Khwezi Trade Review 2024

4 / 5
Khwezi Trade is #90 in our CFD broker rankings.

Khwezi Trade is best for South African traders looking for low-deposit and high-leverage CFDs on forex and popular financial assets.

- Daytrading Review Team

Khwezi Trade is a South African, FCSA-regulated brokerage that offers CFD trading with up to 1:400 leverage through the MT5 platform. The broker's asset list is not extensive, but does include a decent range of forex pairs and some stock indices. The free demo account and low minimum deposit make it easy and risk-free to try out. The broker also offers good welcome and other bonuses for traders who sign up.

Forex, CFDs, indices, commodities
60% deposit welcome bonus
Credit Card, Debit Card, Visa, Mastercard
Forex Trading

Khwezi Trade offers 40 forex pairs, traded through CFDs with up to 1:400 leverage, no commission and fees charged through the spread. Spreads start from 0.4, but these vary by asset and are subject to change with market conditions.

Stock Trading

Khwezi Trade does not offer trading on company stocks, but investors can speculate on stock market movements with index CFDs. Indices include the Nasdaq and Dow Jones, which cover some of the largest US companies.

CFD Trading

Khwezi Trade offers CFDs on 40 currencies as well as a few commodities and 11 stock indices. Commodities include gold, silver and crude oil, and the stock indices include the popular Dow Jones. These are traded using the powerful MT5 platform with high leverage, no commission and variable spreads.


  • Best FX Broker Africa 2020 & 2021 - Trade Forex
  • Best Broker South Africa 2019 & 2020 - Global Brands Magazine

✓ Pros

  • CFD trading with up to 1:400 leverage
  • Supports the popular MT5 platform
  • Decent range of 40 forex pairs including majors
  • Account balance in South African Rand will suit local traders
  • Free technical analysis tools
  • Generous welcome bonuses

✗ Cons

  • Limited asset list with no company shares
  • Weak selection of extra educational content
  • Poor website with little information on trading terms

Khwezi Trade is an online forex broker offering a demo and a live account on the MT5 trading platform. In this review, we cover the registration and login process as well as leverage, contact details, and more. Find out if Khwezi Trade is safe or a scam.

Khwezi Trade Headlines

Khwezi Financial Services is a South African brokerage established in 2013. The broker has two offices in Cape Town and Johannesburg and is regulated by the Financial Sector Conduct Authority (FSCA) of South Africa.

The broker provides trading in currency pairs, commodities, and indices, as well as offering additional analysis tools and market signals.

MetaTrader 4 Trading Platform

Whether you’re a rookie or seasoned investor, the MT5 platform caters to multiple trading strategies on a simple interface. Users can access numerous charting tools and custom indicators to analyze price movements, such as Fibonacci Retracements and moving averages.

Other features include:

Khwezi Trade MT4 platform
MetaTrader 4

MT5 works with Windows XP and later PCs and can be downloaded straight from the broker’s website.

Assets & Markets

Khwezi Trade offers 39 CFD currency pairs, 11 indices including the Dow Jones and NASDAQ, and a handful of commodities including gold, silver, and crude oil. All instruments are traded in South African Rand (ZAR).

Note, the brokerage does not offer trading on binary options or cryptocurrencies.

Spreads & Commission

The average spread for EUR/GBP is 25 pips, EUR/USD is 10 pips, and GBP/USD is 16 pips. Commodities have a variable spread of 20-240 pips, with the highest being for natural gas. Indices are also variable at 60-1200 pips. Unfortunately, these spreads are noticeably higher than competitors.

Live spreads can be found on the broker’s website.


The maximum leverage for live accounts is 1:400. However, for demo accounts, this drops to 1:100. These are reasonable rates but by no means the highest leverage levels available. If you plan on mimicking exact market conditions on your demo account, you may struggle as the maximum leverage levels don’t match.

Mobile App

The mobile app version of MT5 is available, suitable for iOS and Android devices. The app provides easy access to features with a mobile-friendly interface. Custom tools are supported, as well as full pricing feeds and investing history. You can also set push notifications and access a free chat service for support on the go.

Khwezi Trade mobile app
Mobile App

Khwezi Trade Payment Methods

Deposit options include mobile and online banking platforms. Once registered, clients can view Khwezi Financial Services account details and make a deposit using their account number as a reference. Alternatively, credit and debit cards can be used to deposit via the client portal ‘Deposit’ area.

Withdrawals must be requested via email. They are processed daily if received before 15:00 GMT+2 or the next day if later.

Demo Account

Khwezi has a free practice account so that you can test out your skills in the MT5 platform. The starting balance is R100,000, and you can invest in 32 instruments with a leverage of up to 1:100. Clients can open a live account when they are ready to invest real cash.

