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TeleTrade Review 2024

Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg

June 12, 2024

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

TeleTrade offers an average trading experience for forex and CFD traders. Our research indicates that while TeleTrade provides a solid range of trading platforms, including MetaTrader 4 and MetaTrader 5, and supports copy trading, its educational offerings for beginners are lacking. The broker is best suited for traders who prioritize platform versatility and commission structure over educational resources.

Overall Rating

7.1 / 10

Minimum Deposit

$100

Trust Score info

Average Risk

Pros and Cons

thumb_up_off_alt Pros

MetaTrader Support: Offers both MetaTrader 4 and MetaTrader 5, providing versatile platform choices.
Copy Trading: Supports copy trading, beneficial for beginners and passive traders.

thumb_down_off_alt Cons

Limited Education Resources: Does not offer advanced or beginner education videos.
Average Investment Offering: Provides fewer tradeable symbols compared to industry leaders.

Ratings Summary

Investment Types - 7.0/10
Commissions & Fees - 7.5/10
Trading platforms - 7.5/10
Research - 7.0/10
Mobile Apps - 7.5/10
Education - 5.5/10
Overall - 7.1/10

Can I trust TeleTrade?

TeleTrade holds just one regulatory license, from the Cyprus' regulator CySEC, bringing its Trust Score rating down. ForexBrokers.com rates TeleTrade with a trust score of 71, categorizing it as average risk.

TeleTrade is currently licensed and/or authorised by the following regulatory bodies:

Tier-1 Regulators - Regulated in the European Union via the MiFID passporting system
Tier-2 Regulators - None
Tier-3 Regulators - None
Tier-4 Regulators - None

Is TeleTrade good for beginners?

TeleTrade might not be the best choice for beginners due to its lack of educational resources. It does not offer beginner or advanced education videos, and its rating for education and beginners is below average.

Feature	TeleTrade
Education (Forex or CFDs) info	No
Client Webinars info	No
Videos - Beginner Trading Videos info	No
Videos - Advanced Trading Videos info	No
Investor Dictionary (Glossary) info	No

TeleTrade commissions and fees summary

TeleTrade's fee structure is average, with no inactivity fee and support for active trader discounts. The minimum deposit required is standard, but the average spread cost for the EUR/USD pair is not specified. Overall, the broker's commissions and fees are average for the industry.

Feature	TeleTrade
Minimum Deposit info	$100
Average Spread EUR/USD - Mini info	N/A
Average Spread EUR/USD - Standard info	N/A
All-in Cost EUR/USD - Active info	N/A
Active Trader or VIP Discounts info	Yes

TeleTrade trading platforms and tools

tips_and_updates Did you know? Trading platforms comparison

Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.

TeleTrade offers a strong suite of trading platforms, including MetaTrader 4 and MetaTrader 5, and provides a proprietary market analysis mobile app (but no proprietary trading platform). The broker is average in its offering of platforms and tools, making it a reasonable choice for investors.

Trading platforms offered: MetaTrader 4 and MetaTrader 5.

Trading tools: Standard tools available within MetaTrader platforms.

Copy trading: TeleTrade supports copy trading, beneficial for passive investors.

Feature	TeleTrade
Virtual Trading (Demo) info	Yes
Proprietary Platform info	No
Desktop Platform (Windows) info	Yes
Web Platform info	Yes
MetaTrader 4 (MT4) info	Yes
MetaTrader 5 (MT5) info	Yes
DupliTrade info	No

Mobile trading apps at TeleTrade

TeleTrade provides mobile trading apps via the MetaTrader platform, offering flexibility for traders on the go.

Feature	TeleTrade
Android App info	Yes
Apple iOS App info	Yes
Mobile Economic Calendar info	Yes
Mobile Alerts - Basic Fields info	Yes
Mobile Charting - Draw Trendlines info	Yes
Mobile Watchlist info	Yes

How do I open an account with TeleTrade?

Visit the TeleTrade website and click on the "Open Account" button.
Fill out the registration form with your personal details.
Verify your email address by clicking on the link sent to your inbox.
Submit the required identification documents for verification.
Fund your account using one of the supported payment methods.
Start trading once your account is approved and funded.

What can I trade at TeleTrade?

TeleTrade offers 61 forex pairs and 500 tradeable symbols, which is below the industry average of 3,623 symbols. This range may be limiting for traders looking for a broader variety of assets.

Feature	TeleTrade
Tradeable Symbols (Total) info	500
Forex Pairs (Total) info	61
Social Trading / Copy Trading info	Yes
Cryptocurrency (Physical) info	No
Cryptocurrency (Derivative) info	Yes
Spread Betting info	No

Account funding at TeleTrade

TeleTrade supports various funding methods, including bank wires, Neteller, Skrill, and credit cards. PayPal is not supported.

Feature	TeleTrade
Visa/Mastercard (Credit/Debit) info	Yes
Bank Wire (Deposit/Withdraw) info	Yes
PayPal (Deposit/Withdraw) info	No
Skrill (Deposit/Withdraw) info	Yes
Neteller (Deposit/Withdraw) info	Yes

About TeleTrade

TeleTrade was founded in 1994 and has been providing forex and CFD trading services via the MetaTrader platform for several decades. The broker is authorized by MiFID through the Cyprus' CySEC regulatory agency.

Compare TeleTrade

See how TeleTrade stacks up against other brokers.

TeleTrade vs LegacyFX TeleTrade vs Capital.com TeleTrade vs City Index TeleTrade vs Libertex (Forex Club) TeleTrade vs GBE brokers TeleTrade vs ThinkMarkets TeleTrade vs IC Markets TeleTrade vs DooPrime TeleTrade vs Charles Schwab TeleTrade vs Trade Nation TeleTrade vs Pepperstone TeleTrade vs ATFX TeleTrade vs Swissquote TeleTrade vs VT Markets TeleTrade vs IronFX TeleTrade vs Spreadex TeleTrade vs FXPrimus TeleTrade vs Trade360

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Methodology

At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.

Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.

Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).

AI disclaimer

We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and How We Test.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

About the Editorial Team

BrokerNotes.co

BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.

Steven Hatzakis

Steven Hatzakis is the Global Director of Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

Jeff Anberg

Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.