Checking a broker in the local register
This lesson shows where the register is, what to type into it, and how to read the answer. A deposit of ₱10,000 sent by GCash to an unlicensed firm is not a trading loss. It is simply gone.
Where the register sits and what it holds
Open the SEC Philippines website and look for the section that lists registered firms. The register is a public list. It shows the name of each firm, the date it was registered, and the activities its registration covers. You do not need an account to read it. You do not pay a fee. The list is updated by the commission, not by the firms on it.
The register is not a quality score. A firm can be listed and still be a poor choice. The list only answers one question: does this firm hold a registration that covers the product you were offered. If the answer is no, the register cannot help you recover money. If the answer is yes, the registration still does not promise a profit. It means the firm met the rules for that activity on the day it was registered.
The register also changes. A firm can be added, removed, or have its activities narrowed. The entry you read today may not be the entry that exists next month. For that reason, always note the date you checked. A screenshot from last year is not evidence of anything today. The only entry that matters is the one you read on the day you decide to send money.
What to type and what the answer can look like
Type the exact firm name as it appears on the page where you were offered the product. Do not type a shortened name, a brand name, or a name from an app store. If the firm trades under a different name, type that name as well. The register matches text, so a single wrong letter can return no result. If no result appears, try the company registration number if you have it. If you still find nothing, treat the firm as unregistered.
A result can take four shapes. First, the firm is not found. Second, the firm is found but the entry covers a different activity, such as lending or remittance. Third, the firm is found and the entry covers the activity you were offered. Fourth, the firm is found but the entry is suspended or revoked. Only the third shape means the registration covers the product. The other three mean the same thing for your money: no rule protects it.
The entry may name a product in general terms. Read the exact wording. If the entry says the firm may deal in securities, that does not automatically cover leveraged foreign exchange. If the entry says the firm may act as a broker in foreign exchange, read whether it says leveraged or spot. When the wording is unclear, do not guess. Ask the commission directly, or treat the registration as not covering the product. The safe reading is always the narrow one.
Matching the licence to the product on the chart
Look at the chart on your screen. The product has a name: EUR/USD, a pair. The offer may call it forex, FX, or CFD. These are not the same in every register. A licence for one may not cover another. Write down the exact product name from the offer. Then read the register entry and ask whether that exact name, or a close equivalent, appears. If it does not, the licence does not cover what you were offered.
A licence also has a scope. It may cover dealing for retail clients, or only for professional clients. It may cover advice but not execution. It may cover execution but not hold client money. The register entry usually states these limits. If your offer involves the firm holding your deposit, and the entry does not mention holding client money, then that part is outside the licence. The licence protects the part it names, and nothing else.
The date matters for a second reason. A firm can be registered on the day you check, and its registration can lapse the next week. If you send money on the strength of a check from last month, you are relying on an old fact. Check on the day you send. Save the page or note the date. If the firm later says it was licensed, you can show what the register said when you looked.
Checking one licence entry on 12 March 2025
| Step | Amount | Note |
|---|---|---|
| Date of the check | 12 March 2025 | the register changes, so the date is part of the record |
| What you type into the search box | the exact firm name from the website footer | copy it, do not retype it from memory |
| What the entry shows | a registration type that does not mention derivatives or leveraged foreign exchange | the licence covers something other than what you were offered |
| Deposit you were about to send | ₱10,000 | sent by GCash or bank transfer, both hard to reverse |
| Value of one pip on one standard lot of EUR/USD at 1.0850 | ₱651.00 | 100,000 x 0.0001 = 10 units of the quote currency, converted at 65.10 PHP per unit |
The broker may round the exchange rate it uses, add a conversion charge, or quote a spread on top of the pip value, so the peso figure you see on a statement can differ from the one calculated here.
Doing it once, step by step
You will open the SEC Philippines register, search the exact firm name, and read the entry against the product you were offered. Do this once, in order, before you send any money.
- 01
Open the register on the commission's own site
Go to the SEC Philippines website and find the public list of registered firms. Do not use a link from the firm's page or from a chat message. Type the address yourself. The register is free to read and needs no login.
- 02
Type the exact firm name from the offer
Copy the firm name exactly as it appears on the page where you were offered the product. Paste it into the search box. If nothing appears, try the company registration number. If still nothing, treat the firm as unregistered.
- 03
Read the activities the entry covers
Open the entry and read the list of activities. Compare each one with the product you were offered. Note whether the entry mentions leveraged foreign exchange, CFDs, or holding client money. If it does not, the licence does not cover that part.
