Khwezi Trade Review
Khwezi Trade is an online trading broker that operates from South Africa. They allow clients to trade currency pairs, metals, energies, soft commodities, and indices via the MetaTrader 4 trading platform with leverage of up to 1:200. Khwezi Trade is purely an STP broker, so they can offer quick execution of trades at some of the best available prices along with competitive spreads.
Khwezi Trade Review, Pros & Cons
- Regulated broker
- MetaTrader 4 trading platforms
- Trading tutorials & market analysis
- Dedicated account manager
- Limited account deposit & withdrawal options
- No USA clients
- Limited account currency options
- Minimum $150 deposit
- No individual stock trading
- Top account required for best trading conditions
In this detailed Khwezi Trade review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Khwezi Trade Overview
Khwezi Trade is a South African online trading broker that offers multiple trading instruments across different asset classes for trading online via the sophisticated and ever-popular MetaTrader 4 trading platforms for multiple devices.
The broker offers the straight-through processing (STP) execution model, which helps to ensure that clients’ orders are executed at the best possible prices with minimal slippage. The minimum deposit required to operate an account is 2000 Rand and there is a leverage of up to 1:200 available.
Khwezi Trade has won several industry awards including the ‘Best Broker South Africa’ 2019 and 2020, awarded by the Global Brands Magazine.
Khwezi Trade Regulation
Khwezi Trade is a division of Khwezi Financial Services Provider, with registration number: FSP 44816.
Khwezi Trade is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. The FSCA is the market conduct regulator of financial institutions, that provide financial products and financial services, financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures.
The broker states that all clients’ funds are kept securely in segregated accounts with top-tier South African Banks.
Khwezi Trade Countries
The broker allows traders from different parts of the world to open an account with them if their countries of residence permit online trading with international brokers.
Some Khwezi Trade features and products mentioned within this Khwezi Trade review may not be available to traders from specific countries due to legal restrictions.
Khwezi Trade Platforms
MetaTrader 4 (MT4)
Khwezi Trade provides their clients with the MetaTrader 4 platform. Easy to use and full of useful features, MT4 is one of the most popular online trading platforms that is used by millions of traders across the globe. It is an electronic trading platform with an abundance of features and automated trading capabilities.
With MT4, you have a wide selection of charting tools at your disposal, and you can completely customize the platform to meet your personal specifications. With a built-in programming language, you can even add additional functionality to the platform, including trading strategies, scripts, and technical indicators.
MT4 has an intuitive and user-friendly interface, with a wealth of technical analysis tools. Khwezi Trade provides the MT4 platform as a desktop application for Windows and Mac computers and a Web trading terminal that runs directly on most modern web browsers, such as Chrome, Safari, Firefox, and Edge, as well as mobile apps that are designed for Android and iOs devices.
The MT4 trading platform offers several unique features, including:
- Real time bid/ask price quotes in the market watch window
- Multiple order types – market orders, stop orders, and limit orders
- Three different chart types – candlestick chart, bar chart, and line chart
- Over 30 technical indicators
- More than 20 drawing tools
- Automated trading with expert advisors (EAs)
- Strategy tester to back test EAs over historical data
- Support for customised trading tools
- Set price alerts via SMS, email and platform pop-ups
Khwezi Trade Trading Tools
The broker offers clients access to live information through the Khwezi Trade active research products. This can help to improve your trading skills and assist with making informed trading decisions.
Forecasts give a complete roadmap for expected market movements and can be used to develop and enhance your trading strategies. It offers you market information that is simple, objective, and free of emotion or sentiment.
Khwezi Trade offers clients access to Elliott Wave Analysis information on the Rand through a trusted third party Dynamic Outcomes Rand Forecasting Service. They have been providing forecasts to hundreds of traders, importers, exporters, and corporates since 2005.
Dedicated Account Manager
The broker provides traders with a team of dedicated account managers who are committed to providing you with the highest level of trading assistance. They are useful to traders of all experience levels and readily available to assist you as and when required.
Market Analysis Portal
The broker provides traders with the market analysis portal; this enables traders to get access to updated analysis on some of the key factors that can move the markets.
Khwezi Trade Education
Khwezi Trade provides clients with a good selection of educational resources, which help to improve their trading skills and knowledge and are beneficial to traders of all experience levels. The brokers educational resources include:
The broker’s website has a good range of educational videos covering various trading topics, such as an introduction to market analysis, trading indicators, trading platforms and much more.
The education section of the broker’s website also has a blog that contains up-to-date articles to help keep clients in the know about the factors that move the markets, as well as events taking place in the financial markets.
