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The WikiFX Score of this broker is reduced because of too many complaints!


Cyprus|10-15 years|
Regulated in Cyprus|Market Making(MM)|MT4/5 full license|Regional Brokers|Belarus Retail Forex License Revoked|High potential risk|


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MT4/5 Identification


Full License





Influence index NO.1

Romania 6.35
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

Full License

Server Name
TeleTRADECY-NoDealingDesk MT4
Server Location Cyprus




Influence index NO.1

Romania 6.35

Surpassed 45.86% brokers

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+357 22314160
88 Archiepiskopou Markariou III, 1077 Nicosia-Cyprus


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+357 22314160

Broker Information


Company Name

Teletrade-DJ International Consulting Ltd

Company Abbreviation


Platform registered country and region


Company website

Pyramid scheme complaint


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WikiFX Risk Alerts 2
Previous Detection : 2023-11-28
  • The number of the complaints received by WikiFX have reached 15 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • BelarusNBRB (license number: Unreleased) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

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    TeleTrade · Company Summary

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

    General Information

    TeleTrade Review Summary in 10 Points
    Founded 1994
    Registered Country/Region Cyprus
    Regulation CYSEC
    Market Instruments Forex, CFDs on metals, indices, energy, shares, cryptocurrencies and commodities
    Demo Account Available
    Leverage 1:500
    EUR/ USD Spreads 0.2 pips
    Trading Platforms MT4, MT5
    Minimum Deposit $100
    Customer Support Phone, email, social media

    What is TeleTrade?

    Teletrade (EU) is an award-winning EU-authorized and regulated retail broker, part of the Teletrade Group, which was founded in 1994. The company operates in the European market under the EU Markets in Financial Instruments Directive (MiFID) and is licensed by the Cyprus Securities. TeleTrade is regulated by Cyprus Securities and Exchange Commission (CySEC).

    When it comes to account types, TeleTrade offers a range of options to suit the needs of different traders. Additionally, it offers a demo account option for traders who want to test their trading strategies before opening a live account. TeleTrade customers have access to a wide range of financial markets. The company also provides a range of tools, and analysis to help traders make informed decisions.

    TeleTrade's home page

    In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

    Pros & Cons

    Pros Cons
    • Range of account types and trading products available
    • Limited support for cryptocurrencies
    • Analysis tools provided
    • Limited customer support availability outside of office hours
    • Demo account option for testing strategies
    • Possible delays in withdrawal processing during peak times
    • Strong commitment to customer support
    • Not live chat provided

    TeleTrade Alternative Brokers

    There are many alternative brokers to TeleTrade depending on the specific needs and preferences of the trader. Some popular options include:

    • OctaFX - A leading online trading broker with a user-friendly platform and low trading costs, making it ideal for beginner traders.

    • Tickmill- A reliable and reputable trading broker with competitive spreads and a wide range of trading instruments, making it a good choice for experienced traders.

    • Axi – A well-regulated and respected trading broker with a range of advanced trading tools, making it an excellent choice for professional traders seeking advanced trading capabilities.

    Is TeleTrade Safe or Scam?

    TeleTrade is regulated by Cyprus Securities and Exchange Commission (CYSEC, No. 158/11). Based on the information available, TeleTrade appears to be a reliable and trustworthy broker. It is regulated by reputable authority, has been in operation for several years, and has received positive reviews from many customers.

    However, as with any investment, there is always some level of risk involved, and it is important for traders to do their own research and carefully consider their options before investing.

    CYSEC license

    Market Instruments

    TeleTrade offers a variety of trading instruments across different asset classes, including Forex, metals, indices, energy, shares, cryptocurrencies, commodities

    • Forex

    TeleTrade provides access to various major currency pairs like EUR/USD, GBP/USD, USD/JPY, and more. These currency pairs enable traders to speculate on the future price movements of currencies and potentially earn profits from their trades.

    • Metals

    Gold and silver are two of the most popular metals to trade, and TeleTrade provides access to both. Gold and silver are often used as safe-haven assets, which means that their value tends to increase during times of economic uncertainty. Traders can use this to their advantage by buying these metals when the market is volatile and selling them when the market stabilizes.

    • Indices

    An index is a group of stocks that represent a particular market or sector. TeleTrade provides access to a variety of popular indices like the S&P 500, Dow Jones Industrial Average, and more. These indices allow investors to trade a basket of stocks, providing them with greater diversification and potentially lower risk.

    • Energy

    The energy market has the potential to be highly volatile, making it an attractive trading instrument for risk-tolerant investors. Additionally, TeleTrade offers shares trading on major stock markets such as the New York Stock Exchange and Nasdaq.

    • Cryptocurrencies

    Cryptocurrencies like Bitcoin, Ethereum, and Litecoin have gained popularity in recent years and provide traders with yet another way to invest their money. Cryptocurrencies are relatively new and highly volatile, making them a higher risk investment option.

