Khwezi Trade Review

Category: Reviews | Author: Trading Brokers | Date: September 9, 2023

If you’re on the hunt for a forex and CFD broker in South Africa, chances are you’ve come across Khwezi Trade. With a history dating back to 2013 and regulation by the FSCA, this broker offers access to a wide array of trading opportunities encompassing over 70 instruments, ranging from currencies and indices to commodities. Khwezi Trade boldly asserts its commitment to providing clients with low spreads, swift execution, and localized support. But does it live up to these claims? In this in-depth exploration, we’ll delve into crucial aspects of the Khwezi Trade, including its regulatory status, available platforms and tools, educational resources, market coverage, account varieties, and funding possibilities. Furthermore, we’ll uncover its commendable attributes and areas that might require improvement.

Pros & Cons

  • Demo account and Islamic account option
  • Low minimum deposit and zero commission
  • Regulated by the FSCA and authorized as an ODP Rand-based and dollar-based accounts
  • MT5 platform with desktop, web, and mobile versions
  • Over 70 instruments to trade Low spreads and fast execution
  • Segregated bank accounts and free unlimited withdrawals
  • Local support and dedicated account manager
  • Free forex education and daily market analysis
  • No social trading or copy trading features
  • No other platforms besides MT5
  • No other instruments besides forex, indices, and commodities
  • High leverage and margin call levels

Summary

Khwezi Trade Review

Khwezi Trade

Khwezi Trade, a prominent forex and CFD broker, has been catering to South African traders since 2013. With its regulatory backing from the FSCA, it offers an extensive range of trading instruments, encompassing currency pairs, indices, and commodities, totaling over 70 options. As for account options, Khwezi Trade provides four live account types, featuring an affordable minimum deposit of R500 ZAR for the basic account. Leveraging the widely acclaimed MetaTrader 5 platform, traders can access their accounts seamlessly across desktop, web, and mobile devices. The broker prides itself on its commitment to delivering competitive advantages such as low spreads, swift execution, and localized support to its valued clientele. Khwezi Trade goes further by extending the convenience of a demo account and an Islamic account variant. When it comes to funding, the broker accepts a variety of payment methods, including bank wire, credit/debit cards, PayPal, Skrill, Neteller, and UnionPay, ensuring flexibility for its users.

AvaTrade Logo

Our #1 Broker 2023

AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

Khwezi Trade is a regulated broker that operates under the supervision of the South African financial regulator, the Financial Sector Conduct Authority (FSCA) in South Africa. The FSCA is one of the strictest market regulators in the world and is responsible for overseeing the conduct of financial institutions in South Africa. The FSCA ensures that brokers comply with the Financial Markets Act, the Financial Advisory and Intermediary Services Act, and other relevant laws and regulations. Khwezi Trade holds an FSP license with the number 44816, which allows it to offer financial services and products to its clients.

In addition to being an FSP, Khwezi Trade is also fully authorized as an Over-the-Counter Derivative Provider (ODP), which means that it can originate, issue, sell, or make a market in OTC derivatives such as CFDs to its clients. OTC derivatives are contracts that are not traded on a formal exchange, but rather between two parties through a dealer network. OTC derivatives are popular among traders because they offer more flexibility and customization than exchange-traded derivatives. However, they also involve more risks and complexity, which is why the FSCA has implemented a new regulation affecting OTC derivative providers. The regulation aims to increase transparency, accountability, and stability in the OTC derivatives market and to protect clients from potential fraud, abuse, or misconduct. Khwezi Trade is a South African Forex broker regulated by the FSCA and authorized as an ODP. It is one of the first to be awarded an Over-the-Counter (OTC) license.

Platforms & Tools

Khwezi Trade excels in this regard by employing the MetaTrader 5 (MT5) platform, renowned globally as one of the foremost and cutting-edge trading platforms. MT5 is a versatile multi-asset platform that empowers traders to engage in forex, indices, and commodities trading. Its comprehensive suite of charting tools, technical indicators, and market analysis features equips traders to make informed decisions.

MT5 Trading Platform

MT5 Trading Platform

Furthermore, MT5 boasts a built-in programming language, affording traders the capability to craft and tailor their unique trading strategies, scripts, and indicators. Accessibility is a non-issue with MT5, as Khwezi Trade extends its availability to desktops, web browsers, and mobile devices. The broker offers user-friendly apps compatible with Windows, Android, iOS, and MacOS. These remarkable features ensure that traders have access to cutting-edge tools and a seamless trading experience, making Khwezi Trade an excellent choice for those seeking top-tier trading platforms and tools.

Education

Khwezi Trade takes this commitment seriously, offering its clients access to a comprehensive free forex education program through its online learning management system (LMS). This platform delivers a range of online courses and training materials, including a fundamental course covering key forex trading concepts like risk management, trend analysis, and the effective use of indicators. Designed to cater to traders of all levels, from novices to seasoned professionals, the course imparts essential principles, strategies, and techniques for successful forex trading. Additionally, it incorporates quizzes and exercises to assess and enhance your comprehension and progress. You can easily access the LMS by signing up on Khwezi Trade’s website. For further educational enrichment, Khwezi Trade’s blog provides a wealth of resources, including articles, videos, webinars, and podcasts. Covering various facets of forex trading such as market analysis, trading psychology, and valuable trading insights, the blog offers a steady stream of fresh and pertinent content to keep you well-informed and educated about the forex market.

