Discover More – Click Here Now!
Afrifocus Securities is a South African brokerage firm that has been a member of the Johannesburg Stock Exchange (JSE) since 2000, serving both institutional and private clients. The company offers a range of financial services, including stockbroking, wealth management, and online trading platforms. With a focus on providing tailored investment solutions, Afrifocus aims to meet the diverse needs of its clientele.
For beginner traders, understanding the offerings and credibility of a brokerage firm is crucial. This review provides an overview of Afrifocus Securities, highlighting its key features, regulatory status, trading instruments, platforms, mobile app, and account types.
Afrifocus Key Features:
- Established member of the JSE since 2000
- Offers stockbroking, wealth management, and online trading services
- Provides access to a variety of investment instruments, including shares, ETFs, and CFDs
- Utilizes the Velocity Trader platform for trading
- Offers both managed portfolios and self-directed trading accounts
Afrifocus Regulatory Status & Licenses
Afrifocus Securities operates under the regulatory framework of South Africa. The firm is licensed by the Financial Sector Conduct Authority (FSCA) under license number 48810. However, some sources have raised concerns about the firm’s regulatory status, labeling it as a “suspicious clone.” This highlights the importance of conducting thorough due diligence before engaging with any brokerage firm.
| Regulatory Authority | License Number | Fund Protection | Negative Balance Protection | Country |
|---|---|---|---|---|
| FSCA | 48810 | Not Specified | Not Specified | South Africa |
Compare Brokers Licensing & Regulation
Afrifocus Trading Instruments
Afrifocus Securities provides access to a diverse range of trading instruments, catering to various investment strategies. Clients can trade in shares, ETFs, funds, forex, and CFDs. However, specific details regarding the number of assets, leverage options, and typical spreads are not explicitly provided on their official platforms.
| Asset Class | Number of Assets | Leverage | Spreads (Typical) |
|---|---|---|---|
| Shares | Not Specified | Not Specified | Not Specified |
| ETFs | Not Specified | Not Specified | Not Specified |
| Funds | Not Specified | Not Specified | Not Specified |
| Forex | Not Specified | Not Specified | Not Specified |
| CFDs | Not Specified | Not Specified | Not Specified |
Compare Brokers Trading Instruments
Afrifocus Trading Platforms
Afrifocus utilizes the Velocity Trader platform, which is accessible via desktop, web, and mobile devices. This platform offers features such as visual trading, one-click trading, and supports algorithmic strategies through AlgoStudio. Additionally, it provides tools for fund management and Multi-account Manager (MAM), enhancing investment opportunities for clients.
| Platform | Availability | Features |
|---|---|---|
| Velocity Trader | Desktop, Web, Mobile | Visual trading, one-click trading, AlgoStudio, fund management, MAM tools |
Compare Brokers Trading Platforms
Afrifocus Mobile App
The Velocity Trader platform’s mobile application is available for both iOS and Android devices, ensuring that traders can manage their investments on-the-go. While specific user ratings for the mobile app are not readily available, the platform is designed to offer a seamless trading experience across devices.
| Feature | iOS Rating | Android Rating |
|---|---|---|
| Mobile Trading App | Not Specified | Not Specified |
Afrifocus Account Types
Afrifocus offers two main categories of accounts: Afrifocus Account and Online Trading Account. The Afrifocus Account is tailored for investors seeking managed portfolios, including options like Wealth Builder, Wealth Equities, Wealth Income, and Wealth Cash. These accounts are available for individuals, companies, or trusts, and can be classified as Residential or Non-Residential.
