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The Financial Sector Conduct Authority (FSCA) is the market conduct regulator of financial institutions, that provide financial products and financial services, financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures. The FSCA is responsible for market conduct regulation and supervision. FSCA aims to enhance and support the efficiency and integrity of financial markets and to protect financial customers by promoting their fair treatment by financial institutions, as well as providing financial customers with financial education. The FSCA will further assist in maintaining financial stability.

FSCA

Regulated
AvaTrade
15-20 years
Regulated in Australia
Regulated in Japan
Regulated in Ireland
Regulated in United Arab Emirates
Regulated in South Africa
Regulated in The Virgin Islands
Forex Execution License (STP)
Forex Trading License (EP)
Market Making License (MM)
MT4 Full License
MT5 Full License
Self-developed
Global Business
9.51
Score
Regulated
EC markets
10-15 years
Regulated in Australia
Regulated in United Kingdom
Regulated in New Zealand
Regulated in South Africa
Regulated in Seychelles
Market Making License (MM)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
9.24
Score
Regulated
ATFX
10-15 years
Regulated in Australia
Regulated in Hong Kong
Regulated in United Kingdom
Regulated in Cyprus
Regulated in Cambodia
Regulated in South Africa
Regulated in Seychelles
Market Making License (MM)
Inst Market Making (MM)
Forex Execution License (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Regional Brokers
9.21
Score
Regulated
XM
15-20 years
Regulated in Australia
Regulated in Cyprus
Regulated in United Arab Emirates
Regulated in South Africa
Regulated in Kenya
Regulated in Belize
Market Making License (MM)
Derivatives Trading License (MM)
Derivatives Trading License (EP)
Forex Execution License (STP)
Securities Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Global Business
9.15
Score
Regulated
DBG MARKETS
10-15 years
Regulated in Australia
Regulated in United Kingdom
Regulated in South Africa
Market Making License (MM)
Inst Forex Execution (STP)
Forex Trading License (EP)
MT4 Full License
MT5 Full License
Global Business
8.81
Score
Regulated
TRADE NATION
15-20 years
Regulated in Australia
Regulated in United Kingdom
Regulated in South Africa
Regulated in Seychelles
Regulated in Bahamas
Market Making License (MM)
Derivatives Trading License (EP)
Derivatives Trading License (MM)
MT4 Full License
Self-developed
Global Business
Medium Risk
Offshore Regulation
8.71
Score
Regulated
vantage
10-15 years
Regulated in Australia
Regulated in South Africa
Regulated in Cayman Islands
Regulated in Vanuatu
Market Making License (MM)
Derivatives Trading License (EP)
Forex Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Global Business
8.71
Score
Regulated
VT Markets
10-15 years
Regulated in Australia
Regulated in South Africa
Market Making License (MM)
Forex Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Global Business
8.68
Score
Regulated
Neex
15-20 years
Regulated in Australia
Regulated in South Africa
Market Making License (MM)
Forex Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
8.64
Score
Regulated
ACY Securities
15-20 years
Regulated in Australia
Regulated in South Africa
Market Making License (MM)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Regional Brokers
8.62
Score
Regulated
Mitrade
15-20 years
Regulated in Australia
Regulated in Cyprus
Regulated in South Africa
Market Making License (MM)
Derivatives Trading License (EP)
Self-developed
Global Business
8.59
Score
Regulated
SBCFX
5-10 years
Regulated in Australia
Regulated in Hong Kong
Regulated in South Africa
Regulated in Seychelles
Market Making License (MM)
Precious Metals Trading (AGN)
Derivatives Trading License (AGN)
Derivatives Trading License (EP)
MT5 Full License
Global Business
Offshore Regulation
8.57
Score
Regulated
STARTRADER
10-15 years
Regulated in Australia
Regulated in South Africa
Regulated in Seychelles
Market Making License (MM)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Global Business
8.56
