Quotex vs TeleTrade - Fees Review included
Which broker is better Quotex or TeleTrade? Our expert assessment conducted according to TU’s own methodology showed that Quotex is one of the top brokers in the financial market with the TU Overall Score of 7.76 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 | Quotex | TeleTrade |
|---|---|---|
Overall |
2.8 |
4.3 |
1 |
4.4 |
|
3.3 |
4.6 |
|
3.1 |
4.0 |
|
Investment Instruments |
1 |
4.5 |
Platforms and Charting Tools |
3.9 |
4.5 |
Deposit and Withdrawal |
4.6 |
4.2 |
Research |
1.5 |
4.5 |
Education |
2.3 |
4.0 |
Support |
3.0 |
4.6 |
Bonuses |
3.8 |
44655 |
|
|
|
Quotex vs TeleTrade: Pros and Cons
QUOTEX is a broker specializing in binary options trading. The company was established in 2019. Its clients can trade currencies, metals, oil, cryptocurrencies, stock indices and earn a profit of up to 90% of the value of the option. QUOTEX has developed a proprietary trading platform which is easily customized, supports 29 technical indicators and allows investments from USD 10. The broker’s team provides support 24/7. Personal and payment information of the clients are protected with two-factor authentication
“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.
| Quotex | TeleTrade | |
|---|---|---|
| Overall Pros | Affordable minimum investment amount – USD 10 | Reliable regulation |
| No trading fees and no deposit, withdrawal and account fees | Low fees | |
| Algorithmic trading is technically impossible | Passive investment tools available | |
| Good selection of analytics tools | ||
| Overall Cons | No Regulatory License | Limited choice of assets for trading |
| Low probability of replenishment of the savings | ||
| No bonuses for traders |
Quotex vs TeleTrade: Safety and Regulation
| Regulated By: | Quotex | TeleTrade |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
No |
MiFID (EU) |
Quotex vs TeleTrade: Trading Conditions
| Trading Conditions | Quotex | TeleTrade |
|---|---|---|
Minimum Deposit |
$10 |
$1 |
Trading Platforms |
Own platform |
MT4, MT5 |
Max Leverage (Futures) |
Not provided technically |
1-500 |
Supported Markets |
Currencies, raw materials, stocks |
Forex, CFD on metals, energies, indices, stocks, crypto |
Trading assets |
80+ |
200+ |
Trading Accounts |
Single account for binary options trading |
MetaTrader 5 - ECN, MetaTrader 4 - NDD, MetaTrader - CENT, Demo Account |
Base Account Currencies |
USD, EUR, GBP, BRL, IDR, MYR, INR, KZT, RUB, THB, UAH, VND, NGN, MXN, EGP |
USD, EUR |
Quotex vs TeleTrade: Fees
Forex Trading Fees
| Fee | Quotex | TeleTrade |
|---|---|---|
Standard Account EURUSD Average Spread |
The reward depends on the type of asset and the situation at the time of the transaction. The amount of remuneration - 15-90% of the investment amount |
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 | Quotex | TeleTrade |
|---|---|---|
CFD Trading Fee |
Reward - 15-90% |
Floating spread |
Non-Trading Fees
| Fee | Quotex | TeleTrade |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
Bank Transfer - 0%, Visa, MasterCard - 3.5%, Skrill - 2.9%, Neteller - 3.9% + $0.29 |
Withdrawal Fee |
No |
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.
Quotex vs TeleTrade: Trading Assets
| Asset Name | Quotex | TeleTrade |
|---|---|---|
Overall |
80+ |
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 |
Quotex or TeleTrade: Investment Programs
| Asset Name | Quotex | TeleTrade |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
Yes |
Other |
No |
No |
Trading Platforms: TeleTrade or Quotex
| Quotex | TeleTrade | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
Own trading platform |
No |
|
|
|
Quotex vs TeleTrade: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Quotex | TeleTrade |
|---|---|---|
Bank Transfer |
No |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
No |
Quotex vs TeleTrade: Research
| Research Type | Quotex | TeleTrade |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Quotex vs TeleTrade: Education
| Education Type | Quotex | TeleTrade |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
No |
Articles |
No |
Yes |
Videos |
No |
No |
Cent account |
No |
Yes |
TeleTrade vs Quotex: Support
| Support Features | Quotex | TeleTrade |
|---|---|---|
Working Days |
24/7 |
24/5 |
No |
Yes |
|
Phone |
No |
Yes |
Online chat |
No |
Yes |
Other |
Feedback form |
No |
Quotex vs TeleTrade: Forex Bonuses and Promo
| Promo | Quotex | TeleTrade |
|---|---|---|
Forex Bonus |
Welcome bonus 30% when opening a real account. Cashback, bonus for using "deal cancellation" |
100% welcome bonus |
Affiliate Program |
Yes. Payouts up to 80% of income or up to 7% of referral turnover |
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 Quotex
-
Comment
Probably the best trading platform out there, saying this because I've used alot,the user interface is just superb couple with the simplicity, it's just too good,try it out you won't regret
-
Comment
I've been using Quotex for a while now and I'm comfortable with the platform. It's user-friendly and intuitive, which makes the registration process easy. The variety of assets available for trading is exciting, and trading operations have been smooth. I highly recommend it to anyone looking for a reliable app. Deposits and withdrawals are fast and trouble-free, which reassures me that I can easily deposit funds and withdraw profits quickly.
-
Comment
After a year with Quotex, I think it's a decent platform. I mainly trade EUR/USD and EUR/GBP through mt4, and the charts match up perfectly with Quotex's platform, no choppiness or unpredictability issues, unlike other brokers. Also, there's no sketchy stuff going on from what I can tell. You just need to put in the work studying the markets. My process is analyzing on mt4, then quickly executing trades on Quotex. So far my win rate is over 80%. I always test new strategies on the demo account first before going live. I started with just $100 and have grown it to $506 by actually understanding the fundamentals instead of blindly following indicators. While trading always carries risk, Quotex seems legit based on how it matches pricing across platforms.
-
Comment
Quotex is so far the fastest binary broker to navigate through and load, lightest and most convenient with deposits and withdrawals as it offers a wide number of payment options which makes it easy to use from any country in the world as per my experience from a couple of months using it. Quotex also has the fastest withdrawals as per my experience. It has a good looking interface too which doesn't bore or cause eye straining to the user, so you can stay before your screen for a very long time without disturbance. With Quotex, you can trade anywhere since it is very compatible with smartphones. Anyone who trades wisely (with patience, analysis and with no greed) is very more likely to grow financially. Hence I rate Quotex 5 stars!
-
Comment
Quotex platform is user friendly, easy to trade, simple view with Options quite clear for better understanding for beginners as well. Almost all the valuable currency pairs are available with commodities. Even the indicators sections have a variety of options. One of the best things I have found is deposits and withdrawals are fast.
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.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.