TeleTrade allows you to choose various types of investment platforms to trade financial instruments such as Forex, CFDs, metals, and futures. In addition, this broker offers several types of accounts that will allow you to choose the one that best suits your needs, offering tight spreads while not charging commissiona to use the accounts. The investment portal also has versions for mobile phones so that you are always aware of your investments.
It is true that TeleTrade is a broker that has good characteristics in several aspects. But, we strongly believe that Capital.com is the best online trading platform because is one of the easiest and cheapest ways to trade CFDs on equities, commodities, indices, Forex pairs and cryptocurrencies anywhere in the world. Capital.com offers you zero fees on intra-day trading, a lightning-fast web platform and their proprietary Negative Balance Protection. Also, Capital.com gives you the best chance at financial success with a clean, easy-to-use interface. If you are a beginner trader or you are already an experienced investor, you will find a great ally at Capital.com.
|Ease of Use||8|
|Deposit & Withdrawal Options||10|
|Demo Account & Educational Resources||7|
|Safety & Regulation||10|
What Is TeleTrade?
TeleTrade is a broker with more than 20 years of service. It was founded in 1994 and is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC). It offers zero-commission Forex trading with tight spreads that make it low-cost and accessible to many new traders. It is important that you consider that TeleTrade does not offer its services for residents of the United States.
Pros & Cons
- It is a regulated company.
- Spreads are tight.
- The investment platforms are good.
- There is no commission to use the accounts.
- It is possible to copy trade.
- There are commissions for inactivity.
- There are minimum withdrawal amounts.
- You must pay commissions for trading on TeleTrade.
- There are withdrawal fees.
- There are no fixed spread accounts.
TeleTrade offers you several types of accounts. Below you will see the most relevant aspects of each account that the company offers:
No Dealing Desk Account
This type of account operates with the MetaTrader 4 (MT4) trading platform that is designed specifically for advanced traders. The main advantage of this trading account is that your buy or sale request is processed at the highest possible speed without the participation of a dealer, thanks to the use of AMTS Solutions technologies. This is why it is suitable for those who use high-frequency strategies.
Electronic Communication Network Trading Account
This is a network where trading of financial products can be done outside traditional stock exchanges. It is designed to match buy and sell orders present in the exchange and it can be described as a bridge linking smaller market participants. Also, this account type offers you advanced algorithms for processing customer transactions, as well as high speed and maximum convenience.
Standard Forex Account
This type of account provides investors with access to standard lots on the widest range of forex instruments available in the MT4 platform. As a consequence, the Standard Forex Account is the most suitable account type for all Forex traders.
The Standard Forex Account, the broker’s prime service, is a zero-commission account with tight spreads. However, you must pay commissions for trading on TeleTrade on the other two types of accounts. This is a breakdown of those commissions:
- No Dealing Desk trading account: 0.1% commission for CFD on stocks and 0.007% commission for other symbol types.
- Electronic Communication Network trading account type: 0.008% low commission contract size.
- Standard Forex Account: 0.00% (exception: 0.1% commission applies on CFDs on US Stocks).
In addition, each of these accounts offers you a type of spread:
- No Dealing Desk trading account type: Offers you a floating spread from 0.2 pips.
- Electronic Communication Network trading account: Offers you a floating spread from 0.8 pips.
- Standard Forex Account: Spread from 1.5 pips.
With TeleTrade, you must pay an inactivity fee of 50 EUR per month. Take into account that, in TeleTrade, it is considered that an account is inactive if for more than 3 months you do not make any type of negotiation on the platform. There are also withdrawal fees, but we’ll cover those in detail later down the post.
TeleTradeis not well rated in terms of fees as you will have to pay commissions for trading some financial instruments and there are both inactivity and withdrawal fees, which is something other brokers don’t charge.
TeleTrade Fees Score: 5/10
#2 Signup Process
The process of opening an account on TeleTrade is completely online. Generally, it will not take more than 3 days to open your account.
To open a Trader Account, you need to:
- Register as a client in TeleTrade’s website to open a trading account.
- Make the initial deposit in your trading account.
- Select the ‘TeleTrade Invest’ menu item in the ‘Investments’ section.
- Register your trading account as a Trader Account by pressing the corresponding button.
- Fill out your Trader’s profile and account profile.
To operate within the TeleTradeplatform, you will have to wait a long time compared to other brokers. In fact, sometimes, you will have to wait for more than 3 days. This makes TeleTrade lose points as having to wait 3 or more days to start trading could mean losing the chance to take advantage of opportunities in the financial market.
