TeraFx | Review | CFD Trading Platform Review

Our Review

Tera FX Review

 

 

Our Overview

What is Tera FX?

10 points summary

How Protected are you with Tera FX?

Awards

Is Tera FX a Scam or Safe?

Account

Trading Instruments

Trading Platforms

Trading Fees

Deposit and Withdrawal Options

Education

Customer Support

Conclusion

 

 

What is Tera FX?

Trading is a risky business, and not everyone’s piece of cake. It requires years of experience to properly understand the market and devise strategies based on the knowledge acquired over time.

Tera FX is owned by Tera Europe Ltd and was established in 2011. Currently operating from London, United Kingdom, it has a well-established reputation in the online brokerage market and is strictly regulated by the Financial Conduct Authority (FCA).

It strives to provide its traders with an ideal trading environment and various opportunities to show that it cares about them. It works on the NDD model and provides at least 60 different forex pairs along with CFDs, indices, commodities, etc. 

 

Pros	Cons
FCA offers regulation.	No US clients.
Various trading instruments provided.	No Islamic account available.
MT4 platform available.

 

10 Points Summary

Headquarters	United Kingdom
Regulation	FCA
Platforms	MT4
Instruments	Indices, Forex, Commodities, CFDs
EUR/USD Spread	0.6 pips
Demo Account	Yes
Minimum deposit	100$
Base currencies	USD, EUR, GBP
Education	Provided
Customer Support	24/5

How Protected Are You with Tera FX?

Does your online broker ensure maximum protection? If the answer to this question is negative, it's almost time to let go of that broker. 

The protection offered by a broker is the first and foremost thing that attracts traders towards it. Everyone wants to feel safe and secured.

Tera FX takes the protection of its traders very seriously and refuses to compromise on it. It is regulated by Financial Conduct Authority (FCA) with strict laws that the broker needs to follow at all costs. Furthermore, Tera FX claims to keep the funds in a segregated account to keep them safe. 

 

Pros	Cons
Strictly regulated by FCA.	None.
Segregated bank accounts.

 

Awards:

An award is given as a token of recognition for the tireless work that goes into providing remarkable service. Before the winner of an award is announced, a committee is made that reviews the work in detail and then makes a decision. Hence, the authenticity of awards can never be questioned. 

Tera FX has not won any awards so far. 

 

Is Axiory Broker a scam or safe?

You might have heard several stories about numerous people getting scammed online. But why is that so? This happens due to a lack of investigation before choosing an online broker. 

Tera FX has an esteemed reputation and is strictly regulated by FCA, so the chances of Tera FX being a scam are highly unlikely. In fact, they keep the funds of their traders in segregated bank accounts. 

Therefore, if you are thinking about choosing Tera FX, sit back and relax because you are making the right choice. 

 

Account:

Tera FX offers six different account types — Starter, Premium, ECN, Pro, Corporate, and a Demo account. 

STARTER ACCOUNT: In this type of account, a minimum deposit of $100 is required. 84 different trading instruments are available on this account, and the platform supported is MetaTrader 4. Additionally, four different types of currencies are offered, i.e., EUR, PLN, USB, and GBP. The commission is zero, and the leverage is 1:30. 

PREMIUM ACCOUNT: The features offered in this account are similar to the starter account, except that a total of 147 trading instruments are offered. The leverage offered is 1:30. 

ECN ACCOUNT: Almost similar to the starter and premium account. However, the trading instruments offered are 82 in number. 

PRO ACCOUNT: This account is designed especially for professional traders. Various features are offered, such as variable spreads, the minimum trade size is 0.01, and the commission is available on demand. The leverage offered is up to 1:200, and the general trading instruments are Forex, Commodities and Indices. 

CORPORATE ACCOUNT: Not enough information is available on the website for this type of account. If you are interested in a corporate account, you need to contact the customer support team. 

DEMO ACCOUNT: A demo account is a simulation for traders that have just started. It allows them to put their knowledge to the test in a risk-free environment. 

