To verify a broker, find the exact legal entity that serves South Africa on the broker's site, then search its FSP number on the FSCA register at fsca.co.za. Confirm the entity is currently authorised and that the authorisation covers what you need — including an ODP licence if you want CFDs written onshore. Watch for clone firms and lapsed licences.
Step 1 — Find the exact entity that serves South Africa
Open the broker's website and go to the footer, the legal or regulation page, or the client agreement. You are looking for the precise legal entity name (often ending in (Pty) Ltd, Ltd or Limited) that contracts with South African clients, plus its FSCA FSP number if shown. Brokers commonly route different regions to different entities, so the name shown to a UK or Australian visitor may not be the one that opens your South African account.
Note both the entity name and the FSP number — you will need them to search the register. If the site is vague about which entity serves South Africa, or only reveals it after you start opening an account, treat that as a warning sign in itself. The entity that signs your client agreement is the one whose authorisation actually matters to you.
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Confirm three things on the register: the entity is listed and currently authorised (not lapsed, suspended or withdrawn); the authorisation covers the relevant financial-services activity; and the details on the register correspond to the broker you are actually dealing with.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, Scope Markets SA (ODP64) and IG South Africa; brokers such as XM and Tickmill are FSCA-licensed but, on current information, have no confirmed own ODP, so their CFD execution runs offshore.
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, Scope Markets SA and IG South Africa.
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 EU-based publisher comparing FSCA-regulated forex and CFD brokers for South African traders. Our editorial desk verifies every licence on the FSCA register and never accepts payment for a better review. We compare and inform; we do not give financial advice.