FSCA regulated forex brokers
Financial Sector Conduct Authority · 🇿🇦 South Africa
The Financial Sector Conduct Authority (FSCA) is the financial regulator for South Africa, established in 2018. ForexLicenses.com classifies it as tier 2 (strong regulation). We currently match 54 brokers in our database to an FSCA licence.
The FSCA replaced the Financial Services Board in 2018 as South Africa's market conduct regulator. Forex and CFD brokers must hold a Financial Services Provider (FSP) licence and, since the 2022 declaration of OTC derivatives as financial products, an ODP (Over-the-Counter Derivative Provider) licence to act as principal. Because South Africa does not impose ESMA-style leverage caps and allows cross-border licensing of foreign groups, a very large number of international brokers now hold FSCA licences. Always check whether the licence is a Category I intermediary licence or a full ODP authorisation, and confirm the FSP number on the FSCA's FAIS search.
Key rules for retail clients
- Tier
- Tier 2 — Strong regulation
- Compensation
- No compensation scheme; FAIS Ombud handles complaints
- Leverage
- No statutory retail leverage cap
- Negative balance protection
- Not a regulatory requirement
- Client money
- Client funds must be kept in separate trust/client accounts
- Complaints
- FAIS Ombud
Brokers licensed by the FSCA 54
Frequently asked questions
How do I check if a broker is FSCA regulated?
Search the firm's name or licence number on the FSCA official register (https://www.fsca.co.za/Fais/Search_FSP.htm), confirm the status is current and that the website domain you're using is listed, then check the FSCA warning list for clones.
Does the FSCA offer investor compensation?
No compensation scheme; FAIS Ombud handles complaints
What leverage do FSCA-regulated brokers offer?
No statutory retail leverage cap
Is negative balance protection required by the FSCA?
It is not a regulatory requirement under the FSCA, though some brokers offer it contractually.