Score
Regulated
CPT Markets
15-20 years
Regulated in United Kingdom
Regulated in South Africa
Market Making License (MM)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
8.53
Score
Regulated
PU Prime
5-10 years
Regulated in Australia
Regulated in South Africa
Regulated in Seychelles
Market Making License (MM)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Global Business
8.41
Score
Regulated
Exness
10-15 years
Regulated in Cyprus
Regulated in United Kingdom
Regulated in South Africa
Regulated in Seychelles
Market Making License (MM)
Inst Market Making (MM)
Forex Trading License (EP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Global Business
8.29
Score
Regulated
Ultima
5-10 years
Regulated in United Kingdom
Regulated in South Africa
Forex Execution License (STP)
Derivatives Trading License (EP)
MT4 Full License
Self-developed
Global Business
8.13
Score
Regulated
MONETA MARKETS
5-10 years
Regulated in United Kingdom
Regulated in South Africa
Regulated in Seychelles
Forex Execution License (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Regional Brokers
High Potential Risk
Offshore Regulation
7.94
Score
Regulated
AXPM
5-10 years
Regulated in Australia
Regulated in South Africa
Market Making License (MM)
Derivatives Trading License (EP)
MT5 Full License
White label MT4
Regional Brokers
7.90
Score
Regulated
IronFX
15-20 years
Regulated in Cyprus
Regulated in United Kingdom
Regulated in South Africa
Regulated in The Virgin Islands
Forex Execution License (STP)
Derivatives Trading License (EP)
Market Making License (MM)
MT4 Full License
Self-developed
Regional Brokers
7.82
Score
Regulated
HFM
10-15 years
Regulated in United Kingdom
Regulated in South Africa
Regulated in Seychelles
Forex Execution License (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Global Business
7.74
Score
Regulated
VELOCITY TRADE
15-20 years
Regulated in Canada
Regulated in Australia
Regulated in United Kingdom
Regulated in South Africa
Regulated in Singapore
Derivatives Trading License (EP)
Inst Market Making (MM)
Inst Forex Execution (STP)
Forex Trading License (EP)
Market Making License (MM)
Self-developed
Suspicious Operational Region
High Potential Risk
7.73
Score
Regulated
GLOBAL FUTURES SERVICES
1-2 years
Regulated in Australia
Regulated in South Africa
Market Making License (MM)
Derivatives Trading License (EP)
MT5 Full License
Regional Brokers
7.73
Score
Regulated
ColmexPRO
15-20 years
Regulated in Cyprus
Regulated in South Africa
Market Making License (MM)
Derivatives Trading License (EP)
MT4 Full License
Self-developed
7.71
Score
Regulated
ACCM
15-20 years
Regulated in Australia
Regulated in South Africa
Regulated in Seychelles
Regulated in Vanuatu
Forex Execution License (STP)
Derivatives Trading License (EP)
Forex Trading License (EP)
MT4 Full License
MT5 Full License
Global Business
High Potential Risk
Offshore Regulation
7.66
Score
Regulated
B2BROKER
5-10 years
Regulated in Malaysia
Regulated in Cyprus
Regulated in South Africa
Regulated in United Arab Emirates
Regulated in Seychelles
Market Making License (MM)
Forex Trading License (EP)
Derivatives Trading License (MM)
Derivatives Trading License (EP)
cTrader
Self-developed
Regional Brokers
High Potential Risk
Offshore Regulation
7.54
Score
Regulated
InterStellar
10-15 years
Regulated in Cyprus
Regulated in South Africa
Regulated in Seychelles
Forex Execution License (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
7.52
Score
Regulated
AUS Global
10-15 years
Regulated in Cyprus
Regulated in South Africa
Market Making License (MM)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
cTrader
Self-developed
Global Business
7.51
Score
Regulated
doto
5-10 years
Regulated in South Africa
Regulated in Cyprus
Regulated in Seychelles
Forex Trading License (EP)
Forex Execution License (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
High Potential Risk
Offshore Regulation
7.44
Score
Regulated
TradeQuo
5-10 years
Regulated in South Africa
Regulated in Seychelles
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
7.31
Score
Regulated
Tickmill
10-15 years
Regulated in United Kingdom
Regulated in Cyprus
