Broker News

Avatrade Introduces Rand(ZAR) as Base Currency

avatrade brokerAward-winning CFD broker AvaTrader has recently come up with a new addition that South African traders will be excited with. As per the broker, it has introduced the Rand(ZAR) as a base currency on its trading platform.




AvaTrade - Rand(ZAR) Trading

AvaTrade has introduced the Rand(ZAR) as a base currency on AvaTrade. This will allow traders to deposit, withdraw and trade in the Rand(ZAR) without any conversion fees required. AvaTrade has set the minimum deposit requirement at 1500 Rand. Previously, South African traders had to incur steep conversion fees and use other currencies to invest and trade. But with this addition, AvaTrade’s South African traders can directly use the Rand to trade.

The Rand or ZAR is South Africa’s national currency. The word “Rand” is derived from the word “Witwatersrand” which translates to white waters ridge. Eswatini, Lesotho, and Namibia are three countries that peg their currency with the Rand.


About AvaTrade

Founded in 2006 as AvaFX, AvaTrade is a privately held FX and CFD broker which is headquartered in Dublin, Ireland. It offers a myriad of trading instruments which include cryptocurrencies, forex, stocks, commodities and indices. Its trading platform is compatible with a number of different device types and allows both manual and automated trading.

AvaTrade is best for novice investors and traders who want to understand the forex and CFD markets. While the broker is not regulated by the FCA, it offers several client protection measures such as negative balance protection and AvaProtect( insurance on trades). It also offers social trading via ZuluTrade, DupliTrade, AvaSocial and MQL5 Signal service.

AvaTrade is licensed and regulated by relevant regulatory authorities in the EU, Japan, Australia, South Africa and the British Virgin Islands. The addition of the Rand(ZAR) as a base currency will certainly bolster adoption among trades and investors from South Africa.


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