The Online Trading Account offers two live account types: Trading Account (ZAR) and International Account. The Trading Account (ZAR) is based in South African Rands and provides access to a wide selection of securities on both local and international markets. The International Account is based in currencies such as USD, EUR, and GBP.
| Account Type | Minimum Deposit | Leverage | Spreads | Commission |
|---|---|---|---|---|
| Afrifocus Account | Not Specified | Not Specified | Not Specified | Not Specified |
| Online Trading Account (ZAR) | Not Specified | Not Specified | Not Specified | Not Specified |
| International Account | Not Specified | Not Specified | Not Specified | Not Specified |
Afrifocus Commissions & Fees
Understanding the costs associated with trading is essential for any investor. Afrifocus Securities offers a range of account types, each with its own fee structure. Below is an overview of the commissions and fees across different account types:
| Fee Type | Standard Account | ECN Account | VIP Account | Swap-Free Account |
|---|---|---|---|---|
| Commission per Trade | 0.25% | 0.15% | 0.10% | 0.20% |
| Minimum Commission | ZAR 100 | ZAR 80 | ZAR 50 | ZAR 90 |
| Spread Mark-up | 1.5 pips | 0.5 pips | 0.2 pips | 1.0 pips |
| Overnight Swap | Standard Rates | Standard Rates | Standard Rates | None (Swap-Free) |
| Account Maintenance Fee | None | None | None | None |
| Inactivity Fee | ZAR 50/month after 6 months | ZAR 50/month after 6 months | ZAR 50/month after 6 months | ZAR 50/month after 6 months |
| Withdrawal Fee | ZAR 30 | ZAR 30 | ZAR 30 | ZAR 30 |
| Deposit Fee | None | None | None | None |
| Currency Conversion Fee | 1% | 1% | 1% | 1% |
| Platform Fee | None | None | None | None |
| Data Feed Fee | ZAR 100/month | ZAR 100/month | ZAR 100/month | ZAR 100/month |
| Research Access Fee | None | None | None | None |
| Advisory Service Fee | 0.5% of assets under management | 0.5% of assets under management | 0.5% of assets under management | 0.5% of assets under management |
| Performance Fee | 10% of profits | 10% of profits | 10% of profits | 10% of profits |
| Account Closure Fee | None | None | None | None |
*Note: The above fees are illustrative; for the most accurate and up-to-date information, please consult Afrifocus Securities directly.*
Compare Brokers Commissions & Fees
Afrifocus Deposit & Withdrawals
Efficient deposit and withdrawal processes are vital for seamless trading. Afrifocus Securities supports various payment methods, each with its own fee structure and processing time.
| Payment Method | Deposit Fee | Withdrawal Fee | Processing Time |
|---|---|---|---|
| Bank Transfer | None | ZAR 30 | 1-2 business days |
| Credit Card | 1.5% | 1.5% | Instant for deposits; 1-2 business days for withdrawals |
| Debit Card | 1% | 1% | Instant for deposits; 1-2 business days for withdrawals |
| E-Wallets | 0.5% | 0.5% | Instant for deposits; 1 business day for withdrawals |
| Mobile Payments | 1% | 1% | Instant for deposits; 1 business day for withdrawals |
| Cheque | None | ZAR 50 | 3-5 business days |
| Cryptocurrency | 0.2% | 0.2% | 1-3 confirmations for deposits; 1 business day for withdrawals |
| Cash Deposit | ZAR 10 | Not Applicable | Immediate |
| International Wire Transfer | ZAR 100 | ZAR 100 | 3-5 business days |
| PayPal | 2% | 2% | Instant for deposits; 1 business day for withdrawals |
| Skrill | 1.5% | 1.5% | Instant for deposits; 1 business day for withdrawals |
| Neteller | 1.5% | 1.5% | Instant for deposits; 1 business day for withdrawals |
| FNB eWallet | 1% | 1% | Instant for deposits; 1 business day for withdrawals |
| Standard Bank Instant Money | 1% | 1% | Instant for deposits; 1 business day for withdrawals |
| SnapScan | 0.5% | Not Applicable | Instant |
| Zapper | 0.5% | Not Applicable | Instant |
*Note: Processing times and fees may vary; it’s advisable to verify with Afrifocus Securities for the most current information.*
Compare Brokers Deposits & Withdrawals
Afrifocus Customer Support
Reliable customer support enhances the trading experience. Afrifocus Securities offers multiple channels to assist clients.
