Europe
| Country | Regulator | Where to check |
|---|---|---|
| United Kingdom | Financial Conduct Authority (FCA) | Financial Services Register |
| Cyprus | Cyprus Securities and Exchange Commission (CySEC) | Regulated entities lists on cysec.gov.cy |
| Germany | BaFin | BaFin company database |
| France | Autorité des marchés financiers (AMF) | REGAFI and AMF lists |
| Ireland | Central Bank of Ireland | Central Bank registers |
| Netherlands | Autoriteit Financiële Markten (AFM) | AFM public register |
| Spain | CNMV | CNMV registered entities |
| Italy | CONSOB | CONSOB registers |
| Switzerland | FINMA | List of authorised institutions |
EU firms can "passport" their licence to other EU countries. A CySEC-licensed broker may legally serve clients in Spain, for example, but check that the passport covers the service and country.
Americas
| Country | Regulator | Where to check |
|---|---|---|
| United States | CFTC and National Futures Association (NFA) | NFA BASIC |
| Canada | Canadian Investment Regulatory Organization (CIRO) and provincial securities regulators | CIRO dealer directory; national registration search |
US retail forex brokers must be registered as forex dealers with the CFTC and be NFA members. CFDs can't be offered to US retail clients.
Asia-Pacific
| Country | Regulator | Where to check |
|---|---|---|
| Australia | Australian Securities and Investments Commission (ASIC) | ASIC professional register (AFS licensees) |
| New Zealand | Financial Markets Authority (FMA) | FMA licensed providers; Financial Service Providers Register |
| Singapore | Monetary Authority of Singapore (MAS) | Financial Institutions Directory |
| Hong Kong | Securities and Futures Commission (SFC) | Public register of licensed persons |
| Japan | Financial Services Agency (JFSA) | List of registered financial instruments business operators |
| India | RBI and SEBI | RBI Alert List of unauthorised platforms; SEBI intermediary search |
India has strict rules on forex trading by residents. See our guide to forex IB rules in India.
Middle East and Africa
| Country | Regulator | Where to check |
|---|---|---|
| UAE (DIFC) | Dubai Financial Services Authority (DFSA) | DFSA public register |
| UAE (onshore) | Securities and Commodities Authority (SCA) | SCA licensed companies |
| UAE (ADGM) | Financial Services Regulatory Authority (FSRA) | FSRA public register |
| South Africa | Financial Sector Conduct Authority (FSCA) | FSP search |
| Kenya | Capital Markets Authority (CMA) | CMA licensees list |
Offshore regulators
Many brokers serving international clients hold licences from offshore regulators such as the Seychelles FSA, the Mauritius FSC or the Vanuatu FSC. These licences are real and can be checked on each regulator's register, but rules on capital, client money and compensation are usually lighter than in the UK, EU or Australia.
- Check which entity your clients would actually join. Many groups onboard international clients through their offshore entity, even if the brand also has an FCA or ASIC licence.
- Be cautious with registrations that are not licences. For example, the St Vincent and the Grenadines FSA has stated that it does not regulate or license forex trading, so a company registered there is not "regulated" for forex.
Red flags when checking a licence
- The register's website domain or contact details differ from the broker's.
- The regulator has issued a warning about a "clone" firm using a real firm's name.
- The licence covers a different service, such as payment services only.
- The broker names a regulator but gives no licence number.
Every broker on IB2broker has its licence numbers checked on these public registers before going live. Learn how IB2broker works.
Frequently asked questions
Which forex regulators are the strictest?
Regulators such as the FCA (UK), ASIC (Australia), the NFA and CFTC (US), FINMA (Switzerland) and MAS (Singapore) are generally regarded as strict, with high capital and client-money rules.
Is an offshore-regulated broker safe?
An offshore licence is better than none, but protections are usually weaker. Check the entity, how client money is held and whether any compensation scheme applies.
How do I check a broker's licence number?
Search the regulator's own register for the company name or licence number, then confirm the name, address and website match the broker.
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