Bonuses & Promotions

Khwezi Trade offers a 60% welcome bonus on deposits made after the 5th of April 2022. This promotion is subject to the broker’s terms and conditions.

An R500 credit bonus has also been offered in the past, so investors should check the broker’s website for any future deals.

Regulation & Licensing

Khwezi Financial Services Limited is regulated locally by the Financial Sector Conduct Authority (FSCA) in South Africa, with FSP license number 44816. However, this is only local regulation, meaning traders may feel more comfortable opting for a broker that operates under one of the more international regulatory frameworks.

Additional Features

There is limited investing research and education available, including news, several video tutorials for the registration process, and market analysis. You can find a more comprehensive range of resources at other brokers.

Khwezi Trade does offer its Flexi Analysis service, which is a subscription to live technical analysis updates and signals. This is a great option for beginners looking for help asserting an edge.

Dynamic Outcomes are also provided, a signals service for the South African Rand. However, this comes at a cost of 395 ZAR per month (around 25 USD).

Khewzi Trade investing tools review

Account Types

Khwezi Trade offers only one live account, called Zar One:

It is relatively easy to open an account. However, it’s worth noting that the registration form requires a mobile number, ID, and proof of address.

Trading Hours

Khwezi Trade opening hours:

With that said, general market hours are between 0:00 GMT+2 on Monday to 22:00 GMT+2 on Friday.

Customer Support

There are several ways you can contact Khwezi, including a live chat service and an online inquiry form. You can also reach the broker via telephone or email:


The broker keeps clients’ funds in segregated South African bank accounts, is regulated by FSCA, and is authorized to provide derivates. MT5 is also a secure and safe platform, complying with industry-standard encryption protocols that protect data exchanges between servers.

Khwezi Trade Verdict

Khwezi Trade has recently improved the quality of its services and is now offering more information about spreads, account types and assets. Using the trusted MT5 platform, the live account provides a good option for traders based in South Africa to try a new online trading partner with a low minimum deposit.


What Is The Minimum Initial Deposit Required At Khwezi Trade?

The minimum deposit is R500 with the Zar One account. This is competitive versus peers and makes it popular with beginners.

What Platforms Does Khwezi Trade Use?

Khwezi Trade uses the downloadable desktop and mobile app platform – MetaTrader 5 (MT5). The trading terminal offers a good range of instant and pending orders, multiple charts and extensive customization.

Where Is Khwezi Trade Based?

The broker is based in two locations in South Africa: Cape Town and Johannesburg.

Does Khwezi Trade Offer A No Deposit Bonus?

At the time of writing, the broker does not provide any such deals. Traders should check the website or social media pages for future offers.

Is Khwezi Trade A Scam?

Whilst we cannot say for certain that the broker is a scam, our review was concerned with the lack of transparency on the part of Khwezi Trade, particularly around payment options and fees. As a result, we would recommend other providers first.

Top 3 Alternatives to Khwezi Trade

Compare Khwezi Trade with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
    Go to IG
  2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
    Go to Interactive Brokers
  3. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
    Go to World Forex

Khwezi Trade Comparison Table

Compare Khwezi Trade With Similar Brokers
Khwezi Trade IG Interactive Brokers World Forex
Rating 4 4.4 4.3 4
Markets Forex, CFDs, indices, commodities CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts
Demo Account Yes Yes Yes Yes
Minimum Deposit R500 $0 $0 $1
Minimum Trade 0.01 Lots 0.01 Lots $100 0.01 Lots
Bonus 60% deposit welcome bonus 100% Deposit Bonus
Education No Yes Yes No
Platforms MT5 Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral Trader Workstation (TWS), Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral MT4, MT5
Leverage 1:400 1:30 (Retail), 1:250 (Pro) 1:50 1:1000
Payment Methods 4 6 6 10
Visit Visit Visit Visit
Review IG
Interactive Brokers
World Forex

Compare Trading Instruments

Compare the markets and instruments offered by Khwezi Trade and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Khwezi Trade Trading Instruments
Khwezi Trade IG Interactive Brokers World Forex
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes No Yes
Gold Yes Yes Yes Yes
Copper No Yes No No
Silver Yes Yes No Yes
Corn No No No No
Crypto No Yes Yes Yes
Futures No Yes Yes No
Options No Yes Yes No
ETFs No Yes Yes No
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No Yes No No
Volatility Index No Yes No No

Khwezi Trade vs Other Brokers

Compare Khwezi Trade with any other broker by selecting the other broker below.


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Khwezi Trade is a South African, FCSA-regulated brokerage that offers CFD trading with up to 1:400 leverage through the MT5 platform. The broker's asset list is not extensive, but does include a decent range of forex pairs and some stock indices. The free demo account and low minimum deposit make it easy and risk-free to try out. The broker also offers good welcome and other bonuses for traders who sign up.