The Financial Sector Conduct Authority (FSCA) is a regulatory body in South Africa for the non-banking financial services sector. FSCA has been responsible for regulating the non-banking financial services industry since 2018.
This is a list of the best FSCA-regulated forex brokers in South Africa
In this in-depth guide you’ll learn:
- What is the role of the FSCA
- Definition of FSCA
- List of FSCA regulated brokers
- Description of ODP license
- Is forex trading legal in South Africa?
- Can forex brokers in South Africa be trusted?
- Regulation requirements of forex brokers in South Africa?
- How can you protect yourself from being scammed?
And lots more…
Let’s dive right in…
Best FSCA Regulated Forex Brokers in South Africa
📈Trading as | 📛FSP Name | 🔢FSP No | ✅Status |
---|---|---|---|
📈 AvaTrade | Ava Capital Markets (Pty) Ltd | 45984 | Verified |
📈 Easy Equities | First World Trade (Pty) Ltd | 22588 | Verified |
📈 Exness | Vlerizo (Pty) Ltd | 51024 | Verified |
📈 FXCM | FXCM SA (Pty) Ltd | 46534 | Verified |
📈 GT247 | Purple Group | 46315 | Verified |
📈 HotForex | HF Markets Limited | 46632 | Verified |
📈 IG Markets | IG Markets SA Limited | 41393 | Verified |
📈 Infinox | Infinox Capital (Pty) Ltd | 50506 | Verified |
📈 Markets.com | TradeTech Markets SA (Pty) Ltd | 46860 | Verified |
📈 Pepperstone | Pepperstone Group Limited | 49497 | Verified |
📈 Plus500 | Plus500 AU (Pty) Ltd | 47546 | Verified |
📈 QuickTrade | QuickTrade (Pty) Ltd | 45262 | Verified |
📈 ThinkMarkets | TF Global Markets SA (Pty) Ltd | 49835 | Verified |
📈 Tickmill | Tickmill (Oracle) SA Limited | 49464 | Verified |
📈 Velocity Trade | Velocity Trade Financial Services (Pty) Ltd | 43295 | Verified |
Definition of FSCA
- FSCA was established as a successor to the Financial Services Board (FSB). It is an independent body and has a mandate to supervise and regulate the non-bank financial services industry in the public interest.
- The Financial Sector Conduct Authority (FSCA) is a relatively newly-established governing body, although it has its roots in the old Financial Services Board (FSB). The FSCA is highly regarded as a competent regulatory authority in South Africa.
- The FSB was originally founded as part of the FAIS Act of 2003 to root out and deal with corruption and improper dealings within insurance and pension companies.
- The regulations created to govern the insurance and pensions industry were not effective in regulating exchange-traded products or CFDs. Forex scams and bad brokers were doing real damage to the industry and getting away with it.
- The forex industry in South Africa had a bad reputation because so many investors fell victim to unscrupulous brokers. It was extremely difficult for honest, legitimate forex brokers to operate in the industry because they were painted with the same tar brush.
- The FSCA is following due process to introduce a new regime aimed at cleaning up the forex and CFD industry. The proposed regime will provide the FSCA with a real chance to stamp out scams and illegal bonus promotions in the South African forex market and create an environment where traders and investors are treated fairly.
Note: FSB was the governing body responsible for the regulation of the non-banking financial services industry in South Africa from 1990 to 2018.
Best FSCA Regulated Forex Brokers in South Africa
- ✅ AvaTrade – Overall, One of the top brokers regulated by FSCA
- ✅Easy Equities – A leading platform and broker
- ✅Exness – Provides complete transparency following FSCA regulations
- ✅FXCM – Deposit & trade in Crypto
- GT247 – More than 65 currency pairs available
- HF Markets (Formally HotForex ) – Leading online trading experience
- IG Markets – Provides Round the clock support
- Infinox – Offers low spread and global market
- Markets.com – Risk management tools available
- Pepperstone – Low spread trading broker
- Plus500 – Provides Real time quotations
- QuickTrade – Same day withdrawals
- ThinkMarkets – Contain 10 Licenses including FSCA
- Tickmill – Offers Social trading
- Velocity Trade – Regulated and licensed in local jurisdictions
Note: SARB is the primary financial regulator in South Africa and its purpose is to achieve a sound, efficient banking system in the interest of the depositors of banks and the economy as a whole. Currently, the foreign exchange (forex) industry in South Africa is not formally regulated in the same way licensed financial institutions are regulated by the South African Reserve Bank (SARB). It is recommended that forex brokers in South Africa become authorized by FSCA but it is not obligatory.
