General Information& Regulation
TeraFX UK is a brokerage brand owned by Tera Europe Limited. The brokers headquarters are in London, UK, though there is a second office in Warsaw, Poland. TeraFX provides trading services with forex pairs and contracts for difference (CFDs) in commodities, indices and precious metals. TeraFX is regulated by the UK Financial Conduct Authority (FCA), registration number 564741.
Market Instruments
TeraFX offers its traders more than 60 forex currency pairs, Contracts for Difference (CFDs), commodities, indices and VPS (Virtual Private Server).
Accounts
There are seven real account types in total at TeraFX, namely the Micro, the Micro Plus, Starter, Premium, ECN, Pro, and Corporate account. Additionally, a demo account is available to help investors practice their trading skills.
Leverage
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.
Spreads & Commissions
TeraFX built its costs into a variable spread starting from as low as 0.6 pips, of course conditions depending on the account type investors trade. 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. In addition, swap or rollover rates should always be considered as a trading cost.
Trading Platform Available
When it comes to trading platforms, TeraFX seems to have made a wise choices, and provide investor with MetaTrader4. MT4 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. 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.
Deposit & Withdrawal
TeraFX welcomes traders to deposit and withdraw from their account via payments methods like Bank Transfers, range of e-wallets and card payments. Surprisingly, TeraFX charges no fees for both deposit and withdrawals.
