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The Financial Sector Conduct Authority, more commonly known as FSCA, is the market conduct regulator for financial institutions in South Africa. The FSCA oversees financial institutions which provide financial products and services.
It enhances and supports both the efficiency and the integrity of financial markets. In addition, it protects financial customers by promoting fair treatment by financial institutions and provides such customers with financial education.
It is the strictest regulatory entity in South Africa, and it oversees the operation of numerous Forex brokers which hold regulation and authorization in offering South African traders with trading solutions and services.
Let’s get started with the full breakdown of the 24 Best FSCA Regulated Forex Brokers.
AvaTrade is an award-winning Market Maker and STP online trading broker which facilitates the trade of more than 250 financial instruments spread across different asset classes.
AvaTrade is strictly regulated and authorized by numerous regulatory entities namely ASIC, BVI, CBI, FFAJ, FSA, and FSCA in providing traders from around the world with competitive trading conditions.
 Pros |  Cons |
| A broad range of tradable instruments | High EURUSD and inactivity fees |
| MT4 and MT5 are available | |
| Excellent educational resources |
 Features |  Information |
 Regulation | Central Bank of Ireland, MiFID, ASIC, BVI, CONSOB, OCC |
 Minimum deposit from | $100 |
 Average spread | 0.9 pips |
| Commissions from | No commission on Forex |
 Deposit/Withdrawal Fees | None |
 Maximum leverage | 1:400 |
 Bonuses | First Deposit Bonus |
 Customer Support | 24/5 |
Established in 2013, Khwezi Trade is a proudly South African online Forex broker which facilitates the trade in numerous financial instruments. Khwezi Trade offers an STP-pricing model which ensures that traders’ orders are executed at the best possible prices.
Khwezi Trade offers some of the best trading conditions and is strictly regulated and authorized by FSCA in offering numerous traders competitive trading conditions.
| Pros | Cons |
| Well-regulated | US Clients not allowed |
| MetaTrader 4 offered | Limited funding/withdrawal options |
| Trading tutorials provided | Limited Forex pairs |
| Market analysis offered | Individual stock trading is not offered |
| Dedicated account manager | Best trading conditions linked to more premium accounts |
| Features | Information |
| Regulation | FSCA |
| Minimum deposit from | $150 |
| Average spread | Not indicated |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum leverage | 1:200 |
| Bonuses | None |
| Customer Support | 24/5 |
FXCM was established in 1999 and offers traders from around the globe comprehensive trading solutions. FXCM offers powerful and flexible trading platforms through which trades can be executed along with competitive trading conditions.
FXCM is strictly regulated and overseen by strict regulatory entities such as FCA, ASIC, and FSCA in providing its services to numerous clients in these jurisdictions.
| Pros | Cons |
| A wide selection of advanced trading platforms | Limited range of asset classes |
| Low minimum deposit | |
| High leverage |
| Features | Information |
| Regulation | FCA, ASIC, ACPR, FSP, OCC |
| Minimum deposit from | $50 |
| Average spread | 0.2 pips |
| Commissions from | £4 per standard round-turn lot (£2 per side) |
| Deposit/Withdrawal Fees | None |
| Maximum leverage | 1:400 |
| Bonuses | $20 Welcome Bonus |
| Customer Support | 24/5 |
Established in 2009, FXPRIMUS is a reputable ECN and STP broker based in Cyprus, South Africa, and Vanuatu with respective regulation and authorization by CySEC, FSCA, and VFSC.
FXPRIMUS offers traders competitive trading conditions, superb education, more than 120 financial instruments, and the use of MetaTrader 4 and Platinum API through which trades can be executed.
| Pros | Cons |
| Well-regulated | No US Clients |
| Negative balance protection offered | No FCA Regulation or authorization |
| Commission-free trading on some accounts | Restricted leverage of 1:30 for EU-clients |
| ECN Accounts offered | VIP Account is necessary to gain access to the best trading conditions |
| VPS Service offered | Fixed spread accounts not offered |
| Features | Information |
| Regulation | CySEC, FSCA, VFSC |
| Minimum deposit from | $100 |
| Average spread | 0.0 pips |
| Commissions from | £10 per lot |
| Deposit/Withdrawal Fees | None |
| Maximum leverage | 1:1000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
FXTM is a reputable ECN and STP broker based in the UK, South Africa, Cyprus, and Mauritius. FXTM offers its service to numerous traders from around the world in addition to being one of the best and most popular online trading brokers worldwide.
FXTM is strictly regulated by CySEC, FCA, FSC, and FSCA in offering traders with competitive trading conditions consisting of tight spreads, low commissions on trades, and access to an array of financial instruments such as Forex, commodities, indices, crypto, and more.
| Pros | Cons |
| Superb customer service | Inactivity and withdrawal fees |
| High maximum leverage | Limited product portfolio |
| Great educational tools |
| Features | Information |
| Regulation | CySEC, FCA, FSCA, OCC |
| Minimum deposit from | $100 |
| Average spread | 0.9 pips |
| Commissions from | No commission |
| Deposit/Withdrawal Fees | $3 |
| Maximum leverage | 1:500 on average |
| Bonuses | $300 Trading Bonus |
| Customer Support | 24/5 |
HFM is a multi-asset broker based in Cyprus with authorization and regulation through CySEC, FCA, DFSA, and FSCA in providing traders with competitive trading conditions.