10 Best Forex Brokers for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
AvaTrade
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 𝗙𝗦𝗣 𝗡𝘂𝗺𝗯𝗲𝗿 |
---|---|---|
AvaTrade | 👉Click Here | 45984 |
Access to a range of financial markets, such as currency, equities, commodities, and cryptocurrencies, is offered via the reputable online trading platform AvaTrade. The Central Bank of Ireland, the Financial Sector Conduct Authority in South Africa, and the Australian Securities and Investments Commission are just a few of the international financial regulators that oversee AvaTrade as of my most recent information update from January 2022.
Min Deposit
USD 100
Regulators
ASIC, FSA, CBI, BVI, FSCA, FRSA, ISA
Trading Desk
MT4, MT5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
It is advised to confirm the most recent regulatory information directly from AvaTrade’s official sources as precise details, such as FPS registration, may differ by jurisdiction and are subject to change.
Easy Equities
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 𝗙𝗦𝗣 𝗡𝘂𝗺𝗯𝗲𝗿 |
---|---|---|
Easy Equities | 👉Click Here | 22588 |
First World Trader (Pty) Ltd t/a EasyEquities is the company behind EasyEquities, a regulated over-the-counter derivatives provider (ODP 44), a registered credit provider (NCRCP12294), and an approved financial services provider (FSP 22588).
Min Deposit
USD 0
Regulators
FSCA
Trading Desk
EasyEquity
Crypto
Yes
Total Pairs
Not Indicated
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
You agree to be governed by the legal terms and conditions governing all trades made on the EasyEquities platform. Investors can purchase whole shares and fractional security rights (FSRs) through the EasyEquities platform.
Exness
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 𝗙𝗦𝗣 𝗡𝘂𝗺𝗯𝗲𝗿 |
---|---|---|
Exness | 👉Click Here | 51024 |
Exness is a well-known online forex broker that offers trading services to customers all around the world. Exness is overseen by the Cyprus Securities and Exchange Commission (CySEC) in Cyprus and the Financial Conduct Authority (FCA) in the United Kingdom as of my most recent information update in January 2022, guaranteeing adherence to financial regulations.
Min Deposit
USD 10
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
97
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Nonetheless, FPS (Faster Payments Service) registration details are often unrelated to forex brokers such as Exness, since FPS is a widely used electronic payment system for quick and safe transactions in the banking and financial domain.
FXCM
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 𝗙𝗦𝗣 𝗡𝘂𝗺𝗯𝗲𝗿 |
---|---|---|
FXCM | 👉Click Here | 46534 |
A well-known online forex and CFD (Contracts for Difference) trading platform is FXCM, or Forex Capital Markets.
Min Deposit
USD 100
Regulators
FCA, CySEC
Trading Desk
MT4, TradingView Pro, Trading Station
Crypto
Yes
Total Pairs
10+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
FXCM is governed by a number of financial authorities as of my most recent knowledge update in January 2022, including the Australian Securities and Investments Commission (ASIC) in Australia and the Financial Conduct Authority (FCA) in the United Kingdom.
GT247
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 𝗙𝗦𝗣 𝗡𝘂𝗺𝗯𝗲𝗿 |
---|---|---|
GT247 | 👉Click Here | 46315 |
Online trading services are available from GT247, a financial services firm based in South Africa. The services include access to equities, currencies, and commodities.
Min Deposit
USD 0
Regulators
FSC
Trading Desk
MT5, Webtrader
Crypto
No
Total Pairs
65+
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
However, while FPS is a technology frequently used for quick and secure electronic payments in the context of banking and financial transactions, information on FPS (Faster Payments Service) registration is not normally associated with financial service providers like GT247.
HF Markets (Formally HotForex )
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 𝗙𝗦𝗣 𝗡𝘂𝗺𝗯𝗲𝗿 |
---|---|---|
HF Markets | 👉Click Here | 46632 |
HF Markets, a reputable online forex and commodities broker with a global trading clientele, is commonly referred to as HotForex.
Min Deposit
USD 0
Regulators
CySEC, FCA, FSA, DFSA, FSCA, CMA
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
The Financial Services Commission (FSC) in Mauritius, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Conduct Authority (FCA) in the United Kingdom are among the financial authorities that oversee HotForex.
IG Markets
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 𝗙𝗦𝗣 𝗡𝘂𝗺𝗯𝗲𝗿 |
---|---|---|
IG Markets | 👉Click Here | 41393 |
Popular online trading platform IG Markets provides access to a range of financial assets, such as stocks, indices, currency, and commodities.
