XM ZA (Pty) Ltd is authorised by the Financial Sector Conduct Authority (FSCA) in South Africa as a Financial Service Provider (FSP) with authorisation number 49976. Client accounts will be onboarded with one of our affiliated entities - XM Global Limited, regulated by the Belize Financial Services Commission (license number 000261/27) or XM (SC) Limited, regulated by the Seychelles Financial Services Authority (FSA) under (Securities Dealer's License number SD190). The entity with which your account is opened will act as counterparty and principal to your trades. The affiliated entities operate in accordance with the applicable legal and regulatory requirements of their respective jurisdictions, which will apply to your account accordingly.