Headway Review

Headway is a trustworthy regulated broker registered with the FSCA. Headway offers access to unlimited leverage and fair trading conditions across a range of markets and account types. Headway has a trust score of 80 out of 99.

🛡️Regulated and trusted by the FSCA
🛡️2745 new traders chose this broker in the last 90 days.
🛡️Available for South African Traders. 🇿🇦

Overall Rating

• 4.1/5

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OPEN AN ACCOUNT

Min Deposit

USD 1

Regulators

FSCA

Trading Platform

MT4, MT5

Crypto

Yes

Total Pairs

46+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Headway Review – Analysis of Brokers’ Main Features

1. 1. ☑️Spider Chart
   2. ☑️Overview
   3. ☑️Advantages over Competitors
   4. ☑️Safety and Security
   5. ☑️Sign-Up Bonus and Promotions
   6. ☑️Affiliate Program
   7. ☑️ Minimum Deposit
   8. ☑️Headway Account Types and Features
   9. ☑️How to Open a Headway Account
   10. ☑️Headway Base Account Currencies and Basic Order Types
   11. ☑️Trading Platforms
   12. ☑️Headway Fees, Spreads, and Commissions
   13. ☑️Headway Deposits and Withdrawals
   14. ☑️Headway Education and Research
   15. ☑️Headway Bonus Offers and Promotions
   16. ☑️Customer Support
   17. ☑️Headway vs XBTFX vs. Exness – a Comparison
   18. ☑️Headway User Reviews
   19. ☑️Pros and Cons
   20. ☑️In Conclusion
   21. ☑️Frequently Asked Questions
   22. ☑️References

Spider Chart

Criteria

• Regulatory Standing: 8/10
• Financial Stability: 7/10
• Trading Platform Quality: 9/10
• Customer Support: 6/10
• Educational Resources: 8/10
• Trading Conditions: 8/10
• Withdrawal Speed: 4/10

Overview

Headway is a trusted choice for South African traders, offering a flexible trading experience. Headway is famous among South African traders; it offers the needed flexibility and has three types of accounts, one of which is the Cent account for novices. If you are a beginner in trading, you can open an account for beginners, while if you have experience, there is an account that can be opened for experienced traders.

The trading platforms include the prolific MetaTrader 4 and MetaTrader 5, which are compatible with advanced charting tools and AutoTrade tools. We have separate accounts at Headway for every investment, and we adhere to the laws of the country that have employed our services. Free of internal charges for deposits or withdrawals, along with a low spread and competitive trading environment, makes it fairly cheap. More so, the protection of the negative balance helps traders avoid putting substantial amounts of money at risk.

Headway – Advantages over Competitors

Headway has the following notable advantages over competitors:

• Risk management measures are available, such as negative balance protection.
• Dedicated multilingual customer service is available 24 hours a day, seven days a week.
• Headway offers Islamic accounts for traders who value ethics, increasing the platform’s diversity.
• South African traders benefit from competitive spreads and a clear commission structure.
• Headway provides various account options for traders of all skill levels.
• South African traders have access to the MetaTrader 4 and MetaTrader 5 platforms.
• The broker prioritizes security and regulatory compliance, using segregated accounts.
• There are no internal fees for deposits and withdrawals.
• South African traders seeking clarity in terms and conditions would enjoy Headway’s dedication to giving clear and transparent information, increasing trust and confidence in the broker.

What are Headway’s advantages over its competitors?

Headway provides attractive spreads at 0.3 pips and 0% fees on various account types, resulting in cost-effective trading.

What differentiates Headway in terms of safety and security?

Headway promotes safety with separated client money, negative balance protection, and clear fee schedules to provide traders piece of mind.

Safety and Security

Headway prioritizes the safety of South African traders by rigorously adhering to the standards set by the Financial Sector Conduct Authority (FSCA), which is in charge of monitoring financial services in the nation. These restrictions provide crucial security for traders by ensuring that the broker follows local laws and procedures.

Being regulated by the FSCA reflects Headway’s commitment to maintaining high levels of openness, honesty, and accountability in its business operations.  This implies that South African traders may be comfortable with their assets being safe with regulatory authorities, reducing the possibility of fraudulent activity or misconduct.

In addition to following FSCA laws, Headway employs robust security measures such as encryption technologies to safeguard sensitive data and transactions. These procedures strengthen the security of traders’ money and personal information.

