How to Check If a Forex Broker Is Legit: FCA / ASIC / CySEC License Verification Guide
✓ Last verified 2026-07-24
The single most reliable way to avoid a forex scam isn’t a “top 10 broker” list — it’s learning to check a license yourself, directly on the regulator’s own website, in under five minutes. Here’s how.
Step 1: Find the license number
Legitimate regulated brokers display their license or registration number somewhere on their site, usually in the footer or on an “About” / “Regulation” page. If you can’t find one at all, that alone is a red flag.
Step 2: Go to the regulator’s official register — not a link the broker gives you
Type the regulator’s domain in yourself:
- FCA (UK): the Financial Services Register on fca.org.uk
- ASIC (Australia): ASIC Connect’s professional registers on asic.gov.au
- CySEC (Cyprus): the Regulated Entities register on cysec.gov.cy
Search the license number or company name directly on these official registers. Scammers sometimes list a real license number that belongs to a different company, so confirm the registered company name matches exactly what the broker uses to open your account.
Step 3: Check the entity, not just the brand
Many international brokers operate several legal entities under one brand name — one regulated by a top-tier regulator, another registered in a jurisdiction with lighter oversight. Read carefully which entity you’ll actually be contracting with based on your country of residence; it’s often disclosed in the account-opening terms, not the marketing homepage.
Step 4: Cross-check against the regulator’s warning list
Most regulators, and the Philippine SEC separately, also publish a list of flagged or unauthorized entities. If a broker or a look-alike name appears there, stop.
Step 5: Treat “regulated” claims on comparison sites with caution — verify yourself
Even well-intentioned comparison content can be outdated. Before funding an account, the register lookup in Step 2 is the only step that matters.
Red flags that go beyond licensing
- Guaranteed or “risk-free” returns
- Pressure to deposit quickly or increase your deposit to “unlock” a bonus
- Requests to trade through an unfamiliar third-party platform instead of the broker’s own regulated platform
- Difficulty finding any physical company registration details
We’ll be publishing hands-on broker reviews as we complete our own verification process — until then, use the steps above on any broker you’re considering.
This is general educational information, not investment advice. Always perform your own due diligence.