The check that takes two minutes and is almost never done
Lesson 6.1.1 explained what a broker is: a counterparty with its own commercial interests. This lesson is the practical follow-on — how to check whether a *specific* broker is what it claims.
The licence number is a claim until you check it
Nearly every broker prints a regulator and a licence number in its footer. That is a claim, and claims are free.
Look it up on the regulator's own register, not on the broker's site:
| Regulator | Register |
|---|---|
| FCA (UK) | register.fca.org.uk |
| ASIC (Australia) | connectonline.asic.gov.au |
| CySEC (Cyprus) | cysec.gov.cy |
| FSCA (South Africa) | fsca.co.za |
Three things to confirm, not one:
- The number exists and is active, not lapsed or withdrawn.
- The name matches exactly. "Broker Ltd" and "Broker Global Ltd" are different companies, and the second one holding no licence while the first does is a known arrangement rather than a coincidence.