Tera Trade Review: Analyzing Offshore Broker Claims and Their Authenticity

Is Tera Trade legit? TeraTrade portrays itself as a reliable offshore broker. It highlights fixed spreads, quick execution, and diverse trading instruments. Yet, signs suggest its legitimacy might be questionable. Stay tuned for more insights in our Tera Trade review! 

Tera Trade: Legitimacy and Safety of Funds

At first, TeraTrade states that its website is run and owned by Orion Solutions LLC. This is a company registered in St. Vincent and the Grenadines. It’s important to note that St. Vincent and the Grenadines (SVG) is a Caribbean offshore area known for lax regulations, which can attract fraudulent activities.

Yet, it’s very unlikely that the TeraTrade website is truly owned by Orion Solutions LLC because the SVG registry doesn’t list similar websites for the registered companies. Even if it were true, having an offshore license doesn’t make Tera Trade broker significantly more reliable.

This broker’s scam tactics triggered warnings from CNMV and IOSCO. This is a caution for investors against potential risks associated with their operations.

Regulated Brokers

For traders who want to make good decisions, a valid license is a crucial factor when choosing a broker. Unregulated and offshore brokers might make tempting claims, but without regulation, these promises might not hold up. 

Also, clients’ funds could be at risk without any legal protection. So, it’s important to thoroughly research before investing.

To distinguish between regulated and unregulated brokers, here’s a list of regulations that EU-regulated brokers adhere to. They must hold a license from a financial regulator in an EU member state and follow ESMA guidelines.

• They need to maintain a minimum net capital of EUR 730,000.
• Clients’ funds must be kept in separate accounts.
• They’re limited to a leverage of up to 1:30 for retail traders to reduce risks.
• They should take part in client compensation schemes (usually up to EUR 20,000 in most EU countries).
• Regular transaction reporting is a must for better investor protection.
• They provide negative balance protection.
• Trading bonuses are not offered.

It’s important to note that their legal documents contain various fonts and typos. This is a significant red flag!

TeraTrade’s Basic Platform

Tera Trade provides a simple web-based trading platform. To ensure a better trading experience, consider brokers with refined software like MetaTrader. MetaTrader is a well-known trading platform known for its ease of use and powerful features. MetaTrader 4 suits beginners with intuitive charts, varied time frames, and strong analysis tools. 

Meanwhile, MetaTrader 5 enhances this for experienced traders, offering features like market depth and partial order execution. Choosing brokers with refined platforms can lead to more thriving trades and a better trading journey overall.

Trading Assets Available

This questionable broker raises concerns because they haven’t provided any information about their trading assets. 

Their website is completely dysfunctional and lacks any useful content. It’s a clear sign of unreliability. It’s wise to opt for brokers who prioritize transparency and provide clear details about their trading assets. 

Those are often CFDs, FX, crypto, indices, bonds, and metals. Your investments deserve a trustworthy platform.

Trading Conditions at TeraTrade

TeraTrade doesn’t provide much information about its trading conditions. Still, it mentions negative balance protection, fixed spreads, and Stop Loss/Take Profit functions. This lack of transparency is a clear red flag. Forex brokers that keep their trading practices hidden can potentially harm investors. In contrast, reliable forex brokers are open about their trading terms.

Moreover, TeraTrade’s platform requires a minimum deposit of $1000 to open a trading account. This is significantly higher than the industry standard of around $200. Namely, this difference is worth noting and considering carefully.

What’s more, we’ve calculated a wide EUR/USD spread of 3 pips for Tera Trade, much higher than the attractive 1.5 pip rate offered by other brokers. This is something to think about before trusting them with your money. Luckily, there are plenty of trustworthy brokers that offer competitive spreads.

Besides, TeraTrade displays a 1:100 leverage ratio – a potentially risky level.

Note: For a secure trading experience, choose regulated brokers like Ctrl Investments. Protect your investments and always trade with confidence.

Tera Trade Withdrawal Options

TeraTrade offers many deposit methods, such as credit cards, IpassPay, and crypto tokens like Bitcoin, Ethereum, and USDT. However, it’s important to be cautious about entrusting your crypto with the wrong broker, as the growing popularity of crypto has attracted dishonest people. 

Falling prey to a scam can result in the loss of your assets. To stay safe, it’s crucial to be mindful and select a reputable broker. Keep in mind that once your cryptocurrency is lost, it will be much harder to recover it.

Beware of Deceptive Broker Tactics

Deceitful brokers have various tactics to scam you. You will see certain withdrawal issues nearly always. Likewise, you may encounter strange fees. Keep in mind that there are unreal high fees, regularly surpassing 20%. Those fees will often have another name – withdrawal processing fees.

Similarly, there’s virtually always a profit fee. Fake brokers and websites want you to pay for these in advance.

Also, there are irrational guaranteed returns. This is another famous deception method that you should be aware of. Fraudsters will always promise you huge guaranteed returns. Note that trading with favorably leveraged instruments carries considerable risks. Any broker fraud will try to persuade you that your returns are 100% guaranteed.

Please try to use brokers that are regulated and avoid fake ones like KonohaFX or Tera Trade. This is the unwritten rule!

Trader Reviews: A Low 1.9-Star Rating on Trustpilot

Teratrade.co has received poor reviews, with a low 1.9-star rating on Trustpilot. Many people complained they got kicked out after they deposited money. 

It’s important to consider such reviews seriously, as they can greatly influence your decision. 

Opting for brokers with positive reviews and solid reputations is a safer choice. Namely, it ensures a more reliable and easy trading experience.

Long Story Short – Tera Trade

So, is Tera Trade safe? In light of TeraTrade’s unclear ownership, limited transparency, and negative 1.9-star Trustpilot rating, traders must exercise caution. 

Engaging with brokers like Tera Trade or Capitalix may pose potential risks, urging us to turn our attention to regulated choices with positive client reviews. This careful strategy ensures a more secure trading environment for both novice and skilled traders.

Ultimately, to have a reliable broker on your side, contact us today! We’re here to help you out!

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