Teletrade Review

Review

TeleTrade is an online broker providing access to trades across a wide range of financial markets. It was founded in 2007 and received CySec regulation in 2010.Teletrad’s main office is located in Nicosia, Cyprus and it has over 200 offices in 30 countries and more than 3000 employees. Clients can trade Forex, as well as CFDs on commodities, stocks, futures and currencies.

Teletrade.eu is the recipient of two prestigious awards: Best Trading Platform Southern Europe 2013” and “Best Forex Customer Service Broker Europe 2013”.

Accounts

Teletrade offers two VIP accounts and one demo account.

Depending on the size of the deposit, traders may be assigned one of the two VIP-statuses: VIP GOLD with a deposit of $ 50,000 or VIP PLATINUM with a deposit of $ 500,000.

The VIP Gold account is available for trading 5 days a week during working hours-From 9.00 to 21.00. A monthly interest at the rate of 24% per annum is available on special concessional terms.

Trading in the VIP Platinum account is available at any time of the day, 7 days a week excluding specially declared public holidays and bank holidays.

A monthly interest at the rate of 28% per annum on special concessional terms is offered for this account.

TeleTrade VIP Accounts
TeleTrade VIP Accounts

Fixed spreads, rapid order execution and a personal account manager are offered for both and free admission to all workshops and training programs is available. There is also rapid replenishment of account at the expense of TeleTrade in the form of an interest-free loan for up to 2 weeks.

Features

A unique feature at Teletrade is what they call ‘Synchronous Trading.’  This is actually their social trading option.

Investment Synchronous Trading is a new way of investing in the financial markets and is conducted through a separate link (sync.teletrade.eu).  By using this advanced technology clients can monitor the group of successful traders--Masters Traders—and view their trading results and statistics. To diversity their risks, they can select several Masters, choose the most appropriate trading strategies and begin copying their trade.

All traders can become Master traders by registering a Master account and earning additional income for their successful trades. There's no need for them to make large investments or do anything other than just trade. The more Investment Account holders who copy a Master’s strategies, the greater the commission he/she stands to gain.

Master Traders Accounts on TeleTrade's Synchronous Trading
Master Traders Accounts on TeleTrade's Synchronous Trading

A list of Master Trader accounts is provided and traders can choose specific time frames from a year to all times. 

Additional trading tools are not offered.

Bonuses/Promotions

There are no real bonuses or promotions provided by TeleTrade. However, they do offer a generous monthly interest rate (24% on the Gold account and 28% on the Platinum account) which they consider a savings account bonus.

In addition, an advance refill of up to 20% of the deposit in the form of an interest-free loan for up to 2 weeks can also be considered a bonus.

Education

“Forex for Beginners’ is a special section of the website offers newbie traders who could use additional information in order to understand financial markets and CFDs before opening an account and placing a trade.

Topics covered include ‘What is Forex About’, ‘What is the Stock Market About,’ ‘What are CFDs’, ‘All About Markets’ and ‘Who is the Trader?’

TeleTrade Education for Beginners
TeleTrade Education for Beginners

It offers educational material is in the form of graphs and analysis that will show them how and how much they can earn over the past week, how market  fundamentals affect the change in prices of various assets and how to understand the basics of market analysis.

There is also a variety of resources for all traders which include ebooks, lecture notes, CD and DVD videos and traders can ‘meet’ real professionals via free in-house seminars and workshops are held at local TeleTrade offices.

Weekly analysis accompanied by graphs is presented on currencies, gold, oil and stocks.

News and market focus are presented on a daily basis and an economic calendar keeps traders up-to-date on events taking place throughout the world.

TeleTrade Market Analysis and News
TeleTrade Market Analysis and News

Deposits/Withdrawals

Funding for TeleTrade accounts can be made via Wire transfer, Qiwi, RBKmoney, Yandex.Money, PayOnline, WebMoney and Credit/debit cards.

Withdrawals are made using the same method chosen for deposits.

Customer Support

Traders can contact a Teletrade representative by telephone to the Nicosia office or by email and fax. Suggestions, complaints and feedback can be sent via an online form. At first I was unable to see any live Chat and was surprised that this was not available. On closer inspection, however, I discovered that it was offered as “online-consultant.”

Conclusion

TeleTrade is a broker with international reach. The website offers some good features but seems to missing what would be considered pretty standard fare. There are no real bonuses or promotions which is definitely lacking. In addition, there are scant details provided for the two accounts.

In addition, blatantly missing is a FAQ section which is always useful for both new and experienced traders who need answers to an assortment of questions and concerns.  Deposit and withdrawal information is also not readily available and when doing this review, I had to look to other sources to find the acceptable means for funding an account. A financial glossary would also be appreciated. 

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Features

The best feature at TeleTrade.eu is their choice of trading platform. The MetaTrader 4 is certainly one of the most popular platforms around today and it’s good to see that forward looking brokers are beginning to offer the MetaTrader 5 platform as well. Teletrade offers the MT4 and MT5 in all possible versions so Teletrade account holders can access their accounts and place trades from wherever they are and from whatever mobile device they are using.

