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The Financial Sector Conduct Authority (FSCA) is the South African financial institutions market conduct regulator and a successor agency to the Financial Services Board (South Africa). Wikipedia

CFD stands for Contract for Difference. It is a popular derivative product that allows traders to speculate on the price movements of various financial instruments without owning the underlying asset. CFDs provide an opportunity to profit from both rising and falling markets.  CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs.

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