English

Afrifocus Forex broker specializes in providing foreign exchange trading services, the company's official website https://afrifocus.co..., the company's legitimate regulatory information South AfricaFSCAFinancial Service Corporate to enhance the security of the company's address Johannesburg 31B Impala Road Chislehurston Sandton

Afrifocus Forex Broker

Basic Information

Registered Region

South Africa

Operating Period

Company Name

Afrifocus Securities (Pty) Ltd

Abbreviation

Afrifocus

Company employee

Contact Number

+270110111600

Company Website

https://afrifocus.co.za/

Company address

Johannesburg 31B Impala Road Chislehurston Sandton

Facebook

https://web.facebook.com/profile.php?id=100054539976053

https://x.com/Affsec

Keywords

5-10 years

Suspicious Regulatory License

Self-developed

Suspicious Scope of Business

Suspicious Overrun

High potential risk

Company profile

Overview of Afrifocus Afrifocus Securities is a brokerage based in Johannesburg, South Africa. This firm boasts its advanced platform, excellent customer services and in-depth market research. They offer a wide collection of market instruments, including shares, ETFs, funds, forex, and CFDs.Pros and ConsPros Cons Broad spectrum of market instruments“Suspicious clone” regulatory statusCompetitive trading fees for South African MarketsCharge fees for account maintenance and inactivityRobust trading platformsIs Afrifocus Legit？Regulatory Status Suspected Fake Clone Regulated by FSCALicensed Institution Afrifocus Securities (Pty) LtdLicensed TypeFinancial Service CorporateLicensed Number48810What Can I Trade on Afrifocus？ When you open a brokerage account with Afrifocus, you've got plenty of options for investing. For example, you can invest in Forex, Shares, ETFs, Funds, Structured Products, and CFDs. But if you are looking for cryptocurrency or futures, you won't find them here.Tradable Instruments Supported Forex✔Shares✔ETFs✔Funds✔Structured Products✔CFDs (Stocks, Indices, Commodities, Treasuries)✔Crypto❌Account Types There are two account categories available with Afrifocus:Afrifocus AccountOnline Trading Account Afrifocus provides managed portfolios, including Wealth Builder, Wealth Enquities, Wealth Income, and Wealth Cash. Afrifocus Account is for investors who prefer a hand-off approach, with two account types available--Residential and Non Residential. A professional investment team will help you achieve your investment objectives. You can open Afrifocus Account for individual, company or trust. As for Online Trading Account, Afrifocus offers two live account types: Trading Account (ZAR) and International Account. Trading Account (ZAR) is based in South African Rands (ZAR) and provides unique access to a wide selection of securities and products on both local and international markets. International Account is based in USD, EUR, GBP, etc. The account opening process with Afrifocus is straightforward and user-friendly. Prospective users can sign up for an account through the Afrifocus website or mobile app.Afrifocus Fees South African Markets：The brokerage fee for JSE shares is set at 0.50% of the transaction value with a minimum charge of ZAR 150 per trade. For Top 40 shares, the charge is ZAR 7.00 with a 3.00% margin rate and no minimum fee. JSE CFDs are charged at 0.50%, with margin rates between 5.00% and 25.00%, and a minimum premium of ZAR 50.00. Afrifocus charges different rates for international markets. For US markets, including the NYSE and NASDAQ, the commission is USD 0.03 per share with a minimum trade fee of USD 20.00. In the UK, the London Stock Exchange incurs a commission of 0.35% with a minimum fee of GBP 10.00. European markets such as Vienna, Brussels, and Paris also have a commission rate of 0.35%, with a minimum fee of EUR 15.00. Afrifocus imposes several administrative costs for various services. Withdrawals are charged at ZAR 25.00 for standard and ZAR 250.00 for real-time. Outward portfolio transfers, or exit fees, range from ZAR 50.00 for JSE stocks to USD 60.00 for other stocks, with maximum limits. Additionally, there is a monthly account administration fee of ZAR 129.00 and an inactivity fee of ZAR 100.00 per quarter for accounts inactive for 90 days or more.Trading Platform Velocity Trader platform is available with this firm. It is available on desktop, web, and mobile, allowing users to choose the most suitable option for their needs. This platform provide plenty of featuring tools, including visual trading, one-click trading, and AlgoStudio for algorithmic strategies. Additionally, it supports Fund Management and Multi-account Manager (MAM) tools to expand more investment opportunities for investors .Trading PlatformSupported Available Devices Suitable forMobile App✔IOS and AndroidBeginner or professionalDesktop✔beginner or professionalWeb Trader✔beginner or professionalMT5❌MT4❌Customer Support Options For any question you might have, help is available by phone(+27 11 290 7824) or email (samn@afrifocus.co.za). You can also dig into their social media channels (Facebook, Youtube, Twitter, etc) or hit a button on an online message box.Contact Options DetailsPhone+27 11 290 7824Emailsamn@afrifocus.co.zaSupport Ticket SystemN/AOnline ChatNoSocial MediaFacebook, Youtube, Twitter, etcSupported LanguageN/AWebsite LanguageEnglishPhysical Address31B Impala RoadChislehurstonSandtonThe Bottom Line Whether you're new to investing or a seasoned market player, you'll have a good mix of investment options on Afrifocus Securities' user-friendly platform. The regulatory status is an obvious drawback. And account maintenance and inactivity fees can dip into your returns. Overall, Afrifocus balances a broad spectrum of trading options and platforms with some drawbacks that you need to consider before committing.FAQs Is Afrifocus regulated？ Yes, Afrifocus is regulated by the FSCA under license number 48810. However, its current regulatory status is suspicious clone. Is Afrifocus good for beginners？ Afrifocus provides a great platform for beginners with its user-friendly platfomr and excellent customer support. What are the account options at Afrifocus？ If you're interested in managed portfolios, Afrifocus offers two account options: Residential and Non Residential for individual, company or trust. If you prefer online trading, Afrifocus provides a Trading Account (ZAR) for local markets and an International Account for global markets, with straightforward sign-up and funding processes.Risk Warning Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.

