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In this article, we turn our focus to the field of Forex trading, highlighting brokers regulated by the Financial Sector Conduct Authority (FSCA). A bit about the FSCA - it's a governing body established in South Africa in 2018, responsible for regulating financial market conduct including entities like banks and financial service providers.

FSCA
Established 2018
Country South Africa
Website https://www.fsca.co.za/Pages

Our focal point is the performance of these FSCA-regulated brokers, where we bequeath to you an exclusive top 10 list. We've reached this ranking by conducting deep-rooted research followed by employing a reliable methodology. This method included weighing facets such as user reviews, trading conditions, platform capabilities, customer service quality, and strict adherence to regulations.

This invaluable resource is aimed at aiding your trading preferences, especially given the benefits of choosing a broker regulated in your local area. Consequently, this piece would be particularly insightful for individuals residing in or based in South Africa.


Best FSCA Regulated Forex Brokers

Best Overall, Comprehensive Trading Platforms

Best for Low Spreads

Best Range of Account Types

more

Comparion of Best FSCA Regulated Forex Brokers

Forex Broker

License

Minimum Spread

Maximum Leverage

Minimum Deposit

Open account

Details

Compare

8.30
Regulated
0.9
1:400
$100
Regulated
0.0
1:500
$100
8.37
Regulated
0.0
1:∞
$10

4

HFM
8.25
Regulated
0.5
1:2000
$5
7.86
Regulated
0.5
1:30
$100
7.74
Regulated
0.6
1:1000
$100
6.55
Regulated
0.0
1:2000
$10

8

IG
8.49
Domestic Regulation
1
1:200
$250
9.46
Regulated
1.3
1:1000
$50
7.14
Regulated
0.0
1:30
$50

Best FSCA Regulated Forex Brokers Reviewed

① AvaTrade

Best Overall, Comprehensive Trading Platforms

AvaTrade is a globally recognized online broker headquartered in Dublin, Ireland. Since its establishment in 2006, it has been committed to providing trading services in over 1250 financial instruments, including forex, stock index, stock, commodities, and ETFs.

The broker stands out for its versatility, offering a range of trading platforms that cater to different trading styles and preferences. These comprise their in-house platform AvaTradeGo, the highly popular MetaTrader 4 and MetaTrader 5 platforms, an automated trading platform, AvaOptions for options trading, and AvaSocial for social trading.

Importantly, AvaTrade holds a significant FSCA (Financial Sector Conduct Authority) regulatory license under license number 45984, and other substantial regulatory licenses from authorities worldwide. This attests to AvaTrade's commitment to adherence to strict regulatory standards, ensuring utmost safety and transparency for its traders.

AvaTrade
⭐⭐⭐⭐⭐
FSCA No. 45984
Regulation FSCA, CBI, FCA, ASIC, FSA, FFAJ
Min. Deposit $100
Market Instruments 1250+, forex, stock index, stock, commodities, ETFs
Demo Account Yes ($10,000 in virtual capital, lasts for 21 days and can be renewed upon request)
Max. Leverage 1:30 (retail), 1:400 (professional)
Spreads & Commissions (Forex) Typical 0.9 pips on (EUR/USD) & commission-free
Trading Platforms MT4, MT5, WebTrader, AvaTrade Go
Deposits & Withdrawals MasterCard, Visa, PayPal, Skrill, Neteller, Wire Transfer, etc.
Customer Support Mon - Fri 8:00 - 23:00 live chat, phone, email

Pros:

Global Regulation: AvaTrade is regulated by several organizations worldwide, including the South African Financial Sector Conduct Authority (FSCA), the Australian Securities & Investments Commission (ASIC), and the Japanese Financial Services Agency (FSA), and others.

Diverse Trading Platforms: They offer a variety of trading platforms, including their proprietary AvaTradeGo, as well as MetaTrader 4, MetaTrader 5, AvaOptions for options trading, and AvaSocial.

Wide Range of Financial Instruments: AvaTrade offers a good selection of trading instruments, including forex, stock index, stock, commodities, and ETFs.

Cons:

× Slow Withdrawal Process: Some users have reported a slow withdrawal process with AvaTrade.

× Limited Customer Support Time: While AvaTrade offers customer support, some traders have reported issues with its efficiency and responsiveness. Their customer service is only available from Mon - Fri 8:00 - 23:00.


