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Headway Review
Headway is a South African forex and CFD broker with a one dollar minimum deposit. It only holds an FSCA licence and markets unlimited leverage to retail clients.
Min Deposit
$1
Spreads From
0.0 pips (Pro account)
Max Leverage
Unlimited (marketed, varies by instrument)
Platforms
MetaTrader 4, MetaTrader 5
Pros
- Low entry cost with a Cent account minimum deposit of just $1
- Holds a real, checkable FSCA licence under Jarocel (Pty) Ltd, number 52108
- Wide range of over 300 tradable markets, including crypto and stocks
- Client funds are held in segregated accounts at partner banks
- Fast advertised market execution from around 0.16 seconds
Cons
- Only regulated by the FSCA, a lower tier regulator with no compensation fund
- Markets unlimited leverage, which raises real risk for retail traders
- WikiFX lists dozens of recent complaints about withdrawals and frozen accounts
- Does not hold any FCA, ASIC, or CySEC licence despite serving global clients
- No proprietary desktop platform, trading runs only through MT4 and MT5
Headway is a forex and CFD broker based in East London, South Africa. Industry people started the company in 2022, and it opened to the world market in May 2023. Jarocel (Pty) Ltd runs the business and holds FSCA licence number 52108, its only real licence. It has no FCA, ASIC, or CySEC authorisation.
Traders can open a Cent account with $1, a Standard account with $10, or a Pro account with $100. Spreads start from 0.3 pips on Cent and Standard, and from 0.0 pips on Pro. Headway runs on MT4 and MT5, with over 300 markets in forex, crypto, metals, energies, and stocks. It also markets unlimited leverage, which is unusual and adds real risk for new traders.
Headway says it serves 3.4 million traders in over 150 countries and won several broker awards in 2025. Independent site WikiFX gives it a low trust score and lists many recent complaints about withdrawals and frozen balances. The FSCA licence brings fund segregation, but South Africa has no fund like the UK's FSCS.
Min. Deposit
USD 1
Max Leverage
Unlimited (marketed, varies by instrument)
Spreads From
0.0 pips (Pro account)
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
