The 5 Best New Regulated Brokers in South Africa revealed. We have examined the FSCA’s list of regulatory entities to find the best newly-regulated brokers in South Africa.
This is a complete guide to the 5 Best New Regulated Brokers in South Africa.
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Best New Regulated Brokers in South Africa Revealed – 8 Key Point Quick Overview
- ✅ What is the purpose of the FSCA in South Africa?
- ✅ The 5 Best New Regulated Brokers in South Africa
- ✅ How to Choose the Right Forex Broker in South Africa
- ✅ The Best Forex Brokers in South Africa
- ✅ What are the requirements to be regulated by the FSCA in South Africa?
- ✅ The FSCA and How it Handles Brokers
- ✅ Conclusion
- ✅ Frequently asked questions
In this in-depth guide, you’ll learn:
- What is the purpose of the FSCA in South Africa?
- The 5 Best New Regulated Brokers in South Africa
- How to Choose the Right Broker in South Africa
- The Best Forex Brokers in South Africa
- What are the requirements to be regulated by the FSCA in South Africa?
- The FSCA and How it Handles Brokers
What is the purpose of the FSCA in South Africa?
On April 1, 2018, the Financial Services Board (FSB) was replaced by the Financial Sector Conduct Authority (FSCA), which had been formed as a specific market conduct authority by the Financial Sector Regulation Act 9 of 2017 (the FSR Act).
The FSCA’s mission is to “improve the efficiency and integrity of financial markets, promote fair consumer treatment by financial institutions, offer financial education, and encourage financial literacy.”
The FSR Act expands the FSCA’s purview to include credit- and foreign-exchange-related services and other financial goods and activities that fall beyond the FSB’s purview.
It also requires the FSB to move away from its current compliance-driven paradigm and toward one that is more preventative, proactive, risk-based, and outcome-oriented. Most importantly, the FSR Act seeks to modernize the financial industry and provide access to credit for all people.
The main strategic emphasis areas for the FSCA over the next three years include:
- Building a new organization
- Ensuring an inclusive and reformed financial sector
- Promoting a strong regulatory framework that supports fair customer treatment
- Increasing education among financial consumers
- Increasing the efficiency and integrity of financial markets
- Developing new methods of doing business and disruptive technologies
The 5 Best New Regulated Brokers in South Africa
RCG Markets
RCG Markets (Pty) Ltd. was founded in 2018 as a supplier of intermediary financial services, and its registration number is 2018/079334/07.
Individuals (retail traders/speculators), institutional investors (Hedge Fund Managers), and corporations (Corporate Clients) may all make use of RCG Markets’ direct market access to execute transactions in a wide range of CFDs and FX (Investment Firms).
Some of the benefits of trading with RCG Markets include the following:
- The RCG Markets platform gives traders full authority over all aspects of trading.
- Currency pairings, stocks, metals, energy carriers, indices, and more can be traded.
- Adjustable leverage based on the trajectory of trades.
- Withdrawals settled within two business days.
RCG Markets is licensed with the FSCA license number FSP49769.
- RCG Classic Account – Minimum deposit of 50 ZAR with spreads from 1.5 pips and zero commission charges. South Africans can trade using MetaTrader 4, with leverage up to 1:2000.
- RCG Raw Account – Minimum deposit of 50 ZAR with spreads from 0.0 pips and zero commission charges. South Africans can trade using MetaTrader 4, with leverage up to 1:500.
- RCG ECN Account – Minimum deposit of 50 ZAR with spreads from 1.5 pips and commissions from 7 USD. South Africans can trade using MetaTrader 4, with leverage up to 1:1000.
To help you start trading, RCG provides many different types of accounts that serve as a “blueprint” for copy trading. To start your road toward financial success, choose a trader you believe in and mimic their moves.
