How to check a broker is genuine

A four-minute verification routine you should run before any first deposit.

A firm reference number that does not match the entity taking your money is the single clearest warning sign there is. That single sentence does more work than any amount of marketing language about "regulated and trusted", a phrase which appears on the websites of firms with no UK permissions at all.

The rest of this page is written for the moment it matters: when you are about to deposit, when something has gone wrong, or when a broker's answer does not sound right. Each point below is a rule you can check for yourself against public sources.

Look the firm up on the Financial Services Register by name and by reference number. Confirm the address, the permissions and the trading names listed against it.

In practice this is where the difference between firms shows up. Two brokers can both be authorised and still handle the same situation very differently, because the rule sets a floor rather than a standard. When we score a firm on regulation and safety, we look at how far above that floor it chooses to operate: how clearly it names its entity, how specific its disclosure is, and how it behaves when a client disputes something.

Fraudsters copy the details of authorised firms. Contact the firm using the phone number on the register, never the one in the email or advert that reached you.

In practice this is where the difference between firms shows up. Two brokers can both be authorised and still handle the same situation very differently, because the rule sets a floor rather than a standard. When we score a firm on regulation and safety, we look at how far above that floor it chooses to operate: how clearly it names its entity, how specific its disclosure is, and how it behaves when a client disputes something.

Deposit a small amount, trade once, then withdraw it all. A firm that makes that difficult has told you everything you need to know for the price of one small trade.

In practice this is where the difference between firms shows up. Two brokers can both be authorised and still handle the same situation very differently, because the rule sets a floor rather than a standard. When we score a firm on regulation and safety, we look at how far above that floor it chooses to operate: how clearly it names its entity, how specific its disclosure is, and how it behaves when a client disputes something.

Bonus deadlines, account managers placing trades for you, and requests to install remote access software are not features of a regulated brokerage.

In practice this is where the difference between firms shows up. Two brokers can both be authorised and still handle the same situation very differently, because the rule sets a floor rather than a standard. When we score a firm on regulation and safety, we look at how far above that floor it chooses to operate: how clearly it names its entity, how specific its disclosure is, and how it behaves when a client disputes something.