TeraFX is a regulated STP broker that operates from the United Kingdom. They provide traders with the MT4 trading platform for trading multiple financial markets, such as forex, commodities, indices, precious metals, and CFDs. The broker also provides various educational resources and useful trading tools, whilst there is a competent client support team to assist traders. The minimum deposit required to start trading is $100.
TeraFX Review, Pros & Cons
- Regulated brokerage
- Intuitive MT4 trading platforms
- Educational resources
- Trading tools
- No MetaTrader 5 platforms
- Not the lowest spreads
- Minimum $100 deposit
- No USA clients
In this detailed TeraFX review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Founded in 2011, TeraFX is a UK-based multi-asset brokerage firm that offers straightforward access to the global financial markets. Trades are executed on the popular MT4 trading platform, which has some useful built-in trading tools. Some of the key features of this broker include multiple account types, spreads from 0.6 pips, STP execution, and leverage of up to 1:30 and 1:500 for retail and professional clients respectively.
TeraFX UK is a trading name of Tera Europe, which is authorised and regulated by the Financial Conduct Authority (FCA) in the UK: FCA FRN: 564741.
The broker accepts traders from different parts of the globe, provided their countries of origin permit online trading with international brokers.
Some TeraFX features and products mentioned within this TeraFX review may not be available to traders from certain countries because of legal restrictions.
At TeraFX, all trading activities are carried out via the popular MT4 trading platform. MT4 is a popular trading platform that was launched in 2005 by the Russian software company, MetaQuotes. The platform is packed with advanced trading tools, including technical analysis tools, expert advisors, and more, and it offers unhindered access to even the most dynamic financial markets. MT4 is available in desktop, web, and mobile versions.
TeraFX Trading Tools
There is an economic calendar on the broker’s website, which shows the schedule of future market events along with their expected impacts on the financial markets.
Traders are provided with some learning resources to improve their trading skills and knowledge. The available educational resources include learning articles, trading guides, webinars, and a trading glossary that displays various trading terms along with their detailed explanations.
The broker offers the following trading instruments: forex, commodities, indices, precious metals, and CFDs.
TeraFX Accounts & Fees
The following trading account options are available at TeraFX: Starter, Premium, ECN, Pro, and Corporate Accounts. The minimum deposit required to start trading is $100. A demo account is also available for practice purposes.
As broker fees can vary and change, there may be additional fees that are not listed in this TeraFX review. It is imperative to ensure that you check and understand all of the latest information before you open a TeraFX broker account for online trading.
The broker’s client support team is available 24/5 to respond to clients’ general, technical, and account-related inquiries. They can be contacted via telephone, email, and Live Chat.
TeraFX Deposit & Withdrawal
Traders are allowed to deposit and withdraw funds, to and from their trading accounts, using any of the following payment methods:
- Bank transfers
- Credit/Debit cards
The time taken to process a transaction is dependent on the payment method used.
TeraFX Account Opening
Account opening at TeraFX requires a simple process: click on the “Open Live Account” button at the top-right corner of the broker’s website, fill out the form properly, and provide any requested KYC documents.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree with them.
TeraFX is a UK-based retail broker that offers secure access to various financial markets. Trades are carried out using the MT4 trading platform, which is available in desktop, web, and mobile versions. The broker provides traders with educational resources and some trading tools, whilst a knowledgeable client support team is always available to render any requested assistance. The minimum deposit required to start trading is $100.
CFDs and Spread Bet are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.9% of retail investor accounts lose money when trading CFDs and Spread Bet with this provider. You should consider whether you understand how CFDs and Spread Bet work and whether you can afford to take the high risk of losing your money.