Payment Methods

The quickest and easiest way to deposit funds with TERAFX is to use a credit/debit card or E-wallet card. Payments that are successfully authorised will be credited to your account instantly⁴

To fund your TERAFX account you can login to the secure LOGIN section of our homepage to make a deposit by credit/debit card or E-wallet card. You can also get our bank details to send a deposit directly from your bank account. Alternatively see bank detail further below here.

Please only use a card in your own name and from a personal account, not business. Third party payments are prohibited, so this means no family members or friends are to send funds on your behalf.

We ask that you refrain from the use of prepaid cards or any method of payment which does not allow refunds to be processed.

Here is some more information regarding payment methods procedure and steps depending on the payment type, provider etc. We also accept the following alternative payment methods (E-Wallet and Sofot) in selected participating countries⁵

E-wallet: Skrill and Neteller

Neteller & Skrill are E-money/E-wallet services acting under the Financial Conduct Authority (FCA) e-money regulation. Neteller and Skrill offers a global secure payment service to transfer money to and from TERAFX via the internet.

Real-time bank transfer: Sofort

Sofort - SOFORT is an online direct payment method and works on the basis of online banking as a REAL-time delivery method which means the delivery bank enrypts the payment information in order for the funds to credit instantly.

⁴ If you believe that you have deposited successfully but the funds have not reflected in your trading account, please inform us at funding@terafx.co.uk or our customer services team via live chat or at customerservices@terafx.co.uk so that we may quickly resolve this for you.

⁵ If you wish to deposit via one of these methods, but do not see the option available to you in your TeraFX Account after you log in, please contact the funding or customer services team at the above email address.

Broker to Broker:

If you wish to send funds from another broker, please email funding@terafx.co.uk or  customerservices@terafx.co.uk in order to obtain our transfer form first.

There is a minimum requirement of 5,000 USD/EUR/GBP per transfer and TeraFX can only accept funds from a broker who is Authorised and Regulated by the Financial Conduct Authority in the United Kingdom.

Debit and Credit Cards:

If your card details have changed since you last deposited, or you would like to register a new card with us, please make a deposit with your new card (minimum transfer limits/amount will apply as per table above). Please make our funding or customer services team aware if you are registering a new card and can no longer receive funds to an old one. Please note that TeraFX may request proof of your card details.

There are no fees incurred for the UK debit/credit cards. subject to minimum transfer amount as per table above. If you are using a non-UK debit/credit card, there may be instances where a small fee is charged, which can be refunded to your trading account upon receipt of proof of charges, subject to minimum transfer amount as per table above ⁶

⁶Please note that in rare cases, your credit card provider may treat payments made to us as a cash advance, and you will be billed by them accordingly. Please contact your card issuer if you are unsure of how they may treat your deposit to us.

Bank transfers/wire:

You can credit funds to your TERAFX account via bank transfer to our Royal Bank of Scotland or City Bank accounts in USD, EUR, GBP. We also accept PLN but only to Citibank PLN account. This cannot be done via the website, so please use your own banking facilities in order to make the transfer.

Bank account details for wire/bank transfer:

Up-to-date TeraFX bank account information which is relevant to your country by logging in to your Account via Login area on our website.

Payments up to a daily limit of £10,000 can be transferred using a same-day cash transfer service such as FastPay. Most of the retail banks will offer this service. (Please be aware that the daily limit may vary from bank to bank).

If you are making payments greater than £10,000 you can use the CHAPS service also available from your bank, this also is a same-day payment service. Please be aware your bank may charge you a fee for making a CHAPS payment.

BACS/International payments can be made but they can take up to 5 days to credit our bank account and as such we will not credit your trading account until funds have cleared at our bank.

Please quote your TeraFX trading account number as a reference when making a payment to us.

Please be aware that once a deposit has reached our bank account it can only be allocated in business hours (9am to 5pm UK time, Mon-Fri) If you wish to advise us of a transfer in order to ensure fast allocation, please contact funding@terafx.co.uk or  customerservices@terafx.co.uk.

If you are depositing in a currency which differs to GBP, EUR, USD and PLN please contact your bank for advice on conversion rates and charges that may occur before the funds reach us.

If we receive funds in a currency, which differs to the currency of your trading account, we will use our closing rates to allocate the funds.  Please contact funding@terafx.co.uk or  customerservices@terafx.co.uk if you wish to know the current day’s rates.

