TheFinancial Sector Conduct Authority (FSCA)is the local regulator of all non-banking related activities which includes the regulation of Forex brokers registered in South Africa.

While South Africans are not limited to FSCA regulated brokers, local regulation is an extra level of comfort for any trader. FSCA regulated Forex brokers need to comply with guidelines that ensure brokers treat clients fairly and present written material in a way that does not confuse or mislead the reader thus ensuring the accuracy of the information and increased transparency.

These are the best FCSA regulated brokers, comparing them by trading conditions, educational material offered and platform support.

TheFinancial Sector Conduct Authority (FSCA)is the local regulator of all non-banking related activities which includes the regulation of Forex brokers registered in South Africa.

While South Africans are not limited to FSCA regulated brokers, local regulation is an extra level of comfort for any trader. FSCA regulated Forex brokers need to comply with guidelines that ensure brokers treat clients fairly and present written material in a way that does not confuse or mislead the reader thus ensuring the accuracy of the information and increased transparency.

These are the best FCSA regulated brokers, comparing them by trading conditions, educational material offered and platform support.

83% of retail investor accounts lose money when trading CFDs with this provider

83% of retail investor accounts lose money when trading CFDs with this provider

71% of retail investor accounts lose money when trading CFDs with this provider

71% of retail investor accounts lose money when trading CFDs with this provider

72.83% of retail investor accounts lose money when trading CFDs with this provider

72.83% of retail investor accounts lose money when trading CFDs with this provider

75% of retail investor accounts lose money when trading CFDs with this provider

75% of retail investor accounts lose money when trading CFDs with this provider

77% of retail investor accounts lose money when trading CFDs with this provider

77% of retail investor accounts lose money when trading CFDs with this provider

73% of retail investor accounts lose money when trading CFDs with this provider

73% of retail investor accounts lose money when trading CFDs with this provider

75.35% of retail investor accounts lose money when trading CFDs with this provider

75.35% of retail investor accounts lose money when trading CFDs with this provider

We pride ourselves on giving good advice, and we always put our readers first. When choosing partners, we do our research according to our review process which covers areas such as regulation, trading conditions, and the product offering.

We dont put just anyone up here. We put you first.

To pay the bills, and keep the lights on, we need a business model. That business model makes use of affiliate programs whereby we get a commission from partners featured on our website.

Our business model never influences our opinion of any partner, and the partner selection and review processes are separate. The compensation we receive from partners may affect how our lists are arranged, but the reviews are genuine, and the data is accurate. Our opinion can not be bought, and we always put our readers and their financial livelihoods first.

The Financial Sector Conduct Authority or FSCA is the local regulator of all non-banking related activities and has oversight over all regulated brokers in South Africa.

Its primary purpose is to guard South African citizens and the local economy against financial crime and misconduct. Since changing its name from the FSB to the FSCA it hasupdated its strategy guidelines (pdf), which are worth reading before you sign up with an FSCA regulated Forex broker.

South Africans can trade with brokers which are not regulated by the FSCA, but these organisations are not governed by South African institutions, and funds are not handled by local banks. If you know the legal company name of your broker, you cancheck their status with the FCSA.

The FSCAs supervises activity in the Forex currency market to protect Forex traders from irregularities and rogue brokers. If you want local protection when trading Forex, you want your broker to be regulated locally.

Once a Forex broker registers a membership application with the FSCA, they are entered into adatabasewhere information about their application status, representatives, and approved products are listed.  Anyone can use this database to find more information on the entities listed on this website.

The FSCA issues public warnings about fraudulent brokers in the regularly-updatedMedia Releasessection of their website.  These warnings include guidance on individuals or companies misrepresenting themselves, or organisations falsely representing their services.

This database will also show if an entity has submitted an application to the FSCA, or if it has been stripped of regulation in the past.

Financial regulation is a crucial metric inour review process, as regulation is the primary way we establish the trust of the brokerage. We believe that there is value in being locally regulated as it gives clients more straightforward access to solve any disputes that could arise.

Besides the security that regulation gives, there are additional reasons for choosing a locally regulated brokerage.

FSCA regulated brokers have the right to open a local company with a physical office in South Africa. This local office enables them to create a relationship with local banks that can offer segregated client bank accounts, which are governed by South African laws.  Many brokers offer in-person meetings with clients at their physical offices.

