From TeraFX to Gildencrest Capital: Rebranding Set for February 1, 2024

<p>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 February 1, 2024. According to the company, this rebranding represents a
move aimed at redefining its identity and position in the market.</p><p>Continuity amid Change</p><p>Despite the change of its name, Gildencrest Capital
reassured its clients in an email shared with <a href="https://www.financemagnates.com/" target="_blank" rel="follow">Finance Magnates</a> 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 <a href="https://www.financemagnates.com/tag/terafx/" target="_blank" rel="follow">TeraFX</a>, now under the banner of Gildencrest
Capital.</p><p>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.</p><p>Last year, Tera Europe Limited <a href="https://www.financemagnates.com/forex/brokers/tera-europe-records-38m-cfds-income-in-2022-reducing-retail-exposure/">disclosed impressive financial performance</a> 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 <a href="https://www.financemagnates.com/terms/f/forex/">forex</a> business experiencing a surge of 64%, reaching £18.9 billion.</p><p>Profitability and Market Expansion</p><p> 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.</p><p>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.</p><p>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 <a href="https://www.financemagnates.com/terms/c/compliance/">compliance</a>
and market expansion initiatives.</p>

This article was written by Jared Kirui at www.financemagnates.com.