TeraFX vs Varianse

TeraFX or Varianse – which is better for UK traders 2024? Compare TeraFX and Varianse in this detailed breakdown of their platforms, features and fees.

TeraFX vs Varianse Comparison Table 2024
TeraFX Varianse
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rating full
2.6
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TeraFX is ranked #97 among CFD brokers. Varianse is ranked #97 among CFD brokers.
Review
Review
TeraFX is a London-based forex and CFD broker regulated by the FCA. The broker offers NDD market execution on a small range of instruments across currencies, indices and commodities. TeraFX prides itself on its multilingual 24/5 customer service, with client security in mind. Traders can access a range of account types, suitable for novices and pros alike. Varianse is an online broker offering unique instruments and powerful analysis tools.
Pros
  • Top-tier regulation by the UK's FCA, boosting the firm's trust and security score
  • Spread betting opportunities on 29 instruments with zero commissions and competitive minimum bets from £0.50
  • A good range of free deposit methods, including credit cards, bank transfers and e-wallets, plus 4 accepted currencies
  • VPS service available, providing lower latency and faster processing for algo traders
Cons
  • $100 minimum withdrawal
  • MT5 only available to spread betting clients
  • Narrow range of instruments compared to other brands, and no stocks
  • Very limited educational resources, with only webinars available
  • Limited spread transparency
Awards
  • Best Broker For Algo Traders, 2017 - Global Brands Magazine
  • Best New Forex & CFD Broker, 2015 - Global Banking & Finance Review
  • Most Innovative New Forex Brand, 2015 - Global Brands Magazine
  • Best New STP Broker, 2014 - Global Banking & Finance Review
FCA Regulated
Yes Yes
Instruments
Forex, CFDs, indices, commodities, cryptocurrencies Forex, CFDs, commodities, futures, custom FX & index baskets
Demo Account
Yes Yes
Minimum Deposit
$100 $500
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
FCA FCA
Mobile Apps
Yes Yes
iOS App Rating
rating empty
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Android App Rating
rating empty
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Margin Trading
No No
MetaTrader 4
Yes Yes
MetaTrader 5
No No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
No No
ECN Account
Yes No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
No No
Auto Trading
Yes Yes
Copy Trading
No No
Social Trading
No No
Trade Signals
No
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
Yes Yes
Commodities
  • Gold
  • Silver
  • Gold
CFD
Access a range of CFDs across commodities and indices, though with a $7 commission, this is not the most competitive rate compared to alternatives. On the positive side, the broker does offer appropriate and regulated leverage up to 1:30. Leveraged CFD trading is available on FX, indices, and commodities.
Leverage
1:30 (Retail), 1:200 (Pro) 1:30
FTSE Spread
Floating 1.3
GBPUSD Spread<
Floating 0.6
Oil Spread
Floating 0.05
Stocks Spread
N/A N/A
Forex
Trade 60+ currency pairs on the MT4 platform with low margin requirements. Traders can access the forex market from Sunday through to Friday with 24/5 broker support. Trade on a range of currencies with ultra-low spreads.
Assets
59 45
GBPUSD Spread
Floating 0.6
EURUSD Spread
Floating 0.1
EURGBP Spread
Floating 0.9
TeraFX Varianse
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