RCG Markets offers South Africans access to the following financial instruments that can be traded:
- Forex
- Indices
- Shares
- Commodities and Energies
SAS Capital
SA Stock Brokers is an official introducing broker for Interactive Brokers in South Africa. The firm provides financial services in Category IIA. With SASC’s help, a customer can easily connect with any affiliated firms that provide comprehensive financial services.
The main objective at SASC is to guarantee that all clients’ specific financial service requirements are met by carefully vetted and approved service partners. Accordingly, SAS Capital has applied for FSCA regulation under SA Derivatives (PTY) Ltd.
SASC manages the administration and management of high-net-worth individuals’ investment portfolios. The firm also provides competitive trading costs and dependable, all-encompassing local and global market access across a wide range of asset classes and products.
In addition, SASC has an accredited Forex Department that helps South African consumers make the most of their offshore allowance when transferring cash internationally. The broker also lets clients invest in precious metals by purchasing real commodities.
With SASC, South Africans can access these unique and comprehensive services:
- Investment Management through the firm
- Self-directed investment
- Foreign Exchange trading
- Physical Gold and Silver Trading
Mkhontofinancial.com
Mkhonto Financial is an FX primary brokerage firm that provides customers with cost-effective and efficient access to the foreign currency markets.
The full solution provided by the broker allows you to take advantage of multi-bank liquidity while simultaneously lowering operational consolidation and credit risk.
Clients benefit from a unified legal relationship, operational communication, and credit link. All these aspects enhance Mkhonto Financial’s cost-effectiveness, collateral efficiency, and risk mitigation capabilities.
South Africans may access all their trade contacts via a single link provided by Mkhonto Financial, which simplifies these interactions, removes the costs associated with keeping several references, and enhances operational efficiency.
Mkhonto Financial manages both managed accounts and Prime Brokerage synthetic structured products. In addition, Mkhonto offers prime brokerage services to clients regardless of whether it is securities landing or cash management.
Pre-trade control over client access to liquidity, leverage, and risk is guaranteed by fully automated pre-trade risk management decisions and granular leverage per instrument amid extreme market volatility.
The white-label platform from Mkhonto Financial allows you to install your pricing with simplicity and efficiency. In addition, you can easily use their most recent technology to produce unique solutions that keep your brand’s identity and include the specifications of your bespoke features to distinguish your product offering.
In addition, Mkhonto Financial provides its clients with complete control over the entire platform. Mkhonto Financial also offers MetaTrader 4 and MetaTrader 5, which can easily be used across devices to access financial markets.
Mkhonto Financial is also classified as a Foreign Exchange Prime Brokerage. Central foreign-exchange trading banks offer a service to hedge funds, investors, commodities trading advisors, and other investment and trading firms.
In the 1990s, the concept of the major brokerage was introduced to the stock and bond markets; for the foreign currency community, the prime brokerage concept has been updated and is now an industry standard, particularly for hedge funds and investment businesses.
EasyEquities
EasyEquities (EE), a subsidiary of the JSE-listed Purple Group Limited (PPE), is an online platform that enables anybody to purchase shares in their favourite brands and businesses.
Beginners and seasoned investors alike may develop their wealth with as little as R5, $10, or whatever amount they have available to invest (and without incurring monthly brokerage costs).
As an approved supplier of financial services, EE powered by First World Trader (Pty) places a major emphasis on client satisfaction.
The broker’s objective is to be a reputable and well-known supplier of financial services. The platform’s conception, development, and introduction were motivated primarily by a desire to treat clients properly. Some of the benefits of trading with EasyEquities include the following:
- Simple solutions are presented in a language that is easy to understand, providing South Africans with an intuitive and fun trading experience.
- Zero minimums, no monthly fees, and some of the most competitively low commission charges
- Comprehensive educational materials, a blog, FAQs, and the best research.
- Transparency and the guarantee that all costs are communicated to the trader before they transact. EasyEquities also provides a comprehensive transaction invoice that details all the costs.
