Best FSCA Regulated Forex Brokers in South Africa 2025
Forex trading in South Africa has experienced a surge in popularity in recent years, with the country’s financial sector now well-developed, especially in cities like Johannesburg and Cape Town. For South Africa-based traders, choosing an FSCA Regulated Forex Broker offers increased fund protection and ensures greater compliance with local regulations.
Founded in 2018, the Financial Sector Conduct Authority (FSCA) is South Africa’s main financial regulator, replacing the now defunct Financial Services Board (FSB). It is well respected within the industry for upholding a strict set of regulatory standards, promoting fair trading practices, and protecting traders through stringent enforcement measures.
Through extensive research and evaluation of dozens of brokers, we have identified the top five FSCA Regulated Forex Brokers that consistently excel in all areas. Check out our findings below.
Overview of FSCA Regulated Forex Brokers
Broker Name: Exness
Established: 2008
South Africa Office: Cape Town
Minimum Deposit: $10
Copy Trading: Yes
Negative Balance Protection: Yes
Pros & Cons
✅ Low and stable spreads
✅ Fast order execution
❌ No trading bonuses
Broker Name: IG
Established: 1974
South Africa Office: Johannesburg
Minimum Deposit: $10
Copy Trading: No
Negative Balance Protection: Yes
Pros & Cons
✅ Offers 17,000+ markets
✅ ProRealTime platform
❌ No copy trading options
Broker Name: AvaTrade
Established: 2006
South Africa Office: Johannesburg
Minimum Deposit: $100
Copy Trading: Yes
Negative Balance Protection: Yes
Pros & Cons
✅ Multi-regulated broker
✅ Automated trading platforms
❌ High inactivity fees
Broker Name: XM
Established: 2009
South Africa Office: Cape Town
Minimum Deposit: $5
Copy Trading: Yes
Negative Balance Protection: Yes
Pros & Cons
✅ No requotes or rejections
✅ Monthly trading competitions
❌ No proprietary platform
South Africa Office: Johannesburg
Minimum Deposit: $0
Copy Trading: Yes
Negative Balance Protection: Yes
Pros & Cons
✅ Innovative copy trading tools
✅ Varied account types
❌ Above average trading fees
FX Trust Score Comparison of FSCA Regulated Forex Brokers, South Africa
| Broker | FSCA Regulation | South Africa Office | Trading Platforms | Average EUR/USD Spread | Customer Support | FX Trust Score |
| Exness | Licence number: 51024 | Offices 307 & 308, Third Floor, North Wing, Granger Bay Court, V&A Waterfront, Cape Town, 8001 | MT4, MT5, Exness Terminal | 0.6 pips | 24/7 | |
| Score | 10 | 10 | 7 | 7 | 10 | 9.10/10 |
| IG | Licence number: 41393 | Tower 2, The Marc, 129 Rivonia Rd, Sandown, Sandton, Johannesburg, 2196 | IG Platform, MT4, ProRealTime, TradingView | 1.2 pips | 24/6 | |
| Score | 10 | 10 | 8 | 5 | 9 | 8.75/10 |
| AvaTrade | Licence number: 45984 | No. 70 Grayston Drive, 2nd Floor Sandton, Johannesburg, 2196 | AvaOptions, AvaSocial, DupliTrade, MT4, MT5 | 0.9 pips | 24/5 | |
| Score | 10 | 10 | 9 | 5 | 8 | 8.70/10 |
| XM | Licence number: 49976 | Office 1101D, 11th Floor, 4 Bree Street, Portside Building, Cape Town, 8000 | MT4, MT5 | 1.2 pips | 24/5 | |
| Score | 10 | 10 | 6 | 5 | 8 | 8.25/10 |
| HF Markets | Licence number: 46632 | Katherine & West Building, Suite 18, 2nd Floor, 114 West St, Sandton, Johannesburg, 2196 | MT4, MT5, HFM Platform | 1.4 pips | 24/5 | |
| Score | 10 | 10 | 7 | 4 | 8 | 8.25/10 |
The FXTS Verdict – Which are the Best FSCA Regulated Forex Brokers?
This well-researched guide helps traders find the best FSCA regulated forex brokers for 2025 in a clear, easy-to-understand leaderboard. Each broker featured has a strong presence in South Africa and strictly follows FSCA regulations.
Exness tops the list thanks to its tight spreads, varied trading platforms, and professional 24/7 customer support. IG and AvaTrade both rank in the top three due to their impressive range of platforms, with IG being the only South African CFD provider offering the ProRealTime platform to traders.
Rounding off the list are XM and HF Markets, both trusted brokers with active social media accounts catering to their large South African client bases.
FAQs
The Financial Sector Conduct Authority (FSCA) is the main regulatory body of the financial services sector in South Africa. It was first founded in 2018 to succeed the country’s previous regulator, the Financial Services Board (FSB). Based in Pretoria, the FSCA’s mandate is to enhance the efficiency and integrity of financial markets by promoting fair customer treatment by financial institutions.
The Financial Sector Conduct Authority (FSCA) is responsible for regulating and overseeing forex brokers in South Africa. First established in April 2018, it ensures that FSCA-licensed companies are compliant with financial laws, while also protecting traders from unfair practices.
The main purpose of the FSCA is to regulate forex brokerages and other financial services in South Africa. One of its key missions is to ensure that consumers are kept informed and protected by ensuring a fair and stable financial market, where companies that compromise consumer financial well-being are held accountable.
There are many FSCA regulated forex brokers. All financial services companies that are fully licensed with South Africa’s leading regulatory body are expected to follow strict financial regulations, maintain fair trading practices, and guarantee client fund protection. Traders can verify a broker’s official FSCA registration by checking the licence number on the regulator’s website.
The best brokers in South Africa are FSCA regulated. When choosing to open an account with a brokerage in South Africa, it’s important to check whether they are licensed. This is because regulated brokers are forced to follow strict rules, which reduces the chances of traders falling victim to financial scams or instability. Should any issues arise, the FSCA is available for traders to contact for support or guidance.
Most South African brokers are based in Johannesburg and Cape Town. Traders can check exactly where a broker’s office is located in South Africa by visiting the company’s website or by contacting their customer support team. Alternatively, the FSCA should have a record of a licensed broker’s address and be able to share any details they have stored on file.
