Does an FCA licence protect me automatically?

Only if you are a client of the FCA-authorised entity. Offshore entities of the same brand fall outside FCA rules and FSCS.

What is a firm reference number?

A unique number the FCA assigns each authorised firm. Use it to search the Financial Services Register and confirm the firm is genuine.

How to Check if a Broker Is FCA Regulated (Step by Step)

How to check if a broker is FCA regulated: search the Financial Services Register, match the legal entity and firm reference number, spot clone firms, and confirm FSCS cover.

A broker "regulated" somewhere is not the same as a broker regulated for you. Here is how to verify it in a few minutes.

1. Find the legal entity name

Scroll to the footer of the broker's UK site. You are looking for something like "X Ltd is authorised and regulated by the Financial Conduct Authority, firm reference number 123456". The brand name and the legal entity are often different.

2. Search the FCA Financial Services Register

Search that entity and firm reference number on the FCA Financial Services Register. Confirm:

Status is Authorised (not "Registered", "Appointed representative only", or "No longer authorised")
The permissions include dealing in investments as principal or agent
The website address listed on the Register matches the site you are on

3. Watch for clone firms

Clone firms copy a genuine firm's reference number and details. Always use the contact details shown on the Register, never those on the website you are checking, and see the FCA warning list.

4. Check which entity you are onboarded to

This is the step most traders skip. A broker can hold an FCA licence and still sign you up to an offshore entity for higher leverage. Read the client agreement at sign-up: if the counterparty is a Seychelles, Vanuatu or Cayman entity, FCA rules and FSCS do not apply. Read what negative balance protection means.

5. Confirm FSCS eligibility

Eligible clients of an FCA-authorised firm are covered up to £85,000 if the firm fails. Offshore entities and, in many cases, elective professional clients are not.

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Risk disclosure

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This page is general information, not financial advice. Broker links may be affiliate links.