Khwezi Trade Review

Review

Khwezi Trade (a division of Khwezi Financial Services FSP 44816) is a relatively new online Forex and CFD brokerage launched in 2014. They are headquartered and regulated in the Republic of South Africa by the FSCA. They stand out as a uniquely South African brokerage and not just a sales office of a multinational which has secured regulation there. They offer traders the opportunity to trade a reasonably wide range of instruments wrapped as CFDs (Contracts for Difference), even including a selection of soft commodities. Khwezi Trade offer trading in 60 forex currency pairs, several commodities including softs, and the major global equity indices. All accounts and trades may be denominated in South African Rand.

Accounts

Only one account type is offered. As only spreads and no commissions are charged, it appears that Khwezi Trade operate a market-maker execution model. The minimum deposit size required to open any account is R 2000. The only trading platform which may be used is the MetaTrader 4 platform. Even though there is no choice here, it can be used with mobile or tablet devices through an application, and clients can also choose between a web-based and program version of the platform to use.

The first thing that needs to be said about Spreads, is that they are negotiable depending upon the volume of trading and the size of the deposit, so new customers should feel that they can try to negotiate a reasonable deal on spreads before depositing. Generally, on the benchmark EUR/USD currency pair, its average variable floating spread comes in at approximately 1.8 pips, which is a little on the high side.

Managed accounts are also available. Khwezi Trade are part of a wider corporate group offering asset management, share trading, and other financial services.

A maximum leverage of 200 to 1 is available in Forex trading. Lower maximums apply to most of the non-Forex instruments which are offered. All accounts offer a minimum trade size of 1 micro-lot (0.01 full lots).

A demo account is available, as is typical with nearly all spot Forex and CFD brokers.

Scalping is allowed, and automated trading is possible.

There is no choice of platform, clients must use MetaTrader 4. 

Features

Khwezi Trade’s most notable feature is its truly South African, Rand-denominated identity, with its corporate identity firmly South African in both location and regulation.

Khwezi Trade offers trading in a reasonably wide range of assets, but they do not offer some of the more exotic CFD instruments which are becoming more common such as ETFs, although soft commodities are available. They certainly offer a quite wide assortment of minor and exotic Forex currency pairs.

Education

Khwezi Trade has only a limited free educational offering per se, limited to basic video tutorials covering how to register, open an account, download and install the MetaTrader 4 platform etc. However, they do offer subscription-based research products providing technical analysis, fundamental news, candle pattern identification signals, indicator identification signals, and premium buy and sell suggestions. The research products cover 60 major Forex pair, major global equity indices, and the top 10 commodities. They also offer a subscription to Elliot wave forecasts of the price movements of major Rand-based Forex currency pairs. All the material is provided by a third party in partnership with Khwezi Trade, not by Khwezi Trade itself. They also offer one on one training to clients depending on their deposit. 

Bonuses and Promotions

New clients are eligible to win a one-off prize of Rand 5,000 upon making their first deposit. Promotions vary month to month. 

Deposits/Withdrawals

Depositing funds into a Khwezi Trade account is an easy and secure process, with bank accounts being opened in the account holder’s name at Standard Bank in South Africa by Khwezi Trade. Funding can be done using credit cards, debit cards, and bank transfers only. Withdrawals are generally made via EFT, and payments are processed daily.

Customer Support

Customer support is based in South Africa, offering support by telephone and email, during business hours from Monday to Friday.

Conclusion

Khwezi Trade has a well-rounded, well-regulated and professional-looking offering which will be of special interest to South African traders looking to trade a reasonably wide range of assets in the form of Forex currency pairs and CFDs, denominated in South African Rand.

Back to Top

Features

In terms of features, the stand-out strengths of Khwezi Trade’s offering are:

• A fairly wide range of instruments available for trading: Forex currency pairs, global equity indices, gold, silver, crude oil, and several soft commodities.
• Accounts may be denominated in South African Rand.
• Regulated by the South African FSB.
• Spreads may be negotiated depending upon deposit size and volume of trading.
• Part of a larger asset management corporate structure.

Back to Top

Platform

MetaTrader4

The MetaTrader 4 is an independent trading platform, developed for trading FX, commodities and other products and is one of the most advanced and easy platforms to use. It remains the gold standard of trading platforms.

In addition to the wide range of markets available to trade, the MT4 platform provides traders with a multilingual interface, instant execution, built in help guides for MT4 and MetaQuotes Language 4, a complete technical analysis package including a wide range of in-built indicators and charting tools, various custom indicators and time periods and more.

Automated trading is also offered through the MetaTrader 4 platform where traders can create and test their automated trading strategies by using the MetaEditor, Strategy Tester and Compiler tools within the MT4 platform.

With this automated trading system clients may create Expert Advisors, software programs enabling traders to constantly monitor the markets. Custom Indicators help traders to predict future price movements by analyzing past and current price information. And the Scripts feature gives traders the opportunity to set up an automatic repetition of specific operations such as closing all positions with a single keystroke.

MetaTrader Mobile

The MetaTrader 4 and platform apps can be used on iPhones, iPads, Multi-Terminal, and all Android devices. 

Back to Top

User Reviews

Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted.

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed.

Back to Top