#1
Investec
No RegulationSouth AfricaEst. 1969FCA
75Score
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.
| Broker | Score | Opened | Other regulators on file | WIKILIX status label |
|---|---|---|---|---|
| Avior Capital Markets | 71.6 | 2022 | FCA, SEC | regulation |
| Duo Markets | 65.1 | 2021 | FCA, CMVM, CMA, SCB | regulation |
| FXVIEW | 61.1 | 2009 | CySEC, FCA | suspiciousClone |
| FXNovus | 50.0 | 2020 | CySEC | suspiciousClone |
| TD Markets | 49.3 | 2015 | none | exceeded |
| Global GT | 48.9 | 2020 | FSA, VFSC, CySEC | regulation |
| Space Markets | 48.6 | 2023 | none | noRegulation |
| Standard Bank | 48.3 | 1862 | NFA | regulation |
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.
25brokers on this list
Researched & ranked by the Wikilix team
- #2
Standard Bank
RegulatedSouth AfricaEst. 1862FSCA67Score - #3
FX-EDGE
OffshoreSouth AfricaEst. 2016FSCA
62Score - #4
F-WISE CAPITAL (PTY) LTD
Suspicious CloneSouth AfricaEst. 2017FSCA56Score - #5
Finvasia Capital South Africa (PTY) LTD
Suspicious CloneSouth AfricaEst. 2009CySEC
52Score - #6
Space Markets (Pty) Ltd
No RegulationSouth AfricaEst. 2023FSCA51Score - #7
Duo Markets
RegulatedSouth AfricaEst. 2021FSCA
50Score - #8
QUANT TEKEL Pty Ltd
Suspicious CloneSouth AfricaEst. 2023FSCA49Score - #9
GT IO MARKETS (PTY) LTD
RegulatedSouth AfricaEst. 2020FSCA49Score - #10
AVIOR CAPITAL MARKETS (PTY) LTD
RegulatedSouth AfricaEst. 2022FSCA
48Score - #11
BROKSTOCK SA (PTY) LTD
ExceededSouth AfricaEst. 2020FSCA47Score - #12
TibiGlobe
RegulatedSouth AfricaEst. 2022FSCA
47Score
This page rebuilds itself from the licence and domicile records behind it, so the count moves when the underlying data moves rather than when someone remembers to edit a paragraph. The status labels are the part worth watching. A firm we have flagged as a suspicious clone or as operating beyond its licence can have that label lifted, and a firm sitting clean today can pick one up, which is why the label on the card matters more than its position in the order.
If the domicile boundary is not what you needed, the neighbouring lists cut the same data other ways. The full FSCA list drops the South Africa condition and covers every licensee we hold, wherever it is registered. FSCA brokers with 10 or more years filters the same set on operating history instead of location. FCA regulated brokers based in the UK is this page's exact counterpart for a tier-1 jurisdiction, and brokers registered in Saint Vincent and the Grenadines shows what the same domicile question looks like where there is no licensing regime behind it at all.
None of these lists records who a broker accepts as a client. That is set by each firm's own terms, and it changes without notice.
Frequently Asked Questions
Frequently asked questions
Answers from the Wikilix research team about this ranking.
Most Popular Questions
Our records do not cover that. This list is built from where each firm is registered and which licences it holds, and neither field says which countries a broker accepts clients from. That decision is made by each firm and set out in its client agreement, so check the terms on the broker's own site and confirm the entity named there matches the licence.
No, and that gap is the reason this page exists. An FSCA licence is granted to a firm operating in the South African market; it says nothing about where that firm is incorporated. Exness is registered in Cyprus, IG in the United Kingdom and HF Markets in Mauritius, and all three hold FSCA licences in our records while sitting outside this list.
We hold a maximum leverage figure for 46 of the 52. It ranges from 1:1 at the low end up to 1:3000, the figure recorded against EMAR Markets, and 19 of those 46 sit at 1:1000 or above. Six firms, mostly banks and older securities houses, have no leverage figure recorded at all.
They are WIKILIX's own recorded labels, not the FSCA's. A regulation label means we hold a licence on file with nothing flagged against it. The exceeded, suspicious clone and no regulation labels each record a concern our research team logged against that firm. The detail sits on the broker's own page, and you should read it there before you draw a conclusion.
Standard Bank, with a recorded opening date of 1862. It is an extreme outlier on this list. Only nine of the 52 opened before 2010, and 26 of the 51 with a recorded opening date started in 2020 or later. The median WIKILIX score across the whole set is 41.5, on a range running from 26.8 to 71.6.
Fifty-two, as of today. Twenty of them carry our clean regulation status label. Fifteen carry an exceeded label, fourteen a suspicious clone label and three a no regulation label, so 32 of the 52 have something recorded against them. None carries a scam label. The list is generated from licence records rather than maintained by hand.
That question has two answers and they are not the same list. Fifty-two firms in our records hold an FSCA licence and are registered in South Africa, and they are the ones ranked here. Many more hold an FSCA licence while being registered abroad. Neither fact tells you whether a broker will take you on as a client, which is set by its own terms.
The WIKILIX database holds FSCA licences for brokers registered in many countries, not only South Africa. This page shows the 52 that are both FSCA licensed and registered as South African companies, from Avior Capital Markets at the top of the score order down to AfriMarkets Capital. The wider FSCA list drops the domicile condition and adds groups such as Exness, IG and HF Markets.