FP Markets has officially opened a new office in Johannesburg, adding a physical presence in one of Africa’s largest financial centres as the broker expands its operations in South Africa.While the office's size, headcount, or specific growth targets remain unclear, the move is a statement of intent in a market many are fleeing.Meet the FP Markets South Africa team! As part of our global expansion strategy, we are very pleased to share that we now have a local team in Johannesburg ready to support the trading journey of our clients and partners across South Africa. Over 20 years of integrity, transparency, and client-first service, now delivered by a dedicated team. #FPMarkets #SouthAfrica #Trading #Forex #CFDs— FP Markets (@FP_markets) November 3, 2026London's trading industry is coming home!Mass ExodusSince South Africa’s Financial Sector Conduct Authority (FSCA) introduced the rigorous Over-the-Counter Derivatives Providers (ODP) licensing framework, bringing the country’s regulatory standards in line with global watchdogs, a wave of brokers has packed up and left.As of June, out of 70 non-banks on the register, four had surrendered their licenses, while 26 withdrew their applications. Even giants like IG Group, which had spent years establishing a presence in the country, completely exited the market.The rush for the exit is largely down to the FSCA’s grueling operational, auditing and compliance demands on ODP license holders, paired with large penalties for slip-ups. “In addition to an increasingly scrutinous licensing and supervision approach, the FSCA has made the costs of operating an ODP in South Africa very high,” explained Nikolas Xenofontos, Managing Director at SALVUS Funds.Rather than securing an ODP authorisation, FP Markets conducts business in South Africa via an FSP license, a route others have chosen to follow. While this route provides a less demanding, regulated pathway into the region, it prevents brokers from operating as a market maker. An Internal OverhaulThe Johannesburg launch comes in the midst of an internal shake-up for FP Markets. In April, the broker confirmed it had slashed approximately 7% of its global workforce, claiming the cuts were part of a "broader review" to change and consolidate roles while continuing to hire in strategic growth areas.Alongside these internal shifts, the firm strengthened its leadership team by appointing Nikolay Nikolaev, formerly of Skilling, as Chief Technology Officer. The broker also brought in former Doo Group executive Haris Sergiou to serve as Global Head of Business Development, supported by Andreas Neophytou in the role of Global Business Development Coordinator.Technology investments appear to be a key growth area for the broker, highlighted by the deployment of AI tools and the appointment of ex-Deriv executive Geo Nicolaidis as Head of AI Transformation.This article was written by Adonis Adoni at www.financemagnates.com.