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Best FSCA Regulated Forex Brokers 2022

When you are looking for forex trading options, is it not necessary to go with any specific broker? You can choose one that you like from the globally available options. There must be no issues as international brokers like IC Markets offer their services in South Africa. It had an $18.9 daily trading volume in 2021.

So, you might be thinking that going with such an option will not be an issue. However, it is always better to go with something that follows local regulations. For the forex traders of South Africa, it is best to go with the Best Regulated Forex Brokers.

Best FSCA Regulated Forex Brokers in South Africa

1

R3500 Deposit

97% Payout

Rating: 4.7/5

FSA regulated

R 3500 97% Payout - Rating: 4.7/5
2

R1500 Deposit

97% Payout

Rating: 4.7/5

ASIC Regulated

R 1500 97% Payout - Rating: 4.7/5
3

R1800 Deposit

97% Payout

Rating: 4.7/5

FSCA regulated

R1800 FSCA regulated - Rating: 4.7/5
4

R3 200 Deposit

97% Payout

Rating: 4.7/5

ASIC Regulated

R3 200 97% Payout - Rating: 4.7/5
5

R 1500 Deposit

97% Payout

Rating: 4.7/5

CySEC Regulated

R 1500 97% Payout - Rating: 4.7/5
6

R 70 Deposit

97% Payout

Rating: 4.7/5

CySEC Regulated

R 70 97% Payout - Rating: 4.6/5
7

R 150 Deposit

97% Payout

Rating: 4.7/5

FSA regulated

R 150 97% Payout - Rating: 4.7/5
#8

R80 Deposit

97% Payout

Rating: 4.7/5

FSA regulated

R80 97% Payout - Rating: 4.3/5
9

R100 Deposit

97% Payout

Rating: 4.7/5

FSCA regulated

R100 97% Payout - Rating: 4.8/5
10

R 500 Deposit

97% Payout

Rating: 4.7/5

FSA regulated

R 500 97% Payout - Rating: 4.8/5

Top South African FSCA Regulated Brokers Reviewed

FSCA Regulated brokers South Africa

Tickmill – Best FSCA Forex Broker

If you are from South Africa and are interested in Forex Trading, then Tickmill is an option you must consider.. It brings many additional features that enhance the experience for every forex trader.

Features

  • Instant deposits
  • MT5 and MT4 platforms
  • Instant support chat

Pros

  • Low commissions with tight spreads
  • Free deposits and withdrawals
  • Trading options for several stocks and commodities

Cons

No local call support

IG Markets – Best FSCA MT4 broker

IG Markets is the biggest forex broker in the whole world by revenue which means it is one of the most reliable services. FSCA regulations enhance the reliability, while the MT4 platform takes this reliability for trading to another level. There are a lot of feature choices and benefits that you enjoy when using IG markets.

Features

  • Provides all the learning stuff
  • Allows for free add-ons
  • Free auto chartist feature

Pros

  • It brings very tight spreads
  • Amazing market analysis
  • Keeps you up to date with news and trends

Cons

Minimum deposits are high

CM Trading – Most Popular

CM Trading is among the most popular FSCA forex brokers in South Africa. It was only because of the exceptionally well services that it won several awards. CM Trading also brings an intuitive experience for all users from South Africa.

Features

  • Provides optional ECN option
  • Personal account management features
  • Protection against negative balance

Pros

  • Customer support in South Africa is amazing
  • Provides copy trading option
  • An effective option for beginners.

Cons

Withdrawals are expensive

Khwezi Trade – Best Local Forex Broker with FSCA regulation

Khwezi Trade is the forex broker that mainly focuses on providing the best services, focusing on South African Locals. It provides tight spreads making it a better choice for many forex traders, and local offices, staff, banks, and other local features make it the best local forex broker for South Africans.

Features

  • STP working model
  • MT4 platform
  • All funds are present in Standard Bank, making things very reliable

Pros

  • Supports ZAR accounts
  • Quick withdrawals
  • No additional fees on withdrawals

Cons

Only provides a local regulation

Hotforex – Best STP

HotForex brings its services as the best STP forex broker in South Africa. It is also among the cheapest forex brokers operational in South Africa. While low trading fees make it attractive, FSCA regulations make it reliable. As a result, HotForex is among the favorite choices for forex trading in South Africa.

Features

  • 100% STP model
  • ZAR accounts available
  • Supports transfers from most major banks

Pros

  • Low spreads
  • Bonuses for new accounts
  • Quick and helpful chat support

Cons

Wire transfer is not that effective

FXTM – Best well-regulated forex broker with FSCA Regulation

The last one here is FXTM, which is said to be the most well-regulated option in South Africa. In comparison with other options, FXTM provides quick services with great customer support. However, some things like higher fees make it not the best option for beginners.

Features

  • Offers a wide range of trading instruments
  • Free education and training for newcomers
  • MT5 and MT4 platforms

Pros

  • No deposit fees
  • Quick withdrawal
  • Mobile apps available for Android and iOS

Cons

Live chat support is only available 24/5

How to know which is the right option from Best FSCA (FSB) Regulated Forex Brokers?

To find the best FSCA forex broker, you should consider the following options.

  • Make sure that the broker is regulated by FSCA. It is always better to pick brokers who have their local offices, which you can visit anytime.
  • The trading and spread fees or broker should be highly competitive and manageable in the budget that you have.
  • They should offer reliable customer support through various online platforms.
  • Having an FSCA forex broker on popular and latest trading platforms is always a plus point.
  • They should have low or no withdrawals and funding fees.

Benefits of selecting one of the Best FSCA (FSB) Regulated Forex Brokers

Some interesting benefits of working with an FSCA forex broker are.

  • FSCA monitors the activities of the brokers, including the market of CFDs and their derivatives, to make sure that there are no misrepresentations or irregularities.
  • Authorities ensure that the market is functioning smoothly, so there are no adverse effects.
  • Moreover, any misconduct by the FSCA forex broker will be punished with the local laws, which the investors will be aware of.
  • FSCA forex brokers always have a license that they get when they meet all the requirements and regulations. If there is any type of shady history, the broker will not be approved by authorities.

To increase awareness among investors and new brokers, FSCA provides special financial education. It helps the investors make the best decisions when trading. You can give it a go in the start too.

Final Verdict

Working with an FSCA forex broker will give you peace of mind that your hard-earned money is in safe hands. Moreover, you will know that any type of misconduct will be punished, and you will not have to deal with any scams. As of 2020, there were 1.3 million traders in Africa, and this number keeps on growing. So, make sure to select one from the best FSCA (FSB) regulated forex brokers.

Its important to check the basic offerings of all these brokers before making the decision. You need to invest wisely to get the best results.