TargetFX Broker
TargetFX is an offshore forex broker based in Saint Lucia that carries significant financial risk. While it offers trading in currencies, metals, and cryptocurrencies via the MT5 platform, it lacks regulation from major financial authorities like the FCA or ASIC.
Notably, the Autorité des marchés financiers (AMF) in Quebec has issued a formal warning against TargetFX, stating it is not authorized to operate there. With a low WikiFX score of 1.31/10, the platform is flagged for potential safety issues. Because TargetFX operates without a top-tier license, your funds lack standard legal protections. Experts strongly recommend using regulated brokers to ensure your money stays secure.
About TargetFX (targetfx.com)
Warning – Quebec’s regulator, Autorité des marchés financiers (AMF) has reported TargetFX
Website: https://targetfx.com/
Address: Ground Floor, The Sotheby Building, Rodney Village, Gros-islet, Saint Lucia.
Regulation Status: Unregulated
Operating Since: 2022-10-18
Lost Funds to TargetFX?
If you have lost funds to TargetFX, take action now. Fill out a form to ask for a case review and get fund-recovery assistance.
Is TargetFX a Trustworthy Platform?
To figure out if TargetFX is trustworthy, consider the following points:
- Does the broker have a valid license from a top regulator (FCA, ASIC, CySEC, etc.)?
- Does the website have verifiable company registration information?
- The phone numbers, office addresses, and legal documents are real and can be traced.
- Are customer testimonials similar, or do a lot of users say that there are problems with the withdrawal?
Conclusion:
- With the lack of proper licensing or company information, the risk might be much higher. Always check before you deposit any funds.
How Risky Platforms Often Operate
Here are the suspicious trading platforms’ tactics that are used the most:
“Pig-Butchering” / Long-Term Manipulation
Scammers first build a connection through chat apps, social media, or dating sites and then lead the unaware to trading on platforms where they are eventually ripped off.
Clone Trading Platforms
Such platforms imitate real trading platforms — showing rising balances, charts moving favourably — but these are fake. Withdrawals may be allowed initially, then blocked later.
Other Indicators
- Calls or messages urging you to make large deposits.
- Assurances of very high returns with no risks and short waiting times.
- Requests for “taxes” or “clearance fees” to be paid before the cash-out can be processed.
- A website that looks perfect, but in reality, it just hides the lack of regulatory disclosure.
- Fake user reviews, getting celebrity endorsements, or buying reviews to create an illusion of credibility.
Warning Signs Associated with TargetFX
- Absence of a valid, verifiable license number.
- The company address and contact information are either nonexistent or hard to trace.
- The application of forceful sales strategies is pushing for large deposits very quickly.
- The claim of “guaranteed profits” is not credible.
- The online reviews speak of payments being stopped, support disappearing, or staff being unresponsive.
What to Do If You Have Invested with TargetFX
Should you have already deposited money with TargetFX and suspect problems, do the following steps right away:
- Stop all communication with the platform and the representative that is connected to it.
- Let your bank or payment processor know about it – inquire about charge-backs, blocking more payments, or recovering funds.
- Collect proof – keep all communication, screenshots of the trading platform, deposit slips, chat logs, email threads, and transaction IDs.
- Inform the authorities – reach out to your local police or cybercrime department and lodge a formal complaint. Also, inform the financial regulator that is relevant to your jurisdiction.
- Get professional help for the recovery – if the losses are considerable, consider very carefully reliable fund-recovery or legal assistance (check credentials, fees, and past cases before hiring).
Quick Summary
TargetFX lack of regulatory oversight, along with the multitude of red flags, makes it a high-risk market. If you decide to go on, it is imperative to check its license, corporate identity, and withdrawal history first.
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