General Information & Regulation
Khwezi Trade is an online forex broker based in South Africa, established in 2013 with offices in Cape Town and Johannesburg. Khwezi Trade is a division of Khwezi Financial Services, an authorized financial services provider, FSP 44816.
Khwezi Trade offers investors access to over 60 pairs of Forex CFDs, 14 indices (including Dow Jones and Nasdaq), and a range of commodities, including Gold, Silver, and Crude oil.
Khwezi Trade offers investors four different types of accounts: Basic (minimum deposit of R2,000/ $120), Standard (minimum deposit of R15,000), Premium (minimum deposit of R30,000), and VIP (minimum deposit of R50,000). All four accounts have maximum trading leverage up to 1:200.
Khwezi Trade Leverage
When it comes to trading leverage, the maximum leverage available for forex trading is up to 200:1. Though many other brokers could offer higher leverage level, inexperienced traders are not advised to use high leverage in case of high risks.
Spreads & Commissions
Seen from spreads listed on the Khwezi Trade MT4 trading platform, the spreads offered by this broker is pretty wide. The average spread is 10 pips for EURUSD, 25 pips for EURGBP, 19 pips for AUDUSD, 30 pips for Gold, 45 pips for Silver, and 20 pips for Brent Crude Oil.
Khwezi Trade offers traders the market-leading and highly acclaimed MT4 trading platform. Whether you are a novice trader or an experienced trader, MT4 can accommodate a wide range of trading strategies through a simple and intuitive interface. Traders have access to a wide range of charting tools to analyze price dynamics. Other features in Khwezi Trade MT4 include a full history of trading, single-threaded strategy testing, EA automated trading, multiple timeframes.
Deposit & Withdrawal
The funding options part is not fully disclosed on the Khwezi Trade website, which is quite weird. Most brokers, unregulated or regulated ones, would provides some payment methods for traders to funds their investment accounts, like credit or debit card, popular e-wallets including Neteller or Skrill. However, no related information is displayed by this broker.
Khwezi Trade Disadvantages Include:
1. Many negative reviews
2. Opaque fees & high spreads
3. Lack of educational resources
4. No related information about payments methods