Terra Finance Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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Please help me recover the money. I transferred more than 10,000 USD, because they promised me that profit rate would exceed 95%. But after depositing, It has not been enabled so far.
Summary: Terra Finance has garnered significant criticism across various platforms, primarily due to its unregulated status and numerous negative user experiences. Key concerns include difficulties in fund withdrawals and a lack of transparency regarding its operations.
Note: It is essential to highlight that Terra Finance operates under different entities across regions, which may affect user experiences and regulatory oversight. This review aims to provide a balanced perspective based on available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service & Support | 2 |
| Trading Setup/Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
How We Rate Brokers: Ratings are based on user feedback, expert opinions, and factual data regarding the broker's operations.
Founded in 2019, Terra Finance operates as an online trading platform offering Forex, CFDs, and cryptocurrencies. Despite its claims of providing a robust trading experience, the broker lacks regulatory oversight, which raises significant concerns about its legitimacy. It primarily utilizes the MetaTrader 4 (MT4) platform, a popular choice among traders for its advanced charting capabilities and user-friendly interface. The broker claims to offer a diverse range of trading instruments, but the specifics remain vague.
Terra Finance is not regulated by any major financial authority. Reports indicate that it has been blacklisted by several regulatory bodies, including Spain's CNMV, Italy's CONSOB, and Peru's SBS, for operating without authorization. This absence of regulation is a significant red flag, as it implies that clients have no protection against potential fraud or mismanagement of funds.
The broker accepts deposits in various currencies, including traditional fiat currencies and potentially cryptocurrencies, although specifics are not clearly outlined. The minimum deposit requirement is set at $250, which is relatively low compared to other brokers. However, users have reported severe difficulties when attempting to withdraw their funds, often facing excessive delays or outright denials.
Currently, Terra Finance does not appear to offer any promotional bonuses. This lack of incentives may be indicative of its focus on maintaining a straightforward trading environment, but it could also reflect its unregulated nature.
Terra Finance claims to offer a wide array of trading instruments, including Forex pairs, commodities, indices, and cryptocurrencies. However, the lack of transparency regarding the specific assets available raises concerns about the broker's credibility.
The broker mentions spreads starting from 1.1 pips, but user experiences suggest that actual spreads can be much higher, sometimes reaching 3 pips for major pairs like EUR/USD. Additionally, there are reports of hidden fees that users encounter during the withdrawal process, further complicating the trading experience.
Leverage is advertised at 1:100, which is considerably higher than what regulated brokers typically offer. While high leverage can amplify profits, it also significantly increases risk, particularly for inexperienced traders.
Terra Finance primarily operates on its own version of the MT4 platform, which is widely recognized for its robust trading features. However, the absence of a well-established trading platform raises questions about the broker's reliability.
As an unregulated entity, Terra Finance may not be permitted to operate in certain jurisdictions. Users from regions with strict regulatory frameworks should exercise extreme caution.
Customer service options appear limited, with reports indicating that responses may be slow or non-existent once funds have been deposited. This lack of reliable support is a significant concern for potential investors.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service & Support | 2 |
| Trading Setup/Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
Account Conditions: The account types offered by Terra Finance include various tiers, starting from the Enthusiast account with a minimum deposit of $250. However, the lack of regulatory oversight raises questions about the safety of these accounts.
Tools and Resources: While the MT4 platform is a strong point, the overall lack of educational resources and market analysis tools limits the effectiveness of the trading experience.
Customer Service & Support: User reviews consistently highlight poor customer service, with many claiming that support becomes non-responsive post-deposit.
Trading Setup/Experience: The trading experience is marred by reports of high spreads and withdrawal issues, leading to a frustrating experience for many users.
Trustworthiness: Given its unregulated status and numerous warnings from financial authorities, Terra Finance is deemed highly untrustworthy.
User Experience: Overall user experiences are predominantly negative, with many traders reporting difficulties in accessing their funds and receiving support.
In conclusion, the Terra Finance review paints a concerning picture of a broker that lacks regulation, transparency, and reliable customer service. Potential investors should approach with caution and consider regulated alternatives to safeguard their investments.
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