Min Deposit
USD 0
Regulators
FSCA
Trading Desk
MT4
Crypto
Yes
Total Pairs
80+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Provides 17 000 markets across a range of platforms. IG Markets offer low spreads on more than 70 trading instruments including contracts for difference (CFDs).
Infinox
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 𝗙𝗦𝗣 𝗡𝘂𝗺𝗯𝗲𝗿 |
---|---|---|
Infinox | 👉Click Here | 50506 |
INFINOX is an international corporation recognized as Forex Broker established in London and completely approved and regulated by the Financial Conduct Authority (FCA) and by the Securities Commission of The Bahamas (SCB).
Online trading services, such as FX and commodities trading, are offered by financial services provider Infinox. A registered and internationally renowned FX and CFD broker.
Min Deposit
USD 1
Regulators
FSC, SCB
Trading Desk
MT4, MT5, INFINOX Platforms, IX Social, IX ONE
Crypto
Yes
Total Pairs
45+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
A registered and internationally renowned FX and CFD broker. With a global presence in more than 15 countries, providing excellent client service and competitive trading conditions.
Markets.com
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 𝗙𝗦𝗣 𝗡𝘂𝗺𝗯𝗲𝗿 |
---|---|---|
Markets.com | 👉Click Here | 46860 |
A variety of financial instruments, such as currency, equities, indices, and commodities, are accessible through the online trading platform Markets.com.
Min Deposit
USD 100
Regulators
FSC, FSCA
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
57
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Exchange a wide range of financial instruments. Stocks. ETFs, bonds. goods and services. Currency. Every kind of asset is available for trading on markets.com through our spread-betting and CFD platforms.
Pepperstone
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 𝗙𝗦𝗣 𝗡𝘂𝗺𝗯𝗲𝗿 |
---|---|---|
Pepperstone | 👉Click Here | 49497 |
Pepperstone is a well-known Australian online FX and CFD broker that offers trading services all over the world. With over 1000+ trading instruments available.
Min Deposit
USD 10
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MT4, MT5, cTrader, TradingView
Crypto
Yes
Total Pairs
1000+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Pepperstone is governed by respectable financial authorities, such as the Australian Securities and Investments Commission (ASIC) in Australia and the Financial Conduct Authority (FCA) in the United Kingdom, as of my most recent knowledge update in January 2022. This ensures compliance with strict financial regulations to safeguard traders and uphold market integrity.
Plus500
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 𝗙𝗦𝗣 𝗡𝘂𝗺𝗯𝗲𝗿 |
---|---|---|
Plus500 | 👉Click Here | 47546 |
The well-known online trading platform Plus500 makes it easier to trade a variety of financial assets, including CFDs on indices, stocks, currency, and commodities.
Min Deposit
USD 100
Regulators
CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA
Trading Desk
WebTrader
Crypto
Yes
Total Pairs
71
Islamic Account
On Request
Trading Fees
Low
Account Activation
24 Hours
The Australian Securities and Investments Commission (ASIC) in Australia, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Conduct Authority (FCA) in the United Kingdom oversee Plus500. Strict regulatory standards are adhered to in order to protect traders’ interests.
QuickTrade
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 𝗙𝗦𝗣 𝗡𝘂𝗺𝗯𝗲𝗿 |
---|---|---|
QuickTrade | 👉Click Here | 45262 |
QuickTrade offers Micro Indices, Indices, US CFDs, Commodities, Currencies together with MetaTrader 5 trading platform and technical support for 7 days a week.
Min Deposit
USD 0
Regulators
FSCA
Trading Desk
MT5
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
QuickTrade, a licensed financial services provider, is dedicated to being the go-to broker for individual traders by giving them access to international markets and tradable securities.
ThinkMarkets
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 𝗙𝗦𝗣 𝗡𝘂𝗺𝗯𝗲𝗿 |
---|---|---|
ThinkMarkets | 👉Click Here | 49835 |
ThinkMarkets is an online brokerage that offers trading services for CFDs and FX, among other financial products. On the foreign exchange market, trade the most widely used major, minor, and exotic currency pairs worldwide.
Min Deposit
USD 0
Regulators
ASIC, FCA, FSCA, FSA-Seychelles, CySEC, JFSA
Trading Desk
MT4, MT5, ThinkTrader
Crypto
Yes
Total Pairs
49
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Get access to 23 global indexes and over 3,600 share CFDs. Select from the most well-liked precious metals, including platinum, silver, and gold. Take a long or short position in commodities, such as natural gas (NGAS), coffee, and cocoa, as well as the US and global oil benchmarks Brent Crude Oil (BRENT) and West Texas International (WTI).
