TeraFX Account Types

TeraFX Account types have three account options These consist of the Standard Account, Premium Account, and ECN Account. All three accounts have available base currencies of USD, EUR, GBP, and PLN.

TeraFX at a Glance

Overall Rating

• 3.5/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 100

Regulators

FCA

Trading Platform

MT4

Crypto

Yes

Total Pairs

59

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

Choose your quick section of our TeraFX Account Types below.

TeraFX Account types – 10 key points quick overview:

1. TeraFX at a Glance
2. TeraFX Account types – 10 key points quick overview:
3. TeraFX Overview
4. TeraFX Account Types
5. TeraFX Account Features
6. TeraFX Demo Account
7. TeraFX Islamic Account
8. TeraFX Pros and Cons
9. Conclusion
10. Frequently Asked Questions

Here is an overview of the TeraFX account types as well as the treading features and benefits offered for each account.

TeraFX Overview

TeraFX is a London-based Forex broker that is well-regulated by the UK’s Financial Conduct Authority (FCA)

TeraFX UK provides online trading in Forex and Contracts For Difference (CFD) in Indices, Commodities, and Precious Metals including Gold and Silver.

The broker provides trusted dealing technology, and a transparent No Dealing Desk (NDD) execution model which enables it to meet the needs of a wide variety of Forex traders. The broker’s multi-lingual Client Service team is available 24/5 and can be contacted by live chat, email, or telephone.

The broker provides access to a good range of assets that can be traded on the MetaTrader 4 platform. Meta 4 is one of the world’s most popular trading platforms for leveraged products, the perfect solution for manual or automated trading strategies.

Trading Forex with TeraFX will give traders the following distinct advantages:

Trade on the margin on over 60 currency pairs, subject to account type

Competitive spreads

Flexible transaction sizes

Trading from Sunday 22:10 (GMT) to Friday 21:50 (GMT) There is only a 5-minute trading break each day from 21:59 – 22:05 (GMT).

Access the market from your desktop or smartphone via MT4 platforms

Low margin requirements

Free market research and commentary

As already noted, TeraFX is a straight-through processing broker authorized and regulated by the Financial Conduct Authority (“FCA”) in the UK (registration number known as FRN is 564741).

As TeraFX is a regulated broker and in accordance with CASS (Client Asset Sourcebook) it needs to uphold certain rules and obligations, offering its 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 the broker’s retail clients’ funds are held in separate bank accounts with the world’s top tier-one banks and held separately from TeraFX’s own funds. This ring-fenced protection means that TeraFX cannot use these funds for any operational purpose.

TeraFX Account Types

There are three account options for retail traders, each aimed at traders of different experience levels. These consist of the Standard Account, Premium Account, and ECN Account.

The broker also offers a demo account which will allow users to test out the trade features on the MetaTrader 4 platform before signing up for a real account. The broker does not offer an Islamic, or swap-free account to traders of the Muslim faith.

TeraFX Account Features

TeraFX Standard Account

TeraFX Premium Account

  TeraFX ECN Account

Traders on each of these accounts will also have access to the MetaTrader 4 platform. As such, this will give users the following trading features:

EAs welcomed

Backtesting

Customizable drag-and-drop charts

40+ technical indicators.

Add drawings and annotations

Multilingual support

26 European and Asian languages

Instant trade execution ticket or place advanced orders to be managed by the platform

Stop, Limit, Take Profit, and Trailing Stop Orders supported

TeraFX Demo Account

The demo account from TeraFX allows new traders to test the broker’s trading features before signing up for a real account.

The demo account comes funded with $10 000 /  R 162 421 in virtual currency and provides access to live prices and orders while allowing users to develop their skills in a risk-free environment.

To open a demo account, traders must do the following:

Step 1 – Open Your Account

• Navigate to the demo account registration portal on the broker’s website.

Step 2 – Fill out the form

• Complete the online registration form by providing your full name, email address, and contact number.
• Read and accept the terms and conditions.
• You must be over 18, and indicate as such, before submitting your demo application.
• Click “open demo account” to submit your application.

Step 3 – Download the Platform

• A new page will load with the download links to MetaTrader 4 for desktop and mobile devices. An email will be sent to the address the trader provided, containing their demo account login details.
• After MetaTrader 4 has been downloaded and installed, the trader can use these credentials to log into their demo account from the trading platform.

TeraFX Islamic Account

Unfortunately, TeraFX does not offer an Islamic Account to traders of the Muslim faith. This is a drawback for such traders, for whom these accounts fulfill a specific purpose, as described below.

Also known as ‘no swap accounts’, Islamic trading accounts allow Muslims to engage in online forex trading in compliance with Sharia law.

With 25% of the world’s population practicing the Islamic faith, Islamic forex trading has continued to gain popularity worldwide.

Essentially, an Islamic forex trading account charges no swap or rollover interest on positions held overnight in the forex market. An administration fee is, however, charged on some accounts to open positions.

Overall Rating

• 3.5/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 100

Regulators

FCA

Trading Platform

MT4

Crypto

Yes

Total Pairs

59

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

TeraFX Pros and Cons

Conclusion

TeraFX has three account options These consist of the Standard Account, Premium Account, and ECN Account. Al three accounts have available base currencies of USD, EUR, GBP, and PLN.

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You might also like: TeraFX Sign-up Bonus

Frequently Asked Questions

Trading environment

How many instruments can I trade with TeraFX?

TeraFX offers a range of tradable forex pairs and CFDs. There are 59 forex pairs, six metal CFDs, 12 stock indices, four cryptocurrencies, and two energies available.

Which platforms are supported by TeraFX?

MetaTrader 4.

What spreads can I expect with TeraFX?

While TeraFX does not provide its historical spread list, the broker does provide raw spreads through its ECN connectivity.

Raw spreads offer real market prices for all instruments. Forex brokers will not add any markup on asset prices, so spreads usually are extremely low or even zero.

Is TeraFX a recommended forex trading broker for experts and beginners?

Yes, TeraFX provides a good trading environment for beginner and advanced traders.

What is the overall rating out of 10 for TeraFX?

8/10.