Part of the LSE-listed IG Group, IG Markets South Africa Ltd was established locally in 2010. However, IG's FSCA FSP 41393 is lapsed and IG is exiting onshore South Africa — new clients are onboarded via offshore/international entities, so local FSCA protections do not apply. It supports the IG Platform, MT4, ProRealTime and L2 Dealer. Trading CFDs is high-risk.
IG's FSCA FSP 41393 is lapsed and IG is exiting onshore South Africa. New clients are onboarded via offshore/international entities; local FSCA protections (dispute resolution, onshore oversight) do not apply. Verify current onboarding and entity before relying on any South Africa-specific licence claim.
FSCA regulation & safety of funds
IG Markets South Africa Ltd holds FSP 41393 with the FSCA, but that FSP is lapsed and IG is exiting the onshore South African market. IG is part of the long-established, LSE-listed IG Group with FCA authorisation in the United Kingdom — a credible global group — but as a South African broker it no longer operates on an active FSCA licence. New South African clients are onboarded via offshore/international entities rather than through the FSCA-supervised SA entity.
This is the critical disclosure: the protections you actually receive flow from the specific entity that holds your account, and for a new IG client in South Africa that entity is offshore. Search FSP 41393 on the FSCA's public FSP register and confirm the current status of IG Markets South Africa Ltd — a lapsed authorisation means the FSCA's onshore framework does not cover your account. Before you deposit, identify which offshore IG entity would open your account and verify it on that entity's own regulator's register.
IG's lapsed FSP and exit from onshore South Africa
IG's FSCA FSP 41393 is lapsed and IG is exiting the onshore South African market. This means the onshore regulatory credentials — the FSP, and any prior ODP licence that IG was reported to have obtained after an initial refusal and appeal — are no longer an operative basis for a new client. We do not present IG as holding an active FSCA ODP. The ODP framework requires an active, current authorisation; a lapsed FSP removes the onshore regulatory footing.
The practical consequence: a South African trader who opens an IG account today is opening an account with an offshore IG entity, under an offshore regulatory framework. That entity may be well-regulated by its own offshore standards — IG Group's FCA authorisation is genuine and serious — but it is not the FSCA. South African recourse routes (FSCA dispute resolution, any local compensation arrangements) do not apply to an offshore-entity account.
ZAR support & funding
IG closed its onshore Rand-denominated South African accounts in 2026 and now onboards new clients via offshore entities. A new South African client will fund in a foreign base currency — confirm the current base currencies and funding methods on IG's own site. SARB exchange-control rules apply: residents have a Single Discretionary Allowance of up to R1 million per calendar year (no tax-clearance PIN) and a Foreign Capital Allowance of up to R10 million (SARS approval required), and may not speculate against the Rand.
Because the account is offshore, the offshore-funding allowances are directly relevant from the first deposit. We do not quote IG's fees or processing times we have not verified — check them on the IG funding page, and withdraw only to an account in your own name.
Platforms
IG Group offers a broad platform line-up: its proprietary IG Platform, MetaTrader 4 (MT4), ProRealTime and L2 Dealer. The IG Platform is a well-regarded, feature-rich web and mobile environment; MT4 covers traders who rely on Expert Advisors; ProRealTime suits advanced charting; and L2 Dealer is a direct-market-access platform for more sophisticated traders.
Confirm which platforms are available for the specific offshore IG entity serving you, since availability can differ by entity. Test on a demo before committing real funds.
Who it suits / who it doesn't
IG suits traders who specifically want access to IG Group's platform breadth — IG Platform, ProRealTime, L2 Dealer — and who are comfortable operating under an offshore regulatory framework (most likely FCA). For a trader who values institutional heritage and platform depth and is not relying on FSCA protection, IG Group remains a credible global option.
It is a poor fit for any South African trader whose priority is local FSCA protection, onshore oversight, or a ZAR-denominated account — none of those apply to a new account with IG. As with every CFD broker, it is unsuitable for anyone who cannot absorb the high risk of loss. We compare and report; we do not advise.
How to verify before you deposit
First, check FSP 41393 on the FSCA's public FSP register and confirm the current status — if lapsed, there is no active onshore FSCA authorisation. Second, identify which offshore IG entity would open your account (named in the client agreement and site footer) and verify that entity on its own regulator's register.
Third, confirm the current onboarding route, base currencies and funding terms on IG's own site. Do not assume FSCA protection applies. If onshore FSCA protection is a priority for you, choose a confirmed, active FSCA-licensed broker instead. If any point cannot be verified, treat it as a reason to wait.
Pros & cons
Pros
- Part of the long-established, LSE-listed IG Group; FCA-authorised globally.
- Broad, professional-leaning platforms: IG Platform, MT4, ProRealTime and L2 Dealer.
- Well-regarded globally for institutional-grade platform depth and market access.
Cons
- FSCA FSP 41393 is lapsed — IG is exiting onshore South Africa; FSCA protections do not apply to new accounts.
- New South African clients are onboarded via offshore entities; no onshore ZAR accounts.
- No active FSCA ODP — the prior ODP claim is no longer operative for new clients.
- Spreads and minimum deposit are not published here — check them on IG's own site.
Frequently asked questions
Is IG South Africa still FSCA-regulated?
IG's FSCA FSP 41393 (IG Markets South Africa Ltd) is lapsed and IG is exiting onshore South Africa. New South African clients are onboarded via offshore/international entities — FSCA protections do not apply. Check FSP 41393 on the FSCA register to confirm current status. Trading CFDs is high-risk.
Does IG South Africa hold an FSCA ODP licence?
IG was previously reported to have obtained an FSCA ODP licence after an initial refusal and appeal. With the FSCA FSP 41393 lapsed and IG exiting onshore South Africa, that prior ODP authorisation is no longer an operative credential for new South African clients. We do not present IG as holding an active FSCA ODP.
Does IG South Africa offer ZAR accounts?
No — IG closed its onshore Rand-denominated South African accounts and is no longer operating as an active onshore FSCA-licensed broker for new retail clients. New accounts are via offshore entities. Confirm the current base currencies and funding methods directly with IG before depositing.
What platforms does IG offer South African traders?
IG Group offers the IG Platform, MetaTrader 4, ProRealTime and L2 Dealer — a broad, professional line-up. Since new SA clients are onboarded offshore, confirm which platforms are available for your specific entity. Test on a demo before funding.
Is IG safe to use from South Africa?
IG Group is long-established and FCA-authorised globally. However, for a new South African client, IG's FSCA FSP is lapsed and onboarding is offshore — FSCA protections do not apply. Verify the offshore entity on its own regulator's register. Trading carries a high risk of loss.