MTrading vs TeleTrade - Fees Review included
Which broker is better MTrading or TeleTrade? Our expert assessment conducted according to TU’s own methodology showed that MTrading is one of the top brokers in the financial market with the TU Overall Score of 2.99 out of 10. TeleTrade is one of the top brokers in the financial market with the TU Overall Score of 8.92 out of 10. Find out more about TU Overall Score.
| Feature | MTrading | TeleTrade |
|---|---|---|
Overall |
3.5 |
4.3 |
1 |
4.4 |
|
3.8 |
4.6 |
|
3.6 |
4.0 |
|
Investment Instruments |
3.5 |
4.5 |
Platforms and Charting Tools |
3.6 |
4.5 |
Deposit and Withdrawal |
4 |
4.2 |
Research |
3.5 |
4.5 |
Education |
3.5 |
4.0 |
Support |
4.1 |
4.6 |
Bonuses |
4.2 |
44655 |
|
|
|
MTrading vs TeleTrade: Pros and Cons
“MTrading” broker is the company that presents its brokerage services in the field of online-trading, giving a possibility to deal with currencies, precious metals, securities, etc. “MTrading” company offers to use up-to-date and advanced software, which will allow you to carry out an efficient trading on the financial markets regardless of your experience.
“TeleTrade” broker was established in 1994. Today, this company provides its customers with a possibility to trade on the financial market. Traders are able to work with currency pairs, futures and contracts for difference. “TeleTrade” broker is a member and one of the initiators of the self-regulatory organization called NAFD.
| MTrading | TeleTrade | |
|---|---|---|
| Overall Pros | Low minimum deposit requirements | Reliable regulation |
| Demo account is free and available | Low fees | |
| Copy trading avaible | Passive investment tools available | |
| Good selection of analytics tools | ||
| Overall Cons | Not regulated | Limited choice of assets for trading |
| No cent accounts | Low probability of replenishment of the savings | |
| No bonuses for traders |
MTrading vs TeleTrade: Safety and Regulation
| Regulated By: | MTrading | TeleTrade |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
No |
MiFID (EU) |
MTrading vs TeleTrade: Trading Conditions
| Trading Conditions | MTrading | TeleTrade |
|---|---|---|
Minimum Deposit |
$1 |
$1 |
Trading Platforms |
MetaTrader 4, MT4 Multiterminal, MT4 Supreme Edition, MT4 Web Trader |
MT4, MT5 |
Max Leverage (Futures) |
1-1000 |
1-500 |
Supported Markets |
Forex, Stocks, Commodities, Indices |
Forex, CFD on metals, energies, indices, stocks, crypto |
Trading assets |
100+ |
200+ |
Trading Accounts |
Demo, M.Premium, M.Pro |
MetaTrader 5 - ECN, MetaTrader 4 - NDD, MetaTrader - CENT, Demo Account |
Base Account Currencies |
EUR, USD, RUB |
USD, EUR |
MTrading vs TeleTrade: Fees
Forex Trading Fees
| Fee | MTrading | TeleTrade |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
0.8 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
0.008-0.1% per lot |
ECN Account EUR Average Spread |
Not supported |
0.2 pips |
CFD Trading Fees
| Fee | MTrading | TeleTrade |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | MTrading | TeleTrade |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
Visa/Mastercard - 1,5%; Perfect Money - 1%; Wire transfer/Skrill/Neteller - 0% |
Bank Transfer - 0%, Visa, MasterCard - 3.5%, Skrill - 2.9%, Neteller - 3.9% + $0.29 |
Withdrawal Fee |
Visa/Mastercard - 1,5%; Perfect Money - 1%; Wire transfer - 0%; Skrill/Neteller - 3% |
SEPA - $1, Non-SEPA - 0.1%, Visa, MasterCard - 2.35% + 1 EUR/1.30 USD, Neteller - 2%, Skrill - 1% |
Inactivity Fee |
No |
$50 per month after 3 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
MTrading vs TeleTrade: Trading Assets
| Asset Name | MTrading | TeleTrade |
|---|---|---|
Overall |
100+ |
200+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
MTrading or TeleTrade: Investment Programs
| Asset Name | MTrading | TeleTrade |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
Yes |
Other |
No |
No |
Trading Platforms: TeleTrade or MTrading
| MTrading | TeleTrade | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
No |
|
|
|
MTrading vs TeleTrade: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | MTrading | TeleTrade |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
MTrading vs TeleTrade: Research
| Research Type | MTrading | TeleTrade |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
No |
MTrading vs TeleTrade: Education
| Education Type | MTrading | TeleTrade |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
No |
No |
Cent account |
No |
Yes |
TeleTrade vs MTrading: Support
| Support Features | MTrading | TeleTrade |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
MTrading vs TeleTrade: Forex Bonuses and Promo
| Promo | MTrading | TeleTrade |
|---|---|---|
Forex Bonus |
Welcome Bonus 30$, Deposit Bonus up to 200%. |
100% welcome bonus |
Affiliate Program |
Yes |
For each invited client, a trader can receive $20 if the trader is active (fulfills the broker's requirements for the largest amount) - $500. |
Other Promos |
No |
|
|
|
|
Top 5 Reviews on TeleTrade
-
Comment
TeleTrade is a normal broker. I’ve been cooperating with them since the beginning of 2018 and overall I’m happy with everything. Good order execution, low spreads, convenient user account, many ways to deposit/withdraw. At first, the complete absence of promotions and bonuses was unusual, but I understood that all reputable brokers don’t really offer them. Overall I’m satisfied. The TeleTrade broker works honestly and does not commit manipulations.