Regulated in South Africa
Market Making License (MM)
Forex Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Global Business
High Potential Risk
7.29
Score
Regulated
CFI
10-15 years
Regulated in Cyprus
Regulated in United Kingdom
Regulated in United Arab Emirates
Regulated in South Africa
Regulated in Seychelles
Regulated in Vanuatu
Regulated in Azerbaijan
Regulated in Jordan
Market Making License (MM)
Forex Execution License (STP)
Derivatives Trading License (EP)
Forex Trading License (EP)
Derivatives Trading License (MM)
Forex Trading License (AGN)
MT5 Full License
Regional Brokers
United Arab Emirates Derivatives Trading License (MM) Revoked
High Potential Risk
Offshore Regulation
7.23
Score
Regulated
MH Markets
5-10 years
Regulated in Australia
Regulated in South Africa
Forex Execution License (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
7.16
Score
Regulated
MEGA FUSION
5-10 years
Regulated in Australia
Regulated in South Africa
Inst Forex Execution (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Global Business
7.13
Score
Regulated
PGMarkets
10-15 years
Regulated in Australia
Regulated in South Africa
Regulated in Seychelles
Forex Execution License (STP)
Forex Trading License (EP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Regional Brokers
High Potential Risk
Offshore Regulation
6.91
Score
Domestic Regulation
Wdemoo(test)
1-2 years
Regulated in United States
Regulated in South Africa
Regulated in Australia
Forex Trading License (EP)
Derivatives Trading License (EP)
Authorized Representative (AR)
Suspicious Operational Region
Medium Risk
6.88
Score
Regulated
VAHA
5-10 years
Regulated in United Kingdom
Regulated in South Africa
Inst Forex Execution (STP)
Derivatives Trading License (EP)
MT4 Full License
Regional Brokers
6.87
Score
Regulated
traze
2-5 years
Regulated in Indonesia
Regulated in United Arab Emirates
Regulated in South Africa
Derivatives Trading License (AGN)
Forex Trading License (EP)
Derivatives Trading License (EP)
White label MT4
White label MT5
Self-developed
High Potential Risk
6.83
Score
Regulated
OTSO Markets
5-10 years
Regulated in Australia
Regulated in South Africa
Inst Forex Execution (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Regional Brokers
6.81
Score
Regulated
Scope Markets
5-10 years
Regulated in Cyprus
Regulated in South Africa
Regulated in Seychelles
Forex Execution License (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
High Potential Risk
Offshore Regulation
6.81
Score
Regulated
Trive
10-15 years
Regulated in Malta
Regulated in South Africa
Regulated in The Virgin Islands
Forex Trading License (EP)
Market Making License (MM)
MT4 Full License
MT5 Full License
Self-developed
Australia Market Making License (MM) Revoked
High Potential Risk
Offshore Regulation
6.66
Score
Regulated
ZIFI Markets Ltd
2-5 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
6.63
Score
Regulated
IUX
5-10 years
Regulated in Australia
Regulated in South Africa
Forex Execution License (STP)
Forex Trading License (EP)
MT5 Full License
Self-developed
Global Business
High Potential Risk
6.61
Score
Regulated
CWG Markets
5-10 years
Regulated in United Kingdom
Regulated in South Africa
Regulated in Vanuatu
Market Making License (MM)
Derivatives Trading License (EP)
Forex Trading License (EP)
MT5 Full License
White label MT4
Global Business
High Potential Risk
Offshore Regulation
6.61
Score
Regulated
uexo
2-5 years
Regulated in South Africa
Regulated in Mauritius
Derivatives Trading License (EP)
Securities Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Global Business
Offshore Regulation
6.60
Score
Regulated
Make Capital
5-10 years
Regulated in Australia
Regulated in South Africa
Securities Trading License (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Medium Risk
6.59
Score
Regulated
OnsaFX
1-2 years
Regulated in South Africa
Regulated in United States
Deriv Investment Advisory License (IA)
Currency Exchange License (MSB)
MT5 Full License
Regional Brokers
6.57
Score
Regulated
eurotrader
10-15 years
Regulated in Cyprus
Regulated in South Africa
Market Making License (MM)
Derivatives Trading License (EP)
