Strength and Security

Regulated Broker

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.

For more details see www.fscs.org.uk or read our summary booklet here.

MIFID

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.

Please see our Complaints Policy for more information.