② FP Markets

Best for Low Spreads

FP Markets is a well-regarded online broker that offers trading services in Forex and Contracts for Difference (CFDs). Some features include a wide range of tradable assets, advanced trading platforms, competitive spreads, and robust customer support. While they're based in Australia and regulated by the Australian Securities and Investments Commission (ASIC), they also have a CySEC regulation for European clients, as well as FSCA regulation for South African clients.

FP Markets
⭐⭐⭐⭐⭐
FSCA No. 50926
Regulation FSCA, ASIC, CYSEC
Min. Deposit $100 AUD or equivalent
Market Instruments Forex, stocks, index, commodities, bonds, precious metals, cryptocurrencies
Demo Account Yes
Max. Leverage 1:500
Spreads & Commissions (Forex) From 1.0 pips & commission-free (Std)
Trading Platforms MT4, MT5, WebTrader, Mobile App
Deposits & Withdrawals Free deposits & fees for withdrawals- China UnionPay, crypto payments, cryptocurrency solutions, credit/debit cards, bank wire transfers, Neteller, Skrill, Broker-to-broker
Customer Support 24/7 live chat, phone, email

Pros:

Strong Regulation: FP Markets is regulated by the South African Financial Sector Conduct Authority (FSCA), the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), providing clients with a high degree of confidence and security.

Advanced Trading Platforms: FP Markets offers MetaTrader 4, MetaTrader 5, WebTrader, and Mobile App, which are all top-tier platforms widely recognized in the industry.

Excellent Customer Support: FP Markets offers responsive and helpful 24/7 customer support, accessible via live chat, phone, and email.

Cons:

× Limited Educational Material: While FP Markets provides some educational resources, the breadth and depth of such materials may not match up to some other brokers.


③ Exness

Best Range of Account Types

Exness is a globally recognized online broker specializing in forex trading. It offers a wide range of financial instruments and investment options. It is regulated by reputable international authorities such as the South African Financial Sector Conduct Authority (FSCA), the Financial Conduct Authority (FCA) in the UK, and the Cyprus Securities and Exchange Commission (CySEC). Features of Exness include intuitive trading platforms, competitive spreads, a variety of account types, and responsive customer support.

Exness
⭐⭐⭐⭐⭐
FSCA No. 51024
Regulation FSCA, CYSEC, FCA, FSA
Min. Deposit $10
Market Instruments Currency pairs, Metals, Energies, Stocks, Indices
Demo Account Yes
Max. Leverage 1: unlimited
Spreads & Commissions (Forex) From 0.2 pips & commission-free (Std)
Trading Platforms Exness trading app, Exness Web, MT4, MT5
Deposits & Withdrawals Free - Bank Card, MyPay, OTC, Skrill, Neteller, ChipPay, SticPay
Customer Support 24/7 live chat, phone, email

Pros:

Multiple Trading Accounts: Exness offers multiple trading accounts, catering to different types of traders based on their level of experience or trading strategy.

Low Spreads and High Leverage: Exness is known for competitive spreads and provides high leverage, potentially increasing profitability for successful trades.

Strong Regulation: Exness is regulated by reputable international authorities such as FSCA and FCA, ensuring a high level of protection for traders.

Cons:

× Varied Withdrawal Options: While there are multiple deposit methods, Exness offers fewer options for withdrawal, which might be an inconvenience for some traders.

× Charges on Inactive Accounts: There might be fees associated with account inactivity.


④ HFM

Best for Market Analysis Tools

HFM, which is also known as HotForex, is a globally recognized online Forex and commodities broker. It offers a range of trading services to its clients such as Forex trading, Indices, Shares, Commodities, and Cryptocurrencies. It is regulated by several authorities, including the Financial Conduct Authority (FCA), Dubai Financial Services Authority (DFSA), and the Financial Sector Conduct Authority (FSCA) of South Africa. Its key features include a variety of account types, multiple trading platforms, educational resources, and full-time customer support.

HFM
⭐⭐⭐⭐⭐
FSCA No. 46632
Regulation FSCA, CYSEC, FCA, DFSA, FSA, CNMV
Min. Deposit $0
Market Instruments 1000+ CFDs on Forex, Commodities, Bonds, Metals, Energies, ETFs, Indices, Cryptos, Stocks
Demo Account Yes
Max. Leverage 1:2000
Spreads & Commissions (Forex) From 1.2 pips pips & zero commissions (Cent Account)
Trading Platforms MT4, MT5, HFM App
Deposits & Withdrawals Free for most deposits & withdrawals, Bank transfers (China UnionPay, Wire transfer), credit/debit cards (Visa/MasterCard), crypto, Fasapay, Neteller, PayRedeem, Skrill, Webmoney, bitpay
Customer Support Live chat, phone, email

Pros:

Regulation: HF Markets is regulated by several authorities, including the FCA, DFSA, and FSCA, providing a high level of security for traders.

