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TeleTrade provides traders access to an array of financial markets. The brokerage was founded close to a decade ago back in 2007 and has since then received CySec regulation approval in 2010. The company’s central office is in Nicosia, Cyprus, but they have over 200 branch offices in 30 countries.
The company currently employs more than 3000 workers. The brokerage offers traders the option to trade CFDs on futures, stocks, currencies as well as Forex. TeleTrade has also received two prestigious awards. The first being for the Best Trading Platform Southern Europe back in 2013, and the second for Best Forex Customer Service Broker Europe in 2013.
Account Types Offered
The broker offers just two VIP accounts and a demo account. The accounts chosen will mainly depend on the trader’s initial deposit size, after which they are assigned one of the two VIP statuses. The first is VIP Gold which requires a $50,000 deposit. The other is the VIP Platinum for those who deposit over $500,000.
The VIP Gold account is open for trading five days a week, and that is during business hours from between 9:00 to 21:00. Traders can also benefit from the 24% annual interest rate which is available via concessional terms by the company.
Using the VIP Platinum account traders can trade seven days a week except for during specially designated holidays like bank holidays and other public holidays. Traders benefit from a yearly 28% interest rate on special concessional terms when using the VIP Platinum account.
Rapid order execution, fixed spreads, and even a personal account manager are available for both. Plus, traders get free admission to all the workshops and training programs as they become available. Rapid replenishment of the account means that traders get an interest free loan from the company which is without interest for 14 days or 2 weeks.
Features and benefits
Perhaps the one unique feature of TeleTrade is their ’Synchronous Trading.’ Consider this their version of social trading. Investment Synchronous Trading allows traders to invest in financial markets via a separate URL: sync.teletrade.eu.
The technology will enable traders to view their results and statics as well as keep an eye on the Master Traders and their results. Traders can also choose to diversify their portfolio to minimize risks. Several Masters can be selected, along with the best trading strategies and then start copying their trades.
Almost any trader can become a Master trader by registering for a master account which entitles them to an additional source of income from all their successful trades. Also, traders don’t have to make a huge investment or do any additional work except for executing winning trades.
The more people there are copying the Master’s strategies, and trades the higher will be the commission they earn. All traders have a long list of Master Trader accounts from which they can choose the specific time frames within a year as well as for all times. Though the company does not offer any additional trading tools.
Promotions and Bonuses
TeleTrade does not offer any real promotions or bonuses, to say the least. But the attractive part of their offer is the 24% interest on the Gold account and 28% on their Platinum account. So, you can consider the savings a bonus in itself.
Plus, traders can get a quick advance refill which can be a maximum of 20% of their deposit in the way of an interest-free loan payable within two weeks. We will consider this an indirect incentive.
TeleTrade has a section called ”Forex for Beginners” which offers newbie traders information about the financial markets. It provides insights into various types of trading and a couple of basic CFDs trading strategies. Its mainly a lot of basic stuff with topics like ’What is Forex About,’ ’What are CFDs,’ ’What is the Stock Market About,’ ’Who is the Trader?’ etc.
Educational material is available in the form of analysis and graphs. The graphs give a visual view of their earning potential over the past week, as well as how these market fundamentals are going to affect a change in prices if there is going to be any. Plus, what are the fundamentals of market analysis.
TeleTrade offers trades an array of resources like lecture notes, CDs, videos, DVDs, eBooks, etc. Plus, traders can meet real pro traders via a number of in-house seminars and workshops held locally at TeleTrade’s offices.
The weekly analysis is accompanied by a number graphs which are presented on everything from stocks, to oil, currencies, and gold. Traders also receive a daily dose of market focused news as well as an economic calendar. So, they are always up to date on upcoming and current events across the world.
Featured offer by TeleTrade
Perhaps the best feature in our opinion that the company has to offer this their robust trading platform. MetaTrader 4 is one of the best platforms out there, not the mention the fact that it’s also the most popular.
So, by offering MT4 as a platform and with many offering MT5 looking forward things are certainly moving in the right direction. Teletrade offers both MT4 and 5 in all the versions you can think of making it easy for the broker’s traders to quickly access their account from where ever they want even from mobile devices.
TeleTrade traders using the MetaTrader 4 platform available in just about every version out there including MetaTrader 4 MultiTerminal, MetaTrader 5 and regular MT4. All that’s required is for a trader to download their relevant file via the standard procedure which just about anyone can do who can use a computer. There is also a live, web version available that can also be used.
The mobile version of the MetaTrader 4 platform is available for iPhones, iPod touch, and the iPad. All of these versions enable traders to trade with the real as well as their demo accounts. Plus, traders can make use of tools to view quotes, graphs and other aspects of the market in real time.
Traders have the ability to trade directly via charts as well as see their complete trading history which is ideal for anyone who performs regular analysis.
The MT4 trading platform is not natively available for the Mac OS, but traders can run it via Wine. Wine is free to download and allows users to simulate Microsoft Windows on their machine which will then enable them to run MT4 and MT5.
Withdrawal and Deposit Methods
Traders can fund their TeleTrade trading accounts via regular wire transfer, RBKmoney, WebMoney, Yandex, PayOnline and all debit/credit cards. Withdrawals are processed via the same methods as those chosen for making deposits.
Teletrade representatives can be contacted over the phone or via email and fax. All feedback, suggestions, and complaints can be sent via the online form. The live chat option is non-existent which is strange for a company of this size and stature. That said you can find it available as an ”online-consultant” option.
Without a doubt, TeleTrade has an international reach via their presence. The website offers many great features but tends to be missing many standard items. For starters, they don’t provide any real bonuses or even seasonal promotions. Then there is very little information about the two accounts they provide.
TeleTrade strangely does not have an FAQs section which is very useful for those who are new to the broker or even an experienced trader will need it from time to time. Also, there is a lack of detailed withdrawal and deposit information. We had to find other sources of this information to present it in this review. The other missing part is a financial glossary
Is this your final decision?
We suggest you visit one of the popular Forex Broker instead!
- International Presence
- Fast Costumer Service
- Great Mobile Platform
- Extensive Asset List
- Slightly Antiquated Platform
- No Bonuses