- 04
Note the date you checked
Write down the date of your check, for example 12 March 2025. The register can change. A later removal or narrowing means the entry you read no longer applies. Keep the date with your notes.
- 05
Decide before you send
If the firm is not found, or the entry does not cover the product, do not send the deposit. A deposit of ₱10,000 sent by GCash to an unlicensed firm is not a trading loss. It is simply gone.
The mistake most people make here
The common mistake is to trust a screenshot of a certificate, or a licence number printed on the firm's own website, without opening the register. Anyone can copy a number onto a page. Instead, open the SEC Philippines register yourself, type the exact firm name, and read the entry on the day you check. If the entry does not name the product you were offered, treat the licence as not covering it, however official the screenshot looks.Check yourself
You are about to send ₱10,000 to a firm. One pip on one standard lot of EUR/USD is 10 units of the quote currency, and the rate is 65.10 PHP per unit. What is one pip worth in pesos, and how many pips of movement does your deposit equal?
One pip is 10 x 65.10 = ₱651.00. ₱10,000 divided by ₱651.00 is about 15.4 pips, so your whole deposit moves by roughly 15 pips of price on one standard lot.
You check the register on 12 March 2025 and the firm is listed, but the entry covers a type of activity that is not leveraged foreign exchange. Is the licence covering the product you were offered?
No. The entry is real, but it does not cover that product, so the licence does not protect the trade you were offered. Record the date of the check, 12 March 2025, because the register can change.
Questions that come up next
How do I find the register on the SEC Philippines website
Open the SEC Philippines website and look for the page that lists registered firms. The list is public, so you do not need an account and you do not pay a fee. The commission updates it, not the firms on it. Read the entry on the day you check, because the list changes.
What exactly should I type into the register
Type the exact firm name as it appears on the page where you were offered the product. Do not type a shortened name, a brand name, or a name you saw in an app store. If the firm trades under another name, type that name as well. The register matches text, so one wrong letter can return no result.
What if the firm is listed but the entry names a different activity
The entry is real, but it does not cover the product you were offered. A registration for lending or remittance is not a registration for leveraged foreign exchange. Treat the licence as not covering the trade, however official the screenshot looks. No rule then protects the money you send.
How long is a check still good for
A firm can be added, removed, or have its activities narrowed, so an entry is only as good as the day you read it. Note the date of the check and keep it. A screenshot from last year is not evidence of anything today. Check again on the day you decide to send money.
Does a licence mean the firm will not lose my money
No. A registration means the firm met the rules for that activity on the day it was registered. It is not a quality score and it does not promise a profit. A firm can be listed and still be a poor choice. The register answers one question only: does this registration cover the product you were offered.
What if I cannot find the firm at all
Try the company registration number if you have it. If a search returns nothing, treat the firm as unregistered. A deposit of ₱10,000 sent by GCash to an unlicensed firm is not a trading loss. It is simply gone.
In the Philippines
- Where the register is
- the SEC Philippines website, which has a searchable register of registered entities
- What to type into it
- the exact firm name as written on the website you were shown
- What to look for
- whether the registration type covers the product you were offered, not just whether a name appears
- What to record
- the date you checked, because entries and statuses can change
- Payment methods used locally
- GCash and bank transfer; both are hard to reverse once sent
The words used on this page
- register
- The public list of registered firms kept by the SEC Philippines. It shows each firm name, its registration date, and the activities its registration covers. You can read it without an account and without paying.
- entry
- The single line or record for one firm in the register. It names the activities that firm may carry out. If the entry does not name the product you were offered, the registration does not cover it.
- leveraged foreign exchange
- Trading a currency pair with borrowed funds, so a small deposit controls a larger position. A registration for other activities does not automatically cover this one. Read the exact wording of the entry.
- suspended
- A status showing the firm's registration has been paused by the commission. The firm may still appear in the register. A suspended entry means no rule currently protects the money you send.
- revoked
- A status showing the firm's registration has been cancelled. The name may still appear in a search result. A revoked entry means the same thing for your money as no entry at all.
- spot
- A currency trade settled at the current rate rather than at a future date. An entry may cover spot foreign exchange but not leveraged foreign exchange. Read whether the wording says leveraged, spot, or neither.
What to take away
- Open the register yourself and read the entry on the day you check.
- Type the exact firm name, and treat no result as unregistered.
- Only an entry that names the product you were offered covers that product.
- Note the date of the check, because the register can change.