Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighNo licence from any financial regulator while taking retail CFD deposits at up to 1:500 leverage. Saint Lucia licenses no forex business, so only a company registration exists. Not a 10 because no licence is faked, there is no clone and no warning-list hit.
Identity & transparency
6/10 · HighLegal entity, registration number, street address and a working national phone are disclosed consistently, and a client reached a real staffed office. Against that, no owners or directors are named, the undisclosed July 2025 change of control, and three different places of business across its own channels.
Withdrawals & conduct
6/10 · HighFour fund-integrity complaints describing the same failure, time-clustered and checkable, including one unpaid since January 2026. Held at 6 because credible successful-withdrawal reports exist, the company answers publicly, one case was resolved in two days, and all of it sits on one platform.
Reputation
6/10 · HighTrustpilot 3.0 from only 15 reviews, split 46 percent five-star and 47 percent one-star with an empty middle, planted-looking content on both sides, and almost no independent discussion elsewhere. No regulator warning anywhere, which keeps it out of the top band.
Website claims
6/10 · HighCredit for naming no regulator, quoting no licence number and stating a founding year that matches the records. Marked down for the unevidenced Full Equity Coverage insurance claim, withdrawal conditions of 900 to 5,000 standard lots, and exclusion lists contradicted by a Dubai self-description and an India-only payment rail.
Operational history
4/10 · ModerateAbout three years, consistently evidenced by the 14 May 2023 domain registration, the 2023 company number and its own stated founding year. Not lower because the exact incorporation date is not public and control of the business changed in July 2025, when payouts stalled.
Who they are
A quick desk file on the company behind the brand.
- Brand: NeolinFX
- Legal entity: Neolin Capital Market Ltd.
- Registered: Saint Lucia, company No. 2023-00397, Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet
- Operating office: 41/4 Marine City, 1 Station Road, Dehiwala, Colombo 3, Sri Lanka, with the Sri Lankan phone number +94 78 134 8748. The company's own LinkedIn page instead describes it as established in Dubai, United Arab Emirates, and its Facebook page is titled Neolinfx | Dubai.
- Website: neolinfx.com, with a client portal at my.neolinfx.com and a web terminal at trade.neolinfx.com
- Only licence: none. The Saint Lucia number is incorporation paperwork, not financial regulation.
- Offers: forex, stock indices, commodities and crypto CFDs on MetaTrader 5 and WebTrader, plus PAMM and copy trading. Minimum deposit $100, leverage up to 1:500, deposit bonuses of 15 to 30 percent.
- Not accepted: residents of the United States, Cuba, Iraq, Myanmar, North Korea, Sudan, the United Arab Emirates and India.
- Age claim: the company states 2023, and that matches the evidence. The domain was registered on 14 May 2023 and the company number is a 2023 number, so the operation is about three years old.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
Registry of Companies and Intellectual Property, Saint Lucia
Why we reached this verdict
How the evidence adds up.
We rate NeolinFX high-risk rather than a scam. The money risk is real and structural, but the deception evidence that a scam verdict needs is not there.
- Nobody regulates this broker. Its own risk warning and about page name no regulator and quote no licence number. The only identifier it publishes is Saint Lucia company No. 2023-00397. Saint Lucia's Financial Services Regulatory Authority licenses insurance, pensions, credit unions, international banks, international mutual funds, money services, registered agents and virtual asset business. Forex and CFD brokerage appear nowhere on that list, and the authority keeps a standing warning notice on forex trading, last updated on 8 January 2026. So there is no licence for this business to hold in its home jurisdiction, and none held anywhere else.
- What that means in practice. There is no capital requirement, no client-money segregation rule, no independent complaints body and no compensation scheme. If the company stops paying, there is no regulator to escalate to.
- Clients report withdrawals approved and then not paid. On Trustpilot, one client states a withdrawal was requested on 6 January 2026, showed as approved in the portal and was debited from the MT5 account, but was never credited, and was still unresolved when they wrote in March 2026. Another gives account number 103665 and roughly $1,000 pending from May through August 2025. A third had $500 held. The failures describe the same mechanism, they cluster around mid-2025, and they carry checkable details such as amounts, dates and an account number. Three of the four pattern tests are met.
- The company has acknowledged the problem. In its own public replies it attributes withdrawal delays and mismatches to a change of management, and a client who visited the office reports staff admitting the delay for the same reason. A change of control at an unregulated firm holding client deposits, with payouts stalling around it, is a material risk event.
