Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighGenuine FSCA Category I advice/intermediary licence verified in force, but it does not cover the offshore Saint Lucia/MISA entity that holds client funds, and a CNMV warning exists; a held-but-weak licence caps this below the top of scale.
Identity & transparency
4/10 · ModerateEntities, registration numbers and a real Sandton office address are disclosed and match the FSCA register, though the marketing blurs which entity clients actually deal with.
Withdrawals & conduct
6/10 · HighSeveral specific fund-access complaints (blocked account, missing deposit, three-week withdrawal via a claims service), partly offset by some confirmed payouts and company replies.
Reputation
6/10 · HighTrustpilot around 3.3 across 57 reviews with a mixed distribution, plus a live CNMV warning naming the domain.
Website claims
7/10 · HighHeadlines it as 'a truly regulated ECN broker' and 'FSCA Licensed Trading' while the client-money entity is an offshore Saint Lucia/Comoros company and the FSCA licence is advice/intermediary only.
Operational history
5/10 · ModerateLicensed since October 2023 but rebranded from EPFX to a brand-new domain in 2025, so limited and churned track record.
Who they are
A quick desk file on the company behind the brand.
- Brand: EPFX, rebranded to TX3 Markets in 2025
- Legal entity (licensed): TX3 Markets Global (PTY) Ltd, South Africa, reg 2022/526513/07
- Legal entity (client-facing): TX3 Markets Global Ltd, Saint Lucia, reg 2023-00449, also claiming a Comoros MISA licence
- Registered: Norwich Place West, Sandown, Sandton, Gauteng 2196, South Africa; and Rodney Bay, Gros-Islet, Saint Lucia
- Website: epfx.com (redirects to) tx3markets.com
- Only real licence: FSCA FSP 53180 (South Africa), advice and intermediary category only
- Offers: Forex, indices, metals, crypto and stock CFDs on MetaTrader 5, cTrader and an in-house platform; 25 USD minimum deposit
- Not accepted: residents of Australia, New Zealand, the United States, Spain, Cyprus, Singapore and others
- Age claim: operating roughly since 2023; the current tx3markets.com domain was only created in May 2025
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Financial Sector Conduct Authority (FSCA), South Africa
Mwali International Services Authority (MISA), Comoros
Registrar of International Business Companies, Saint Lucia
Why we reached this verdict
How the evidence adds up.
We reached a likely-scam verdict because an independent regulator has flagged this exact website and users report losing access to their funds.
- Spain's CNMV lists WWW.EPFX.COM in its public register of unauthorised entities, dated 7 October 2024. A regulator naming the exact domain is the strongest single signal we look for.
- The broker leads its marketing with 'a truly regulated ECN broker' and 'FSCA Licensed Trading'. In reality the FSCA licence is only an advice and intermediary authorisation, and it belongs to the South African company, not the Saint Lucia and Comoros company that actually holds client deposits.
- On Trustpilot we found several specific complaints: an account blocked for no stated reason, a deposit that reportedly went missing for over a week, and a withdrawal that took almost three weeks and needed a third-party claims service to resolve.
- The claimed Comoros MISA licence, number BFX2025154, does not appear on the MISA published list of authorised brokerage companies, and MISA is not a real financial supervisor in any case.
- The move from the epfx.com brand to a brand-new tx3markets.com domain, while a regulator warning sits against the old name, is a pattern we treat as a red flag.
Evidence ledger
Every finding, with its source and how strongly it points.
E1Spain's CNMV lists WWW.EPFX.COM/ and EPFX in its public register of unauthorised entities, dated 07/10/2024.
E2FSCA FAIS register shows FSP 53180 as TX3 MARKETS GLOBAL (PTY) LTD, reg 2022/526513/07, status Authorized from 17/10/2023, Category I advice and intermediary for Forex investment and Derivative instruments.
E3The broker's own risk disclosure states client accounts are onboarded through TX3 Markets Global LTD in Saint Lucia (Reg. 2023-00449), also claiming a Comoros MISA licence (BFX2025154), while the site headline markets a 'truly regulated ECN broker' and 'FSCA Licensed Trading'.
E4epfx.com (registered 2001, an aged domain) now returns a 301 redirect to tx3markets.com, whose domain was created on 19 May 2025, confirming a recent rebrand from EPFX to TX3 Markets.
ModerateVerisign RDAP domain recordsE5The claimed Comoros MISA licence number BFX2025154 does not appear on the MISA published list of authorised brokerage companies, and MISA is a non-supervisory island registrar.
E6EPFX Trustpilot page (57 reviews, TrustScore about 3.3) contains multiple fund-access complaints, including an account 'blocked for unclear reasons', a deposit that reportedly went missing, and a withdrawal that took almost three weeks and required a third-party claims service, alongside some reports of paid withdrawals.
