It is a fully licensed online brokerage regulated by Financial Service Board (FSB) based in South Africa. FSB is in charge of giving out licenses to the forex brokers both in the country, non-banking financial and services overseas. It also ensures that the client funds are safely kept in segregated trust accounts in a recognized bank in that country. Khwezi Forex is a division of Khwezi Financial Services Proprietary Limited. It is entirely regulated against online fraud. Khwezi Forex Broker was established in 2015. The broker has a good number of clients around the world. The platform allows you to trade in currency pairs, spot metals as well as indices on MT4 and CFDs all in Rands. The Khwezi Trade offers leverage up to 1:200. There are many accounts available. The minimum investment with this broker is R10000.

Trading platforms

Traders on Khwezi are offered with an excellent trading option. The broker uses Meta Trader 4 trading platform which is available as a mobile app or desktop download. MT4 is the most popular trading platform around the globe. It makes it easier for you to trade your MT4 accounts on the go due to the apps on your pocket PC, smartphone or tablet.

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

The platform developer has released MT5 which is a new version, but most traders and brokers still prefer the old MT4. It is because of its features and is easy to use. It has a wide selection of charting tools and gives you the ability to customize to your specifications fully. The platform also gives you the ability to add additional functionality including scripts, strategies, and indicators.

The MT4 has automated trading systems and is a user-friendly interface. The MT4 platform offers advanced technical analysis, algorithmic trading, flexible trading system and Expert Advisors to the traders. Khwezi Trade requires for its traders to have the Meta Trader 4 account to sync their account data any other third-party services. The MT4 platform offers its trade signals markets and checks its signal providers using a strict process that uses a live account.

Trading Accounts and products

Khwezi Trade offers trading in Metals, Commodities, Energy, Global Indices and offshore CFDs with low margins and competitive pricing. CFDs is the largest and most liquid financial market in the world where currencies are sold and bought. Khwezi Trade offers more than 14 stock indices to the traders allowing them to trade their opinion of European, Australian, Asia, and Us markets.

CFDs are trading instruments that mirror the price of a commodity, stock or index. With the CFDs, you don’t have any restriction on selling as CFD allows you to exploit on both falling and rising prices, unlike the stock market where you are restricted to ‘shorting’ stock.

Traders who want to shield themselves from volatility and inflation in the market can trade in metals that is in Gold and Silver. With this, they can cushion themselves in times of economic uncertainty.

Mirror Account

It is an automated strategy. It allows the client to choose a trading scheme and to automatically mirror the trades executed by the selected scheme in another traders account. The risk involved in this is that the strategy does not stop loss orders and there are no guarantees, and your capital is at risk.

Each client opens their own account and funds it. These accounts called slave account and can only be accessed by the clients. The money deposited is then deposited in a segregated bank in the name of the client which is the master account. Positions are then allocated automatically. The money will not leave your account. It is just linked to the master trading account via which you need to sign it and accept the risk. Fund are deposited in Rands but traded in US Dollars. The minimum investment is R 10, 000.

Deposits and Withdrawals

Withdrawal is very easy which is either through Bank Wire transfers and credit or debit card payment. To deposit, the trader can use a card or wire transfer. The client needs to remember the MT4 Account number or your name. Your name will be used as a reference in the event you don’t know your MT4 Account number. All the deposits or withdraws are made directly to Khwezi Financial Services Standard Bank, Branch 036009 account number 072088958

Spreads, Leverage, and commission

Khwezi offers commission-free trading, but on the other side, its average variable spreads are at 1.8 pips EUR/USD which is above average.

The critical thing to note here is that the higher the leverage you use, the higher the risk of losses. The maximum leverage offered by Khwezi trade is 1:200 which is average however if you need higher leverage ratio, many brokers provide leverage exceeding or equal to 1:500.

Pros

  • Khwezi Forex is Commission-free trading
  • It uses MT4 which has excellent features
  • Khwezi is regulated in South Africa by FSP
  • Its funds are held in a segregated account at Standard Bank of SA
  • Statements are sent directly to your inbox daily.
  • It uses MT4 platform which is compatible with both Android and iOS

Cons

  • There is no ECN environment
  • Its spreads are above average

Conclusion

From the information above, Khwezi Trade is one the best brokers and better placed to understand the needs of its traders. It also has the best trading platform and offers commission-free trading.

Resources

http://forexprotect.com/forex-brokers-review/663/www.khwezitrade.co.za

http://www.khwezitrade.co.za/

https://www.forexbrokerz.com/brokers/khwezi-trade-review

http://khwezifinancialservices.co.za/

https://www.forexbrokerz.com/brokers/khwezi-trade-review

https://www.metatrader4.com/en

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