摘要: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.
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.