Reported as a scam / unregulated
Why 501FX is on the register
501FX claims to be authorized by MWALI International Services Authority (MISA). However, while a licence under the stated entity FSG Brokers LTD does appear in the official MISA register, the registered website domain associated with that licence does not match the website currently used by 501FX. This mismatch raises serious doubts about whether 501FX is genuinely operating under the claimed authorization. Moreover, the Financial Conduct Authority (FCA) issued a warning against 501FX, believing this company might be providing financial services or products without proper authorization in the UK. Thus, we assess 501FX as likely unlicensed or potentially fraudulent. 501FX appears to be a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.