Forex TargetFX Broker Review

Performance Matrix

Main Score & Risk Matrix

N/A

Score

1.3

Very Poor

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

License 1.5

Business 0.8

Risk Control 1.1

Software 1.8

Regulatory 1.3

Terminal Snapshot

TargetFX Trading Conditions

Registered Region Saint Lucia

Operating Period 1-2 years

Minimum Deposit $100

Spread N/A

Licenses N/A

Contact Email support@targetfx.com

Contact Number +443812382979

Website www.targetfx.com

Balanced Review

Pros & Cons

Pros

Diverse range of trading instruments including forex, commodities, indices, and cryptocurrencies
Supports MetaTrader 5 platform with advanced trading tools
Multiple account types catering to various trading preferences
Fast execution speeds enhance trading efficiency
24/5 customer support available for timely assistance

Cons

Unregulated status raises significant safety concerns for investors
High minimum deposit requirement of $50 for account opening
Lack of access to popular trading platforms like MetaTrader
Limited educational resources for traders
Reports of withdrawal issues and lack of fund access

Compliance Desk

Regulatory Licenses

0.0/10

No structured regulatory license cards have been configured yet.

Peer Benchmark

Broker Comparison

Feature	TargetFX	Fintrix Markets	Wisdom Financial Service	AvaTrade
Operating Period	1-2 years	See review	See review	See review
Region	Saint Lucia	See review	See review	See review
Minimum Deposit	$100	See review	See review	See review
Spread	N/A	See review	See review	See review
Trust Score	1.3/10	See review	See review	See review

Product Fit

Account Types

What Account Types and Fees Does TargetFX Offer?

Account Type	Target User Group	Essential Characteristics	Applicability Notes
Standard Account	Beginners and discretionary traders	No trading commissions, suitable for low volume trades	Minimum deposit of $50 required
Pro Account	Experienced traders	Low spreads, no commission	Minimum deposit of $2000 required
ECN Account	High volume and professional traders	Raw spreads, minimal trading commission	Minimum deposit of $5000 required
Demo Account	All trader levels	Practice trading with virtual funds, risk-free environment	Accessible for testing strategies

Account Opening Process

To open an account with TargetFX, traders must complete several steps. Initially, you will need to provide personal information, including your name, address, and contact details. Following this, employment and financial information will be requested to assess your trading experience and financial status. Identity verification is necessary, requiring documentation such as an ID and proof of address. After account creation, traders have the flexibility to upgrade their accounts to a professional level as their trading experience and volume increase.

Trading Fees

Product	Spread (pips)	Commission	Notes
Forex (Major Pairs)	1.5	$0	Competitive spreads for low volume
Forex (Minor Pairs)	Varies	$0	Potentially wider spreads
CFDs (Indices)	1	$0	Standard commissions apply
CFDs (Commodities)	Varies	$0	Dependent on market conditions
Cryptocurrencies	Varies	$0	Market volatility affects spreads

Other Fees

In addition to trading fees, traders should be aware of other potential costs. These may include deposit and withdrawal fees, which can vary based on the chosen payment method. Inactivity fees may apply if an account remains dormant for an extended period. Additionally, platform usage fees may exist, depending on the services utilized. Overnight interest rates (swap rates) apply to positions held overnight, and currency conversion fees may be incurred when trading in different currencies.

Editorial Verdict

Expert Verdict

R

Research Desk

Senior Broker Analyst

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

Funding Desk

Deposit & Withdrawal Methods

No structured payment methods have been configured yet.

Trader Feedback

TargetFX User Reviews

3.0

★ ★ ★ ★ ★

4 total reviews

5 star

4%

4 star

4%

3 star

4%

2 star

20%

1 star

60%

Mihail K.

New York, USA

★ ★ ★ ★ ★

I was quite disappointed with my experience at TargetFX. After making some profits, I found that they deducted funds from my account without clear communication. Their support was unhelpful, and I felt frustrated with their lack of transparency. I would advise caution when considering this broker.

Alexandra H.

London, UK

★ ★ ★ ★ ★

TargetFX has a user-friendly platform and offers a range of trading instruments that I find appealing. The execution speed is impressive, and I’ve had a good experience so far. Their customer support is available when I need assistance, although there’s room for improvement in their educational resources.

John D.

Toronto, Canada

★ ★ ★ ★ ★

I had major issues with withdrawals from TargetFX. It took an unreasonable amount of time to process my request, and I felt ignored by their support team. I cannot recommend this broker due to these problems.

Emily R.

Sydney, Australia

★ ★ ★ ★ ★

I’ve been trading with TargetFX for a few months now, and I’m really satisfied. The MetaTrader 5 platform is excellent for analysis, and I appreciate the variety of account types they offer. My trades execute quickly, and overall, it has been a positive experience.

Saint Lucia Market