We are regrettably unable to open any new accounts at this time.
A new licensing regime for Over-the-Counter Derivative Providers (ODPs) in South Africa was introduced by the Financial Markets Act Regulations, 2017 (the Regulations). As required under these Regulations, IG Markets South Africa Limited (South Africa branch) (“IG”) applied for a license for ODPs, to enable IG to continue to offer CFD trading to clients.
IG has been operating in accordance with transitional arrangements since 14 June 2019 while its application was under consideration by the Financial Services and Conduct Authority (FSCA). IG was granted an exemption by the FSCA on 24 December from Regulation 2(a) of the Financial Market Act Regulations, read with sections 5 and 6(a) of the Financial Markets Act 2012. The extent and circumstances of this exemption, and the conditions to which it is subject, are set out in the FSCA’s FM Notice 9 of 2020.
While we’re operating under this exemption granted by the FSCA, we are regrettably unable to open any new accounts.
Should you wish for us to add you to a waiting list, please leave your details below and we will keep you updated on this process.