    Overall, TeleTrade offers a diverse range of trading instruments across different asset classes, giving traders a variety of options to choose from when building their portfolios.

    Market Instruments


    TeleTrade offers four live account types including Sharp ECN account, NLT account, NDD account and Standard account with the minimum deposit requirement of $100 each.

    • Sharp ECN Account

    The Sharp ECN account provides investors with access to trading on the widest range of financial instruments on platforms. It is suitable for experienced traders.

    Sharp ECN Account
    • NLT Account

    The NTL account provides investors with access to trading CFDs on leading stocks and ETFs from exchanges around the world with no leverage. Some of the most tradable shares in the world, including Apple Computer Inc. and Netflix Inc., and ETFs like the SPDR S&P 500 ETF, can become part of your CFD investment portfolio with this account.

    NLT Account
    • NDD Account

    The NDD account provides investors with access to trading on the widest range of financial instruments on the MT4 platform.

    NDD Account
    • Standard Account

    The Standard account provides investors with access to standard lots on the widest range of Forex and CFD instruments available on the MT4 platform. The Standard Account is the most suitable account type for most traders.

    Standard Account


    Maximum leverage of 1:500 is available for professional clients. Otherwise, leverage limits for retail client range between 1:2 and 1:30 depending on the asset traded. Margin requirements are provided on the website.

    Leverage is a powerful tool that allows traders to amplify their positions and potentially earn greater profits from their trades. TeleTrade offers a maximum leverage of 1:500, which means that traders can control positions that areup to 500 times their initial investment.

    The advantage of using leverage is that it allows traders to increase their exposure to the market without requiring significant capital. For example, if a trader wants to buy 100,000 units of a currency pair and the price is currently $1 per unit, they would need $100,000 to make the purchase. However, with the maximum leverage of 1:500 offered by TeleTrade, the trader could enter the same position with only $200. This provides greater flexibility in trading and allows traders with smaller account balances to participate in the market.

    However, it's important to note that leverage can also magnify losses. Traders need to be extremely careful when using leverage and it's vital to have a solid risk management strategy in place.

    Spreads & Commissions

    TeleTradeoffers the spread from 0.2 pips for all accounts. Besides, commission vary according to the different accounts.

    Sharp ECN accounts, NDD accounts and Standard accounts charge commissions while having no additional markups on spreads and rely on Market Execution. NLT account charge no commission.

    Below is a comparison table about spreads and commissions charged by different brokers:

    Broker EUR/USD Spread Commission
    TeleTrade 0.2 pips Variable
    OctaFX 0.3 pips None
    Tickmill 0.1 pips $2 per lot
    Axi 0.4 pips None

    Note: The information presented in this table may be subject to change and it is always recommended to check with the broker's official website for the latest information on spreads and commissions.

    Trading Platforms

    Teletrade offers traders the world's leading and popular MT4 and MT5 platforms available for mobile (iOS and Android), web and desktop versions.

    The MetaTrader 4 (MT4) platform is widely considered the gold standard for online trading platforms. It offers a user-friendly interface, advanced charting tools, and a wide range of technical analysis indicators.

    The MetaTrader 5 (MT5) platform is the successor to the MT4 platform and offers even more advanced trading features. This platform offers an improved interface, superior charting tools, and a larger selection of technical analysis indicators. MT5 also provides traders with access to more timeframes, enabling them to analyze market movements in more detail.

    Overall, TeleTrade's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:

    Broker Trading Platform
    TeleTrade MT4,MT5
    OctaFX MT4, MT5, cTrader
    Tickmill MT4,MT5
    Axi MT4

    Trading Tools

    TeleTrade offers market news, quotes, opinions, technical analysis, interactive chart, interest rates, economic holiday and calendar.

    - Market news: Access to the latest market developments and trends to help traders stay informed of any important news that may impact trading activity.

    Market news

    - Quotes: Real-time quotes on a variety of currency pairs and other financial instruments, providing traders with valuable market insights.


    - Opinions: Expert market opinions and analysis to help traders stay ahead of the curve and make informed trading decisions.


    - Technical analysis: A variety of technical analysis tools to help traders identify key market trends and potential trading opportunities.

    Technical analysis

    - Interactive chart: A chart that allows traders to analyze the market movements and patterns in real-time.

    Interactive chart

    - Interest rates: Access to current interest rates, which can impact the value of currencies and stocks, and may affect trading decisions.

    Interest rates

    - Economic calendar and holiday schedule: Up-to-date information on upcoming market events and holidays that can help traders make informed trading decisions and stay ahead of the competition.

    Economic calendar

    In summary, TeleTrade provides a range of tools and resources to help traders navigate the forex market effectively.

