In short
- Search the FCA Financial Services Register by firm name or FRN.
- Status must be "Authorised" with investment permissions.
- The website, email and phone on the register must match the ones you're using.
- Check the FCA Warning List for clones and similar names.
Step 1: Find the FRN
Every FCA-authorised broker shows its legal name and Firm Reference Number (FRN) — usually in the website footer and in the client agreement. For example, Hantec Markets Limited's FRN is 502635. If you can't find an FRN at all, treat that as a warning sign.
Step 2: Search the FCA register
Go to the FCA Financial Services Register by typing the address yourself or searching for it — don't use a link you've been sent. Search by the FRN or the full legal name.
Step 3: Check status and permissions
On the firm's page, check:
- Status: it should say "Authorised". "No longer authorised" or "Unauthorised" means stop.
- Permissions: look for investment permissions such as dealing in investments as principal or agent, and holding client money.
- Restrictions: note any requirements or restrictions the FCA has placed on the firm.
Step 4: Match the contact details
This is the step that catches clone firms. Compare the register's website address, phone number and email domain with the ones you've been dealing with. Fraudsters copy real firms' names and FRNs but use their own websites and phone lines. If anything doesn't match, contact the real firm using the details on the register.
Step 5: Check the FCA Warning List
The FCA publishes a Warning List of firms and individuals it believes are operating without authorisation or running scams. Search the brand name and any similar names.
Step 6: Confirm the entity in your client agreement
Many brokers belong to international groups with offshore companies as well as a UK one. Read the client agreement to confirm the exact company that will open your account is the FCA-authorised one. That's what determines your protections.
What FCA authorisation means for you
| Protection | What it means |
|---|---|
| Client money segregation | Your money is held separately from the broker's own funds |
| Negative balance protection | Retail clients can't lose more than their account balance |
| Leverage limits | Maximum 30:1 on major FX pairs for retail clients |
| Financial Ombudsman Service | Free independent route for unresolved complaints |
| FSCS | Up to £85,000 for eligible claims if the firm fails |
Reading the register entry: what the terms mean
| Register term | What it means for you |
|---|---|
| Authorised | The firm has its own FCA authorisation. This is what you want for a forex or CFD broker. |
| Appointed representative | The business operates under another authorised firm's responsibility (its "principal"). Check who the principal is and that the activity you're using is covered. |
| Registered (only) | Some businesses, such as certain crypto-asset firms, are registered for anti-money-laundering purposes only. Registration is not authorisation to offer CFDs. |
| No longer authorised | The firm has ceased to be authorised. Don't open a new account. |
| Requirements / restrictions | The FCA has limited what the firm can do. Read the details before going further. |
Common tricks to watch for
- Look-alike names: two companies whose names differ by a single word or letter can be completely unrelated. Match the full legal name exactly.
- "Regulated" by the wrong body: membership of a trade association or registration at a company registry isn't financial regulation.
- Group logos: a website may show the logos of several regulators. What matters is which one regulates the entity in your client agreement.
- Fake certificates: scam sites sometimes post images of "licences". Only the regulator's own register counts.
- Cloned email domains: a slightly different domain (an extra letter, a different ending) is a classic clone tactic.
What to do if a firm isn't on the register
- Don't send money, and don't share ID documents or card details.
- Check the FCA Warning List and report the firm to the FCA if it isn't already listed.
- If you've already paid, contact your bank immediately.
- Choose a broker from our list of FCA-authorised firms instead.
Worked example: checking Hantec Markets
Hantec Markets' UK website footer names Hantec Markets Limited and FRN 502635. Searching that FRN on the FCA register should return the firm with status "Authorised"; you'd then confirm that the website address listed matches the one you're on before opening an account. The same five-minute process works for any broker.
Frequently asked questions
What is an FRN?
A Firm Reference Number is the unique number the FCA gives each authorised firm. You'll find it in the footer of a regulated broker's website and you can search for it on the FCA register.
Is 'FCA registered' the same as 'FCA authorised'?
Not always. Some firms are only registered for limited activities (for example, certain payment or crypto services). For CFD and forex trading, you want a firm that is authorised with investment permissions.
What is a clone firm?
A fraudulent business that copies the name, address and FRN of a real authorised firm. The giveaway is usually a website, email or phone number that doesn't match the details on the FCA register.
CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading these products. You should consider whether you understand how they work and whether you can afford to take the high risk of losing your money.