Best Financial Sector Conduct Authority (FSCA) Regulated Brokers
We’ve personally tested and ranked the top brokers regulated by the South African Financial Sector Conduct Authority (FSCA), ensuring high standards of trust and reliability.
Showing top 5 of 12 matching brokers.
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1Founded in 2006, AvaTrade is a top forex and CFD broker trusted by over 400,000 traders. Regulated in 9 regions, it handles more than 2 million trades monthly. AvaTrade offers platforms like MT4, MT5, and WebTrader, with over 1,250 instruments. Traders of all levels can explore CFDs, AvaOptions, and AvaFutures for short-term trading. AvaTrade provides excellent education and 24/5 multilingual customer support for a complete trading experience.
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2Established in 2008, Exness is a respected broker known for offering over 40 account currencies, a wide choice of CFD instruments, and an intuitive web platform with features like currency converters and trading calculators.
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3Trade Nation is a leading foreign exchange and contract for difference broker regulated in various areas including the UK and Australia. This company provides affordable fixed and variable spreads on over 1000 assets and strong trading platforms and educational resources. Traders could use the Signal Centre for trading ideas.
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4Founded in 2009, Vantage provides trading on over 1000 CFD products to more than 900,000 customers. Forex CFDs can be traded from 0.0 pips on the RAW account using TradingView, MT4 or MT5. Vantage is regulated by ASIC and keeps client funds separate. The company also offers a variety of social trading tools for those interested in copy trading.
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5Plus500, founded in 2008 and based in Israel, is a leading brokerage with more than 25 million registered traders across 50+ countries. The company specializes in CFD trading, provides a user-friendly platform and mobile app, and offers competitive spreads. It does not impose commission, deposit, or withdrawal fees. Plus500 holds the trust of its traders by being licensed by well-known regulators such as FCA, ASIC, and CySEC.
Compare Brokers
| Broker |  |
USD Account |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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✓ | ✓ | $300$100 | 0.01 Lots | 1:30 (Retail) 1:400 (Pro) | ✓ | ASIC, CySEC, FSCA, ISA, CBI, JFSA, FSRA, BVI, ADGM, CIRO, AFM | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingView, TradingCentral, DupliTrade | USD, EUR, GBP, CAD, AUD | Expert Advisors (EAs) on MetaTrader | ✓ | ✗ | |
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✓ | ✓ | Varies based on the payment system | 0.01 Lots | 1:Unlimited | ✓ | FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC, JSC | CFDs on Forex, Stocks, Indices, Commodities, Crypto | Exness Trade App, Exness Terminal, MT4, MT5, TradingCentral | USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR, KRW, MXN, KES, CNY | Expert Advisors (EAs) on MetaTrader | ✗ | ✗ | |
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✓ | ✓ | $0 | 0.1 Lots | 1:500 (entity dependent) | ✓ | FCA, ASIC, FSCA, SCB, FSA | Forex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Spread Betting, Cryptos (Bahamas Entity Only) | MT4 | USD, EUR, GBP, AUD, ZAR, SEK, NOK, DKK | Expert Advisors (EAs) on MetaTrader | ✗ | ✗ | |
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✓ | ✓ | $50 | 0.01 Lots | 1:20001:500 | ✓ | FCA, ASIC, FSCA, VFSC | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Spread betting | ProTrader, MT4, MT5, TradingView, DupliTrade | USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN | Myfxbook AutoTrade, Expert Advisors (EAs) on MetaTrader | ✗ | ✗ | |
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✓ | ✓ | $100 | Variable | ✓ | ✗ | FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA | CFDs on Forex, Stocks, Indices, Commodities, ETFs, Options, Crypto | WebTrader, App | USD, EUR, GBP, AUD, ZAR, CZK | ✗ | ✓ | ✓ | |
| Broker | |
USD Account |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
Safety Comparison
Compare how safe the Best Financial Sector Conduct Authority (FSCA) Regulated Brokers are.
