PROS CONS
Khwezi Trade is one of the first non-bank institution in South Africa to receive an OTC license Limited account currency options
Khwezi Trade is a proudly South African FSCA-regulated forex broker authorised as an ODP Limited funding options provided
Well-regulated broker that caters for any novice or professional trader by providing innovative, versatile trading software through MetaTrader 4 Individual stock trading is not supported
Provides segregated bank accounts and a fair and safe trading environment
Trading tutorials and market analysis provided in real-time
There is a choice between retail investor accounts
PROS CONS
User-friendly proprietary trading platform Inactivity fees are charged on dormant accounts
Zero deposit or withdrawal fees Fixed spreads are not offered
Impressive portfolio of 2,000+ instruments
Fully authorised subsidiaries in several jurisdictions
User-friendly proprietary trading platform with comprehensive analysis and news feeds
Offers a forex demo account and competitive trading costs
PROS CONS
More than 250 instruments offered There is an inactivity fee applied to dormant accounts
A choice between different trading accounts that cater for every type of trading experience
Popular trading platforms supported across devices
Advanced trading tools offered for trading forex and other instruments
Comprehensive educational materials offered
PROS CONS
Negative balance protection offered on retail investor accounts Fixed spreads are not offered
AutoChartist, VPS, and FIX API offered Crypto trading is not supported yet
FSCA-regulated broker in South Africa Limited educational material and resources offered
Member of an investor compensation fund that provides client protection
Commission-free trading offered
Range of advanced trading tools offered
PROS CONS
Negative balance protection offered Fixed spreads are not offered
Range of funding options provided
Social trading supported on powerful and versatile trading platforms
Welcomes all types of traders
Welcomes all types of trading strategies
Offers a wide range of markets
PROS CONS
Commission-free trading offered on some accounts No fixed spreads
A choice between flexible retail investor accounts
Powerful trading platforms offered across desktop, the web, and mobile platforms
Well-regulated broker with FSCA regulation
Negative balance protection applied to retail trading accounts
Offers educational materials and a range of useful trading tools
PROS CONS
FSCA-regulated and trusted forex broker in South Africa and one of the best market makers in the industry There are no variable spread accounts offered
Commission-free trading offered with a competitive average spread Limited selection of retail trading accounts offered
Competitive trading conditions that suit all types of traders Spreads offered are not the tightest
Social trading opportunities are offered, and all trading strategies are welcome
Offers powerful proprietary trading platforms on desktop and mobile devices
Trusted broker that connects South African traders to global financial markets
PROS CONS
Well-regulated by reputable entities including the Financial Sector Conduct Authority (FSCA) Limited range of tradable instruments
High maximum leverage offered
Low minimum deposit requirement
Low commissions charged on trading accounts
Dedicated customer support offered in multiple languages
Supports powerful forex trading platforms on mobile, desktop, and the web
PROS CONS
Member of the Financial Commission in providing investor protection Fixed spreads not offered
Offers MetaTrader 4 and 5 on the web, desktop applications, and mobile trading apps Limited tradable instruments
Trading signals provided through AutoChartist Lack of comprehensive education
Offers managed accounts for professional traders
News provided through FxWirePro
FSCA-regulated broker that is trusted by traders in South Africa
PROS CONS
Multi-regulated broker with FSCA regulation and a high level of trustworthiness MetaTrader 5 is not offered
Commission-free trading offered on some retail trading accounts
Additional account management fees are not charged
Axi trading academy and community offered to novice traders
Flexible funding methods offered
Powerful trading technology available across several devices
PROS CONS
Powerful and user-friendly trading platforms provided Inactivity fees are applied to dormant accounts
Tight spreads and low commissions offered There is a high minimum deposit requirement
Multi-regulated and trusted broker
Withdrawal and deposits are free
FIX API DMA trading supported
Offers Islamic Accounts

Because it is the perfect platform where they can start practising trading before they go into a live trading environment.

A demo account serves two purposes namely providing potential clients with a risk-free overview of the broker’s offering, and a testing ground for beginner and experienced traders who want to practice trading and test strategies.

Yes, traders are participating in a live market environment but with virtual funds.

You should use the demo account until you can execute more wins than losses and until you feel comfortable with depositing real money.

No, not all forex brokers offer demo accounts.