Is TeleTrade Regulated? Is it safe? - TU Expert review
License is the most important document you have to consider when choosing a broker. Many traders, who would like to start working with TeleTrade try to check whether it is regulated. Traders Union experts have already done that. In this article, you will learn whether TeleTrade is regulated, what regulatory authorities supervise the broker and whether it is safe to work with the company in general.
Short summary about the broker TeleTrade
TeleTrade is a global broker serving clients worldwide. They offer trading on Forex, indices, stocks, metals,cryptocurrencies, and energies. While lacking PAMM accounts and certain investment options, TeleTrade boasts a robust copy trading service, a strong affiliate program, and diverse account types (ECN, NDD, crypto). With sufficient leverage (up to 1:500) and spreads from 0 pips, the broker caters to various trading styles, including scalping, intraday trading, and medium to long-term strategies.
TeleTrade supports traders with market analytics, expert forecasts, an economic calendar, and a comprehensive education section on their website.
| 💰 Account currency: | Euro, dollar |
|---|---|
| 🚀 Minimum deposit: | USD 10 |
| ⚖️ Leverage: | 1:500 |
| 💱 Spread: | From 0.2 pips |
| 🔧 Instruments: | Forex, metals, indices, energies, stocks, cryptocurrencies |
| 💹 Margin Call / Stop Out: | 100% / 20% |
Pros and cons of TeleTrade
👍 Advantages of trading with TeleTrade:
•detailed analytical section;
•informative educational section.
👎 Disadvantages of TeleTrade:
•no PAMM accounts or other money management options;
•a small range of trading instruments;
•few withdrawal options;
•support is available 24/5;
•withdrawals delayed;
•technical support responds slowly;
•sometimes it takes a long time to verify data.
Why is it important to work with a regulated broker?
License is a document that certifies that a broker operates legally and guarantees fulfillment of its obligations to the traders. A financial license is issued by a financial regulatory authority of a country (the National Bank) or a specialized authority (for example, Securities Commission, Futures Trading Commission, etc.). It is important to choose licensed brokers for the following reasons:
-
A license guarantees that the broker operates in compliance with the rules of the financial regulator that issued the document.
-
In order to obtain the license, a broker must comply with certain requirements, for example, the size of the authorized capital or personnel qualification. It is simply not lucrative for scammers to comply with such requirements.
-
A broker’s license provides access to real markets, and you can be sure that the quotes are real and up-to-date.
The best option is to work with a broker that holds the license of the jurisdiction, where the trader resides. You can also choose a company with a financial license of another reliable jurisdiction, for example, the U.S. or the European Union.
Is TeleTrade Regulated? Broker’s license
Security (Protection for Investors)
TeleTrade is regulated by the Cyprus Securities and Exchange Commission (CySEC). Also, the broker is a member of the Association of Forex Dealers, a self-regulatory organization.
Therefore, TeleTrade carries out financial activities in accordance with its own regulations and in compliance with the requirements of the regulator.
👍 Advantages
- The broker cannot use the funds of hte clients - they are held separately
- An independent person is involved in resolving disputes
- Rights and obligations are clearly defined in the agreement
👎 Disadvantages
- Claims of private traders who trade in small amounts are not considered
Brokerage fees
Broker’s regulation is the most important choice criterion. However, before you start working with the broker, it is also important to analyze its commissions and fees. TU analysts have studied the commissions and fees charged by TeleTrade, which you can see below.
Our analysts analyzed the broker’s trading and non-trading fees. The first was the company's spread, the second was additional fees for withdrawing funds.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard ECN | $17 | No |
| Professional NDD | $9 | No |
| Sharp ECN CENT | $2 | No |
| Cryptocurrency account | $3 |
Brokers that are similar to TeleTrade
Many brokers operate legally, obtaining relevant licenses and permissions. However, when choosing a broker, it is important to compare their trading conditions. TU experts have prepared a comparative analysis of TeleTrade conditions with its closest competitors.
Comparison of TeleTrade with other Brokers
| TeleTrade | RoboForex | Pocket Option | Exness | Octa | IC Markets | |
|---|---|---|---|---|---|---|
Trading platform |
MT4, MT5 |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MetaTrader4, MetaTrader5 |
MT4, cTrader, MT5, TradingView |
Min deposit |
$1 |
$10 |
$5 |
$10 |
$25 |
$200 |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
No |
No |
No |
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
Spread |
From 0.8 points |
From 0 points |
From 1.2 point |
From 1 point |
From 0.6 points |
From 0 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution |
No deposit bonus |
No |
No |
No |
No |
No |
No |
Cent accounts |
No |
Yes |
No |
No |
No |
No |
TeleTrade is a broker for traders who value the variety of trading instruments and trade using their PC or a mobile app. The company is a good broker both for beginners and experienced traders.
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Pocket Option offers a wide range of trading instruments and copy trading services. It constantly improves its service quality and expands the list of assets and trading platforms. The broker is suitable even for novice traders without significant capital due to the low initial deposit. Experienced traders who work with CFDs and binary options can also use Pocket Option’s services.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
The Octa broker has tried to adapt its conditions as much as possible to the various trading strategies used by traders. However, at the moment the company is more focused on active market participants, rather than passive investors.
IC Markets Trading Company is a great broker for scalping enthusiasts, automated trading lovers, and beginner traders.
Conclusions
TeleTrade cannot be considered absolutely reliable. The broker operates on a license of an offshore regulator. This creates certain risks regarding security of your funds. The broker has a good reputation. However, you can work with companies with an offshore regulation only at your own risk.
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FAQ
How difficult is it to obtain a brokerage license?
The procedure for obtaining a license differs depending on the jurisdiction, but it is very difficult and expensive to get the document in a reliable jurisdiction. This is why only reliable brokers obtain licenses.
Why is it not recommended to work with offshore brokers?
Offshore brokers have to meet minimum requirements for obtaining a license and reporting, which is why often scammers get such licenses.
Can an offshore broker be reliable?
Yes, although there are not many of such brokers. There are brokers with a good reputation, but with an offshore license. You still need to be very cautious when working with such companies.
How do I check a broker’s reputation?
In order to check a broker’s reputation, you need to read user reviews. However, it is recommended to only use independent websites for that.
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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.