To start trading with EasyEquities, traders can:
- Register an account
- Use the 100,000 ZAR demo account to explore the platform
- Choose any of the following accounts:
- ZAR Equity Account
- USD Equity Account
- AUD Equity Account
- ZAR Tax-Free Savings Account
- RA Account
Vault Markets
Vault Markets has over 30 years of combined expertise from industry specialists and focuses on African customers internationally. Vault Markets strives to provide a choice of account kinds so customers can trade under their chosen trading circumstances.
Vault Markets is a certified and regulated broker in South Africa that provides a superior trading experience by adapting your account type to your trading style.
Vault Markets provides several accounts. However, each account can be opened in ZAR, TZS, or USD. Regarding account features, you can anticipate the following:
- Minimum deposit requirements from 5 USD / 90 ZAR.
- Access to MT4 across desktops, browsers, and mobile devices.
- Instant Withdrawals.
- Access to several bonuses and promotions.
- Leverage up to 1:500.
- Access to Forex, Shares, and Indices.
- Spreads from 0 pips EUR/USD.
How to Choose the Right Forex Broker in South Africa
It would be unwise to label all forex brokers as fraudulent. While not all brokerages engage in fraudulent activity, some could engage in tactics that put their customers’ money at risk.
Therefore, it is not the best method to choose a broker only to verify whether they are a fraud or not. However, using the broker’s demo account could give you a more objective assessment when you utilize certain measures.
Client Fund Security
The practice of separating financial assets into separate accounts, often known as “ringfencing,” is mandated by law in several countries. If this is lacking, customers’ money will be at risk of being lost completely if the company goes bankrupt.
Regulatory Status
A forex broker must be registered and regulated by the country’s financial market regulations to process, clear, and settle traders’ money.
Regulated brokers are likelier, to be honest and forthright with their customers about handling their money. Moreover, the consequences of breaking the rules are severe. Subsequently, the regulation establishes channels of responsibility that safeguard the stability of financial markets.
The Financial Sector Conduct Authority (FSCA) requires all South African forex brokers and leading stockbrokers to prominently display their regulatory credentials (license number, etc.) on their website’s landing pages.
Fees
The cost of buying and selling forex pairs has decreased significantly with the development of trading technologies. As a result, fees for forex trades, options trades, mutual fund trades, and ETF trades should all be reasonable with a top-notch online broker.
Therefore, commissions and fees for internet brokers could range from a few ZAR to a few hundred. However, they are often much below the thousands of ZAR typical in the middle to late 20th century.
History and Reputation of the Broker
Regulation is not the only factor to consider when selecting forex brokers in South Africa. Even if a broker is fully compliant with all laws and regulations, there could still be problems with the experience.
Your sole option for determining a broker’s suitability for your forex trading is to review their previous work. Thankfully, there is no shortage of discussion groups and blogs available online.
You can find out how dependable a South African broker is through actual clients’ experiences on these trading blogs. In addition, such third-party sources could shed light on the forex broker’s past performance.
Trading Platforms
Traders that want access to the market in more than one way would benefit from platforms that provide many possibilities. For example, most online forex brokers provide customers access to various trading platforms, including web, desktop, and mobile apps.
Customer Support
A forex broker’s dedication to customers is at the center of each successful trading experience. Therefore, helpful customer service personnel are essential when further information is needed.
A growing number of brokers are adapting their customer service departments to meet their international clientele’s needs better.
Education and Research
Building one’s trading skills might benefit from a comprehensive instructional package. Learning resources for many traders include webinars, live lessons, and articles from professional blogs.
The Best Forex Brokers in South Africa
In this article, we have listed the best forex brokers that offer trading to traders. In addition, we have further identified the brokers that offer additional services and solutions to traders.
Best MetaTrader 4 / MT4 Forex broker in South Africa
Overall, HFM is the best MT4 Forex broker in South Africa. Quick STP execution and four MT4 accounts distinguish HFM, a broker authorized and supervised by the FSCA and several other prominent market regulating entities.
