How to Check if a Forex Broker is Regulated (5-Minute Guide)
KenMacro Guide, 2026
By Ken Chigbo, Founder, KenMacro, UK macro desk.
Updated 2026-06-04
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The short answer
To check if a forex broker is regulated, find the regulator and licence number the broker claims, then search that number on the regulator’s own public register and confirm the details match. Start in the website footer or the legal and about pages, where a genuine broker states its regulator and a specific licence or reference number. Take that number to the source itself, such as the FCA Register at register.fca.org.uk, ASIC Connect in Australia, the CySEC register in Cyprus, or the relevant offshore register like the Seychelles FSA or Mauritius FSC. Confirm the company name matches exactly, the licence is current, and it authorises dealing in CFDs or derivatives. One step most people skip matters as much as the rest: check which legal entity you are actually signing up under, because a broker can hold a top tier licence as a brand yet onboard you through an offshore arm that the licence does not cover. Finish by checking the regulator’s warning and clone firm lists. A verified tier one licence, the correct entity, and segregated client funds are your safety baseline.
Find the licence number and search the register
Every regulated broker has to say who regulates it and under what licence. Look first at the website footer, then the legal, about, or regulation pages, and note the regulator name alongside a specific licence, registration, or reference number. A claim of being regulated with no number behind it is not a claim you can verify, so treat it as unverified until proven otherwise. Take the number to the regulator’s own public register rather than trusting a screenshot or badge on the broker’s site. Use register.fca.org.uk for the FCA in the United Kingdom, ASIC Connect and the professional registers in Australia, the CySEC register in Cyprus, and the relevant offshore register such as the Seychelles FSA or the Mauritius FSC. Search by the number or the company name. Confirm three things on the result: the legal name matches exactly, the authorisation is current and not lapsed or withdrawn, and the permissions cover dealing in CFDs or derivatives. Anything less than an exact, current, activity matched result is a problem worth pausing on.
The entity check most people skip
This is the step that catches people out. A broker can be regulated as a brand under a tier one licence, then onboard you through a separate offshore entity that the licence does not cover. The marketing pages wave the strong regulator at you, while the account you open sits with a company registered in Seychelles, Mauritius, or Vanuatu. Your protections follow the entity on your client agreement, not the logo at the top of the homepage. During sign up, open the client agreement or terms of business before you deposit and read which company you are actually contracting with. Match that exact legal name back against the register you checked, because the licensed entity and the entity on your agreement are not always the same business. Where they differ, you are relying on the offshore regulator, which usually means weaker dispute resolution and no compensation scheme. Knowing this in advance is not a reason to panic, it is simply the difference between assuming you are covered and confirming it. The entity on the agreement is what counts.
Which broker for this
You cannot trade any of this without a broker that fits how you actually trade. The desk’s stack, by what you need most.
See all eight brokers KenMacro approves, with the honest caveats
Clone firm warnings and the red flags
Regulators publish lists of firms operating without authorisation, and they publish clone alerts too. A clone is a scam that copies a genuine firm’s name, licence number, and address to look legitimate, often pointing you to a slightly altered website or a different phone number. Before you fund anything, search the firm on the regulator’s warning list and read any clone notice attached to the licence you matched. Several red flags should stop you outright. A licence number that does not appear on the register is the clearest one. A name on the register that does not match the brand you are dealing with is another. Treat regulated claims with no number, pressure to deposit quickly, and any promise of guaranteed returns as reasons to walk away rather than reasons to hurry. Genuine brokers do not rush you and do not guarantee profit. If the contact details on the broker’s site differ from those on the register, assume a clone until the regulator tells you otherwise, and contact the regulator directly through the number it publishes.
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How the desk verifies a broker
The desk runs three rules on every broker before it goes near a review. Rule one: the licence has to resolve on the regulator’s own register, exact name and current status, with permissions that cover the product you would actually trade. Rule two: the entity on the live client agreement has to match the entity on that licence, so a tier one brand that quietly onboards through an offshore arm is flagged as offshore, not tier one. Rule three: client funds have to be held in segregated accounts, separate from the broker’s own money, so a failure of the business does not take your balance with it. Pass all three and a broker earns a place. Fail any one and it does not, regardless of how the marketing reads. That is the whole job, done in a few minutes per broker, and it is exactly what the related broker reviews linked below already show for each broker the desk approves, with the regulator, licence, and entity set out plainly.
The desk’s checklist
- Find the claimed licence. Open the broker’s footer and its legal, about, or regulation pages. Note the regulator named and the specific licence, registration, or reference number. No number means nothing to verify yet, so flag it.
- Search the regulator’s register. Go to the regulator’s own public register, such as register.fca.org.uk, ASIC Connect, the CySEC register, or the relevant offshore register. Search the number or company name and open the matching result directly.
- Confirm name, status, permissions. Check the legal name matches exactly, the authorisation is current rather than lapsed or withdrawn, and the permissions cover dealing in CFDs or derivatives. A near match or expired licence is not a pass.
- Check the signup entity. During sign up, open the client agreement and read which company you contract with. Match that exact entity to the register, because a tier one brand may onboard you through an offshore arm the licence does not cover.
- Cross check warnings. Search the regulator’s warning and clone firm lists for the broker. If contact details differ from the register, or a clone notice is attached, assume a clone and contact the regulator through its own published number.
Frequently asked
How do I know which regulator a broker uses?
Look in the website footer first, then the legal, about, or regulation pages. A regulated broker states the regulator’s name and a specific licence or reference number there. If you can find a regulated claim but no number, treat it as unverified, because a claim you cannot check on the regulator’s own register is not proof of anything yet.
What does it mean if the licence number is not on the register?
It means you cannot confirm the broker is authorised, and that is a serious red flag. The number may be invented, copied from a genuine firm in a clone scam, or attached to a different company. Do not deposit. Search the regulator’s warning and clone lists, then contact the regulator through the phone number it publishes, not one shown on the broker’s site.
Why does the legal entity on my account matter?
Your protections follow the entity you actually contract with, not the brand on the homepage. A broker can hold a tier one licence as a brand yet onboard you through an offshore arm that the licence does not cover. Open the client agreement during sign up, read which company you are signing with, and match that exact name against the regulator’s register before funding.
Is an offshore regulated broker safe?
Offshore regulation is not automatically a scam, but it usually means weaker protection than a tier one licence. Expect lighter oversight, harder dispute resolution, and often no compensation scheme if the firm fails. If a broker onboards you through a Seychelles, Mauritius, or Vanuatu entity, you are relying on that regulator. Weigh that against segregated funds and the broker’s track record before you decide.
What is a clone firm and how do I spot one?
A clone copies a genuine firm’s name, licence number, and address to appear legitimate, then points you to an altered website or a different phone number. Spot one by comparing the broker’s contact details against those on the regulator’s register and by reading any clone notice attached to the licence. If anything differs, assume a clone and contact the regulator directly to confirm.
Verifying a broker yourself takes five minutes. The desk has already done it for the eight brokers it approves, with the entity and licence listed for each:
Which broker for this
You cannot trade any of this without a broker that fits how you actually trade. The desk’s stack, by what you need most.
See all eight brokers KenMacro approves, with the honest caveats
Related from the desk
Sources and further reading
Educational analysis only, not financial advice. KenMacro has commercial partnerships with some firms referenced and may earn a commission if you open an account, at no cost to you. Manage risk against your own circumstances.
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