Versatility: They offer multiple types of trading accounts to cater for different trader preferences and experience levels.

Education: HF Markets provides a range of educational resources like webinars, video tutorials, and articles to help traders continue learning and improving.

Cons:

× Limited US Presence: HF Markets, like many other forex brokers, do not accept clients from the United States.

× Platform Variations: Depending on the type of account you open, you may not have access to all trading platforms offered.


⑤ Plus500

Best for Simplicity and User-Friendly Interface

Plus500 is a reputable online trading platform known for offering a broad array of financial instruments including Forex, commodities, cryptocurrencies, ETFs, options, and shares. It is regulated by several regulatory bodies such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). Some key features include a user-friendly interface, a free demo account, and competitive spreads.

Plus500
⭐⭐⭐⭐⭐
FSCA No. 47546
Regulation FSCA, ASIC, FSA, CYSEC, FCA, FMA, MAS
Min. Deposit $/€/£100
Market Instruments forex, cryptocurrencies, stocks, indices, commodities, and options
Demo Account Yes
Max. Leverage 1:30 (forex)
Spreads & Commissions (Forex) Around 0.6 pips & commission-free
Trading Platforms own proprietary trading platform (desktop, web, and mobile)
Deposits & Withdrawals Visa, MasterCard, PayPal, bank transfers, Apple Pay, Trustly
Customer Support 24/7 live chat, email

Pros:

Regulation- Plus500 is regulated by several recognized authorities, which ensures a secure trading environment.

User-friendly Interface - The trading platform is intuitive and easy-to-use, ideal for beginners as well as experienced traders.

Demo Account- Plus500 offers a demo account where potential clients can test out the platform and their trading strategies without risk.

Cons:

× Limited Educational Resources - Plus500 does not provide as many educational resources compared to other brokers.

× Inactivity Fee- If your account is inactive for a certain period, Plus500 charges a fee.


⑥ FxPro

Best for Advanced Trading Tools

FxPro is an online broker that offers trading in forex and a diverse range of CFDs, including those in Stocks, Futures, Indices, Metals, Energies, and Cryptocurrencies. It was established in 2006 and has its headquarters in London, UK.

FxPro has won several awards over the years and is well known for its excellent execution speed and diverse trading platform options. The broker offers a variety of platforms, including the popular MetaTrader 4, MetaTrader 5, cTrader, and FxPro Trading Platform.

FxPro
⭐⭐⭐⭐
FSCA No. 45052
Regulation FSCA, FCA, CYSEC
Min. Deposit $100
Market Instruments Forex, Stocks, Futures, Indices, Metals, Energies, Cryptocurrencies
Demo Account Yes (free and last for 180 days)
Max. Leverage 1:200
Spreads & Commissions (Forex) From 1.2 pips & commission-free (Std account)
Trading Platforms MT4, MT5, cTrader, FxPro Trading Platform
Deposits & Withdrawals Free deposits & fees for withdrawals - Bank Transfer, Credit/Debit Cards (Visa/MasterCard/Maestro), PayPal, Skrill, Neteller
Customer Support 24/5 live chat, phone, email

Pros:

Strong Regulation: FxPro is regulated by multiple well-respected regulators, including the UK's Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).

Multiple Trading Platforms: They offer several trading platforms to suit different trading styles, including MetaTrader 4, MetaTrader 5, cTrader and FxPro Trading Platform.

Execution Speed: FxPro is known for its fast trade execution speed, a crucial factor in trading.

Cons:

× High Trading Costs: Some traders have noted that the costs of trading with FxPro, including spreads and other fees, are relatively high.

× Lack of Comprehensive Educational Materials: Compared to some other brokers, FxPro's educational resources for beginners are limited.

× Regional Restrictions: FxPro does not offer Contracts for Difference to residents of certain jurisdictions including the USA, Iran and Canada.


