TargetFx is a financial trading platform that started its operations on October 18, 2022. Although it claims to provide trading services in forex, indices, and commodities, and states that it is registered in Saint Lucia under TargetFX Ltd (registration number 2024-0016), investigations reveal that these registration details and the company name are false. Furthermore, Saint Lucia does not regulate financial derivatives. The official website of TargetFx is: https://www.targetfx.com
Background of TargetFx:
The domain for the TargetFx platform was registered on October 18, 2022. As of now, no specific corporate registration address for the company has been found.
Regulatory Information of TargetFx:
TargetFx claims to be operated by TargetFX Ltd, providing trading services in forex, indices, and commodities. The company asserts it is registered in Saint Lucia with registration number 2024-0016 and holds a membership certificate from the Financial Commission. However, verification shows that no corresponding name or registration number can be found in Saint Lucia's company registry, indicating that the registration information is false. Moreover, Saint Lucia does not regulate financial derivatives, meaning this platform does not have regulatory effect. Investors are advised not to deposit funds or trade on this platform.
TargetFx Account Registration Process:
- Visit the TargetFx website and click the register button
- Fill in the application form
- Submit identity verification documents
- Deposit funds and start trading
Account Types of TargetFx:
TargetFx offers three account types to meet the needs of different investors:
ECN Account:
- Minimum deposit: $5000
- Leverage: Up to 1:500
- Spread: Raw spread
- Commission: $8
- Margin call: 100%
Pro Account:
- Minimum deposit: $2000
- Leverage: Up to 1:500
- Spread: 1 pip
- Commission: $0
- Margin call: 100%
Standard Account:
- Minimum deposit: $200
- Leverage: Up to 1:500
- Spread: 1.5 pips
- Commission: $0
- Margin call: 100%
These account types offer diverse options for investors with different capital sizes and trading needs.
Trading Software of TargetFx:
TargetFx provides MetaTrader 5 (MT5). This platform is a popular trading system known for its powerful features and flexibility, catering to various investor needs and preferences. The MetaTrader platform offers a wide range of analytical tools, charts, and automated trading functions, enabling traders to effectively execute various trading strategies.
Trading Products of TargetFx:
TargetFx offers a variety of trading products to meet the needs of different investors, covering major asset classes across multiple financial markets. Here is a detailed introduction to the primary trading products available on the platform:
- Forex Trading: Offers forex trading in various currency pairs, including major pairs (e.g., EUR/USD, GBP/USD), minor pairs, and emerging market pairs.
- Spot Metals: Provides spot trading in precious metals, including gold and silver.
- Spot Energy: Offers spot trading in energy products such as crude oil and natural gas.
- CFDs on Stocks: Provides CFD trading on stocks from major global stock markets.
- CFDs on Indices: Offers CFD trading on major global indices, such as the S&P 500, Dow Jones Industrial Average, and NASDAQ 100.
By offering these diverse trading products, TargetFx provides investors with extensive market opportunities and flexible investment choices. Whether seeking short-term speculative opportunities or long-term investment options, investors can find suitable financial instruments and services on TargetFx.
What Are the Spreads, Leverage, and Commissions of TargetFx?
TargetFx offers three account types to meet the needs of different investors: The ECN account requires a minimum deposit of $5000 and offers raw spreads with leverage up to 1:500 and a commission of $8; the Pro account requires a minimum deposit of $2000 and offers a 1 pip spread with leverage up to 1:500 and no commission; the Standard account requires a minimum deposit of $200 and offers a 1.5 pips spread with leverage up to 1:500 and no commission. All accounts have a margin call at 100%. These account types provide diverse options for investors with different capital sizes and trading needs.
Deposit and Withdrawal Methods of TargetFx:
TargetFx supports various deposit and withdrawal methods, including Skrill, NETELLER, cryptocurrencies, and bank transfers.
Customer Support of TargetFx:
Email:
- support@targetfx.com
- sales@targetfx.com
Phone: +44 151 528 9797
Conclusion:
The false registration information and lack of effective regulation of TargetFx pose significant risks to investors. It is recommended to conduct thorough background checks and risk assessments before investing to ensure the security of funds and the legality of trading activities. Investors should prioritize regulated platforms with transparent information and good reputations to avoid unnecessary financial losses. TargetFx is flagged as "Suspected Fraud" on TraderKnows.
