Recensione del broker Khwezi Trade

Is Khwezi Trade Safe?

Founded in 2013, Khwezi Trade is a well-respected South African broker based in Cape Town.  Its parent company, Khwezi Financial Services, is regulated by the Financial Services Conduct Authority of South Africa:

• Khwezi Trade is a division of Khwezi Financial Services, an authorized financial services provider (FSP: 44816.)

While the FSCA is generally well-respected, its rules are not as strict as those of the regulators in the EU and UK.  For example, the FSCA stipulates that brokers have to hold client funds in segregated accounts, but they do not have to provide negative balance protection, do not have to comply with leverage restrictions, and they do not have to insure client money through compensation schemes.  

According to regulation, Khwezi Trade is also required to keep accurate records and accounts, distinguishing the assets held for one client from the assets of any other client, and the company assets.  The company is also regularly audited by external auditors, and the auditor’s report is sent directly to the FSCA.  

Additionally, Kwhezi Trade has been recognized by the wider Forex industry – winning the award for Best Broker in the 2019 and 2020 Global Brand Awards.  

On the whole, because of its strict internal processes, history of responsible behaviour, and strong local regulation, we consider Khwezi Trade a safe broker to trade with.  

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Trading Fees

Khwezi Trade’s CFD trading fees are average compared to other brokers.

Like most other forex brokers, Khwezi Trade offers a range of account types with higher minimum deposits linked to tighter spreads and increasing benefits.  

Although Khwezi Trade publishes its spreads under the tab labelled MT4 Spreads, it is unclear which account these spreads refer to. However, it does publish the average spreads for the EUR/USD for each of its account types. 

Khwezi Trade’s accounts were assessed to compare the costs to those of other brokers.  The costs were evaluated based on the trading fees on one lot (100 000 USD) on the EUR/USD, including the spread and commission. 

When making this calculation, we use one lot of EUR/USD as a benchmark as it is the most commonly traded currency pair and it usually has the tightest spread.

Trading Cost Formula: Spread x Trade Size + Commission = Cost in Secondary Currency (USD):

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As you can see from the table above, the trading costs on the Diamond Account are lower than the costs on the other three accounts and are significantly lower than those charged by other brokers on similar accounts. However, traders need to maintain a minimum account balance of 30,000 ZAR which puts it out of the reach of most traders.  At 7 USD, the trading costs on the Platinum Account are also highly competitive – most other brokers tend to charge around 9 USD per lot of EUR/USD.  

The trading costs on the Silver and Gold accounts are higher than average, but the low minimum deposits on these accounts make them accessible to beginner traders.  

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Broker

Condizioni di trading

Valute base

EURUSD (Standard)

Commissione

Costo di Trading (Standard)

EURUSD (migliore)

GBPUSD (migliore)

USDJPY (migliore)

Khwezi Trade

4/ 5

ZAR, USD

1.00 pips

USD 0

USD 10

0.60 pips

1.00 pips

0.80 pips

Globex360

2/ 5

ZAR, USD, KWD, EUR, GBP

2.00 pips

USD 12

USD 32

1.60 pips

0 pips

0 pips

FXCC

5/ 5

EUR, USD, GBP

0.60 pips

USD 0

USD 6

0.40 pips

0.40 pips

0.40 pips

Swap Fees

The other main trading cost to consider is the overnight swap fee. This is charged on trades held open overnight and is derived from the difference between the interest rates of the two currencies being traded.  For example, the swap fees for the EUR/USD on a long position are -7.1076, and on a short position are +0.42.  

Unfortunately, Khwezi Trade does not provide key information around contract specifications and swap fees, which is one of the first things most traders look for when shopping around.

Non-trading Fees

Khwezi Trade’s non-trading fees are significantly lower than other brokers.

Khwezi Trade does not charge any fees for deposits or withdrawals and charges no inactivity fees on dormant accounts.  This is a welcome development in an industry where fees are charged on almost every transaction.  

Account Opening

The account opening process at Khwezi Trade is easy, hassle-free, and fast.

All  traders can open an account at Khwezi Trade, but will need to meet the minimum deposit amounts to do so, these are:

• Silver Account: 500 ZAR
• Gold Account: 2,000 ZAR
• Platinum Account: 10,000 ZAR
• Diamond Account: 30,000 ZAR

Opening a live account at Khwezi Trade is easy and fast and while it also offers Corporate Accounts and Joint Accounts, we will focus on opening an Individual Account:

