Mkhonto Review (2022) | Trustworthy? | We Compare Brokers
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Mkhonto Broker Review

Review By: Alan Little
Review Updated: 2021-07-08
4
Rating

CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE. 79% OF RETAIL INVESTOR ACCOUNTS LOSE MONEY WHEN TRADING CFDS WITH THIS PROVIDER. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CFDS WORK AND WHETHER YOU CAN AFFORD TO TAKE THE HIGH RISK OF LOSING YOUR MONEY.

Overall Ratings
4
Mkhonto Fees
4
Trading Platforms
4
Market Research
4
Customer Service
4

Mkhonto broker features

Feature Mkhonto
Minimum deposit:
Withdrawal fee amount:
Inactivity fee charged (Y/N):
Max leverage:
Spread from:
Number of instruments:
Year founded:
Time to open account:
Demo account provided (Y/N):
Countries of regulation:
Products offered:

Mkhonto pros and cons

Pros
  • CFD liquidity provider with competitive spreads only for other brokers
  • MT4 and MT5 vanilla platform provider
  • A broad selection of tradable assets, including over 370 single-stock CFDs
Cons
  • Does not offer services directly to retail customers
  • Communications limited to email only
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Review Sections:

Who are FXTM?

Introduction
Mkhonto Financial Services (Pty) Ltd is registered and authorised to operate as a Financial Service Provider (FSP) in South Africa by the Financial Sector Conduct Authority (FSCA). At present, it primarily offers ‘B2B’ liquidity services and vanilla platform solutions for brokers engaged in providing Contracts for Difference (CFD) to retail customers for a variety of trading assets. It does not engage directly with customers, except as an agent for its brokerage clients. The company provides access to hundreds of CFD possibilities for popular stocks, forex exchange pairs, Exchange-Traded Funds (ETFs), precious metals, base metals, energies, indices, and cryptocurrencies. The management team has also chosen to partner with the exceedingly popular MetaTrader 4 and 5 trading platform options, enabling desktop, independent web access, and mobile trading with the device of your choice. MT4 and MT5 are well known for their user-friendly interfaces, extensive library of technical indicators, and overall ease of use in enacting trades and following various price histories of chosen assets. Patrick Mkhonto is the Founder and CEO of the firm. Judging from its registration number of "2012/139222/07", it appears that the firm has been registered for nine years. Among other authorised financial services, it is allowed to perform the duties of an intermediary related to the handling of shares and other derivative instruments, including CFDs. The firm and its management team uphold the following values:

Mkhonto Fees

4
Rating
Mkhonto has business relationships with large clients and Tier 1 banking liquidity providers, ensuring that spreads for its CFD trading products are competitive. For users of its vanilla platform services, an additional benefit is that this firm does not charge for implementation or maintenance.

Trading Platforms

4
Rating
Details for the back-office services of Mkhonto follow on its "Our Solutions" page. Our solutions page The firm focuses on two individual solution sets:

Mobile Trading App

MT4 and MT5 both support mobile trading for the on-the-go trader.

Market Research

4
Rating
The management team touts its broad wealth of experience in financial markets as one of the firm's main selling points. The staff includes a host of experts in market research, navigation, and trade execution.

Customer Service

4
Rating
The firm is committed to clear communications with its clients. It has also taken measures to ensure client privacy and the confidentiality of all correspondences.  
Address: Palm Grove Houghton Estate Office Park, 2 Osborn Road Houghton Johannesburg, Gauteng

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