How to verify a forex broker before sending money
Start with the legal entity and regulator—not the logo, influencer or platform name. A genuine brand can still serve different countries through different companies, and fraudulent clone sites can copy a real firm's name or licence number.
The eight-step verification workflow
Open the provider's client agreement, legal disclosure or account-opening terms. Write down the exact company name that would contract with you.
Search the regulator or official register. Match the company name, registration/licence number, status and—where available—the official website or contact details.
A company can hold a financial licence without having permission for every product or client type. Confirm the activity relevant to leveraged FX/CFDs or the service you want.
Fraudsters can copy a real firm's name and registration number. Reach the provider from the regulator record or another independently verified source rather than a social-media message.
Do not assume a global group can serve every resident through the same entity. Check your country, client category and account agreement.
Check accepted payment methods, account currency, withdrawal process, fees and whether withdrawals must return to the original funding method.
Regulation does not eliminate market losses or business failure. Understand the protections and their limits for the exact entity.
Status, websites and account terms can change. Repeat the key checks immediately before funding a new account.
Why registration matters
The U.S. CFTC advises retail forex customers to verify dealer registration and disciplinary history and warns that many fraud complaints involve unregistered offshore dealers. It also notes that retail OTC forex is generally a dealer relationship rather than trading on an open exchange.
Clone-firm warning
A registration number printed in a website footer is not enough. The UK FCA specifically warns consumers to check the authorised firm and its contact details because clone firms can impersonate legitimate firms.
ESTVELO country research
Use the country directory to start from the jurisdiction relevant to you. ESTVELO publishes detailed country pages only when the entity and official source are strong enough to support the claims.
Never send extra money to “unlock” a withdrawal, pay an unexpected tax to an unknown intermediary or share remote-access credentials with someone who approached you online.
Research essentials
Use ESTVELO as a research workspace: verify the source, check the jurisdiction, understand the assumptions and separate market information from a personal trading decision.