Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
9/10 · CriticalNo financial licence anywhere while taking client deposits; only a Saint Lucia company registration, and the FSRA says forex is not licensed in Saint Lucia.
Identity & transparency
5/10 · ModerateDiscloses a legal entity, address and contacts, but the entity is unconfirmed on the registry, the country on record is wrong, and it claims to be the world's largest broker.
Withdrawals & conduct
5/10 · ModerateFund-integrity complaints exist (profit deleted; withdrawal delays with fee or tax demands) but the pattern is on one main platform, spread over time and mixed with positive payout reports, so MODERATE not systematic.
Reputation
6/10 · HighBimodal Trustpilot profile (74% five-star, 20% one-star, hollow middle) with company-invited reviews suggests solicited positives alongside scam-warning complaints; low overall volume.
Website claims
7/10 · HighCalls itself the 'world's Largest Online Forex Trading Broker' and implies a team since 2005, both unsupported for an unlicensed two-year-old firm; presents a company registration as forex credentials.
Operational history
6/10 · HighAbout two years old (company 2024, domain 2022, first content May 2024) with conflicting, unverified age claims; longevity is not established.
Who they are
A quick desk file on the company behind the brand.
- Brand: TargetFX
- Legal entity: TargetFX Limited
- Registered: Saint Lucia, Registration No. 2024-00168, Ground Floor, The Sotheby Building, Rodney Village, Gros-Islet, Saint Lucia
- Website: targetfx.com
- Only licence: None. It holds only a Saint Lucia company registration, which is not a forex licence and gives clients no financial protection.
- Offers: Forex, spot metals, energies, indices, share CFDs and crypto CFDs on MetaTrader 5
- Not accepted: The site does not clearly list restricted countries
- Age claim: The site refers to a team 'in the industry since 2005'; the company was registered in 2024 and the domain in 2022
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
Saint Lucia company registration (Registry of Companies)
Why we reached this verdict
How the evidence adds up.
We rate TargetFX high risk because it takes client deposits while holding no financial regulation at all.
- No licence. The only credential on the site is a Saint Lucia company registration number. That is a business registration, not a forex licence.
- The jurisdiction does not license forex. The Saint Lucia Financial Services Regulatory Authority states plainly that forex business is not licensed in Saint Lucia, and that documents implying it is registered or affiliated with the Authority are false and misleading.
- Young operation. The domain dates to October 2022, the company registration is from 2024, and the earliest site documents are from May 2024. This is about a two-year-old operation, not the long-established firm the marketing implies.
- Overblown claims. The company describes itself as the 'world's Largest Online Forex Trading Broker', which is not credible for an unlicensed two-year-old firm.
- Client money complaints. Reviewers report profits removed from accounts (one gives a specific figure of about 1,500 USD and an account number) and, separately, withdrawal delays with requests for extra taxes or fees before release. The pattern is worrying but not yet a confirmed, clustered, multi-platform failure, so we stop short of calling it a confirmed scam.
Evidence ledger
Every finding, with its source and how strongly it points.
E1TargetFX holds no financial licence. Its own FAQ and footer state only that TargetFX Limited is a forex service provider registered in St. Lucia with Registration No. 2024-00168, with no regulator named.
StrongTargetFX websiteE2The Saint Lucia FSRA states forex business is not licensed in Saint Lucia and that documents indicating a forex broker is registered, licensed or affiliated with the Authority are false and misleading.
StrongSaint Lucia FSRAE3Domain targetfx.com was registered on 18 October 2022; the company registration number is 2024-prefixed and the earliest client agreement PDF dates to May 2024, indicating an operation about two years old rather than long established.
E4Trustpilot shows 35 reviews at 3.7, with a bimodal split of 74% five-star and 20% one-star and an empty middle; the company invites customers to review, an astroturf-pattern indicator.
ModerateTrustpilotE5A one-star reviewer reports the broker deducted about 1,500 USD of profit from account MT5-711306 in July 2024, citing scalping, after only an email warning. A specific fund-integrity complaint.
ModerateTrustpilotE6A December 2025 one-star review warns that after investing, withdrawals are delayed or ignored and the firm may ask for additional charges, taxes or fees before releasing money, a classic withdrawal-trap description.
ModerateTrustpilotE7TargetFX describes itself as the world's Largest Online Forex Trading Broker, an implausible claim for an unlicensed two-year-old firm.
E8No regulator warning or alert list entry naming TargetFX or targetfx.com was found as of August 2026 (FCA and general sweeps).
E9Some positive Trustpilot reviews report smooth trading and fast withdrawals, including one stating funds arrived within an hour.
WeakTrustpilotE10A third-party website trust check flags targetfx.com as high risk and notes a 2022 domain registration with Cloudflare hosting.