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Platforms

MetaTrader 4 and MetaTrader 5

TeleTrade clients can trade using the popular MetaTrader 4 platform in a number of different versions: MetaTrader 4, MetaTrader 4 MultiTerminal or MetaTrader 5. Downloading the relevant file is standard procedure and it does not require any specialized knowledge. A web version is also available.

TeleTrade MetaTrader 4 Platform
TeleTrade MetaTrader 4 Platform

These innovative and easy-to-use platforms enable traders to perform complete technical analysis, predict market movements and conduct trading transactions with utmost efficiency.

Both the MetaTrader 4 and 5 is free of charge for all TeleTrade customers.

TeleTrade MetaTrader 5 Platform
TeleTrade MetaTrader 5 Platform

Mobile

Mobile versions of the MT4 platform are available for iPad, iPod touch and iPhone. All the versions allow traders to trade on real and demo accounts,  view quotes of financial instruments in real time,  use the market and pending orders, trade directly from the charts and view their full trading history.

TeleTrade Mobile Platform
TeleTrade Mobile Platform

The Mac OIS version of MT4 runs with the help of Wine, a free software that allows users of systems like Unix to run applications developed for use on Microsoft Windows including one for Mac OS.

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General Information

Company Information

  • Broker's Name : TeleTrade
  • Headquarter : Cyprus
  • Regulation : CySEC

Account Information

  • Type of Broker : No Dealing Desk
  • U.S. Clients Allowed :
  • Minimum Deposit : None
  • Maximum Leverage : 1:200
  • Commissions / Spreads : Spread
  • Account 1 : VIP Gold
  • Account 2 : VIP Platinum
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Institutional Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

  • Type of Platform : MetaTrader 4, MetaTrader 5
    • Platform Languages :
      • English
      • Russian
    • OS Compatibility :
      • Mac
      • Windows
      • Mobile
      • Web
      • iPhone
      • iPad
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :

Customer Support

    • Website Languages :
      • English
      • Russian
  • Support Hours : 24/5 and 24/7
  • E-mail Support :
  • SMS Support :
  • Chat :

Pros and Cons

  • Demo Account
  • MT4 and MT5 Platforms
  • No Real Bonuses or Promotions
  • Missing Information

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User Reviews

Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted.

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed.



6 User Reviews
Jordan Morris

In my opinion, TeleTrade is a real discovery that has changed my attitude to the market. It's because there is not only a normal terminal here, but also a normal, high-quality attitude to clients. Because if you have any question or difficulty, you will definitely get an answer to your question and qualified help. You will be ignored in the daytime or shift the responsibility to you, everything is solved quickly and competently, after communicating with the manager there are only pleasant impressions. It seems to me that it is worthy, because earlier I often faced with the neglect of brokers, it is a real problem.

Marcel Scherrer

Lagar, sorry, mate, but I can't understand what's the reason to divide capitals between two or even more brokers, as that distract trader from concentrating on trading, as you need constantly to switch between different brokers. TeleTrade has everything to be the choice number #1, you already counted them all: 1. CySEC regulation. European Union regulations are strict and that's hard to obtain such regulation 2. Spreads are okey, if we take in account the number of services that broker provides. 3. Sync trading. However, since the beginning of 2020 the minimum deposit is now $100, but that's still extremely low.

Lagar

I couldn't settle with one brokerage, so divided my capital in two and so far I think that Teletrade is definitely more suitable for my needs. The needs are following. Reliability. Certificates and regulation by CySEC is definitely a big pro of Teletrade. Secondly, there is no limit on the minimal deposit, ok spreads and leverage. If you want to lower the leverage or increase it you can contact support and they will help you with it. Generally its 100-200X for leverage here. And most importantly Teletrade offers some opportunities for passive investments, when you simply follow someone else's plan with your account. Definitely you choose the trader to follow yourself.

Reubok

I don't think I've even seen a better deal on forex market. its definitely not all about spreads. If you think about it well, spreads is only a tiny bit of what broker is responsible for. Just one out of dozen parameters that you have to check before you choose a decent brokerage. I love the added value that teletrade offers as a bonus to all its customers. First of all this is a chance to grow as professional trader by participating in company's rankings. If you didn't know, you can gain some investors if your live trading account shows positive dynamics. You will be getting 10-20% of profits gained by the accounts that have followed you. Isn't it a fantastic opportunity? Among other bonuses I can mention free analytics. Not an economic calendar!!! These are real analytics of stocks performance that can really help balance your long-term investment portfolio. Guess I have to mention some features that you won't find here in comparison to other brokerages. Well, spreads are average, not the best offer among all brokers. On the other hand I guess its normal for regulated and licensed brokerages to have a bit higher spreads than unregulated ones have.

Olga

Recently I made a request for withdrawal and was worried about the reability of Teletrade, but everything went without delay, was able to withdraw money and transfer to the card without any problems.

KOWALSKIfx

I have been trading with Teletrade for a long time, the result is there, I bring the profit to the card, there are no questions

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