Does Headway provide a compensation fund for customer protection?

No, they do not. However, while Headway does not provide compensation funds, it does provide negative balance protection and follows tight KYC and AML standards to protect its customers’ interests.

How does Headway promote fair and transparent trade practices?

Headway offers open fee schedules, market execution, and rapid order execution rates to guarantee that all customers may trade fairly and efficiently.

Sign -Up Bonus and Promotions

Headway offers newly registered traders an enticing $111 sign-up bonus, providing an easy start to their trading journey without needing any initial deposits. This offer lets traders start their trading career with Headway and learn about its features and functionality.

Are there any qualifying criteria for obtaining Headway’s sign-up bonus?

Yes, the $111 sign-up bonus is given only to new traders who register a bonus account with Headway.

Is the sign-up bonus active immediately upon registering with Headway?

The sign-up bonus is triggered immediately upon registration, enabling new traders to begin trading without delay.

Affiliate Program

Affiliates in South Africa who partner with Headway can look forward to various tools intended to help them earn more and promote more effectively. One outstanding feature is the competitive compensation scheme, which allows affiliates to earn up to 42% of the platform’s income. This model pushes partners to expand their customer base and meet certain milestones, resulting in a consistent cash flow.

Headway’s affiliate program also has a three-level partnership structure. This implies that affiliates earn from direct referrals and traders brought in by partners.  This multi-level structure increases income possibilities, making Headway’s affiliate program suitable for individuals looking to maximize the value of their network connections. Furthermore, Headway provides affiliates with various tools and marketing materials to assist them acquire traders and maximize revenue.

These resources include marketing brochures, personalized affiliate links, and tracking tools accessible via the affiliate dashboard. With this help, affiliates may efficiently market Headway across several platforms and channels, increasing their chances of success. Furthermore, affiliates benefit from quick and fee-free withdrawals, allowing them to receive profits without deductions.  Overall, Headway’s affiliate program offers South African partners a profitable chance to monetize their marketing efforts and generate a consistent revenue stream via a reputable brokerage platform.

How can I promote Headway as an affiliate?

Promote Headway using a variety of platforms, including content generation, social media, and email marketing, while adhering to any limitations set by Headway to enhance effectiveness.

How does Headway pay affiliate commissions?

Affiliates can expect to receive their commissions at the times and methods mentioned in the affiliate program rules, guaranteeing quick and easy access to their profits.

Headway Minimum Deposit

What is the minimum deposit needed to create an account with Headway?

The minimum deposit varies by account type: $1 for Cent accounts, $10 for Standard accounts, and $100 for Pro accounts.

Is there any change in features or access depending on the minimum deposit amount?

Yes, the minimum deposit amount impacts the type of account and its characteristics, including spreads, fees, and the number of markets available.

Headway Account Types and Features

Headway Cent Account

The Cent account is beneficial for beginners since it offers a low-risk entrance point into the trading world. With its cent value, this account lets traders begin with smaller amounts, making it suitable for those new to forex trading or with little funds to invest.

Headway Standard Account

The Standard account provides a versatile choice for traders seeking more sophisticated features and capabilities. It gives traders access to diverse trading instruments and lets them tailor their trading experience to their tastes.

Headway Pro Account

For more experienced traders, the Pro account provides better trading conditions and other incentives.  The Pro account, which includes advantages like zero pips and commission-free trading on select accounts, is intended to fulfill the demands of professional traders looking for competitive pricing and excellent execution.

Headway Demo Account

Headway also provides a Demo account, which allows traders to practice their strategies, practice trading, and familiarise themselves with the platform’s features without risking real money.

Headway Islamic Account

Headway also provides Islamic accounts for South African traders that follow Islamic standards. This account type complies with Sharia law, allowing traders to participate in forex trading while upholding their religious convictions.

Is there any variation in the spread between the different account types provided by Headway?

Yes, spreads vary by account type, with Cent and Standard accounts beginning at 0.3 and the Pro account at 0.0 pips.

Does Headway provide commission-free trading for any of its account types?

Yes, Headway provides commission-free trading on Cent and Standard accounts, but the Pro account charges a $3 fee for each round-turn transacted.

