  • No swap-free account option
  • Dealing desk
  • Limited base currencies
Read Full Review Read Full Review
Regulation 11100 3 / 5 11110 4 / 5 11110 4 / 5
Trading Conditions 11100 3 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Trading Platforms 11110 4 / 5 11110.5 4.5 / 5 11110 4 / 5
Deposit & Withdrawal 11110.5 4.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Education & Research 1110.50 3.5 / 5 11111 5 / 5 11110.5 4.5 / 5
Assets Available 1110.50 3.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Customer Service 1110.50 3.5 / 5 11110 4 / 5 11110.5 4.5 / 5
% Lose with this broker N/A 69% of retail investor accounts lose money when trading CFDs with this provider 72.83% of retail investor accounts lose money when trading CFDs with this provider
Leverage 30:1 30:1 30:1
Spread 0.6 pips 0.0 pips 0.0 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • VIP (Vip)
  • XM Zero (Standard)
  • Zero (Standard)
Islamic Account No Yes Yes
Trading Platforms MT4 MT4 , MT5 MT4 , MT5
Funding Methods Bank Transfer, Visa, Mastercard Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, VLOAD, Unionpay
Trading Commission Fees Included in Spread 7 USD / lot - XM Zero Account 6 USD / lot - Zero Account
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Khwezi Trade

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Overall Rating 1110.50 3.47 / 5 11110.5 4.38 / 5 11110.5 4.29 / 5
Minimum Deposit GBP 100 GBP 5 GBP 5
Regulation
FSCA FSCA
CySEC CySEC
ASIC ASIC
IFSC IFSC
CySEC CySEC
FCA FCA
FSCA FSCA
DFSA DFSA
FSC FSC
Trading Desk Type
Trading Instruments Commodities, Forex Commodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies Commodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies, Bonds
Forex Pairs 32 57 51
Crypto Pairs 4
Pros
  • ZAR Accounts
  • Fast and free withdrawals
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Local regulation only
  • No swap-free account option
  • Dealing desk
  • Limited base currencies
Read Full Review Read Full Review
Regulation 11100 3 / 5 11110 4 / 5 11110 4 / 5
Trading Conditions 11100 3 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Trading Platforms 11110 4 / 5 11110.5 4.5 / 5 11110 4 / 5
Deposit & Withdrawal 11110.5 4.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Education & Research 1110.50 3.5 / 5 11111 5 / 5 11110.5 4.5 / 5
Assets Available 1110.50 3.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Customer Service 1110.50 3.5 / 5 11110 4 / 5 11110.5 4.5 / 5
% Lose with this broker N/A 69% of retail investor accounts lose money when trading CFDs with this provider 72.83% of retail investor accounts lose money when trading CFDs with this provider
Leverage 30:1 30:1 30:1
Spread 0.6 pips 0.0 pips 0.0 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • VIP (Vip)
  • XM Zero (Standard)
  • Zero (Standard)
Islamic Account No Yes Yes
Trading Platforms MT4 MT4 , MT5 MT4 , MT5
Funding Methods Bank Transfer, Visa, Mastercard Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, VLOAD, Unionpay
Trading Commission Fees Included in Spread 7 USD / lot - XM Zero Account 6 USD / lot - Zero Account
Visit Khwezi Trade

Alert Most retail CFD accounts lose money. Your capital is at risk.

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