Khwezi Trade Broker Review

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.

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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.

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Display Name

Min. Deposit

Max. Leverage

Min. Spread

Commission

USD

USD 50

400:1

0.10

Spread Only

Account Details

ZAR

ZAR 500

400:1

0.70

Spread Only

Account Details

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.

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Broker

Trading Conditions

Base Currencies

EURUSD (Standard)

Trading Cost (Standard)

EURUSD (Best)

GBPUSD (Best)

USDJPY (Best)

Commission

Khwezi Trade

4/ 5

ZAR, USD

1.00 pips

USD 10

0.60 pips

1.00 pips

0.80 pips

USD 0

Darwinex

4/ 5

EUR, USD, GBP

0.20 pips

USD 7

0.20 pips

0.80 pips

0.40 pips

USD 5

FBS

4.5/ 5

EUR, USD

0.70 pips

USD 7

0.70 pips

0.90 pips

1.00 pips

USD 0

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.

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.

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Broker

Beginner Course

Advanced Course

Well Structured Education

Education Quality

Webinars

Khwezi Trade

Yes

No

Yes

Medium

No

Darwinex

No

No

No

Low

Yes

FBS

Yes

Yes

Yes

Medium

Yes

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 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.

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Broker

Platform Choice

Copy Trading

Platforms

Khwezi Trade

4/ 5

Yes

MT5

Darwinex

4.5/ 5

Yes

MT4

MT5

FBS

4.5/ 5

No

MT4

MT5

FBS App

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.

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She is the Senior Editor for FXScouts.  She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, “Let’s Talk Forex,” alongside her colleague, Chris, and has produced over 100 Forex educational videos for the FXScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.