FSB - South Africa Regulated Brokers

The Financial Services Board (FSB) of South Africa is responsible for the oversight and regulation of the non-bank financial institutions. The Board has the power to impose unlimited fines to regulated firms and operates a customer complaints service. The FSB has designed and introduce a heavy legal framework but it may not be on the same level as the NFA-USA or the FCA-UK. However, the Forex Brokers aim to receive a license from the FSB simply because the country is considered the most advanced in the continent and offers great opportunities for the Forex Brokers.