FSCA Regulated Forex Brokers & CFD Platforms
Regulation: FSCA, CySEC, FCA, ASIC
Spreads: as low as 0,6 pips (Dynamic)
Max. leverage: 1:30, Forex pairs: 71
Min. deposit: 1 500 ZAR/100$
Plus500 is an FSCA licensed broker that supports speculation on over 2 000 trading instruments. The company features an in-house built trading platform, a trading account in ZAR and tight spreads starting on major currency pairs from 0,6 pips. When it comes to forex trading, you can trade 71 forex pairs (including EUR/ZAR, USD/ZAR and GBP/ZAR) with up to 1:30 leverage.
CFD Service. Your capital is at risk.
Regulation: FSCA, IFSC, FCA, CySEC
Spreads: as low as 0,3 pips
Max. leverage: 1:2000, Forex pairs: 107
Min. deposit: 15 ZAR/1$
Exness, an FSCA regulated broker, offers to SA traders very high leverage ranging up to 1: 2000. The company features two popular trading platforms – MT4 and MT5 and a trading account in ZAR. Regarding spreads, they are very competitive and on major pairs, they start from as low as 0,3 pips. In the forex asset category, you can find 107 currency pairs including 7 currency pairs with ZAR.
Regulation: FSCA, ASIC
Spreads: as low as 0,9 pips
Max. leverage: 1:400, Forex pairs: 55
Min. deposit: 100$
AvaTrade, a broker regulated by the FSCA, provides access to popular forex trading platforms – MT4 and MT5. The company supports trading with up to 1:400 leverage. When it comes to fees, AvaTrade spreads on major currency pairs can be as low as 0,9 pips.
The broker offers access to 55 forex pairs (including USD/ZAR and EUR/ZAR) and also has a local office in Johannesburg.
What Do FSCA-Regulated Forex Brokers Bring to Your Table?
The principal benefit that trading with a regulated broker brings is investor protection. The FX market is a global enterprise worth nearly 6 trillion dollars. Wherever there is such a large pool of funds, you are sure to get a lot of scammers pouring into such spaces, looking for gullible traders to devour.
This is where the regulators come into the picture. Regulation of a financial market ensures that the operators in this market are known and properly registered. The searchlight is always beaming on the operators to ensure they are playing by the rules and not doing things that take advantage of their clients. Regulation ensures that there is a level playing field for everyone. Regulation ensures that the scammers are kept away. Some regulators like the FSCA also provide early warning signs to their clients, so that traders can be informed enough to identify and avoid all forex market scams completely.
So here is what you get with the best FSCA-regulated forex brokers in South Africa:
FAQ – FSCA Regulated Forex Brokers
FSCA runs a system that instantly informs you whether a broker is indeed FSCA-regulated or not. To verify if a broker you selected is regulated, head to the internal search engine on the FSCA website, where you can can type in the name of a forex broker and find out their status.
This is done by clicking on the “Financial Services Providers Search” icon and typing the broker’s name into the text box on the next page. Alternatively, there is a call centre that can assist clients by phone with this information.
Many people ignore the exotic pairs without realizing that these pairs have the crazy potential for profit. Their range of movements is very large and they have correlations that can easily be tracked and traced. Take the USD/ZAR for instance.
Do you love to trade interest rate potentials, especially now that the interest rates in developed countries are at record lows? Trading the USD/ZAR is one of the best ways to take advantage of the interest rate differentials between the developed world and the emerging markets. The USD/ZAR is easily accessible to those who use FSCA-regulated forex brokers.
Now that you know the benefits you can get by using FSCA-regulated forex brokers in South Africa, it is up to you if you decide to trade with a forex broker that is regulated by this regulatory body but we highly recommend on doing so. Today, the forex market in South Africa is so attractive to forex brokers that it is not a big issue to find a trustworthy company with solid trading conditions that is also licensed by the local financial regulator FSCA.