Is TeleTrade a Scam?
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!