Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighNo financial licence at all; the Saint Lucia number 2025-00274 is a company registration, not regulation, and the firm admitted it was unlicensed.
Identity & transparency
6/10 · HighAn entity, registration number and a named principal exist, but the address is an offshore agent address, operations sit in Montenegro, and ownership is opaque.
Withdrawals & conduct
6/10 · HighFund-integrity complaints of withheld or delayed payouts and no refunds at closure, offset by genuine historical payouts and no confirmed systematic denial.
Reputation
6/10 · HighThin footprint with one-star Trustpilot reviews including a total-scam report and disabled channel comments, but some positive history and no regulator warning.
Website claims
6/10 · HighImplausible 120,000-partners claim, unverified asset tokenization, and leftover placeholder text, though it did not fake a licence.
Operational history
7/10 · HighVerified at about 1.5 years, it operated under a year before shutting down and is now defunct.
Who they are
A quick desk file on the company behind the brand.
- Brand: TspFxb, marketed to Persian speakers as Tamine Sarmaye (تامین سرمایه).
- Legal entity: TspFxb Ltd.
- Registered: Saint Lucia, as an International Business Company, number 2025-00274, at The Sotheby Building, Rodney Bay, Gros-Islet. A separate operating address is given in Podgorica, Montenegro.
- Website: tspfxb.com (currently offline).
- Only official record: the Saint Lucia company registration. There is no financial regulator and no trading licence.
- Offers: paid prop-trading challenges on simulated accounts with an 80 to 90 percent profit split; the site also advertises forex, CFDs and blockchain asset tokenization.
- Audience: Persian-speaking (Iranian) traders, recruited through a referral and affiliate network.
- Age: the domain and the company both date to April 2025, so the operation is about one and a half years old. Public reviews say it stopped operating around January 2026.
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
Saint Lucia company registry (recorded in our profile as FSS)
Why we reached this verdict
How the evidence adds up.
We rate TspFxb high risk and could not verify it as safe. Here is what drove that.
- No regulation of any kind. The firm holds no financial licence and even stated it was still trying to get one. The Saint Lucia number in circulation, 2025-00274, is a company registration, not a trading licence, and a Saint Lucia company registration gives clients no protection.
- A very young operation that has already closed. The domain was created on 13 April 2025 and the company was incorporated a day later. Several independent Persian-language review sites report that the firm announced a full stop to its operations, and the site no longer loads.
- Traders report money not coming back. The common theme is passing a challenge and then having the payout delayed for one to three months, or the account suspended on a claim of linked accounts, with the profit refused. No refunds were offered when the service wound down.
- The picture is not one-sided. Some long-term users say they were paid, including withdrawals above 10,000 dollars, and no regulator has published a warning against the firm. That is why we treat it as high risk rather than a proven scam.
- Young, unregulated and now defunct. Under our rules that profile is published as high risk, and the score reflects the risk carried by the profile and the payout complaints, not a confirmed finding of fraud.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The domain tspfxb.com was created on 13 April 2025 through the registrar NameCheap, confirming the operation is about one and a half years old.
E2TspFxb Ltd is a Saint Lucia International Business Company, number 2025-00274, registered at The Sotheby Building, Rodney Bay, with an operating address in Podgorica, Montenegro; the Rodney Bay address is a common offshore agent address.
E3The firm holds no financial regulator or licence and stated it was still trying to obtain one; reviewers note there is no formal oversight.
E4The number recorded against this broker as a licence, 2025-00274, is in fact the Saint Lucia company registration number, not a financial licence.
E5The business model is a prop firm: users pay a challenge fee (roughly 15 to 425 dollars per plan) to trade a simulated account for a profit split, with execution through outside brokers such as RoboForex and MetaTrader 4 and 5.
E6Multiple independent Persian review sites report the firm announced a complete and definitive halt to operations, so that registering or buying a challenge is no longer possible, and the live site no longer loads.
E7Traders report passing a challenge and then having the payout withheld or delayed for one to three months, or the account suspended over an alleged link to another account, with the profit refused and no refunds at closure.
E8The Trustpilot page for tspfxb.com shows a 2.9 score from two reviews, both one-star, one describing a withheld payout and one calling the platform a total scam and noting frequent site-name changes.
ModerateTrustpilotE9Some long-term users report being paid, including withdrawals above 10,000 dollars, and the firm published payout receipts with transaction IDs, indicating real payouts occurred during normal operation.
ModerateIranRebate and PropYab reviewsE10A sweep of IOSCO and major regulator alert lists found no warning naming TspFxb, tspfxb.com or Tamine Sarmaye at the time of writing.
ModerateWarning-list sweep (IOSCO I-SCAN and major regulator alert lists)E11The site markets itself as offering forex, CFDs and asset tokenization and claims more than 120,000 partners, while its own About page still contains placeholder Lorem Ipsum text, indicating an unfinished, marketing-heavy build.
