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Updated: Dec 11, 2019
2.206 · 20 REVIEWS
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December 2016-August 2017:  Large numbers of fake and highly suspicious reviews submitted for TeleTrade.

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TeleTrade is a forex broker. TeleTrade,offers the MT4, MT5 and Web Trader forex trading top platform. offers over 55 forex currency pairs, gold, silver, cfds, indexes, energies, stocks, ETF, bitcoin and other cryptocurrencies, for your personal investment and trading options.

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2.206 · 20 REVIEWS
Forex Peace Army

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Consumer Reviews

Leomid G.,
Pskov, Russian Federation,
Dec 6, 2019,

The choice of professional traders

Service use: Live

Length of use: over 1 Year

I'm an old trader and have tried quite a few brokerages before finally stuck to TeleTrade. My experience is over 10 years of forex trading and another year I've wasted on binaries looong time ago. To tell the truth it was much easier to learn the technical analysis, than find a decent brokerage. I hope this review will help other traders skip some unnecessary steps and save a few deposits. Spreads and commissions that most traders pay so much attention to are not that important in real life. They would have been if all brokerages were doing their business honestly. Unfortunately most of them don't. In 2015 I finally came to realization that either I have to get used to wider spreads with regulated brokerages, or get ready to hire a full-time lawyer to sue those cheap brokerages that only allow withdrawing your deposit and profits once you send them a subpoena. Yeah, I've had such an experience a few times. Teletrade has got all the necessary licenses and is regulated by CySEC, which I think is the most reliable European regulator. I received the other important insight a year ago when I got seriously ill. Before that I thought that my professionalism in trading will always be the best source of an income for me and my family. In fact it was for a long while. However this illness made me turn to investment opportunities that teleTrade offered. It was really hard for me to let the broker copy somebody else's trades on my personal account. Fortunately I could choose myself which accounts to follow. I was not choosing the top ones from the rank, but chose among equities that totally corresponded my view on appropriate drawdown levels and reasonable profitability. When I got better I started trading on my personal account again, but now I can relax a bit, cause I still diversify my trades with TeleTrade's copy trading solution. Great brokerage with some excellent features and timely withdrawals. Totally recommend!
Santos, Portugal,
Jul 1, 2019,

TeleTrade is without a doubt the best broker in Europe

Service use: Live

Length of use: 6-12 Months

The high qualification of the company’s personnel and high level of service makes it an incredible experience. I am very grateful to all the experts.
Miranda, Portugal,
Jul 1, 2019,

Best broker

Service use: Live

Length of use: 3-6 Months

TeleTrade is the best broker to trade fx. Best order processing. Profit recovery easily. Excellent customer support. I highly recommend Teletrade !! !
Jun 12, 2019,
Registered user


Service use: Live

Recently, I have been investing more in different projects, as there is not enough time for trading. In teletrade connected to the trader, chose with risk 1, its ok for me
Nairobi, Kenya,
Apr 2, 2018,
Registered user

Resolve of case and Apology to Teletrade

As I had raised an issue earlier with teletrade-dj. I feel I have to come back to this forum and say that I was the one who did not understand how to use Metatrader, and that I caused all the financial loss I experienced on my own . Teletrade-dj is so kind that mr Fortune Oriaware has explained in detail how to use Mt4. Now I will trade with mire caution.Am sorry for the negative comment about Teletrade , I would prefer to delete it, but it is not possible due to the policy of Forex peace army. .Regard. Njeri
Serbia and Montenegro,
Jan 18, 2018,
Registered user

I've been their client since July and I'm not satisfied . I share my personal experiences.

When I started working with them, I realized that my biggest problem in Forex are not news, trends, price movement, but their spread . I quickly realized that this broker will close my account in SL very quickly but when the price reaches the TP it will not close it with profits but will let it come to the next SL. . Very large and unpleasant spread .

I completed my education on Forex trading with their representative in Belgrade, Serbia At the end of our studies, we are presented with a "master invest" program that offers "experienced traders trading for us". In order to enter the "master invest" program, it is necessary to have 2,000 "money units" ( EUR or USD ) in the account and then you can choose the "experienced traider" who will work for us. When I entered this program I had the feeling that I was in the "black hole" ?!

Soon I discovered that a large number of "master traders" on their list uses very risky strategies, many of them do not set up SL and the what is worst great number of them appear at the top of the list and after a couple of weeks make a loss and completely disappear from their list . I came quickly in a situation where I do not know whether to get out of the program or to try to recover the invested funds ? Now I know that it was better for me to get out .

When problems already started I found out that the only condition for a "master trader" is that he has 2,000 "money units" in his account and that literally anyone who fulfills it can become a "master trader" ? !! I was shocked by the knowledge that such a serious broker (what they say they are) puts the resources of its clients at disposal to anyone who registers in the "master trader" program ?! And how their profit is calculated is just another story.

