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Broker Score | Min. Deposit | Regulation | Trading Desk Type | Trading Instruments | Forex Pairs | Crypto Pairs | Pros | Cons | Regulation | Trading Conditions | Trading Platforms | Deposit & Withdrawal | Education & Research | Assets Available | Customer Service | % Lose with this broker | Leverage | Spread | Hedging | Scalping | Account Types | Islamic Account | Trading Platforms | Funding Methods | Trading Commission | ||
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ZAR 500 | STP | Commodities, Forex, Indices | 39 | 0 |
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| Read Review | 0 | 400:1 | 0.60 pips | Yes | Yes | Silver, Gold, Platinum, USD, Diamond, ZAR | No | MT5 | Bank Transfer, Visa, Mastercard | Fees Included in Spread | ||||||||||
USD 0 | NDD | Commodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices, Metals | 100 | 19 |
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| Read Review | 86% | 400:1 | 0 pips | Yes | Yes | cTrader Razor, MT5 Razor, MT4 Razor, Standard, Swap-free | Yes | MT4, MT5, cTrader, TradingView | Bank Transfer, Visa, Mastercard, POLi, BPay, Paypal, Neteller, Skrill, Unionpay | From 7 USD / lot - Razor Account |
The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.
At FX Scouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.
To compare Pepperstone and Khwezi Trade, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.
Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.
In our comparison, we found that Pepperstone holds three Tier 1 and two Tier 2 licences, and Khwezi Trade holds no Tier 1 and no Tier 2 licences.
Based on these findings, Pepperstone earned a higher trust rating than Khwezi Trade.
Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged.
Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that Khwezi Trade and Pepperstone have the same trading costs.
Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms.
In this case, Pepperstone offers support for and Khwezi Trade offers support for .
Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both Khwezi Trade and Pepperstone offer copy trading.
A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that Pepperstone offers a greater range and depth of instruments to trade than Khwezi Trade. Pepperstone offers 100 Forex pairs to trade and Khwezi Trade offers 39 Forex pairs to trade.
In this case, Pepperstone offers 19 cryptocurrencies while Khwezi Trade offers 0 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Pepperstone.
Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals.
We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither Khwezi Trade nor Pepperstone charges a withdrawal fee. Overall, Khwezi Trade has better deposit and withdrawal processes than Pepperstone.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
Khwezi Trade and Pepperstone both have moderate educational support. Both Khwezi Trade and Pepperstone offer educational support for more experienced traders.
To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field.
We found that 0 offers better research analysis than 0 and that both Khwezi Trade and Pepperstone offer frequent webinars.
One of our highest-rated brokers for Nigerian traders, Pepperstone was founded in Australia in 2010 and is globally renowned for its low trading costs and choice of trading platforms. Pepperstone keeps costs low with some of the tightest spreads we’ve seen, averaging at 1 pips (EUR/USD) on its Standard Account. For those who prefer classic ECN trading, the Razor Account has low commissions and spreads, averaging just 0.24 pips on the EUR/USD. Neither account has a required minimum deposit.
Despite the low costs, we are disappointed with Pepperstone’s complicated commission structure. But more experienced traders will appreciate Pepperstone’s trading platform options, including MT4, MT5, TradingView, and cTrader. Additionally, Pepperstone offers a wide range of tradable assets, including over 90 Forex pairs and 1000+ stock CFDs. It also has great education and market analysis, making it a good option for beginner traders.
Overall, Pepperstone ticks all the boxes for those looking for a wide range of assets to trade, low costs, and a great choice of trading platforms and tools.
Traders can also choose between a number of top trading platforms, including MT4, MT5, and cTrader and a wide selection of trading tools. Furthermore, Pepperstone does not charge any withdrawal or deposit fees and allows hedging, scalping, and copy trading. Pepperstone provides a good selection of educational and market analysis material and provides negative balance protection for all clients. However, some Nigerians will be disappointed that Pepperstone doesn't offer Islamic swap-free accounts. As our highest-rated pure ECN broker, if you only want to pay a small commission for tight spreads, you won't find much better than Pepperstone.
Traders from Nigeria can only open an account with KhweziTrade if they have a South African bank account in their name.
Founded in 2013, Khwezi Trade is an FSCA-regulated local broker with low deposit ZAR accounts, fast trade execution and is renowned for its customer-focused approach to traders. KwheziTrade will particularly appeal to traders looking for an MT4 broker with personalised customer support.
Khwezi Trade’s entry-level account accommodates beginner traders with a minimum deposit of 500 ZAR, spreads averaging at 1.4 pips on the EUR/USD, which is slightly wider than other brokers, but with no commissions. Its other three accounts offer very competitive spreads which will appeal to more experienced traders with higher minimum deposits. All accounts come with a personal account manager, which benefits both beginners just getting started and experienced traders looking for flexibility in their trading conditions.
Khwezi Trade’s CFD assets outside of their Forex offering are limited compared to other brokers, with only 11 indices, and 7 commodities available restricting traders who wish to diversify their trading strategy. Although Khwezi Trade only offers support for MT4, beginners have access to an adequate selection of educational materials, including webinars and various training videos to get their trading careers underway.