TeleTrade is one of the most prominent brokers on the global Forex market. It combines the knowledge of skilled employees in more than 12 global offices and over 20 years of a market presence to deliver breath-taking experience to loyal customers. Although positive reviews from all around speak for themselves, we simply had to make sure that there is absolutely no suspicious behavior connected to this broker. Therefore, we have made a series of tests and composed our scam report, where we clearly state the shocking results. So, is TeleTrade a scam or a completely legit broker? Read our honest article and learn if you should be trading here!
Is TeleTrade a Scam? | Regulation
As we have already stated numerous times before, regulation is the key feature of trusted and legit brokers. Regulation dictates how a broker can conduct its business, monitoring all suspicious behavior and protecting the clients’ assets at the same time. If the broker does not have any license, it is likely that its clients will be left penniless. Fortunately, this is not the case here. Being a well-respected broker with headquarters in Cyprus, TeleTrade has obtained a license under the number 158/11 issued by the country’s governing regulatory body, CySEC. The broker is also compliant to MiFID or Markets in Financial Instruments Directive. This is a law created by the European Union which provides synchronized regulation by governing authorities in all countries that are parts of European Economic Area. Therefore, apart from CySEC, TeleTrade is also regulated by 15 other agencies, including FMA, FCA, CONSOB and much more. This is a rock-solid proof of a broker’s legitimacy when it comes to conducting trades. But what about the security of clients’ funds? Can you trust this broker completely with your money? Read the next part of our Is TeleTrade a Scam article and find out!
Is TeleTrade a Scam? | Safety of Funds
As stated in our TeleTrade Review article, customer satisfaction is of utmost importance, and nothing should jeopardize your overall trading experience. This applies to the safety of your deposits and earnings as well. Due to strict regulatory policies, all funds belonging to clients are being held in segregated accounts with respectable global banks. This is mandatory since your money is not endangered if the brokerage company goes bankrupt. Also, by monitoring your overall balance, TeleTrade notifies you before investing in more trades if your losses are about to surpass your initial deposits. The broker is also a member of Investor Compensation Fund, which guarantees that your payouts will be processed even in the moment when broker’s liquidity is compromised. As you can see, TeleTrade is a truly safe broker, so you shouldn’t be afraid to trade here. And now, let’s bring this article to its end.
Is TeleTrade a Scam? | Conclusion
Still wondering is TeleTrade a scam or not? Don’t worry, based on our test results, we’re dealing with a perfectly safe and secure broker. It is fully regulated by several entities, and its powerful safety measurements will surely keep your funds and personal information intact. So what are you waiting for? Open a free account today and start enjoying in your winning trades!
With more than 20 years of experience in the global marketplace, TeleTrade is one of the most recognized and respected brands in the industry. It empowers clients to invest in a multitude of various trading instruments including stocks, Forex, CFDs, ETFs and such, on a highly sophisticated trading interface. Aside from that, it boasts some other interesting features such as Invest trading mode, rich educational library, advanced analytical tools and much more. But there is actually much more to this broker then it meets the eye, so we’ve decided to compose this extensive TeleTrade Review article. We are going to cover all sorts of topics, from broker recognition and regulation, through account opening procedure and various trading interfaces, all the way to customer support and knowledge base. Eager to discover whether you should trade with this renowned broker or find a more suitable trading companion? Keep on reading and discover is this broker really that good!
TeleTrade Review | Awards
Prior to taking a detailed look at the broker’s key features, we thought that the best introduction to this TeleTrade Review would be a quick overview of a broker’s recognition in the industry. Twenty years in the ever-changing market is a long time, and TeleTrade managed to withstand all turbulences, establishing itself as one of the market leaders. Therefore, a number of prizes TeleTrade received from industry experts really shouldn’t come as a surprise. The most recent one is from this year, for the best European Forex broker by Capital Finance International, a well-known and respected business and finance magazine. In 2015, TeleTrade won a total of three awards – for best European affiliate program by International Finance Magazine, and for best CFD trading and customer service by Global Banking and Finance Review. A list of earlier awards is huge, which is a solid proof that the broker continues to grow steadily every year. Receiving any type of award is a great achievement, but the biggest one is being recognized by prominent institutions from your own industry. Therefore, we strongly believe that TeleTrade will surely justify our high expectations. Or will it? Read the next part of our TeleTrade review and learn all about available account packages!
TeleTrade Review | Account Types
TeleTrade offers several account packages to their customers, each with its own unique features and perks. The final decision, however, depends on each trader’s preferences. Account types differ based on supported trading interface, spreads, commission amount, leverage and other key factors. We’ll examine all of available accounts individually, so stick around!
