How to Check If an Investment, Adviser or App Is Legit
Before you send money to a broker, adviser, investment platform or finance app, spend five minutes checking it's real. Scammers rely on people skipping this step, and every tool below is free.
Checked October 1, 2026.
The checks, by what you're looking at
| If it's… | Check here | What you're looking for |
| A broker or brokerage firm | FINRA BrokerCheck | Registration, history and any complaints or disciplinary actions |
| An investment adviser | SEC Investment Adviser Public Disclosure, or Investor.gov | Registration and the adviser's Form ADV |
| A company soliciting investors | SEC PAUSE list | Whether it's falsely claiming to be registered or located in the US |
| A bank or bank account | FDIC BankFind (NCUA for credit unions) | That the bank exists and is insured, and the exact legal name |
| A lender, money transmitter or crypto company | NMLS Consumer Access and your state regulator | A licence to operate in your state |
| An investment offering | SEC EDGAR | Whether it's registered or filed an exemption |
Red flags that mean stop
- You can't find them in any of the databases, or the name is slightly different.
- They contacted you first, especially through WhatsApp, Telegram, Instagram or a dating app.
- They promise guaranteed or very high returns.
- They ask for payment by crypto, gift cards or wire to an individual.
- They claim to be from the SEC, FINRA or another regulator and want a fee. Regulators never ask for money to release funds.
- A website or "regulatory certificate" looks official but the domain isn't .gov.
For more, see AI trading bot warning signs, crypto scams to avoid and how to spot bad investing advice.
Check a finance app
- Find the company's legal name in the app's terms or website footer.
- If it holds your cash, find its partner bank and check that bank on BankFind. See FDIC insurance explained.
- If it offers investing, check the broker behind it on BrokerCheck.
If you think you've been scammed
Stop sending money, save every message and receipt, contact your bank or exchange, and report it to the SEC (sec.gov/tcr), the FTC (ReportFraud.ftc.gov) and the FBI (ic3.gov).
FAQ
How do I know if a financial adviser is legit? Search their name on FINRA BrokerCheck and the SEC's adviser search. A legitimate adviser or firm should appear, with any disciplinary history listed.
What is the SEC PAUSE list? A list of entities the SEC has found falsely claiming to be registered, licensed or located in the US when soliciting investors.
Does the SEC protect investors? The SEC regulates securities markets and pursues fraud, but it can't guarantee you'll get money back. Checking first is the best protection.
Figures and rules in this article are checked against the official sources below. Where they disagree with us, they win.
