One of the best FSCA regulated forex brokers compatible with DupliTrade Leverage is offered in every market. The best MT5 currency broker. Foreign exchange trading is popular and licensed in South Africa, and is regulated by the FSCA (Financial Sector Conduct Authority). The broker offers a simple interface, copy trading tools, and the minimum trading requirement is just 0.01 pips.
The broker is also a member of the Australian Financial Complaints Authority (AFCA), the governing body that sets the industry standard for resolving disputes between consumers and financial service providers, and conducts regular audits. The FSCA's role is to ensure that all companies offering financial services in South Africa hold an active FSP (financial services provider) license and that they comply with the terms of the Financial Advisory and Intermediation Services Act (FAIS). Finally, it also requires Forex brokers to be honest about their services and products with their clients and to treat them fairly. Every brokerage agency that claims to be the best for new Forex traders must have some essential features and functions, such as ease of use, educational material, easy-to-understand research and analysis tools, and so on.
When trading on Forex, the total cost of trading is the spread of the currency pair you are trading with plus any commission your broker may charge. Deciding which forex broker is the best in South Africa can be a cumbersome process, especially since there are dozens of active platforms in this market. Other than that, consider purchasing the brokerage agency's demo account to test its services and features before trading with real money. While international brokers accept clients from most countries, trading conditions and regulatory oversight may be different for South African traders.
We judge the quality of each broker's trading platform and verify its regulation to ensure the safety of traders. The costs involved are relatively low compared to other markets, there are many brokers to choose from in South Africa and it's relatively easy to understand the ways in which you can trade in the market.