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Before depositing money with any online broker, Dutch retail investors should verify that a platform is licensed to operate. In the Netherlands, only investment firms having obtained a licence from AFM and credit institutions having obtained a licence from DNB may offer investment services and/or perform investment activities.
The AFM register for investment firms is a free, public database where you can independently check a broker's regulatory status and operational scope. Unlike opinions or marketing claims, the register contains official licensing data — information that shapes what a broker is actually permitted to do.
You can search for undertakings in this register by selecting a category and/or using one or more search terms, and if your search is successful one or more search results will be shown. The register includes both investment firms licensed directly by the AFM and credit institutions licensed by De Nederlandsche Bank (DNB) that offer investment services.
Start by entering a broker's name, company registration number, or relevant search term. The register will display matching entities. When you select a firm, the detailed record shows key information about its authorization and permitted business activities.
The register displays several critical data points:
Licensed Activities. In the register beleggingsondernemingen, you can see which licenses an undertaking holds and whether any limitation is attached to a license, including order execution for clients, asset management, investment advice, and underwriting or placement services. This field is fundamental: it tells you precisely which investment services the firm is authorized to provide. If a broker claims to offer a service not listed in this section, that is a red flag.
License Status and Conditions. The register indicates whether a license is active or suspended, and whether any conditions or restrictions apply. A "conditional" license means the regulator has imposed specific requirements the firm must follow — this is publicly visible information that informs your assessment of regulatory oversight intensity.
Authorization Date. The date a broker received its license provides a baseline for how long it has operated under AFM supervision. Newer authorizations may reflect regulatory standards current at the time of approval; older dates indicate longer supervisory history that AFM records can reveal through enforcement actions and compliance reviews.
Is this broker legally permitted to serve retail investors? Some licenses are restricted to professional or institutional clients only. The register makes this explicit.
What investment products can the broker handle? A firm licensed only for order execution on shares and exchange-traded funds cannot legally offer derivatives, cryptocurrencies, or structured products to retail clients. The register prevents confusion.
Has the regulator imposed any active restrictions? Conditions or limitations attached to a license signal that AFM has identified areas requiring heightened compliance oversight.
Does the firm operate under its own license or via EU passporting? Investment firms notified under the European Passport fall under the supervisor in their country of origin. This affects which regulator supervises conduct and can matter for complaint handling and investor protection frameworks.
It is important to recognize the register's limits. It confirms regulatory authorization and permitted scope — essential baseline checks — but does not assess execution quality, fee transparency, customer service, or investment performance. Financial institutions providing investment services must segregate their own assets from their customers' invested assets, which protects investors against the financial institution going bankrupt. The register confirms a firm is licensed; AFM's ongoing supervision (published through enforcement actions and warnings) reveals whether it consistently complies with segregation and conduct rules.
For a more detailed picture of a broker's track record, Dutch investors can also consult the Dutch Authority for the Financial Markets (AFM) supervision of financial institutions' compliance with asset segregation obligations. Combined with the register itself, this forms a foundation for independent evaluation.
Take five minutes to look up any broker you are considering on the AFM register. Verify the firm is listed, check which services are authorized, and note any conditions. This is not investment advice — it is due diligence. The register exists precisely so retail investors can independently verify regulatory facts before committing their capital.
Analysis, not investment advice.
