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Regulation & safety

Check the regulation before you fund the account

Start with the company on your account agreement, then check its official record and the website you are dealing with. A regulator logo or licence number on a homepage is only the starting point.

Do it yourself

How to tell if a broker's licence is real

Check the legal company, official record, permissions and contact details together. A genuine licence number can still be quoted by someone impersonating its holder.

1

Find the company on your agreement

Write down the exact legal name from the account agreement, the claimed regulator and any licence or reference number. A group brand may appear beside several different companies.

2

Open the regulator's own register

Use the official regulator website independently of the sales message. Search the legal name or reference number; check the regulator's web address too. A certificate image or copied register screenshot is not the live record.

3

Read the status and service permissions

Match the company and reference number. Read the current status, permitted services and any restrictions. A company-registration entry is different from financial authorisation; an entry for another service does not establish permission for the account you are opening.

4

Match the website and contact details

Compare the domain, email and phone with the regulator's record where published. Contact the firm using those independently sourced details if anything differs. A clone can copy a genuine company's name and licence number while using another website or phone.

Official registers

Confirm the official domain before searching. Use the register for the company on your agreement; the brand's other licences may belong to different companies.

FCA — United KingdomASIC — AustraliaCySEC — Cyprus / EUFSCA — South AfricaBaFin — GermanyNFA / FINRA — United States

If the details do not match

  • · Pause the application if the record names a different company or the permissions do not cover the service.
  • · Search the regulator's warning list for both the company name and website; a clone warning concerns the impersonator, not automatically the genuine firm.
  • · An empty search result is inconclusive. Ask the regulator for clarification; absence from a warning list is not confirmation of authorisation.

A matching record establishes what the regulator says about that company. Confirm separately which company will open your account, whether it accepts your country and which terms apply.

Checklist reviewed 15 October 2026. UK source examples: the FCA's clone-firm guidance, FCA Firm Checker and FCA Warning List. Register fields and permissions differ by regulator.

Full licence-check walkthrough →Compare a website with our saved records →Read the dated licence evidence →UK forex licence check (FCA register) →Is Vantage regulated? →WorldCapital1 / WRC1 regulation & withdrawals check →Clearsave Trading check →Prop trading in Germany: what to check before joining →
The tiers

Not all licences are equal

A licence from one regulator is not the same as a licence from another. The tier tells you roughly how much protection sits behind it.

Tier 1

Examples: FCA (UK), ASIC (Australia), BaFin (Germany), SEC/FINRA & CFTC/NFA (US)

The strictest regimes: high minimum capital, mandatory client-money segregation, conduct enforcement, and leverage caps for retail traders.

What it protects: Strongest day-to-day protection. Most (not all) tier-1 regimes also run a compensation scheme if the firm itself fails.

Tier 2

Examples: CySEC (Cyprus), FSCA (South Africa), DFSA (Dubai)

Real oversight and registers you can check, but lighter capital and compensation cover than tier 1. CySEC firms passport across the EU and carry the EU's €20,000 investor-compensation scheme.

What it protects: Meaningful, but read the detail — cover limits and enforcement are weaker than tier 1.

Offshore

Examples: FSA (Seychelles), FSC (Belize/Mauritius), VFSC (Vanuatu)

Light-touch jurisdictions used to offer very high leverage and looser rules. Often little real supervision of how client money is handled.

What it protects: Minimal. Usually no compensation scheme and limited recourse if something goes wrong. Treat with caution.

What's behind a licence

Three protections worth checking by name

“Regulated” is a spectrum. These are the specific protections that actually matter — and any of them can be missing even when a broker is technically licensed.

Compensation schemes

A backstop that pays you back — up to a cap — if the broker itself failsand can't return your money. It does not cover trading losses.

