Company Summary
| TargetFXReview Summary | |
| Founded | 2019 |
| Registered Country/Region | Saint Lucia |
| Regulation | Unregulated |
| Market Instruments | CFDs on Currency Pairs, Spot Metals, Cryptocurrencies, Spot Energies, Indices, and Shares |
| Demo Account | ✅ |
| Leverage | Up to 1:500 |
| Spread | From 1.5 pips (Standard account) |
| Trading Platform | MT5 |
| Min Deposit | $50 |
| Customer Support | Tel: +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.
Pros and Cons
| Pros | Cons |
| Various trading options | Not regulated |
| Demo accounts | Unspecified 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!
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 | ❌ |
Account Type
TargetFX offers three accounts to choose from, including Standard, PRO and ECN accounts.
| Account Type | Min Deposit |
| Standard | $50 |
| Pro | $2,000 |
| ECN | $5,000 |
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 Type | Spread | Commission |
| Standard | From 1.5 pips | ❌ |
| Pro | From 1 pip | ❌ |
| ECN | Raw | $8 |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | Windows, Android and IOS | Experienced 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 Option | Processing Time |
| Bank transfer | 3-5 business days |
| e-payment | Instant |
