To verify a forex broker, find the exact legal entity name on the broker's site that serves your country, then search that name on the relevant regulator's public register (for offshore brokers in Asia that usually means the FCA, CySEC or ASIC). Confirm the licence number, status and permitted activities match — a real licence held by a different entity does not cover you. In Asia, also remember that local regulators like Bappebti or the SC publish warning lists, and a name on those means 'not licensed locally', not automatically 'scam'.
Why verifying a broker's licence matters
A broker's regulatory licence is the single most important safety signal there is — it determines whether your funds are held under client-money rules, whether there is a compensation scheme, and whether the firm is supervised at all. Marketing pages routinely display impressive-looking badges; only the regulator's own register tells you which are real and which entity actually holds them.
The trap that catches most retail traders is that a large broker group holds several licences across different countries through different legal entities — and the entity that signs up a resident of, say, Indonesia or the Philippines is frequently not the one holding the strictest, best-protected licence. Verifying means checking the specific entity that will hold your account, not just the brand.
Search the entity on the regulator's own register
Go directly to the regulator's official website — never a link from an advert or a third-party blog — and use its public register or 'check a firm' search. For offshore brokers serving Asia, that usually means the FCA (UK), CySEC (Cyprus) or ASIC (Australia). Confirm the entity is listed and currently authorised (not lapsed, suspended or withdrawn), that the licence covers the relevant activity, and that the contact details on the register match the broker you are dealing with. A near-match on name is not a match.
Then cross-check against the relevant local warning list. In Indonesia that is Bappebti's ceklegalitas portal; in Malaysia the SC's Investor Alert List; in the Philippines the SEC's advisories. Read these correctly: because these regulators do not license retail spot forex, even well-regulated global brokers can appear, which means 'not authorised here', not necessarily 'fraud'. Use the warning list as a disqualifier and the home-regulator register as the positive proof.
- Confirm the entity is listed and currently authorised on the home regulator's register.
- Confirm the licence covers dealing in CFDs / forex, not an unrelated permission.
- Cross-check the domain, phone and address against the register to rule out a clone firm.
- Check the relevant local warning list (Bappebti, SC, SEC) — and read it correctly.
Frequently asked questions
How do I check if a forex broker is regulated?
Find the exact legal entity name that serves your country on the broker's site, then search that name on the relevant regulator's official public register (for offshore brokers in Asia, usually the FCA, CySEC or ASIC). Confirm it is listed, currently authorised, and permitted for the relevant activity.
What is a clone firm?
A clone firm is a scam that copies the name, licence number and details of a genuinely regulated broker to appear authorised. Cross-check the contact details, domain and address on the regulator's register against the site you are using — if they differ, you may be dealing with a clone.
Bayan FX is an independent publisher comparing forex and CFD brokers for Asia. Our editorial desk verifies every regulatory claim against the regulator's own register, treats Islamic (swap-free) accounts as a first-class question, and never accepts payment for a better review.