Best FSCA Regulated Forex Brokers in South Africa 2025
Forex trading in South Africa continues to grow rapidly, supported by a mature financial sector and a growing community of retail traders in major hubs such as Johannesburg and Cape Town. For those trading locally, choosing an FSCA regulated forex broker is the safest and most responsible option, as it ensures compliance with South African financial laws and provides enhanced protection for client funds.
Established in 2018, the Financial Sector Conduct Authority (FSCA) replaced the former Financial Services Board (FSB) as South Africa’s primary financial regulator. The FSCA is widely recognised for its strict supervisory standards, focus on transparency, and efforts to uphold fair market practices across the country’s financial industry.
After an extensive review of numerous firms, our FX Trust Score team identified the Top 5 FSCA Regulated Forex Brokers for 2025. Each broker was evaluated for its regulatory compliance, trading conditions, customer support and overall reputation among South African traders.
Overview of FSCA Regulated Forex Brokers
Exness
Rating: 4.55 / 5
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
IG
Rating: 4.37 / 5
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
AvaTrade
Rating: 4.35 / 5
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
XM
Rating: 4.12 / 5
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
HF Markets
Rating: 4.12 / 5
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 | 9.1/10 |
| 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 | 8.7/10 |
| 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 guide highlights the best FSCA regulated forex brokers for 2025, helping South African traders make informed decisions when choosing a trusted trading partner. Every broker featured was verified on the FSCA public register and has a strong operational presence within the country.
Exness ranked first overall, praised for its consistently low spreads, flexible trading conditions, and excellent 24/7 customer support. It also offers multiple platforms, including MetaTrader 4 and MetaTrader 5, making it a versatile choice for traders of all experience levels.
In close second and third positions are IG and AvaTrade, both of which offer advanced platform suites and solid regulatory credentials. Notably, IG is currently the only South African CFD provider offering access to the ProRealTime platform, a favourite among technical traders.
Completing the top five are XM and HF Markets, two well-established brokers known for their local engagement and accessible trading solutions. Both firms actively cater to South African clients through educational resources, community events, and responsive support teams.
FSCA’s Role in Forex Broker Oversight
The Financial Sector Conduct Authority (FSCA) serves as South Africa’s official market conduct regulator, responsible for supervising financial service providers and ensuring the integrity of the national financial system.
The FSCA licenses and monitors regulated forex brokers operating within South Africa, holding them accountable for their trading conditions, client fund management and overall business practices. The regulator also maintains a public register of authorised firms, allowing traders to easily verify a broker’s legitimacy before opening an account.
Beyond regulation, the FSCA actively works to protect consumers by issuing regular alerts about scams and unauthorised entities. Its enforcement powers allow it to investigate and sanction firms that breach financial laws.
Looking forward, the FSCA is focused on improving regulatory efficiency, strengthening transparency and further enhancing investor protection as South Africa’s trading landscape continues to expand.
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.
Publication date:
31/05/2024
Author: FX Trust Score
Last updated on October 10, 2025
