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Terra Finance

Luxembourg|2-5 years|
Suspicious Scope of Business|High potential risk|

https://terra-finance.co

Website

Rating Index

Contact

+74-997-54-58-49
compliance.en@terra-finance.co
https://terra-finance.co
https://www.facebook.com/terrafinance.co/

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

English

+74-997-54-58-49

Spanish

+34-93-220-58-58

German

+43-72-002-20-69

Russian

+74-95-133-17-62

Broker Information

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Company Name

Terra Finance

Company Abbreviation

Terra Finance

Platform registered country and region

Luxembourg

Company website
Facebook

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-06-13
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Terra Finance · WikiFX Survey

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Terra Finance · Company Summary

General Information & Regulation

Terra Finance is an offshore broker that advertises trading in forex, indices, stocks and commodities, and says to be a broker operating out of Luxembourg. They havent provided any other relevant company information, nor have they clarified the trading conditions, which are huge red flags. There is not much information about the company that stands behind this website. We could not find out where it is registered, or if it is licensed to operate as a financial institution by any regulation authority. Obviously, Terra Finance is an unregulated broker.

Blacklisted by the CNMV

As an anonymous and unregulated broker, Terra Finance is not entitled to operate on any regulated financial market, such as the USA, Canada, Australia or the EU. Nonetheless, they obviously do, as the Spanish financial watchdog, the CNMV, has put out a warning against them.

Markets Instruments

Terra Finance offers trading in a lot of currency pairs, CFDs on indices, commodities, precious metals, world shares, and cryptocurrencies like Bitcoin.

Minimum Deposit

As per Terra Finances requirement, opening an real trading account requires $250. Although this requirement seems reasonable, given the fact that Terra Finance is an unregulated broker, traders had better not register accounts here.

Leverage

Terra Finance offers leverage of 1:100. In Europe and the US leverage for retail brokers is capped at 1:30 and 1:50, respectively, by the regulation authorities. High leverage provides huge profit potential, but it also presents great risks to the traders because any losses incurred will be multiplied.

Spreads & Commissions

Terra Finance claims to offer spreads starting from 1.1 pips on their home page. This is not what we see on the trading platforms however. The demo MT4 account indicated 2 pips for EURUSD, while in the Webtrader it is even larger – 3 pips. With regulated brokers this most traded currency pair rarely comes with spreads larger than 1 to 1.5 pips, as this would only guarantee hefty profits for the broker while making no returns for the traders.

Trading Platform Available

Terra Finance advertises the MetaTrader 4 (MT4) trading platform on their website. In the trading area, there are download links for Desktop and Mobile (iOS and Android) applications. MT4 is considered the worlds number one platform, preferred by over 80% of users. It offers an intuitive and user-friendly interface, advanced charting and analysis tools, as well as copy and auto-trade options.

Deposit& Withdrawal

There are a number of payment provider logos in the footer of the brokers website, including major credit cards, such as VISA and MasterCard. This is a common trick used by scam brokers to make you believe you can use such methods to deposit with them. As it usually turns out, however, there are no such options when you get to the cashier. Most respected brokers also have PayPal and other preferred by traders e-wallets, eg. Skrill and Neteller.

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