South Africa has its own FSCA FSP register. The verification drill is simple: pull the exact legal entity that the broker uses for South African clients — it is in the client agreement, not the marketing page — and run that entity name or FSP number on the FSCA's own search at fsca.co.za. Status must be 'authorised', not lapsed. If onshore CFD writing matters to you, also check for an ODP licence.
Step 1 — Find the exact entity that serves South Africa
Do not rely on the brand name. Broker groups operate through multiple legal entities across different jurisdictions, and the entity the UK or Australian site displays is often not the one that will open your South African account. Go to the broker's South African legal or regulatory disclosure page — typically the footer, a dedicated licences page, or the client agreement — and note the precise legal entity name (in South Africa, usually ending in (Pty) Ltd) together with the FSCA FSP number.
These two items — entity name and FSP number — are what you take to the register. Vagueness here is itself a red flag: a legitimate FSCA-licensed broker knows exactly which entity holds which account, and that information should not require you to begin an account-opening process before it is disclosed.
Step 2 — Search the FSP number on the FSCA register
Go directly to the FSCA's official website, fsca.co.za, by typing the address yourself — never via a link from an advert or a third-party blog — and use the FSP register search. Enter the FSP number (or the exact entity name) and confirm the broker's South African entity is listed. A near-match on the name is not a match: the entity, not just the brand, has to line up.
Confirm three things on the register: the entity is listed and currently authorised (not lapsed, suspended or withdrawn); the authorisation covers the relevant financial-services activity; and the details on the register correspond to the broker you are actually dealing with. The live FSCA register is a search form on the regulator's own site — take the extra minute to query it directly rather than trusting a number quoted elsewhere (including any quoted on a comparison site).
- FSCA FSP register — fsca.co.za, the regulator's official site.
- Search by FSP number or exact legal entity name.
- Confirm: listed, currently authorised, and covering the right activity.
- Check the register details correspond to the broker you are dealing with.
Step 3 — Confirm an ODP licence if you want onshore CFDs
If you specifically want your CFDs written onshore as principal, an FSP licence alone is not enough — you also need to confirm the entity holds an FSCA ODP (OTC Derivative Provider) authorisation. On RandBroker's shortlist the own-ODP names are Exness and Scope Markets SA (ODP64); brokers such as XM and Tickmill are FSCA-licensed but have no confirmed own ODP, so their CFD execution runs offshore. Note: IG South Africa (FSP 41393) is in our caveat tier — its FSCA FSP is lapsed and IG is exiting onshore South Africa.
Because ODP claims are easy to overstate, verify them rather than taking them at face value. Several brokers' ODP status is unconfirmed or conflicting in secondary sources, and RandBroker keeps any unconfirmed ODP marked as such pending a live-register confirmation. If onshore principal protection matters to you, confirm the ODP authorisation specifically — an FSP licence does not imply it.
Step 4 — Spot clone firms and lapsed licences
A common scam is the clone firm: fraudsters copy the name, FSP number and address of a genuinely authorised broker and stand up a near-identical website to look regulated. Always cross-check the contact details and the website domain against what the FSCA register shows — if the phone number, email domain or address differs from the register, you may be dealing with a clone, not the licensed firm. When in doubt, contact the FSCA through the details on its own site, not details supplied by the broker.
Equally, a licence that once existed may now be lapsed, suspended or withdrawn — the register shows current status. A broker quoting an FSP number that the register marks inactive is not currently protecting you under that licence. RandBroker's licence facts are corroborated from broker disclosure plus credible secondary sources and remain pending a final live-register confirmation, which is exactly why we tell every reader to do this 30-second register check themselves before depositing.
Frequently asked questions
How do I check if a forex broker is FSCA-regulated?
Find the exact legal entity that serves South Africa on the broker's site (footer, legal page or client agreement), then search its FSP number on the FSCA register at fsca.co.za. Confirm the entity is listed, currently authorised, and covers the relevant activity — and that the register details match the broker you are dealing with.
Where is the official FSCA register?
The FSCA publishes its FSP register on its official website, fsca.co.za. Reach it by typing the address yourself rather than following a link from an advert, and search by FSP number or exact legal entity name. Always verify there directly rather than trusting a number quoted on a third-party site.
How do I confirm a broker has an ODP licence?
An FSP licence alone does not authorise writing CFDs onshore as principal — that needs an FSCA ODP authorisation. Confirm the ODP specifically, because such claims are easy to overstate and several brokers' ODP status is unconfirmed in secondary sources. On current information the own-ODP names include Exness and Scope Markets SA. Note: IG South Africa's FSCA FSP is lapsed and it is no longer an active onshore broker.
What is a clone firm?
A clone firm is a scam that copies the name, FSP number and address of a genuinely authorised broker to appear regulated. Cross-check the contact details and website domain against what the FSCA register shows — if they differ, you may be dealing with a clone. Contact the FSCA via details on its own site if in doubt.
How do I know if a broker's licence is still valid?
The FSCA register shows each entity's current status. A licence that once existed may now be lapsed, suspended or withdrawn, so a broker quoting an FSP number the register marks inactive is not currently protecting you under it. Always check the live status on fsca.co.za before depositing.
Sources & further reading
RandBroker is an independent editorial desk built around South Africa's specific regulatory reality: FSCA FSP categories, ODP status, SARB exchange control limits and SARS tax treatment of forex gains. We verify every licence on the FSCA Financial Service Provider register and distinguish between FSP authorisation and ODP status — because most overseas broker reviews do not. No payment is accepted for coverage.