Spreads on the EUR/USD start at 1 pip, and the minimum deposit for a Micro Account is only USD 5 (or a 70 set ZAR). Any newcomer to the Forex market may try out HFM’s MT4 services with an unrestricted demo account.
Best MetaTrader 5 / MT5 Forex broker in South Africa
Overall, FP Markets is the best MetaTrader 5 Forex broker in South Africa. FP Markets is a well-regulated broker that offers South Africans comprehensive MT5 support in hedging, automated trading, and scalping. In addition, FP Markets offers some of the best ECN execution on trades.
Best Forex broker in South Africa for beginners
Overall, XTB is the best Forex broker in South Africa for beginners. XTB offers beginner traders in South Africa comprehensive training materials and a robust Trading Academy. The XTB Trading Academy offers structured courses and direct mentoring.
Best Low Minimum Deposit Forex broker in South Africa
Overall, XM is the best Low Minimum Deposit Forex broker in South Africa. XM is a globally-recognized broker that provides trading services in South Africa via the FSCA. XM charges 5 USD / 90 ZAR when traders register an account.
South African traders can use leverage up to 1:1000, allowing traders to open positions across several markets with zero-pip spreads and competitive commission charges.
Best ECN Forex broker in South Africa
Overall, ThinkMarkets is the best ECN Forex broker in South Africa. ThinkMarkets offers ECN pricing on MT4 and MT5, with spreads from 0.0 pips on EUR/USD. In addition, ThinkMarkets provides South Africans with a choice from several other markets, allowing traders to diversify their portfolios.
Best Islamic / Swap-Free Forex broker in South Africa
Overall, HYCM is the best Islamic / Swap-Free Forex broker in South Africa. HYCM is a large and prominent broker with spreads from 0.1 pips. Even when Muslim traders convert their trading account to an Islamic Account, the pips do not widen.
Muslim traders are subject to a 5 USD admin fee once their position has been opened for 14 days. In addition, traders must note that some financial instruments are not halal and therefore excluded from the HYCM Islamic Account.
Best Forex Trading App in South Africa
Overall, Markets.com is the best Forex trading app in South Africa. With Markets.com, South Africans can trade over 2,200 financial markets via a robust and innovative MarketsX app for iOS and Android.
Markets.com charges competitive spreads from 0.6 pips on EUR/USD without any commissions charged on trades.
Best ZAR Forex broker in South Africa
Overall, Exness is the best ZAR Forex broker in South Africa. South Africans can register a Standard Exness Account with a minimum deposit of 10 USD / 180 ZAR. The accounts’ spreads start from 1 pip, but traders need not worry about commissions.
Exness offers a ZAR-denominated account, which saves traders from costly currency conversion fees when they deposit, withdraw, or trade.
Best Lowest Spread Forex broker in South Africa
Overall, FXTM is the best lowest-spread Forex broker in South Africa. FXTM is an FSCA-regulated broker with spreads from 0.0 pips on major instruments such as EUR/USD. In addition, FXTM offers South Africans powerful trading platforms, including a native app, FXTM Trader, for iOS and Android.
Best Nasdaq 100 Forex broker in South Africa
Overall, Interactive Brokers is the best Nasdaq 100 Forex broker in South Africa. Interactive Brokers (IBKR) is a popular broker serving millions of traders worldwide. Interactive Brokers offers Nasdaq 100 via powerful platforms with competitive pricing.
Best Volatility 75 / VIX 75 Forex broker in South Africa
Overall, AvaTrade is the best Volatility 75 / VIX 75 Forex broker in South Africa. AvaTrade is a multi-asset and multi-award-winning broker. From the 1,260 financial instruments available, South Africans can gain access to the VIX 75 as a CFD on Indices.
Best NDD Forex broker in South Africa
Overall, FXCM is the best NDD Forex broker in South Africa. FXCM is one of the best NDD brokers that provides some of the best pricing aggregated from global liquidity providers. FXCM is also known for its transparency and superior trading services and solutions.