1. Initially, you will need to click on “Open Account” and register your name, email address, phone number, and country of residence.  You will also have to agree to Khwezi Trade’s terms and conditions.  
2. You will then have to upload two different documents:
   1. A clear photo or scanned copy of ID (preferably colour photo, facial features and ID number should be visible. If you have an ID card we require a copy of the front and back of the card)
   2. A clear photo or scanned copy of proof of address, no older than 3 months (no PO Box, registered address must match proof of address).  Valid documents include a utility bill showing your name and address, or a verified bank or credit card statement, a municipal rates and taxes account, or a rental or mortgage statement.  
3. Khwezi Trade will then send you an email confirming the receipt of documents, and you will be able to continue with the account-opening process.  
4. If you register for a live account, you will be directed to fill in the KYC (know your customer) information, including date of birth, identity number, place of residence.  You will also have to fill in your financial details so that Khwezi Trade can assess your suitability for trading.  This is a responsible move on the part of the broker in an industry that is often accused of an irresponsible approach to consumer protection.  
5. Once this step is complete, you will need to make at least the minimum required deposit for your chosen account via one of Khwezi Trade’s deposit methods. For more on Khwezi Trade’s withdrawal and deposit methods, click here.
6. We advise you to read Khwezi Trade’s risk disclosure, customer agreement, and terms of business before you start trading.

Overall, the account opening process at Khwezi Trade is hassle-free and accounts are usually ready for trading within one day.  

Khwezi Trade’s Account Types

Khwezi Trade offers four account types, which is more than is usually offered at other brokers, and its accounts cater to both beginners and more experienced traders.

Khwezi Trade offers four live accounts and a demo account.  The accounts offer increasing benefits and tighter spreads with higher minimum deposits, making them appealing to beginners and more experienced traders.

Beginner traders are inexperienced traders who have never traded before, or who have been trading for less than a year.  Beginner traders often do not want to risk trading large sums of money and generally will not be able to trade full-time during the workweek. 

Accounts with lower minimum deposits and which allow trading in micro-lots are generally more suited to beginner traders. Spreads on these accounts are usually wider than those with higher minimum deposits.  Khwezi Trade’s Silver Account requires a minimum deposit of 500 ZAR and allows trading in smaller trade sizes, measured in micro-lots, making it suitable for beginner traders.  

In general, experienced traders tend to prefer accounts with higher minimum deposits and tighter spreads.  Khwezi Trade’s Platinum and Diamond accounts both have extremely tight spreads (averaging at 0.7 pips and 0.4 pips (EUR/USD) respectively) and no commissions are charged, making these some of the lowest trading costs in the industry.  However, this is in exchange for minimum deposits of 10,000 ZAR (Platinum Account) and 30,000 ZAR (Diamond Account), making them only accessible to more experienced traders.  

Khwezi Trade is an STP/ECN broker which means that all trades are passed directly to their liquidity providers with no interference.  This allows Khwezi Trade to offer its traders tighter spreads.  Maximum leverage across all accounts is 1:200, which is lower than the 1:500 offered by many other brokers but will limit the trader’s risk exposure.  However, Khwezi will consider allowing traders leverage of up to 1:300, but this is evaluated on a case-to-case basis.  

Hedging, scalping, and algorithmic trading are available and Stop Out is fixed at 30%. 

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Demo Account

The 100,000 ZAR demo account does not expire. The demo account allows traders to practice risk-free under real trading conditions.  Once you have a demo account set up, traders have full access to Khwezi Trade’s customer support.

Live Accounts

Khwezi Trade offers four account types, depending on your minimum deposit:

• Silver Account: Khwezi Trade’s entry-level account requires a minimum deposit of 500 ZAR.  The spreads on this account average at 1.4 pips on the EUR/USD, which is wider than the spreads on other brokers’ entry-level accounts.  Traders also have access to a weekly Fundamental Newsletter.  
• Gold Account:  The minimum deposit on this account is 2,000 ZAR.  Spreads start at 1.0 pips on the EUR/USD, which is slightly wider than the average spreads at other brokers on similar accounts, but no commissions are charged.  Gold Account-holders have access to free training sessions, a personal account manager, and regular market analysis emails.   
• Platinum Account: With a minimum deposit of 10,000ZAR, the spread on the commission-free Platinum Account averages at 0.7 pips. Premium Account holders receive all the benefits of both the Silver and Gold accounts, but also have access to the Market Analysis Portal and VIP videos. 
• Diamond Account:  The minimum deposit on the Diamond Account is 30,000 ZAR.  Spreads average at 0.4 pips on the EUR/USD and no commissions are charged, making it one of the lowest-cost accounts in the industry.  Traders have access to the same benefits listed for the Platinum Account. 

Overall, Khwezi Trade offers more account options than most other brokers, and the varied choice makes it suitable for beginners and more experienced traders. The trading costs are wider than average on its Silver and Gold account, but the low minimum deposits make them accessible to beginner traders.  Trading costs improve significantly on its Platinum and Diamond accounts, but this is in exchange for higher minimum deposits, making them appealing to more experienced traders.  

Khwezi offers a limited number of funding methods compared to most other brokers, and while it charges no fees for deposits or withdrawals, withdrawals can only be processed by bank transfer into a South African bank.  

