10 Best FSCA Regulated Forex Brokers 2025

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, indices, commodities, crypto CFD, stocks, ETFs, bonds, and FX options.

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 AvaTrade Mobile App and Mobile WebTrader, 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.

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FSCA No.	45984
Regulation	FSCA, ASIC, FSA, FFAJ, ADGM, CBI
Min. Deposit	$100
Market Instruments	Forex, indices, commodities, crypto CFD, stocks, ETFs, bonds, FX options
Demo Account	✅ ($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	AvaTrade Mobile App, Mobile WebTrader, AvaSocial, AvaOptions, DupliTrade, MT4/5
Payment Methods	MasterCard, Visa, PayPal, Skrill, Neteller, Wire Transfer, Perfect Money, Boleto
Customer Support	Live chat

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 AvaTrade Mobile App and Mobile WebTrader, 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, indices, commodities, crypto CFD, stocks, ETFs, bonds, and FX options.

Cons:

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

× Inactivity Fee: After 3 consecutive months of non-use (“Inactivity Period”), and every successive Inactivity Period, an inactivity fee will be deducted from the value of the Customers trading account. This fee is outlined below and subject to client relevant currency based account:

• USD Account: $50

• EUR Account: €50

• GBP Account: £50

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.

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FSCA No.	51024
Regulation	FSCA, CYSEC, FCA, FSA (Offshore)
Min. Deposit	$10
Market Instruments	Currency pairs, Metals, Energies, Stocks, Indices
Demo Account	✅
Max. Leverage	1: ∞
Spreads & Commissions (Forex)	From 0.2 pips & commission-free (Standard account)
Trading Platforms	MT4/5, Exness Terminal, Exness Trade app
Payment Methods	Bank Card, MyPay, OTC, Skrill, Neteller, ChipPay, SticPay
Customer Support	24/7 live chat

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:

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

XM - Best for Copy Trading

XM is a Forex and CFD broker based in Cyprus and regulated by several internationally renowned financial authorities, including ASIC (Australia), CySEC (Cyprus), DFSA (UAE), FSCA (South Africa), and FSC (Belize). It offers 1,400 tradable instruments such as forex, commodities, precious metals, shares, Turbo stocks, equity indices, energies, and thematic indices. Clients can invest in global markets through its advanced trading platforms, including MT5, MT4, and XM app.

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FSCA No.	49976
Regulation	FSCA, ASIC, CySEC, DFSA, FSC (Offshore)
Min. Deposit	$5
Market Instruments	1,400+, forex, commodities, precious metals, shares, Turbo stocks, equity indices, energies, thematic indices
Demo Account	✅ (30 days)
Max. Leverage	1:1000
Spreads & Commissions (Forex)	From 1.6 pips + commission-free (Standard account)
Trading Platforms	MT4/5, XM App
Payment Methods	Credit/debit cards, bank transfers, e-wallets
Withdrawal Fee	❌
Customer Support	Live chat, phone

Pros:

√ Regulated well: XM is regulated by several major global financial authorities - ASIC, CySEC, DFSA, FSCA, and FSC (Offshore), offering security to its clients.

√ Variety of Trading Instruments: IronFX offers 1,400+ tradable instruments, including forex, commodities, precious metals, shares, Turbo stocks, equity indices, energies, and thematic indices.

√ Industry-leading Trading Platforms: Both MT4 and MT5 are available on XM.

Cons:

× Regional Restrictions: Clients from the United States of America, Canada, Argentina, Israel and the Islamic Republic of Iran are not allowed.

Tickmill - Best for MetaTrader Platform

Tickmill, the trading name of Tickmill Group of companies, is a regulated global forex and CFD brokerage company established in 2014, headquartered in London, UK. Tickmill offers trading in 60+ currency pairs, 15+ indices, 500 stocks & ETFs, bonds, commodities (precious metals and energies), cryptos, and futures & options with three choices of trading accounts - Classic, Raw, and Tickmill Trader Raw accounts. Trading platforms include popular MetaTrader4/5 and its proprietary Tickmill Trader.

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FSCA No.	49464
Regulation	FSCA, FCA, CySEC
Min. Deposit	100 USD/EUR/GBP/ZAR
Market Instruments	60+ currency pairs, 15+ indices, 500 stocks & ETFs, bonds, commodities (precious metals and energies), cryptos, futures & options
Demo Account	✅
Max. Leverage	1:1000
Spreads & Commissions (Forex)	From 1.6 pips + commission-free (Classic account)
Trading Platforms	MT4/5 (Windows, MacOS, Android, iOS, WebTrader), Tickmill Trader (Android, iOS)
Payment Methods	Bank transfer, crypto payments, Visa, MasterCard, Skrill, Neteller, Sticpay, Fasapay, UnionPay, WebMoney
Deposit & Withdrawal Fees	❌
Customer Support	Live chat, contact form, phone

Pros:

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

√ Popular Trading Platforms: Both MT4 and MT5 are available on Windows, MacOS, Android, iOS, and WebTrader devices.

√ No Deposit & Withdrawal Fee: FXCM supports multiple payment options and all deposits and withdrawals are free of charge.

Cons:

× No 24/7 Customer Support: The customer service is only available from Monday to Friday 7:00 - 16:00 GMT during Daylight Saving Time.

× Regional Restrictions: US clients are not accepted.

Vantage - Best for Forex Education

Incorporated in Australia in 2009, Vantage now has more than 15 years of experience. As a CFD trader, with a strong regulatory framework including FSCA (General Registration), ASIC, FCA, and CIMA/VFSC (Offshore), it offers traders 1,000+ CFDs on forex, indices, precious metals, soft commodities, energy, ETFs, share CFDs, and bonds on Vantage App, MT4/5, and roTrader platforms.

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FSCA No.	51268
Regulation	FSCA (General Registration), ASIC, FCA, CIMA/VFSC (Offshore)
Min. Deposit	$50
Market Instruments	1,000+ CFDs on forex, indices, precious metals, soft commodities, energy, ETFs, share CFDs, bonds
Demo Account	✅ ($100,000 virtual credit)
Max. Leverage	1:1000
Spreads & Commissions (Forex)	From 1.1 pips & commission-free (Standard account)
Trading Platforms	Vantage App, MT4/5, ProTrader
Payment Methods	Visa, MasterCard, Apple Pay, Google Pay, PayPal, Neteller, Skrill, Fasapay, Perfect Money, JCB, bitwallet, Sticpay, India UPI, Bank Transfer, International ETF, Astropay, Broker-to-Broker Transfer
Deposit Fee	Free for most methods
Customer Support	24/7 live chat, contact form, email, Help Center

Pros:

√ Diverse Range of Trading Instruments: FXTM provides access to 1,000+ CFDs on forex, indices, precious metals, soft commodities, energy, ETFs, share CFDs, and bonds.

√ Several Account Types: FXTM offers several account types (Pro ECN, Raw ECN, Standard, Cent, Premium, Swap free) 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 Canada, China, Romania, Singapore, the United States and jurisdictions on the FATF and EU/UN sanctions lists.

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. 

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.

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.

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.

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.

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.

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.

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.

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.

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.