IC Markets
Last updated
This guide is general information, not legal or financial advice. Registers and rules change, so always confirm on the regulator's live site before you deposit. CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage.
How to check a forex broker's licence in six steps
- Find the exact company
Scroll to the footer of the broker's site or open its client agreement. Note the legal company name, the regulator and the licence number. Brands run several companies, and the one named on your agreement is the one that protects you.
- Open the register yourself
Type the regulator's address into your browser or use the links in the table below. Never trust a register link sent by the broker or a salesperson: scammers build cloned registers that look real.
- Search by licence number first
A name search can return look-alike firms. Searching the number shows one record, which you can then compare with the broker's details.
- Match every detail
Status should read authorised or licensed, not expired or revoked. The company name, address and phone number must match. Many registers also list approved web addresses, and the site you use has to be one of them.
- Check the permissions
Some firms hold a licence for something unrelated, such as payments or fund management. Make sure dealing in forex or CFDs is listed.
- Look for warnings
Search the broker's name on the regulator's warning list and on our scam broker blacklist. A real licence in one country does not stop a warning in another.
- Name matches the company on your client agreement, not just the brand.
- Number matches the one printed in the broker's footer.
- Status reads authorised or licensed, never expired, revoked or cancelled.
- Permissions include dealing in forex or CFDs, not only payments or advice.
- Website is the exact address you are using; a different address means a clone.
Not sure the broker can serve your country at all? See is forex trading legal where you live.
Official register links for 18 forex regulators
Each link opens the regulator's own search page. Bookmark the ones you need, and remember that a register on any other domain is not the real one.
| Regulator | Level | What to search | Good to know |
|---|---|---|---|
 FCA registerFinancial Conduct Authority, United Kingdom | Top tier | Firm reference number (FRN) or firm name | Retail leverage capped at 30:1 on majors. The FSCS can pay up to £85,000 if a firm fails. |
 ASIC registerAustralian Securities and Investments Commission, Australia | Top tier | AFS licence number or company name | Retail leverage capped at 30:1. No compensation fund, so a collapse puts you in the creditor queue. |
 NFA / CFTC registerNational Futures Association, United States | Top tier | NFA ID or firm name in BASIC | Only CFTC-registered NFA members may serve US residents. BASIC also shows disciplinary history. |
 CySEC registerCyprus Securities and Exchange Commission, Cyprus (EU) | Strong | CIF licence number, then the list of approved websites | EU rules apply: 30:1 retail cap and an investor compensation fund of up to €20,000. |
 Central Bank of Ireland registerCentral Bank of Ireland, Ireland (EU) | Strong | Firm name or reference number | EU rules apply, including the 30:1 retail leverage cap. |
 BaFin registerFederal Financial Supervisory Authority, Germany (EU) | Top tier | Company name in the database of companies | Also lists EU firms that passport their services into Germany. |
 FINMA registerSwiss Financial Market Supervisory Authority, Switzerland | Top tier | Institution name in the list of authorised firms | Strict licensing means only a small number of authorised forex providers. |
 MAS registerMonetary Authority of Singapore, Singapore | Top tier | Institution name in the Financial Institutions Directory | Brokers need a Capital Markets Services licence; retail leverage on majors is capped at 20:1. |
 SFC registerSecurities and Futures Commission, Hong Kong | Top tier | CE number or firm name; look for a Type 3 licence | Leveraged forex needs a Type 3 licence, with retail leverage capped at 20:1. |
 JFSA registerFinancial Services Agency, Japan | Top tier | Registered financial instruments business operators | Leverage capped at 25x. Overseas brokers may not solicit Japanese residents. |
 FMA / FSPR registerFinancial Service Providers Register, New Zealand | Top tier | FSP number or name; check the licensed services | Registration alone is not a licence or an endorsement. Check which services the firm is licensed for. |
 DFSA registerDubai Financial Services Authority, UAE (DIFC) | Strong | Firm name or reference number (starts with F) | Covers firms inside the DIFC only. The DFSA warns that any register on a domain other than dfsa.ae is fake. |
 FSCA registerFinancial Sector Conduct Authority, South Africa | Strong | FSP number; CFD brokers also need an ODP licence | A genuine licence with a category built for CFD brokers. No leverage cap and no compensation fund. |
 CMA registerCapital Markets Authority, Kenya | Strong | Firm name in the list of licensed online forex brokers | One of very few African regulators with a licence written for online forex brokers. |
 FSC registerFinancial Services Commission, Mauritius | Offshore | Licence number or company name in the register of licensees | The most credible offshore licence. Capital rules are real, but there is no compensation scheme. |
 FSA registerFinancial Services Authority, Seychelles | Offshore | Securities dealer licence number or company name | A genuine dealer licence with light day-to-day supervision. Common behind the offshore arms of large brokers. |
 VFSC registerVanuatu Financial Services Commission, Vanuatu | Offshore | Company name among licensed dealers in securities | A real dealer licence, but modest capital rules and no leverage cap. |
 FSC registerFinancial Services Commission, Belize | Offshore | Company name in the list of licensees | Long-standing offshore licence, cheap and quick, thin on ongoing supervision. |
Not a forex licence: St Vincent and the Grenadines and Saint Lucia register companies but do not supervise forex trading. Comoros (Anjouan) licences are cheap and several top-tier regulators have warned about firms using them.
