FlowBank vs TeleTrade 2023

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

FlowBank has a Trust Score of 80, giving it a "Average Risk" Trust Score Label.

TeleTrade has a Trust Score of 71, giving it a "Average Risk" Trust Score Label.

Founded in 2020, FlowBank is a relatively new forex broker that has rapidly expanded its offering of investment products. Traders at FlowBank gain access to the full MetaTrader suite (both MT4 and MT5) and enjoy the benefits associated with holding a Swiss bank account alongside the ability to trade forex and CFDs. FlowBank is regulated in Switzerland, but lacks the additional regulatory licenses held by the most trusted brokers.

Founded in 1994, TeleTrade offers the full MetaTrader suite (both MT4 and MT5) as well as its proprietary TeleTrade Analytics mobile app that delivers news and market analysis. However, TeleTrade holds just one regulatory license, bringing its Trust Score rating down.

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. unfortunately, neither FlowBank nor TeleTrade are Australia (ASIC Authorised), Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized).. Neither have USA (CFTC Authorized)

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FlowBank is none, while TeleTrade is Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses unfortunately, neither FlowBank nor TeleTrade are Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).. Neither have Vanuatu (VFSC Authorised).

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that FlowBank offers a Proprietary Platform and Desktop Platform (Windows), whereas TeleTrade supports a Desktop Platform (Windows) and ZuluTrade. Neither have cTrader and DupliTrade

Both FlowBank and TeleTrade offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

FlowBank requires a minimum deposit of $0, while TeleTrade requires a minimum deposit of $100. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that FlowBank supports Bank Wire (Deposit/Withdraw) for funding and deposit methods, whereas TeleTrade supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw)

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that FlowBank delivers a more diverse selection of investment options than TeleTrade, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Spread Betting.

We also keep track of each broker’s total number of tradeable symbols; FlowBank offers 408600, and TeleTrade offers a total of 500 tradeable symbols.

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither FlowBank nor TeleTrade allow you to trade physical cryptocurrencies.

The best forex brokers arm their clients with a variety of research tools and resources. Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. In our testing, we discovered that both FlowBank and TeleTrade offer the same suite of research tools and resources. Here’s a comprehensive list of the tools provided by both brokers: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.. Neither have Autochartist and Trading Central (Recognia)

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