Best STP Forex broker in South Africa
Overall, IG is the best STP Forex broker in South Africa. In addition, IG is one of the oldest brokers in the world and one of the best STP brokers listed on the London Stock Exchange (LSE).
Spreads on IG are competitive, and South Africans can trade more than 19,000 instruments through MT4, the IG trading platforms, and several others.
Best Sign-up Bonus Forex broker in South Africa
Overall, FBS is the best sign-up bonus forex broker in South Africa. FBS is a multi-regulated broker that allows traders to choose between several bonuses when their account is verified. The first is a 70 USD no-deposit bonus that can be increased to $140 in the FBS Trader app.
What are the requirements to be regulated by the FSCA in South Africa?
When applying for a license from the Financial Sector Conduct Authority (FSCA), businesses that deal in OTC derivatives, like forex brokers, must provide certain supporting documentation.
“Application Index 2,” which may be found on the FSCA website, must be completed with the pertinent and essential paperwork to support claims.
The following sections will clearly outline the paperwork and information necessary for forex brokers to apply for their FSCA license.
Operational Capital Requirements
Operating Capital Calculation:
- A three-year plan includes the available capital, anticipated costs and revenue, anticipated profits/losses, cash equivalents, and securities serving as liquid assets for the three years.
- Annual qualification related to anticipated company losses for orderly liquidation.
- According to the application, a description and quantification for each operational, legal, investment, general business, and custody risk.
- Stress testing in conjunction with a scenario analysis framework or stress testing technique.
The following papers must be submitted to verify the information above:
- Annual financial statements.
- Projections of working capital must contain three years of detail and five years that may be less specific.
- Break-even analysis of both earnings and cash flows
- The funding source, if appropriate.
- Evidence of an irrevocable credit line, if applicable.
- A strategy for obtaining capital that includes all required permissions, if appropriate.
- Any assumptions used in the budget production, financial statements, calculations, and other pertinent papers.
- Specifics about the separation and protection of assets.
- Policies and restrictions.
- Verification of financial information.
- Six months’ worth of bank statements.
Fit and Proper
- Confirming and accepting the auditor’s and attorney’s appointments are required.
- Procedures for the election and appointment of members of the governing body, as well as their periods of office and termination of office, must be specified.
- The authority and responsibility of the governing body and top management.
- Procedures for holding meetings with those with an ownership stake in the ODP.
- Voting rights of those who own an equity stake in the ODP.
- Dissolution of the ODP-related procedures.
- Controlling body as well as SAPD Police approval for the top management.
- Official representation from the members of the ruling body.
- Good standing verified according to Section 4.2 of the Criteria for Authorization of ODP.
- Specifics of any offense, if relevant, to any regulatory agency.
- Application forms, which replace Annexure 1 FORM 6, B, and C in the “Criteria for Authorisation of OTC Derivatives Providers under Conduct Standard 1 of 2018.”
- A completed Application Form 1 must be filled out by the ODP’s governing body or senior management.
- A completed Application Form 2, which the provider must fill out.
Adequacy of Human Resources
This consists of the following:
- A schematic of the+ organization of the ODP.
- A management structure that identifies the personnel responsible for significant areas of responsibility.
- The number of workers employed in each functional area.
- The projected number of personnel necessary for ODP operations, if appropriate
- A clear indication of the number of full-time workers assigned to the ODP.
Competency
This part contains the following documentation:
- A comprehensive curriculum vitae of each governing body member and senior management.
- Copies of each controlling body member’s and senior manager’s relevant credentials.
- Copies of each controlling body member’s and senior manager’s identification documents.
Functional Capabilities
This will consist of evidence of the following:
- Proof of the ODP’s physical address.
- Evidence of the provision of suitable communication facilities.
- If necessary, confirmation of off-site and on-site storage facilities and a contract with the supplier of such storage facilities.
- Copy of the company’s incorporation papers.
- Evidence of corporate governance policies and principles.
Risk Management and Internal Control
This needs documentation to demonstrate the following:
- Risk assessment policies, processes, and governance structures that have been approved.
