Teletrade Review

Review

TeleTrade is an online broker providing access to trades across a wide range of financial markets. It was founded in 2007 and received CySec regulation in 2010.Teletrad’s main office is located in Nicosia, Cyprus and it has over 200 offices in 30 countries and more than 3000 employees. Clients can trade Forex, as well as CFDs on commodities, stocks, futures and currencies.

Teletrade.eu is the recipient of two prestigious awards: Best Trading Platform Southern Europe 2013” and “Best Forex Customer Service Broker Europe 2013”.

Accounts

Teletrade offers two VIP accounts and one demo account.

Depending on the size of the deposit, traders may be assigned one of the two VIP-statuses: VIP GOLD with a deposit of $ 50,000 or VIP PLATINUM with a deposit of $ 500,000.

The VIP Gold account is available for trading 5 days a week during working hours-From 9.00 to 21.00. A monthly interest at the rate of 24% per annum is available on special concessional terms.

Trading in the VIP Platinum account is available at any time of the day, 7 days a week excluding specially declared public holidays and bank holidays.

A monthly interest at the rate of 28% per annum on special concessional terms is offered for this account.

TeleTrade VIP Accounts

Fixed spreads, rapid order execution and a personal account manager are offered for both and free admission to all workshops and training programs is available. There is also rapid replenishment of account at the expense of TeleTrade in the form of an interest-free loan for up to 2 weeks.

Features

A unique feature at Teletrade is what they call ‘Synchronous Trading.’  This is actually their social trading option.

Investment Synchronous Trading is a new way of investing in the financial markets and is conducted through a separate link (sync.teletrade.eu).  By using this advanced technology clients can monitor the group of successful traders--Masters Traders—and view their trading results and statistics. To diversity their risks, they can select several Masters, choose the most appropriate trading strategies and begin copying their trade.

All traders can become Master traders by registering a Master account and earning additional income for their successful trades. There's no need for them to make large investments or do anything other than just trade. The more Investment Account holders who copy a Master’s strategies, the greater the commission he/she stands to gain.

Master Traders Accounts on TeleTrade's Synchronous Trading

A list of Master Trader accounts is provided and traders can choose specific time frames from a year to all times. 

Additional trading tools are not offered.

Bonuses/Promotions

There are no real bonuses or promotions provided by TeleTrade. However, they do offer a generous monthly interest rate (24% on the Gold account and 28% on the Platinum account) which they consider a savings account bonus.

In addition, an advance refill of up to 20% of the deposit in the form of an interest-free loan for up to 2 weeks can also be considered a bonus.

Education

“Forex for Beginners’ is a special section of the website offers newbie traders who could use additional information in order to understand financial markets and CFDs before opening an account and placing a trade.

Topics covered include ‘What is Forex About’, ‘What is the Stock Market About,’ ‘What are CFDs’, ‘All About Markets’ and ‘Who is the Trader?’

TeleTrade Education for Beginners

It offers educational material is in the form of graphs and analysis that will show them how and how much they can earn over the past week, how market  fundamentals affect the change in prices of various assets and how to understand the basics of market analysis.

There is also a variety of resources for all traders which include ebooks, lecture notes, CD and DVD videos and traders can ‘meet’ real professionals via free in-house seminars and workshops are held at local TeleTrade offices.

Weekly analysis accompanied by graphs is presented on currencies, gold, oil and stocks.

News and market focus are presented on a daily basis and an economic calendar keeps traders up-to-date on events taking place throughout the world.

TeleTrade Market Analysis and News

Deposits/Withdrawals

Funding for TeleTrade accounts can be made via Wire transfer, Qiwi, RBKmoney, Yandex.Money, PayOnline, WebMoney and Credit/debit cards.

Withdrawals are made using the same method chosen for deposits.

Customer Support

Traders can contact a Teletrade representative by telephone to the Nicosia office or by email and fax. Suggestions, complaints and feedback can be sent via an online form. At first I was unable to see any live Chat and was surprised that this was not available. On closer inspection, however, I discovered that it was offered as “online-consultant.”

Conclusion

TeleTrade is a broker with international reach. The website offers some good features but seems to missing what would be considered pretty standard fare. There are no real bonuses or promotions which is definitely lacking. In addition, there are scant details provided for the two accounts.

In addition, blatantly missing is a FAQ section which is always useful for both new and experienced traders who need answers to an assortment of questions and concerns.  Deposit and withdrawal information is also not readily available and when doing this review, I had to look to other sources to find the acceptable means for funding an account. A financial glossary would also be appreciated. 

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Features

The best feature at TeleTrade.eu is their choice of trading platform. The MetaTrader 4 is certainly one of the most popular platforms around today and it’s good to see that forward looking brokers are beginning to offer the MetaTrader 5 platform as well. Teletrade offers the MT4 and MT5 in all possible versions so Teletrade account holders can access their accounts and place trades from wherever they are and from whatever mobile device they are using.

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Platforms

MetaTrader 4 and MetaTrader 5

TeleTrade clients can trade using the popular MetaTrader 4 platform in a number of different versions: MetaTrader 4, MetaTrader 4 MultiTerminal or MetaTrader 5. Downloading the relevant file is standard procedure and it does not require any specialized knowledge. A web version is also available.

TeleTrade MetaTrader 4 Platform

These innovative and easy-to-use platforms enable traders to perform complete technical analysis, predict market movements and conduct trading transactions with utmost efficiency.

Both the MetaTrader 4 and 5 is free of charge for all TeleTrade customers.

TeleTrade MetaTrader 5 Platform

Mobile

Mobile versions of the MT4 platform are available for iPad, iPod touch and iPhone. All the versions allow traders to trade on real and demo accounts,  view quotes of financial instruments in real time,  use the market and pending orders, trade directly from the charts and view their full trading history.

TeleTrade Mobile Platform

The Mac OIS version of MT4 runs with the help of Wine, a free software that allows users of systems like Unix to run applications developed for use on Microsoft Windows including one for Mac OS.

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User Reviews

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