IG Review: FSCA-Regulated Broker for South Africa

FSP 41393 checked against the FSCA register

IG Review: What South African Traders Should Know

IG is one of the longest-established brokers on our list, founded in 1974 and listed on the London Stock Exchange. This page covers what we’ve verified directly, including its South African FSCA authorisation, and is honest about the details we’re still confirming for the deeper account-level review.

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Founded 1974 LSE-listed, FTSE 100 Own platform & MT4

South African Regulation

FSCA-authorised, FSP 41393; company records list the entity as IG Markets South Africa Ltd

Other Regulators

Group licences include the UK’s FCA, among others across its 20-country footprint

Platforms

IG’s own web and mobile platform, MetaTrader 4, ProRealTime (availability varies by market)

Account Structure

CFD trading account (core offering); spread betting is UK/Ireland only

Cost Structure

Spread-based CFD pricing; exact spreads vary by instrument

ZAR & Local Payments

Cards and bank transfer reported generally; confirm specifics at sign-up

Regulation

Is IG Actually Regulated for South Africans?

We don’t take “FSCA regulated” at face value from any broker’s marketing. Here’s what we checked for IG specifically, and how you can check it yourself in a couple of minutes.

Situation 1: FSCA-Authorised South African Entity

IG’s South African operations are authorised by the Financial Sector Conduct Authority under FSP number 41393. Independent company records list the entity behind this as IG Markets South Africa Ltd, part of the wider IG Group corporate structure. That means there’s a named, South Africa-specific entity holding this authorisation, rather than South African clients only being serviced through an offshore arrangement with no local licence.

We’d encourage you to check this yourself rather than take our word for it: search FSP number 41393 on the FSCA’s public register at fsca.co.za. The register listing will confirm the entity name and that the licence is active, both worth seeing for yourself before you fund an account.

Other Group Licences

IG Group is listed on the London Stock Exchange as part of the FTSE 100, and its core UK entity is authorised and regulated by the FCA. The wider group operates in around 20 countries with separate local entities and licences in several of them, which is exactly why we’ve named the specific South African entity above rather than assuming one licence covers all regions.

What We’re Still Confirming

The exact account structure, current trading conditions, platform availability and any South Africa-specific restrictions tied to IG Markets South Africa Ltd are part of our deeper, account-level review, which we’re completing separately. The FSP number and entity name above are confirmed; the fine print of day-to-day trading conditions is what we’re still working through.

Platforms

What You’ll Actually Trade On

Unlike most brokers on our list, IG’s primary platform is built in-house rather than licensed MetaTrader software, though MT4 is available as an alternative in many markets.

IG’s Own Platform

IG’s proprietary web and mobile platform is its primary offering, built and maintained in-house. It includes charting, watchlists, alerts and a client sentiment tool showing how other IG traders are positioned.

MetaTrader 4

Available in many markets as an alternative for traders who prefer the familiar MT4 environment, with its large library of custom indicators and expert advisors.

ProRealTime

A charting-focused platform offered in some markets, aimed at traders who want deeper technical analysis tools than a standard broker platform provides.

Account Structure

How IG Is Structured, Compared to a Typical Forex Broker

IG doesn’t use the tiered Standard/Pro/Zero-style ladder common among forex-focused brokers. Its structure is built around product type instead.

CFD Trading Account

IG’s core retail offering, and the relevant product for South African clients: contracts for difference across forex, indices, commodities, shares and other instruments, priced on spread.

Spread Betting (UK & Ireland Only)

IG also offers spread betting, but only in the UK and Ireland due to how that product is regulated and taxed there. It isn’t relevant to South African clients, who would trade CFDs instead.

We’re deliberately not publishing exact spread figures, margin requirements or minimum deposit amounts here. Those numbers move, they vary by instrument, and a broker page repeating stale figures is worse than one that sends you to check current terms directly with IG before you fund an account.

