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Regulation

UK forex licence: how to check a broker on the FCA register

Learn how to check whether a forex broker is authorised in the UK, how to use the FCA register and what warning signs to look for before depositing.

Updated 10 Jul 2026 · 6 min read
Quick answer

A "UK forex licence" means authorisation by the Financial Conduct Authority (FCA). You can verify any claim in minutes on the FCA's official Financial Services Register at register.fca.org.uk — search the firm's reference number (FRN), not its name. If the broker isn't on the register, or the FRN belongs to a different company, it is not FCA-authorised, whatever its website says.

What a UK forex licence actually means

There is no separate "forex licence" document — a broker serving UK retail clients needs FCA authorisation with the right permissions (dealing/arranging in CFDs and rolling spot forex). FCA authorisation brings specific, checkable rules: retail CFD leverage capped at 30:1 on major pairs, negative balance protection, segregated client money under CASS rules, and FSCS cover of up to £85,000 per person if the firm itself fails (never for trading losses).

FCA-authorised vs offshore entity — the trap to check

Many broker groups hold an FCA licence andoffshore licences at the same time. "FCA regulated" on a homepage can describe the group while your account sits with a Seychelles, Mauritius or Bahamas entity that the FCA has never supervised. The entity named on your client agreement — not the brand — decides whether UK protections apply. Our entity checker maps which entity typically onboards UK residents for each broker we track, and this guide explains the pattern.

How to check the FCA register (4 steps)

  1. Get the firm's FCA reference number (FRN) from the broker's website footer or legal documents.
  2. Go directly to register.fca.org.uk — type it yourself; never follow a link the broker or a caller sends you.
  3. Search by FRN and confirm the legal name matches the entity on your client agreement exactly — clone firms rely on near-miss names.
  4. Check the status says the firm is authorised with permissions for the products you'll trade, and note any warnings on the entry.

Full walkthrough with screenshots of what each field means: how to verify a broker licence.

The FCA warning list

The FCA publishes a running list of unauthorised firms and clone scams at fca.org.uk/news/warnings. Check it even when the register entry looks right: clone firms impersonate genuine authorised brokers, borrowing their name and FRN. The FCA has published clone warnings affecting brokers in our own database — including a fake "Eightcap VIP" operation impersonating the genuine Eightcap Group Ltd, and an "FX Time" clone targeting people searching for Exinity UK Ltd (FXTM). Our clone-firm guide shows how the scam works.

What UK residents should verify before depositing

  • The exact legal entity on the client agreement is the FCA-authorised one — not a sister entity offshore.
  • The FRN on the FCA register resolves to that same legal name and an authorised status.
  • Leverage offered to you is capped at 30:1 on majors — an offer of 500:1 to a UK retail client is a sign you're being onboarded offshore.
  • FSCS eligibility is stated for the entity holding your money.
  • The domain you're using matches the one on the FCA register entry.

FCA-regulated brokers we track are listed with their register-checked licence details on the regulation page, and every broker profile shows its licence evidence status — for example Pepperstone (FCA 684312, register-verified).

Common questions

How do I check if a forex broker is FCA regulated?

Search the firm's reference number (FRN) on the official FCA Financial Services Register at register.fca.org.uk and confirm the legal name matches your client agreement exactly, the status is authorised, and the permissions cover CFDs/forex. Never rely on a badge on the broker's own site.

What protections does an FCA-authorised broker give UK clients?

Retail leverage capped at 30:1 on major pairs, negative balance protection, segregated client money under CASS rules, and FSCS cover up to £85,000 per person if the firm fails. FSCS never covers trading losses.

Can a broker claim FCA regulation but onboard me offshore?

Yes — groups often hold FCA and offshore licences simultaneously, and the group website can say 'FCA regulated' while your account is with an offshore entity. The entity on your client agreement decides your protections; verify it on the register.

What is the FCA warning list?

A public list at fca.org.uk/news/warnings of unauthorised firms and clones impersonating genuine authorised firms. Check it alongside the register — a clone can quote a real FRN that belongs to the firm it is impersonating.

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Related

Informational research only — not financial advice. Fees, terms and regulatory status change; verify directly with the provider and on official registers before depositing.