Updated — September 2026
Best FSCA broker 2026: who actually uses the South African licence
Quick answer
As of September 2026, the best FSCA-first broker is RaiseFX (licence 50506): 1:500 leverage, spreads from 0.0, $0 commission, MT5. AvaTrade and Vantage also hold FSCA, but it is not their core product — you often sign CBI/ASIC/FCA. If you want FSCA for leverage, check the account entity, not the website footer.
Brokers with an FSCA licence (2026)
01
RaiseFX
FSCA 50506 · Johannesburg
Our FSCA pickFSCA entity
Licence
50506
Leverage
1:500
Commission
$0
Platform
MT5
FSCA is not logo #7. It is the account authority. Same regulator family as RaiseMyFunds. For a French trader who accepts non-ESMA: the readable file.
02
AvaTrade
FSCA among CBI, ASIC, FSA…
FSCA + others
FSCA
Yes, multi
Leverage
Entity-dependent
Spreads
~0.9 pip
Min
$100
FSCA sits in the bouquet. Many clients are not on the South African entity. Wider spreads.
03
Vantage Markets
FSCA + ASIC/FCA/CMA
Multi including FSCA
FSCA
Yes, multi
RAW
0.0 + commission
Leverage
1:500*
CMA UAE
Introducer
FSCA on the list, RAW product aimed at ASIC. Fine as multi-regulated, not as « FSCA-first ».
Comparison table
| Criteria | RaiseFX | AvaTrade | Vantage |
|---|---|---|---|
| FSCA = account entity? | Yes, core product | One licence of many | One licence of many |
| Typical FSCA leverage | 1:500 | Entity-dependent | Entity-dependent |
| Commission | $0 | Spread | RAW + commission |
| HQ story | Johannesburg | Dublin / multi | Sydney / multi |
How we decide
01
Entity, not footer
A page listing FSCA+FCA+ASIC often means three companies. RaiseFX is one FSCA story.
02
Leverage
You pick FSCA for 1:500. If you signed CySEC, you have 1:30 and a logo.
03
Cost
FSCA + 1.0 pip is pointless vs FSCA + 0.0 with no commission.
04
Group coherence
Same regulator as RaiseMyFunds. Not a guarantee — readability.
Verdict
Our verdict
The only FSCA-first broker on this site: RaiseFX
The others wear the licence in a pack. RaiseFX makes it the product. See FSCA explained.
Open RaiseFX →FAQ
RaiseFX, FSCA licence 50506, 1:500, $0 commission, MT5. AvaTrade and Vantage also hold FSCA but it is usually not the EU retail entity.
AvaTrade holds several licences including FSCA. Check which one applies to YOUR contract. That is not the same as RaiseFX, whose core is FSCA.
Yes, unlike the ESMA 1:30 retail forex cap. That is the point of this page. For a French resident: legal outside the AMF net, foreign account still reportable.
FSCA register, number 50506. Do not trust a website badge.