Markets

Khwezi Trade offers a diverse range of trading instruments across three primary markets:

  • Forex Market: Khwezi Trade provides access to the Forex market, which is the largest and most liquid financial market globally. Traders can engage in forex trading by participating in currency pairs such as EUR/USD, GBP/USD, USD/ZAR, and many more. Forex trading enables traders to capitalize on fluctuations in exchange rates between different currencies. Khwezi Trade offers competitive advantages in this market, including leverage and low spreads, which can enhance trading opportunities.
  • Indices Market: Khwezi Trade also offers trading in indices, which represent baskets of stocks that reflect the performance of a particular market or sector. Examples include the S&P 500, FTSE 100, and JSE Top 40. Indices trading allows diversification of an investment portfolio by gaining exposure to global equity markets without the need to purchase individual stocks. It’s a way for traders to speculate on the overall health and direction of a specific market or sector.
  • Commodities Market: Khwezi Trade extends its services to the commodities market, where physical goods like gold, silver, oil, wheat, and others are traded on a global scale. Commodities trading enables traders to speculate on the supply and demand dynamics of these essential goods. Moreover, it provides a means to hedge against inflation and market volatility. Khwezi Trade allows traders to engage in commodities trading through Contracts for Difference (CFDs), offering advantages such as reduced trading costs, higher leverage, and access to a diverse range of commodities.

Each of these markets presents unique trading opportunities and risks, and Khwezi Trade’s platform facilitates access to all three, giving traders the flexibility to diversify their trading strategies based on their preferences and market conditions.

Accounts

Khwezi Trade understands the diverse needs of traders and offers two distinct account types to cater to your preferences.

  • ZAR One Account: The ZAR One account is a Rand-denominated account designed to simplify your trading experience. With a remarkably low minimum deposit of just R500 ZAR, it provides accessibility to traders with varying budgets. Trading in your local currency means you can avoid currency conversion fees, making it a cost-effective choice. Enjoy zero commissions, spreads starting at only 0.4 pips, and a generous maximum leverage of 1:400. Customize your account to match your unique trading style, enabling or disabling features like hedging, scalping, day trading, and EAs. The margin call level is set at 100%, with a stop-out level at 30%.
  • USD One Account: The USD One account operates in US Dollars, offering the advantages of lower spreads and increased liquidity associated with this widely-used currency. With a minimum deposit of just $50 USD, it’s an affordable option for traders seeking these benefits. Khwezi Trade simplifies currency conversion by offering competitive daily bank rates, allowing you to deposit in Rands and trade in US Dollars. Like the ZAR One account, it offers zero commissions, spreads starting at 0.4 pips, and a maximum leverage of 1:400. You can customize your account to suit your trading preferences, enabling or disabling features such as hedging, scalping, day trading, and EAs. The margin call level is set at 100%, with a stop-out level at 30%.

Funding

Khwezi Trade offers a diverse set of payment methods, including bank wire transfers, credit/debit cards, PayPal, Skrill, Neteller, and UnionPay. Each option comes with its own set of benefits and considerations. Bank wire transfers provide security but may involve longer processing times and higher fees. Credit/debit cards offer speed and convenience, though they may have transaction limits and associated charges. E-wallets like PayPal, Skrill, Neteller, and UnionPay are known for their quick and cost-effective transactions but may come with specific restrictions and verification requirements. Khwezi Trade simplifies the deposit process, allowing you to make direct deposits via mobile banking apps or online banking platforms using provided bank details. The user-friendly MyKhwezi portal also offers an instant EFT option and supports credit or debit card payments. Notably, Khwezi Trade does not charge fees on deposits or withdrawals, ensuring that you can manage your account and access your profits without incurring additional costs. The minimum deposit for the ZAR One account is R500 ZAR, while the USD One account requires a $50 USD deposit, making it accessible for traders with varying budgets. Additionally, the minimum withdrawal amount is set at R100 ZAR or $10 USD, providing flexibility in accessing your funds. This commitment to streamlined funding processes enhances your overall trading experience with Khwezi Trade.

Conclusion

Khwezi Trade, operating in South Africa since 2013, is a regulated broker under FSCA oversight and authorized as an ODP. With over 70 available instruments, including currencies, indices, and commodities, it provides diverse trading options. The broker offers two account types, each with a reasonable minimum deposit requirement. Their utilization of the versatile MT5 platform ensures accessibility from various devices. Khwezi Trade emphasizes low spreads, speedy execution, and local client support. Additionally, they offer valuable resources, including free forex education, daily market analysis, weekly newsletters, telephonic support, and informative Mr. Khwezi videos and guides. Supported payment methods include bank wire, cards, e-wallets, and UnionPay. Khwezi Trade’s strong reputation and commitment to South African traders make it a noteworthy choice in the country’s online trading landscape. However, it’s worth noting that while Khwezi Trade offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading broker reviews.

Khwezi Trade

R500 ZAR or $50 USD

Khwezi Trade, a well-established South African broker, offers over 70 trading instruments and is regulated by the FSCA, making it a reliable choice for traders in the region.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


About the Author

trading brokers logo

Trading Brokers
Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey. We have over 20 years of experience when it comes to trading online so we know what to look for.


Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.