TeleTrade review and ratings

Established 2000
Location Saint Vincent and the Grenadines
Regulation None
Offices Kingstown, Prague
Broker type STP | ECN
Leverage up to 1:500
Deposit from 10 USD
Spreads low  low
Platforms Web MetaTrader 4 MetaTrader 5
Instruments Currencies Crypto Indices Metals Energies Softs Stocks Bonds
Funding methods Wire Transfer Credit Cards Skrill Neteller FasaPay Bitcoin Tether

Company information

Teletrade is a legally registered forex broker located in Saint Vincent and the Grenadines, but not regulated by any government agency.

Availability

TeleTrade accepts clients from all over the world, excluding USA, Canada, Sudan, Yemen, Myanmar, Iraq, Syria, North Korea and some other FATF blacklisted countries.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

70+ Currency Pairs Based on major and minor world currencies.
70+ Crypto Pairs Based on various top-rated coins and tokens.
20+ Indice CFDs Based on baskets of different blue-chip stocks, US Dollar Index and Volatility Index.
17 Metal CFDs Based on Gold, Silver, Platinum, Palladium, Lead, Nickel, Copper, Zinc.
3 Energy CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.
7 Soft CFDs Based on Cocoa, Coffee, Corn, Cotton, Soybean, Sugar, Wheat.
2 Bond CFDs Based on US and German government securities.
100+ Stock CFDs Based on shares of US and EU companies.

Comprehensive review

TeleTrade is a forex & CFD broker based out of the offshore jurisdiction of Saint Vincent and the Grenadines in the Caribbean. From here, the broker serves traders all over the world, with the usual exception of residents of the US, Canada, and a few other countries.

A notable thing about TeleTrade is the “Synchronous Trading” service it offers. This is basically what is otherwise known as copy trading, but all traders that can be copied are listed for everyone to see on the broker's website. This makes it easy for new traders to compare and evaluate the performance of experts they would like to copy, and it includes metrics such as a 14-day performance, drawdowns, average daily profits, and the fees for copying them. The list of traders to copy can also be filtered based on a number of different criteria, making it easy to find the best person to copy.

In terms of trading instruments, TeleTrade offers everything from stocks to bonds, stock indices, forex, commodities, and cryptocurrencies, all in the form of highly leveraged contracts-for-difference (CFDs).

The selection is particularly good for cryptocurrency CFDs, with more than 70 different crypto pairs to choose from. And with the leverage that comes with CFD trading, making significant profits (and losses!) is possible even with just a small trading account. Similarly, the broker also offers over 70 forex pairs for trading, which is significantly more than what most other brokers we have reviewed offer.

All of the instruments offered by TeleTrade can be traded on either the MetaTrader 4 or 5 (MT4/MT5), or on the web-based version of the same trading platform. Although both of these platforms are rather old by now, the clear benefit of offering them is that so many traders are already familiar with them. As such, getting traders to make the switch from another broker to TeleTrade becomes much easier. In addition, lots of independent traders also love the MetaTrader platforms for their ability to program and use “Expert Advisors,” or automated trading algorithms.

As many other forex brokers, TeleTrade offers three different account types their new clients can choose between:
– MT5 ECN Account, with spreads from 0.2 pips and commissions from 0.008%
– MT5 Invest Account (TeleTrade Invest), for investing without leverage, with spreads from 0 pips and 0.3% commissions
– MT4 NDD Account, with spreads from 0.8 pips and commissions from 0.007%
– MT4 Cent Account, with a minimum deposit of just $10 but larger spreads

All of the trading accounts mentioned above can be funded through all the usual methods such as bank transfer, credit cards, and all of the most common e-wallets like Skrill, Neteller, FasaPay, WebMoney, and others. The minimum deposit required to get started trading with this broker is just $10.

TeleTrade's customer service is available via a so-called “Online Assistant” chat function in English, Russian, or Spanish, as well as via phone and email. We are also pleased to see that customer support is available 24 hours a day on all trading days.

Finally, TeleTrade stands out as a broker that has fully embraced the cryptocurrency revolution by offering a fairly wide range of these digital assets for trading with high leverage. However, the broker has also managed to combine this with the best from traditional finance, offering forex, stocks, and other assets for trading on the classic MetaTrader 4 & 5 platforms. For traders who enjoy the benefits that these platforms provide, TeleTrade may therefore be a good choice.

Reviews from traders

4.7/5
(33 votes)
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