A well-regulated broker, Khwezi Trade ensures that all Anti-Money Laundering rules and regulations are followed, and as such, all withdrawals are returned to the deposit source.  

Khwezi Trade does not charge any fees for deposits or withdrawals and even absorbs any third-party charges.  Deposits can be made via bank transfer and credit or debit card, but unfortunately, this information is not published on its website.  Withdrawals are processed daily, but only to South African bank accounts, and on the same day if a request is made before 3 pm.   

Base Currencies (Trading Account Currencies)

Khwezi Trade only allows transfers to be made in ZAR from South African banks or debit and credit cards, which is limited compared to other brokers.

A South African broker, Khwezi Trade only allows accounts to be denominated in ZAR, which means that Deutschs will have to pay currency conversion fees.  

Additionally, if traders want to trade on assets with other base currencies such as the EUR/USD, a small conversion fee will be charged on each trade. 

Trading Platforms

Khwezi Trade’s platform support is limited compared to other similar brokers.

Khwezi Trade only provides support for the MetaTrader 4 platform, which is available on Windows, and as an Android and iOS-downloadable app.  

Metatrader 4

Having established itself as the industry-leading platform, Metatrader 4 (MT4) is the most reliable and popular platform in existence. Its intuitive interface and user-friendly environment provide essential tools and resources for successful online trading. It is also widely recognised for its fast execution speeds, range of charting tools, algorithmic trading, and customisability. 

Khwezi Trade’s MT4 platform is the standard version of MT4, and while numerous upgrades are available, most of them come at a price.  

Features of the MT4 include: 

• A built-in library of more than 50 indicators and tools to streamline the analysis process
• An impressive array of analytical tools, available in nine timeframes for each financial instrument.
• Algorithmic trading, which allows any trading strategy to be formalised and implemented as an Expert Advisor. 
• Customisable alerts
• Access to MetaTrader market and MQL4 community. 

There are also many advantages of signing up with an MT4 broker:

• The MT4 community is vast, as is the amount of text and video resources to support new and experienced traders alike.
• The MT4 EA (Expert Advisor) community of developers is very active, so renting or buying algorithmic trading software is very easy.
• MT4 has very low system requirements, and MT4 trading can run off any device.

While MT4 has great customizability, the platform feels outdated, and some of the features may be hard to find.  In addition, only the basic orders are available, including Market, Limit, Stop, and Trailing Stop.

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Broker

Scelta della piattaforma

Copy Trading

Piattaforme

Khwezi Trade

4/ 5

Sì

MT5

Globex360

4.5/ 5

Sì

MT4

FXCC

4/ 5

No

MT4

Although MT4 is an excellent trading platform, many other CFD brokers also offer their own web-based platforms, which tend to be easier to use for beginner traders. On the other hand, the benefit of Khwezi Trade offering a third-party platform such as MT4 is that traders can take their own customised version of the platform with them should they choose to migrate to another broker.

Mobile Trading

Khwezi Trade’s mobile trading platforms are limited compared to other brokers.

MetaTrader4 (MT4) is available on IOS, Android, and Windows mobile phones and tablets. The app will connect to the same account as the desktop software, allowing a synchronised and mobile trading experience.

Traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options, but traders can close and modify existing orders, calculate profit and loss, and trade on the charts.  

Trading Tools

Khwezi Trade offers fewer trading tools than other similar brokers. 

Khwezi Trade offers traders two third-party tools, namely Flexi Analysis and Dynamic Outcomes.  Both tools are available for a monthly subscription fee of 395 ZAR each.  

Flexi Analysis: Khwezi Trade offers its clients access to a third-party tool, Flexi Analysis, which provides live technical analysis updates and signals.  This tool is available on the trader’s dashboard and covers Fundamental News, Technical Analysis, Candle Pattern Identification Signals, and Indicator Identification Signals.  

Dynamic Outcomes: Khwezi Trade offers its clients access to Elliott Wave Analysis information on the Rand through a trusted third-party provider,  Dynamic Outcomes Rand Forecasting Service.  This tool covers the major Rand-based financial markets such as the ZAR/USD (Dollar vs Rand) and GBP/ZAR (Pound vs Rand).  The forecasts are delivered via an online portal and are updated twice a week, on a Wednesday and a Friday evening (USA close).  These forecasts come in four timeframes for each market.  While this information is useful, it is limited to rand-based instruments.  

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Broker

Calendario economico

Autochartist

Trading Central

Trading View

VPS gratuito

Khwezi Trade

No

No

No

No

No

Globex360

Sì

No

No

No

No

FXCC

Sì

No

No

No

Sì

Most other brokers offer a range of trading tools free of charge to help traders make better trading decisions, which is not available at Khwezi Trade.   

