In the fast-paced world of forex trading, choosing the right broker is crucial. Eightcap and Khwezi Trade are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between Eightcap and Khwezi Trade across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated Eightcap and Khwezi Trade, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. The more top-tier authorities regulating a broker, the higher its trust rating.
In our comparison:
Based on these findings, Eightcap earned a higher trust rating than Khwezi Trade.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that Eightcap and Khwezi Trade have the same trading costs.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both Eightcap and Khwezi Trade offer copy trading.
A broader range of CFD instruments provides more trading opportunities. Eightcap offers a greater variety of instruments compared to Khwezi Trade:
For those interested in trading cryptocurrencies, Eightcap offers 100 cryptocurrencies, while Khwezi Trade offers 0 cryptocurrencies. Therefore, Eightcap is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that neither Eightcap nor Khwezi Trade charges a withdrawal fee. Overall, Eightcap has better deposit and withdrawal processes than Khwezi Trade.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
Eightcap and Khwezi Trade both have moderate educational support. Both Eightcap and Khwezi Trade offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that Eightcap offers better research analysis than Khwezi Trade and that both Eightcap and Khwezi Trade offer frequent webinars.
With two simple low deposit accounts, Eightcap offers appeals to cryptocurrency traders who are familiar with the MT4 and MT5 trading platforms looking for a large range of cryptocurrency options.
A well-regulated broker, Eightcap offers trading on Forex, indices, commodities, share CFDs, and over 250 cryptocurrencies, the largest set in the industry.
Eightcap offers two live accounts and a demo account. Both of its live accounts have a minimum deposit of 100 AUD (or currency equivalent), making them appealing to beginner traders. The Standard Account has fees included in its variable spreads, which average at 1 pip on the EUR/USD, while its Raw Spread Account offers competitive spreads of 0.1 pips (EUR/USD) in exchange for a commission of 7 USD (round turn).
Both MT4 and MT5 are fully supported, and Eightcap offers a premium toolset by FX Blue Labs that includes an array of sophisticated alarms and messaging systems, and live sentiment and correlation tracking. It also offers Capitalise.ai, a platform that helps customers create automated trading strategies using intuitive non-coding language.
While Forex education and analysis are not as comprehensive as some of Eightcap’s larger competitors, customer service is available in 10 languages and is responsive and knowledgeable.
Khwezitrade does not offer services to British traders. This review is for informational purposes only.
Founded in 2013, Khwezi Trade is an FSCA-regulated local broker with low deposit ZAR accounts, fast trade execution and is renowned for its customer-focused approach to traders. KwheziTrade will particularly appeal to traders looking for an MT4 broker with personalised customer support.
Khwezi Trade’s entry-level account accommodates beginner traders with a minimum deposit of 500 ZAR, spreads averaging at 1.4 pips on the EUR/USD, which is slightly wider than other brokers, but with no commissions. Its other three accounts offer very competitive spreads which will appeal to more experienced traders with higher minimum deposits. All accounts come with a personal account manager, which benefits both beginners just getting started and experienced traders looking for flexibility in their trading conditions.
Khwezi Trade’s CFD assets outside of their Forex offering are limited compared to other brokers, with only 11 indices, and 7 commodities available restricting traders who wish to diversify their trading strategy. Although Khwezi Trade only offers support for MT4, beginners have access to an adequate selection of educational materials, including webinars and various training videos to get their trading careers underway.
For more detailed reviews, please read our comprehensive assessments of Eightcap and Khwezi Trade.
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Broker | Regulated by FCA | Licenced by | Min. Deposit | Cost of Trading | Broker Score | Official Site | Compare |
---|---|---|---|---|---|---|---|
No | USD 20 | USD 6 | |||||
No | USD 10 | USD 7 | |||||
No | USD 5 | USD 6 | |||||
No | USD 100 | USD 9 | |||||
Yes | USD 0 | USD 10 | |||||
No | USD 200 | USD 8 | |||||
No | AUD 100 | USD 6 | |||||
Yes | USD 0 | USD 10 | |||||
No | USD 5 | USD 7 | |||||
Yes | USD 0 | USD 10 |
Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.