How to Check a Forex Broker's Licence on the Regulator's Register
Choosing a forex broker begins with one simple question: is the company really licensed in the place it says it is? A licence number on a website is a claim, not proof. This guide explains how to check that claim on the regulator's own register before you deposit any money, and what to look for once you locate the entry.
Why Verify the Licence First
A licence from a major check here regulator can offer real safeguards, such as client money held separately and, in some countries, a compensation scheme. However, authorisations can change: firms are sold, rebranded, sanctioned or lose their authorisation. Some companies only hold an offshore company registration, which is not a forex licence at all.
What Protection a Strong Licence Usually Brings
Requirements differ by country, but leading regulators generally require brokers to keep client money in separate bank accounts, hold a minimum amount of capital, report to the regulator and follow conduct rules on marketing and leverage. In the UK, eligible clients of a failed firm may be covered by the Financial Services Compensation Scheme. In the European Union, investor compensation funds provide a smaller level of cover. Many offshore jurisdictions offer none of this, so the same brand can give very different protection depending on which of its companies opens your account.
Companies Covered on FXSharp
The brokers and platforms below each have an independent review on FXSharp. Most hold licences from major regulators, while some also serve clients through offshore entities with weaker protection. Check which company would actually open your account, and read the review prior to depositing.
- Pepperstone
- copyright
- Interactive Brokers
- Saxo Bank
- Charles Schwab
- Webull
- Admirals
- Axi
- Libertex
- RoboForex
- InstaForex
- PU Prime
- StoneX
- Mitrade
- ADSS
- TD365
- Spreadex
- ProRealTime
- GKFX
- AMP Global
Steps to Check a Licence on Your Own
Look up the full company name and licence number in the footer of the broker's site or in its client agreement. Then, go to the regulator's site directly, not through a link from the broker, and search its public register. Search by company name as well as by number, because some registers do not show licence numbers at all. Match the company name, licence status, licence type and, where listed, the approved website address.
Warning Signs to Watch For
Be wary if the register shows a similar but different company name, a licence marked as revoked, suspended or surrendered, or a website address that is not the one you are using. Fraudsters often copy the name and licence number of a genuine company, so look at the regulator's warning list for clone firms too. Pressure to deposit quickly, promises of guaranteed returns and requests to pay through unusual channels are additional warning signs, whatever the website claims about regulation.
Check Again Later On
A licence that was active when you opened an account may not stay that way. Brokers merge, sell their client books, move clients to another entity or lose their authorisation. Checking the register again before a large deposit or a withdrawal costs nothing, and regulators often publish announcements when a firm's status changes.
In short, a couple of minutes on the register may save you from a costly mistake. Trading in forex and CFDs carries a high risk of losing money, so check first, then you deposit.