Why Verification Matters More Than Ever
The number of trading apps and investment platforms targeting Saudi and GCC investors has grown rapidly. Alongside legitimate, well-regulated platforms, the market includes applications operating without proper licences, some structured to obscure their regulatory status, and a smaller number that are straightforwardly fraudulent.
The ability to verify a platform's legitimacy before depositing money is one of the most practically important financial skills a Saudi investor can develop. This guide provides a step-by-step process for doing exactly that, using publicly available tools and information.
Step 1: Check the Regulatory Register Directly
Every legitimate financial services platform operating in the GCC must hold a licence from a recognised regulatory authority. Do not rely on what the platform claims on its own website, claims are not evidence. Go to the regulator's public register and search for the platform's name yourself.
DFSA (Dubai Financial Services Authority): dfsa.ae/public-register — covers DIFC-based platforms. Raseed is listed and verified here.
UAE SCA (Securities and Commodities Authority): sca.gov.ae — covers UAE mainland platforms.
CMA Saudi Arabia (Capital Market Authority): cma.org.sa — covers KSA-registered platforms.
CBB (Central Bank of Bahrain): cbb.gov.bh covers Bahrain-registered platforms.
Related Reading: Is Raseed Safe? A Full Review of Regulation, Security and Fund Protection
Step 2: Confirm the Type and Scope of the Licence
Not all licences are equivalent. A platform might hold a restricted licence for a limited activity, or a licence that covers professional clients but not retail investors. Look specifically for a Retail endorsement or equivalent designation confirming the platform is authorised to serve individual investors with the full suite of consumer protections that entails.
Step 3: Verify Segregated Client Accounts
Ask the platform directly whether client funds are held in segregated accounts and which bank holds those funds. Legitimate, properly regulated platforms disclose this information clearly because it is a regulatory requirement. Platforms that cannot confirm this detail — or that respond vaguely should be treated with extreme caution.
A legitimate platform welcomes questions about its regulatory status and fund protection. A platform that deflects, provides vague answers, or redirects to marketing material is signalling something worth investigating further.
Related Reading: Why Your Money Is Secure on Raseed Platform
Step 4: Verify the Company's Physical and Legal Presence
Fraudulent platforms typically lack a verifiable physical address, a named and searchable senior management team, or clear company registration details. A legitimate platform will have a registered company name that matches its regulatory filing, a verifiable address in its regulatory jurisdiction, named executives whose professional history can be checked, and a terms of service document that references a specific legal jurisdiction and court.
Red Flags That Indicate a Platform May Not Be Safe
Claims of 'guaranteed returns' or 'risk-free' investment opportunities
No verifiable licence on any publicly accessible regulatory register
Pressure to deposit quickly or within an artificial deadline
Inability to explain clearly where client funds are held
Withdrawal requests that are delayed, refused, or accompanied by unexpected fees
Customer support that cannot answer basic questions about the company's regulatory status
Verifying Raseed
Raseed Invest Limited's Financial Services Authority Seychelles licence can be verified directly. The company is registered in the Fullerverse (SC) Limited, and its full legal name, registration number, and licence details are publicly available. This is the verification standard that every platform a Saudi investor uses should be able to meet.