Investing Basics

What the FCA register is and why you should check it before you invest a penny

The FCA register lists every authorised UK investment firm. Here's why checking it before you invest a penny could protect everything you put in.

By Ben Walker · May 19, 2026

Before you open a share dealing account, fund a trading app. Or take advice from anyone about your money, there is one 30-second check that could save you everything. Most people never make it.

Reviewed by Sarah Okafor, Editor · May 21, 2026, 21:20

In this article

The Short Version

The Financial Conduct Authority (FCA) is the UK regulator that oversees investment firms, brokers, and financial advisers.
The FCA register is a public database of every firm and individual authorised to provide financial services in the UK.
If a firm is not on the FCA register, you have no regulatory protection and no right to compensation if something goes wrong.
The Financial Services Compensation Scheme (FSCS) protects eligible investments up to £85,000 per firm, but only if the firm is FCA-authorised.
Checking takes under a minute at register.fca.org.uk.

What is the FCA and what does it actually do?

The Financial Conduct Authority is the UK body responsible for regulating financial services firms and markets. It was created in 2013 when the old Financial Services Authority (FSA) was split into two. The FCA took on consumer protection and market conduct, while the Prudential Regulation Authority (PRA) took on the stability of banks and insurers.

The FCA sets the rules that investment firms, brokers, financial advisers, and platforms must follow. It has the power to investigate firms, impose fines, and shut companies down. Crucially, it maintains a public register of every firm and individual it has authorised to provide regulated financial services.

When you open an investment account, place a trade, or take financial advice, you are almost certainly dealing with a regulated firm. The FCA’s job is to make sure that firm is treating you fairly, holding your money properly, and not misleading you.

What the FCA register actually is

The FCA register (register.fca.org.uk) is the public record of every firm and individual that has been authorised or registered by the FCA. It also records firms that have had their authorisation cancelled or revoked.

Each entry on the FCA register tells you the firm’s full legal name and. Any trading names it uses, its FCA reference number, the specific permissions it holds (for example, “arranging deals in investments” or “advising on investments”), its current status (authorised, cancelled, or withdrawn), and its registered address and contact details.

Being on the register is not a seal of quality. It means the firm has met the FCA’s minimum standards and holds the permissions it needs. It does not mean the firm is well-run or that it will never make mistakes. But being off the register entirely is a serious warning sign that should stop you in your tracks.

How to check the register

Go to register.fca.org.uk and search for the firm by name or its FCA reference number. Cross-reference the firm’s name exactly, including any trading names it uses. Some legitimate firms operate under different names for different products.

Check three things before you proceed. First, that the firm is listed at all. If you cannot find it, stop.

Second, that its status is “Authorised” rather than “Cancelled” or merely “Registered” (some firms. Hold a lower registration status, which limits what they can legally do). Third, that it holds the specific permission you need.

A firm can be FCA-authorised for one activity and completely unregulated for another.

If the firm gives you a reference number, check that the number matches the name. Clone firms, a growing fraud problem, use real FCA reference numbers but attach them to entirely fake companies. The reference number looks legitimate because it is. The company is not.

What the FSCS protects (and what it does not)

The Financial Services Compensation Scheme is the UK’s safety net for customers of authorised firms that fail. If your investment platform collapses and cannot return your assets, the FSCS can step in.

For investment business, the FSCS currently protects eligible claims up to £85,000 per person per firm. This is not insurance against investment losses. If your shares fall in value, the FSCS does not cover that. It covers the situation where the firm itself has failed and your assets have been misappropriated or cannot be returned.

The key word is eligible. Not all investments held with an FCA-authorised firm are FSCS-protected. Foreign exchange products, certain structured products, and investments held through non-FSCS-eligible wrappers may not qualify. The FSCS website (fscs.org.uk) publishes clear guidance on what is and is not covered.

If a firm is not FCA-authorised, the FSCS does not apply at all. There is no safety net and no recourse if the firm disappears with your money.

Unauthorised firms and clone fraud

The FCA publishes a warning list of unauthorised firms that have been brought to its attention. This list is not exhaustive. Many fraudulent operations run for months before the FCA becomes aware of them.

Clone fraud involves criminals copying a legitimate firm’s name, FCA reference number, and branding to create a convincing fake. They approach investors, often cold-calling or through social media adverts, and offer unusually good returns. The FCA reference number they provide is real. The firm is not.

The defence against clone fraud is direct verification. Do not call any number given to you by an unsolicited contact or shown on a website you found via an advert. Find the firm’s contact details on the FCA register itself and call that number. A legitimate firm will not object to this approach.

The crypto question

The FCA’s approach to crypto assets is a live area of regulatory development. Firms that promote crypto assets to UK consumers must be registered with the FCA for crypto asset marketing purposes. This is a lower standard than full FCA authorisation for investment business.

Being registered for crypto asset marketing does not mean a firm is FCA-authorised to provide investment advice or deal in traditional investments. These are different categories, with different protections. The FSCS does not cover crypto assets even where a firm holds FCA registration.

The practical implication: if you are putting money into crypto via any platform, check exactly what that platform’s FCA status covers. Do not assume FSCS protection applies. The FCA register entry will show the specific permissions a firm holds, which makes this straightforward to verify.

A Worked Example

Sarah is considering opening an account with a trading app she has seen advertised on social media. The app’s website displays an FCA logo and quotes a reference number.

She goes to register.fca.org.uk and searches for the firm by name. The firm appears on the register, but the registered address on the FCA entry does not match the address shown on the website. She calls the phone number listed on the FCA register directly rather than any number on the website. The person who answers has never heard of the trading app she saw advertised.

The website is a clone. Had Sarah funded the account, she would have had no regulatory protection and no FSCS recourse. The check took under two minutes and cost nothing.

What This Means For You

Before you open any investment account, check the FCA register. Before you move money to a new platform, check the FCA register. Before you engage with a financial adviser, check both their firm’s authorisation and their individual reference number.

This is not a bureaucratic formality. It is the single most reliable way to confirm you are dealing with a. Firm that is legally required to look after your money and that gives you access to the FSCS safety net if the worst happens. Spending two minutes on this before every new financial relationship is one of the most practical habits a new investor can build.

In Plain English

The FCA register is the UK government’s public list of firms and individuals legally authorised to offer investment services. If a firm is not on it, nothing you are promised is legally enforceable and you have no compensation rights if things go wrong. Checking is free, takes two minutes, and should be the first thing you do before you invest a penny anywhere new.