TeleTrade offers Forex and CFD trading through ECN and NDD accounts. TeleTrade was founded in 1994.
Experienced traders may prefer MT5, which offers a wider range of technical indicators, as well as other advanced features such as Depth of Market view, economic calendar, and built-in community chat.
The MT4 MultiTerminal desktop application is also available for investors or traders who work with multiple accounts at the same time from Mac or Windows computers.
Traders can access over 60 major, minor and exotic currency pairs, as well as 19 cryptocurrencies. A wide range of CFDs are also available, including agricultural commodities, precious metals and energies, as well as dozens of global indexes and shares.
TeleTrade offers tight ECN spreads for the MT5 account, starting at 0.2 points for EUR / USD. However, for a standard MT4 account, the spread is around 1.6 points for the same pair.
Commission-free trading is available with the standard MT4 account, but there are 0.007% and 0.008% commissions for NDD and ECN accounts, respectively.
Other fees include a swap fee for overnight positions and a € 50 inactivity fee for accounts that have been inactive for 3 months.
For professional clients, a maximum leverage of 1: 500 is available. Otherwise, leverage limits for retail clients range from 1: 2 to 1:30 depending on the asset traded. The margin requirements are listed on the website.
TeleTrade offers its own TeleTrade Analytics mobile app that provides detailed market analysis, economic calendar, news, videos and more. The app can be installed from the App Store or Google Play.
MT5 for Mobile is also available for iPhone and Android users, offering real-time quotes on both live and demo accounts. Users can trade directly from interactive charts and view the complete history of transactions. A good selection of custom indicators and advanced order types are also available.
Top-ups in EUR or USD are available via bank transfer, credit and debit cards and e-wallets including Skrill, Neteller and Fasapay. Most of the methods are processed in a few minutes, with the exception of bank transfer, which can take 2-3 business days.
All withdrawal methods usually take 1-2 business days to process. Commission may apply.
TeleTrade offers a demo account with a virtual balance of USD 50,000, providing access to real-time trading on over 200 instruments and is available 14 days from the date of registration.
Apart from the VIP program, which offers discounts on spreads and other perks, TeleTrade does not offer any other bonus offers, promo codes or contests.
TeleTrade-DJ International Consulting is registered as a Cyprus Investment Firm (CIF) and is licensed by CySEC under license number 158/11. TeleTrade also operates under the Markets in Financial Instruments Directive (MiFID), which regulates financial services in the EU.
Additional educational resources include free Forex webinars from investment experts, tutorials for beginners, and daily video market briefings. A helpful interactive graph and economic calendar also allows you to keep track of current prices and world news. Several useful forex calculators are also available, including margin and points calculators.
TeleTrade also offers its own platform for copying trades, TeleTrade Invest allows investors to copy positions of experienced traders.
TeleTrade offers 3 account types that define access to MetaTrader platforms: Standard (MT4), NDD (MT4) and Real ECN (MT5). All accounts require a minimum deposit of $ 100 and a minimum contract size of 0.01 lot. Hedging is also allowed for all three accounts.
Standard MT4 offers the highest spreads starting at 1.1 points, but no commission (except 0.1% on US stock CFDs). The other two commission accounts offer tighter spreads.
The best way to contact support is via live chat. Alternatively, you can contact the broker by email or phone.
MetaTrader platforms are protected by 128-bit encryption technology as well as two-factor authentication. Communication between client computers and servers is also fully encrypted when entering the Personal Account.
Reviews from another brokers: