The Financial Sector Conduct Authority (FSCA) is South Africa’s market-conduct regulator, established in 2018 to replace the former Financial Services Board. It licenses and supervises the firms — including many forex and CFD brokers — that operate as Financial Services Providers (FSPs).
What FSCA regulation means for traders
- FSP licensing: firms must be authorised as an FSP, each with a unique FSP number, to give financial advice or intermediary services.
- ODP requirement: brokers dealing in derivatives are expected to hold an Over-the-Counter Derivative Provider (ODP) licence.
- Fair conduct: the FSCA applies “treating customers fairly” principles covering disclosure, advertising and complaints.
- Supervision: authorised firms are monitored and can face enforcement for breaches.
How to verify an FSCA broker
Search the FSCA’s online register by company name or FSP number to confirm authorisation and see the categories a firm is licensed for. Note that many global brokers hold an FSCA licence for their South African entity while operating other regions under different regulators.
In short
The FSCA gives South African clients meaningful conduct protection and a searchable public register, placing it as a solid mid-tier regulator. It does not run a statutory compensation fund for forex losses. Compare regulated brokers in our broker reviews.