South African Fit

Funding Your Account From South Africa

IG’s own app description mentions debit card, credit card and bank transfer as funding methods generally, though we haven’t independently confirmed exactly what applies to South African clients specifically.

Deposits & Withdrawals

IG is reported to support debit card, credit card and bank transfer generally, with specific options varying by region. We haven’t independently confirmed the specific South African payment methods, currency handling or processing times, so we’d rather point you to check this directly during sign-up than guess.

Exchange Control

Trading through a broker based outside South Africa involves moving funds offshore, which falls under South African exchange control rules. This isn’t personal financial or tax advice. If you’re unsure how these rules apply to your situation, a licensed advisor can walk you through it properly.

Weighing It Up

Where IG Holds Up, and Where to Look Closer

Based on what we’ve verified so far. This isn’t a numeric score, and it will get more specific once our full account-level review is published.

Working In Its Favour

A confirmed South African FSCA licence (FSP 41393), with a named local entity behind it.
By far the longest operating history of any broker we’ve reviewed so far, trading since 1974.
Listed on the London Stock Exchange as part of the FTSE 100, with the public reporting requirements that come with that.
A proprietary platform built in-house, plus MT4 and ProRealTime as alternatives in many markets.

Worth Confirming Yourself

Exactly which platforms and instruments are available on a South African account specifically, since availability varies by region.
Exact current spreads, margin requirements and minimum deposits, which change over time.
Which specific local payment methods and processing times apply to South African clients right now.

Questions

IG Review: Frequently Asked Questions

Is IG regulated in South Africa?

Yes. IG’s South African operations are authorised by the FSCA under FSP number 41393. Independent company records list the entity as IG Markets South Africa Ltd. We recommend searching that FSP number directly on the FSCA’s public register at fsca.co.za before you fund an account, since that takes a couple of minutes and confirms the licence is current.

Is IG a scam?

No. IG Group is one of the longest-established brokers we’ve reviewed, founded in 1974 and listed on the London Stock Exchange as part of the FTSE 100. It’s regulated by the UK’s FCA among other regulators, and holds a South African FSCA authorisation. Regulation and a long public-market track record reduce risk, but they aren’t a guarantee against losses, and forex and CFD trading itself carries real risk regardless of which broker you use.

What trading platforms does IG offer?

IG’s own proprietary web and mobile platform is its primary offering, built in-house rather than licensed from a third party. In many markets IG also supports MetaTrader 4 and ProRealTime as alternatives for traders who prefer those. Exact platform availability can vary by region, so it’s worth confirming which options apply to a South African account specifically.

What account types does IG offer?

IG is structured differently from brokers with a tiered account ladder. Its core retail offering is a CFD trading account. IG also offers spread betting in the UK and Ireland specifically, which isn’t relevant to South African clients. Exact spreads, margin requirements and minimum deposits change over time, so we’d rather send you to check IG’s own current terms than publish numbers that may be out of date.

Is Exness or IG better for South African traders?

Exness is the broker Broker Verdict currently recommends first, based on its long operating history and the strength of its overall review. Both Exness and IG have a confirmed South African FSP licence in our research: Exness ZA (Pty) Ltd holds FSP 51024, and IG’s South African entity holds FSP 41393. We’re publishing a dedicated comparison as we complete both full reviews.

Still Deciding? See Our Recommended Broker

Of the brokers we’ve reviewed so far, Exness is the one our team recommends first, on the strength of its confirmed FSCA-authorised entity, platform range and long operating history.

Start trading with Exness

Forex and CFD trading carries significant risk, and leverage can amplify losses as well as gains. Broker Verdict may receive compensation when you sign up through this link. This does not change how we evaluate brokers. See our affiliate disclosure and full risk disclaimer.

Written by the Broker Verdict Team. The South African FSP number was supplied by IG’s affiliate programme; the entity name was corroborated against independent company records. Trading conditions (spreads, margin requirements, minimum deposits) change and are not republished here as fixed figures. Read our full review methodology. Page last reviewed: August 2026.