With our purpose here at 55brokers we cover sometimes a hard task to find a truth about the broker is and its offering. Always make sure to verify company details, trading license and its conditions, so now TeraFX Review for your consideration.

What is TeraFX?

TeraFX is an online trading provider that gives access to Forex and Contracts for Difference CFDs on Indices, Commodities’ and Precious Metals through its unparalleled fully regulated trading environment accompanied by robust technology.

Operating from the city of London, TeraFX provides vast trading opportunities through platforms is offers and strives to meet expectations of traders with different portfolio, size and strategy. One of the good things from TeraFX is its proven technology based on NDD execution that transfers your trading orders directly to the market through its numerous liquidity providers.

TeraFX website

Together with its alluring trading access, TeraFX also proposes some of the interesting costs that are defined by the Spreads starting from 0.6 all accompanied with education and analysis tools. Of course, education and knowledge is very important in trading therefore TeraFX support you with educational videos, economic calendar

TeraFX education

Nevertheless, to get a better understanding always check on the most important information that broker’s offering consists of. With this purpose, in this review we cover the following highlights:

Is TeraFX safe or a scam?

TeraFX is a UK firm that is of course established with respect to local strict laws and standards. Actually, the UK is a known financial world hub that also enabled some of the most respected financial markets and trading regulator known as FCA.

Therefore, TeraFX is regulated and licensed by the FCA that in reverse provides straight though process brokerage service ensuring your safety and compliance to the scope of permissions and transparent trading.

TeraFX license

Together with hard to achieve capital requirements and operational standards how the broker should deliver its service to clients, TeraFX also applies strict money rules to guarantee its safety. Clients’ funds are held in a separate bank account, while also protected by FSCS in case of the company insolvency. In addition, brokers’ environment is constantly audited and monitored, while in case of any violation the company may be suspended in a whole. That is only a few reasons why you should trust only regulated brokers and avoid by any mean offshore entities that never provide reasonable guarantees.

TeraFX Trading Platforms

Within our TeraFX Review, we saw the company made a wise choice and choose as its mainstay on proved trading technology and software MetaTrader4. This platform is not only the most used software among world traders either beginners or professionals, it is also highly customizable, yet customer-friendly.

MT4 is famous for its great charting package with additional drawing and annotations, while also over 40 indicators are at your disposal. Also, TeraFX allows backtest of strategies through its Demo account, while further on you may engage into live trading with minimum risks due to its diverse account range, which we will get back in a detail further.

TeraFX platform

And of course, another great advance of MT4 is its algorithmic trading or robot capabilities with very known EAs available either from the selection or manageable by your coding skills. So all in all, accompanied with powerful execution TeraFX provides, also the availability of VPS and trading tools you have all the chances to make your trading success with TeraFX.

What are TeraFX Costs and Fees?

Firstly within our TeraFX Review lets check on the account offering and what are the trading conditions proposed. TeraFX designed 7 Account types, where each is suited to particular needs and may diverse by its offering, see specification below. Retail trader of smaller size who needs Micro trading or for a retail trader of bigger size, professional or corporate each will find its tailored solution.

TeraFX accounts

TeraFX Spread

As for the trading conditions and spreads, TeraFX built its costs into a variable spread starting from as low as 0.6 pips, of course conditions depending on the account type you trade. Thus, ECN and Professional account feature raw spread with a markup added on as a TeraFX cost, also defined by the account type, e.g. starting from 0.4 pips for Oil. You may see some spread examples below, also compare Aetos fees to another popular broker Aetos.

TeraFX spread

In addition, you should always consider a swap or rollover rates which are charged if the position is open longer than a day. See a sample of swap charges below.

TeraFX swap

TeraFX Leverage

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, and of course necessary to know in our TeraFX Review. However, always note that high leverage can work in reverse too.

TeraFX being a regulated broker by the UK authority complies its maximum leverage according to its restrictions. Therefore, under the European FCA regulation retail traders may use limited Leverage with a maximum of 1:30 on Forex instruments. While the professionals and those who confirmed its status may access high leverage up to 1:100 or further.

What funding methods TeraFX offer?

So once you ready for live trading, you’ll be able to deposit money with flexible funding methods supported by the TeraFX that gives you full control over your account management. These methods including Bank Transfers, range of e-wallets and card payments.

TeraFX minimum deposit

As for the minimum deposit TeraFX set only 100$ as an allowance to start which is great for many reasons. Yet, various account types may demand different amounts at the opening state, as well always make sure to check necessary margins on a trading instrument or another.

TeraFX deposit

TeraFX withdrawal fee

Another pleasant addition from TeraFX is a 0$ fee for both deposits and withdrawals. Nevertheless, you should always check with the payment provider in case its party charges any transaction fees also which may be applicable due to various jurisdictions’ terms and conditions.

Conclusion on TeraFX

All in all, TeraFX Review concludes to us a reliable broker with strong regulation and a quite competitive offering with great trading opportunities. What we really like is a very wide account range, which will give you a great option to suit trading conditions together with your trading strategy. So TeraFX is a suitable choice for beginning traders and professionals too, together with its low deposit, range of the instruments, platforms al supported with advanced education.

However, we will be happy to know your personal opinion about TeraFX, which you may share in the comment area below.

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