TeleTrade Signup Process Score: 7/10
#3 Minimum Initial Deposit
The minimum deposit to be able to operate in TeleTrade is $100 USD or 100 EUR, depending on the base currency of your account, which is a low minimum deposit compared to many other brokers. This aspect is very favourable because you can start your trading career without waiting years until you have large sums of money, and it also allows you to start trading while risking little capital.
TeleTrade Minimum Initial Deposit Score: 10/10
#4 Ease of Use
TeleTrade offers you Metatrader 4 (MT4) or Metatrader 5 (MT5) as investment platforms. Note that the interfaces are friendly and intuitive despite their advanced features. Also, these platforms are very useful and are the most used tools by traders in the world. You will be able to find a large number of chart options, indicators, and plotting tools.
You can also see several charts at the same time, you have customization options and you can even create environments. For example, you can create an environment for Forex, CFDs or financial sectors.
These customization possibilities allow you to be much more efficient when analyzing and making the best investment decisions.
Furthermore, TeleTrade also offers you the possibility of following your operations on the web through its Webtrader. This tool is based on a platform that does not need downloading and that will allow you to view your positions at any time without the need to download MT4 or MT5 on other computers.
Not overwhelming, you must take into account that to master all the analysis resources that MT4 and MT5 offer you, you must dedicate time and effort so that you can exploit to the maximum all the resources that these investment platforms offer you.
The TeleTrade App
You can use MT4 or MT5 on your cell phone too. The mobile applications will allow you to use the same tools as the PC version. In the case of the MT4, the app is very well rated in the Android store (4.6/5) and in the Apple app store (4.8/5).
Although TeleTrade’s investment platform is wonderful, the broker loses points due to the time that you will have to invest to learn how to comfortably use the investment platform.
TeleTrade Ease of Use Score: 8/10
#5 Deposit & Withdrawal Options
TeleTrade offers you several methods so that you can fund your account and withdraw your money.
Please note that with most funding methods you will have to bear a cost. Below you can see how long you will have to wait to see your money in the investment platform and what type of currencies each method accepts:
|Deposit Funds||Currency||Fees||Processing time|
|Bank Wire||EUR, USD||According to senders bank fees schedule||Usually 2-3 days|
|Visa and Mastercard||EUR, USD||3.5%||15 min (unless the name on card doesn’t match with the client’s name)|
|Neteller||EUR, USD||3.9% + $0.29 USD (min 1 USD)||Instant|
|Fasapay||USD||0.5% (max 5 USD)||Instant|
The minimum withdrawal amount is $500 USD. Below you can see how long you will have to wait to see withdraw your money from the investment platform and what type of currencies each withdrawal method accepts:
|Withdraw Funds||Currency||Fees||Processing time|
|Bank Wire||EUR, USD||A fee of 80-150 EUR will be charged, depending on the bank you use. Intermediary bank fees (if applicable) will be deducted from the amount||It normally takes about 2-3 business days|
|Visa and Mastercard||EUR, USD||2.35% + 1 EUR/$1.30 USD||Usually 1-2 business days|
|Neteller||EUR, USD||2%||Usually 1-2 business days|
|Skrill||EUR, USD||1%||Usually 1-2 business days|
|Fasapay||USD||0.5%||Usually 1-2 business days|
When it comes to deposits and withdrawals, TeleTrade is very well qualified for the great diversity of options it offers, which is among the best in the industry.
TeleTrade Deposit & Withdrawal Options Score: 10/10
#6 Customer Support:
Technical support is a 24/5 multilingual service. In this way, you can communicate with the technical staff of TeleTrade in more than 10 languages.
- Email: [email protected]
- Phone: +442080895636
- Live Chat
The technical support offers you some alternatives to communicate with the technical advisers. For this reason, TeleTrade has a high score in this category.
TeleTrade Customer Support Score: 10/10
#7 Asset Classes
You can trade through CFDs the main shares of the US stock market, such as Adobe Systems, Amazon, American Express, among others.
You can buy currency pairs. For example:
TeleTrade’s platform allows you to trade precious metals like gold.
You will be able to trade ETFs on the TeleTrade investment platform. For example:
- SPDR S&P 500 ETF
- Technology Select Sector SPDR ETF
- SPDR S&P Oil
You will be able to trade cryptos through CFDs. For example, you could trade Bitcoin, Ethereum, Bitcoin Cash, etc.
While it is true that TeleTrade has a number of alternatives in most of the financial instruments it offers, unfortunately, you will not be able to invest in bonds and you can only buy shares of the US market. This factor reduces the diversification capacity of your portfolio.
TeleTrade Asset Classes Score: 7/10
#8 Referral Program
As of writing this review, TeleTrade does not offer a referral program. For this reason, it is impossible to be able to assign points in this regard to TeleTrade.
