TP Global FX vs TeraFX

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

TP Global FX vs TeraFX Comparison Table 2024
TP Global FX TeraFX
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3.9
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2.6
TP Global FX is ranked #97 among CFD brokers. TeraFX is ranked #97 among CFD brokers.
Review
Review
TP Global FX has closed or no longer accepts UK clients.
TP Global FX is an offshore broker with a strong focus on education and technical analysis tools. It offers STP pricing and up to 1:500 leverage on 50+ forex pairs and a smaller range of stocks, indices, commodities and cryptocurrencies. The broker supports the MetaTrader 4 and MetaTrader 5 platforms and offers additional services including copy trading and an informative daily blog. 		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.
Pros
  • Good range of frequently updated educational resources
  • Demo profile with unlimited simulated funds
  • Very tight spreads from 0.2
  • Support for MT4 and MT5
  • Copy trading service
  • Accepts crypto deposits
  • ~30ms execution speeds
  • High leverage available
  • True STP pricing
  • 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
  • Limited consumer protections in place including negative balance protection
  • High commissions of $15/$8 for the low-spread accounts
  • Not overseen by any top-tier regulators
  • Narrow choice of deposit options
  • Small range of non-forex assets
  • $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
  • Most Transparent Broker 2021 - Forex Broker Awards
  • Best FX Educational Broker 2021 - Forex Broker Awards
  • Best Affiliate Program 2021 - Forex Broker Awards
FCA Regulated
No Yes
Instruments
Forex, CFDs, indices, commodities, cryptocurrencies Forex, CFDs, indices, commodities, cryptocurrencies
Demo Account
Yes Yes
Minimum Deposit
$200 $100
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
SVGFSA, VFSC, CAMA FCA
Mobile Apps
Yes (iOS & Android) Yes
iOS App Rating
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Android App Rating
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Margin Trading
Yes No
MetaTrader 4
Yes Yes
MetaTrader 5
Yes No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
Yes No
STP Account
Yes No
ECN Account
No Yes
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
Yes No
Auto Trading
Expert Advisors (EAs) on MetaTrader Yes
Copy Trading
Yes No
Copy Trading Platform
Follow and copy multiple professional traders using performance analytics and market signals at TP Global FX.
Social Trading
Yes No
Trade Signals
Yes
VPS Hosting
No No
Tournaments
Yes No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
Yes Yes
Account Currencies
  • USD
Commodities
  • Gold
  • Silver
  • Copper
  • Oil
  • Gasoline
  • Cocoa
  • Coffee
  • Corn
  • Cotton
  • Aluminium
  • Natural Gas
  • Sugar
  • Gold
  • Silver
CFD
TP Global FX clients can trade CFDs on forex as well as around 12 stocks, 12 indices, five cryptocurrencies and commodities including gold, silver oil and gas. CFDs trade with up to 1:500 leverage on the hugely popular and reliable MT4 and MT5 platforms. 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.
Leverage
1:500 1:30 (Retail), 1:200 (Pro)
FTSE Spread
Not offered Floating
GBPUSD Spread<
From 0.2 pips Floating
Oil Spread
From 0.2 pips Floating
Stocks Spread
From 0.2 points N/A
Forex
TP Global FX offers trading on 50+ forex pairs with a good selection of minors and exotics as well as the majors. The broker offers fast 30ms execution speeds with a Straight-Through Processing system. Very tight spreads starting from 0.2 are available on pro accounts, while standard commission-free account spreads start from 1.2. 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.
Assets
50+ 59
GBPUSD Spread
From 0.2 pips Floating
EURUSD Spread
From 0.2 pips Floating
EURGBP Spread
From 0.2 pips Floating
Cryptocurrency
TP Global FX offers CFDs on five cryptocurrencies paired with USD. Spreads are lower than many alternatives and users can trade crypto 24/7 without interruption.
Spread
Variable Trade top crypto pairs on MT4.
Coins
  • BTC
  • ETH
  • LTC
  • XRP
  • EOS
  • BTC
  • ETH
  • LTC
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
TP Global FX TeraFX
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