To verify a forex broker, find the exact legal entity name on the broker's site that serves your country, then search that name on the relevant regulator's public register (FCA, ASIC, CySEC and others). Confirm the licence number, status and permitted activities match — a real licence held by a different entity does not cover you.
Why does verifying a broker's licence matter so much?
A broker's regulatory licence is the single most important safety signal there is — it determines whether your funds are held under client-money rules, whether there is a complaints route or compensation scheme, and whether the firm is supervised at all. Marketing pages routinely display impressive-looking badges; only the regulator's own register tells you which are real and which legal entity actually holds them.
The trap that catches most retail traders is that a large broker group holds several licences across different countries through different legal entities — and the entity that signs up a resident of Georgia, Kazakhstan or Azerbaijan is frequently not the one holding the strict, well-protected European or UK licence. Verifying means checking the specific entity that will hold your account, not just confirming the brand appears somewhere on a register.
Step 1 — Find the exact entity name that serves your country
Open the broker's website and scroll to the footer, the legal/regulation page, or the client agreement. You are looking for the precise legal entity name (often ending in Ltd, Limited, LLC, Pty Ltd or similar) and the jurisdiction it is registered in — for residents of your country specifically. Brokers commonly route different regions to different entities, so the name shown to a UK visitor may differ from the one that opens your account in Tbilisi, Almaty or Baku.
Note the licence number alongside the entity name if the site shows one. You will use both the exact name and the number to search the register. If the site is vague about which entity serves your country, or hides it behind account opening, treat that as a warning sign in itself.
Step 2 — Search that entity on the regulator's own register
Go directly to the regulator's official website — never a link from an advert or a third-party blog — and use its public register or "check a firm" search. Each major regulator publishes one: the FCA in the UK, ASIC in Australia, CySEC in Cyprus, the FSCA in South Africa, the DFSA in Dubai, the Seychelles FSA and the Belize FSC. The entity that serves you may sit under any of these, so check the one named in your client agreement.
Search the exact entity name (and licence number if you have it). Confirm three things match: the entity is listed and currently authorised (not lapsed, suspended or withdrawn); the licence covers the relevant activity (dealing in investments / CFDs, not just an unrelated permission); and any contact details on the register match the broker you are dealing with. A near-match on name is not a match.
- FCA (United Kingdom) — the FCA Register plus the ScamSmart warning list.
- ASIC (Australia) — professional registers / Moneysmart.
- CySEC (Cyprus) — the regulated-entities register.
- FSCA (South Africa) — the financial services provider register.
- DFSA (Dubai, DIFC), Seychelles FSA, Belize FSC — each publishes its own register.
Step 3 — Watch for clone firms and lapsed licences
A common scam is the clone firm: fraudsters copy the name, licence number and address of a genuinely authorised broker and set up a near-identical website to appear regulated. This is why several regulators (the FCA among them) publish dedicated scam-warning and clone-firm lists alongside the register. Always cross-check the contact details and domain on the register against the site you are actually using — if the phone number, email domain or address differs, you may be dealing with a clone.
Equally, a licence that once existed may now be lapsed, suspended or withdrawn. The register shows current status; a broker citing a licence number that the register marks as inactive is not currently protecting you under that licence. When in doubt, contact the regulator through the details on its own site, not details supplied by the broker.
Step 4 — Decide what level of protection you actually have
Once you have confirmed the entity and its licence, ask what that licence actually gives you. A licence from a strict regulator (such as the FCA, ASIC or CySEC) typically brings client-money segregation, conduct rules and, in some jurisdictions, a compensation scheme — but those protections attach to the licensed entity, so if your account sits with an offshore entity of the same group (for example a Seychelles or Belize arm), you may have far less. Read which entity your client agreement names.
In Georgia, Kazakhstan and Azerbaijan there is no developed domestic retail-forex regime, so residents trade through internationally regulated (offshore) brokers — see your country guide for the honest local picture. That can be a legitimate route, but it changes your protection: understand it before you deposit, and never treat an impressive head-office licence as cover for an account actually held elsewhere.
Frequently asked questions
How do I check if a forex broker is regulated?
Find the exact legal entity name that serves your country on the broker's site (footer or legal page), then search that name on the relevant regulator's official public register — FCA, ASIC, CySEC, FSCA, DFSA, the Seychelles FSA or the Belize FSC. Confirm it is listed, currently authorised, and permitted for the relevant activity.
What is a clone firm?
A clone firm is a scam that copies the name, licence number and details of a genuinely regulated broker to appear authorised. Cross-check the contact details, domain and address on the regulator's register against the site you are using — if they differ, you may be dealing with a clone. Some regulators publish dedicated clone-firm warning lists.
Does a broker's UK or EU licence protect me if I live in the Caucasus or Central Asia?
Not necessarily. Large broker groups hold separate licences through separate entities, and the entity that opens your account may be an offshore one (for example Seychelles or Belize) with weaker protection than the UK/EU entity shown elsewhere. Protections attach to the licensed entity, so check which entity your client agreement actually names.
What is the difference between an FCA licence and a Seychelles FSA licence?
An FCA (UK) licence is a strict-tier licence carrying segregated client money, leverage caps and a complaints route; a Seychelles FSA licence is a legitimate but lighter offshore licence with fewer obligations and thinner protection. Many global brokers serve the region through offshore entities, so verify which one holds your account.
What if my country does not license retail forex brokers?
In Georgia, Kazakhstan and Azerbaijan local retail forex is not locally supervised, so residents trade via internationally regulated (offshore) brokers. That can be legitimate but changes your protection level. Verify the offshore entity on its home regulator's register, read your country guide for the honest local picture, and understand the trade-off before depositing.
Sources & further reading
CaspianFX is an independent EU-based publisher comparing forex and CFD brokers for traders across the Caucasus and Central Asia — Georgia, Kazakhstan and Azerbaijan. Our editorial desk verifies every regulatory claim against the regulator's own register and never accepts payment for a better review. Forex and CFD trading is high-risk and most retail accounts lose money.