Currently, Khwezitrade is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa (FSCA). Each Khwezi Trade account is tailored to the individual trader’s needs. This Forex broker is regulated by the Financial Services Compensation Authority (FSCA), which mandates the segregation and personalization of client funds.
Safety and regulation: –
According to the Financial Sector Conduct Authority, Khwezitrade is now licensed as an FSP (Financial Services Provider). The Financial Intelligence Centre Act is also applicable to this Forex broker (FICA). Segregated customer funds will be found at a high-tier bank to guarantee transparency. You’ll learn about Khwezitrade regulations and safeguards for customers in this review.
Pros:
- As part of South Africa’s Financial Sector Conduct Authority (FSCA)
- Concerning the Financial Intelligence Center Act (FICA)
- Openness and fairness for all merchants.
- Segregated client monies are held in accounts.
Cons:
- None
Background: –
Founded in Cape Town in 2013, Khwezitrade is a South African-based Forex broker. With the lowest spreads and no commissions necessary, this Forex broker seeks to provide its customers with the most excellent online trading environment. The Global Brands Magazine has named Khwezitrade as South Africa’s Best Broker for 2020.
Pros:
- FinCEN (Financial Industry Regulatory Authority) (FSCA)
- Maintains separate accounts for each client’s funds.
- The quick procedure of withdrawal
- There are no credits for deposits or withdrawals.
- Different trading accounts are available
- There are numerous options for getting in touch with one another.
- Access to a Demo Account
- Low prices for both non-trading and trading
Cons:
- There is no round-the-clock customer service.
- There isn’t much to learn.
Khwezi Trade Fees: –
When you trade with Khwezitrade, you will never have to worry about any hidden costs. Non-trading costs are practically non-existent at this Forex trading broker, and trading fees are incredibly minimal. However, you’ll have to pay a 3ZAR commission for CFDs and commodities trading. A look into Khwezitrade’s trading and non-trading fees can be found in this review. Although Khwezi Trade charges a relatively low trading cost, all spreads it provides are based on the current market price. Also, keep in mind that you’ll be paid a 3ZAR commission for CFD and commodity trading.
Pros:
- No non-trading charges
- Low fees for trading.
- There are no expenses for deposits or withdrawals.
Cons:
- CFD and commodity trades are subject to a commission.
- Spreads that float
Account Opening: –
Khwezi Trade allows traders to select from four distinct trading accounts based on their level of experience. Inexperienced traders might consider the Basic Account, which offers a variety of Forex trading resources. The VIP and Premier accounts are best suited for experienced Khwezitrade brokers.
Pros:
- Scalping and hedging are permitted.
- the services of expert advisors (EAs)
- There are a variety of trading accounts to choose from.
- Except for CFDs and commodities, there is no fee for any trades.
Cons:
- There is a large minimum deposit.
- A limited number of currencies can be used as an account base currency.
Deposit and Withdrawal: –
Traders can benefit from a broad range of payment options and a quick deposit/withdrawal process at Khwezitrade. Since no fees are necessary for deposits or withdrawals, you won’t have to worry about them. At Khwezi Trade, you can only open an account using South African Rand as your account base currency (ZAR). Deposits are free at Khwezitrade, and you can use electronic payment, debit or credit card, or bank transfer to make them. Khwezitrade processes deposits quickly, usually within one business day.
Pros:
- There are no costs for making a deposit
- Various options for making payments
- The deposit process is quick and easy
Cons:
- Account base currencies are restricted.
