Score

1.15 /10
Danger

TargetFX

Saint Lucia

1-2 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

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Score

Regulatory Index0.00

Business Index4.24

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

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40G

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Warning: Low score, please stay away!
Previous Detection : 2024-12-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

TargetFX · Company summary
TargetFXReview Summary
Founded2019
Registered Country/RegionSaint Lucia
RegulationUnregulated
Market InstrumentsCFDs on Currency Pairs, Spot Metals, Cryptocurrencies, Spot Energies, Indices, and Shares
Demo Account
LeverageUp to 1:500
SpreadFrom 1.5 pips (Standard account)
Trading PlatformMT5
Min Deposit$50
Customer SupportTel: +44 151 528 9797
Email: support@targetfx.com, sales@targetfx.com
Address: Ground Floor, La Place Creole Building, Rodney Village, Gros-islet, Saint Lucia.407,Business Village, Port Saeed, Dubai, UAE

Based in Saint Lucia, TargetFX is an unregulated forex broker that was established in 2019. TargetFX provides various financial products to trade via the MT5 platform, including CFDs on Currency Pairs, Spot Metals, Cryptocurrencies, Spot Energies, Indices, and Shares. Demo accounts are available and the minimum deposit requirement to open a live account is as low as $50.

TargetFX's homepage

Pros and Cons

ProsCons
Various trading optionsNot regulated
Demo accountsUnspecified withdrawal fees
Multiple account types
Commission-free accounts offered
MT5 supported
Popular payment options
Low minimum deposit

Is TargetFX Legit?

No, TargetFX is not regulated by any reputable financial body. Please be aware of the risk!

No license

What Can I Trade on TargetFX?

TargetFX offers 270 trading instruments amongst 6 asset classes, including CFDs On Currency Pairs, Spot Metals, Cryptocurrencies, Spot Energies, Indices, and Shares.

Spot Metals: Gold, Silver, And Platinum.

Spot Energies: UK Brent Oil, US Crude Oil, US natural gas etc

Shares: Trading online in Malaysia on popular shares like Amazon, Apple, and Facebook.

Indices: The FTSE 100, Dow Jones, The DAX, NASDAQ 100, Nikkei 225, CAC 40, etc.

Tradable Instruments Supported
CFDs
Currency Pairs
Spot Metals
Cryptocurrencies
Spot Energies
Indices
Shares
Bonds
Options
ETFs
What Can I Trade on TargetFX?

Account Type

TargetFX offers three accounts to choose from, including Standard, PRO and ECN accounts.

Account TypeMin Deposit
Standard$50
Pro$2,000
ECN$5,000
Account comparison

Besides, it also sets up demo accounts for traders to practice trading with virtual credit.

Leverage

TargetFX provides leverage up to 1:500 for all account types. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spread and Commission

TargetFX offers different spreads and commissions according to different account types.

Account TypeSpreadCommission
StandardFrom 1.5 pips
ProFrom 1 pip
ECNRaw$8

Trading Platform

Trading PlatformSupported Available Devices Suitable for
MT5Windows, Android and IOSExperienced traders
MT4/Beginners

Deposit and Withdrawal

TargetFX accepts Bank transfer and e-payment like Skrill, Neteller and Cryptos as payment methods. TargetFX charges withdrawal fees based on the chosen method, but not specified.

Payment OptionProcessing Time
Bank transfer3-5 business days
e-paymentInstant

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