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TeleTrade review and ratings

Established 2000
Location Cyprus Saint Vincent and the Grenadines
Regulation CySEC
Offices Nicosia, Kingstown, Budapest, Rome, Warsaw, Lisbon
Broker type STP | ECN
Leverage up to 1:500
Deposit from 100 USD
Spreads mid  mid
Platforms Web MetaTrader 4 MetaTrader 5
Instruments Currencies Crypto Indices Metals Energies Stocks ETFs
Funding methods Wire Transfer Credit Cards Skrill Neteller FasaPay WebMoney Yandex Money Qiwi

Company information

TeleTrade group includes 2 related companies.

TeleTrade CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
TeleTrade SVG - legally registered entity located in Saint Vincent and the Grenadines, but not regulated by any government agency.

Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
At the same time, SVG company accepts European traders, so one can open a trading account there.

Availability

TeleTrade group accepts clients from all over the world, excluding USA, Canada, Sudan, Yemen, Myanmar, Iraq, Syria.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

70+ Currency Pairs Based on major and minor world currencies.
16 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Dash, Litecoin, Golem, Iota, Tron, Stellar, Monero, Zcash, OmiseGO, EOS, NEO.
9 Indice CFDs Based on baskets of different blue-chip stocks.
12 Metal Spot CFDs Based on Gold, Silver, Platinum and Palladium.
3 Energy Futures Based on Crude Oil (WTI, Brent) and Natural Gas.
110+ Stock CFDs Based on shares of US and Germany companies.
10+ ETF CFDs Based on exchange-traded funds containing various tradable assets.

Comprehensive review

TeleTrade is a forex & CFD broker based out of Cyprus in Europe and the offshore jurisdiction 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.

As usual, EU-based traders will by default be signed up with the Cyprus-based branch of the broker, while traders from elsewhere will be assigned to the offshore-based branch located in Saint Vincent and the Grenadines. However, it is known that TeleTrade also allows EU-based traders to trade under the offshore-based broker if requested. As a result, an interesting opportunity exists for European traders to take advantage of the much higher leverage available outside of Europe if they wish to do so.

Take note, however, that only the Cyprus-based entity is regulated by a government agency, namely the Cyprus Securities and Exchange Commission (CySEC), which in turn is overseen by the European Securities and Markets Authority (ESMA). Although trading with an unregulated broker may come with certain benefits such as higher trading leverage, there are also risks associated with it. As a result, many traders understandably prefer to rely on regulated entities only.

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

The selection is particularly good for cryptocurrency CFDs, with more than 18 different cryptoassets traded against the USD 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.

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:
– Standard MT4 Account: Suitable for most beginners, with commission-free trading but wider spreads
– No-Dealing Desk (NDD) MT4 Account: Good for more experienced traders, with tighter spreads and commissions
– ECN MT5 Account: Best account for experienced traders, with tight spreads and low commissions

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. Take note, however, that the minimum deposit required to start trading with TeleTrade is 100 USD/EUR.

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

4.68/5
(19 votes)
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