- Its restrictions do not match its conduct. The terms exclude residents of the United Arab Emirates and India. Yet the LinkedIn page says the broker was established in Dubai, the Facebook page is titled for Dubai, the site is hosted in the UAE, the promotions include a Dubai trip, most reviewers are UAE-based and one of them visited the office. The homepage also advertises UPI, which only serves India. Operating a brokerage from the UAE requires authorisation from the Capital Market Authority, the DFSA or the ADGM, and the company holds none. Either the exclusions are not real or the marketing is not, and either way clients are being taken on where no licence covers them.
- Two claims overstate the protection on offer. The Trade Insure account advertises Full Equity Coverage with no insurer, no terms, no limits and no conditions published anywhere, at a broker with no regulator and no compensation scheme. Separately, the prize offers let the company deduct the prize value from a withdrawal unless the client first trades 900, 1,250 or 5,000 standard lots. At 5,000 lots that is roughly half a billion dollars of turnover, which is out of reach for an ordinary retail account.
- The footprint is thin and polarised. Fifteen Trustpilot reviews in about two years, split 46 percent five-star and 47 percent one-star with nothing in between. Three of the negative reviews advertise fund-recovery services or promote another platform, so we discounted them rather than counting them. Several of the five-star reviews are single-review accounts with one generic line. Neither side of that distribution is worth much.
- Why not a scam verdict. There is no regulator warning, no enforcement action and no fraud-related court record naming this company or domain. It is not a clone and it borrows no other firm's licence, entity or address. Its MetaTrader 5 server is a real MetaQuotes-provisioned server under its own corporate name. It has a street address where a client was able to turn up and get paid. On the evidence we hold, this reads as an unregulated broker with a payout problem, not a proven theft operation.
Note on operating history: the 3.4-year track record rests on domain registration alone. No company incorporation date could be established, so this is an upper bound rather than a confirmed age.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The broker's own legal page names no regulator, no licence and no authorisation number. The only identifier published is Saint Lucia company registration No. 2023-00397, with a registered address at Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet. No client-fund segregation or compensation scheme is mentioned.
E2The Saint Lucia Financial Services Regulatory Authority licenses domestic insurance and pensions, credit unions, international banks, international insurance, international mutual funds, money services business, registered agents and trustees, and virtual asset business. Forex and CFD brokerage and securities dealing appear nowhere as licensable activities, so there is no Saint Lucia forex licence for this company to hold.
E3The Saint Lucia authority maintains a standing public warning notice on forex trading among its current postings, with its warning notices document dated 8 January 2026.
E4Four clients on the per-domain review page for neolinfx.com describe the same failure, a withdrawal that is approved or pending and then not paid. One states a request made on 6 January 2026 showed as approved and was debited from the MT5 account but was never credited, and remained unresolved in March 2026. One gives account number 103665 and about $1,000 pending from May to August 2025. One had $500 held. One reports being unable to get anything back. The set is clustered around mid-2025 and carries dates, amounts and an account number.
E5In its own public replies the company attributes withdrawal delays and mismatches to a recent change in management, and a client who attended the office reports staff acknowledging the delay for the same reason. This places a change of control in July 2025 at an unregulated firm holding client deposits, with payouts stalling around it.
E6The company's own LinkedIn page states that NeolinFX is a true STP broker, established in the United Arab Emirates, Dubai in 2023, gives Dubai as its headquarters, 2023 as its founding year and a company size of 201 to 500 employees, and lists neolinfx.com as its website. Its terms meanwhile exclude residents of the United Arab Emirates, and it holds no authorisation from the UAE Capital Market Authority, the DFSA or the ADGM.
E7The homepage advertises payment logos for PayPal, Visa, Mastercard, Skrill, Google Pay, crypto and UPI. UPI serves India only, while the company's own terms state it does not provide services to residents of India. The same footer gives the Saint Lucia entity and a Sri Lankan street address and phone number.
ModerateNeolinFX homepageE8The offer terms let the company deduct the value of a prize from a client's withdrawal unless the client has first traded a minimum of 900 standard lots for an iPhone offer, 1,250 standard lots for a trip offer, or 5,000 standard lots for a funded-account offer. Five thousand standard lots is roughly half a billion dollars of notional turnover, which is unreachable for an ordinary retail account.
