Checking a broker in the local register
1 check that takes 5 minutes: R5,000 at risk
| Step | Amount | Note |
|---|---|---|
| Deposit you are considering | R5,000 | The amount you would send by EFT, instant EFT or bank card. |
| USD/ZAR price used | 18.4100 | A round number for the example; the live price moves. |
| Firm name you type | Example Markets (Pty) Ltd | Use the legal name from the broker's website footer, not the brand name. |
| Licence number you type | 12345 | The number the broker displays; if there is no number, that is an answer. |
| What the register shows | Licensed for advice, not for CFD dealing | The register lists categories; read them, do not assume. |
| Date you checked | 2026-01-15 | Write the date down; registers change. |
The broker may round prices, charge spreads, commissions or overnight fees on top. The register does not show those costs. If the register shows a licence for a different company or a different activity, the licence does not cover what you were offered.
The mistake people make here
The common mistake is to see the word 'FSCA' on a website and stop there. A licence number can belong to a different company, or cover a different activity from the one you were offered. Instead, open the FSCA register yourself, type the legal name and the licence number, and read the categories listed. Write down the date you checked, because a licence can be removed later.Check yourself
You plan to deposit R5,000 and the register shows the firm is licensed only for advice, not for CFD dealing. What does that mean for your R5,000?
It means the licence does not cover the CFD product you were offered. The R5,000 would be sent to a firm whose permission does not match the service, so the protection you expect may not apply.
The register shows a licence number but the company name is different from the brand you are using. What should you do?
Do not deposit. A different legal name means the licence may belong to another entity. Ask the broker for the legal name and licence number in writing, then check that exact name in the register.
You check on 2026-01-15 and the register shows the firm is licensed. You deposit on 2026-06-01. Is the January check still enough?
No. Registers change. Check again on the day you deposit and write down the new date, because a licence can be removed or restricted between the two dates.
In South Africa
- Regulator
- FSCA (Financial Sector Conduct Authority)
- Where to check
- The FSCA website has a searchable register of licensed financial services providers.
- What to type
- The firm's legal name or its FSP licence number.
- What to read
- The licence categories listed for that firm; they show which activities are covered.
- Payment methods
- EFT, instant EFT and bank cards are common; the register does not confirm which methods a firm may use.