It is also true that there is some "investor protection" mechanism, but it feels like it can only work if the trader has great many open positions and if I have a high commission . And the question is how many of them are currently on their list ?!

As I wrote, I present my personal experiences and I would love to have someone who has a different experience with a this broker.

At present, there is a very large economic crisis in my country of Serbia Many people are looking for a job that is not related to our country so there are many of them (including myself) who are studying and preparing for the Forex trading. I would just warn you to ask first questions and do not go into the investment until everything is clear to you.. Inquire what is "spread" and "ask and bid" prices and how it affects your work and be very careful with the "master invest" program otherwise you will end up like me .
May 11, 2017,
Registered user

I have account at Teletrade and until now everything works fine with withdraws and requests
Mar 21, 2017,
Registered user

Funds withheld

Traded with them since Dec2016. However, when trying to withdraw funds using bank transfer since 17Feb2017, the withdrawal request page kept asking for bank details to be filled with Latin characters when the site is in English. Informed them of the issue with screenshots and multiple emails reply from them telling me to remove any punctuations, till now ain't solved.

Tried using another option of transfer via Skrill, no news from them for 2 weeks. It's either they are trying to steal money or technically they are c***. Traders beware!
Prague, Czech Republic,
Mar 9, 2017,
Registered user

Best broker for me

I have two acc in TT. First one is synch (2years) and second i trade myslelf.ˇ(05 years)
At synchr i have 40% profit p.a. and at self trade just 10% right now
Bucharest, Romania,
Mar 6, 2017,

Good broker with high spreads

I have 5 years of trading with and i never had any problems with the trading platform or withdrawal. I really had a very good experience on 15 Jan 2015 when i was able to close a big profit on USD/CHF despite the historical rally on CHF. Many other brokers closed trading on CHF pairs on that day. Maybe there is a difference between and Anyway, i gave him 4 stars just because the spreads are a liitle bit higher then average.
Mississauga, Canada,
Jan 18, 2017,
Registered user

Very shady operation, they quote their T&Cs and ignore emails and withdrawal requests once you make a profit.

Teletrade blocked my account and currently are not processing my withdrawal requests nor are willing to reply to my emails at this point. I have close to USD 30000 in my account with Teletrade.

I have made about 100% in 3.5 months of trading. So far I have submitted two witdrawal requests one for $2500 in November and one for $1000 in December. Those requests just show as submitted, never processed nor acknowledged. My account was first suspended at the end of December.

Now they are asking me to appear in person in their office to 'legitimize myself' however I can't appear in person as they have no offices in Canada. If they had an office here I'll come right away, they also informed me that they will review my profits and possibly cancel them as they are in violation of their terms(again most of the profits were made in October and I don't accept cancelling profits that far back, regulators actually forbid cancelling trades after such a long period of time has passed, generally 24 - 48 hours is the accepted period to cancel any faulty trades.).

Very dodgy broker...SCAM... not replying to my emails, and never once have they assigned any specific person to my case who I can reach, they never sign their emails with a name but a generic signature which makes this whole company look very shady. The person I spoke to in their office informed me that he is just sales and I should contact the Cyprus office for more information.
Argentina, Argentina,
Jan 12, 2017,

Teletrade illegaly blocking my account (update)

Update regarding my case. I received this today:

Dear Client,

Please be informed that transactions patterns of your account(s) have been found to display consistent
characteristics of abusive trading activities prohibited by the TeleTrade Terms & Conditions, specifically,
evident indications of repeated use of trading techniques based on arbitrage not linked to market
inefficiencies as stated in par. 22.3 of the TeleTrade Client Agreement.

As abusive trading activities that aim at exploiting errors in prices and/or concluding trades at off-market
prices and/or by taking advantage of internet delays and/or by generating transactions targeting tick
fluctuations etc constitute an unacceptable practice that TeleTrade has zero tolerance for, we respectfully
notify you that we will have to discontinue providing to you any of our Services, suspend your account(s)
pursuant to par. 5.10, 20.1(g), 22.2 of the TeleTrade Client Agreement, and refund you the amounts of
money that have been deposited into your trading accounts.

In order to proceed with the above, in the view of the enhanced AML Due Diligence requirements under the
circumstances, we would have to kindly ask you to:

 Visit our office closest to your location for face-to-face verification of your identity;
 In case the closest TeleTrade office is at a considerable distance from you, which makes the above
impractical, mail to us a certified apostilled copy of your ID document, and the original document
serving as proof of your residence (such as recent utility bill);
 Furnish us with your bank account detail for us to be able to issue the refunds.

Please note that we will only remit the funds into the name of the trading account(s) holder. Please also note
that, absent face-to-face verification of identity or submission of required documents, we may be required to
escalate the case of possible identity misappropriation and report it to competent authorities.