  • · UK (FSCS): up to £85,000 per person
  • · EU (ICF, via CySEC): up to €20,000
  • · Australia (ASIC): no investor compensation scheme for retail FX/CFD losses
  • · Most offshore: none

Segregated client funds

Your deposit is held in a separate bank accountfrom the firm's own money, so it can't be spent on the firm's costs and is ring-fenced if the firm collapses.

It's a baseline you should expect from any serious broker — but segregation quality varies, and it's not a guarantee against loss.

Offshore entities

The trap: a broker advertises an FCA or ASIC licence, then onboards international clients under a different offshore entity with higher leverage, weaker protection and no compensation scheme.

Check which entity your client agreement names and which regulator covers it — that's the one protecting your money, not the badge on the homepage.

Decode which entity may apply →

Get the broker deposit checklist.

A plain-English checklist for checking regulation, fees, withdrawal terms, leverage risk and red flags before you fund an account.

Educational checklist only — not investment advice and no trading signals. We store your email to send the checklist; no spam. See our privacy policy.

Per broker

Is your broker regulated? Register-checked answers

One page per broker, computed from the licence-evidence log: every licence with its verification status, which legal entity would onboard you, and what the licences actually protect.

Ranked

Platforms by regulation score

Our regulation & safety score combines licence tier, fund segregation, compensation cover and negative-balance protection. Licence numbers below should be confirmed on the official register — they can change, and we show them so you can check.

Last updated October 2026·Regulatory details and licence numbers are reviewed periodically and can change — verify current terms with the broker before you deposit.·How we score

SourcesRegulator registersBroker licence disclosures
PlatformReg. scoreRegulatorsSegregated
Pepperstone logoPepperstone93
FCAASICBaFin+5
Yes
IG logoIG90
FCABaFinASIC+5
Yes
XTB logoXTB88
FCAKNFCySEC+3
Yes
IC Markets logoIC Markets87
ASICCySECCMA+1
Yes
ThinkMarkets logoThinkMarkets86
FCAASICCySEC
Yes
FXTM logoFXTM85
FSCACMA
Yes
Tickmill logoTickmill82
FCACySECFSCA+1
Yes
Eightcap logoEightcap82
ASICFCACySEC+1
Yes
Vantage Markets logoVantage Markets80
ASICFSCACIMA
Yes
XM logoXM80
ASICCySECDFSA+2
Yes
Axi logoAxi79
ASICFCACySEC+2
Yes
Exness logoExness78
FCACySECFSCA+2
Yes
Blueberry Markets logoBlueberry Markets76
ASIC
Yes
VT Markets logoVT Markets76
FSCAFSC
Yes
ActivTrades logoActivTrades75
FCACMVM
The EU client-funds page says client accounts are segregated from company funds (read 26 October 2026). This is a broker statement, not our inspection of banking arrangements. Confirm the client-money terms of the company on your agreement; another branch's terms are not established here.
Fusion Markets logoFusion Markets74
ASICCySECVFSC+1
Yes
StarTrader logoStarTrader66
ASICFSCACMA (UAE)+2
Yes
InstaForex logoInstaForex65
BVI FSC
Ordinary client-money segregation for this international account was not established by the documents reviewed. The separately named Segregated Account service is a special arrangement requiring proof of funds above USD50,000, with a 30% deposit and 70% credit; it is not evidence that all ordinary accounts use segregated client-money arrangements.
RoboForex logoRoboForex60
FSC
Yes
PU Prime logoPU Prime60
FSCACMA (UAE)FSA+1
Yes
LiteFinance logoLiteFinance58
CySECMISA
Yes
Moneta Markets logoMoneta Markets55
FCA · non-retail group firmFSA SeychellesFSC Mauritius
The international risk disclosure says client funds are held in segregated bank accounts unless otherwise agreed in writing. This is the broker's contractual statement, not our verification of its banking arrangements or a compensation guarantee.
HYCM logoHYCM55
FCADFSACMA (UAE)
HYCM says capital not allocated to margin is segregated from operating funds. Check the exact entity's client-money terms.
Evidence log

Licence evidence log

Every licence claim in our database, with its verification status and check date. 105 findings verified from official sources · 6 historical corrections awaiting re-verification · 4 pending or unknown. Findings include entity-only confirmations and historical records, not just current licences. An incomplete check does not mean a licence is invalid.