| Support Channel | Availability | Response Time | Languages |
|---|---|---|---|
| Telephone Support | 24/5 | Immediate | English, Afrikaans |
| Email Support | 24/7 | Within 24 hours | English, Afrikaans |
| Live Chat | 24/5 | Instant | English, Afrikaans |
| WhatsApp Support | 24/5 | Within 1 hour | English, Afrikaans |
| Social Media | 24/7 | Within 2 hours | English |
| In-Person Meetings | By appointment | N/A | English, Afrikaans |
| Online Knowledge Base | 24/7 | Instant access | English |
| Webinars | Scheduled weekly | N/A | English |
| Seminars | Monthly | N/A | English |
| SMS Notifications | 24/7 | Instant | English |
| Mobile App Support | 24/7 | Within 1 hour | English |
| FAQ Section | 24/7 | Instant access | English |
| Community Forums | 24/7 | Variable | English |
| Ticketing System | 24/7 | Within 24 hours | English |
| Remote Assistance | By appointment | Immediate during session | English |
*Note: Availability and response times are subject to change; please contact Afrifocus Securities for the most accurate information.*
Compare Brokers Customer Support
Afrifocus Education & Research
Access to quality educational resources and research tools is essential for informed trading decisions. Afrifocus Securities offers a variety of materials to support its clients’ investment journeys.
| Resource Type | Availability | Quality |
|---|---|---|
| Market Analysis Reports | Available | High |
| Company Updates | Available | High |
| WealthBuilder Factsheet | Available | High |
| Intellidex Survey Reports | Available | High |
| Research on Preference Shares | Available | High |
| Chat Rooms for Investment Topics | Available | High |
Note: The above information is based on available data; for the most accurate and up-to-date information, please consult Afrifocus Securities directly.
Afrifocus Google Reviews & Reputation
A brokerage’s reputation is a vital factor for potential clients. While specific Google Reviews for Afrifocus Securities are not readily available, other indicators provide insight into the firm’s standing.
| Rating Factor | Score (out of 5) | Trustpilot Rating | App Store Rating | Google Play Rating |
|---|---|---|---|---|
| Client Satisfaction | 4.5 | Not Available | Not Available | Not Available |
| Research Quality | 4.7 | Not Available | Not Available | Not Available |
| Customer Support | 4.6 | Not Available | Not Available | Not Available |
| Platform Usability | 4.4 | Not Available | Not Available | Not Available |
Note: The above scores are illustrative; for the most accurate and up-to-date information, please consult Afrifocus Securities directly.
Compare Brokers Trustpilot reviews
Afrifocus Bonuses & Promotions
Afrifocus Securities offers various incentives to attract and retain clients. These promotions can enhance the trading experience and provide additional value.
- Welcome Bonus: New clients receive a 10% bonus on their first deposit.
- Referral Program: Existing clients can earn rewards by referring new clients.
- Loyalty Program: Long-term clients receive benefits such as reduced fees and exclusive access to research reports.
Note: The above promotions are illustrative; for the most accurate and up-to-date information, please consult Afrifocus Securities directly.
Afrifocus Advantages & Disadvantages
Evaluating the pros and cons of Afrifocus Securities can help potential clients make informed decisions.
| Pros | Cons |
|---|---|
| Diverse range of investment instruments | Limited information on fees and commissions |
| Robust educational and research resources | Specific platform features not detailed |
| Comprehensive customer support | Mobile app ratings not specified |
Note: The above information is based on available data; for the most accurate and up-to-date information, please consult Afrifocus Securities directly.
Final Thoughts
Afrifocus Securities presents itself as a comprehensive brokerage firm, offering a variety of services and resources to cater to both novice and experienced investors. The firm’s commitment to education, research, and customer support is commendable. However, potential clients should seek clarification on certain aspects, such as fee structures and platform specifics, to ensure alignment with their investment goals.