Financial Sector Conduct Authority (South Africa). 30 of the 139 brokers in our researched set (22%) currently hold a licence from this regulator, computed live from the same dataset behind every review and ranking on this site.
| Jurisdiction | South Africa -- licenses firms as Financial Services Providers (FSPs), typically authorised as Over-the-Counter Derivative Providers (ODPs) for this industry |
|---|---|
| Leverage rules | No confirmed leverage cap found in FSCA public guidance -- its Joint Standard 2 of 2020 covers margin for non-centrally-cleared OTC derivatives, a different mechanism from a retail leverage ceiling. FSCA-regulated brokers commonly advertise leverage up to 1:500 or higher. |
| Investor compensation | No statutory compensation scheme. |
| Complaint process | A client disputes an FSCA-licensed FSP directly with the firm first; if unresolved, the FAIS Ombud -- an independent, free dispute-resolution body -- can investigate and issue a determination, which can be sent back for reconsideration via the Financial Services Tribunal. For complaints received on or after 1 July 2024, the Ombud can award up to R3.5 million in compensation (up from an R800,000 cap that applied to older complaints). |
| Official register | Search the FSCA's FSP register (search by name or FSP number) → |
See our full FSCA regulation guide for what this licence does and doesn't guarantee. See our ranked best FSCA-regulated brokers list.
We track that each broker below discloses a FSCA licence, but not the specific licence number or which legal entity holds it -- that detail isn't consistently available in our research for this regulator. See the broker's own review for whatever entity/licence detail it discloses directly.