Tickmill
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 𝗙𝗦𝗣 𝗡𝘂𝗺𝗯𝗲𝗿 |
---|---|---|
Tickmill | 👉Click Here | 49464 |
Tickmill is an internet-based trading platform providing services for foreign exchange and additional financial instruments.
Min Deposit
USD 100
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Several financial regulators oversee Tickmill, including the Financial Conduct Authority (FCA) in the UK and the Financial Services Authority (FSA) in the Seychelles.
Velocity Trade
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 𝗙𝗦𝗣 𝗡𝘂𝗺𝗯𝗲𝗿 |
---|---|---|
Velocity Trade | 👉Click Here | 43295 |
Global financial services company Velocity Trade offers professional and institutional clients online trading solutions. As a regulated broker, Velocity Trade is subject to laws and authorization from the FCA, IIROC, ASIC, FSCA, and FMA.
Min Deposit
USD 0
Regulators
ASIC, FCA, IIROC, FSCA, FMA
Trading Desk
MT4
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Velocity Trade is subject to stringent regulatory regulations, which are enforced by the Australian Securities and Investments Commission (ASIC) in Australia and the Financial Conduct Authority (FCA) in the United Kingdom.
Can Forex brokers in South Africa be trusted?
There are several forex brokers in South Africa that have a proven track record for honesty, integrity, and fair trading. You can find these companies listed on websites like Forex Trading Africa that compare forex brokers in South Africa and conduct extensive broker reviews.
Forex brokers who are not registered members of the FSCA or an overseas regulatory authority are considered highly dubious. Unregulated brokers can offer unlimited leverage and market promotional bonuses that make them look very appealing to local traders without consequences. If what they are promising is a scam, traders and investors have no safeguards and no recourse.
You’ll find all the reputable forex brokers in South Africa are members of the FSCA or regulatory authority in another country. This provides peace of mind that the forex broker understands the rules and regulations governing the forex industry and is likely to abide by the Code of Conduct of the regulatory authority.
Any forex broker you consider trading through should be transparent with regard to whether the company is a registered member of the FSCA or an overseas regulatory authority. If they are not, this raises a red flag over the company’s standing in the forex industry.
Regulation Requirements of Forex brokers in South Africa
The FSCA requires a forex broker to have a local presence in South Africa. This involves having a local office and at least one director residing in South Africa.
The following is also required by the FSCA of regulated forex brokers:
➡️️ Professional indemnity insurance
➡️️ Client funds are segregated from their own operating funds
➡️️ Audited on a regular basis to ensure client funds are not misused
➡️️ Have an ODP license
Description of ODP license
📌The Over-the-counter Derivative Provider (ODP) license is part of a new regulatory regime for South African forex brokers that the FSCA is in the process of evaluating and implementing.
📌To obtain an ODP license, forex brokers will be required to conduct due diligence on their clients before they can trade high-risk products such as forex.
📌The new licensing regime will also introduce stricter capital adequacy requirements as well as require access to all transaction details including instrument type, underlying asset, price, leverage used, and the investor’s name and country of residence.
📌The aim of the ODP license is to ensure forex brokers treat all clients fairly and do not engage in unprincipled or illegal activity.
📌Currently, the FSCA requires all its members to have a physical presence in the country and to provide continuous access to all transaction data to the FSCA. This will be enforced more keenly through the new ODP licensing.
How to protect yourself from being scammed by a dodgy Forex broker
Forex trading is the largest and most liquid market in the world. Approximately US$6 trillion is traded daily on the global market. With this amount of money being traded online every day of the week, the forex market is wide open to scam artists.
Forex brokers have been accused of running everything from pyramid schemes to Ponzi schemes. Believe us when we say, there have been many variants of these schemes that warrant a bad reputation. However, these crimes are being stamped out through more stringent regulations, both locally and overseas.
