FSCA Regulated Brokers Based in South Africa

Fifty-two brokers in the WIKILIX database hold a licence from South Africa's Financial Sector Conduct Authority and carry a South African registered address. That second condition is what separates this page from the ten-best lists: it leaves out the international groups that hold an FSCA licence but are registered somewhere else entirely.

They are ordered by WIKILIX score, from Avior Capital Markets at 71.6 down to AfriMarkets Capital at 26.8, with a median of 41.5. Twenty of the 52 carry our clean regulation label. The other 32 carry a flag, and they are still on this page, labelled, because quietly dropping them would tell you less than the FSCA's own register does.

Where the boundary sits, and what it leaves out

Two conditions, both read from our own records. The firm holds at least one licence issued by the Financial Sector Conduct Authority. The firm's registered address is South Africa. Nothing in the ordering is a judgement about pricing or service.

The exclusions are the useful part. Exness Technologies is registered in Cyprus, IG Group in the United Kingdom, HF Markets in Mauritius and ThinkMarkets in Australia. All four hold an FSCA licence in our records, and all four are absent here because their registered address is not South African. If you came looking for one of them, that is the reason. The full FSCA regulated brokers list ignores domicile and includes them.

How we built this list

The query is two filters and a sort: the Financial Sector Conduct Authority as the licensing body, South Africa as the country of registration, ordered by WIKILIX score descending. Nobody hand-picked the 52. A firm that gains or loses an FSCA licence, or whose registered address changes in our records, joins or leaves this page without anyone editing it.

The WIKILIX score is our own composite, built from the licences we hold on file for a broker, its recorded operating history and the checks our research team runs. It measures none of the things a price comparison would. We hold no spread, commission or minimum deposit figures, so none of that feeds the order.

We classify the FSCA at tier 2. Seven of these 52 also hold at least one tier-1 licence: Avior, Duo Markets and FXVIEW through the FCA, Standard Bank through the NFA, and OnsaFX and Beston Internet Technology through FinCEN. The remaining 45 hold nothing above tier 2 in our records.

What the register actually looks like

It is young. Twenty-six of the 51 firms with a recorded opening date began operating in 2020 or later, and only nine opened before 2010. Standard Bank, dated 1862, is the outlier by more than a century.

It is also thin on multi-jurisdiction firms. Fifteen of the 52 hold a licence from more than one authority; the other 37 hold the FSCA and nothing else on file. Leverage runs wide: 46 have a recorded maximum, ranging from 1:1 up to the 1:3000 recorded against EMAR Markets, and 19 of those 46 sit at 1:1000 or above.

Before you open an account

• Look up the FSP number on the FSCA's own register and check the name on it matches the entity printed on your client agreement.
• Check what that FSP is authorised to do. Permission to advise is not permission to deal.
• Read the status label on the broker's own WIKILIX page before you read anything else about it.
• Confirm which legal entity you are contracting with. Several groups here operate a South African company alongside an offshore one, and only one of them is on this list.
• Ask where client money is held and under whose name.

What this page cannot tell you: whether a broker will accept you as a client, what it charges, or how it fills an order. All of it reflects the licence records in the WIKILIX database as of today, so confirm anything that matters on the FSCA register before you deposit.