What is TeraFX?
TeraFX is a global brokerage firm headquartered in the United Kingdom, with a branch in Dubai. It offers a range of financial instruments such as CFDs, forex, indices, commodities, and spread betting. The UK headquarters serves both retail and corporate clients, while the Dubai branch does not accept retail (individual) clients. TeraFX is regulated by the UK Financial Conduct Authority (FCA), holding license number 564741.
In February 2024, TeraFX underwent a rebranding: the UK entity Tera Europe Limited changed its name to Gildencrest Capital Limited. The broker asserts that the rebranding does not affect client accounts, login credentials, or services.
Strengths & Weaknesses
| ✅ Strengths | ❌ Weaknesses / Risks |
|---|---|
| Regulated by FCA (a top-tier regulator) | Some negative feedback from clients regarding withdrawals and delays |
| Multiple account types available | Transparency on trading costs, slippage, and overnight fees is limited |
| No trading commission (for many account types) | Some reports of slow withdrawal processing times |
| Free deposits/withdrawals | Educational content sometimes incomplete or non‑functional |
| Demo account available | Brand visibility is relatively low in the broader market |
| Uses MT4 / MT5 trading platforms | Limited product variety compared to large multi‑asset brokers |
| Reasonable minimum deposit (≈ USD 100) | Only one primary regulatory jurisdiction (the UK) for retail clients |
| Educational resources & research available | For non‑UK clients, regulatory protection is weaker or unclear |
Is TeraFX Safe or a Scam?
While TeraFX does hold a legitimate FCA license (FRN 564741) which implies regulatory oversight and obligations like client fund segregation under FCA rules, it is important to remain cautious.
Some red flags and considerations:
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There are multiple user reports claiming difficulties in withdrawing profits or deposits.
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The broker is currently rebranded to Gildencrest Capital; changes in branding always warrant extra vigilance.
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Its regulatory disclosures are more robust in the UK entity; in offshore or non‑UK jurisdictions, protections are less clear.
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The membership status with some third‑party dispute or compensation bodies (e.g. Financial Commission) is not present.
Conclusion (English):
TeraFX / Gildencrest Capital is a regulated broker under FCA and does present legitimate structure and oversight. However, it is not without risks. The negative user reports about withdrawals, coupled with limited transparency in some operational areas, suggest that traders should proceed cautiously — perhaps testing the broker with a small deposit first and fully verifying all terms and conditions.
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