The first available account is named MT4 Standard. As the name suggests, it is tied to the MetaTrader trading interface, more precisely, to its fourth installment. We won’t write much about the platform right now, since we’ve got a special section just for available interfaces, but we’ll only state that this is currently the most popular platform in the world. Apart from a variety of available trading assets and high precision of quotations, it features leverage of 1:50 and higher, as well as floating spreads and Stop-Out level set at 20%. Instant trade execution is present as well with price guarantee feature, meaning that all trades will be executed with prices defined by user. This is a key factor of this account type, since it enables traders to precisely control their profits and transaction costs. Re-quotes are possible as well, as well as prolongation of execution time in the events of high market volatility. All in all, this is a great package for MT4 fans that demand fixed trading prices. MT4 NDD account is pretty similar to the already mentioned Standard type, but it adds commission of 0,007% and immediate market execution with best available prices. It is recommended for traders that are eager to take advantage of even the smallest price fluctuations, by utilizing superbly fast execution. Also, there is a Standard MT5 package that introduces brand-new MetaTrader 5 version of worldwide famous trading software. Apart from that, it also features 1:100 leverage, fixed spreads when volatility is too high, instant execution with guaranteed prices and requotes. This is a fantastic offer for fans of advanced MT5 interface, as well as for those who want fast executions with higher leverage rates and fixed prices without surprises.
We should also mention that there is a demo account present as well. It will grant you full access to all services provided by the broker, including learning courses and customer service, but without risking your own funds. Instead, it will provide you with virtual money that you can invest the same way you invest the real one. That way, you can learn and test new trading strategies for various trading instruments, as well as develop your own approaches to trading. All in all, in terms of account packages, we’re happy to state that TeleTrade truly did a fantastic job. Each type of trader will surely be able to pick his favorite account type. Now let’s move on to various trading platforms offered by the broker, so keep on reading our TeleTrade review and find out which platform to choose!
As a respectable broker, TeleTrade uses MetaTrader platforms to give its customers unforgettable trading experience. MetaTrader 4 and 5 are currently the most used and most popular trading platforms in the world. They feature highly advanced charting system with the ability to track multiple assets at once, impenetrable security systems, built-in trading and analytical tools and much more. On top of all of that, there is a lot of active users creating and distributing numerous educational resources meant to teach you both basic principles and advanced features of this fantastic interface. If you are looking for a perfectly stable and powerful trading platform that grows better with each published version, MetaTrader is your perfect companion.
TeleTrade has provided you with multiple ways of obtaining MetaTrader platforms, depending on your main trading devices. Owners of Mac computers can install the stand-alone desktop application using Wine, a simple software that creates a compatible environment on OS X for applications primarily meant to be used with Windows. The installation is swift and short-lasting, so you’ll be able to access markets in a matter of minutes. Windows users have multiple options – they can choose to install classic MT4 interface, MT4 Multiterminal for working with several demo and/or real trading accounts, as well as advanced MT5 interface. Detailed instructions and download links are provided on the broker’s website, so you shouldn’t experience any installation problems whatsoever, regardless of the chosen version. Mobile versions are present as well, both for Android and iOS devices. With these applications, you can trade on both demo and real accounts directly from charts, access real-time quotes and trading orders, as well as view full trading history. Both applications can be obtained directly from App Store and Google Play Store. There is also an online, browser-based version of the MetaTrader interface, based on MT4. It features various order execution types, customizable charts with the ability to track up to 9 assets at once, real-time asset quotes and basic analytical tools. You only need to be a registered client of TeleTrade to access web terminal.
As for the trading experience, it has been most exquisite regardless of the chosen platform and device. Everything works smoothly and without any problems, just as you should expect from a world-class brokerage company. Charts are immensely rich with various information, platform layout is well-designed and it’s easy to find your way around. You can also customize the layout to show only the things you need, and hide the rest if you want to. There are more than 30 different analysis tools that can help you predict future market changes if you know how to use them. But if you don’t, have no fear – education is next topic of our TeleTrade review, so keep on reading and discover just how much can you learn here!
One of the truly unique features offered by TeleTrade is definitely educational methods. Rather than just publishing a variety of materials on the website, the company has created something completely different. With TeleTrade, you will be able to attend seminars in the company’s offices for free, or sign up for webinars if you wish to broaden your knowledge remotely or if you’re unable to reach the offices. And all that for free! Keep on reading our TeleTrade review and see if there is any catch to it.
As we have already stated, TeleTrade offers the unique office-based education. It is designed specifically for people who are able to come to the company’s office that are found in major European cities such as Budapest, Barcelona, Warszawa, Berlin and Rome. As this is the most effective way of learning, you’ll surely make progress quicker than with other online learning methods. You can choose if you want to learn in a group or individually, depending on your personal preferences. Group trainings are created for future traders that are born team players, eager to develop their skills in the company of fellow trainees. On the other hand, personal sessions are held by an experienced trading professional who is there to share his vast knowledge with you. Also, you’ll be getting a personal instructor which will be observing your progress without distraction of other clients. You can contact your instructor anytime and set the time for your session when it suits you best. However, if you’re unable to reach one of multiple company’s offices, you can still learn much by signing up to remote learning program. Here you’ll be participating in various webinars held on a weekly basis, with the same itinerary as in the office-based learning program. Regardless of the type of education you choose, you’ll surely learn a lot. Starting off with price analysis and prediction, trough best practices for achieving significant earnings, all the way to trading psychology and sentiment – all key aspect of trading are covered in full. There is also a series of practical classes where you’ll be introduced to MetaTrader interfaces. Here you’ll learn all about strategies, real-time trading, charts and orders by using your free demo account, granted to you upon registering the learning program. With 50 thousand virtual dollars on it, it will surely suffice for all your trading needs. As you can see, TeleTrade is really up for making a difference, since their revolutionary approach to education of clients will surely be copied by others. We have participated in a series of webinars and must state that all of them are of highest quality, so you’re good to go here. Now, let’s see if we can say the same for support team and regulatory policies!