E9The Trade Insure account advertises Full Equity Coverage at a $500 minimum deposit with 1:500 leverage and a 30 percent deposit bonus, but publishes no insurer, no underwriter, no policy terms, no limits and no conditions. The company has no regulator and no compensation scheme behind it.
E10The registry record for neolinfx.com shows registration on 14 May 2023 through GoDaddy, expiry on 14 May 2027, last change on 15 May 2026, and nameservers at domaincontrol.com. Registrant details are privacy-shielded, which is normal for new domains. The date is consistent with the 2023 company number and the company's own stated founding year.
E11The broker's platform page serves its MetaTrader 5 installers from MetaQuotes' own distribution network at download.mql5.com under the path neolin.capital.market, with mobile links carrying the server parameter NeolinCapitalMarket-Server. That means a genuine licensed MetaTrader 5 server exists under the company's own corporate name, rather than a simulated in-house terminal or a self-hosted installer.
E12A client whose $500 withdrawal was stuck visited the company's office, confronted staff, was told the delay was caused by the management takeover, and had the withdrawal processed within two days. They then revised their review upward. Other reviewers report straightforward deposits and withdrawals. This is direct evidence of a real staffed place of business and of funds being returned.
E13No regulator warning, alert-list entry, enforcement action or fraud-related court record naming Neolin Capital Market Ltd. or neolinfx.com was found across the UK FCA warning list, the ASIC Moneysmart investor alert list, the CFTC Registration Deficient list, IOSCO's aggregated alerts, the MAS investor alert list, the SFC alert list and the UAE authorities. The company also carries no licence that could be another firm's, so no identity misuse arises.
ModerateWarning-list sweep across the FCA, ASIC Moneysmart, CFTC RED List, IOSCO, MAS and SFC alert lists, searched by brand, legal entity and bare domainE14The about page describes the company as established with a vision to redefine the standards of online trading but states no founding year and claims no regulator or licence. The company is therefore not advertising a longer history than it can evidence, which removes the age-misrepresentation pattern common at high-risk brokers.
ModerateNeolinFX about pageE15No company named Neolin Capital Market appears in the cross-jurisdiction company search, in Saint Lucia or anywhere else. Saint Lucia's International Business Companies regime keeps shareholders, directors and beneficial owners off the public record, and the registry publishes no public company search, so the registration number cannot be independently confirmed and the exact incorporation date is not available.
E16The contact page gives a single operating office at 41/4 Marine City, 1 Station Road, Dehiwala, Colombo 3, Sri Lanka, with the phone number +94 78 134 8748 and the email support@neolinfx.com. No Dubai or UAE office is listed on the broker's own site, even though its LinkedIn and Facebook pages present it as a Dubai business.
ModerateNeolinFX contact pageE17An independent broker review page for Neolin Capital Market carries no user reviews at all, confirming how thin the verifiable client footprint is for a company that describes itself as a leading global provider with 201 to 500 employees.
E18The domain is three years old, registered through GoDaddy with hidden ownership details, hosted in the United Arab Emirates on Amazon infrastructure, with a valid domain-validated certificate and a low traffic rank. The UAE hosting corroborates the UAE operational nexus the company advertises on LinkedIn while excluding UAE residents in its terms.
The other side
The strongest case in this broker’s favour.
Several things count genuinely in this broker's favour, and they are the reason we stopped short of a scam verdict.
- It tells the truth about its licence. The most common mechanic in this market is a fake or borrowed licence number. NeolinFX quotes none. Its homepage, risk warning and about page name no regulator at all, so a reader who checks is not actively misled about supervision.
- The age claim is honest. The 2023 founding year on its LinkedIn page matches the domain registration of 14 May 2023 and the 2023 company number. There is no inflated history.
- The trading platform is real. The MetaTrader 5 installers are served from MetaQuotes' own distribution network under the company's own name, and the server NeolinCapitalMarket-Server is a licensed MT5 server. That is not a simulated in-house terminal, which is the usual sign of a fake platform.
- There is a real office with real staff. One client who was not being paid went to the office, confronted staff, was told the reason for the delay, and had the withdrawal processed within two days. They then revised their review upward. A verifiable place of business that pays a complaining client is one of the hardest things for a pure scam to produce.
- Withdrawals do work for some clients. Other reviewers describe straightforward deposits and withdrawals.