- Enterprise risk management policies and related procedures.
- The ODP’s risk management procedures and escalation procedures.
- Specifics and a thorough overview of the risk assessment processes linked with information technology (IT).
- Composition and terms of reference for the audit and risk committees.
- The official netting policy and liquidity policy.
- Specifics are relevant to risk reports and their publication frequency.
- Schedule for internal audit monitoring and sample reports.
- Reports of errors.
- Evidence of daily mistake correction.
- Fraud prevention procedures and frequency of review.
- ISAE 3402 report, if appropriate.
- A detailed description of operations.
- A comprehensive description of both qualitative and quantitative risk procedures.
- Specifics of the relevant disclosures.
- Specifics on using the Three Lines of Defence or explaining the separation of duties/roles and responsibilities related to business, risk, and audit.
- Specifics on the continuous risk training programs in place.
- A list of all third-party services, with a focus on contractual obligations.
Compliance Function
The following documents must be provided:
- Compliance policy for the ODP.
- Compliance monitoring procedure.
- Compliance function reporting lines.
Business Continuity
- A business continuity strategy that covers catastrophe recovery or operational resilience
- An internal audit plan has been authorized.
Recordkeeping, as well as data retention
- Recordkeeping and data retention policies.
Additional Information
The following details must be provided:
- The valuation policy, including the valuation methodology and approval procedure.
- The procedures for addressing price discrepancies.
- Specifics on the qualifications of employees who do valuations.
- Specifics on the services that will be provided.
- Information on the licensed independent clearing house or, if relevant, the affiliated clearing house the supplier has selected.
- Specifics on the settlement, custody, and administration procedures that the provider must put in place.
- Information on any other or unregulated businesses will be given.
- Specifics on whether the service provider will provide any services for OTC derivatives in a foreign district.
- Information on the trading mechanism or facility via which the issuer will trade its securities.
- The variety of counterparties and customers, both domestic and international, who are anticipated to do business with the supplier.
- The extent and nature of the structures that, if relevant, must be in place to facilitate portfolio compression.
Reporting Obligations
The following must be supported by evidence or data:
- A list of asset types on which the ODP will report.
- The demonstration of capability to compile the report in Annexure A of “FMA Conduct Standard 3 of 2018 – Conduct Standard for reporting requirements concerning transactions in OTC derivatives.”
- The reasons why the ODP could not create the report.
- Confirmation of daily reporting that the ODP must perform.
- Specifics of the licensed Trade Repository will be used for reporting transactions, if relevant.
The FSCA and How it Handles Brokers
The FSCA has complete responsibility over the South African currency market. Even though this is a bold assertion, all legal brokers in South Africa are regulated by the FSCA.
Traders are recommended to employ FSCA-licensed brokers if they have any reason to wind up with a broker that is not regulated by the FSCA, even if the broker is well regarded and traders have earned considerable gains.
The FSCA gives warnings addressing matters such as the noncompliance of brokers who lack FSCA rules with local requirements. Therefore, while examining brokers that claim FSCA regulation, it is essential to authenticate such claims by reviewing the FSCA website’s list of licensed businesses.
Even if the broker gives a license number, traders are recommended to validate the claim of licensure. Brokers belonging to a parent or umbrella firm will likely get a license number and expect traders to trust it.
On the FSCA’s website, traders who need further information about brokers or to verify allegations can find various information.
Traders who meet a broker that falsely purports to be FSCA-regulated must immediately report the broker to the FSCA to take appropriate action.
The FSCA provides traders and brokers with peace of mind. Brokers that desire FSCA regulation will follow the right license application processes. This will give them a huge degree of credibility in the South African business world.
