Research Guides

Check a broker’s legal entity

1. Find the full legal company name in the account agreement, not only the brand name in the header.
2. Use the relevant regulator’s own register. Match the company, website and contact information and check the permissions for the service you are considering.
3. Read the account-specific documents: execution, client money, complaints, funding and withdrawal terms.
4. Record the jurisdiction, source URL and date of your check. A group licence does not automatically describe every company using the brand.

For UK-related checks, start with the FCA’s official guidance. Requirements and protections differ between jurisdictions.

Read a prop-firm rulebook

Create a one-page record of the exact programme. Include its fee, evaluation stages, profit objective, daily loss calculation, maximum loss calculation, reset time and restricted practices.

Check whether the trading environment is simulated, what an advertised account size represents, and what agreement governs rewards. Ask for written clarification when examples and contract wording appear inconsistent.

Do not assume that a promotional payout screenshot verifies the experience of every trader. Separate a provider’s claim from independent evidence.

Calculate the complete cost

For a broker comparison, record the same instrument, trade size and holding period. Include spread, commission, overnight charges and currency conversion where applicable. For a programme or tool, include initial fees, recurring subscriptions, data packages and cancellation or refund conditions.

Use the actual account’s current terms. Minimum advertised costs are not a forecast of what every trade will cost.