-
Comment
I think that if there are dissatisfied with the TeleTrade broker, it is quite a bit, 10%, no more) It's a joke))) The company is very suitable for trading on Forex. I've been here for a very long time, and I can say that this is 100% not a scammer! Trade, be satisfied!
-
Comment
TeleTrade has been on the market for a long time. This means that she can definitely be trusted. And I am her client, although I do not always agree with the conditions that the broker provides. The company is normal, that's for sure, don't be afraid to open an account here.
-
Comment
I will not say that I am a pro in the foreign exchange market, but I am no longer a beginner either. I have been trading for 3 years, and from the first day in TeleTrade. A very reliable company. And responsible. Withdrawal requests are always processed within the agreed time frame, quotes are not changed. For experienced traders, there are ECN accounts, but I just can’t sharpen my strategy for a brokerage commission, so I work on the classics, where there is only a spread. I also like that the TeleTrade website has a lot of useful information that can be useful not only for beginners. For example, I got the idea for my trading system, which is based on entering the market after the breakdown of the morning flat, on the broker's website. So far, I am satisfied with the cooperation with TeleTrade.
-
Comment
There are pros and cons to TeleTrade. The leverage needs to be increased and the spread needs to be reduced. So that traders have more profit. Then clients will seek to work with TeleTrade. On the plus side, the trading platform works very well, I have not seen any failures.
Top 5 Reviews on MTrading
-
Comment
Without a doubt, MTrading is reliable. I opened an account there a long time ago and during all this time there was no reason to change the broker. The main thing is that I have withdrawn my profits more than once to different payment systems; depending on the system, withdrawals take from two hours to two days. There are no special complaints regarding trading. There are, however, gaps and slippages. Well, where would we be without them? But I didn’t notice any manipulations on the part of MTrading.
-
Comment
MTrading is one of the oldest brokers and it has a high rating on various platforms. Therefore, many people leave positive reviews of this company. What I personally want to say about MTrading is that its conditions are the same as with others, reliability is also an important aspect for work. I am satisfied with the withdrawal process, because all funds are withdrawn on time and in full.
-
Comment
I tried trading with MTrading twice. The first time, I lost money, but I assumed it was due to my mistakes. However, when I tried trading here again a year later, I realized that the issue was not with me but with the company. The MTrading platform is very slow, making it impossible to open trades quickly. Moreover, the gaps that appear every day can wipe out all trades.
-
Comment
Collaborating with MTrading has caused significant issues. I don't believe this company is focused on providing quality brokerage services. After transferring my funds here, the platform stopped working altogether after three months of trading. I waited for another two months, wrote emails to MTrading's support, but there was no result. Now I've received a message that MTrading has fixed the platform, and trading is possible again. However, I no longer wish to deal with this broker.
-
Comment
Mtrading isn’t licensed by any regulator. Therefore, no one can give you a guarantee that there will be no problems with trading and finance. And there are a lot of problems. I opened an account with Mtrading three months ago and have already lost $250. The broker's trading platform works very slowly and Internet connection often disappears. Therefore, it is impossible to trade profitably. And since the company does not have a regulator, there is no one to complain to.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.