- Excellent selection of trading platforms
- Wide array of tradeable instruments
- Great customer support
- Fully regulated
- No bonuses or promotions
- Limited options of customer support
TeleTrade is a very successful online trading brokerage offering clients the opportunity to participate in a wide variety of financial markets. The TeleTrade online trading brokerage was established in 2007 and is owned and operated by TeleTrade-DJ International Consulting Ltd, which has roots in the financial trading industry dating back to 1994. Therefore, the TeleTrade online trading brokerage has 24 years of market experience and services over 35 countries, supports 9 different languages, and has over 3000 professional traders worldwide. The broker has been awarded over 30 international awards for various aspects of their services and has thus developed a highly reputable reputation in the online trading space.
TeleTrade may be an international online trading brokerage, but their headquarters are located at 88 Archiepiskopou Markariou III, 1077 Nicosia-Cyprus. Being located in Cyprus, the broker is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11. As well, TeleTrade operates in accordance with the Markets in Financial Instruments Directive (MiFID) which grants them jurisdiction to offer their investment and trading services across Europe. With so many reputable online European trading brokerages, how do you know which one is best for you? Well, in the following review we’ll delve deep into the aspects that make up this online trading brokerage and see what sets TeleTrade apart from the competition and whether or not they can be trusted.
TeleTrade is a multinational online trading brokerage with a wide array of customers from various countries. As well, they service traders from all experience levels and trading backgrounds. Therefore, TeleTrade offers their diverse range of traders 3 sophisticated trading platforms to choose from. See an overview of these platforms and what they have to offer below.
MetaTrader Web Terminal
This trading platform has a similar look and feel to the downloadable MetaTrader platforms, but this one is entirely web-based and can be accessed from nearly any type of modern computer. The main features incorporated into this platform include:
- Place and execute various types of advanced orders
- Receive real-time market quotes
- Customizable charts
- View charts in 9 different time periods
- Basic analytical tools (horizontal, vertical and trend lines, equidistant channel and Fibonacci retracement)
MetaTrader 4 (MT4) & MetaTrader 5 (MT5)
These two platforms are by far the most advanced trading platforms offered by TeleTrade. They require the trader to download the platform to their desktop computer because of how sophisticated they are. The two platforms are relatively the same, with the MT5 platform being an upgraded version of the MT4 platform. Both platforms feature a highly advanced charting package, complete with numerous analysis tools and technical indicators. One of the most advanced features unique to the desktop versions of these platforms is the integration of “Expert Advisors” (EAs), which are programmable scripts and indicators for automated trading.
All the platforms mentioned above are highly reputable in the industry and have been formatted beautifully for the TeleTrade brand. Both the MetaTrader desktop platforms have downloadable mobile apps for Apple and Android devices, and the WebTrader platform is compatible and optimized for mobile web browsers.
TeleTrade offers their traders over 200 tradeable instruments across 7 different markets including Forex and CFDs on Precious Metals, Indices, Energies, Stocks, ETFs, and Cryptocurrencies. Among these assets there are nearly 70 currency pairs consisting of Majors, Minors and Exotics, 7 CFDs on metals including Gold, Silver, Palladium, and Platinum, 9 leading global Indices, 3 CFDs on Energies including Brent Crude Oil, WTI Crude Oil, and Natural Gas, over 90 different types of stocks, 9 different CFDs on ETFs, and 9 CFDs on different Cryptocurrencies. All in all, clients with TeleTrade have plenty to choose from when trading with them.
Fees and Commission
TeleTrade charges a mix of commissions to their traders which are dependent on which trading account they have. TeleTrade offers trader three different type of trading accounts; Standard Account, NDD Account, and Sharp ECN Account. See below the associated fees and commissions with these accounts.
- No commissions
- Variable spreads from 1.1 pips
- Has commissions
- Variable spreads from 0.8 pips
- Has commissions
- Variable spreads from 0.2 pips
Security and Fairness
TeleTrade’s primary concern is the protection of their clients and their funds. Therefore, TeleTrade employs the most sophisticated security measures for the protection of their clients. Clients’ funds are held in leading European bank accounts which are segregated and provide a risk management system with negative balance protection. Also, clients are protected by the Investor Compensation Fund (ICF), which ensures they receive compensation in the even of fraudulent practices. Another level of protection is from the regulation of the Cyprus Securities and Exchange Commission (CySEC). This regulatory body ensures that TeleTrade follows best practices and remains fair and transparent with their services. That being said, TeleTrade is a very safe, secure, and fair online trading brokerage.
TeleTrade has very impressive customer support which is very professional and quick to respond. The support received is personalized and provided by local support representatives to your region. While the support received is impressive, the only support options are via telephone and email and are available Monday to Friday from 9:00 – 18:00.
TeleTrade is one of the most successful online trading brokerages in Europe and has seen great success internationally around the world as well. The broker offers traders a variety of trading platforms to choose from and features over 200 tradeable instruments. TeleTrade has an excellent reputation, is fully regulated, and has won over 30 international awards. The customer support offered by TeleTrade is quite good, and the broker cares about their clients and their safety. All in all, TeleTrade is a very good online trading brokerage to deal with.
The following are the common questions that customers inquired about TeleTrade.
Is TeleTrade regulated?
Yes, it is regulated by the Cyprus Securities and Exchange Commission (CySEC).
Is TeleTrade a scam?
No, TeleTrade is a legit broker with an excellent reputation.
Where is TeleTrade based?
TeleTrade is located at 88 Archiepiskopou Markariou III, 1077 Nicosia-Cyprus.