Company Profile
A forex and CFD broker founded in 1994 with a very long history in the forex industry is TeleTrade. TeleTrade presents a total package of trading opportunities, a very competitive spread in the market, and also with various account types. TeleTrade's office is in Cyprus, and it has an international reach because institutional and retail clients use its services. TeleTrade boasts of user-friendly platforms and quality educational materials, making it a trustworthy place to trade for both novices and experts.
Advantages and Disadvantages
Advantages
- Tight spreads
- A wide range of deposit and withdrawal methods
- Diversity of financial assets
- An extensive set of analytical tools
- Quality customer support
Disadvantages
- High commission on ECN and NDD accounts
- High swaps
- Long withdrawal request processing time
- Lack of educational materials other than articles
Security
TeleTrade is regulated by CySEC and also by MiFID II legislation of the European Union which brings about transparency and protection to the trader's system. The safety measures provided by the broker include:
- Segregated Accounts: Client-affiliated funds to keep broker funds separate from the operational accounts. Trader insolvency will be protected up to €20,000 by the investor compensation fund (ICF).
- Secure data access and transmission, since they utilize encryption protocols.
Financial Instruments
TeleTrade grants traders access to a diverse range of financial instruments:
- Forex: Over 50 currency pairs are available, including majors, minors, and exotics.
- Indices: Leading global indices available include NASDAQ, S&P 500, and FTSE 100.
- Stocks: The platform offers leading US, European, and Asian companies' CFDs on their shares.
- Commodities: Includes gems, energy, agricultural goods.
- ETFs: For a diversified portfolio of investments, the trading platform offers exchange-traded funds.
Account Types
NDD
Minimum deposit | 0 |
---|---|
Commission | 0.8 |
Available tools | 0 |
Leverage, min | 1:1 |
Leverage, max | 1:500 |
Margin call level | 100 |
Stop-out level | 20 |
Invest
Minimum deposit | 0 |
---|---|
Commission | 0.0 |
Available tools | 0 |
Margin call level | 100 |
Stop-out level | 10 |
ECN
Minimum deposit | 0 |
---|---|
Commission | 0.2 |
Available tools | 0 |
Leverage, min | 1:1 |
Leverage, max | 1:500 |
Margin call level | 100 |
Stop-out level | 20 |
CENT
Minimum deposit | 0 |
---|---|
Commission | 0.8 |
Available tools | 0 |
Leverage, min | 1:1 |
Leverage, max | 1:500 |
Margin call level | 100 |
Stop-out level | 20 |
Costs and Commissions
The fees and commissions are quite interesting with TeleTrade:
- Forex Spreads: As low as 0.8 pips depending on account types.
- Stock CFDs: Commissions depend on the region or exchange and are variable.
- Non-Trading Fees: Inactivity fees apply only if accounts become unused for certain long periods.
Trading Platforms
Available tools | Forex, metals, indices, energy resources, stocks, cryptocurrencies |
---|---|
Cryptocurrencies | BTC, ETH, XRP, LTC, BTC Cash, DASH, EOS, XLM |
CFD | Cryptocurrency: 50 Stocks: 220 Bonds: 2 |
TeleTrade provides cutting-edge software which includes these two trading platform elements:
- MetaTrader 4 (MT4): Offers accessible charting tools, technical indicators, and algorithmic integration.
- MetaTrader 5 (MT5): Advanced features like an economic calendar, offering more asset classes.
- TeleTrade MobileFX: iOS and Android apps make the above platforms mobile.
Client Assistance
TeleTrade uses different means of communication in answering customer questions:
- Live chat
- Telephone for immediate inquiries only during office hours
Material for Education
Consists of webinars, tutorials, and market analysis information.
Education content | Yes |
---|---|
Education score | 4.5 |
Opening an Account
Account opening is an easy process for TeleTrade:
- An individual is free to visit the TeleTrade site from where the registration will be completed online.
- Identification documents should be ready for the verification process.
- Afterwards, one chooses the account by payment method.
- Funds are placed into an account before one begins trading.
Deposits and Withdrawals
To fund or withdraw money in their accounts, they can use many methods TeleTrade provides:
- Methods for Payment: Bank transfer, credit or debit cards, e-wallets like Skrill or Neteller.
- Processing Time: It might take one business day for a deposit, and a withdrawal uses between 1 and 3 business days.
- Fees: Deposits may come without any fee, but the withdrawal will depend on the payment method.
FAQ
Does TeleTrade have internationally known traders under their wing?
Of course; other brokers have TeleTrade demonstrating some international recognition.
What can be understood from trading platforms?
Desktop, web, and mobile trading: MetaTrader 4 and MetaTrader 5 provide the same services as trading on the web and mobile devices.
What is the lowest account deposit?
Around $100 with most of them.