⑦ FXTM

Best for Forex Education

FXTM is a globally recognized online Forex and CFD broker. They offer a wide range of trading options in currencies, commodities, indices, and stocks. FXTM is regulated by several reputable financial authorities, such as the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the UK. They provide various account types to cater to the needs of different traders, and they also offer educational resources to help traders broaden their knowledge. The broker supports popular platforms like MetaTrader 4 and MetaTrader 5.

FXTM
⭐⭐⭐⭐
FSCA No. 46614
Regulation FSCA, CYSEC, FCA
Min. Deposit $10
Market Instruments Forex, Commodities, Indices, Shares, Cryptocurrencies
Demo Account Yes
Max. Leverage 1:2000
Spreads & Commissions (Forex) Ultra-low Spread account, Zero-commission account, Micro account
Trading Platforms MT4, MT5
Deposits & Withdrawals Credit/Debit Cards, Bank Wire, E-wallets
Customer Support 24/5 live chat, phone, email

Pros:

Diverse Range of Trading Instruments: FXTM provides access to a variety of markets including Forex, CFDs, stocks, indices, and commodities.

Several Account Types: FXTM offers several account types to cater to different trading needs and styles.

Educational Resources: FXTM provides a wealth of educational materials and tools to help both novice and experienced traders improve their trading skills.

Cons:

× Limited Availability in Certain Countries: Due to regulatory restrictions, FXTM does not offer services in certain countries, including the United States.

× Withdrawal Fees: FXTM charges fees on some types of withdrawals, which could be a drawback for some traders.


⑧ IG

Best for Stock Trading

IG is one of the world's largest online trading and investment providers, offering spread betting and CFD trading across a range of markets, including forex, indices, cryptocurrencies, shares, commodities, ETFs, options, interest rates, bonds, and more. Established in 1974, IG is a well-known, respected, and regulated online broker globally.

Their platform includes innovative trading technology with a focus on speed, stability, and improved accessibility. They offer an array of professional-grade trading platforms including their proprietary platform, called IG Trading Platform, the popular MetaTrader 4, and L2 Dealer for advanced traders looking for direct market access.

IG
⭐⭐⭐⭐
FSCA No. 41393
Regulation FSCA, FCA, ASIC, FSA, NFA, AMF, FMA, MAS, DFSA
Min. Deposit 0
Market Instruments 17,000+, forex, indices, cryptocurrencies, shares, commodities, ETFs, options, interest rates, bonds
Demo Account Yes ($20,000 in virtual capital)
Max. Leverage 1:200
Spreads & Commissions (Forex) Average 1 pip (EUR/USD)
Trading Platforms Online trading platform, Mobile trading app, Progressive web app, ProRealTime, MT4, L2Dealer
Deposits & Withdrawals Credit/debit cards (MasterCard/Visa), bank transfer
Customer Support 24h/day, except from 6 am to 4 pm on Saturday (UTC+8)-live chat, phone, email

Pros:

Well-Established and Regulated: IG is one of the earliest brokers in the industry, and it's regulated by leading authorities like the FCA and ASIC, lending it significant trust and credibility.

Advanced Trading Platforms: IG offers its proprietary platform, the IG Trading Platform, designed for speed and stability, in addition to MetaTrader 4 and L2 Dealer.

Cons:

× High Forex Fees: The average EUR/USD spread is 1 pip, while other brokers offer raw spreads from 0.0 pips.

× Limited Educational Resources: There is very limited info on educational resources, and it is not friendly for beginners.


⑨ FXCM

Best for Customer Service

FXCM is a well-known online broker that specializes in forex and CFD trading. It operates globally and is regulated by top-tier financial authorities like the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). FXCM offers a range of trading platforms including its own Trading Station platform, as well as MetaTrader 4 and FXCM Hub. It also offers a variety of educational resources and tools for both newbies and experienced traders.

FXCM
⭐⭐⭐⭐
FSCA No. 46534
Regulation FSCA, ASIC, FCA, CYSEC
Min. Deposit $50
Market Instruments currency pairs, precious metals, commodities, global stock indices, treasury bonds
Demo Account Yes
Max. Leverage 1:30 (retail)/1:400 (professional)
Spreads & Commissions (Forex) Typical 1.3 pips (EUR/USD)
Trading Platforms MT4, FXCM Hub
Deposits & Withdrawals Online banking payments, bank transfers, etc.
Customer Support 24/5 live chat, phone, email

Pros:

Regulated by Reputable Authorities: FXCM is regulated by top-tier financial authorities, providing traders with a high level of trust and security.

