How to Verify a Broker

Every legitimate broker should clearly display their regulatory information on their website — typically in the footer or on a dedicated "Regulation" page. Look for:

• The name of the regulatory body (e.g., FCA, ASIC, CySEC)
• A license or registration number
• The registered legal entity name (may differ from the brand name)

If a broker does not disclose any regulatory information, treat it as a major red flag. Regulated brokers are required by law to display their license details prominently.

Go directly to the regulator's official website — never use links provided by the broker itself, as fraudulent brokers may link to fake or cloned regulator pages.

Each regulator maintains a public register where you can search for licensed firms. Use the broker's license number or registered company name:

• FCA: Use the Financial Services Register — search by firm name or FRN (Firm Reference Number).
• ASIC: Use the ASIC Connect Professional Register — search by company name or AFSL number.
• CySEC: Check the Regulated Entities section — search by CIF license number.
• BaFin: Use the Company Database to search registered institutions.
• MAS: Check the Financial Institutions Directory.

Once you find the entry in the register, compare the following details against what the broker claims:

• Company name — Must match the legal entity name, not just the brand
• License number — Must exactly match what the broker displays
• License status — Must be "Active" or "Authorised" (not expired, suspended, or revoked)
• Scope of services — Must include forex/CFD trading or investment services
• Website URL — Some registers list the firm's official website; verify it matches

If any of these details don't match, the broker may be misrepresenting their regulatory status or could be a clone firm.

Even if a broker appears to be regulated, check whether any regulator has issued a warning against them:

• FCA Warning List: Unauthorised firms and individuals
• ASIC: Check the ASIC Investor Alert List
• ESMA / National regulators: Cross-check with multiple EU regulators

Also search for the broker's name on independent forums, review sites, and news outlets. Multiple complaints about withdrawal issues, manipulated prices, or hidden fees are serious warning signs.