Khwezi Trade Review
There are moments when we just enter a Forex broker’s website and immediately know what they are and what they do. But for the sake of having fun and proving ourselves wrong, we still continue the research. This was the case with this Kwezi Trade review. The moment we entered the website, the numerous typos, terrible design and massive use of stock images gave us an immediate answer that the Forex broker is undoubtedly a scam. What’s even funnier is that when you google them a sponsored page appears on the right side giving them a 5-star rating. But enough with the “poking fun” let’s get serious and review this broker.
The website itself is terrible, to say the least, but we will give them the benefit of the doubt and say that it was not their primary focus. But we need to say that getting information on the website is very hard. It’s not 1 click away. Honestly, the only information featured in the navigation bar of the website is the promotions they have alongside their video tutorials and a blog. Needless to say, the Blog is quite irrelevant as it holds no more than 4 articles. It would be best if they invested that time and space of the Blog into more detailed info disclosure.
If Khwezi Trade scam was not obvious at the beginning of the review, then this should do the trick. The company is located in Cape Town and also has a branch in Johannesburg, which are both South African cities. However, Khwezi Trade Forex broker does not have a license in South Africa, it says it holds one from the FSP in New Zealand, but we couldn’t find them on the website.
The “Request Call Back” feature that the company has on their website immediately flared up our “Telemarketing” alarm. There is nothing more annoying than to have somebody call you and try to sell you something. It is worth noting that you shouldn’t use that feature. This just reinforces the fact that if you actually do sign up on the platform, you’ll be bombarded by calls, enticing you to deposit more.
Khwezi Trade conditions
There was little information about the conditions but we were still able to find it in the “Account Types” tab. It is apparent that the company has a maximum leverage cap of 1:200, which is nice compared to the EU regulated Forex brokers, but for an offshore one, it is quite low. The minimum deposit seems to be ZAR 2,000 which is roughly $150. The deposit is an industry standard, but the information about withdrawals is completely missing. There is no info about which sources you can use for withdrawals, how long they take and if there are any types of fees connected to them.
Is Khwezi Trade a scam?
Yes, they most certainly are. No trustworthy broker would display such a lack of transparency. At the very least they would try to sugarcoat their not so positive features, but Khwezi Trade Forex broker just doesn’t disclose the information at all, giving them a below zero scores in terms of transparency, we didn’t even know this was possible.
So there is our Khwezi Trade review, we know that there is not much to see here, but there was not much to see on their website and platform as well, so we can’t just come up with the figures.