How to Open a Headway Account

To open an account with Headway, South Africans can follow these steps:

Step 1: Go to the official Headway website.

Step 2: Click the “Get Started” or “Personal Area ” buttons to register.

Step 3: Complete the registration form with personal information, including your name and email address.

There will be documents that are requested to fill in, such as the following :

• Select the preferred account type from the selections, such as Cent, Standard, or Pro.
• Choose your account denomination from USD, EUR, IDR, JPY, or THB.
• Complete the registration process by clicking the link emailed to your registered email address.
• Log in to the Headway platform using the credentials you created during registration.
• To fund your account, go to the platform’s deposit area.
• Select your preferred deposit method.
• Specify the amount to deposit and the currency in which the money will be deposited.
• Follow the steps to finish the deposit transaction, ensuring accuracy throughout.
• Wait for the deposited money to appear in your Headway trading account, which might take up to a few business days, depending on the deposit type and currency.
• Once the money is in the trading account, South African traders may begin investigating the many trading possibilities provided by Headway in various financial markets.

What account kinds are available, and how can I choose the best one for my needs?

Headway provides Cent, Standard, and Professional accounts. Select an account type depending on your trading style, skill level, and financial needs.

How soon after depositing cash can I begin trading on the Headway platform?

Once your account has been financed and validated, you may usually begin trading immediately on the Headway trading platforms.

Headway Base Account Currencies and Basic Order Types

The base account currencies available to South Africans include the following:

• Cent:  USD
• Standard and Pro:  USD, EUR, IDR, JPY, THB

Headway Basic Order Types include:

• A market order can be either a buy or a sell order that executes at the current market price.
• This is the current price displayed on your price chart. If you place a market order, you will be immediately entered at the best available price.
• Market orders are most effective when a trading opportunity requires prompt action.
• Click buy/sell at the market to enter the trade immediately.
• A stop order can be either a buy or sell stop, depending on whether you wish to purchase above or below the market.
• This is useful for trading breakouts or trend continuation strategies when you want the market to continue moving in the same direction.
• Alternatively, if you believe the price will reverse when it reaches a certain price, you can place a limit order.

Trading Platforms

MetaTrader 4

Headway’s MetaTrader 4 (MT4) platform is geared to the unique needs of South African traders.  MT4 is known for its user-friendly interface, making trading easier for beginner and experienced traders.

Its flawless interaction with South African payment systems distinguishes it, which enables hassle-free ZAR deposits and withdrawals. This feature significantly improves accessibility for local investors.  Furthermore, MT4 offers automated trading using Expert Advisors (EAs), which could be tailored to South Africa’s specific trading hours and market conditions.

This degree of customization allows South African traders to automate methods that capitalize on particular market moves, giving them a competitive advantage in domestic and international markets.

MetaTrader 5

MetaTrader 5 (MT5), the successor to MT4, delivers new functionality geared to the different demands of South African traders, including retail and professional investors.

Notably, MT5 supports a wider variety of financial instruments, including shares traded on the top global exchanges, making it an appealing option for traders looking for portfolio diversification beyond Forex.  Furthermore, MT5 offers improved analytical capabilities for navigating South Africa’s shifting economic environment.

With a broader range of technical indicators and timeframes, traders can perform detailed analyses and make well-informed choices, capitalizing on opportunities in both local and worldwide markets.

Can I use Expert Advisors (EAs) on the Headway trading platforms?

Yes, both MetaTrader 4 and MetaTrader 5 enable the use of Expert Advisors (EAs), making it possible to build automated trading methods on the Headway platform.

Does Headway provide a demo account for practicing on its trading platforms?

While no specifics regarding Headway’s trial account are offered, it is probable that, like other brokers, Headway provides a demo account option for traders to practice and get acquainted with the trading platform.

Headway Fees, Spreads, and Commissions

Does Headway charge fees for trades?

Commissions apply solely to the Pro account, where traders are paid $3 each round turn transacted, supplementing the low spreads provided on this account type with a clear commission structure.

Does Headway impose currency conversion costs for transactions involving several currencies?

Yes, currency conversion fees, which are not indicated in the client agreement, might apply to ZAR deposits and withdrawals.

