Min. Deposit: $100
Platforms: MT4, MT5
Found in: 2011
- Tera Europe Limited - authorized by FCA (UK) registration no. 564741
Min. Deposit: $100
Platforms: MT4, MT5
Found in: 2011
TeraFX is an online Forex trading broker that specializes in Forex and CFDs on Indices, Commodities, and Precious Metals through a fully regulated trading environment accompanied by robust technology.
The broker is based in London, UK, and is authorized and regulated by the top-tier Financial Conduct Authority (FCA). We found that TeraFX follows a No Dealing Desk (NDD) execution model, which means that your trading orders are directly transferred to the market through multiple liquidity providers.
Overall, the broker offers competitive Forex and CFD trading services via the advanced MetaTrader trading platforms, which are highly regarded in the industry for their extensive features and user-friendly interface. Additionally, being regulated by a reputable FCA provides an added layer of security and reliability to the broker’s operations.
According to our research, TeraFX is a trustworthy brokerage firm due to its strong regulatory framework, smooth account opening process, diverse funding options, and wide selection of account types. Traders can also take advantage of the popular MT4 and MT5 platforms for their trading needs.
For the cons, the broker lacks providing extensive educational resources and research materials to assist traders in their decision-making. Moreover, there is no 24/7 customer support, which may be a limitation for traders who require immediate assistance outside regular business hours.
|Top-tier license||No 24/7 customer support|
|FCA regulation and oversee||Limited educational and research materials|
|MT4 and MT5 trading platforms|
|STP/NDD execution model|
|Retail and professional trading|
|Low minimum deposit|
|Available for UK traders|
|📉 Instruments||Forex and CFDs on Indices, Commodities and Precious Metals|
|🖥 Platforms||MT4, MT5|
|💰 EUR/USD Spread||0.6 pips|
|💳 Minimum deposit||$100|
|🎮 Demo Account||Provided|
|💰 Base currencies||GBP, EUR, USD|
|☎ Customer Support||24/5|
Based on our analysis and some factors, we have assigned a favorable rating to the broker. These include its top-tier regulation, popular trading products, advanced trading platform, and competitive spreads for its trading services.
|Ranking||TeraFX||Sucden Financial||House of Borse|
|Advantages||Trading Conditions||Trading Instruments||Trading Services|
When searching for alternative brokers to TeraFX, you should consider various factors such as trading features, regulatory compliance, fee structures, market availability, customer support, and user feedback. To assist you in this process, we have conducted a thorough analysis and compiled a list of potential broker alternatives for your consideration:
No, TeraFX is not a scam. The brokerage is regarded as reliable and trustworthy, as it is regulated by Top-tier FCA (UK). The FCA implements strict regulations and guidelines to ensure that the broker operates at high standards.
Yes, TeraFX is a legit and regulated broker.
The broker places significant importance on adhering to regulatory obligations and is closely monitored to ensure compliance. This focus on regulatory compliance enhances the safety of traders and instills a sense of confidence in the company.
See our conclusion on TeraFX Reliability:
|TeraFX Strong Points||TeraFX Weak Points|
|Risk management tools|
The broker’s regulation by the FCA is highly significant, indicating its adherence to strong operational standards, financial backing, and robust safety protocols.
Additionally, we found that the FCA maintains consistent monitoring and conducts audits of all trades carried out by TeraFX. To ensure the protection of the client’s funds, the broker keeps them separate from its funds and holds them in trusted Tier-1 banks. This additional measure offers clients an added level of security and peace of mind.
Leverage is a quite known instrument, which multiplies the initial capital you trade and can be a very useful tool to magnify your potential gains. However, always note that high leverage can work in reverse too.