ModerateTspFxb archived About pageE12The site is Persian-language and recruits through a referral and affiliate network, with registration links carrying sequential referral codes and Persian fonts, indicating an Iranian target audience.
The other side
The strongest case in this broker’s favour.
In fairness, several points work in the firm's favour and should be weighed.
- As a prop firm, it needs no broker licence to sell trading challenges, so the lack of a licence is not by itself proof of wrongdoing.
- There is real evidence it paid traders during normal operation. Users reported successful withdrawals, some above 10,000 dollars, and the firm published payout receipts with transaction IDs.
- It did not fake a licence. It openly said it had no regulatory approval, which is more honest than the clones that display a stolen licence number.
- No financial regulator has issued a warning naming TspFxb or Tamine Sarmaye.
- The shutdown may reflect a genuine collapse rather than a planned exit. The firm blamed trading-server disruption and regional instability, both of which have genuinely affected Iran-facing trading services.
What would change this
What we would need to see to revise the verdict.
We would revisit this assessment if any of the following came to light.
- A current, verifiable licence from a real financial regulator covering TspFxb Ltd.
- Clear evidence that every trader with an open balance was paid in full when the service closed, which would move this toward an ordinary business wind-down.
- The site returning as a functioning, transparent operation with disclosed ownership and audited terms.
- A regulator warning, enforcement action or court record naming the firm or its domain, which would move it the other way, toward a scam verdict.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Domain registration record (Verisign RDAP)
Shows tspfxb.com was created on 13 April 2025, so the operation is about one and a half years old.
Trustpilot page for tspfxb.com
The domain's own review page: score 2.9 from two one-star reviews about a withheld payout and a total-scam complaint.
Archived copy of the TspFxb site
An archived page describing the prop-firm model, since the live site no longer loads.
Frequently asked questions
Quick answers about this broker’s safety.
Is TspFxb a scam?
We rate TspFxb high risk and could not clear it. It is an unregulated prop-trading firm that has shut down, and several traders report profits withheld after they passed challenges. Some earlier users say they were paid, so we treat it as high risk rather than a proven scam. Do not send it money.
Is TspFxb a fraud?
No court or regulator has found TspFxb to have committed fraud, and no regulator has published a warning against it. We describe what users report: payouts delayed or refused and no refunds when it closed. On the evidence we hold, we assess the risk as high, but we do not have a fraud finding.
Is TspFxb regulated?
No. It holds no financial licence. The Saint Lucia number 2025-00274 is a company registration, not a trading licence, and the firm itself said it was still trying to obtain a licence.
Can I get my money or profit back?
There is no clear route. The service has stopped and the website no longer loads. Keep all your records and report the loss to your bank or payment provider and a consumer authority. Be very cautious of anyone who offers to recover your funds for a fee.
Is my money safe with TspFxb?
No. There is no regulator, no client-money protection and no working platform. An unregulated firm that has closed cannot be considered a safe place for your money.
Who owns TspFxb?
The legal entity is TspFxb Ltd, a Saint Lucia company. Persian reviews name Mehrdad Azad as the person behind it, but ownership is not independently documented and the registered address is a common offshore agent address.
How old is TspFxb?
It is young. The domain tspfxb.com was created on 13 April 2025 and the company was registered the next day, so the operation is about one and a half years old. Any claim of a longer history is not supported.
What is Tamine Sarmaye?
Tamine Sarmaye (تامین سرمایه) is the Persian brand name for the same operation. It means capital funding and is how TspFxb marketed its prop-trading challenges to Iranian traders.
What does the Saint Lucia registration mean?
It means a company was set up in Saint Lucia. It is only an incorporation record. It is not a financial licence and it does not mean any regulator supervises the firm or protects your money.
Is TspFxb a clone of another broker?
We found no evidence that it copies a specific well-known broker's name or licence. It used outside brokers such as RoboForex for execution, but it does not appear to impersonate them.
Why is the TspFxb website down?
The site stopped responding, which fits the reports that the firm ended its operations around January 2026. A broker or prop firm whose site simply disappears is a serious warning sign.
What should I check before depositing with any prop firm or broker?
Confirm a real licence on the regulator's own register, look for recent proof that withdrawals are being paid, check independent reviews across more than one site, and make sure the legal entity and address are real. If any of these is missing, walk away.
What we recommend
The practical takeaway from everything above.
For anyone considering this firm or already involved:
- Do not send money. The service has stopped and the website does not load, so there is no working way to fund an account or complete a payout.
- If you passed a challenge and are owed a payout, gather your evidence now: challenge receipts, account statements, chat logs and any transaction IDs.
- Treat any message offering to recover your funds for an upfront fee as a second scam. Recovery-fee offers target people who have already lost money.
- Report the loss to your local financial or consumer authority and to your bank or payment provider, especially if you paid recently.
- Before trusting any prop firm or broker, confirm a real licence on the regulator's own register and check that withdrawals are being paid today, not just in old reviews.
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 September 7, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.