TeleTrade Review | Support and regulation
Customer support is the feature where TeleTrade truly shines. Consisted of experienced traders, senior market analysts and customer success specialists, the team is always at your disposal through various communication channels. You can contact each office separately by sending them e-mail or calling them. Also, you can send your inquiry by using a contact form embedded on the website, or you can reach out by opening online chat application. Be advised that, even though European and CIS countries are the broker’s main places of interest, offices are scattered across the globe, including Mexico, South Africa, South Korea and Russia. With more than 200 member of the team, you’ll surely get your response swiftly, regardless of the way you’ve decided to contact them. Our experience with the team has been nothing but positive, so we can wholeheartedly recommend them to anyone. Whether you’ve been stuck on account opening, or simply don’t know how to execute a specific command in MetaTrader, just reach out to them and all your issues will be immediately solved.
As we have stated in our Is TeleTrade a Scam article, the broker is fully regulated and licensed in all EU countries and all across the globe. Recognized and licensed for brokerage services by CySEC, a leading Cyprus-based regulatory agency, the company is fully legitimate and able to freely conduct its business. Apart from CySEC, due to MiFID law applied to all members of the European Union, the broker is also licensed by numerous other agencies. These include HCMC from Greece, FCA from United Kingdom, FFSA from Germany and many others. Strict regulatory procedures are reflected on the broker’s overall security as well, in a most positive manner. All your sensitive data is encrypted and stored safely, with your funds being deposited in a segregated account at trusted European banks. That way, your money will stay intact even in the event of company’s insolvency. A truly fantastic broker, don’t you think? But you still haven’t seen the best feature! We’ve saved the best for the end – read the next part of our TeleTrade review and discover how you can significantly increase your earnings!
Whether you’re a newcomer to the world of Forex or an experienced trader, you will surely benefit from Invest feature. This is basically a platform enabling you to either provide your strategy to other traders, or to simply copy trades created by more successful traders. What does this mean?
Well, if you are a trader, it gives you the opportunity to significantly increase your earning by investing in someone else’s trades. You just browse through the list of skilled traders ranked by their successfulness in creating good trades, pick the ones you like the most and invest. You can filter traders by their yield in a certain time frame, ranging from one month to the very introduction of that strategy. Everything is done automatically, and you can cancel copytrading at any given moment, thus retaining complete control over your trading account. Of course, you can reactivate the copytrading feature at any time, without any penalties or issues – it is completely free. Although it is highly recommended for beginners who don’t have enough time to educate themselves properly, more experienced traders can benefit from Invest feature as well. For each successful trade you’ve created, if someone copied your trade and also ended up in the money, you’ll get a commission deposited to your account. The more successful you are, the more traders can follow you and, thus, the greater total sum of commissions you’ll get. As you can see, Invest feature is actually a win-win situation for both traders and investors. On one hand, choosing a good trader will help you earn money without doing a thing. On the other hand, if you’re a skilled trader, you can additionally capitalize on your knowledge and experience. A truly fantastic offer, and a great wrap-up for our TeleTrader review article.
TeleTrade Review | Conclusion
As we have witnessed throughout various parts of our TeleTrade review, this is a truly sensational global broker. All of the reviewed features were of highest standard, with some truly unique ones putting TeleTrade in a spotlight for many potential customers. Its quality of service has been long recognized by trading experts, a proof of which can be found in numerous awards collected over more than 20 years of the company’s existence. Traders have a wide selection of account packages to choose from, each of them having its own unique perks. The backbone of TeleTrade is MetaTrader software, a trusted platform used by many brokers globally. Apart from utilizing powerful technology that truly helps traders in predicting market changes correctly, it is also the most powerful platform in the world with thousands of active users and a ton of support documentation. An ingenious approach to classic educational materials in a form of face-to-face learning program is a huge plus, as well as the fact that the company is fully regulated by several respected authorities. Furthermore, fantastic support team consisted of more than 200 experts scattered across 30 offices worldwide will surely fix any potential issue in a matter of minutes. Finally, Invest feature is a great way of earning additional money, whether you’re an average trader or a complete professional.
To conclude, we are more than thrilled with this broker. Our experts haven’t been able to find any flaws or resentments with any of the analyzed features. Also, there is absolutely no sign of scam activity at all, meaning that trading with TeleTrade will surely bring you nothing but fantastic experience and great profits. So what are you waiting for? Go on, open a free trading account, enter the market and change your life completely – you’ll be thanking us later!