TeleTrade Referral Program Score: 0/10
#9 Demo Account & Educational Resources
You can open a demo account in TeleTrade with a €50.000 mock amount. The demo account allows you to practice investment strategies exactly as you would in the real market. You’ll have access to the same statistics as if you were really trading. That way, you’ll know for sure when you’ve hit a home run or when you strikeout. It also lets you get to know the platform to make trading more natural once you start for real.
In TeleTrade, you can find varied materials so that you can increase your capacity and stay informed. You find the material classified in two categories:
News And Tools
- Economic Calendar
- Market News
- Central Banks News
- Holiday Calendar
- Interest Rates
- Market Opinions
- Trading Signals
- Technical Analysis
The educational content in TeleTrade is very limited. It is important that you choose a broker that helps you complement your strategies. For this reason the broker loses points in this category
TeleTrade Demo Account & Educational Resources Score: 7/10
#10 Safety & Regulation
TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11. The company is regulated by the Investment Services and Activities and Regulated Markets Law 87(I)/2017.
Other country specific regulations are:
|Austria||Financial Markets Authority (FMA)|
|Bulgaria||Financial Supervision Commission (FSC)|
|Cyprus||Cyprus Securities and Exchange Commission (CySEC)|
|Czech Republic||Czech National Bank|
|Germany||Federal Financial Supervisory Authority|
|Greece||Hellenic Capital Market Commission (HCMC)|
|Hungary||Hungarian Financial Supervisory Authority (HFSA)|
|Italy||Commissione Nazionale per le Societa e la Borsa (CONSOB)|
|Latvia||Financial and Capital Market Commission (FCMC)|
|Lithuania||The Securities Commission of the Republic of Lithuania|
|Poland||Polish Financial Supervision Authority (KNF)|
|Portugal||Comissão do Mercado de Valores Mobiliários (CMVM)|
|Romania||National Securities Commission (CNVM)|
|Spain||Spanish National Securities Market Commission (CNMV)|
|UK||Financial Conduct Authority (FCA)|
TeleTrade offers you great security when you invest your money because it is a broker that has important regulations. For this reason, TeleTrade has a solid rating in this regard.
TeleTrade Safety & Regulation Score: 10/10
TeleTrade vs. Capital.com
One of the most relevant aspects when taking the best and most profitable investment ideas is that you can have a platform that can add value to your strategies. Moreover, it should allow you to be sure when investing your money and where you can do the best analysis and get much lower rates. Taking into account the most relevant aspects for an investor we prefer Capital.com over TeleTrade for the following reasons
It has Better fees
Capital.com doesn’t charge any fees on any asset that you trade: stocks, commodities, cryptocurrency, indices, forex, ETFs, or anything else. It doesn’t charge monthly or annual fees, inactivity fees, or deposit or withdrawal fees, either. It also offers tight spreads on trades, unlike other zero-fee brokers, who make their money on wide spreads. Capital.com only makes money on the overnight fees on leveraged trades, so if you trade without leverage, you’ll never pay any fees.
It Has The Best Investment options
TeleTrade has a good number of financial instruments that you can invest in. However, Capital.com offers you several possibilities because on its investment platform you will be able to access a greater number of CFDs. This feature is really important because with Capital.com you will be able to have a greater capacity for diversification when building your investment portfolios.
Capital.com Has Referral Program
TeleTrade does not have a Referral Program that allows you to earn bonuses so that you can gradually increase your capital. In contrast, Capital.com offers you a Referral Program that will allow you to earn $25 USD for each person you invite to invest in this wonderful investment platform.
TeleTrade In Summary
- TeleTrade is a broker with more than 20 years of service.
- The broker is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC).
- You can choose various types of investment platforms to trade financial instruments with TeleTrade such as Forex, CFDs, metals and futures.
- You can open three types of accounts in TeleTrade: Standard Forex Account, No Dealing Desk account and Electronic Communication Network trading account.
- The process of opening an account on TeleTrade is completely online.
- The minimum deposit to be able to operate in TeleTrade is $100 USD or EUR.
- TeleTrade offers you Metatrader 4 (MT4) or Metatrader 5 (MT5) as investment platforms. Note that the interfaces are friendly and intuitive despite their advanced features. Also, these platforms are very useful and are the most used tools by traders in the world.
- Technical support is 24/5 multilingual service.
- You can manage a demo account on TeleTrade.
In general terms, we think that Capital.com is a better option because it offers a broader base of investment options, doesn’t charge any fees on any asset that you trade, and the educational content is complete and useful. Also, the trading platform has an excellent Referral Program. Capital.com is ideal for all types of investors. If you are a beginner or an experienced trader you will see that this wonderful broker is an ally that will allow you to fully exploit capital gains