WeakScamAdviser
The other side
The strongest case in this broker’s favour.
In fairness to TargetFX, several points cut the other way.
- It does not hide behind a fake tier-1 licence. It states openly that it is only registered in Saint Lucia, and it names a real legal entity and address.
- It runs on MetaTrader 5, publishes a client agreement, risk disclosure and terms, and lists contact details and social accounts.
- Its Trustpilot rating is net positive (about 3.7), and some reviewers report fast withdrawals, including one who says funds arrived within an hour.
- It does not currently appear on any regulator warning or alert list that we could find.
- Operating internationally under a Saint Lucia registration without a forex licence is, on its own, a common offshore model rather than proof of fraud.
What would change this
What we would need to see to revise the verdict.
Our view would improve or worsen with new facts.
- Toward safer: a genuine, verifiable licence from a real financial regulator, shown on the register with the matching entity and domain, would move this toward a normal offshore rating.
- Toward safer: a longer, clean track record with consistent, specific positive payout reports across several platforms.
- Toward scam: a regulator warning naming targetfx.com, or a clear cluster of detailed, independent, same-period reports of refused withdrawals or demands to pay a fee or tax to release funds, would push this to likely or confirmed scam.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Saint Lucia FSRA - forex is not licensed
The Saint Lucia regulator's notice that forex firms are not licensed in Saint Lucia
TargetFX reviews on Trustpilot
Independent customer reviews, including the negative ones
TargetFX FAQ and registration statement
The broker's own page showing only a Saint Lucia registration and no regulator
Website trust check
Third-party risk check of the domain
Frequently asked questions
Quick answers about this broker’s safety.
Is TargetFX a scam?
We did not find enough proof to call it a confirmed scam, but we rate it high risk. It is unregulated, only about two years old, and some clients report deleted profits and blocked withdrawals. Treat it with strong caution.
Is TargetFX regulated?
No. TargetFX holds no financial licence from any regulator. It shows only a Saint Lucia company registration (No. 2024-00168), which is a business registration, not a forex licence.
What is a Saint Lucia registration worth for a forex broker?
Very little for your protection. Saint Lucia's own regulator, the FSRA, states that forex business is not licensed in Saint Lucia. A company registration there does not mean anyone supervises how the broker handles client money.
Can I withdraw my money from TargetFX?
Some users report fast withdrawals, but others report delays, no response, and requests for extra fees or tax before release. Because it is unregulated, there is no strong authority to force a payout if it refuses.
Is my money safe with TargetFX?
There is no regulatory protection, no compensation scheme, and no confirmed client-fund segregation overseen by a real regulator. If the firm fails or refuses to pay, recovering money would be very difficult.
Who owns TargetFX?
The site names the legal entity as TargetFX Limited, registered in Saint Lucia. It does not disclose the individual owners or directors.
How old is TargetFX?
The operation is young. The domain was registered in October 2022, the company registration is from 2024, and the earliest site documents date to May 2024. That points to roughly a two-year-old business, not the long history the marketing suggests.
Does TargetFX have a real forex licence anywhere?
We could not find one on any regulator's register. It advertises no licence number for any financial regulator, only a Saint Lucia company registration number.
Is TargetFX a clone of another broker?
No. It uses its own brand, its own domain and its own legal entity. We found no sign that it is impersonating a regulated firm.
Why do some reviews say profits were removed?
At least one detailed review says the broker deducted about 1,500 USD of profit from an account, citing 'scalping', after only an email warning. Rules against certain strategies exist at some brokers, but removing profits without clear, agreed terms is a serious red flag.
What should I check before depositing with any broker?
Confirm the licence number on the regulator's own register, check the entity and website match, read the withdrawal terms, and search for recent, specific complaints about payouts. If a broker is unregulated, assume you carry all the risk.
What do I do if I was scammed by TargetFX?
Stop depositing, gather all records (emails, chats, transaction receipts), request a formal withdrawal in writing, and report to your local financial regulator and police cyber unit. Never pay a fee to 'release' or 'recover' funds, as that is a common follow-on scam.
What we recommend
The practical takeaway from everything above.
Treat TargetFX as unregulated and high risk.
- Do not deposit money you cannot afford to lose, and prefer a broker regulated by a strong authority such as the FCA, ASIC or CySEC.
- Never pay an extra fee, tax or 'unlock' charge to release a withdrawal. Legitimate brokers do not work that way.
- If you already have funds there, try a small withdrawal first and keep written records of every request and reply.
- If a withdrawal is blocked, raise a formal complaint, stop depositing, and report the matter to your local financial regulator or police cyber unit.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed August 22, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.