When trading through HFM, traders have access to numerous financial instruments which can be traded through powerful trading platforms. HFM provides traders with low trading and non-trading fees, and an array of account options to choose from.
 Pros |  Cons |
| No deposit or withdrawal fees | High commission charges on the Zero account |
| Features | Information |
| Regulation | CySEC, DFSA, FCA, FSA, FSCA, OCC |
| Minimum deposit from | $5 |
| Average spread | 0.0 pips |
| Commissions from | USD 0.03 per 1K lot. |
| Deposit/Withdrawal Fees | None |
| Maximum leverage | 1:1000 |
| Bonuses | 100% Supercharged Bonus |
| Customer Support | 24/5 |
IG has been in operation since 1974 and during its long history, it has earned the trust of numerous traders around the world. IG offers traders access to global markets through its provision of more than 16,000 financial instruments.
IG is a trusted and well-regulated broker which is regulated and authorized through FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, and MAFF.
When trading with IG, traders are offered some of the best and most competitive prices and rates in the industry.
| Pros | Cons |
| Regulated by multiple reputable entities | High minimum deposit requirement |
| Over 16,000 financial instruments | |
| A variety of account options offered | |
| Competitive trading conditions | |
| Longstanding history and good reputation |
| Features | Information |
| Regulation | FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF. |
| Minimum deposit from | $250 |
| Average spread | 0.1 pips on Indices |
| Commissions from | 0.10% CFD EU |
| Deposit/Withdrawal Fees | None |
| Maximum leverage | 1:200 |
| Bonuses | None |
| Customer Support | 24/5 |
In operation since 2009, FBS is a well-regulated and reputable ECN and STP broker which is headquartered in Belize. There are traders from 190 countries who have registered a trading account with FBS, making use of its competitive trading conditions to trade more than 75 financial instruments in global markets. You can read our full FBS review here
| Pros | Cons |
| Low minimum deposit | Wider than average spreads |
| Comprehensive educational and research tools | |
| Well regulated, with investor compensation |
| Features | Information |
| Regulation | ASIC, FCA, DFSA, OCC |
| Minimum deposit from | $1 |
| Average spread | 0.0 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | $1 |
| Maximum leverage | 1:3000 |
| Bonuses | $100 Deposit Bonus |
| Customer Support | 24/5 |
JP Markets is a well-regulated ECN and STP broker which is situated in South Africa. JP Markets is strictly overseen, regulated, and authorized by the FSCA in offering traders comprehensive trading solutions and services.
When trading with JP Markets, traders have access to global markets and a variety of financial instruments which can be traded through advanced, flexible trading platforms, in addition to receiving some of the best trading conditions in the industry.
| Pros | Cons |
| Strictly regulated | Lack of additional trading tools |
| Zero deposit or withdrawal fees | Spreads and commission charges are high |
| Negative balance protection offered | MetaTrader 5 not supported |
| MetaTrader 4 supported | Limited trading instruments |
| No US Clients |
| Features | Information |
| Regulation | FSCA |
| Minimum deposit from | $180 |
| Average spread | 2 pips EUR/USD |
| Commissions from | $0.02 per 0.01 lot traded |
| Deposit/Withdrawal Fees | None |
| Maximum leverage | 1:500 |
| Bonuses | Yes |
| Customer Support | 24/5 |
Established in 2012, CM Trading is an online broker which offers its services to clients from around the world. CM Trading offers the trade-in of numerous instruments such as Forex, commodities, indices, shares, metals, and more.
CM Trading is based in South Africa and has corresponding regulation and authorization through FSCA in offering traders competitive trading conditions. CM Trading has won numerous rewards over the years and is one of the most trusted brokers in the industry.
| Pros | Cons |
| Well-regulated | US Clients not allowed |
| Commission-free trading offered | Higher than the average minimum deposit |
| Daily Market analysis provided | Fixed spread accounts not offered |
| Variety of educational sources | |
| Hedging and scalping allowed |
| Features | Information |
| Regulation | FSCA |
| Minimum deposit from | $100 |
| Average spread | 0.9 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum leverage | 1:200 |
| Bonuses | Yes |
| Customer Support | 24/5 |
The Financial Sector Conduct Authority, more commonly known as FSCA, is the market conduct regulator for financial institutions in South Africa.
Yes. It is one of the strictest regulatory entities in the world next to FCA, CySEC, and ASIC, among numerous others.
The brokers on this list are the best FSCA-regulated brokers in the industry.
Yes, most of these brokers offer demo accounts. Traders are however advised to visit the broker’s website to confirm the availability and duration of demo accounts.
It is imperative for traders to use regulated brokers as the security of their funds can be guaranteed. Regulated brokers are required to keep client funds in segregated accounts. These funds may only be used for trading activities and must be withdrawable.
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