How to Check a Broker Dealer With FINRA

FINRA stands for the Financial Industry Regulatory Authority, which is a U.S. agency that regulates the business practices of securities firms. FINRA will perform background checks on brokers or brokerage firms that are active or inactive and ensure they are following federal securities laws and rules. Investors with brokerage firms and independent brokers can research their professional backgrounds through FINRA. FINRA also provides investors with the status of licenses using a computerized database called the Central Registration Depository (CRD). which protects investors from unfair or dishonest brokers. Continue reading to learn how to check a broker dealer with FINRA.


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    Check on brokers or brokerage firms by calling the FINRA BrokerCheck Hotline at 800-289-9999. The hotline is open Monday through Friday from 8 a.m. to 8 p.m. EST.
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    Use the FINRA BrokerCheck online database. Visit the FINRA website, which is in the Sources section of this article, to check broker dealer backgrounds.
    • Click on the "Start Search" button.
    • Review the Terms and Conditions of FINRA BrokerCheck and agree to them.
    • Select either "Broker" or "Brokerage Firm."
    • For broker searches, type the broker's first and last name or their CRD number.
    • For brokerage firm searches, type the firm's business name or CRD number.
    • Click the "Start Search" button.
    • Authenticate your session by typing the characters in order as they are displayed in the box.
    • Click the "Continue" button.
    • Select the correct broker dealer name from the search results by clicking on it.
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    Read the report on the broker dealer. The summary page you land on will provide basic firm or broker profile information. Click on the "Get Detailed Report" button in the upper-right of the report summary page to open the full report in a new window of your browser.
    • The report summary section will provide an overview of the broker or the firm, their background and credentials.
    • The broker qualifications section will list the broker's current licenses and industry examinations he or she has passed.
    • The registration and employment history section will list previous and current FINRA-registered firms the broker has worked with and his or her employment history over the last 10 years.
    • The disclosure section will provide information about any disciplinary actions, customer disputes and financial issues on the broker's record.
    • The firm profile and history section will include information on the date and location the firm was established, as well as any mergers or name changes that have affected the firm.
    • The firm operations section will provide information on all active licenses and registrations.


  • Click on the "Glossary" link on the right side of the summary page to view a complete list of terms associated with the securities industry. This will give you a better understanding of the terms associated with the report,

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Categories: Business | Finance and Business