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
|---|---|---|---|---|
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✗ | ✓ | ✓ | |
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✗ | ✓ | ✓ | |
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✗ | ✓ | ✓ | |
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✗ | ✓ | ✓ | |
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✓ | ✓ | ✓ | |
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
Mobile Trading Comparison
Compare the mobile trading features of the Best Financial Sector Conduct Authority (FSCA) Regulated Brokers.
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
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iOS, Android & Windows | ✗ | ||
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
Comparison for Beginners
Compare how suitable the Best Financial Sector Conduct Authority (FSCA) Regulated Brokers are for beginners.
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
|---|---|---|---|---|---|---|---|
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✓ | $300$100 | 0.01 Lots | ✗ | ✗ | ||
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✓ | Varies based on the payment system | 0.01 Lots | ✗ | ✗ | ||
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✓ | $0 | 0.1 Lots | ✗ | ✗ | ||
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✓ | $50 | 0.01 Lots | ✗ | ✓ | ||
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✓ | $100 | Variable | ✗ | ✗ | ||
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
Comparison for Advanced Traders
Compare how suitable the Best Financial Sector Conduct Authority (FSCA) Regulated Brokers are for advanced or professional traders.
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
|---|---|---|---|---|---|---|---|---|
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Expert Advisors (EAs) on MetaTrader | ✗ | ✓ | ✓ | ✓ | 1:30 (Retail) 1:400 (Pro) | ✓ | ✗ |
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Expert Advisors (EAs) on MetaTrader | ✓ | ✗ | ✗ | ✓ | 1:Unlimited | ✓ | ✗ |
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Expert Advisors (EAs) on MetaTrader | ✗ | ✗ | ✗ | ✗ | 1:500 (entity dependent) | ✗ | ✗ |
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Myfxbook AutoTrade, Expert Advisors (EAs) on MetaTrader | ✓ | ✗ | ✗ | ✗ | 1:20001:500 | ✗ | ✗ |
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✗ | ✗ | ✗ | ✓ | ✗ | ✓ | ✗ | ✗ |
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
Accounts Comparison
Compare the trading accounts offered by Best Financial Sector Conduct Authority (FSCA) Regulated Brokers.
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
|---|---|---|---|---|---|---|---|---|---|
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✓ | USD: 2.7% | ✓ | ✗ | ✓ | ✓ | ✓ | ✗ | ✓ |
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✓ | ✗ | ✓ | ✗ | ✓ | ✗ | ✗ | ✗ | ✓ |
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✓ | ✗ | ✓ | ✗ | ✓ | ✗ | ✗ | ✗ | ✗ |
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✓ | ✗ | ✓ | ✓ | ✗ | ✓ | ✓ | ✗ | ✗ |
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✓ | ✗ | ✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
Detailed Rating Comparison
Compare how we rated the Best Financial Sector Conduct Authority (FSCA) Regulated Brokers in key areas.
| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
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| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
Fee and Cost Comparison
Compare the cost of trading with the Best Financial Sector Conduct Authority (FSCA) Regulated Brokers.
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
|---|---|---|---|---|---|---|
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✓ | $50 | 0.13 | 0.9 | BTC <1%, ETH 2% | |
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✗ | $0 | 0.5 (Apple Inc.) | 0.0 | Floating | |
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✓ | $0 | Variable | Variable | Fixed | |
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✗ | $0 | 0.01 | 0.0 | Floating | |
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✗ | $10 | Dynamic | Dynamic | Variable | |
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
Broker Popularity
See how popular the Best Financial Sector Conduct Authority (FSCA) Regulated Brokers are in terms of number of clients.
Why Trade With AvaTrade?
AvaTrade provides traders with essential tools: an intuitive WebTrader, strong AvaProtect risk management, a quick 5-minute sign-up, and reliable support for fast-paced markets.
Pros
- AvaTrade introduced AvaFutures for low-margin global market access and expanded in 2025 by adding CME’s Micro Grain Futures. Later that year, they integrated with TradingView.
- AvaTrade's support team did well in tests, responding within 3 minutes and providing local support in major regions like the UK, Europe, and the Middle East.
- The WebTrader performed well in our tests, featuring an easy-to-use interface for beginners and strong charting tools, including 6 chart layouts and over 60 technical indicators.