- Mainstream payment rails. Visa, Mastercard, PayPal, Skrill and Google Pay all appear alongside crypto. Card and processor payments can be disputed, unlike the crypto-only funnels typical of fraudulent operations.
- The company answers complaints in public. Its replies ask for an account ID and an email so the case can be traced, and in one case it correctly pointed out that a review was about an unrelated platform.
- Nothing from any regulator. We found no alert or warning naming Neolin Capital Market Ltd. or neolinfx.com, and no enforcement or court record.
- A fair point on jurisdiction. Hundreds of real brokers operate on offshore paperwork. Being unregulated is a serious risk to a client, but on its own it is not proof of dishonesty.
What would change this
What we would need to see to revise the verdict.
This assessment is evidence-based and would move in either direction on the following.
- Towards a scam verdict: a warning or alert from any regulator naming neolinfx.com or Neolin Capital Market Ltd.
- Towards a scam verdict: a credible, specific report that the company demanded a further payment, such as a tax, fee or insurance charge, before releasing a withdrawal. One such instance would change this materially. The only review mentioning repeated tax paperwork also advertises a recovery service, so we did not count it.
- Towards a scam verdict: the same withdrawal failure appearing on a second independent platform, or the January 2026 case remaining unpaid with more clients joining it.
- Towards a scam verdict: evidence that the Saint Lucia registration does not exist, or that the company is operating from a UAE address while telling clients it does not serve the UAE in order to sidestep a regulator.
- Towards a lower risk rating: a genuine licence from a real financial regulator, verifiable on that regulator's own register under this legal entity and this domain.
- Towards a lower risk rating: public resolution of the outstanding withdrawal cases, and a longer run of clean, specific payout reports across more than one platform.
- Towards a lower risk rating: publication of the Full Equity Coverage terms with a named insurer, and clear disclosure of who owns and controls the company after the 2025 change of management.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Saint Lucia FSRA warning notice on forex trading
The Saint Lucia regulator's standing public notice about forex trading in the jurisdiction.
Saint Lucia FSRA warning notices document, 8 January 2026
The authority's own warning notices document, as published.
Saint Lucia FSRA list of regulated sectors
Shows what the authority licenses. Forex and CFD brokerage are not on the list.
NeolinFX risk warning page
The broker's own legal page, which names no regulator and no licence number.
NeolinFX offer terms
The lot-volume conditions attached to its prize and bonus offers.
Trustpilot reviews for neolinfx.com
Client reviews for this exact domain, including the withdrawal complaints.
NeolinFX LinkedIn company page
Where the company describes itself as established in Dubai in 2023.
Domain registration record for neolinfx.com
The registry record showing the 14 May 2023 registration date.
Frequently asked questions
Quick answers about this broker’s safety.
Is NeolinFX a scam?
We did not find evidence that NeolinFX is a scam. There is no regulator warning against it, it is not a clone of another firm, and it does not fake a licence. We do rate it high-risk, at 64 percent, because it holds no financial licence anywhere and several clients report withdrawals that were approved and then never paid.
Is NeolinFX a fraud?
We found no evidence of fraud. No regulator has issued a warning or alert naming Neolin Capital Market Ltd. or neolinfx.com, there is no enforcement action against it, and we found no fraud-related court record naming the company. What we did find is an unregulated broker with a small but specific set of unresolved withdrawal complaints, which is a risk to your money rather than a proven crime.
Is NeolinFX regulated?
No. NeolinFX holds no licence from any financial regulator. Its only identifier is Saint Lucia company registration No. 2023-00397, which is incorporation paperwork. Saint Lucia's Financial Services Regulatory Authority does not license forex or CFD brokers at all, so there is no licence for this business to hold there.
Is a Saint Lucia registration the same as a licence?
No, and this is the single most important thing to understand about this broker. A Saint Lucia International Business Company registration confirms only that the company legally exists. It gives no permission to hold client money or deal in financial instruments, imposes no capital requirement, and comes with no supervision of how client funds are handled.
Can I withdraw my money from NeolinFX?
Some clients withdraw without difficulty and say so in their reviews. Others do not. One client states a withdrawal was approved on 6 January 2026 and debited from their MT5 account but never credited, and was still unresolved two months later. Another reports about $1,000 pending from May to August 2025. One client was paid within two days after going to the office in person.
Is my money safe with NeolinFX?
Your deposits carry no regulatory protection. There is no client-money segregation requirement, no compensation scheme and no financial ombudsman covering this company. If the firm stopped paying, there would be no regulator to escalate to. Only deposit what you can afford to lose entirely.
