In this blog, we will discuss the topic “Is Exness regulated in South Africa?“. If you are a forex trader from South Africa, it is worth it to learn about this amazing forex broker – Exness.
First of all, Exness is an international brokerage company that is headquartered in Cyprus. The company is regulated by the Cyprus Securities and Exchange Commission (CySEC). Exness has a subsidiary in South Africa that is authorized and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa.
Exness offers a variety of trading instruments including forex, metals, indices, energies, and cryptocurrencies. The company provides its clients with the ability to trade on the MetaTrader 4 and MetaTrader 5 platforms.
Exness also offers a mobile trading app for Android and iOS devices. South African clients can deposit funds into their trading accounts using various payment methods including bank wire transfers, credit/debit cards, and e-wallets such as Skrill and Neteller.
The minimum deposit amount is $10. Exness provides 24/5 customer support to its clients via live chat, email, and telephone. The company also has an extensive FAQ section on its website.
Overall, Exness is a reliable broker that is regulated by a reputable financial regulator. The broker offers a wide range of tradable instruments and provides its clients with a user-friendly trading platform. South African clients can deposit and withdraw funds using a variety of methods.
Exness Regulated Licenses
Exness is licensed by various international governing bodies and has different group licenses.
Financial Sector Conduct Authority (FSCA): In South Africa, Exness ZA (PTY) Ltd is a Financial Services Provider (FSP) with the Financial Sector Conduct Authority (FSCA) number 51024.
Financial Services Authority (FSA): Exness is a company regulated by the Financial Services Authority (FSA) of Seychelles, under license number SD025. This might sound strange to you, but in fact, it is a very reputable regulatory body that many people choose for their business because there are more flexible requirements for getting registered and less paperwork involved.
Central Bank of Curaçao and Sint Maarten (CBCS): Licensed by the Central Bank of Curaçao and Sint Maarten, Exness BV is a Securities Intermediary authorized and regulated by that bank with license number 0003LSI.
Financial Services Commission (FSC): With registration number 2032226 and investment business license number SIBA/L/20/1133, Exness (VG) Ltd is authorized by the Financial Services Commission (FSC) in BVI.
Financial Services Commission (FSC): Investment Dealer (Full Service Dealer, Excluding Underwriting) license number GB20025294 is issued by the Financial Services Commission (FSC), Mauritius, for Exness (MU) Limited.
Cyprus Securities and Exchange Commission (CySEC): The Cyprus Securities and Exchange Commission (CySec) is a regulator located in Cyprus responsible for the supervision of all investment services provided within its jurisdiction. They ensure that brokers act in bye-laws of the Republic of Cyprus and those in the European Union. Exness also has a CySEC license, under number 191/13, through which they offer trading services to clients worldwide.
Financial Conduct Authority (FCA): The Financial Conduct Authority (FCA) regulates and authorizes Exness (UK) Ltd as an investment firm in the UK under registration number 730729.
Is Exness licensed in South Africa?
Yes, Exness is licensed and authorized in South Africa by the Financial Sector Conduct Authority (FSCA) as a Financial Service Provider (FSP).
The Exness ZA (PTY) Ltd. FSP number 51024.
How to verify Exness License in South Africa?
First, go to Financial Sector Conduct Authority (FSCA) Official Website.
The Search form will appear after visiting the above link.
After that Enter Exness FSP Number i.e. 51024 in the Search For FSP No input box.
Click on Submit Button.
Now the result box appears by saying “There are 1 FSPs that match your search criteria“.
Here, you can see the Authorized Status for the Exness Forex Broker.
You can also see details of the company by clicking on the Details button.
Your funds are protected.
The FSCA protects your funds.
To ensure that Exness’s customers’ funds are protected in case of unforeseen circumstances, the company has joined the Financial Services Board (South Africa) (FSCA).
The watchdog regulates the country’s financial system and works to protect consumers from fraud, financial loss, and unfair investment practices.
As an independent body, it is not beholden to political or other interests. This means that Exness’s clients enjoy extra protection from their investments as well as a sense of security when using our services.
In conclusion, yes it is. Exness is a regulated forex broker and offers forex trading services in South Africa. If you want to know more about Exness, read our full exness review here.