The Financial Sector Supervisory Authority has registered and allowed Mkhonto Financial Services (Pty) Ltd to operate as a Financial Services Provider (FSP) in South Africa (FSCA).
It currently primarily offers “B2B” liquidity services and platform solutions to brokers engaged in providing contracts for difference (CFDs) to retail clients for various trading assets. It does not interact directly with clients except as an agent for its brokerage clients.
The company provides access to hundreds of CFD opportunities in popular stocks, currency pairs, exchange-traded funds (ETFs), precious metals, base metals, energy, indices and cryptocurrencies. The management team has also chosen to work with the extremely popular MetaTrader 4 and 5 trading platforms, providing also mobile trading from any device of your choice. MT4 and MT5 are well known for their user-friendly interface, extensive library of technical indicators and overall ease of use in executing trades and tracking various price histories of selected assets.
Patrick Mkonto is the founder and CEO of the company. Judging by its registration number “2012/139222/07”, one can understand that the company was founded in 2012. Among other authorized financial services, it is authorized to perform intermediary duties related to transactions in stocks and other derivatives, including CFDs.
The firm and its management are committed to the following values:
Customer Concern: we give due consideration to our clients’ interests and treat them fairly.
Act with Integrity: We are committed to acting ethically in everything we do. Our relationships with clients, stakeholders and our colleagues are built on trust, respect and confidentiality.
Practical excellence: We demand excellence from ourselves and strive to deliver the highest level of customer service.
Client Communication: We pay due attention to our clients’ information needs and communicate information in a clear, fair and accurate manner.
Innovate: We anticipate our customers’ changing needs and creatively adapt our services to meet them.
Deliver results: We strive to ensure customer satisfaction.
Relationship with authorities: we work openly and collaboratively with all regulatory bodies.
Mkhonto maintains business relationships with large customers and tier-one bank liquidity providers, which ensures competitive spreads for its CFD trading products.
An added benefit for users of its platform services is that this firm does not charge an implementation or maintenance fee. The firm focuses on two individual sets of solutions:
Liquidity Provider Center: the firm offers access to tier one liquidity providers across multiple financial markets. However, the staff can tailor the solution to your needs at no charge.
White-Label solutions: Do you want to outsource technical issues to an experienced back-office trading platform service provider? White-Label is designed for this possibility. MT4 and MT5 products give customers access to the platform from all possible devices.
Mkhonto offers a wide range of assets in the following eight categories:
Forex: over 50 currency pairs, including major currencies and several exotics.
Indices: actively traded and emerging indices are offered.
Precious Metals: gold, silver and other precious metals are included.
Energy: speculate on global energy prices at low prices.
Cryptocurrencies: Mkhonto supports cryptocurrency trading as the popularity of this volatile area has increased recently.
Stocks and ETFs: access to the world’s most popular exchanges provides easy trading.
Copper, steel, and other base metals are available through the company in addition to the precious metals mentioned above.
Individual Stocks: The broker offers approximately 370 different individual stock CFDs. The organization is dedicated to open and honest communication with its customers. It has also taken precautions to protect client privacy. One of the company’s primary justifications is the management team’s significant knowledge in the financial markets. The staff includes many experts in market research, navigation and deal making.
What you need to know about Mkhonto before starting a partnership:
Ease of use: MT4 and MT5 trading platforms are known for their ease of use and MT4 and MT5 trading platforms are known for their ease of use and direct access to trades, charts, indicators, as well as news and market analysis.
Mobile trading: MT4 and MT5 also support mobile trading.
Robo-trading: Currently there is no option for copy or robo-trading with experts.
Cryptocurrency: Cryptocurrencies are included in the firm’s product offering.
Regulatory details: Mkhonto is regulated by the Financial Sector Supervisory Authority (FSCA) of South Africa. The FSP license number is 47191, the registration number is 2012/139222/07 and the official address is Palm Grove Houghton Estate Office Park, 2 Osborn Road Houghton Johannesburg, Gauteng.