FICA
In South Africa, the following are used to fight money laundering and terrorism financing:
- The Prevention of Organised Crime Act of 1998 (POCA)
- The Prevention and Combating of Corrupt Activities Act of 2004 (PRECCA)
- The Financial Intelligence Centre Act of 2001 (FICA)
FICA has implemented a regulatory framework consisting of numerous measures requiring certain categories of businesses or accountable institutions, including:
- An authorized user of an exchange
- Manager of a collective investment scheme
- Financial service providers (FSP)
These institutions must take the necessary steps regarding customer due diligence, recordkeeping, and information reporting to the Financial Intelligence Centre.
The Financial Intelligence Centre uses this data to generate financial intelligence, which is then shared with the appropriate authorities, including the police, the tax collectors at SARS, and other regulatory organizations.
This information is shared with these entities so that they can continue investigating or take appropriate administrative action.
In addition, FSCA is responsible for ensuring and enforcing compliance with FICA by all authorized users of an exchange, as well as managers of collective investment schemes and FSPs.
Financial Action Working Group (FATF)
The FATF is an intergovernmental organization dedicated to combating money laundering and financing terrorism. It is a policymaking and standard-setting organization that supports anti-money laundering and terrorist funding measures.
Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) is a regional organization of the Financial Action Task Force (FATF) to help nations in the area. South Africa is also a member of this group, and it intends to apply international AML/CFT standards.
Thus, FSCA is a member of South Africa’s delegation, which attends FATF and ESAAMLG plenaries and aims to align policies and procedures with FATF-established standards.
Proposal of the Financial Intelligence Centre (FIC)
The FIC has proposed that certain businesses or institutions that engage in categories of activities be brought within FICA’s ambit.
This is regardless of whether they are currently outside its ambit, intending to include them in Schedule 1 of FICA, including non-life insurers and financial intermediaries.
The following institutions are part of a joint Working Group to assess the money laundering/terrorism financing risk:
- Group of non-life insurers collaborating with the FIC
- The South African Insurance Association (SAIA)
- The Financial Intermediaries Association (FIA)
- The South African Underwriting Managers Association (SAUMA)
- The Prudential Authority (PA)
- The Financial Sector Conduct Authority (FSCA)
- FICA
The risk assessment will include the non-life insurance business, with Insurance Crime Bureau (ICB) Representatives participating in the process.
Non-life insurance companies have joined a voluntary sharing of information. After the risk assessment is complete, among other things, a decision will be made on the continuation of such sharing.
Conclusion
The FSCA in South Africa is a Tier-2 market regulator that oversees the financial markets in the country. There are several strict requirements for forex and CFD brokers to receive licensing with the FSCA, ensuring that only legitimate trading providers can serve traders.
While hundreds of brokers worldwide, only a few have obtained regulations through the FSCA, and few are often added to the list of financial service providers. However, some international brokers apply for FSCA regulation to serve South African traders.
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Frequently asked questions
Is Forex regulated in South Africa?
While the forex market cannot be regulated, there are regulated forex brokers in South Africa with licensing and authorization from the FSCA to operate locally and provide trading services.
What is the FSCA in Forex?
The FSCA is a Tier-2 regulator in South Africa that oversees the financial markets, such as Forex. In addition, the FSCA protects retail clients against fraudulent and scam brokers and manages financial service providers to ensure that traders receive a fair, safe, and transparent trading environment.
How can you check if a broker is regulated in South Africa?
You can check whether a broker is regulated by visiting the official website of the FSCA and using the search tool provided to search for the broker’s FSP number or name on the FSCA register.
How can I find a regulated broker in South Africa?
You can use search engines to find brokers regulated in South Africa, or you can consult the FSCA’s register of regulated banking and non-banking entities.
How many forex brokers currently hold FSCA regulations in South Africa?
Over 30 forex and CFD brokers have active FSCA regulations in South Africa, including Exness, HFM, Tickmill, Scope Markets, Khwezi Trade, IFX Brokers, and more.
Addendum/Disclosure
No matter how diligently we strive to maintain accuracy, the financial markets are volatile that could shift and change at any given time, even if the information supplied is correct at the time of going live.
Top 4 Brokers