Khwezi Trade’s Financial Assets

Khwezi Trade’s range of financial instruments to trade is smaller than most other brokers, with no shares nor specialty CFDs such as ETFs or cryptocurrencies.  This is mostly down to the fact that trading is only offered on the MT4 platform.

Khwezi Trade offers trading on Forex, commodities, and indices.    

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Forex: Khwezi Trade offers 39 currency pairs for trading, including majors (EUR/USD, GBP/USD, and USD/JPY) and minors (NZD/CAD, EUR/JPY, and GBP/NZD). This offering is limited compared to what’s available at other brokers. The maximum leverage on forex is up to 200:1.

Indices: Khwezi Trade offers trading on 11 indices, which is limited compared to other similar brokers, and includes the likes of the AUS200, UK100, Nasdaq, and the Dow Jones. Leverage is up to 100:1 on indices.

Commodities: Khwezi Trade offers trading on seven commodities, including metals such as silver and gold, and energies such as Brent, oil, and natural gas. The maximum leverage on commodities is 1:100.

Khwezi Trade has a relatively disappointing range of CFDs available for trading, which is mostly down to the fact that Khwezi Trade only offers support for the MT4 platform.

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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 and email.

Educational Material

Khwezi Trade’s educational materials are limited compared to what’s available at most other brokers, but what is available is of a high standard.

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Broker

Corso per principianti

Corso avanzato

Formazione ben strutturata

Qualità della formazione

Webinar

Khwezi Trade

Sì

No

Sì

Media

No

Globex360

No

No

No

Basso

No

FXCC

Sì

No

Sì

Media

No

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 at Khwezi Trade, with impressively detailed descriptions. Khwezi Trade also runs 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 also offers monthly educational webinars. 

Overall, the education section could be improved with a greater variety of materials in addition to providing sections for beginner and more experienced traders. 

Analysis Material

Khwezi Trade offers little in the way of research and analysis compared to other brokers.

Khwezi Trade sends daily analysis emails to all clients – it also offers Platinum and Diamond 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 (as mentioned in the trading tools section).

Customer Support

Khwezi Trade’s customer support is excellent compared to other brokers.

Khwezi Trade’s customer support is available 5 days a week from 7 am to 6 pm via email, telephone, and a call-back service.  While it advertises a live chat feature, the queries are responded to by email.  

Client service is excellent at Khwezi Trade – requests are answered quickly and efficiently, and Khwezi Trade offers traders a very personalised experience.

Help is available in English, Afrikaans, Zulu, Sotho, and Xhosa.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Khwezi Trade offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Risk Warning

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Khwezi Trade would like you to know that: 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.

Overview

Khwezi Trade is a South African broker with accounts based in ZAR. With four live accounts, trading costs decrease with higher minimum deposits, and all account-holders have the service of a personal account manager. Leverage is limited to 1:200, but this is a responsible move on the part of the broker to reduce exposure.  While trading is only offered on the MT4 platform, and Khwezi Trade offers few trading tools, deposits and withdrawals are free.  Additionally, Khwezi Trade provides excellent, personalised customer support.  

Team editoriale

 

Chris Cammack
Responsabile dei contenuti

Chris è entrato a far parte dell’azienda nel 2019 dopo dieci anni di esperienza nel campo della ricerca, della redazione e del design per pubblicazioni politiche e finanziarie. Il suo background gli ha dato una profonda conoscenza dei mercati finanziari internazionali e della geopolitica che li riguarda. Chris ha un occhio di riguardo per l’editing e un appetito vorace per l’attualità finanziaria e politica. Garantisce che i nostri contenuti su tutti i siti soddisfino gli standard di qualità e trasparenza che i nostri lettori si aspettano.

 

Alison Heyerdahl
Scrittrice finanziaria senior

Alison è entrata a far parte del team come scrittrice nel 2021. Ha una laurea in medicina con particolare attenzione alla fisioterapia e una laurea in psicologia. Tuttavia, il suo interesse per il forex trading e il suo amore per la scrittura l’hanno portata a cambiare carriera e ora ha oltre 8 anni di esperienza nella ricerca e nello sviluppo di contenuti. Ha testato e recensito oltre 100 broker e ha una grande conoscenza del mondo del trading Forex.

 

Ida Hermansen
Scrittrice finanziaria

Ida si è unita al nostro team come scrittrice finanziaria nel 2023. Ha una laurea in Digital Marketing e un background in scrittura di contenuti e SEO. Oltre alle sue capacità di marketing e scrittura, Ida ha anche un interesse per le criptovalute e le reti blockchain. Il suo interesse per il trading di criptovalute ha portato a un interesse più ampio per l’analisi tecnica e il movimento dei prezzi del Forex. Continua a sviluppare le sue competenze e conoscenze nel trading sul Forex e tiene d’occhio i broker Forex che offrono i migliori ambienti di trading per i nuovi trader.