Afrifocus broker review

Is Afrifocus safe or scam

Rating Index

Afrifocus Forex Broker - Complete Information Guide

1. Broker Overview

　　Afrifocus Securities (Pty) Ltd, commonly referred to as Afrifocus broker, was established in 2002 and is headquartered in Chislehurston, Sandton, South Africa. The firm operates as a private entity, catering primarily to retail clients in the South African financial market. Over the years, Afrifocus has established itself as a broker offering various financial services, including forex trading, commodities, and indices.

　　Afrifocus has undergone several developments since its inception, with significant milestones including the acquisition of regulatory licenses and the expansion of its service offerings. The firm positions itself as a competitive player in the retail forex market, providing a platform for traders to engage in various financial instruments.

　　While Afrifocus operates independently, it has connections with other financial entities, notably Velocity Trade, which enhances its service offerings and market reach. The business model of Afrifocus primarily focuses on retail forex trading, offering clients access to a range of financial products and services tailored to individual trading needs.

2. Regulatory and Compliance Information

　　Afrifocus broker is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa under license number 48810. This regulatory oversight provides a level of accountability and operational standards that the firm must adhere to. However, it is essential to note that the FSCA is not as stringent as some other global regulatory bodies, which may result in limited protections for clients.

　　The regulatory license held by Afrifocus is valid for various financial services, including forex trading. Despite being licensed, the regulatory framework in South Africa lacks some of the investor protections found in other jurisdictions, such as the European Union or the United States. For instance, the FSCA does not require client funds to be held in segregated accounts, which could pose risks in the event of financial difficulties faced by the broker.

　　In terms of compliance, Afrifocus adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, ensuring that client identities are verified and monitored to prevent illicit activities. This compliance is crucial in maintaining the integrity of the trading environment.

3. Trading Products and Services

　　Afrifocus broker offers a diverse range of trading products, primarily focusing on forex pairs, commodities, and indices. The firm supports a variety of forex currency pairs, allowing traders to engage in major, minor, and exotic currencies. The exact number of forex pairs available is not specified in the available resources, but the broker's offerings are competitive within the South African market.

