Is TeleTrade Regulated in Ukraine? Is it Legit? - TU Expert review
TeleTrade is a regulated Forex broker supervised by financial authorities in. The broker adheres to the standards established by its regulators, ensuring a secure and transparent trading environment. TeleTrade countries of regulation:
| Regulator | Full name | Country |
|---|---|---|
| SVG FSA | Financial Services Authority of St. Vincent and the Grenadines | St. Vincent and the Grenadines |
Is TeleTrade regulated in Ukraine? 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
Is TeleTrade regulated in Ukraine? Broker’s license
TeleTrade regulation review
| Regulator | Country | Regulation level | Investor Protection Fund |
|---|---|---|---|
|
SVG FSA
|
St. Vincent and the Grenadines | Tier-3 | No specific fund |
Understanding Forex Regulation Levels
When choosing a Forex broker, their regulatory framework plays a pivotal role in ensuring trust and security. Below is an overview of the different regulatory tiers:
-
Tier-1 Regulators:
These authorities are globally recognized for their strict oversight and high compliance standards. They prioritize trader safety, financial transparency, and overall market stability. Notable examples include the FCA in the United Kingdom and ASIC in Australia. -
Tier-2 Regulators:
While not as stringent as Tier-1, these regulators enforce solid compliance protocols that provide traders with a fair degree of security and reliability. -
Tier-3 Regulators:
Often limited to simple registration processes, Tier-3 regulators operate in jurisdictions with minimal oversight. Brokers under Tier-3 regulation face fewer compliance demands, offering traders less protection.
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 1:1000) 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: | 1:1000 |
| 💱 Spread: | From 0.2 pips |
| 🔧 Instruments: | Forex, metals, indices, energies, stocks, cryptocurrencies, ETF, Bonds |
| 💹 Margin Call / Stop Out: | 70% / 20% |
Pros and cons of TeleTrade
👍 Advantages of trading with TeleTrade:
•detailed analytical section;
•informative training section;
•Invest Start risk-free investment service;
•interest accrual on deposit;
•copytrading service;
•several affiliate programs with high payouts.
👎 Disadvantages of TeleTrade:
•no PAMM accounts or other money management options;
•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 for a broker to have the license in Ukraine?
A financial license is the key document for any broker. It confirms that the company complies with the requirements of the financial regulator and observes the law. It is important for traders to choose a broker registered their jurisdiction for the following reasons:
-
Any claim is filed at the place of the broker’s registration. Accordingly, in case any dispute arises, it will be easier for the trader to file a claim.
-
A license issued in Ukraine guarantees that the broker operates in compliance with the laws of this country and reports to the local regulatory authorities.
-
Traders can claim compensation under the government programs of deposit guarantees in case the broker experiences financial problems.
It is also possible to choose a broker that is not regulated in Ukraine. In that case, however, the company must have a license from a reliable regulator, for example of an EU country, the UK, USA, Australia, etc.
Brokers that are similar to TeleTrade
In addition to TeleTrade, also other brokers from this jurisdiction have the license of Ukraine. TeleTrade has many competitors, and before you start working with this broker, you need to compare it to other companies. TU analysts have prepared a comparison of brokers that operate in the Ukraine market and have a license of this or another reliable jurisdiction.
Comparison of TeleTrade with other Brokers
| TeleTrade | Eightcap | XM Group | RoboForex | Pocket Option | LiteFinance | |
|---|---|---|---|---|---|---|
Trading platform |
MT4, MT5 |
MT4, MT5, TradingView |
MT4, MT5, MobileTrading, XM App |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
MT4, MT5, MultiTerminal, Sirix Webtrader |
Min deposit |
$10 |
$100 |
$5 |
$10 |
$5 |
$10 |
Leverage |
From 1:1 |
From 1:30 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
No |
No |
Yes |
Accrual of % on the balance |
1.00%% |
No |
No |
10.00%% |
No |
7.00%% |
Spread |
From 0.2 points |
From 0 points |
From 0.8 points |
From 0 points |
From 1.2 point |
From 0.5 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution |
Market Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
No deposit bonus |
No |
No |
No |
No |
No |
No |
Cent accounts |
Yes |
No |
No |
Yes |
No |
Yes |
Is it safe to trade with TeleTrade in Ukraine?
TeleTrade is not regulated in Ukraine. The company does not hold a financial license, which could raise certain security-related questions. Nevertheless, the company has a good reputation and has proven its reliability to traders. TeleTrade offers attractive conditions; many traders in Ukraine have chosen to work with this broker. However, be aware of the risks when working with such companies.
FAQ
How do I check a broker’s license?
Brokers should provide their license on their official website. It is also recommended to check it on the official website of the financial regulatory authority.
Does a broker need to have an official representative office in Ukraine?
Yes. According to the rules of Ukraine, brokers must have an office in Ukraine. This is a mandatory condition for obtaining the license.
Can the license issued by Ukraine be considered reliable protection against fraud?
Yes. The rules of the financial regulator of Ukraine are very strict, which makes obtaining a license in this jurisdiction extremely difficult for scammers.
What kind of information should a broker provide for traders?
On their official websites, brokers must provide the name of the managing company, r egistration certificate, legal address and internal regulatory documents.
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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.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.