VERIFICATION GUIDE
How to verify a forex broker’s legal entity and licence
A source-linked checklist for matching the agreement, regulator record, website, permissions and account role before funding.
FXVeritas research • primary sources • limitations kept visible
Content revision: · Editorial review:
What the evidence says
Start with the exact company in the proposed account agreement, not the brand logo. Match its official regulator record, permitted service and contact details. Then check whether that company is your intermediary or product counterparty. The FCA’s checker and clone-firm guidance explain the first checks; Exness South Africa provides a concrete example of different companies performing different roles.
Official source: FCA — Firm Checker · FCA — Clone firms and individuals · Exness South Africa — Legal documentsThis checklist is our research workflow. Completing it is not a guarantee of safety, regulatory approval of your account or freedom from trading losses.
1. Capture the actual agreement
Use your real residence and the intended product when examining the broker’s application. Save the proposed agreement’s legal name, document version and website. Do not complete funding just to obtain evidence. A global legal page is a useful starting point, but a group can disclose multiple companies, as Exness does, without making each one your contracting entity.
Official source: Exness — Regulation2. Match the official record and activity
Search the authority’s own register or firm checker for the name and reference number. Check the category and service, not only the existence of an entry. The FCA expressly separates these questions. If only a broker’s own claim can be found, keep that evidence level visible and leave independent regulatory verification unconfirmed.
Official source: FCA — Firm Checker3. Compare domains and contacts
A copied reference number does not prove that a website belongs to the listed company. The FCA describes clone firms that reuse names, addresses and numbers. Compare the official contact details with the domain, email and phone you were given, and investigate mismatches through an independently obtained official contact.
Official source: FCA — Clone firms and individuals4. Separate introduction from product liability
Record who introduces or arranges the service and who supplies the product. Exness ZA’s disclosure names ZA as intermediary and SC as product supplier and account-registration entity. It also attributes different regulatory roles to those companies. Do not merge their numbers into a single “regulated account” label.
Official source: Exness South Africa — Legal documents5. Keep unknowns and a correction trail
Our suggested record contains the source URL, exact section, consultation date, legal entity, service scope and unresolved question. A later source may narrow or contradict an earlier claim. Preserve the earlier observation and explain the change instead of silently promoting an unknown to a yes. A research date is not the same thing as the regulator’s effective date.
Questions before opening an account
Is a licence number enough to verify a broker website?
No. The FCA’s clone-firm guidance specifically describes copied reference numbers. Match the company, permitted activity and independently sourced contact details.
Official source: FCA — Clone firms and individuals · FCA — Firm CheckerOfficial source
A consultation date records our review of the cited material, not continuous monitoring or a fresh approval of your account.
- ASIC Moneysmart — Contracts for differenceRegulator / public authoritySources consulted:
- FCA — Firm CheckerRegulator / public authoritySources consulted:
- FCA — Clone firms and individualsRegulator / public authoritySources consulted:
- Exness South Africa — Legal documentsBroker’s own disclosureSources consulted:
- Exness — RegulationBroker’s own disclosureSources consulted: