How to Check if a Broker, Authorised Person or Adviser Is Genuinely Registered
Published 2026-10-16 · Aadarna Stock Broking Pvt. Ltd.
Key takeaways
- Stock brokers, and anyone giving paid investment advice, must be registered with SEBI; never deal with an unregistered person.
- Authorised Persons are approved by stock exchanges and can be checked on exchange websites.
- Mutual fund distributors hold an AMFI Registration Number (ARN), which you can verify on the AMFI website.
- Match the name, registration number and contact details exactly; impersonators often copy real numbers.
Before you open an account, invest money or follow anyone's guidance, check that the person or firm is registered for what they are doing. It takes a few minutes on official websites and protects you from a large share of investment frauds. This guide shows where to look for each type of intermediary.
Who should be registered, and with whom
- Stock brokers: registered with SEBI and members of stock exchanges.
- Authorised Persons (APs): appointed by a stock broker and approved by the stock exchanges. They act as the broker's agent.
- Depository Participants: registered with SEBI and connected to CDSL or NSDL.
- Mutual Fund Distributors: registered with AMFI and identified by an ARN.
- Paid investment advice or stock recommendations: anyone offering these must be registered with SEBI as an investment adviser or research analyst; an unregistered person doing so is a red flag.
Checking a stock broker
Go to the SEBI website and look for the section listing recognised intermediaries. Search by name or registration number. A genuine broker's website also shows its SEBI registration number and exchange membership details, usually in the footer.
Checking an Authorised Person
Stock exchanges publish searchable lists of Authorised Persons. Search on the NSE or BSE website using the AP's name or registration number, and check which broker it is attached to and for which segments.
For example, Aadarna Stock Broking Pvt. Ltd. is an Authorised Person of Angel One Ltd., with NSE registration AP0397617163, BSE registration AP01061201169327 and MCX registration MCX/AP/177007. You can verify these on the exchange websites. You can also confirm an AP through the broker's own official channels.
Checking a mutual fund distributor
Every mutual fund distributor must have an ARN (AMFI Registration Number). Search it on the AMFI website to see the name and validity period. A distributor is not an investment adviser; distributors are paid commission by fund houses.
Checking a Depository Participant
Your demat account is opened with a Depository Participant (DP), which can be a broker or a bank. DPs are registered with SEBI and connected to CDSL or NSDL. The depositories list their DPs on their websites, and the DP's name also appears on your Consolidated Account Statement.
If a statement or message claims to come from a depository, compare it with what you can see on the official CDSL or NSDL website. Do not click links in unexpected messages; type the address yourself.
What to match
- The exact name of the person or firm.
- The registration number, and that it is currently valid.
- The type of registration, so it covers what they are offering you.
- The contact details: the phone number, email and website should match the official records or the firm's verified website.
- For APs, the broker they are attached to.
Impersonators often copy a genuine registration number and pair it with their own phone number or website. If the contact details do not match the official listing, treat it as a red flag.
Warning signs even when someone shows a number
- They ask you to pay money into a personal account or any account other than the broker's.
- They promise assured or fixed returns.
- They give stock tips while being registered only as a distributor or Authorised Person, which do not permit advice.
- They refuse to put anything in writing.
Frequently asked questions
Is an Authorised Person registered with SEBI?
An Authorised Person is approved by the stock exchanges and appointed by a SEBI-registered stock broker, which is responsible for it. You can verify it on the exchange websites.
The registration number is real but the phone number is different. Is that a problem?
It can be a sign of impersonation. Contact the firm through the details on its official website or the exchange listing, not through the number you were given.
Can an Authorised Person or distributor give me investment advice?
Not unless separately registered with SEBI as an investment adviser. Authorised Persons and distributors help with accounts and transactions; they are not permitted to give advice in those roles.