About TeleTrade
About TeleTrade
TeleTrade is a forex and CFD broker founded on 13 September 2017 and headquartered in Latvia. The company operates under the full legal name Top Markets Solutions Ltd. Despite its relatively recent establishment, the broker markets itself as having a long industry history, referencing activity since 1996.
The broker holds two regulatory licenses: one from the National Bank of the Republic of Belarus (NBRB) under a Forex Trading License (EP), and another from the Cyprus Securities and Exchange Commission (CYSEC) under a Market Making (MM) license (No. 158/11). These licenses enable it to offer services to traders in various jurisdictions.
Account Types and Trading Conditions
TeleTrade provides three account types: NDD, Standard, and Sharp ECN. All accounts require a minimum deposit of $/€100 and offer maximum leverage up to 1:500. The minimum spread is advertised from 0.2 pips, and no commission is mentioned for any account. The broker focuses on FX and CFD instruments, including a range of currency pairs and contracts for difference. Commissions are not disclosed in the available data.
The broker emphasizes its use of floating spreads, which can vary based on market conditions. It also offers a full-featured demo account for practice, with no time limit, catering to beginners who want to learn without financial risk.
Platforms and Features
TeleTrade provides a proprietary trading platform and mobile app that users describe as intuitive and easy to navigate. The platform features a copy trading mechanic, allowing traders to automatically replicate the strategies of experienced investors. The mobile app is designed for tracking trades and managing accounts on the go.
The broker claims fast order execution and responsive customer support. It also offers educational materials, including tutorials and webinars, to help traders improve their skills. Bonuses and promotional incentives are a key part of the offering, with rewards for deposits and trading activity.
Funding and Withdrawals
The broker does not explicitly disclose its deposit and withdrawal methods in the available data. However, some user reviews mention limited deposit options. TeleTrade allows withdrawals even when a bonus is active—the bonus expires upon withdrawal, but the capital remains accessible. Processing times for withdrawals are reported as quick by some traders, while others face delays and refusals.
There is no minimum deposit requirement, which lowers the entry barrier for retail traders. The broker also supports multiple currencies for account funding, but specific details are not available.
Target Audience
TeleTrade is aimed at a broad range of traders, from beginners to experienced. Its low minimum deposit, demo account, and educational resources attract novices, while copy trading and high leverage (up to 1:500) appeal to more active traders. The broker's bonus system and promotions are designed to retain clients and incentivize trading volume. However, the broker's risk profile, as indicated by user feedback, suggests it may be more suitable for traders who prioritize low entry costs and are willing to accept some uncertainty around withdrawals.
Overview compiled by FXCanary from regulatory records and public data. full TeleTrade review