Who owns NeolinFX?
The contracting company is Neolin Capital Market Ltd., registered in Saint Lucia. No directors or beneficial owners are named anywhere on its website, and Saint Lucia's company register does not publish ownership details for international business companies. The company has publicly acknowledged a change of management in July 2025, but it has not disclosed who took over.
How old is NeolinFX?
About three years. The domain neolinfx.com was registered on 14 May 2023, the Saint Lucia company number is a 2023 number, and the company's own LinkedIn page gives 2023 as its founding year. All three agree, so unlike many brokers it is not overstating its history.
Is NeolinFX a clone of another broker?
No. NeolinFX quotes no other firm's licence number, uses no other company's legal name or registered address, and its brand is not an imitation of a known regulated broker. Its MetaTrader 5 server is registered under its own corporate name.
Is the NeolinFX trading platform real?
Yes. Its MetaTrader 5 installers come from MetaQuotes' own distribution network and its server, NeolinCapitalMarket-Server, is a licensed MetaTrader 5 server registered under the company's own name. That means a genuine trading operation, not a simulated in-house terminal. A real platform does not solve the regulation problem, but it does rule out one common form of fake broker.
Why does NeolinFX say it does not serve the UAE when it looks like a Dubai broker?
That contradiction is one of our main concerns. The terms exclude residents of the United Arab Emirates and India, yet the company's LinkedIn page says it was established in Dubai in 2023, its Facebook page is titled for Dubai, the site is hosted in the UAE, and most reviewers are UAE-based. The homepage also advertises UPI, an India-only payment method. Running a brokerage from the UAE requires authorisation it does not hold.
What is the Trade Insure Full Equity Coverage worth?
We could not establish that it is worth anything. The account page advertises Full Equity Coverage but publishes no insurer, no policy terms, no limits and no conditions. With no regulator and no compensation scheme behind the business, we would not rely on this claim when deciding how much to deposit.
Are the NeolinFX bonus and prize offers safe to take?
Read the conditions first. The terms allow the company to deduct the value of a prize from your withdrawal unless you have first traded 900 standard lots for an iPhone offer, 1,250 for a trip offer, or 5,000 for a funded-account offer. Five thousand standard lots is roughly half a billion dollars of turnover, which an ordinary retail account will not reach.
What should I do if NeolinFX is holding my withdrawal?
Document everything: dates, amounts, ticket numbers and portal screenshots. Never pay an extra fee, tax or charge to release funds, because no legitimate broker requires that and it is the classic advance-fee trap. If you funded by card or a payment processor, open a dispute with that provider quickly. Be wary of anyone offering paid fund recovery, as several reviews on this broker's own page are adverts for such services.
What should I check before depositing with any broker?
Find the licence number, then look it up on the regulator's own register rather than trusting the broker's website, and confirm the register names the same legal entity and the same website you are using. Check that the regulator actually licenses retail trading, not just company registration. Then read the withdrawal terms and the bonus conditions before you send anything.
What we recommend
The practical takeaway from everything above.
Treat any money sent to NeolinFX as money you could lose with no way to recover it through a regulator.
- If you are considering depositing: understand that no financial authority supervises this broker. A Saint Lucia company number gives you no protection, no segregated funds and nobody to complain to.
- If you want regulated protection: choose a broker licensed by a tier-one authority such as the FCA, ASIC, CySEC or the UAE's own regulators, and confirm the licence on that regulator's register under the exact legal entity you will be contracting with.
- Avoid the prize and bonus offers. The withdrawal conditions attached to them run from 900 to 5,000 standard lots, and below those thresholds the company can deduct the prize value from your withdrawal.
- Do not rely on the Trade Insure Full Equity Coverage claim. No insurer, limit or condition is published for it.
- If you already have funds there: keep your balance low, document every withdrawal request with dates, amounts and ticket references, and keep the portal screenshots. Clients report that persistence and attending the office in person produced results.
- If a withdrawal is being held: never pay an additional fee, tax or charge to release it. No legitimate broker requires that. If you funded by card or a payment processor, raise a dispute with your provider promptly, since those windows close.
- Be careful who you turn to for help. Several reviews on this broker's page are adverts for fund-recovery services. Paid recovery agents are a common follow-up scam on people who have already lost money.
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 October 12, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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