When deposit amount is less than 100 according to the related account’s currency (USD, EUR, GBP, PLN) TeraFX will not cover bank commission fees therefore it will be charged back to the client.

As part of our Anti-Money Laundering policy, we will always endeavour to return funds via the method and source from which they were deposited.

If there is profit made on your account or restrictions which prevent us from returning funds to the depositing card, we may return funds to your registered bank account. We are only able to do this if a bank document is provided containing the relevant information. You will be contacted by a member of our funding or customer services team if we require such information.

All withdrawal requests received on a business day before 2 pm (UK time) will be processed on the same day. Any requests received after this time will be processed on a best endeavours basis. If, when your request is processed, you do not have sufficient funds available for withdrawal then the request will be revoked.

To protect you and TERAFX from fraud we may request additional information such as proof of identity or bank statement from you before any withdrawal can be made.  When requesting withdrawal, please ensure you have sufficient capital to cover your open position, if you request full balance to be withdrawn, make sure all open positions are closed and email to funding@terafx.co.uk or customerservices@terafx.co.uk request your remaining funds.

In order to improve efficiency, we limit withdrawal requests to two per day. If you wish to modify your request before it is processed, then please email the payments team so we can check if this is possible to do for you.

If the withdrawal amount requested leaves a small remaining balance (€/$/£/zł 5 or less), then the whole amount will be withdrawn (providing all positions are closed).

E-wallet:

Withdrawals via E-Wallet have no charges involved, if withdrawal amount is 100 or more according to the related account’s currency (USD, EUR, GBP, PLN) unless it is a full account balance, and will be back in your E-Wallet within 2 business days. If you requested your full account balance to be withdrawn and were charged please contact funding@terafx.co.uk or customerservices@terafx.co.uk.

Debit and Credit Cards:

The refunded amount should reach your bank or credit card account 3 to 5 business days after the refund request. Withdrawals via Debit/Credit card have no charges involved if withdrawal amount is 100 or more according to the related account’s currency (USD, EUR, GBP, PLN) unless it is a full account balance. If you requested your full account balance to be withdrawn and were charged please contact funding@terafx.co.uk or customerservices@terafx.co.uk.

Please note that we do not keep your debit or credit card details on file.

Bank transfers:

When withdrawal amount is less than 100 according to the related account’s currency (USD, EUR, GBP, PLN) unless it is a full account balance TeraFX will not cover bank commission fees, therefore it will be charged back to the client. If you requested your full account balance to be withdrawn and were charged please contact funding@terafx.co.uk or customerservices@terafx.co.uk.

If you have deposited via bank transfer to TeraFX, then your withdrawal will be returned to the same bank account. In some cases, the details of your registered bank account may be incomplete on the inward payment, so we may ask for further proof of your account.^*****

^*****funds will only be sent in these currencies USD, EUR or GBP (PLN for clients who provided PLN account).

• TERAFX will not accept payments made by third parties (including family members) in accordance with anti-money laundering regulations.
• E-Wallet payments will not be automatically credited to any trading accounts in which the TeraFX registered name or email address does not correspond with the E-Wallet registered name or email address.
• Pay-outs are made exclusively to the same source (e.g. bank account or credit card) from which the deposit was made. If several sources were used for the deposit, please inform us of your preferred repayment source. TERAFX may, at its sole discretion, choose the source considered to be the most appropriate.
• If repayment to the same source is not possible for any reason (e.g. closing or changing a bank account), please inform us of your (re)payment preferences by e-mail or live chat. TeraFX can request additional documents as verification of the new source.
• Caution: Even if deposits via e-Wallets and credit cards are automated, an immediate booking cannot be guaranteed. It is therefore your responsibility to monitor your transactions at all times, which constitutes tracking the status of your account and ensuring that sufficient funds are available in your account in time to maintain your open positions. Any losses, or losses resulting from a delayed booking, will be covered by your liability. Should a delay occur during the booking, please inform us immediately by live chat and, if such a case occurs, we will respond with leniency.
• Please note our DW Policy cannot be exhaustive, and additional conditions or requirements may apply at any time due to regulations and policies, including those set in order to prevent money laundering. Please note any and all usage of the site and services is subject to the Terms of Business, as may be amended from time to time by TeraFX, at its sole discretion.
• For queries concerning policy matters, please contact us or see DW Policy – Full.

No refunds are allowed. Any withdrawal requests will be processed swiftly and as per our Deposit and Withdrawal Policy.