The Irish forex and CFDs broker AvaTrade announced it has set up a South African subsidiary Ava Capital Markets Pty Ltd. It has offices in Johannesburg and is regulated by the country’s Financial Services Board (FSB).
“South Africa is a leading country on this vast continent to build and expand AvaTrade’s African experience from”, says CEO of AvaTrade, Daire Ferguson. “AvaTrade is dedicated to its customers, providing them an innovative and trusted trading environment, and we are happy to extend our services to the African traders and will continue to expand in this important and exciting region”.
The office in Johannesburg is the second African office of AvaTrade. The first one was opened in Nigeria’s largest city, Lagos, in 2015. The South African office is the eleventh international office of AvaTrade. It has divisions in France, Italy, China, Mongolia, Australia, Japan, among others.
AvaTrade was founded in 2006 under the name AvaFx and was renamed in 2010. It offers trading in forex, CFDs on stocks, bonds, commodities and indices. The leverage on forex trading is up to 1:400 and on CFDs is up to 1:200. AvaTrade also offers trading in ETFs, stocks, oil, bitcoin, gold and spreadbetting (only in UK and Ireland). There is the option for a demo account. The minimum required deposit for a live account is $100. The available trading platforms are the popular MetaTrader4 and the broker’s proprietary platform AvaTrader, mobile apps, as well as automated trading platforms. The company offers 24-hour customer support in 15 languages.
Besides in South Africa, the broker is regulated in the EU, via the Central Bank of Ireland, Australia by the Australian Securities & Investments Commission and Japan by the Financial Services Agency and the Financial Futures Association of Japan. It is also a registered financial services company in the British Virgin Islands and is fully licensed and regulated by the British Virgin Islands Financial Services Commission.