Cons
- The AvaSocial app is satisfactory but could be better. Its design, usability, and navigation between strategy providers and account management need improvement to compete with top platforms like eToro.
- Signing up is easy, but AvaTrade doesn't offer an ECN account like Pepperstone or IC Markets, which provides raw spreads and fast execution that many traders want.
- While the deposit process is smooth, AvaTrade doesn't support crypto payments, unlike TopFX, which caters to crypto-focused traders.
Go to AvaTrade
79% of retail accounts lose money with this provider.
Why Trade With Exness?
Exness is an excellent choice for active forex traders aiming to reduce costs after lowering spreads, enhancing execution speeds, and offering trading on over 100 currency pairs with more than 40 account currencies.
Pros
- Competitive spreads for USOIL and BTCUSD in 2024 start from 0 pips, with low commissions from $2 per side.
- Fast and reliable 24/7 multilingual customer support through phone, email, and live chat, validated by practical tests.
- Exness Terminal provides an easy experience for beginners with interactive charts, and creating watchlists is simple.
Cons
- Exness has increased its variety of CFDs and introduced a copy trading feature, but it still lacks real assets like ETFs, cryptocurrencies, or bonds.
- MetaTrader 4 and 5 are supported, but TradingView and cTrader are not available yet, despite increasing demand from traders and their integration with other platforms like Pepperstone.
- Retail trading services are not available in some areas, including the US, UK, and EU, making them less accessible compared to leading brokers like Interactive Brokers.
Why Trade With Trade Nation?
Trade Nation is a suitable platform for new traders, offering diverse financial markets in a user-friendly environment. It has no minimum deposit requirement, provides free funding options, and robust educational resources.
Pros
- The brand offers a variety of trading platforms and apps, like MT4, suitable for skilled traders.
- Beginners can start trading with a small initial deposit.
- Trade a variety of investments using leveraged CFDs for buying and selling opportunities.
Cons
- Lower legal safeguards with overseas businesses.
Go to Trade Nation
67.3% of retail investor accounts lose money when trading CFDs with this provider. 84% of retail investor accounts lose money when trading CFDs with this provider.
Why Trade With Vantage?
Vantage is a solid choice for CFD traders looking for a strictly-controlled broker that offers the dependable MetaTrader platforms. The registration process is swift and there’s a $50 minimum deposit, making it easy for traders to start quickly.
Pros
- This broker is suitable for new traders due to its low minimum deposit of $50 and no funding fees.
- The ECN accounts offer competitive terms, including spreads from 0.0 pips and a commission of $1.50 per side for traders.
- Vantage has enhanced its algorithmic trading tools by introducing AutoFibo EA. This feature allows proficient traders to detect potential reversals in the market.
Cons
- Unfortunately, some customers may have to sign up with an offshore company, providing less regulation protection.
- To enjoy optimal trading conditions, a significant deposit of $10,000 is required. These conditions include a commission fee of $1.50 per side.
- Test results show that average transaction speeds of 100ms-250ms are slower than other trading options.
Why Trade With Plus500?
Plus500 provides a streamlined experience for traders through a modern and dynamic CFD trading platform. However, its research tools are limited, it charges higher fees compared to some brokers, and its educational resources can be improved.
Pros
- The broker provides low-commission trading across various markets, reducing extra fees and attracting experienced traders.
- Plus500 offers a WebTrader platform specifically made for CFD trading. It presents a neat and straightforward interface.
- Plus500 recently expanded its trading products. This includes offering VIX options with increased volatility and extended trading hours for 7 stock CFDs.
Cons
- Without social trading, users cannot mimic the trading actions of experienced traders.
- Compared to competitors like IG, Plus500's research and analysis tools are somewhat limited.
- The absence of MetaTrader or cTrader charting tools in Plus500 might deter experienced traders who value familiarity.
Go to Plus500
CFD Service. Your capital is at risk82% of retail CFD accounts lose money.
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Using a Broker in South Africa? Prioritize FSCA Regulation for Safety
If you’re in South Africa and want to start trading, it’s crucial to choose a broker that’s regulated by the Financial Sector Conduct Authority (FSCA). This ensures added safety, as the FSCA has tightened its oversight of brokers, offering stronger protections for traders.
