|UK, Cyprus, South Africa, UAE||/5||$1||Read the review|
|UK, Australia, South Africa||/5||$50||Read the review|
|UK, Cyprus, Dubai, South Africa, Seychelles||/5||$50||Read the review|
|UK, Cyprus, South Africa, Mauritius||/5||$10||Read the review|
|South Africa||/5||$150||Read the review|
The Financial Sector Conduct Authority (FSCA) is the longstanding license issuer for forex businesses in South Africa. At times there is confusion with the Financial Service Board (FSB), but all there is to know is that the FSCA is the successor of the FSB, and that it inherits all the powers from its predecessor, meaning that the FSCA has just the same authority, if not more, than that of the FSB.
The FSCA oversees the non-banking financial services sector, which included clearing houses, securities exchanges, and, of course, forex brokers. The watchdog’s main duties are to enhance the protection of investors, and to ensure that the conduct of the South African capital market is bound by the rules and laws set by both the regulator and the local government.
The FSCA, as any regulator does, keeps an online database with all registered entities, that is made public so traders can be informed about a broker and its current legitimacy.
South Africa has becoming an increasingly popular destination with both traders and brokers alike, for two essential reasons. First, the country allows for binary options trading, and has looser restrictions on CFD trading, including the freedom of a higher leverage(higher than 1:30). And second, even though this freedom is allowed, the FSCA is actually a very respected regulatory agency, that is always on the grow, and slowly is establishing itself as one of the top non EU/US to do so.