What the corrections taught us: the three ways broker licence numbers go wrong →

BrokerLegal entityRegulator · licenceStatusChecked
ActivTradesActivtrades PlcFCA 434413Verified on register2026-10-26
ActivTradesActivMarkets – Empresa de Investimento, S.A.CMVM 433Pending — verify2026-10-26
ActivTradesActivTrades Europe S.A.
Not current authorisation for this brand
CSSF no number published by this registerEntity verified2026-10-26
InstaForexInstaFinance LtdBVI FSC no number published by this registerEntity verified2026-10-24
InstaForexInstant Trading EU LtdCySEC 266/15Verified on register2026-10-24
Moneta MarketsMONETA MARKETS CAPITAL LTDFCA 613381Verified on register2026-10-20
Moneta MarketsMoneta Markets LtdFSA Seychelles no number published by this registerEntity verified2026-10-22
Moneta MarketsMoneta Markets Trading LimitedFSC Mauritius no number published by this registerEntity verified2026-10-20
HYCMHYCM CAPITAL MARKETS (UK) LIMITEDFCA 186171Verified on register2026-09-30
HYCMHYCM LimitedDFSA F000048Verified on register2026-09-30
HYCMHYCM Financial Services L.L.C.CMA (UAE) 20200000473Pending — verify2026-09-30
PepperstonePepperstone LimitedFCA 684312Verified on register2026-09-09
PepperstonePepperstone EU LimitedCySEC 388/20Verified on register2026-06-19
PepperstonePepperstone Group LimitedASIC 414530Verified on register2026-09-14
PepperstonePepperstone Financial Services (DIFC) LimitedDFSA F004356Verified on register2026-06-19
PepperstonePepperstone Markets Kenya LimitedCMA 128Verified on register2026-07-01
ExnessExness KE LimitedCMA 162Verified on register2026-08-22
FP MarketsFP Markets LimitedCMA 193Verified on register2026-08-22
IC MarketsIC Markets (KE) LimitedCMA 199Verified on register2026-08-22
XMTPXMGLOBAL Kenya LimitedCMA 233Verified on register2026-08-22
PepperstonePepperstone GmbHBaFin 151148Verified on register2026-09-19
PepperstonePepperstone Markets LimitedSCB no number published by this registerEntity verified2026-09-14
PepperstonePepperstone Financial Services LLCCMA (UAE) no number published by this registerEntity verified2026-09-14
IC MarketsInternational Capital Markets Pty LtdASIC 335692Verified on register2026-09-14
IC MarketsIC Markets (EU) LtdCySEC 362/18Verified on register2026-10-06
IC MarketsRaw Trading Ltd (IC Markets Global)FSA SD018Verified on register2026-09-14
XMTrading.com Markets Pty Ltd (formerly Trading Point of Financial Instruments Pty Ltd)ASIC 443670Verified on register2026-09-15
XMTrading Point of Financial Instruments LtdCySEC 120/10Verified on register2026-06-19
XMTrading Point MENA LimitedDFSA F003484Verified on register2026-06-19
XMXM Global LimitedFSC 8557558Verified on register2026-09-23
FP MarketsFirst Prudential Markets Pty LtdASIC 286354Verified on register2026-09-15
FP MarketsFirst Prudential Markets LtdCySEC 371/18Verified on register2026-10-06
FP MarketsFP Markets (Pty) LtdFSCA FSP 50926Verified on register2026-09-23
Vantage MarketsVantage Global Prime Pty LtdASIC 428901Verified on register2026-09-15
Vantage MarketsVantage Markets (Pty) LtdFSCA FSP 51268Verified on register2026-09-23
Vantage MarketsVantage International Group LimitedCIMA 1383491Verified on register2026-07-10
FXTMExinity UK Ltd (fmr Forextime UK Limited)FCA 777911Verified on register2026-09-09
FXTMExinity LimitedFSCA FSP 50320Verified on register2026-09-09
