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10 Best FSCA Regulated Forex Brokers

Best FSCA Regulated Forex Brokers

 

 

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.

 

10 Best FSCA Regulated Forex Brokers Revealed (2022):

  1. ✔️ AvaTrade

 

 

Let’s get started with the full breakdown of the 24 Best FSCA Regulated Forex Brokers.

 

AvaTrade

 

Overall Rating

4.8/5

Rated #1 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

ASIC, FSA, CBI, BVI,FSCA,FRSA,CYCES, ISA, JFSA

📱 Trading Desk

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

📈 Total Pairs

55+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

 

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 and Cons

✔️ Pros❌ Cons
A broad range of tradable instrumentsHigh EURUSD and inactivity fees
MT4 and MT5 are available
Excellent educational resources

 

Features

🔍 Featuresℹ️ Information
🏛️ RegulationCentral Bank of Ireland, MiFID, ASIC, BVI, CONSOB, OCC
💰 Minimum deposit from$100
📊 Average spread0.9 pips
💰 Commissions fromNo commission on Forex
➕ Deposit/Withdrawal FeesNone
⚖️ Maximum leverage1:400
⭐ BonusesFirst Deposit Bonus
☎️ Customer Support24/5

 

Khwezi Trade

 

Overall Rating

4.9/5

Rated #195 of
Recommended FX Brokers

💰Minimum Deposit

ZAR 500

🌐 Regulators

FSCA

📱 Trading Desk

MetaTrader 5 (MT5)

Crypto

No

📈 Total Pairs

40

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

 

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 and Cons

✔️ Pros❌ Cons
Well-regulatedUS Clients not allowed
MetaTrader 4 offeredLimited funding/withdrawal options
Trading tutorials providedLimited Forex pairs
Market analysis offeredIndividual stock trading is not offered
Dedicated account managerBest trading conditions linked to more premium accounts

 

Features

🔍 Featuresℹ️ Information
🏛️ RegulationFSCA
💰 Minimum deposit from$150
📊 Average spreadNot indicated
💰 Commissions from$0
➕ Deposit/Withdrawal FeesSome fees may apply
⚖️ Maximum leverage1:200
⭐ BonusesNone
☎️ Customer Support24/5

 

FXCM

 

Overall Rating

4.6/5

Rated #26 of
Recommended FX Brokers

💰Minimum Deposit

USD 300

🌐 Regulators

FCA, FSCA

📱 Trading Desk

MetaTrader 4, Trading Station

Crypto

Yes

📈 Total Pairs

7

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

 

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 and Cons

✔️ Pros❌ Cons
A wide selection of advanced trading platformsLimited range of asset classes
Low minimum deposit
High leverage

 

Features

🔍 Featuresℹ️ Information
🏛️ RegulationFCA, ASIC, ACPR, FSP, OCC
💰 Minimum deposit from$50
📊 Average spread0.2 pips
💰 Commissions from£4 per standard round-turn lot (£2 per side)
➕ Deposit/Withdrawal FeesNone
⚖️ Maximum leverage1:400
⭐ Bonuses$20 Welcome Bonus
☎️ Customer Support24/5

 

FXPRIMUS

 

Overall Rating

4.9/5

Rated #31 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

CySEC, FSCA, VFSC

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

 

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 and Cons

✔️ Pros❌ Cons
Well-regulatedNo US Clients
Negative balance protection offeredNo FCA Regulation or authorization
Commission-free trading on some accountsRestricted leverage of 1:30 for EU-clients
ECN Accounts offeredVIP Account is necessary to gain access to the best trading conditions
VPS Service offeredFixed spread accounts not offered

 

Features

🔍 Featuresℹ️ Information
🏛️ RegulationCySEC, FSCA, VFSC
💰 Minimum deposit from$100
📊 Average spread0.0 pips
💰 Commissions from£10 per lot
➕ Deposit/Withdrawal FeesNone
⚖️ Maximum leverage1:1000
⭐ BonusesYes
☎️ Customer Support24/5

 

FXTM

 

Overall Rating

4.6/5

Rated #32 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

CySec, FSCA 

📱 Trading Desk

MetaTrader4, Metatrader 5

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

 

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 and Cons

✔️ Pros❌ Cons
Superb customer serviceInactivity and withdrawal fees
High maximum leverageLimited product portfolio
Great educational tools

 

Features

🔍 Featuresℹ️ Information
🏛️ RegulationCySEC, FCA, FSCA, OCC
💰 Minimum deposit from$100
📊 Average spread0.9 pips
💰 Commissions fromNo commission
➕ Deposit/Withdrawal Fees$3
⚖️ Maximum leverage1:500 on average
⭐ Bonuses$300 Trading Bonus
☎️ Customer Support24/5

 

HFM

 

Overall Rating

4.8/5

Rated #6 out of 66
Recommended FX Brokers

💰Minimum Deposit

USD 5

🌐 Regulators

CySEC, FCA, FSA, DFSA, FSCA, CMA

📱 Trading Desk

MT4, MT5

Crypto

No

📈 Total Pairs

50+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

 

HotForex 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 HotForex, traders have access to numerous financial instruments which can be traded through powerful trading platforms. HotForex provides traders with low trading and non-trading fees, and an array of account options to choose from.

