FSP is a term used in foreign exchange trading and brokering, especially in South Africa. If you don’t know exactly FSP, you can understand it easily in a second. FSP number or name is a must-have thing for forex brokers, CFD brokers, and financial institutions such as insurance firms.
These institutes and brokers will not be considered regulated with FSCA ( Financial Sector Conduct Authority) in South Africa until they have an FSP number.
There are multiple ways to conduct an FSP lookup to check whether the information that a company is providing about its regulation is genuine or not. But we have got the most straightforward way to do that:
What Exactly is FSCA?
In South Africa, Financial Sector Conduct Authority (FSCA) is a dedicated market conduct authority. It was established in 2017 by the Financial Sector Regulation Act 9 of 2017 (the FSR Act).
Before FSCA in South Africa, the duty of conducting authority was officiated by another institute called “Financial Services Board (FSB)” .1 April 2018 was the first day when FSCA started doing its job.
From a trading point of view, FSCA is an institute that issues some different things, including FSP for forex brokers, CFD brokers, and all financial institutions. If you want to know that whether a particular institute or broker is legit and regulated, then you have to see whether FSCA regulates it or not (Only in South Africa).
What do They do?
FSCA is an extremely responsible institute because it was created and established by the South Africa government. FSCA’s job is to conduct everything related to regulation and supervision. The area that is under FSCA is the entire financial industry and sector. This institute has to keep an eye on every client in their area and see whether they are treated well and legally or not. Financial stability is also one of the biggest responsibilities of FSCA. These are some values that Financial Sector Conduct Authority (FSCA) provides:
How to Conduct FSP lookup?
Suppose you want to know about any financial institute or broker whether it is telling the truth about its regulations and legality or not. You can do it easily by going to the official website of FSCA South Africa.
On the website, you will get four options by which you can check a particular institute or broker:
- Search for FSP number
- Search for FSP name
- Search per Postal code
- Search per Person (enter ID)
Here, we are talking about FSP lookup, so that we will put the FSP number or name. When you put the FSP number of any broker or institute, you will get complete information about it. FSP lookup will provide you with detailed information about any company or individual operating any kind of institute. By clicking on search, you will get a result where you will get this information about a particular company or broker:
- FSP number
- FSP name
- Trading name
- Fin Year-End
- Current status
- KI of Rep
- Sole Proprietor
Now, you know almost every important thing about FSCA and FSP lookup. But suppose you are not satisfied with the information that FSCA provides. In that case, you can click on the “detail” option to get more in-depth information.