Headway Deposits and Withdrawals

Headway offers South African traders the following deposit and withdrawal methods:

• Bank Wire Transfer
• Debit/Credit Card
• Cryptocurrency
• Electronic Payment Gateways

Headway Deposit Currencies, Deposit and Withdrawal Processing Times

How to make a Deposit with Headway

To deposit funds to an account with Headway, South African traders can follow these steps:

• Log in to your Headway account using your credentials.
• Navigate to the “Deposit” area of your account dashboard.
• Choose your favorite deposit currency from the available choices, which include ZAR and several other global currencies.
• Enter the amount you want to transfer into your Headway account.
• You can choose your preferred payment method from alternatives such as bank wire transfer, debit/credit card, cryptocurrency, or electronic payment portals.
• Follow the instructions to provide the relevant payment information, such as account or credit card information.
• Before finalizing the deposit, double-check that all the information provided is correct.
• Confirm the deposit transaction to start the money transfer procedure.
• Once the deposit has been completed, Headway will send you a confirmation message.

How long do Headway Deposits take?

Funds will be deposited to your Headway account as soon as possible, usually within 1 to 2 business days, depending on the payment type and currency used.

Are there any costs involved with deposits into Headway accounts?

No, Headway does not impose internal deposit fees, so traders can fund their accounts without paying extra expenditures.

How to Withdraw from Headway

To withdraw funds from an account with Headway, South African traders can follow these steps:

• Log in to your Headway account using your credentials.
• Navigate to the “Withdrawal” area of your account dashboard.
• Choose your desired withdrawal method from the available choices, which include bank wire transfer, debit/credit card, cryptocurrency, and electronic payment portals.
• Enter the amount you want to withdraw from your Headway account.
• Provide the essential information for your preferred withdrawal method, such as a bank account or wallet address.
• Before finalizing the withdrawal, double-check the information you supplied for correctness.
• Confirm the withdrawal transaction to start the money transfer procedure.
• Wait for the Headway finance staff to complete your withdrawal request.
• Headway will send you a confirmation message after your withdrawal has been handled successfully.
• Funds will be sent to your specified withdrawal account per the processing timeframes of the withdrawal method chosen.

How long do Headway Withdrawals take?

Headway’s withdrawal processing periods may vary based on the withdrawal type, currency, and further verification procedures.  Withdrawals are often completed quickly, with most options providing rapid turnaround times. Due to typical banking processes, bank wire transactions might take up to two working days.

Is there a withdrawal restriction set by Headway?

Headway may impose withdrawal limitations based on account type, verification status, and regulatory requirements to ensure compliance with relevant rules and security measures.

Headway Education and Research

Headway offers the following Educational and research materials to South African traders:

• Blog
• Articles
• Demo Account
• AI hub
• Blog

Research and Trading Tool Comparison

Does Headway accept any deposit currencies?

Headway supports deposits in various currencies, while exact specifics about accepted currencies are not publicly revealed, enabling accessibility for traders worldwide.

How long does it take for deposits to be reflected in a trader’s Headway account?

Deposits to a Headway account often reflect within two days, depending on the payment method, allowing traders to access trading cash quickly.

Is there a specific market analysis component on the Headway platform?

No, there is not. While Headway offers news updates and blog entries, it lacks a specialized market analysis area.

Are there any limits to the instructional materials provided by Headway?

Yes, there are. While Headway offers excellent articles and a blog for beginners, its teaching resources and research tools are restricted compared to other brokers.

Headway Customer Support

How responsive is Headway’s customer service on social media?

Headway’s customer support staff often replies to requests on social media networks within 4 to 5 minutes, giving traders rapid help via these channels.

Is there any unique customer support for Headway affiliates?

Affiliates of Headway can receive support through specialized channels, with response times ranging from 24 to 48 hours, assuring prompt assistance for affiliate-related queries.

Headway vs. XBTFX vs. Exness – a Comparison

User Reviews

🥇 Top Support!

I had some misunderstandings throughout the sign-up procedure and while obtaining the bonus from this broker. However, their customer service crew was swift and helpful, offering rapid advice and quickly resolving my concerns. Congratulations to them for their excellent support! – Lungile Ferreira

🥈 The Best.

With over three years of trading experience, I can certainly declare that this broker is among the best! The trading conditions are superb, with tight spreads and quick withdrawals. I’m looking forward to the introduction of MT5 and the ability to trade equities completely via Headway. – Marissa Meyer

🥉 Exceptional.