Educational Resources: FXCM provides educational resources and trading tools that cater to both beginner and experienced traders.

Cons:

× No Credit/Debit Card Withdrawals: FXCM does not allow withdrawals to credit or debit cards, which might be inconvenient for some traders.

× Inactivity Fee: FXCM charges an inactivity fee after a year of non-trading.


⑩ IronFX

Best for MetaTrader Platform

IronFX is a global online trading platform specializing in forex trading, CFDs, indices and commodities. It's regulated by top-tier authorities, such as the UK's Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). In addition to offering access to a broad range of financial markets, IronFX also provides robust educational resources and customer service. They support a number of trading platforms, including MetaTrader 4.

IronFX
⭐⭐⭐⭐⭐
FSCA No. 45276
Regulation FSCA, CYSEC, FCA
Min. Deposit N/A
Market Instruments 300+ instruments, including Forex, Metals, Indices, Commodities, Futures and Shares
Demo Account N/A
Max. Leverage 1:30
Spreads & Commissions (Forex) $10 per lot on STP/ECN Zero Spread account for trading EURUSD
Trading Platforms MT4, WebTrader
Deposits & Withdrawals VISA, MasterCard, Maestro, Skrill, Neteller, DotPay
Customer Support 24/5 phone, email

Pros:

Regulated: IronFX is regulated by several major global financial authorities, offering security to its clients.

Variety of Trading Instruments: IronFX offers a wide variety of instruments for clients to trade, such as forex pairs, CFDs, indices, and commodities.

Educational Content: IronFX provides a good selection of educational resources for novice traders as well as professionals to enhance their knowledge.

Cons:

× No Availability for US Clients: Unfortunately, like many online brokers, IronFX does not offer its services to clients from the United States.

× Inactivity Fees: Inactivity fees apply to dormant accounts, which could be costly for the account holder.


FSCA Regulated Forex Brokers FAQs

What is FSCA (FSB)?

The FSCA, which stands for the Financial Sector Conduct Authority, is a tier-2 market conduct regulator of financial institutions, including banks, that provide financial products and financial services, financial institutions that are licensed in terms of financial sector law, including insurers and retirement funds, and market infrastructures.

The FSCA is based in South Africa. Previously, it was known as the Financial Services Board (FSB), but its name changed when it was assigned new responsibilities by the Financial Sector Regulation Act 2017. 

FSCA


How does FSCA Work?

The FSCA's primary function is to promote and enforce compliance with the financial sector laws in South Africa. The responsibilities of the FSCA also extend to supervising how these financial institutions conduct their business, ensuring that they adhere to the legal requirements and meet the standards of properly treating their customers.

The FSCA uses various models and tools to carry out its supervisory work. It performs regular monitoring and runs investigations when any conduct by a financial institution seems suspicious or when any reports of non-compliance are received. The authority has the power to take enforcement actions or impose penalties on institutions that violate the financial sector laws. It also provides financial education to ensure that the customers understand their rights and are able to make informed decisions.


What does FSCA-regulated Mean for Forex Traders?

FSCA-regulated means that a Forex broker is authorized and supervised by the Financial Sector Conduct Authority (FSCA) of South Africa. This ensures that the broker is obligated to adhere to strict regulatory guidelines set forth by the FSCA, such as maintaining sufficient capital, regular auditing, transparency in trading conditions, and measures to prevent fraudulent activities. Such regulation can provide traders with greater confidence in the broker's authenticity and the safeguarding of their investments.


What are FSCA Requirements for Forex Brokers?

The Financial Sector Conduct Authority (FSCA) of South Africa enforces a number of requirements that Forex brokers must satisfy to attain and maintain their license. These include:

License Application

Brokers must apply for a license and satisfy all necessary criteria demonstrating their suitability to provide financial services.

Minimum Capital Requirement

Brokers are required to hold a specific amount of capital to guard against insolvency and to protect their clients' investments.

Segregation of Clients' Funds

FSCA requires brokers to keep clients' funds in separate accounts from their company's own funds to ensure that clients' money are not used for the broker's operating expenses.

Record Keeping

Proper record-keeping is mandatory under FSCA regulations. This includes tracking all transactions, maintaining financial records appropriately, and making periodic reports to the FSCA.

Compliance Plan

Brokers ought to have an appropriate compliance plan in place, and a committed compliance officer, to ensure they adhere to all FSCA regulations.

