TeleTrade review (2021) Review
TeleTrade is an EU-licensed CFD and forex broker, regulated by the Cyprus Securities and Exchange Commission (CySEC), which was established in 1994 first trading by phone and then moving onto the internet in 2000. They took a leading position in the international forex industry and has many awards also shown off on their website.
TeleTrade operates under the uncompetitive regulatory framework of the ESMA and offers forex and CFD trading through ECN and NDD accounts. TeleTrade’s assets include 24/7 support in all sorts of languages, training programs (both offline and online), high-quality analytics, and a variety of traded assets. This multi-asset broker cares from retail to professional clients offering MetaTrader platforms as well as the group’s own copy-trading solution – TeleTrade Invest. They also offer copy Social Trading and Copy Trading.
TeleTrade offers one commission-free trading account and two commission-based alternatives.
- MetaTrader 5 – ECN
- MetaTrader 4 – NDD
- MetaTrader – CENT
- Demo account
What can be traded
- Forex (56 currency pairs).
- 104 equity CFDs and eight Index CFDs.
- agricultural commodities
The Cyprus Securities and Exchange Commission (CySEC) is the only regulator of TeleTrade. That essentially stops the broker from offering a competitive trading environment. Check out their page for extra information on this.
TeleTrade has Web, Desktop (Windows), Mobile for Android, Mobile iOS, Mobile iPad, Mobile iPod Touch platforms. The choice of trading platforms is standard I`d say. The company has classic platforms, called MetaTrader 4 and MetaTrader 5.
They don’t have any restrictions on trading strategies. You can also add trading robots.
TeleTrade demo account
The company provides a free demo account without any time limits. It takes a minute and the registration is very simple too. You can try it out, without any risk.
- withdrawal fees vary depending on your selected payment method.
- fee for inactive accounts
- no commission on CFD instruments.
- no deposit fees.
Keep in mind TeleTrade require a minimum deposit of 100 GBP/USD when opening a TeleTrade trading account.
At the top of the page, you simply click on “register”. A digital form pops up for you to fill in.
To fill in the form I needed about 2 minutes. Straight after registering I received an email and an SMS code to verify myself and also jumped onto a page, where they thanked me for registering, they showed me my account details and a short “how-to” message.
The confirmation email I received didn`t give me any information. To be honest it looked like this:
Now you can download the trading terminal or use a web terminal. This is what you get:
On the left side, there is a list of options like:
- a deposits/withdrawal list
- trading list
- support list
After going through all lists, it’s quite straightforward. You`ll find everything in the left pane.
There is no minimum deposit requirement on TeleTrade. So you can start immediately from 1$. Very simple and intuitive.
Their website has a simple visage, but full of information about who they are and what they`ve achieved. The newsfeed on the website is quite detailed. There is a Market Opinions section, where the authors publish a large number of analytical materials and their own opinions too. You can also find an Economic Calendar with all sorts of events from the global economy. What else can be found and is very helpful are video reviews and webinars. All found in the top web panel.
Social network activity
You can follow TeleTrade on Youtube, Facebook, Twitter, Instagram and Linkedin as well as call them or send them an email.
On Facebook, you can see posts daily. They are usually informative or giving facts.
Twitter and Instagram have pretty much the same activity as Facebook.
A final summary of TeleTrade
This broker is maybe one of the most popular brokers between beginners. The main reason is because of the education and webinars, videos, that they provide a simple and convenient trading platform and a low entry threshold. As for the more experienced brokers, this broker won`t be able to satisfy them 100%.
The main downside of this broker is the absence of the license from my point of view and not only mine, from reading other reviews.
Pros / Cons
- Phone and email support, that works!
- Free demo account
- No deposit fee
- Videos and webinars for beginners
- Not FCA Regulated
- No instruments to analyse statistics
- Not enough straightforward information on their website