TeraFX

TeraFX is a UK-based brokerage firm established in September 2017. Its registered office is at One Canada Square in Canary Wharf, London, with a branch office in Dubai. The company operates under the legal entity Tera Europe Limited, which is authorized and regulated by the Financial Conduct Authority (FCA) with reference number 564741. In the UK, the broker offers services to both retail and corporate clients, while its Dubai branch (regulated by the DFSA) does not cater to retail traders.

TeraFX positions itself as a multi-asset brokerage, providing access to forex, CFDs, indices, commodities, and spread betting. The broker targets experienced retail investors and institutional clients, emphasizing a high-touch service model. Its FCA regulation imposes certain client protections, including segregation of client funds and access to the Financial Ombudsman Service and Financial Services Compensation Scheme (FSCS) for eligible UK clients.

TeraFX holds a Forex Execution License (STP) from the FCA under license number 564741. The FCA is widely regarded as a tier-1 regulator, known for stringent capital requirements, regular reporting, and client money protection. The broker's registration can be verified on the FCA register. Additionally, the Dubai branch is regulated by the Dubai Financial Services Authority (DFSA), though it serves only professional and institutional clients.

The dual-regulation structure enhances credibility, but retail traders should note that the UK entity is the relevant one for their accounts. The FCA's oversight means that TeraFX must adhere to strict conduct rules, including leverage limits and negative balance protection for retail clients under ESMA regulations.

TeraFX promotes the UNICA trading platform, a proprietary electronic trading application designed for multi-asset trading. The platform is described as high-performance, handling market data and execution across asset classes. The broker also claims to be platform neutral, suggesting potential support for other platforms via integration.

For retail traders, the platform is accessible via web and likely mobile. The broker does not specify support for popular third-party platforms like MetaTrader 4 or 5, which may be a consideration for some traders. The emphasis on institutional-grade technology suggests a focus on order execution and reporting.

TeraFX offers a free demo account for practice. Live trading accounts are not explicitly categorized on the website, but the Terms of Business reference a Customer Agreement for Professional and Eligible Counterparty Clients. This indicates that the broker may differentiate between retail and professional accounts, with professional clients potentially facing fewer regulatory protections but accessing higher leverage.

The broker's Turkish-language site mentions a maximum leverage of 1:10, which is conservative compared to many offshore brokers. This aligns with FCA retail leverage limits (maximum 1:30 for major forex pairs). Minimum deposit information is not publicly listed on the pages reviewed.

TeraFX provides access to nearly 50 trading instruments, including major, minor, and exotic forex pairs; precious metals like gold and silver; energy commodities; and indices. The broker also offers CFDs and spread betting. This range is moderate for a retail broker.

The broker claims to offer double-way trading and 24/5 market access. Specific spreads and commissions are not disclosed on the website, which is common for brokers that tailor pricing based on account type or volume.

TeraFX provides client support via email and phone, with contact details listed for its London headquarters and Dubai branch. The website includes a contact form. There is no visible educational section or trading tools section on the reviewed pages, suggesting that self-directed traders may need to seek external resources.

The broker's social media presence includes Instagram and LinkedIn, but activity levels are unclear. The website is available in English and Turkish, indicating a target market that includes Turkish-speaking traders.