𝗧𝗶𝗽𝘀 | 𝗗𝗲𝘁𝗮𝗶𝗹𝘀 |
---|---|
𝗧𝗶𝗽 #𝟭 | It’s strongly recommended that you only use a forex broker that is regulated by the FSCA or can prove the company is regulated by an authority in another country. The regulatory credentials should be clearly stated on its website and the company needs to be totally transparent on its membership status. |
𝗧𝗶𝗽 #𝟮 | The best way to avoid falling victim of a forex broker scam is to trade over a secured platform that only regulated brokers can provide their clients. MetaTrader is the most popular trading platform in the world. There are two versions: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Nine out of 10 forex brokers offer MT4 because it is easy to use, reliable and fully functional. |
𝗧𝗶𝗽 #𝟯 | Check the forex broker’s membership status with the FSCA. You can do this by reading broker reviews online or through the FSCA itself. |
𝗧𝗶𝗽 #𝟰 | Check whether there has been any legal action taken against the company. You’ll pick this up online on sites that publish complaints and bad reviews on companies. |
𝗧𝗶𝗽 #𝟱 | Check if there is a physical address for a local office for the broker. The FSCA requires a registered member to have a local presence which means having a permanent office in the country and at least one director of the company residing in South Africa. |
𝗧𝗶𝗽 #𝟲 | Educate yourself on the forex trading market so you maintain full control of your money. Find out what forex scams are in the market, how legitimate forex trading works and which forex brokers are honest and reliable. The more you know about forex trading, the less likely the chances are of falling victim to a scam. |
𝗧𝗶𝗽 #𝟳 | Don’t believe false promises of quick profits and no financial risks. The forex market is high leverage and inherently high risk. More people lose money on the forex market than they make profits. If something sounds too good to be true, the chances are it’s a scam. |
10 Best Forex Brokers for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
FSCA Regulated Non-Bank Brokers: Derivative and Forex instruments
𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗮𝘀 | 𝗙𝗦𝗣 𝗡𝗮𝗺𝗲 | 𝗙𝗦𝗣 𝗡𝗼 | 𝗦𝘁𝗮𝘁𝘂𝘀 |
---|---|---|---|
🥇 AvaTrade | Ava Capital Markets (Pty) Ltd | 45984 | Authorized ✔️ |
🥇 Easy Equities | First World Trade (Pty) Ltd | 22588 | Authorized ✔️ |
🥇 Exness | Vlerizo (Pty) Ltd | 51024 | Authorized ✔️ |
🥇 FXCM | FXCM SA (Pty) Ltd | 46534 | Authorized ✔️ |
🥇GT247 | Purple Group | 46315 | Authorized ✔️ |
🥇 HotForex | HF Markets Limited | 46632 | Authorized ✔️ |
🥇IG Markets | IG Markets SA Limited | 41393 | Authorized ✔️ |
🥇Infinox | Infinox Capital (Pty) Ltd | 50506 | Authorized ✔️ |
🥇 Markets.com | TradeTech Markets SA (Pty) Ltd | 46860 | Authorized ✔️ |
🥇 Pepperstone | Pepperstone Group Limited | 49497 | Processing ⌛ |
🥇 Plus500 | Plus500 AU (Pty) Ltd | 47546 | Authorized ✔️ |
🥇 QuickTrade | QuickTrade (Pty) Ltd | 45262 | Authorized ✔️ |
🥇 ThinkMarkets | TF Global Markets SA (Pty) Ltd | 49835 | Authorized ✔️ |
🥇 Tickmill | Tickmill (Oracle) SA Limited | 49464 | Authorized ✔️ |
🥇 Velocity Trade | Velocity Trade Financial Services (Pty) Ltd | 43295 | Authorized ✔️ |
Conclusion
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Disclaimer
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. Forex trading is a highly leveraged product that increases the risk associated with forex trading. Carefully consider your appetite for risk and trade forex with due care and caution.
Frequently Asked Questions
Who are the best FSCA-regulated forex brokers in South Africa?
FXCM, FXPRO, IG Markets, FXTM, Avatrade
What is the role of the FSCA?
The FSCA is highly regarded as a competent regulatory authority in South Africa. The FSCA is a relatively newly-established governing body, although it has its roots in the old Financial Services Board (FSB).
Is forex trading legal in South Africa?
Forex trading is legal in South Africa, as long as traders and brokers abide by the financial laws of the country.
Can forex brokers in South Africa be trusted?
There are several forex brokers in South Africa that have a proven track record for honesty, integrity, and fair trading.
What is an ODP license?
The Over-the-counter Derivative Provider (ODP) license is part of a new regulatory regime for South African forex brokers that the FSCA is in the process of evaluating and implementing.
Is Forex trading legal in South Africa?
Forex trading is legal in South Africa, as long as traders and brokers abide by the financial laws of the country. These laws specifically prevent money laundering and ensure all income earned from forex trading is declared in income tax returns.