E7The internal record listed this broker as a suspicious clone with a single MISA licence numbered 53180; investigation shows 53180 is in fact the FSCA FSP number of its own South African entity, and no impersonation of another firm was found.
The other side
The strongest case in this broker’s favour.
In fairness, this is not a pure boiler room, and several points cut in the broker's favour.
- The FSCA licence is genuine. We confirmed FSP 53180 on South Africa's official register: TX3 Markets Global (PTY) Ltd, status Authorized since 17 October 2023.
- Some clients confirm they were paid. Reviews describe a no-deposit bonus paid out to a crypto wallet and raw-spread withdrawals processed quickly.
- The company replies to complaints on review sites rather than ignoring them.
- It has stopped accepting clients from Spain, Cyprus and other restricted countries, which is a compliance step, and many offshore brokers appear on CNMV warning lists simply for lacking European authorisation rather than for outright theft.
- It is not impersonating any other firm; the entities, licence and Sandton office are its own.
What would change this
What we would need to see to revise the verdict.
Our view would move if the picture below changed.
- Toward safer: the CNMV removing the epfx.com warning, and a clear run of independently verified, full-value withdrawals with no fresh fund-access complaints.
- Toward safer: the broker taking client deposits through the FSCA-licensed South African entity under a proper dealer authorisation, instead of an offshore Saint Lucia and Comoros shell.
- Toward worse: a second regulator warning naming the domain, an FSCA action or suspension against FSP 53180, or a cluster of new, detailed withdrawal-refusal reports.
- Toward worse: evidence that the platform prices are not real market prices, or that deposits are steered only to crypto wallets.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Frequently asked questions
Quick answers about this broker’s safety.
Is EPFX (TX3 Markets) a scam?
We rate it a likely scam and high risk. It holds one real but limited South African licence, but Spain's regulator has publicly warned against the website and several users report blocked accounts and stalled withdrawals. Treat it with great caution.
Is EPFX regulated?
Only partly. The South African entity holds a genuine FSCA licence (FSP 53180), but it is an advice and intermediary authorisation, not a full dealer licence, and it does not cover the offshore Saint Lucia and Comoros company that actually holds your money.
Why does epfx.com send me to tx3markets.com?
EPFX rebranded to TX3 Markets in 2025. The old epfx.com address now redirects to tx3markets.com. It is the same operation under a new name.
Can I get my money out of EPFX / TX3 Markets?
Some users report successful withdrawals, but others describe accounts being frozen, a deposit going missing, and a withdrawal taking nearly three weeks. Fund access is unreliable, which is a serious warning sign.
Is my money safe with them?
There is no strong protection. Client funds are taken by an offshore company in Saint Lucia and Comoros. The South African FSCA licence does not provide deposit protection for that offshore entity.
Who owns EPFX / TX3 Markets?
The brand is run through TX3 Markets Global (PTY) Ltd in South Africa (the FSCA-licensed entity) and TX3 Markets Global Ltd in Saint Lucia (the client-facing entity). It is not linked to any larger regulated group.
How old is the company?
The South African entity was registered in 2022 and licensed by the FSCA in October 2023. The current TX3 Markets website domain was only created in May 2025, so the brand is young.
What is the MISA licence worth?
Very little. MISA is a Comoros island registrar, not a real financial supervisor, and its licences have been disavowed by the Comoros central bank. We could not even find the claimed number BFX2025154 on its published list.
Is EPFX a clone of another broker?
No. It uses its own brand names, entities and licence. Our earlier internal suspicious-clone label is not supported by the evidence.
Why did Spain's CNMV warn about EPFX?
On 7 October 2024 the CNMV listed WWW.EPFX.COM as an entity not authorised to provide investment services in Spain. The broker now blocks Spanish clients, but the warning remains on record.
What does the CNMV warning mean for me?
It means a national regulator investigated this exact website and found it was soliciting investors without authorisation. Even if you are outside Spain, that is a strong reason to be cautious.
What should I check before depositing with any broker like this?
Confirm which legal entity holds your money and where it is regulated, search regulator warning lists for the exact domain, read recent withdrawal reviews, and avoid bonuses that lock your funds. Here, all four checks raise concerns.
What we recommend
The practical takeaway from everything above.
Treat EPFX / TX3 Markets as high risk and do not deposit money you cannot afford to lose.
- Do not rely on the 'FSCA regulated' headline. Your account is with an offshore Saint Lucia and Comoros company that the South African licence does not cover.
- Check the CNMV warning yourself before sending any funds.
- If you already have a balance, request a full withdrawal early and keep dated screenshots of every request and reply.
- Avoid bonuses, which often carry trading-volume conditions that lock withdrawals.
- If a withdrawal is refused, complain in writing to the FSCA in South Africa and keep all transaction records.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed August 7, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.