Local bank accounts also mean that bank transfers between South African clients and brokers are faster and cheaper. This also means that if your broker does go bankrupt, you will be able to walk into any branch of your brokers local bank and remove all your funds from your segregated account. Gaining access to your funds will not be so easy in the event of a foreign brokers bankruptcy.

Central to the mission of the FSCA arefour core statements, which together, form the reason why local residents could choose to trade with a regulated Forex broker.

The organisation improves theefficiency and integrity of the South African financial markets. By monitoring the whole financial market and not just any particular entity, it ensures the safety of the entire market, and in doing so, can protect all market participants including retail Forex traders.

In addition, they assure that regulated brokers treat all clients fairly. A client of a regulated brokerage who feels they have been cheated has a legally defined process to resolve their issue.  All regulated brokers must have this process available to potential clients.

FSCA-regulated brokers mustpresent written material in a way that does not confuse or mislead the reader. They are required to provide financial education and promote the financial literacy of potential clients. As financial products can be complicated, it is the obligation of all regulated members to explain all products and their associated risks.

Finally, they assist inmaintaining financial stability in South Africaby supervising the registered entities.

A client trading with a regulated broker should expect to be treated fairly, expect to be educated on financial products whenever needed, and rest assured that the government is monitoring their activities to ensure they are safe and secure.

Previously known as the Financial Services Board (FSB), the FSCA opened in 1991 following therecommendationsof Van der Horst led committee. The committee had recommended the creation of an independent body to oversee or supervise and regulate the non-banking financial services sector in South Africa.

After the Van der Horst committee, various acts have increased and expanded the mandate of the Financial Services Board. In 2001, the Financial Intelligence Centre Act and the subsequent amendments that followed laterincreased the FSB mandateto include issues of combating money laundering.

Later in 2004, the Financial Advisory and Intermediary Services, also known asFAIS, expanded the role of FSB to include, among other things, the conduct of market in the banking sector.

Being an independent body, the Financial Sector Conduct Authority creates regulations in the interest of the public; to caution them publicly against any illegal scheme and in line with its mission of providing and maintaining a sound and conducive environment for investment.

Internationally, the Financial Sector Conduct Authority is a recognised member of theInternational Organization of Securities Commissions (IOSCO)and is active in all activities of Africas regulatory bodies, and takes a leading role in regulation in the SADC block.

As of April 1st, 2018, theFSB changed their name to the FSCAor the Financial Sector Conduct Authority which is responsible for market conduct regulation and supervision, including financial service providers like Forex brokers, investment funds, and investment managers.

A board oversees the Financial Sector Conduct Authority which executes its mandate through divisions. The FSCA has the sole mandate to select its own Commissioner, making the organisation less of a target of the financial politics and pressures. Apart from overseeing the day-to-day running of the institution, the Commissioner acts as the Registrar of the Non-banking Financial Institutions in South Africa.

The authority of the Commission is distributed to Deputy Commissioners appointed by the Minister of Finance, and are supported by the Chief Risk Officer, General Counsel, Media Liaison Officer.

As part of its mission of ensuring that the investment environment in South Africa is sound and conducive, the Financial Sector Conduct Authority has built a strong reputation for its regulatory framework in the following sectors:

The FSCA ensures the cooperation of regulated entities and has the power to impose compensation orders, unlimited penalties and cost orders for those who do not comply.  These orders are adhered to as though they are a judgment from South Africas Supreme Court, and are amatter of public record.

A customer complaints service is effective in fielding complaints, plus a separate self-policing appeals board which any aggrieved entity can approach should they feel like they might have been aggrieved by either the regulator or any of its executive officers.

The FSCA is credited for bringing stability and transparency to South Africas investment industries.  Forex traders who want to have protection can find brokers that are locally-regulated, and who comply with South African law.  In some cases, South African clients can keep their funds locally, further increasing trust with the brokerages.

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TradeForexSA, as part of our parent company Schlossbrink AB, is a full member of :

Global Legal Entity Identifier Foundation (GLEIF)

Membership : 254900LUG07G07A31U72 – as we have shared values of efficiency, transparency, and trust associated with legal entity identification (LEI) in the handling of investments. As Finance Professionals, the LEI is the highest standard

Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital.

It is really important that you do not trade any money that you cant afford to lose because regardless of how much research you have done, or how confident you are in your trade, there will always be a time that you lose.

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.