About company

TeleTrade offers ECN and NDD accounts for forex and CFD trading. This broker evaluation includes the minimum deposit and registration criteria, as well as other services such as economic calendars, news, and bonuses. The Cyprus Securities and Exchange Commission regulates the business, which was created in 1994 and is an EU licensed CFD and FX broker (CySEC). It has received several international accolades and amassed a sizable consumer base over the years.

Trading Platforms

The MetaTrader 4 and MetaTrader 5 platforms are available from the company and may be downloaded or viewed directly from a web browser. MetaTrader is a multi-asset trading platform that is ideal for a variety of investment types and experience levels.

MT5, which includes a greater choice of technical indicators as well as additional sophisticated features like Depth of Market, an economic calendar, and a built-in community chat, may be preferred by experienced traders.

For investors or traders who want to manage numerous accounts from a Mac or Windows computer, the MT4 MultiTerminal desktop program is also available.

Markets

Traders can access over 60 major, minor and exotic currency pairs, as well as 19 crypto coins. A wide range of CFDs is also available, including agricultural commodities, precious metals, and energies, as well as dozens of global indices and stocks.

Price list

The broker offers tight ECN spreads on the MT5 account starting from 0.2 pips for EUR/USD. However, on a standard MT4 account, spreads are around 1.6 pips for the same pair.

Commission-free trading is available on a standard MT4 account, but the commission is 0.007% and 0.008% on NDD and ECN accounts respectively.

Other fees include a swap fee on overnight positions and a €50 fee for inactive accounts that have not been used for 3 months.

Leverage

The maximum leverage of 1:500 is available for professional clients. Otherwise, leverage limits for retail clients range from 1:2 to 1:30 depending on the asset being traded. Margin requirements are listed on the website.

Mobile applications

The firm offers it’s Analytics mobile app which provides detailed market analysis, economic calendar, news, videos, and more. The application can be installed from the App Store or Google Play.

MT5 for mobile is also available for iPhone and Android users, offering real-time quotes on both live and demo accounts. Users can trade directly from interactive charts and view full trading history. There is also a good set of custom indicators and advanced order types.

Payment Methods

Deposits

Top-ups in EUR or USD are available via wire transfer, credit/debit cards and e-wallets including Skrill, Neteller and Fasapay. Most methods are processed within minutes, with the exception of bank transfer, which can take 2-3 business days. Some fees also apply:

• Neteller – 3.9% + $0.29 transaction fee (min. $1)
• Bank transfer – in accordance with the bank commission
• Fasapay – 0.5% (max $5)
• Visa / Mastercard – 3.5%
• Skrill – 2.9%

Withdrawals

All withdrawal methods usually take 1-2 business days. The following fees apply:

• Wire transfer without SEPA – 0.1% (minimum 55 USD – maximum 200 USD) + intermediary bank fee
• SEPA EUR bank transfer – 1 € + bank fee
• Visa/Mastercard – 2.35% + EUR 1/USD 1.30
• Fasapay – 0.5%
• Neteller – 2%
• Skrill – 1%

After logging in, go to your personal account page to make deposits and withdrawals.

Demo Account

A demo account with a default virtual balance of $50,000 gives you access to live trade on over 200 instruments. Demo accounts allow new traders to familiarize themselves with the features of the platform and test trading strategies in a simulated environment.

Unfortunately, demo accounts are archived after 14 days, which is a little disappointing considering most other brokers offer a minimum 30-day trial period.

Additional features

Additional educational resources include free forex webinars from investment experts, tutorials for beginners, and daily market video briefings. A helpful interactive chart and economic calendar also let you keep track of current prices and world news. Some useful forex calculators are also available, including margin and pips calculators.

The firm also offers its own copy trading platform, TeleTrade Invest, which allows investors to copy the positions of experienced traders.

Accounts

There are 3 account types that define access to the MetaTrader platforms: Standard (MT4), NDD (MT4), and Real ECN (MT5). All accounts require a minimum deposit of USD/EUR 100 and a minimum contract size of 0.01 lots. Hedging is also allowed on all three accounts.

Standard MT4 offers the highest spreads starting at 1.1 pips with no commission (except 0.1% on US stock CFDs). The other two commission accounts offer tighter spreads.