Suspicious Operational Region
High Potential Risk
6.55
Score
Regulated
EBC FINANCIAL GROUP
5-10 years
Regulated in Australia
Regulated in United Kingdom
Regulated in South Africa
Regulated in Cayman Islands
Forex Execution License (STP)
Inst Forex Execution (STP)
Forex Trading License (EP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Global Business
High Potential Risk
Offshore Regulation
6.53
Score
Regulated
Spec Markets
1-2 years
Regulated in Australia
Regulated in South Africa
Inst Forex Execution (STP)
Derivatives Trading License (EP)
MT5 Full License
Regional Brokers
6.42
Score
Regulated
evest
5-10 years
Regulated in South Africa
Regulated in Vanuatu
Forex Trading License (EP)
MT5 Full License
Self-developed
Regional Brokers
High Potential Risk
Offshore Regulation
6.38
Score
Regulated
WISDOM
2-5 years
Regulated in Australia
Regulated in South Africa
Inst Forex Execution (STP)
Derivatives Trading License (EP)
MT5 Full License
Regional Brokers
6.35
Score
Regulated
RKX
1-2 years
Regulated in United Kingdom
Regulated in South Africa
Inst Forex Execution (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Regional Brokers
6.34
Score
Regulated
FXTM
15-20 years
Regulated in South Africa
Regulated in Mauritius
Regulated in Kenya
Derivatives Trading License (EP)
Securities Trading License (EP)
Forex Execution License (STP)
MT5 Full License
MT4 Full License
Self-developed
Global Business
High Potential Risk
Offshore Regulation
6.11
Score
Regulated
QUBE MARKETS
2-5 years
Regulated in South Africa
Regulated in Australia
Derivatives Trading License (EP)
Inst Securities Trading License (STP)
MT5 Full License
Regional Brokers
6.10
Score
Regulated
FXBTG
15-20 years
Regulated in South Africa
Forex Trading License (EP)
MT4 Full License
Global Business
5.99
Score
Regulated
FXVIEW
5-10 years
Regulated in Cyprus
Regulated in South Africa
Derivatives Trading License (STP)
Derivatives Trading License (EP)
Self-developed
5.99
Score
Regulated
Opofinance
2-5 years
Regulated in South Africa
Regulated in Seychelles
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
cTrader
Self-developed
High Potential Risk
Offshore Regulation
5.99
Score
Regulated
XS
2-5 years
Regulated in Australia
Regulated in South Africa
Regulated in Seychelles
Inst Forex Execution (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Regional Brokers
High Potential Risk
Offshore Regulation
5.96
Score
Regulated
TRADE.COM
10-15 years
Regulated in Cyprus
Regulated in South Africa
Market Making License (MM)
Derivatives Trading License (EP)
MT5 Full License
High Potential Risk
5.94
Score
Regulated
 xChief
5-10 years
Regulated in South Africa
Regulated in Comoros
Derivatives Trading License (EP)
Forex Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
High Potential Risk
Offshore Regulation
5.88
Score
Regulated
ZENORA
Within 1 year
Regulated in Australia
Regulated in South Africa
Inst Forex Execution (STP)
Derivatives Trading License (EP)
MT5 Full License
Regional Brokers
5.88
Score
Regulated
IFC Markets
5-10 years
Regulated in South Africa
Regulated in The Virgin Islands
Derivatives Trading License (EP)
Market Making License (MM)
MT4 Full License
MT5 Full License
Self-developed
Global Business
High Potential Risk
Offshore Regulation
5.79
Score
Regulated
IS6FX
5-10 years
Regulated in South Africa
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
5.73
Score
Regulated
naqdi
2-5 years
Regulated in South Africa
Forex Trading License (EP)
MT5 Full License
Regional Brokers
Medium Risk
5.68
Score
Regulated
InvidiaTrade
1-2 years
Regulated in South Africa
Regulated in Saint Lucia
Derivatives Trading License (EP)
Legal Opinion (LO)
MT5 Full License
Regional Brokers
Offshore Regulation
5.68
Score
Regulated
RIYADEX FINANCIALS
1-2 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
Regional Brokers
5.57
Score
Regulated
bestonFX
2-5 years
Regulated in South Africa
Regulated in Comoros
Derivatives Trading License (EP)
Forex Trading License (EP)
MT5 Full License
Global Business
High Potential Risk
Offshore Regulation
5.55
Score
Regulated
Wdemo
2-5 years
Regulated in Cyprus
Forex Execution License (STP)
Suspicious Operational Region
