Overall, JSE Limited, which was previously known as the JSE Securities Exchange and the Johannesburg Stock Exchange, is the largest stock exchange in Africa.
The term “stock exchange” refers to an exchange where stockbrokers and traders can buy and sell securities, including shares of stock, bonds, and other financial instruments.
Selected Stock exchanges may also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividends.
In this in-depth guide you’ll learn:
- FSCA regulation
- JSE brokers
- Johannesburg Stock Exchange brokers
- South African stock trading
- JSE listed companies
- Pros and Cons of FSCA Regulated JSE Brokers
- FAQ of FSCA Regulated JSE Brokers
10 Best Forex Brokers in South Africa for 2025
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JSE Limited is located in Sandton, South Africa. The Financial Sector Conduct Authority (FSCA), is the entity tasked with the supervisory authority of the JSE in the commission of its regulatory duties.
The FSCA is a market conduct regulator of financial institutions that provide financial products and services.
Profitable investing will require investors to select and use a brokerage service that fully aligns with their personal investing goals, educational needs, and learning style.
Choosing the best online stock broker can mean the difference between failure and success.
Here is an overview of the 5 Best FSCA, Financial Sector Conduct Authority, and Regulated JSE, Johannesburg Stock Exchange, Brokers.
Best FSCA Regulated JSE Brokers – 5 Key Point Quick Overview
- ☑️ Absa Stockbrokers and Portfolio Management
- ☑️ PSG Securities Ltd
- ☑️ FNB Stockbroking and Portfolio Management (Pty) Ltd
- ☑️ Momentum Securities (Pty) Ltd.
- ☑️ Afrifocus Securities (Pty) Ltd.
- ☑️ Conclusion
- ☑️ Frequently asked questions
1. Absa Stockbrokers and Portfolio Management
The Absa Stockbrokers and Portfolio Management option offers clients a wide selection of products which range from investing locally and offshore.
The Smart Account option will allow clients to invest in all local JSE™-listed equities (shares), warrants, share installments, and all exchange-traded funds (ETFs) and over 25 offshore exchanges.
The product range also expands to Tax-Free Savings accounts and ETFs only.
Features
| 📊 Category | 💡 Details |
| 🏦 Broker Name | Absa Stockbrokers and Portfolio Management |
| 🌍 Regulation | FSCA Regulated |
| 💻 Trading Platform | Online Platform Available |
| 📈 Services Offered | Stock Trading, Portfolio Management |
| 💰 Minimum Investment | Varies by Account Type |
| 🔧 Tools and Features | Market Insights, Research Tools |
| 🤝 Customer Support | Phone, Email Support |
| 📍 Location | 🇿🇦 South Africa |
| ⭐ Reputation | Trusted JSE Broker |
Pros and Cons
| ✅ Absa Stockbrokers and Portfolio Management Pros | ❌ Absa Stockbrokers and Portfolio Management Cons |
| 30-day free simulated trading Account | TFSA and World Trader accounts are available to Individuals only. |
| Trade telephonically or online | |
| Stop losses provided |
2. PSG Securities Ltd
PSG Securities Ltd. offers clients the option to build their portfolio of local shares in JSE-listed companies through their online platform.
Furthermore, access is made available to more than 35 international stock exchanges and much more.
Features
| 📊 Category | 💡 Details |
| 🏦 Broker Name | PSG Securities Ltd |
| 🌍 Regulation | FSCA Regulated |
| 💻 Trading Platform | Online and Mobile Trading Platforms |
| 📈 Services Offered | Stock Trading, Portfolio Management, ETFs |
| 💰 Minimum Investment | Flexible, depending on account type |
| 🔧 Tools and Features | Market Research, Analytics Tools |
| 🤝 Customer Support | Phone, Email, and Branch Support |
| 📍 Location | 🇿🇦 South Africa |
| ⭐ Reputation | Highly Trusted by Investors |
Pros and Cons
| ✅ PSG Securities Ltd Pros | ❌ PSG Securities Ltd Cons |
| Access to specialist investment expertise and research. | Lengthy registration process. |
| A suitably structured and diversified portfolio. | |
| A tailored portfolio. |
3. FNB Stockbroking and Portfolio Management (Pty) Ltd
FNB allows users to trade in both South African and Global markets through the use of their world-class trading platform.
This includes Shares, Bonds, and Exchange Traded Funds – amongst others.
Features
| 📊 Category | 💡 Details |
| 🏦 Broker Name | FNB Stockbroking and Portfolio Management (Pty) Ltd |
| 🌍 Regulation | FSCA Regulated |
| 💻 Trading Platform | Online Platform via FNB Banking App |
| 📈 Services Offered | Stock Trading, ETFs, Portfolio Management |
| 💰 Minimum Investment | Varies by product and account type |
| 🔧 Tools and Features | Market Data, Research Reports, Analytics |
| 🤝 Customer Support | Phone, Email, and Branch Support |
| 📍 Location | 🇿🇦 South Africa |
| ⭐ Reputation | Known for integration with banking services |
Pros and Cons
| ✅ FNB Stockbroking and Portfolio Management Pros | ❌ FNB Stockbroking and Portfolio Management Cons |
| Access a wide range of investment options | Complicated Customer Service process. |
| Award-winning Portfolio Managers | |
| Daily and weekly Trade Insights |
4. Momentum Securities (Pty) Ltd.
Momentum provides its clients with a full range of stockbroking services which are fully supported by strong management and administrative capabilities.