What each licence protects
A licence is only as useful as the protection behind it. Leverage caps, client-money rules and compensation funds differ sharply between regulators, which is why the level of a licence matters as much as its existence.
| Regulator | Retail leverage cap | Compensation fund | Client money kept separate | Negative balance protection | Free complaints service |
|---|---|---|---|---|---|
| FCA | 30:1 | £85,000 | Yes | Yes | Yes |
| ASIC | 30:1 | None | Yes | Yes | Yes |
| NFA / CFTC | 50:1 | None | Yes | Yes | Yes |
| CySEC | 30:1 | €20,000 | Yes | Yes | Yes |
| Central Bank of Ireland | 30:1 | €20,000 | Yes | Yes | Yes |
| BaFin | 30:1 | €20,000 | Yes | Yes | Yes |
| FINMA | No fixed cap | CHF 100,000 | Yes | Yes | Yes |
| MAS | 20:1 | None | Yes | Yes | Yes |
| SFC | Near 20:1 | Not for OTC forex | Yes | Yes | Yes |
| JFSA | 25:1 | None for FX | Yes | Yes | Yes |
| FMA / FSPR | No fixed cap | None | Yes | Yes | Yes |
| DFSA | No fixed cap | None | Yes | Yes | Yes |
| FSCA | No cap | None | Yes | No | Yes |
| CMA | Set per firm | None | Yes | No | Yes |
| FSC | No cap | None | Yes | No | No |
| FSA | No cap | None | Yes | No | No |
| VFSC | No cap | None | Yes | No | No |
| FSC | No cap | None | Yes | No | No |
Leverage caps apply to retail clients of that regulator's companies only. A broker's offshore arm can offer far more. Details per regulator: forex regulators explained.
Where the brokers we review are licensed
The regulators each broker lists across its group, from our comparison data checked 11 October 2026. The company you join may hold only one of them, so check your client agreement.
| Broker | Stronger licences | Other licences |
|---|---|---|
| XM | CySEC, DFSA | FSC Belize, FSA Seychelles, FSC Mauritius |
| Exness | FCA (no retail clients), CySEC (no retail clients) | FSA Seychelles, FSCA, CMA Kenya |
| AvaTrade | Central Bank of Ireland, ASIC, CySEC, Japan FSA, FSRA (ADGM), ISA | FSCA, BVI FSC, CMA Kenya |
| RoboForex | None | FSC Belize |
| IC Markets | ASIC, CySEC | FSA Seychelles, SCB Bahamas, CMA Kenya |
| LiteFinance | CySEC | FSC Mauritius, SVG registration |
| IUX | None | FSC Mauritius, SVG registration |
| FP Markets | ASIC, CySEC | FSCA, CMA Kenya, FSA Seychelles, Saint Lucia registration |
| Elev8 | None | FSC Mauritius, FSA Seychelles, MISA Comoros |
| Tickmill | FCA, CySEC | FSCA, FSA Seychelles |
| Vantage | ASIC | FSCA, VFSC |
| Fusion Markets | ASIC | FSA Seychelles, VFSC |
| FXTM | None | FSC Mauritius, FSCA, CMA Kenya |
Red flags that mean walk away
A real broker prints its company name and licence number. Vague wording such as "regulated in Europe" is a warning on its own.
Same name, different website or phone number on the register usually means a clone firm.
Calls promising fixed returns, or an "account manager" who trades for you, are classic scam tactics.
An SVG or Saint Lucia certificate is a company registration, not permission to deal in forex.
Already lost money? Our scam broker guide covers what to do next.
Free PDF: forex broker licence checklist
Everything on this page in a two-page PDF you can print or keep on your phone: the six steps, every register link and the red flags. No email needed.
Teachers, communities and bloggers are welcome to share it or link to this page.
Licence check FAQs
How do I check if a forex broker is regulated?
Find the licence number and company name on the broker's site, then search for them on the regulator's own register, such as the FCA Register, ASIC's registers or the CySEC entity list. The record should be active, and the name, address and website must match.
What is a clone firm?
A scam that copies a real broker's name, licence number or website design. You spot one by checking that the contact details and web address on the register match the site you are using.
Is an offshore licence the same as top-tier regulation?
No. Seychelles, Mauritius, Vanuatu and Belize issue real dealer licences, but supervision is lighter, leverage is not capped and there is usually no compensation fund. Top-tier regulators such as the FCA or ASIC cap retail leverage and enforce client-money rules.
Does St Vincent and the Grenadines regulate forex brokers?
No. The SVG Financial Services Authority registers companies but does not license forex trading. A broker that shows only an SVG registration has no forex licence there.
Which entity will my account be with?
It depends on where you live. Large brokers place clients in different companies by country, so the same brand can give you FCA protection in the UK and a Seychelles licence elsewhere. Your client agreement names the company.
Can I download this guide?
Yes. The free PDF has the six steps and every register link in this guide, and you are welcome to share it.
Sources: FCA Financial Services Register, ASIC registers, CySEC investment firms, NFA BASIC, DFSA public register, Kenya CMA: online forex brokers.