The FSCA has earned a respected rating for its regulatory measures, offering confidence to traders who choose FSCA-regulated platforms.
How We Choose the Best FSCA-Regulated Brokers
To help you find the best FSCA-regulated brokers, we:
- Reviewed our list of trading platforms, focusing on those claiming FSCA approval.
- Verified these brokers through the FSCA’s official list of regulated entities.
- Combined our testing experiences with over 200 data points to rank the top FSCA-regulated brokers.
How to Verify a Broker’s FSCA Regulation
Ensuring that a broker is regulated by the FSCA involves a few easy steps. Here’s how to check a broker’s FSCA status, using IG as an example:
Step 1. Visit the FSCA’s Website
Start by visiting the FSCA’s official website, which contains a database of licensed Financial Services Providers (FSPs).
Step 2. Search for a Financial Service Provider
Navigate to the “Search For An FSP” section on the site. This tool allows you to find registered brokers using their name or licence number.
Step 3. Enter Broker Details
Type in the broker’s name or their advertised FSP number. For example, you might enter “IG Markets South Africa” or their FSCA licence number.
Step 4. Review the Results
Check to ensure the broker is listed, their licence is active, and see what services they offer, like CFDs and forex trading.
Step 5. Verify Contact Information
For lesser-known brokers, confirm contact details on the FSCA site match those on the broker’s official site to avoid fraudulent practices.
Step 6. Look for Public Warnings
Check the FSCA website for any warnings about unregulated or questionable brokers.
Step 7. Contact the FSCA if Needed
If the information is unclear, you can call (+27 (0)12 428 8000) or email (info@fsca.co.za) for guidance.
Additionally, check brokerlistings.com for a list of top FSCA-regulated brokers.
About the Financial Sector Conduct Authority (FSCA)
The FSCA oversees South Africa’s financial services, ensuring fair operation and consumer protection.
Objectives of the FSCA
- Protect Consumers: Ensure financial services treat customers fairly and provide clear information.
- Promote Market Integrity: Enforce compliance and address misconduct to maintain trust in financial markets.
- Ensure Financial Stability: Regulate institutions to prevent systemic issues.
- Educate Consumers: Support financial literacy, helping traders make informed decisions.
- Monitor Financial Service Providers: Oversee banks, insurance companies, trading firms, etc.
FSCA Governance and Powers
The FSCA answers to the South African government and works under the oversight of the Minister of Finance.
FSCA Structure
- Led by a Commissioner and Deputy Commissioners overseeing operations.
- Works with the Financial Stability Oversight Committee for sector stability.
- Accountable to Parliament and provides annual reports on activities.
FSCA’s Regulating Powers
- Has authority over a wide range of financial entities.
- Issues or revokes licences for financial services providers.
- Investigates misconduct and imposes penalties for rule violations.
- Engages in market surveillance to prevent unfair practices.
- Promotes consumer protection and educates through awareness campaigns.
Rules for FSCA-Regulated Brokers
Like many leading regulated brokers, platforms under FSCA regulation must follow specific rules for transparency and fairness, including:
- Display their FSP licence number clearly.
- Assess if their products suit clients’ needs and risks.
- Inform about all risks associated with trading instruments.
- Keep client funds separate from their own.
- Comply with Anti-Money Laundering (AML) regulations.
- Clearly inform clients of all fees.
- Ensure truthful advertising.
- Submit regular compliance reports to the FSCA.
- Have processes for addressing client complaints.
Does the FSCA Enforce Regulations Effectively?
The FSCA is empowered to maintain order and penalize rule-breakers, enhancing its enforcement over time. Some key actions include:
- Fining and penalizing individuals offering unauthorized financial services.
- Imposing fines on brokers contravening derivatives regulations.
Bottom Line
For South African traders, confirming FSCA regulation of a broker is crucial. This ensures you’re dealing with a legitimate provider and safeguarding your investments. For top FSCA-regulated brokers, check listings on brokerlistings.com.