TeraFX, a renowned FCA-licensed broker in retail FX and Contract for Difference (CFD) is undergoing a significant transformation as it rebrands itself to Gildencrest Capital, effective from February 1, 2024. According to the company, this rebranding represents a move aimed at redefining its identity and position in the market.

Continuity amid Change

Despite the change of its name, Gildencrest Capital reassured its clients in an email shared with Finance Magnates that its core values and commitment to delivering high-quality service remain unwavering. Clients can expect the same level of professionalism, reliability, and dedication that they have come to associate with TeraFX, now under the banner of Gildencrest Capital.

Users' account details, login credentials, and all other pertinent information will remain unchanged. According to the firm’s communication, clients can access their accounts and continue trading without disruption, ensuring a smooth experience throughout the rebranding process.

Last year, Tera Europe Limited disclosed an impressive financial performance for 2022, showcasing a remarkable surge in turnover and strategic shifts in its business model. Tera Europe's financial report indicated a substantial increase in trading volume, with the forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term business experiencing a surge of 64%, reaching £18.9 billion.

Profitability and Market Expansion

Despite facing market volatility attributed to global events like the conflict in Ukraine and inflationary pressures, the company's equities trading experienced an upturn of 50%, amounting to £547 million. The company emphasized a shift from the forex business to the Capital Market Securities Business, aiming to diversify its product offerings and brokerage activities to adapt to market dynamics.

Despite escalating sales and administrative expenses, Tera Europe concluded 2022 with a commendable pre-tax profit of £1.6 million, a significant turnaround from the previous year's loss. The company's net profit after taxes stood at £1.5 million, reflecting its resilience amidst challenging market conditions.

Tera Europe is expanding its footprint into European markets in line with its strategic objectives. It has initiated the process of acquiring a Polish license, signaling its commitment to regulatory compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term and market expansion initiatives.