Auditing

Regular audits by independent and authorized auditors are necessary to ensure ongoing compliance with FSCA regulations.

Ethical Marketing

Advertisements and promotional materials need to be fair and not misleading or deceptive and need to adhere to FSCA rules.

Dispute Resolution

FSCA requires brokers to have a dispute resolution system in place, usually involving an approved external dispute resolution scheme.

Training Standards

In order to ensure competency, certain training standards need to be met by employees of the Forex broker.

These conditions are intended to ensure that the broker operates with transparency, integrity, and prioritizes their clients' interests.


How is FSCA Compared to Other Forex Regulators?

Feature Detail
Rigorous Regulation Like well-known bodies such as the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC), the FSCA enforces stringent rules and compliance standards.
Protection of Investors Similar to other respected regulators, the FSCA mandates that Forex brokers maintain segregated accounts. This ensures a separation between the client's funds and the brokers' operational assets.
Scope of Influence Though the FSCA mainly oversees the South African market, Forex brokers regulated by the FSCA can also cater to traders globally unless specific local laws restrict it. This international reach is shared with other global Forex regulators, such as ASIC and the Cyprus Securities and Exchange Commission (CySEC).
Focus on Education Like the U.S Commodity Futures Trading Commission (CFTC), the FSCA places substantial emphasis on educating traders about the forex market, its associated risks, and the rights and responsibilities of investors.


Why Trade with FSCA Regulated Forex Brokers?

Trading with FSCA regulated Forex brokers offers several advantages:

Customer Protection

FSCA regulated brokers are required to follow strict regulatory standards, which ensures a high level of protection for you as a trader.

Transparent Trading

FSCA enforces stringent transparency requirements on brokers ensuring there is open communication between brokers and their clients about the risks, costs, and processes associated with trading.

Accountability

You have a regulatory body to turn to if you believe a broker has acted unfairly or unethically.

Segregated Accounts

FSCA rules require that brokers keep client funds in segregated accounts. This means that even if the broker goes bankrupt, your funds are protected.

Fair Trading

FSCA regulates the trading practices of brokers to ensure that you are treated fairly when trading.


How to Check If a Forex Broker is Regulated by FSCA?

To verify if a Forex broker is regulated by the FSCA, follow these steps:

First, find the broker's FSCA (FSP) number. This number is typically listed on the broker's official website. It's usually in the 'About Us', 'Legal', or similar sections of the broker's website.

For a more straightforward approach, you can use WikiFX. Visit wikifx.com, type in the name of the broker in the search bar as shown in the screenshot below, and press enter.


search regulation with WikiFX


In the broker's WikiFX page, look for the “Licenses” section on the left, locate the FSCA license, and click on it. Here, you can find the complete FSCA license including the FSCA license number! This method will help you conveniently verify your broker's FSCA regulation status.


find FSCA license


Once you have the FSCA (FSP) number, visit the FSCA's public search portal. Enter the broker's FSCA (FSP) number in the search field provided.


FSCA's public search portal


Click on 'Submit'. The results will display the broker's details such as their regulatory status and their permissions, if they are regulated by the FSCA.


How to Choose a FSCA Regulated Forex Broker?

Choosing an FSCA regulated Forex broker involves considering several factors. Here are some tips:

Regulation and Safety of Funds

Ensure the broker is indeed regulated by FSCA. You can verify this by searching the broker's name on the FSCA's online regulatory portal or find it on WikiFX.

Account Types

Look for a broker that offers a variety of account types. This gives you more flexibility in choosing an account that fits your trading style and risk tolerance.

Trading Costs

Consider the costs involved in trading such as spreads, commissions, and any other fees.

Trading Platform

Choose a broker that offers a reliable and user-friendly trading platform that suits your trading preferences.

Deposit and Withdrawal

Examine the broker's deposit and withdrawal processes to ensure they are smooth, with minimal fees.

Customer Service

Good customer service is important for handling any issues or questions you may have. Ideally, they should be easily reachable, responsive, and helpful.

Reviews and Reputation

Read reviews from other traders about their experiences with the broker. This can give you helpful insights into the broker's reliability and the quality of their services.


Forex Risk Claimer

Trading Forex (foreign exchange) carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, risk appetite, and the possibility of incurring losses. There is a possibility that you may sustain a loss of some or all of your initial investment and therefore you should not invest money that you can not afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.


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