FSA
Updated:
FSA denotes several unrelated authorities whose regimes range from the world's strictest to no supervision at all. Check which one a broker means before trusting it.
Brokers regulated by FSA
Grand CapitalRead review- Binary options trading available
- No-deposit bonus of up to $500 within 7 days, with profits withdrawable
BDSwissRead review- No standout advantages identified in this review.
Land-FXRead review- Regulated in the UK by the FCA and in New Zealand by the FMA
- ECN account model offers competitive pricing
ICM CapitalRead review- No advantages listed.
SkillingRead review- Affiliate program lets users earn by referring new traders
Plus500Read review- Regulated by the FCA
- Also licensed by CySEC and ASIC
AxiRead review- No specific advantages are documented for Axi.
Forex.comRead review- No specific advantages are documented for this broker.
easyMarketsRead review- No notable advantages identified.
AvaTradeRead review- Regulated in multiple jurisdictions with a solid reputation
- Broad instrument range spanning currency pairs, CFDs, and cryptocurrencies
ForexVoxRead review- No specific advantages identified
YadixRead review- No advantages are documented for this broker.
M4MarketsRead review- Solid platform choice, plus crypto deposit support.
- Well-designed account types with competitive spreads.
Rakuten SecuritiesRead review- No specific advantages are documented for this broker.
EverFXRead review- No standout advantages were identified.
IFS MarketsRead review- No notable advantages found.
Squared FinancialRead review- No standout advantages are documented for this broker
FondexRead review- No specific advantages are documented for this broker.
Swiss MarketsRead review- STP execution with narrow spreads
- Quick, simple account opening and verification
LeoPrimeRead review- No notable advantages are documented for this broker.
- Read review
ClickTradesRead review- No differentiating advantages are identified for ClickTrades.
FirewoodFXRead review- No specific advantages reported
- Read review
AlvexoRead review- No standout advantages identified for this broker.
AdroFxRead review- Accepts cryptocurrency account funding
FSA is the most overloaded acronym in this industry, and the regimes it denotes are not comparable. A broker page saying "FSA regulated" has told you almost nothing until you establish which FSA.
The authorities that use it
Japan's Financial Services Agency runs one of the strictest retail forex regimes anywhere: leverage capped at 25:1, client money held in trust with a trust bank, registration as a Type I Financial Instruments Business Operator, and mandatory membership of the Financial Futures Association of Japan.
The Seychelles Financial Services Authority issues a Securities Dealer Licence requiring capital, two directors, a resident compliance officer, audited accounts and segregation — but no leverage cap and no compensation scheme.
The Saint Vincent and the Grenadines Financial Services Authority registers companies and does not license or supervise forex business at all.
Denmark's Finanstilsynet is routinely rendered as the Danish FSA and applies the full ESMA package with EU compensation cover.
The United Kingdom's former Financial Services Authority was abolished in 2013 and replaced by the FCA and PRA. Any broker still citing it is quoting a body that has not existed for over a decade.
The range that hides behind the initials
Japan caps leverage at 25:1 with statutory trust segregation. Saint Vincent has no rules at all. Both appear on broker pages as "FSA". The difference between them is the difference between the strongest protection on this site and none.
How to resolve it
Find the licence number and the country, then search that country's own register for the exact legal entity in your client agreement. If a broker's regulatory page names an FSA without saying which country, treat the omission as information: a firm licensed in Japan says so prominently, because it is expensive to obtain.
ProForexBrokers.com lists Japan, Seychelles, Saint Vincent and Denmark as separate entries rather than merging them under a shared acronym, because merging them would imply an equivalence that does not exist.