TARGETFX Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-12 16:11

Abstract：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.

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.