The market research section covers a range of market analysis, such as technical analysis, fundamental news, candlestick pattern identification signals, and indicator identification signals on 60 forex pairs, major global indices, and the top ten commodities.
Khwezi Trade Instruments
Khwezi Trade offers online trading on a variety of financial assets, with competitive pricing and trading conditions. The financial instruments are traded on the MT4 platform, and they include:
- Metals: The metals available for trading include Gold and Silver, and they are considered as the ‘go-to’ assets for traders looking to shield themselves from inflation and volatility in the markets.
- Commodities: The broker offers commodities such as Coffee, Corn, and Wheat for trading on a Rand-based MT4 trading platform.
- Energy: Brent Crude and West Texas (WTI) are two of the most actively traded energy instruments, and they are available for trading on the broker’s platform.
- Indices: Khwezi Trade offers over fourteen stock indices thus allowing traders to trade their opinion of the US, European, Asian, and Australian equity markets.
Khwezi Trade Accounts & Fees
Khwezi Trade offers a variety of trading account types that are designed to suit traders of different experience levels. All accounts are denominated in South African Rand and have a minimum trade size of 0.01 lots. The trading account types include:
This account has a required minimum deposit of R2,000, trade size starting from 0.01 lots, and a leverage of up to 1:200. It offers reasonable trading conditions and features, such as hedging, scalping, expert advisors, and a range of educational materials.
The initial minimum deposit required to operate the Standard Account type is R15,000. It has competitive spreads and a leverage of up to 1:200. It features personal training, video tutorials, expert advisors, and more.
The Premier Account has a minimum required deposit of R30,000 and offers tight spreads and leverage of up to 1:200. It has interesting trading features, including expert advisors, hedging, scalping, advanced tutorial videos, and personal training, which are aimed at improving the overall online trading experience.
With an initial deposit of R50,000, VIP Account is designed specifically for advanced professional traders. It has institutional variable spreads and a leverage of up to 1:200. It has specific features, such as expert advisors, advanced personal training, and tutorial videos, as well as a 100% margin call and 30% stop out.
Demo trading accounts are available which enable you to try out the brokers service. This can be a good way to practice your trading strategies with virtual funds and familiarise yourself with the provided trading platforms.
As broker fees can vary and change, there may be additional fees that are not listed in this Khwezi Trade review. It is imperative to ensure that you check and understand all of the latest information before you open a Khwezi Trade broker account for online trading.
Khwezi Trade Support
Khwezi Trade provides clients with a dedicated customer support team who are polite and prompt in their responses. The team can be reached via Telephone, Email, and Online Live Chat or by visiting the team at their office in Cape Town, South Africa. The broker is also available on social media handles: Facebook, Instagram, Twitter, and LinkedIn.
Khwezi Trade Deposit & Withdrawal
The broker allows two payment methods: credit/debit cards for deposits and bank transfers for withdrawals. To process your credit or debit card payments to Khwezi Trade, you have to log in to the ‘MyKhwezi’ portal at the top right corner of the broker’s website and select “Deposit” on the online portal. Once the transaction is approved the funds will be allocated to your MT4 account.
For withdrawals, you send an email to the broker with the amount that you wish to withdraw and specify your full name and trading account number. If it’s your first withdrawal, you will need to attach the first page of your bank statement (no older than 3 months).
Khwezi Trade Account Opening
Opening a trading account with Khwezi Trade is quick and easy: simply click on the open demo or open an account button at the top of the broker’s website and fill in the application form. Next, upload your documents via the online portal, or email the documents to the broker. An email will be sent to you confirming your application, with your account login details and the bank details for your deposit.
Once your account has been created, you can fund your account and commence trading when you are ready to do so. The primary purpose of providing documents for verification is to protect companies and individuals by eliminating the possibility of money laundering AML (Anti-money laundering) and ATF (Anti-Terrorist Funding) from a transaction.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
Khwezi Trade Summary
Khwezi Trade is a South African trading broker that offers multiple trading instruments on the MetaTrader 4 trading platform along with trading tools and a variety of account types to choose from. They operate the STP broker model which helps to ensure competitive trading conditions and reliable execution of clients’ orders. They also have a good selection of educational materials but limited account funding options. There are no individual stocks to trade and the top trading account is required for the lowest spreads.
Contracts for Difference (‘CFDs’) are complex financial products, most of which have no set maturity date. Therefore, a CFD position matures on the date you choose to close an existing open position. CFDs, which are leveraged products, incur a high level of risk and can result in the loss of all of your invested capital. As a result, CFDs may not be suitable for all individuals. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary.