Khwezi Trade Broker Review

Author By Alison Heyerdahl
Updated: October 14, 2022
Overall Rating
3.72 3.72 / 5
Rated #47 of 56 Recommended Brokers
🏦  Min. DepositZAR 500
🛡️  Regulated By
💵  Trading Cost 
USD 10
⚖️  Max. Leverage200:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 
AlertDoes not accept Kenyan Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 200:1. Only MT4 platform supported. Khewzi Trade is regulated by the FSCA - FSP:44816
Last updated on October 14, 2022
by Editorial Director Alison Heyerdahl
Alison Heyerdahl

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Our verdict on Khwezi Trade

Khwezi Trade has category 2 FSCA regulation and is headquartered in Cape Town, South Africa. Khwezi Trade offers trading in Rand and holds client funds in segregated accounts at Standard Bank of South Africa. An STP broker, Khwezi Trade has good trading conditions, superior customer support, full MT4 support, and a fast and free deposit and withdrawal system.

🏦  Min. DepositZAR 500
🛡️  Regulated By
💵  Trading Cost 
USD 10
⚖️  Max. Leverage200:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 
best-fx-broker-africa 2020

Overall Summary

Regulation
111003/ 5
Trading Conditions
111104/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
1110.503.5/ 5
Assets Available
1110.503.5/ 5
Customer Service
111104/ 5
Beginner Friendly
Standard
Welcome Bonus

Account Information

Base Currencies
ZAR, USD
Number of FX Pairs
39
Crypto Pairs
0
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Account Name
Trading Desk
Commission
Fees Included in Spread
EUR/USD
0.60 pips
GBP/USD
1.00 pips
USD/JPY
0.80 pips
Negative Balance Protection

Company Details

Company Name
Khwezi Financial Services (PTY) Ltd
Founded
2013
Website Language
English
Support Language
English, Afrikaans
Office Locations
Malaysia, South Africa

Pros

  • ZAR Accounts
  • Fast and free withdrawals
  • Great customer support

Cons

  • Local regulation only
  • No swap-free account option
Khwezi Trade - South A

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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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Additional Fees
FSCA
STP
2013
Malaysia, South Africa

 

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
111104/ 5
ZAR, USD
1.00 pips
USD 10
0.60 pips
1.00 pips
0.80 pips
USD 0
Darwinex
111104/ 5
EUR, USD, GBP
0.20 pips
USD 7
0.20 pips
0.80 pips
0.40 pips
USD 5
FBS
11110.54.5/ 5
EUR, USD
0.70 pips
USD 7
0.70 pips
1.20 pips
1.30 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
Medium
Darwinex
Low
FBS
Medium

 

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
111104/ 5
Darwinex
11110.54.5/ 5
FBS
11110.54.5/ 5

 

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.

AlertDoes not accept Kenyan Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 200:1. Only MT4 platform supported. Khewzi Trade is regulated by the FSCA - FSP:44816
Visit Broker
Overall Rating
3.72 3.72  / 5

Khwezi Trade

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