TeraFX is an online trading platform that we are reviewing for you today, our expert writers have gone over each and every aspect of the trading platform in this TeraFX review for you now in order to help you decide if you want to sign up with them or not. Is TeraFX a scam or is it legit? Find out in the full review below or go to the TeraFX website in the following link.
TeraFX is a digital broker operating all over the world since many years. The broker is providing its services in facilitating the customers in trading Commodities, Forex, CFDs and many other metals. The broker was founded in 2011. The headquarters of the broker are located in London, United Kingdom. Here is given a detailed TeraFX review that will explain the services provided by the broker and the pros and cons that make it a trusted broker among the traders worldwide.
Security and Regulation
Being based in the United Kingdom, the broker is regulated by the reputable and trustworthy Financial Conduct Authority (FCA). This is one of the most reliable authorities in the world and the companies working under are considered safe and trustworthy to trade with. The broker follows the guidelines and rules as set by the FCA demands. It takes good care of the customer funds and keep the funds in segregated accounts. It also offers regular audits to its customers. Thus, one can safely trade with the broker without hesitation.
Types of Accounts Offered
TeraFX offers the customers different types of accounts depending on the needs of the customers. Similar to all the forex brokers, TeraFX also offers different accounts to cater the needs of all the international customers too. The customers can deposit funds in their native currencies and exchange them accordingly.
The minimum deposit demand by the broker is 100 US Dollars. The broker offers different account types such as Starter Account, Premium Account, ECN Account, Pro Account, Corporate Account and Demo Account. Each account type caters different requirements of the customers depending on their investment and trading experience.
Deposit and Withdrawal Methods
TeraFX offers a number of deposit and withdrawal methods to its customers according to their ease and feasibility. The funds can be withdrawn by the same methods they are deposited into the account. Funds can be transferred via credit card, debit card, bank transfer or E-wallet such as Neteller, Skrill, Sofort etc. The payment could be made in EUR, USD or GBP. The transactions are immediate and require no charges for them to happen.
Leveraged products involve a greater risk of loss. Therefore, the regulated firms usually avoid high leverages as it can result in loss of the firm.
Being regulated by the FCA, TeraFX provides a little average ratio to the beginners and retailors. It offers 1:30 leverage ratio to the forex retailors as per the higher authorities’ demands. However, for the professional traders, the broker offers a high leverage ratio up to 1:100 or higher.
Charges and Fees
In the high inflation era, the charges of TeraFX are still reasonable and affordable for the customers. The broker neither demands any deposit fee from the customers nor any withdrawal fee. However, it may charge an Inactivity penalty from the customers for keeping the funds in the account for a longer time.
As compared to the other brokers in the financial market, the charges of the broker are still affordable and marked as low charges.
Research and Training
Better analysis of the market trends and conditions is key to earn maximum profit in trading. One should be aware of the ways of using the techniques and tools required in trading.
TeraFX provides advanced tools and instruments for its customers to allow them trade properly. It offers the economic calendar that updates the customers about the market rates and data and helps in better analysis.
An efficient and dedicated customer support is necessary to earn profit in trade and to get through the complexities.
TeraFX provides customer support in multiple languages that could be accessed through telephone, live chat or email by the customers. The customers could also contact the team through their official website.
TeraFX is a regulated broker company providing effective services since its inception. The broker is equipped with advanced tools and techniques and provides an engaging platform to the traders all over the world.
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