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Page 6 · LicencesWednesday 7 October 2026

Licences

Checking a broker is licensed, one step at a time

Search the business on ASIC’s Professional Registers Search, then make sure the name, licence number and website on the register match the business you are actually dealing with. Moneysmart warns that scammers borrow real licence numbers and impersonate licensed firms, so the match matters as much as the search.

General information, not financial advice. A licence tells you a business is regulated, not that an investment is right for you. Moneysmart’s Check before you invest is the official checklist.

In Australia, companies or people offering investments must have an Australian financial services (AFS) licence, or be authorised by someone who does. The licence controls what kinds of financial products they can sell and gives investors better protection if things go wrong. It does not mean ASIC endorses the business, its products or its advice, and it does not guarantee an investment is safe.

The checks below take a few minutes. They follow Moneysmart’s guidance and ASIC’s description of its own registers.

The checks

  1. Find the details yourself. Moneysmart advises against relying on contact details, links or phone numbers given in an investment offer, text message, email, social media post or online advertisement. Search for the business independently.
  2. Search ASIC’s Professional Registers Search. You can search by individual or company name, by registration or licence number, or by ACN or ABN. Choose the register for Australian financial services licensees, or for authorised representatives if the business says it acts for a licensee. ASIC’s Professional Registers Search.
  3. Match the name, number and website. Check that the licence holder’s name and number match the business or offer being promoted. If the register lists a website, check it matches the one you have been using.
  4. Read the status and conditions. Most register information is free, including the start date and status of the licence, AFS licensee website addresses and any conditions on the licence. ASIC processes changes to the registers once a day and shows when they were last updated.
  5. Check what they are licensed to do. ASIC suggests using the registers to check the services a professional is licensed to provide.
  6. Look for bans. Search ASIC Connect’s Banned and Disqualified register to see whether a person has been banned from giving financial advice or managing a company.
  7. Check the Investor Alert List. Moneysmart keeps a list of suspicious companies, businesses and websites that may be unlicensed or impersonating a real company or licensee. Moneysmart’s Investor Alert List.
  8. Check the complaints scheme. Moneysmart suggests checking that the provider is listed on AFCA’s financial firm directory.

Registered is not the same as licensed

A company can be registered with ASIC without being licensed to provide financial services. ASIC Connect confirms that a company is registered; to know whether it is licensed or authorised, Moneysmart’s advice is to check the Professional Registers Search. A business that says it is “registered” or “certified” by ASIC, and points you to ASIC Connect, has not answered the licence question.

If the person is a financial adviser

People who give personal advice on investments, superannuation and life insurance appear on Moneysmart’s financial advisers register. It shows where an adviser has worked, their qualifications and training, professional memberships and what products they can advise on. The information is provided by advice businesses, and ASIC does not check it before it goes on the register. Advisers who were banned, disqualified or entered into an enforceable undertaking before 31 March 2015, and have not returned to the industry, are not on it; they are on ASIC’s Banned or Disqualified Register or its Enforceable Undertakings Register.

Platforms that are not what they seem

Moneysmart describes investment scams that build an entire online world to look real: fake advertisements, fake reviews, fake comparison websites, fake investment platforms, fake news articles, fake celebrity endorsements and deepfake videos. Once someone hands over their details, scammers may follow up with scripted phone calls, a fake platform and even small profit payments to build trust. A professional website, good reviews or a social media advertisement do not make an investment genuine.

The scale is large. According to the National Anti-Scam Centre, Australians reported losing more than $837 million to investment scams in 2025. In the 2025/26 financial year, ASIC removed more than 19,400 online scams, up 182% on the previous year.

Moneysmart’s red flags

Be wary if the person or company offering the investment:

  • does not have an AFS licence, or says it doesn’t need one;
  • keeps contacting you and pressures you to decide quickly;
  • uses the name of a reputable organisation to gain credibility;
  • has an investment prospectus that isn’t registered with ASIC;
  • offers very high returns.

Overseas platforms

For CFDs in particular, Moneysmart notes that overseas providers often do not hold an AFS licence, so Australian consumer protections do not apply and you cannot take a dispute to AFCA. Its advice is to check the register first and not to deal with an unlicensed provider. More broadly, investments not offered by licensed Australian providers are among those ASIC does not regulate, and you are not protected if things go wrong.

If something goes wrong

If you have a problem with a financial product or service from a licensed business, you can complain to the business, which is obliged to see whether it can resolve it. If you think you have been scammed, Moneysmart says to act fast and sets out the steps on what to do if you’ve been scammed. Scamwatch has more on current scams.