TeraFX Fees and Spreads

 

A TeraFX fees and spreads Review

 

TeraFX Fees and Spreads

 

TeraFX fees spreads and commissions start from $7 with raw variable spreads.

TeraFX has a low and incredibly competitive spread when compared to what other brokers offer by offering a typical spread list which is between variable and raw variable starting from around 0.6 pips with commissions that start from $2 on the ECN Account.

 

TeraFX trading fees are according to the type of account that the trader chooses and the options along with the spread list, leverage, minimum deposit required, commissions, and average cost of trades as follows:

  • Starter Account – minimum deposit of $100, leverage of up to 1:30, zero commissions charged on trades, but with an average cost/mark-up on trades starting from $18, depending on the financial instrument.
  • Premium Account – minimum deposit of $100, leverage of up to 1:30, zero commissions charged on trades, but with an average cost/mark-up on trades starting from $1, depending on the financial instrument.
  • ECN Account – minimum deposit of $100, leverage of up to 1:30, commissions start from $2 and depends on the financial instrument being traded, spreads are raw and variable.
  • Pro Account – minimum trade size of 0.01 micro and standard lots and a maximum of 100 standard lots. Commissions are available on demand and depending on the instrument, traders qualify for leverage up to 1:200.
  • Corporate Account – traders will have to contact TeraFX customer service for more information on this account.

 

The minimum deposit that TeraFX requires to open an account is $100 which is average when compared to brokers offer with similar trading conditions.

 

Other Fees

 

Traders should note that certain financial instruments can only be traded during a certain time of the day, especially when considering different time zones, and additional fees may be charged should they hold these positions after they have closed.

Traders should always note that Overnight fees, otherwise known as swap fees or rollover fees, may be charged for positions held open for longer than a day.

There is no indication of whether TeraFX offers the option of an Islamic account to traders who are of Muslim faith and who operate under the Sharia Law.

TeraFX does not offer traders with spread betting and therefore spread betting fees are not applicable to this broker.

 

Broker Fees

 

TeraFX does not charge any deposit fees or withdrawal fees.

There is no indication of whether TeraFX waives any additional broker fees such as inactivity fees or fees pertaining to account maintenance and management. Traders will have to verify any additional fees with TeraFX before opening an account.

 

Pros and Cons

 

PROS CONS
1.      Tight and competitive spreads 1.      None Noted
2.      Low minimum deposit  
3.      Variety of accounts offered  
4.      Deposit and withdrawal fees are not charged  

 

FAQ

 

How many instruments can I trade with TeraFX?

You can trade the following instruments:

  • Forex
  • Commodities, and
  • Indices

 

Which platforms are supported by TeraFX?

TeraFX provides the following popular trading platforms:

  • MetaTrader 4

 

Does TeraFXoffer leverage?

Yes.

Retail clients qualify for leverage up to 1:30 while professional traders can get up to 1:200 depending on the financial instrument.

 

What spreads can I expect with TeraFX?

Spreads from as little as 0.6 pips, depending on the account and the financial instrument.

 

Does TeraFX charge commission?

Yes.

Commissions start from $2 when using the ECN account and will depend on the type of account as well as the financial instrument being traded.

 

Is TeraFX regulated?

Yes, TeraFX is regulated by the highly reputed FCA in the UK.

 

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

Yes, TeraFX is suitable for both beginner and expert traders.

 

What is the overall rating out of 10 for TeraFX?

8/10

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