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From my own research, Evest broker is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, with license number 36060, and also holds an offshore license from the Vanuatu Financial Services Commission (VFSC) under license number 17910. Having FSCA oversight adds a level of credibility, but the VFSC license is offshore, which typically offers weaker investor protection. In my experience, when I read an evest review, I always check the regulatory details before funding an account.