Dear MonolithicOpportunity3563,
Thank you for flagging this.
We took a preliminary look at 501FX. Based on the information currently displayed on its website, the platform does not appear to present itself as FCA-authorised. Instead, it states that the website is operated by FSG Brokers LTD in the Union of the Comoros and claims regulation by the Mwali International Services Authority (M.I.S.A.). The site also lists a UK phone number on its support page.
At the same time, we were not able to identify FCA authorisation for 501FX in the public FCA sources we reviewed. As a result, if the platform is targeting UK retail clients, that would be a relevant concern and something that warrants caution. The FCA states that firms carrying out regulated financial services in the UK generally need to be authorised or registered and advises consumers to verify firms through its Firm Checker.
We appreciate you bringing this to our attention.
Regrads,
Chris