FNG Exclusive… FNG has learned that London based, FCA licensed Retail FX and CFDs broker TeraFX is rebranding to Gildencrest Capital. The formal rebranding takes effect as of tomorrow, February 1, 2024.

The name of the FCA licensed company operating the brand is also changing in parallel, from Tera Europe Limited to Gildencrest Capital Limited. The new website will be gildencrestcapital.co.uk. It is still unclear if the group will fully retire the current terafx.com website.

Tera Europe / Gildencrest is a subsidiary of Tera Financial Holdings Ltd, and ultimately of Turkish investment firm Tera Yatirim. Tera Yatirim is controlled by Turkish businessman and former politician Oğuz Tezmen, and his son Emre Tezmen. The Tezmens control Turkish investment bank Tera Yatirim with a more than 80% holding. Tera Europe Ltd has been licensed by the FCA since 2012, and the group also holds a Dubai DFSA license. Oğuz Tezmen was Turkey’s Minister of Transport in the mid-1990s.

In 2021, the group hired former Renaissance Capital and Goldman Sachs executive David George as CEO of the UK entity in London.

In its most recently reported year (2022), TeraFX did £5.0 million in Revenue, posting a Net Profit of £1.5 million. The broker did a total of £18.9 billion of trading volume in 2022, or about USD $2 billion monthly.

The company has sent out the following note to clients about the changes:

Dear Valued Clients,

We hope this message finds you well. We would like to inform you of a recent update regarding our company.

Effective 01 February 2024, Tera Europe Limited officially changed its name to Gildencrest Capital Limited.

Please note that all that has changed is just our name, our team remains dedicated to providing you the same high-quality service you have been receiving. There is no impact on your account details, login credentials, or any other aspects of your relationship with us. Your account numbers, login details, and all other relevant information remain unchanged.

We appreciate your continued trust and support. If you have any questions or concerns regarding this name change, please don’t hesitate to contact our customer support team at customersupport@gildencrest.co.uk.

Thank you for being a valued client.

Best regards,

Gildencrest Capital Limited