TeraFX is a brokerage brand owned by Tera Europe Limited. The broker is headquartered in London, UK, with offices in Warsaw, Poland. TeraFX provides traders with trading services for foreign exchange pairs and contracts for difference (CFDs) on commodities, indices and precious metals. TeraFX is regulated by the UK Financial Conduct Authority (FCA), with the regulatory number 564741.
TeraFX offers its traders more than 60 Forex currency pairs, Contracts for Difference (CFDs), Commodities, Indices and VPS (Virtual Private Servers).
TeraFX has a total of seven live account types, namely Micro, Micro Plus, Entry, Advanced, ECN, Professional and Business accounts. In addition, there is a demo account to help investors practice their trading skills.
TeraFX is a broker regulated by the UK authorities and its maximum leverage complies with its limits. Therefore, according to European FCA regulations, retail traders can use limited leverage on Forex instruments, up to 1:30. Whereas professionals can use leverage as high as 1:100 or higher.
TeraFX's cost is based on a variable spread, as low as 0.6 pips, depending on the type of account the investor trades. ECN and professional accounts are characterized by the raw spread plus the cost of TeraFX, also determined by the account type, eg oil accounts start from 0.4 pips. Also, a swap or rollover rate should always be considered a transaction cost.
TeraFX provides the MetaTrader4 trading platform for investors. Suitable for beginners and professionals alike, the MT4 platform is highly customizable, with a powerful charting package, and over 40 technical indicators. Of course, another great advantage of MT4 is its algorithmic trading or robot function, which supports automated trading.
TeraFX supports traders to deposit and withdraw funds through payment methods such as bank transfer, a range of e-wallets and bank card payments. TeraFX says it charges no fees for deposits and withdrawals.