 

Pros and Cons

✔️ Pros❌ Cons
No deposit or withdrawal feesHigh commission charges on the Zero account
Competitive spreads

 

Features

🔍 Featuresℹ️ Information
🏛️ RegulationCySEC, DFSA, FCA, FSA, FSCA, OCC
💰 Minimum deposit from$5
📊 Average spread0.0 pips
💰 Commissions fromUSD 0.03 per 1K lot.
➕ Deposit/Withdrawal FeesNone
⚖️ Maximum leverage1:1000
⭐ Bonuses100% Supercharged Bonus
☎️ Customer Support24/5

 

IG

 

Overall Rating

4.8/5

Rated #38 of 
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF.

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

 

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 and Cons

✔️ Pros❌ Cons
Regulated by multiple reputable entitiesHigh minimum deposit requirement
Over 16,000 financial instruments
A variety of account options offered
Competitive trading conditions
Longstanding history and good reputation

 

Features

🔍 Featuresℹ️ Information
🏛️ RegulationFCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF.
💰 Minimum deposit from$250
📊 Average spread0.1 pips on Indices
💰 Commissions from0.10% CFD EU
➕ Deposit/Withdrawal FeesNone
⚖️ Maximum leverage1:200
⭐ BonusesNone
☎️ Customer Support24/5

 

FBS

 

Over 16 000 000+ Traders

Overall Rating

4.7/5

Rated #71 of
Recommended FX Brokers

💰Minimum Deposit

USD 1

🌐 Regulators

IFSC, FSCA (south africa), ASIC, CySEC

📱 Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform

Crypto

Yes

📈 Total Pairs

250

☪️ Islamic Account

No

📊 Trading Fees

Low

Welcome bonus

$140 (Find out More)

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

FBS

 

Overview

 

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 and Cons

✔️ Pros❌ Cons
Low minimum depositWider than average spreads
Comprehensive educational and research tools
Well regulated, with investor compensation

 

Features

🔍 Featuresℹ️ Information
🏛️ RegulationASIC, FCA, DFSA, OCC
💰 Minimum deposit from$1
📊 Average spread0.0 pips
💰 Commissions fromNone
➕ Deposit/Withdrawal Fees$1
⚖️ Maximum leverage1:3000
⭐ Bonuses$100 Deposit Bonus
☎️ Customer Support24/5

 

JP Markets

 

Overall Rating

4.6/5

Rated #43 of
Recommended FX Brokers

💰Minimum Deposit

R3000

🌐 Regulators

FSCA

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

5

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

 

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 and Cons

✔️ Pros❌ Cons
Strictly regulatedLack of additional trading tools
Zero deposit or withdrawal feesSpreads and commission charges are high
Negative balance protection offeredMetaTrader 5 not supported
MetaTrader 4 supportedLimited trading instruments
No US Clients

 

Features

🔍 Featuresℹ️ Information
🏛️ RegulationFSCA
💰 Minimum deposit from$180
📊 Average spread2 pips EUR/USD
💰 Commissions from$0.02 per 0.01 lot traded
➕ Deposit/Withdrawal FeesNone
⚖️ Maximum leverage1:500
⭐ BonusesYes
☎️ Customer Support24/5

 

CM Trading

 

Overall Rating

4.8/5

Rated #7 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FSA

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

154

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

 

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 and Cons

✔️ Pros❌ Cons
Well-regulatedUS Clients not allowed
Commission-free trading offeredHigher than the average minimum deposit
Daily Market analysis providedFixed spread accounts not offered
Variety of educational sources
Hedging and scalping allowed

 

Features

🔍 Featuresℹ️ Information
🏛️ RegulationFSCA
💰 Minimum deposit from$100
📊 Average spread0.9 pips
💰 Commissions from$0
➕ Deposit/Withdrawal FeesSome fees may apply
⚖️ Maximum leverage1:200
⭐ BonusesYes
☎️ Customer Support24/5

 

Frequently asked questions

 

What is the FSCA?

The Financial Sector Conduct Authority, more commonly known as FSCA, is the market conduct regulator for financial institutions in South Africa.

 

Is the FSCA reputable?

Yes. It is one of the strictest regulatory entities in the world next to FCA, CySEC, and ASIC, among numerous others.

 

What are the best FSCA-regulated brokers?

The brokers on this list are the best FSCA-regulated brokers in the industry.

 

Do these Forex brokers offer demo accounts?

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.

 

Why is it important that a broker has adequate regulation?

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.

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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