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Brokerlist2026

Regulator profile · ZA

FSCA — Financial Sector Conduct Authority

Tracked byUpdated

The Financial Sector Conduct Authority (FSCA) is South Africa's market-conduct regulator for non-banking financial services, including retail forex and CFD providers operating from or into the country.

Brokers in South Africa accepting residents under FSCA
Jurisdiction
Republic of South Africa.
Founded
2018
Mandate
Replaced the Financial Services Board (FSB) on 1 April 2018 under the Financial Sector Regulation Act 2017. FSCA enforces the Financial Advisory and Intermediary Services Act (FAIS) and issues OTC Derivative Provider (ODP) licences for forex and CFD activities.
Consumer protection
No statutory compensation scheme; FAIS conduct rules and Treating Customers Fairly principles apply. Client funds segregation is mandatory under the ODP regime introduced in 2018.
Retail leverage caps
No statutory cap; ODP licensees set their own retail leverage subject to suitability and risk-disclosure obligations. Retail leverage of 1:500 on major pairs is common with FSCA-regulated providers.
Public register
Search the FSP (Financial Service Provider) register by FSP number or entity name to verify the licence category, including ODP authorisation for OTC derivatives. Open register ↗
Dispute resolution
Unresolved complaints go to the FAIS Ombud, which can issue binding determinations up to ZAR 800,000 against the FSP.
Editor notes
FSCA-regulated brokers serve a large retail audience across English-speaking Africa. Exchange controls administered by the SARB (South African Reserve Bank) — not the FSCA — limit retail outbound investment to R1 million per year under the Single Discretionary Allowance.

Brokers we track with a FSCA licence

3 brokers

  1. Editorial top pick

    01FxPro

    FCACySECSCBFSCA
    Open account at FxPro →
    Avg spread
    0.30pip
    midpoint of broker range
    Cost / lot
    $10.00
    incl. $7 commission
    Min deposit
    $100
    Max leverage
    1:500
    EU/UK retail: 1:30 · SCB (Bahamas) entity: 1:500

    Four diversified regulators (FCA, CySEC, FSCA, SCB) with 18+ years operating history · MT4/MT5 Standard accounts are spread-only at ~1.2 typical pips — only use cTrader or Raw if you want commission-based pricing

    Fits ifYou are EU or UK retail and want double tier-1 cover (FCA + CySEC) at one broker
    PlatformsMetaTrader 4, MetaTrader 5, cTrader, FxPro Edge

    Founded in 2006 · Verified Jun 1, 2026

    Full FxPro details →

  2. 02Tickmill

    FCACySECFSAFSCA
    Open account at Tickmill →
    Avg spread
    0.20pip
    editorial estimate
    Cost / lot
    $8.00
    incl. $6 commission
    Min deposit
    $100
    Max leverage
    1:1000
    EU/UK retail: 1:30 · Seychelles entity: 1:1000

    Raw account: 0.0 from-spread + $6 round-turn — ECN-style pricing in a commission-based tier · Broker publishes "from" spreads only — realised typical is not disclosed on the accounts page

    Fits ifYou are EU or UK retail and want FCA + CySEC double cover with ECN-style commission pricing
    PlatformsMetaTrader 4, MetaTrader 5

    Founded in 2014 · Verified Jun 1, 2026

    Full Tickmill details →

  3. 06AvaTrade

    ASICFSCACBIBVI
    Open account at AvaTrade →
    Avg spread
    0.90pip
    broker-published typical
    Cost / lot
    $9.00
    no commission
    Min deposit
    $100
    Max leverage
    1:400
    EU/UK/AU retail: 1:30 · FSCA / BVI entities: up to 1:400

    Regulated in 6 jurisdictions · Spread-only pricing at 0.9 pip = ~$9/lot round-turn — wider than ECN/Raw brokers at similar volume

    Fits ifYou are AU or EU retail and want CBI + ASIC double cover with 20 years of operating history
    PlatformsMetaTrader 4, MetaTrader 5, AvaOptions, DupliTrade

    Founded in 2006 · Verified Jun 1, 2026

    Full AvaTrade details →