Is Your Broker Safe?
Search any broker to instantly verify their regulation status, trust score, and safety record. Protect your capital from scam brokers before investing a single dollar.
XM
IC Markets
Red Flags to Watch Out For
If your broker shows any of these warning signs, stop trading immediately and seek advice.
How to Verify a Broker in 4 Steps
Follow this checklist before depositing any funds with a new broker.
Check Regulation
Legitimate brokers are regulated by top-tier authorities like FCA, ASIC, SEC, or CySEC. Verify the license number directly on the regulator's official website.
Verify Track Record
Look for brokers with a long operating history and no major regulatory fines or sanctions. Established brokers typically have 5+ years of clean records.
Avoid Guarantees
No legitimate broker promises guaranteed returns or "risk-free" trading. If any offer sounds too good to be true, it almost certainly is a scam.
Test Withdrawals
Start with the minimum deposit and test the withdrawal process before committing larger capital. Scam brokers routinely block or delay withdrawals.
Frequently Asked Questions
Common questions about broker safety and scam prevention.
Check your broker's website for regulatory license numbers, then verify those numbers directly on the regulator's official website (e.g. FCA Register, ASIC Register, CySEC). Legitimate brokers always display this information prominently.
Key red flags include: guaranteed returns or profits, pressure to deposit more money, difficulty withdrawing funds, no verifiable regulation, unlicensed cold-calling, and platforms not available on official app stores.
Stop all further deposits immediately. Document all communications and transactions. Report the broker to your country's financial regulator. Contact your bank about a chargeback if you paid by card. Consider consulting a financial fraud recovery specialist.
Not necessarily, but offshore brokers carry higher risk since they operate under lighter regulation. Many offer high leverage or accept clients from restricted regions. Always verify the specific regulator and what investor protections apply to your situation.