My experience with this broker has been exceptional. They gave essential instruction suited to beginners like me, assisting me in distinguishing between trade and gambling. Furthermore, their regular events with large rewards provide a thrilling element to the trading experience. – Morne Brown

Headway Pros and Cons

Headway Risk Warning and Disclaimer for Traders:  South African traders considering Headway should know the hazards associated with trading financial markets.  Although Headway provides a variety of account types and trading tools, including leverage options, traders should be aware that trading has a high risk of financial loss.

Market volatility, unexpected price movements, and economic circumstances all impact trading performance. Furthermore, utilizing leverage can increase earnings and losses, resulting in a considerable capital decrease.

Before trading with Headway or any other brokerage, traders should carefully consider their risk tolerance, financial condition, and investment goals. Risk management and education must be prioritized to traverse the complexity of financial markets effectively.

Our Review Methodology:  For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.  Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements.  Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.

Addendum/Disclosure: No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.

Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all investors. Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.

In Conclusion

In our experience, Headway offers an intriguing prospect for South African traders with varied marketplaces and accounts. The availability of MetaTrader 4 and 5 platforms, together with reasonable spreads and fees, increases the attractiveness to traders looking for affordability and flexibility.

However, according to our findings, the absence of 24-hour customer service and restricted market presence compared to certain rivals are significant disadvantages. Furthermore, transparency difficulties involving cost disclosures, particularly currency conversion fees, generate concerns among prospective traders.

However, we can conclude that despite these disadvantages, Headway’s dedication to safety measures, including FSCA regulation, reassures traders.

Frequently Asked Questions

Is Headway Safe or a Scam?

Headway is a safe and well-regulated broker.

Does Headway have Nasdaq 100?

Yes, NASDAQ is available with Headway.

Does Headway provide instructional materials for beginners?

Yes, Headway offers limited educational materials like articles, a blog, and a demo account.

Is Headway a South African company?

No, Headway is not headquartered in South Africa. However, they are authorized and regulated by the Financial Sector Conduct Authority (FSCA) through JAROCEL PTY LTD to provide services to South African customers.

How long does it take to withdraw from Headway?

Withdrawals from Headway might depend on when the withdrawal is made, and the method used, but it can take up to 2 days.

Which trading platforms does Headway use?

Headway is likely compatible with platforms like MetaTrader 4 and MetaTrader 5.

Does Headway have VIX 75?

No, Headway does not have VIX 85.

Does Headway provide Islamic accounts?

Yes, Headway offers swap-free Islamic accounts that correspond to Islamic banking standards.

Is Headway regulated?

Yes, the FSCA regulates Headway under JAROCEL PTY LTD.

Are there any costs or deductions related to receiving commissions via Headway’s affiliate program?

No, there are no fees. Furthermore, Headway assures that affiliates get their commissions on time and without deductions and swift withdrawals with no fees, allowing affiliates to access their profits quickly and easily.

How does Headway’s dedication to customer service help the program’s affiliates?

Headway’s commitment to offering a safe and regulated trading environment and round-the-clock customer help in many languages increases customer happiness and retention, eventually benefitting affiliates by creating a favorable trading experience for their recommended customers.

Can I reinstate my Headway account after it has been closed?

Yes, in most cases, you can reopen a closed Headway account by contacting customer service and following the reactivation instructions provided by the broker. This might entail having to verify your details again.

Are there any fines or penalties for terminating my Headway account?

No, Headway does not usually charge for account cancellations. However, ensure that all positions are closed to prevent any loss of funds or penalties.

Which Markets Can You Trade with Headway?

South African traders can expect the following range of markets from Headway:

• Forex
• Metals
• Cryptocurrencies
• Energies
• Stocks
• Indices

Can traders monitor the status of their deposits on the Headway platform?

Yes, traders can track the progress of their deposits on the Headway platform using their account dashboard, which provides transparency and insight into their transaction history.

What precious metals are available for trade on Headway?

Traders can trade eight precious metals, including gold, silver, platinum, and palladium, providing options for diversification and hedging against market volatility.

Are there any limits while trading indices with Headway?

Headway allows traders to speculate on the price of 35 global stock market indexes without imposing any substantial limits.

References

FSCA – JAROCEL PTY LTD

HEADWAY – OFFICIAL WEBPAGE