TeraFX leverage is offered according to FCA regulation:
Per our research, TeraFX has designed 5 account types tailored for CFD trading, each catering to specific needs and varying in their offerings. Moreover, new traders are allowed to open a Demo account free of charge. In the case of Spread Betting, the broker offers Retail, Pro, Demo, and Corporate account types.
|Variety of account types||None|
|Fast account opening|
|Various account base currencies|
Opening an account with a broker is considered quite easy, as you can log in and register with TeraFX within minutes. Just follow the opening account or sign-in page and proceed with the guided steps:
TeraFX offers a selection of popular markets for traders to engage in, including Forex as well as CFDs on Indices, Commodities, and Precious Metals.
Reviewing the broker’s fee structure we discovered that the broker provides competitive pricing for trading instruments. However, additional fees such as swap or rollover, as well as inactivity fees, may be incurred during trading activities.
|Fees||TeraFX Fees||Sucden Financial Fees||House of Borse Fees|
Based on our test trade, the broker offers variable spreads with an average spread of 0.6 pips for the highly-traded EUR/USD currency pair in the Forex market. TeraFX also provides competitive spreads for all major currency pairs and popular trading instruments.
|Asset/ Pair||TeraFX Spread||Sucden Financial Spread||House of Borse Spread|
|EUR USD Spread||0.6 pips||1 pip||0.3 pips|
|Crude Oil WTI Spread||0.4||3||4.2|
There are a variety of payment methods for broker’s clients to deposit funds into trading accounts, including Bank Wire, Credit/Debit cards, and e-wallets such as Skrill, and Neteller. However, some payment methods may have specific requirements or restrictions depending on the client’s bank or other financial institutions involved.
Here are some good and negative points for TeraFX funding methods found:
|TeraFX Advantage||TeraFX Disadvantage|
|Popular funding methods||None|
|Fast digital deposits|
|Multiple account base currencies|
The minimum deposit for TeraFX is $100. Yet, various account types may demand different amounts at the opening state, as well always make sure to check the necessary margins on one trading instrument or another.
TeraFX minimum deposit vs other brokers
|TeraFX||Most Other Brokers|
We found that the broker charges a $0 fee for both deposits and withdrawals. Withdrawal options are similar to deposits, but you should always check with the payment provider in case it charges any transaction fee.
To initiate a withdrawal fund from your trading account, the brokerage firm provides a set of typical steps that can be followed:
Traders can access the widely recognized and popular MetaTrader 4 trading platform, which is available in desktop, web, and mobile versions. For spread betting, MetaTrader 5 Web is specifically provided. These platforms offer a diverse array of features and enable traders to employ various strategies, including trend trading.
|Platforms||TeraFX Platforms||Sucden Financial Platforms||House of Borse Platforms|
Per our analysis, TeraFX provides traders with a variety of trading tools, such as advanced charting features with multiple chart types, various timeframes, trading signals, an economic calendar, and over 40 technical indicators. Moreover, traders have the option to utilize Expert Advisors (EAs) to automate their trades, helping to identify market movements and enhance their market entry and stop-loss strategies.
Broker’s customer support is available 24/5 through Email, Phone, and Live chat. Also, the support team includes trading specialists who can assist with technical support, analysis recommendations, general inquiries, and operational issues.
See our find and ranking on Customer Service Quality:
|Phone support, email, and live chat||No 24/7 customer support|
Lastly, we found that the broker has limited educational and research materials available for traders. While TeraFX provides an Economic calendar and glossary, these resources may not offer a comprehensive educational experience for those seeking in-depth knowledge. However, the broker offers a demo account option, enabling traders to practice their strategies without the risk of real money.
In summary, TeraFX is an esteemed broker that provides traders with a secure and reliable trading environment. Regulated by the respected FCA, the broker demonstrates a commitment to meeting stringent regulatory requirements. Traders can take advantage of competitive pricing, access to popular markets, and advanced MetaTrader trading platforms.
Nevertheless, the broker’s educational and research materials are limited, and customer support is not available 24/7.
Overall, we found that TeraFX offers competitive trading conditions, however, we advise conducting thorough research and evaluating whether the broker’s services and offerings align with your specific trading requirements.
Based on Our findings and Financial Expert Opinions TeraFX is Good for:
No news available.