FXTMExinity Capital East Africa LimitedCMA 135Verified on register2026-08-22
FXTMForexTime Ltd
Not current authorisation for this brand
CySEC 185/12Verified on register2026-09-23
VT MarketsCentFX Global Pty Ltd (formerly VT Global Pty Ltd)
Not current authorisation for this brand
ASIC 516246Corrected — verify2026-09-23
VT MarketsVT Markets (Pty) LtdFSCA FSP 50865Verified on register2026-09-23
VT MarketsVT Markets LimitedFSC GB23202269Corrected — verify2026-09-23
RoboForexRoboForex LtdFSC 9759600Verified on register2026-09-23
PU PrimePU Prime (Pty) LtdFSCA FSP 52218Verified on register2026-09-23
PU Prime(no Bahamas entity)
Not current authorisation for this brand
SCB SIA-F216Corrected — verify2026-09-23
PU PrimePU Prime LimitedFSA SD050Verified on register2026-07-02
PU PrimePU Prime LtdFSC no number published by this registerEntity verified2026-09-23
PU PrimePU Prime Financial Services LLCCMA (UAE) no number published by this registerEntity verified2026-09-23
LiteFinanceLiteforex (Europe) LtdCySEC 093/08Verified on register2026-06-19
LiteFinanceLiteFinance (offshore)MISA T2023311Unverified2026-09-23
StarTraderSTARTRADER Prime Global Pty LtdASIC 421210Verified on register2026-09-23
StarTraderStarTrader International Pty LtdFSCA FSP 52464Verified on register2026-09-23
StarTraderSTARTRADER Financial Markets LimitedFSC GB24203371Corrected — verify2026-09-23
StarTraderSTARTRADER LimitedFSA no number published by this registerEntity verified2026-09-23
StarTraderSTARTRADER Global Financial Consultation & Financial AnalysisCMA (UAE) no number published by this registerEntity verified2026-09-23
ExnessExness (UK) LtdFCA 730729Verified on register2026-09-09
ExnessExness (Cy) LtdCySEC 178/12Verified on register2026-09-19
ExnessExness ZA (Pty) LtdFSCA 51024Verified on register2026-09-23
ExnessExness (SC) LtdFSA no number published by this registerEntity verified2026-09-23
Blueberry MarketsBlueberry Australia Pty LtdASIC 535887Verified on register2026-09-15
ThinkMarketsTF Global Markets (Europe) LtdCySEC 215/13Verified on register2026-10-07
ThinkMarketsTF Global Markets (UK) LimitedFCA 629628Verified on register2026-09-09
ThinkMarketsTF Global Markets (Aust) Pty LtdASIC 424700Verified on register2026-09-15
etoroeToro AUS Capital LimitedASIC 491139Verified on register2026-09-23
etoroeToro (Europe) LtdCySEC 109/10Verified on register2026-06-19
XTBXTB LimitedFCA 522157Verified on register2026-09-09
XTBXTB S.A.KNF no number published by this registerEntity verified2026-09-23
XTBXTB Ltd (Cyprus)CySEC 169/12Verified on register2026-08-25
XTBXTB MENA LimitedDFSA F006316Verified on register2026-09-23
XTBXTB International LimitedFSC 6442514Verified on register2026-09-23
XTBXTB Agente de Valores SpACMF 216Verified on register2026-08-25
IGIG Markets LimitedFCA 195355Verified on register2026-09-09
IGIG Index LimitedFCA 114059Verified on register2026-09-09
IGIG Europe GmbHBaFin 148759Verified on register2026-08-25
IGIG Australia Pty LtdASIC 515106Verified on register2026-09-23
IGIG Bank S.A.FINMA no number published by this registerEntity verified2026-08-25
IGIG Asia Pte LtdMAS no number published by this registerEntity verified2026-08-25
IGIG LimitedDFSA F001780Verified on register2026-09-23
IGIG International LtdBMA no number published by this registerEntity verified2026-09-23
