TeleTrade Broker Review
TeleTrade is part of a much larger organisation, which means it can bring more than 21 years experience to the table. It is actually part of the TeleTrade Group of companies, but is its own independent entity, and is in charge of TeleTrade’s European operations. With TeleTrade Europe clients can choose to trade from more than 130 foreign currencies, commodities, CDFs on stocks and futures, ETFs and stocks. There is also the opportunity to participate in the newest form of trading with their synchronous trading option.
TeleTrade-DJ International Consulting Ltd is the name behind the broker, and it is an investment firm licensed and regulated by CySEC. There is local representation in major European cities and as such this broker is also recognised by a number of other regulatory bodies, including the FCA in the UK.
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TeleTrade Europe offers a range of Metatrader trading platforms
Downloading the software onto a computer or mobile device is relatively simple, and doesn’t require any specialist knowledge. And we’ve already discussed the virtues of the MetaTrader platform on numerous occasions, so instead we’ll look at the social trading option TeleTrade have called ‘Synchronous Trading’. To participate there is a link on their website, and once clicked on you are taken to a dedicated site. Once there you can see the trading results and statistics of a group of successful traders that TeleTrade have called ‘Master Traders’. In order to diversify your risk you can choose a number of Masters, picking the most suitable strategies and copying their trades. Any trader can become a Master simply by registering for a Master account. Additional income can be earned for all successful trades. You don’t need to make large investments, simply trade. And the more account holders who copy your trades the larger your commission.
TeleTrade offer 3 different account types as well as a demo account option
When it comes to choosing an account there are a number of features to take into consideration. To help you we’ll look at some of them now.
MT4 standard account – Features fixed spreads and a wide range of instruments including CFDs on futures and stocks. Leverage is 100:1, with the promise of instant execution and no requotes. This account uses the Metatrader 4 trading platform.
MT4 NDD account – This account also operates using the MT4 trading platform, but has narrower floating spreads starting from 0.1 pips. Leverage is also 100:1, and there is an additional 0.007% commission or $7 per volume of $100,000.
Standard MT5 account – This account operates using the MT5 trading platform, and offers fixed spreads and instant execution. Leverage is 100:1, and an exchange-type system is used for recording trades.
If you decide you’d prefer to test run, and test your knowledge and skills, as well as experience the service, TeleTrade will deposit $50,000 virtual trading account into the account for you to use.
Are there any special offers or bonuses?
Many brokers choose to attract new customers with bonuses and special offers, and currently TeleTrade have a couple of bonuses available.
24% bonus program – Sign up for this program, and provided you’re an active trader, and there have been no withdrawals, an additional 34% will be deposited into your trading account, on the 2nd of every month. The offer is open to all account holders providing you have been trading actively (at least 2 traded lots for every $1,000 in equity), and funds have stayed in your account for the whole month.
Welcome bonus program – Open an account and you’ll be given $1,000 and over as a gift, and the more you deposit the bigger your bonus. The bonus can only be withdrawn when the required amount of trading lots has been achieved. We aren’t able to tell you what these requirements are, because they aren’t provided unless a new account is opened.
Trade with the Best Trading Education Provider in Europe
And yes it’s true. In 2014, TeleTrade received this prestigious award from the International Finance Magazine. And if you’re wondering why, let’s introduce all they have to offer.
There is the option to take part in office-based education, at one of their representative offices. This option includes free seminars and masterclasses, from the very first steps needed to start trading. Obviously this isn’t going to be a viable option for a large number of you reading this review, so what else is on offer?
Individually-tailored training with a personal instructor is the other option. Classes can be scheduled according to your own time scale, and will focus on what you need to learn. There is a basic course for beginners, as well as sessions covering market analysis, forecasting, and lots more theoretical knowledge.