TeraFX
Published: Updated:
- Trust score
- 4/10
- Legal simplicity
- 5/10
- Min. deposit
- 100
- Trading platforms
- Payment systems
- Instruments
- Forex, Metals, Indices, Commodities, Energies
- Legal entity
- TeraFX UK Limited
- Jurisdiction
- United Kingdom
- Fees
- Standard accounts price the cost into the spread; Pro and raw-spread accounts quote tighter pricing with a per-lot commission. Overnight swaps apply, with swap-free accounts available on request.
- Withdrawals
- Withdrawals return to the funding method and are normally processed within one to two business days. Card returns are capped at the deposited amount.
- Available in
Features
- Seminars and trader training
- Daily market analysis
- Low initial deposit
- Segregated accounts
- ECN accounts
- Affiliate program
- Wide selection of trading instruments
Pros
- No specific advantages are documented for TeraFX.
Cons
- No specific drawbacks are documented for TeraFX.
TeraFX is a UK-headquartered broker offering forex and CFDs on indices, commodities, and precious metals. It is regulated by the Financial Conduct Authority (FCA), runs on the MetaTrader 4 platform, and opens accounts from a $100 minimum deposit across five account types.
TeraFX is a UK-regulated forex and CFD broker offering segregated client accounts, ECN accounts, daily market analysis, and trader training from a $100 minimum deposit.
Regulation and Fund Safety
TeraFX is headquartered in the UK and regulated by the Financial Conduct Authority (FCA), one of the stricter regulators in the industry. Client funds are held in segregated bank accounts, and eligible clients get additional protection from the Financial Services Compensation Scheme (FSCS) if the firm becomes insolvent.
Leverage
As an FCA-regulated broker, TeraFX caps leverage for retail clients at 1:30 on forex pairs, in line with UK rules. Traders who qualify for professional status can apply for leverage of up to 1:500.
Account Types
TeraFX offers five account types: Starter, Premium, ECN, PRO, and Corporate. Each targets a different trading style and deposit level, so the right choice depends on your strategy and capital.
Trading Costs
Spreads start from 0.6 pips, though the exact cost depends on the account type. Overnight positions are subject to swap charges.
Trading Platform
TeraFX runs on MetaTrader 4 (MT4), a platform widely used for its charting tools, automated trading via Expert Advisors, and customizable interface.
Minimum Deposit
The minimum deposit to open an account with TeraFX is $100. Some account types may require a higher deposit.
Verdict
TeraFX is an FCA-regulated broker with segregated client funds, a choice of five account types, and the MT4 platform, at an accessible $100 minimum deposit. Compare it against other FCA-regulated brokers in our independent forex broker ranking before opening an account.
Trading conditions
TeraFX is a UK-authorised broker with a narrow product set — currencies, metals, indices and energies — on MetaTrader 4 only. There is no proprietary platform and no equities offering.
Under FCA rules retail leverage is capped at 30:1 on major currency pairs, with negative balance protection, margin close-out at 50% of required margin and client money held under FCA client asset rules with FSCS cover for eligible claims up to £85,000.
For a trader who wants only currency pairs and values a supervised UK counterparty, the narrow range is not a limitation. For anyone wanting a broader account it is a hard one.
Verification
Onboarding follows UK standards: identity and address verification, plus an appropriateness assessment covering trading knowledge before leveraged products are enabled. Review normally takes one business day.
Check the FCA Register for the entity's current authorisation status and permitted activities before opening. A UK licence is the substantive part of this broker's offering, so verifying it directly is worth the two minutes.
