Afrifocus Forex Broker

Is Afrifocus Legit？

What 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.

Account Types

　　There are two account categories available with Afrifocus:

• Afrifocus Account
• Online 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 .

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.

The 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.