IGIG Securities LtdJFSA Kanto (Kinsho) No. 255Verified on register2026-09-23
avatradeAVA Trade EU LimitedCBI C53877Verified on register2026-06-19
avatradeAva Capital Markets Australia Pty LtdASIC 406684Verified on register2026-09-23
avatradeAva Capital Markets (Pty) LtdFSCA 45984Verified on register2026-09-23
avatradeAva Trade Japan K.K.FSA 1662Verified on register2026-08-18
hfmHF Markets (UK) LimitedFCA 801701Verified on register2026-09-09
hfmHF Markets (Europe) LtdCySEC 183/12Verified on register2026-06-19
hfmHF Markets SA (Pty) LtdFSCA 46632Verified on register2026-09-23
hfmHF Markets (Seychelles) LtdFSA no number published by this registerEntity verified2026-09-23
TickmillTickmill UK LtdFCA 717270Verified on register2026-09-09
TickmillTickmill Europe LtdCySEC 278/15Verified on register2026-08-22
TickmillTickmill South Africa (Pty) LtdFSCA 49464Verified on register2026-09-23
TickmillTickmill LtdFSA no number published by this registerEntity verified2026-09-23
TickmillTickmill Asia Ltd
Not current authorisation for this brand
Labuan FSA MB/18/0028Corrected — verify2026-09-23
capital-comCapital Com (UK) LimitedFCA 793714Verified on register2026-09-09
capital-comCapital Com Australia Pty LtdASIC 513393Verified on register2026-09-23
capital-comCapital Com SV Investments LtdCySEC 319/17Verified on register2026-08-30
capital-comCapital Com Group LtdCySEC 463/25Verified on register2026-08-30
capital-comCapital Com Online Investments LtdSCB no number published by this registerEntity verified2026-09-23
capital-comCapital Com Stock and CFD Investing LtdFSA SD101Corrected — verify2026-09-23
bybitBybit
Not current authorisation for this brand
VARA provisionalPending — verify2026-09-23
okxOKX Middle East Fintech FZEVARA VL/23/12/003Verified on register2026-06-19
EightcapEightcap Pty LtdASIC 391441Verified on register2026-09-15
EightcapEightcap Group LtdFCA 921296Verified on register2026-09-09
EightcapEightcap EU LtdCySEC 246/14Verified on register2026-06-19
EightcapEightcap Global LimitedSCB no number published by this registerEntity verified2026-09-23
Fusion MarketsFusion Markets EU LtdCySEC 444/24Verified on register2026-08-12
Fusion MarketsGleneagle Securities Pty LimitedVFSC 40256Verified on register2026-08-12
Fusion MarketsFMGP Trading Group Pty LtdASIC 385620Verified on register2026-09-15
Fusion MarketsFusion Markets International LtdFSA no number published by this registerEntity verified2026-09-23
AxiAxiCorp Financial Services Pty LtdASIC 318232Verified on register2026-08-22
AxiAxi Financial Services (UK) LimitedFCA 466201Verified on register2026-09-09
AxiSolaris EMEA LimitedCySEC 433/23Verified on register2026-08-18
AxiAxiCorp Financial Services Pty Ltd (DIFC Branch)DFSA F003742Verified on register2026-09-23
AxiAxiTrader LLCFSA 4303 LLC 2025Verified on register2026-08-17

Register links open the official regulator register entry we checked. Corrections are logged publicly in our corrections log. A licence can change after our check date — always confirm on the official register before depositing.

This page is educational and not financial or legal advice. Regulation reduces certain risks; it never makes trading safe. Always confirm a broker's current licensing on the regulator's official register before you deposit.