    Deposits & Withdrawals

    The company welcomes several convenient and withdrawal methods, mainly wire transfer (for EUR, USD), VISA/MASTERCARD credit or debit card (for EUR, USD, 3.5% commission for deposit and 2.35% + 1 EUR/$1.30 commission for withdrawal), NETELLER (for EUR, USD, 3.9% commission for deposit + 0.29 USD and 1 EUR/$1.30 commission for withdrawal), and NETELLER (for EUR, USD, 3.9% commission for deposit and 1.29 USD commission for withdrawal). + $0.29 commission, withdrawal charges 2% fee), Skrill (supports EUR, USD, deposit charges 2.9% commission, withdrawal charges 1% commission), fasapay (supports USD, deposit charges 0.5% fee, up to $5, withdrawal charges 0.5% fee).

    Deposits & Withdrawals

    TeleTrade's minimum deposit vs other brokers

    TeleTrade Most other
    Minimum Deposit $100 $100

    User Exposure on WikiFX

    On our website, you can see that reports of unable to withdraw, scams and severe slippage. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

    User Exposure on WikiFX

    Customer Service

    Live chat service is considered as the best way to reach customer support ; the chat logo at the top of the website will take you through to the online assistant service, which is fast and helpful. Alternatively, you can contact the broker via their email or telephone number. There are also additional EU support offices located in Portugal, Hungary, Italy, and Poland.

    Customers can visit their office or get in touch with customer service line using the information provided below:

    Telephone: (+357) 22314160


    Address: 88 Archiepiskopou Makariou III, 1077 Nicosia-Cyprus (office hour: Monday - Friday: 9:00 - 18:00)

    Moreover, clients could get in touch with this broker through the social media, such as Twitter, Facebook, Instagram, YouTube and Linkedin.






    Overall,TeleTrades customer service is considered reliable and responsive, with various options available for traders to seek assistance.

    Customer Service

    Pros and cons of customer service of TeleTrade:

    Pros Cons
    • Reliability and responsiveness
    • Limited office hours, may not be available on weekends
    • Multiple ways to contact (phone, email, social media)
    • Positive customer reviews


    Overall, TeleTrade is a well-regulated financial services company that offers a broad range of trading products, educational resources, and customer support options. The company provides a variety of account types to suit different trader needs and operates under the regulatory oversight of major financial institutions in multiple jurisdictions, providing an additional level of safety and security for traders.

    TeleTrade's trading tools are resourceful, making it a good option for traders looking to improve their skills and knowledge. The company's customer support is also generally regarded as reliable and responsive, with multiple channels available for traders to seek assistance.

    In conclusion, TeleTrade is a reputable financial services company that is well-regulated and provides a strong range of trading products, education, and customer support options.

    Frequently Asked Questions (FAQs)

    Q 1: Is TeleTrade regulated?
    A 1: Yes. It is regulated by CYSEC.
    Q 2: Can I open a demo account with TeleTrade?
    A 2: Yes.
    Q 3: Does TeleTrade offer the industry leading MT4 & MT5?
    A 3: Yes. It supports MT4 and MT5.
    Q 4: What is the minimum deposit for TeleTrade?
    A 4: The minimum initial deposit to open an account is $100.
    Q 5: Is TeleTrade a good broker for beginners?
    A 5: Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 and MT5 platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money.


    US Dollar Index Price Analysis: DXY remains pressured towards 96.00

    NewsUS Dollar Index Price Analysis: DXY remains pressured towards 96.00

    2022-03-10 17:18

    US Dollar Index (DXY) remains on the back foot around 96.10, down 0.06% intraday, during early Monday.

    2022-03-10 17:18
    US Dollar Index Price Analysis: DXY remains pressured towards 96.00

    User Reviews

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    more than one year
    TeleTrade is great broker offering superb trading conditions, and you can deposit and withdraw anytime you want, an existing client, me, a day trader from Canada…
    2023-02-23 10:06
    Chiran Bawornkitiwong
    more than one year
    What the hell this broker doing? A guy from this platform called me again and again, saying this is a hard-to-meet investment opportunity. THESE BLACK SCAMMERS HAVE NO HEARTS…
    2023-02-16 10:34
    more than one year
    This company is a complete scam, they do everything to get you to deposit money first and then they manipulate your transaction process. If you make a profit during the transaction, they will obstruct you in every possible way when withdrawing money!
    2022-11-25 09:36
    more than one year
    I've never encountered such serious slippage..UNBELIEVABLE!! I lost almost all of my investment capital...yes.I know forex trading will bring some risks, but it is too serious! I never imagine I will lose so much money. TeleTrade is a lesson for me and I will never com back!
    2022-11-22 13:57
    more than one year
    Hmmm… spreads on its platform is not what they advertised, super high slippage… When you made a profit, they won’t let you to withdraw your profit… Never use this platform, or your money never back into your pocket…
    2022-11-22 10:26
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