Features
| 📊 Category | 💡 Details |
| 🏦 Broker Name | Momentum Securities (Pty) Ltd. |
| 🌍 Regulation | FSCA Regulated |
| 💻 Trading Platform | Online Platform and Mobile App |
| 📈 Services Offered | Stock Trading, Portfolio Management, ETFs |
| 💰 Minimum Investment | Flexible, based on account type |
| 🔧 Tools and Features | Research Tools, Market Analysis, Advisory |
| 🤝 Customer Support | Phone, Email, and Branch Support |
| 📍 Location | 🇿🇦 South Africa |
| ⭐ Reputation | Reliable and trusted for wealth management |
Pros and Cons
| ✅ Momentum Securities Pros | ❌ Momentum Securities Cons |
| Traditional trade executions | None Listed |
| An advisory portfolio | |
| Full-service stockbroking |
5. Afrifocus Securities (Pty) Ltd.
Afrifocus Securities is one of the leading stockbroking companies within the JSE.
Afrifocus was recently approved as an Authorized Financial Services Provider (“FSP”) by the FSCA (formerly the Financial Services Board or FSB) and issued with a Category 1 and 2 License.
Features
| 📊 Category | 💡 Details |
| 🏦 Broker Name | Afrifocus Securities (Pty) Ltd. |
| 🌍 Regulation | FSCA Regulated |
| 💻 Trading Platform | Online Platform |
| 📈 Services Offered | Stock Trading, Portfolio Management |
| 💰 Minimum Investment | Varies by account and service offered |
| 🔧 Tools and Features | Market Insights, Trading Tools |
| 🤝 Customer Support | Phone, |
| 📍 Location | 🇿🇦 South Africa |
| ⭐ Reputation | Well-regarded for its personal service |
Pros and Cons
| ✅ Afrifocus Securities Pros | ❌ Afrifocus Securities Cons |
| All portfolio managers are registered by the FSCA as Representatives of Afrifocus Wealth Management | Does not manage Unit Trusts |
| Partnered with Allan Gray | |
| Distributes unit trusts and collective investment schemes |
How to Choose a Stock Broker
Investors should first determine their own, personal investment style and match this with a Stock Brokerage firm that charges the least amount of money for the selection of services they are most likely to use.
Secondly, Investors should Compare all the costs involved in buying, selling, and holding stocks and other securities through their selected broker.
Investors should not only compare commissions but also add other costs, including margin interest and other service charges to their list.
Stock Brokers fall into two categories.
Execution- Only or Discount Brokers
Execution-only or discount brokers carry out an investor’s trading instructions, either online or by phone.
Advisory or Full-Service Brokers
Advisory or full-service brokers will discuss an investor’s portfolio and investment ideas.
The investors make the final decision, but advice will be given.
Some advisory brokers will offer discretionary services to investors with large portfolios, where they will manage the client’s money on their behalf.
However, advisory services will come at an additional cost.
Crucial considerations and questions to keep in mind include:
Active or Passive Investor
Investors should determine if they are Active or Passive investors. Would they like to invest full-time or execute day or swing trades?
Types of Trades
Investors should determine if they simply need a platform that makes the process quick and easy or if a stock broker who offers a broader range of resources, will be needed.
Customer Services and available Assistance
Investors should determine if they will be taking on investing in a “do it yourself” fashion by learning to interpret charts and financial data to execute their own trades or if they would prefer to hire a professional to assist in the process. Investors should ask themselves
- What type of resources will be needed?
- Are educational resources needed and readily available?
- Would they trade online or via a phone call to their chosen broker?
Investment Goals
It is important for any investor to establish what their investment goals are. Will they be supplementing their income or will this become a primary income over time? Only once these questions have been answered, can a course of action be chosen.
Best FSCA Regulated JSE Brokers
Conclusion
The single most important step for choosing a stock brokerage firm is comparison.
Once a shortlist of firms has been selected, investors should sign up with multiple brokers via demo accounts in order to make the most informed choice.
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Frequently asked questions
What is the JSE stock exchange?
JSE Limited, which was previously known as the JSE Securities Exchange and the Johannesburg Stock Exchange, is the largest stock exchange in Africa.
Why do companies list on the JSE stock exchange?
Listing on the JSE stock exchange enables companies to raise capital and in turn, promote improvements in their company.
What does the term “Stock” refer to?
A stock, which is also referred to as equity, is a security that represents the ownership of a fraction of a corporation.
What does the term “Stock Market” refer to?
The term stock market refers to a collection of markets and exchanges where regular activities of buying, selling, and issuing of shares of publicly-held companies take place.
What is the financial sector conduct authority, FSCA?
The Financial Sector Conduct Authority or FSCA is a market conduct regulator of financial institutions that provide financial products and services.
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