　　In addition to forex, Afrifocus provides access to Contract for Differences (CFDs) across various asset classes, including indices and commodities. The broker does not currently offer cryptocurrency trading, which may limit options for traders interested in digital assets.

　　The frequency of product updates and the introduction of new trading instruments are not explicitly detailed in the available information. However, Afrifocus aims to provide a comprehensive trading experience for retail clients, focusing on user-friendly platforms and efficient trading conditions.

4. Trading Platforms and Technology

　　Afrifocus broker supports the widely used MetaTrader 4 (MT4) platform, which is known for its robust features and user-friendly interface. The MT4 platform allows traders to access advanced charting tools, technical indicators, and automated trading capabilities through Expert Advisors (EAs). While the availability of MetaTrader 5 (MT5) is mentioned, confirmation regarding its support is unclear.

　　In addition to MT4, Afrifocus offers a web-based trading platform that provides essential trading functionalities. This platform is designed to be accessible from various devices, ensuring that traders can manage their accounts and execute trades conveniently.

　　For mobile trading, Afrifocus has developed applications compatible with both iOS and Android devices, enabling traders to stay connected and manage their activities on the go. The execution model utilized by Afrifocus is not explicitly stated, but it is essential for traders to understand the implications of different execution methods on their trading experience.

5. Account Types and Trading Conditions

　　Afrifocus broker provides various account types tailored to meet the needs of different traders. The standard account conditions include a minimum deposit requirement of 500 ZAR (approximately $30), though specific details about spreads and commissions are not clearly outlined. Reports indicate that spreads may vary, with some accounts experiencing spreads above 3 pips, which is less competitive compared to industry standards.

　　For advanced traders, Afrifocus may offer specialized accounts, including VIP or professional accounts, although detailed information on these account types is limited. The broker does not appear to provide Islamic accounts or specific corporate account solutions.

　　The minimum trade size is set at 0.01 lots, allowing traders to engage in micro trading. Leverage ratios are not explicitly stated, which may vary based on the trading asset and regulatory environment. Additionally, overnight fees and other trading conditions are not thoroughly detailed, prompting potential traders to inquire directly with Afrifocus for the most accurate information.

6. Fund Management

　　Afrifocus broker supports various deposit methods, including bank transfers and credit cards. The minimum deposit requirement varies by account type, with the standard account requiring a minimum of 500 ZAR. Deposit processing times are generally quick, though specific timeframes are not provided.

　　While Afrifocus does not charge deposit fees for bank transfers, a 2% transaction fee is applied for credit card deposits, which is relatively high compared to other brokers. Withdrawal methods are limited to bank transfers, and clients may incur a withdrawal fee of 250 ZAR (approximately $15), making the overall fee structure less competitive.

　　Withdrawal processing times may vary, and clients are encouraged to check with Afrifocus for the most accurate information regarding their specific account and transaction types.

7. Customer Support and Educational Resources

　　Afrifocus broker offers customer support through multiple channels, including phone, email, and online chat. The primary contact number is +27 (0) 11 290 7800, and support is available during standard business hours in South Africa. The firm provides assistance in English, catering primarily to the local market.

　　In terms of educational resources, the availability of webinars, tutorials, and market analysis services is not well-documented. However, Afrifocus aims to support traders with essential tools, including trading calculators and economic calendars, to enhance their trading experience.

　　Market analysis services, such as daily updates and research reports, are also crucial for traders to make informed decisions. Afrifocus's commitment to providing valuable information and tools is essential for both novice and experienced traders.

8. Regional Coverage and Restrictions

　　Afrifocus broker primarily serves clients in South Africa, with its headquarters located in Chislehurston, Sandton. The firm does not explicitly detail its regional offices, but it focuses on the South African market.

　　Certain countries may be restricted from accessing Afrifocus's services, though specific prohibited regions are not clearly outlined in the available information. Traders are advised to verify their eligibility based on local regulations before opening an account.

　　In summary, Afrifocus broker presents a range of trading options and services tailored to the South African market. However, potential clients should carefully consider the regulatory environment, trading conditions, and fee structures before proceeding with their trading activities.

Afrifocus Similar Brokers

Unverified

Moomoo

Best brokers