TeraFXUK provides online trading in Forex and Contracts For Difference (CFD’s) in Indices, Commodities and Precious Metals including Gold and Silver. Operating from the City of London and regulated by the UK’s Financial Conduct Authority (FCA), our mission is to provide our customers with an exceptional trading experience. First rate customer service, reliable trusted dealing technology, and a transparent No Dealing Desk (NDD) execution model enable us to meet the needs of all Forex traders. Our multi-lingual Client Service team are available 24/5 and can be contacted by live chat, email or telephone.
TeraFXUK is a trading name of Tera Europe Limited, company registration number 7604372.
TeraFX is a straight through processing broker authorised and regulated by the Financial Conduct Authority (“FCA”) in the UK (registration number known as FRN is 564741). TeraFX up to date details including scope of permissions, trading name, related parties, contact details, address and more could be verified using FCA Online Register.
TeraFX has permissions to accept three types of clients: retail, professional and eligible counterparties. On your application to open an account with TeraFX you are classified appropriately as per our Classification Policy. Under, FCA rules our Retail clients, afforded with the maximum level of regulatory protection.
Segregated client funds
At TeraFX client safety is our main focus. As TeraFX is a regulated broker and in accordance with CASS (Client Asset Sourcebook) we need to uphold certain rules and obligations, offering our clients the fullest security. As stipulated by the FCA client money rules, TeraFX is obliged to segregate all its retail clients’ funds from its own funds.
All our retail clients’ funds are held in separate bank accounts with the world’s top tier one banks and held separately from Tera’s own funds. This ‘ring-fenced protection‘ means that Tera cannot use these funds for any operational purpose.
Whilst we still perform reconciliations of professional client funds, we are not obliged and do not keep professional client funds on a segregated bank account by default. We can, however, consider requests for segregation from our Professional clients on a case by case basis.
Investor protection and compensation
As a UK based, authorised and regulated financial services firm, our clients are afforded the protection of the Financial Services Compensation Scheme (FSCS), subject to scheme eligibility. This means that cash and assets held by us are covered by the FSCS. This means that if, in an unlikely event, we are unable, or likely to be unable, to pay claims against us, customers can apply to the FSCS for compensation. Any claim will be limited to £85,000 per individual.
The Markets in Financial Instruments Directive is a European Union law that provides harmonised regulation for investment services across the 31 member states of the European Economic Area.
At TeraFX we uphold all aspects of MiFID making sure our clients receive the most secure way of trading:
- Authorisation, regulation and passporting
- Client categorisation
- Client order handling
- Pre-trade transparency
- Post-trade transparency
- Best execution
Please note even in the event of Brexit MiFID provisions are embedded into national legislation.
Customer Care and Complaints Policy
At TeraFX we pride ourselves on our levels of customer support and aim to provide the best possible service to all of our clients. We hope that if an issue were to arise we would be able to promptly put things right, however if you felt that our Customer Support team hadn’t resolved the issue satisfactorily you are able to refer your complaint to our Compliance Department.
What we offer
At TeraFXUK we are committed to providing our clients access to the most popular global markets via the most popular trading platform – MT4.
- Over 60 currency pairs
- CFD’s on indices and commodities
- Spreads from 0.6
- Up to 30:1 leverage (retail clients)
- Up to 500:1 leverage (professional clients)
- No Dealing Desk execution
- $100 minimum deposit
- Education & Analysis
- Partnership Programmes
David O. 11 May 2023 Reply