 

Pros	Cons
Demo account is offered.	Islamic account not offered.
Minimum deposit is $100
Variety of account types offered.

 

Trading Instruments:

Tera FX provides numerous trading instruments to its traders, such as:

Commodities

CFD Trading

Indices

Forex

ETFs

Cryptocurrencies. 

 

Pros	Cons
Multiple trading instruments are available.	None.
Forex and CFD trading available.

 

 

Trading Platforms:

The MetaTrader platforms are the most well-known and in-demand platforms in trading. Nothing comes close to the powerful tools that they offer, which helps make trading easier. 

Tera FX offers powerful MetaTrader platforms to its traders, which features a simple user interface to avoid any complications. The tools offered are backtesting, price alerts, various technical indicators, EA and multilingual support. 

 Furthermore, the MetaTrader account can be accessed by an Android and Apple phone. The features available are market news update, data charts, trade performance and much more. 

 

Pros	Cons
MetaTrader platforms supported.	None.
Simple user interface.

 

Trading Fees: 

The trading fee is based on spreads and commissions that vary depending upon the account type. The lowest spread starts at 0.6 pips. Moreover, the broker does not charge any deposit or withdrawal fee. 

 

Pros	Cons
Variable spreads.	None.
No deposit or withdrawal fee
Commission varies on account type.

 

 

Deposit & Withdrawal Options:

Tera FX offers several depositing methods, which makes the process easy and hassle-free. The minimum deposit amount for all the depositing methods is set a $100, whereas no maximum limit is indicated. The methods available are:

Bank Transfer: The process takes 2–4 business days.

Credit/Debit card: The process is rapid.

E-wallet: The process is rapid. 

The currencies that are available for these methods are USD, GBP, PLN, and EUR. All deposits are free of charge.

The process of withdrawal is identical to depositing as the same methods are available. However, the time differs. 

The bank transfer may take 1–5 business days to complete the withdrawal process, whereas Credit/Debit cards take 2–5 business days. Withdrawals are free of charge, but if a withdrawal is requested from an account from which no trades were made, a fee of $25 is charged. 

 

Education:

To understand the basics of trading and how it works, basic educational resources are necessary. You cannot expect to become a qualified and expert trader in a matter of seconds without acquiring any knowledge. 

Tera FX is dedicated to helping potential and beginner traders acquire knowledge about the fundamentals of trading, which is why it offers access to various webinars and an economic calendar. 

A glossary section is also available on their website, which anyone can access. Now, you must ask about the purpose of a glossary and how it can help someone new to the trading world A glossary defines all the basic terms that traders use on a daily basis. 

Customer Support:

Tera FX strongly believes in the fact that a good customer support service is equivalent to happy a trader. The customer support service team works passionately to assist traders in whatever problems they may face. 

The team can be contacted through a live chat, email or phone. The response time is prompt and multilingual support is present. Additionally, a FAQ section is available on the website to clear any basic queries a trader may have. 

 

Pros	Cons
Multiple languages supported.	None.
Various options to contact the team.
The response is rapid.

 

 

Conclusion:

Tera FX has managed to build a reputable reputation in the world of trading since its establishment. It seems to be an excellent choice for an online broker as it strives to provide only ease and benefits to its customers with phenomenal trading conditions. 

It provides multiple trading instruments to choose from along with excellent customer support service. Financial Conduct Authority (FCA) regulates it with strict laws, which ensures that Tera FX is a legit online brokerage firm and no harm will be inflicted upon the traders that choose it. 

All in all, Tera FX is a safe choice considering the wide range of options they provide. 

 

 

 

Frequently Asked Questions (FAQs)

Is Tera FX regulated?

Yes, Tera FX is regulated by the Financial Conduct Authority (FCA)

How much is the minimum deposit amount?

The minimum deposit amount is 100$

Is a demo account offered by Tera FX?

Yes, Tera FX offers a demo account. 

Is there any deposit or withdrawal fee?

No, Tera FX does not charge any deposit or withdrawal fee. 

Which platform does Tera FX offer?

Tera FX offers the popular MT platform.