Even with ever-increasing regulations from all the primary Forex Regulators finding out about the Financial State of a Forex Broker can be a bit challenging. Since the majority of Forex Brokers are private, this information is only submitted to their designated SRO. Many Forex Brokers for a good reason are hesitant to disclose this information and to find it takes a little investigating. For obvious reasons, traders are always looking for as much info on their broker that is available.
For US Forex Brokers there is two place one can get information on the broker. The first place is the NFA broker check website (http://www.nfa.futures.org/basicnet/) this site can give you the regulatory status of any Forex Broker and Introducing Broker. It will also let you know if there are any outstanding disciplinary actions again the broker. It is a bit frustrating, but you cannot access any financial information on the broker on this site. You will need to visit the CFTC site for any reported financials (http://www.cftc.gov/MarketReports/FinancialDataforFCMs/index.htm) Here you can select from the most recent fillings. These reports are available in either PDF or Excel. This report also lists all Futures FCM reporting as well. The information contained will include the firm’s current net capital position as well as if the firm is excess or deficient net capital. While this is not the most efficient way to get brokers data at least the information is available and free.
If you are looking to get information on a UK Forex Broker the process is similar but comes at a price. FCA provides a website that allows you to search for a broker (http://www.fsa.gov.uk/register/firmSearchForm.do) once you have completed your search the FCA site also provides the status of the broker and what products they are authorized to offer to clients. Once again no financial information is available on this site, and if you want to see their reported financials, you will need to go to the UK Companies House website (https://www.gov.uk/get-information-about-a-company). Once you have found the broker you are looking for you will need to order a report on the broker. One trick to avoid the fees uses the beta version of the website it is also much more comfortable than the older version.
If you are looking up Australian Forex Brokers, you have one site to deal with but not a whole lot of information on that site that is free. (https://connectonline.asic.gov.au/RegistrySearch/faces/landing/SearchRegisters.jspx). Any reports that you would want to order can range from $9 to $39 depending on the type of report. From the ASIC site, you will know the status of the broker and if their registration is current.
You would think that these Forex Regulators that are looking to provide improved oversite and looking to educate the clients of these brokers would make it easier to access financial data on these brokers. Hopefully, shortly this information can be located more efficiently and at no cost to the consumer.