How to check a broker is regulated
Five checks to make before you send money to any broker, and how to check BBCorp’s licence.
Bilal Hatab5 min read
Before you send money to any broker, check that it is licensed and that the licence covers the company you are actually dealing with. It takes a few minutes and can save you a lot.
1. Find the licence number
A regulated broker shows its regulator and licence number on its website, usually in the footer or on a regulation page. If you cannot find them, treat that as a warning.
2. Check the regulator’s own register
Do not rely on the broker’s word alone. Look the company up on the regulator’s official website and confirm that the name and licence number match.
3. Match the company name
Make sure the company on the licence is the one named in your client agreement. Some groups have several companies, and only some of them may be licensed.
4. Read how your money is handled
Read the client agreement and the risk disclosure. They explain which company holds your account and how deposits and withdrawals work.
5. Watch for red flags
- Promises of guaranteed or very high returns.
- Pressure to deposit quickly, or to deposit more to unlock a withdrawal.
- Contact only through social media, with no website or company details.
- No clear way to withdraw your money.
How to check BBCorp
Beirut Brokerage Corporation SAL (BBCorp SAL) is licensed by Lebanon’s Capital Markets Authority under licence no. 8, for dealing, arranging and advising, and appears on the Capital Markets Authority’s list of approved institutions. BBCorp has served traders since 2004.
Every licence, its regulator, its number and the company that holds it are listed on Regulation & licences. The legal documents are in Legal.