Medium Risk
5.53
Score
Regulated
RubyFX
1-2 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
Regional Brokers
5.51
Score
Regulated
NXG MARKETS
2-5 years
Regulated in South Africa
Regulated in United States
Derivatives Trading License (EP)
Currency Exchange License (MSB)
MT5 Full License
Regional Brokers
High Potential Risk
5.50
Score
Regulated
PrimeXBT
5-10 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
Self-developed
Global Business
High Potential Risk
5.47
Score
Regulated
SIMPLEFX
5-10 years
Regulated in South Africa
Derivatives Trading License (EP)
Self-developed
Regional Brokers
Medium Risk
5.46
Score
Regulated
CBCX
15-20 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
MT4 Full License
Global Business
High Potential Risk
5.39
Score
Regulated
Orbis securities
Within 1 year
Regulated in South Africa
Forex Trading License (EP)
MT4 Full License
MT5 Full License
Regional Brokers
5.30
Score
Regulated
Anshin
5-10 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
Self-developed
Regional Brokers
5.25
Score
Regulated
onequity
2-5 years
Regulated in South Africa
Regulated in Seychelles
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Global Business
Offshore Regulation
5.23
Score
Regulated
cfeg markets pty ltd
Within 1 year
Regulated in South Africa
Regulated in Australia
Derivatives Trading License (EP)
Authorized Representative (AR)
MT5 Full License
Regional Brokers
5.21
Score
Regulated
TRADU
2-5 years
Regulated in South Africa
Regulated in Seychelles
Derivatives Trading License (EP)
Self-developed
Medium Risk
Offshore Regulation
5.19
Score
Regulated
BROKSTOCK
5-10 years
Regulated in South Africa
Derivatives Trading License (EP)
Self-developed
Suspicious Operational Region
5.16
Score
Regulated
LOYAL PRIMUS
2-5 years
Regulated in South Africa
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Global Business
High Potential Risk
4.99
Score
Regulated
PPFX
2-5 years
Regulated in South Africa
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Global Business
4.96
Score
Regulated
JP Markets
5-10 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
Medium Risk
4.95
Score
Regulated
STOICFX
1-2 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
Global Business
4.93
Score
Regulated
RCG Markets
5-10 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
White label MT4
High Potential Risk
4.90
Score
Regulated
SPACE MARKETS
2-5 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
4.89
Score
Regulated
TotalFX
2-5 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
Regional Brokers
4.86
Score
Regulated
ROCKETX
2-5 years
Regulated in South Africa
Derivatives Trading License (EP)
White label MT5
Regional Brokers
4.85
Score
Regulated
iFX Brokers
5-10 years
Regulated in South Africa
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
4.84
Score
Regulated
vestrado
5-10 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
Global Business
High Potential Risk
4.84
Score
Regulated
ARFX
2-5 years
Regulated in South Africa
Derivatives Trading License (EP)
MT4 Full License
Regional Brokers
4.84
Score
Regulated
LHFX
2-5 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
Regional Brokers
4.82
Score
Regulated
NEOTECH
1-2 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
4.74
Score
Regulated
KEY TO SECURITIES
2-5 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
White label MT4
Global Business
4.72
Score
Regulated
fptrading
Within 1 year
Regulated in South Africa
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
4.71
Score
Regulated
ACI
2-5 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
Regional Brokers
High Potential Risk
4.70
Score
Regulated
TibiGlobe
2-5 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
Global Business
High Potential Risk
4.67
Score
Regulated
Maxify
2-5 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
Regional Brokers
Medium Risk
4.66
Score
Regulated
MT.COOK
5-10 years
Regulated in South Africa
Derivatives Trading License (EP)
Suspicious Operational Region
High Potential Risk
4.64
Score
Regulated
WeGolden
1-2 years
Regulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
Regional Brokers
4.58
Score