Furthermore, any residual balances in your account(s) attributed to profits and losses from your trading
activities will be investigated within the authorities granted to TeleTrade by par. 8.11 and 22.3 of the Client
Agreement prior to making them available for withdrawal. We will inform you of the results of such
investigations in due order.

TeleTrade reserves all legal rights arising out of the Client Agreement, Operative Agreement and any
applicable laws and regulations in relation to any matter regarding your Trading Account(s) and activity.

Yours Sincerely,

Teletrade-DJ International Consulting Ltd

I made money on the account and that seems to be the only reason for them to block my funds. I place the same trades on many brokers and Teletrade is the only one accusing me of illegal trading. They are not detailing what trades are invalid, and they probably can't as they are lying, instead they want to steal my balance without further explanations.

I will request FPA's intervention in this case please.

Jan 11, 2017 - 1 Star This story started on Dec 28, 2016 when Teletrade decided to disable my account saying they will investigate my account's activity looking for possible violation of the trading terms and conditions. I've been requesting updates about the situation without luck, now they finally answered. It looks like they didn't find anything wrong with the account and they are asking me to travel all over the world to a Teletrade office (13 hours flight to the closest one plus 4 hours on the road) to "perform an additional identity verification to ensure the safety of your trading". That's nonsense!

This is clearly an attempt to block my fund illegally and I won't allow that.

Verification? Ask me for documents, for a phone call, skype call, ask me to notarize the copy of my documents, ask me to send original utility bills.... they can do many things to validate my account. They can't however force me to visit an office, this is 2017 and everyone knows how an online broker works these days.

I will provide frequent updates about this case. Maybe I'm misunderstanding the situation and they will release my funds soon, if that's the case I will let everyone know too. So far this seems to be related to have made money on the account.
Lucio Raul,
mexico, Mexico,
Dec 23, 2016,

Teletrade Mexico

I am from Mexico and until now I have never had problems in anything, I have always been able to carry out my capital withdrawal, regarding the regulations I can see them directly from the Cysec and the Mifid, I also deposit 3000 USD and so far I have done well , You may need to adjust your trading strategy
Samara, Russian Federation,
Dec 17, 2016,
Registered user

bad market maker and casino with bad rules

Hello! Has somebody ever seen the original CySec license of Teletrade D.J.Ltd? I have not. I let the Teletrade managers show me this license in Russian office many times, but I received the link with information about the lisence only! Nothing else! I am a Russian visitor of free FOREX trainings, caused by Teletrade Group. In 2015 I put about 3000 USD into my account + I got 500 USD as bonus. In demo-accaunt I made very good results. But if I started to trade with real money, I lost all it on EURUSD pair in 5 minutes, before I could see and understand, what direction the market price goes. I tried to investigate the similar cases with Teletrade in national forums and I found a lot of victims, having lost from 2000 up to 15000 USD in similar strange situations. I contacted other victims, and I know, that Teletrade D.J. doesn't have any real broker licenses and ALL INVESTED MONEY NEVER LEFT TELETRADE ACCAUNT. All Russian investor's money placed in Baltic and Armenian banks never took part in any deals with currency! The people lost money in play of bad casino, called Teletrade D.J., whose jurisdiction is on St.Vincent and the Grenadines (Caribean islands). The suffered investors cannot receive money in legal way! Stay away from this scam FOREX imitator!
Ancient Trader,
Europe, Lithuania,
Oct 23, 2016,

Not broker but sect

Installed their platform and got invitation for "individul consultation". Felt like recruiting into religious sect. I said to their representative that trade 1.00 lot is absurdly risky for me. The answer was astonishing: "only such risk could compel you to think. You will not have incentives to risk trading in small lots". The annoying calls from him disturbed me half a year after this.
Riga, Latvia,
Sep 9, 2016,
Registered user

Be very careful.

I'm not providing rating, because I have not deposited any real money with this company, but I took their free forex trading courses and I won a 3000$ free bonus in their "Millionaire School" competition. In their free courses they never mention anything about risk manegement/money manegement. I didn't like their agressive marketing strategy to push me to deposit real money(minimum deposit 2000$ and minimum contract is 1 LOT!!!). Their trading platform performance was very weak - constant reqoutes and platform freezes on the currency pair you have open positions, at the same time, currency pairs on which you don't have any open positions has no freezes). Their trading conditions are very customer unfriendly, because you can't close position if the price is in 10 pips range before T/P or S/L levels. Pay attention that their offices in Russia has been closed due to illegal activities by scamming people. And don't even think about investing in their "Master Invest" programm, I was witness to a conversation between a client and Teletrade manager, where client lost all of his investment by copying trades of "Master trader" who was specilaly promoted by Teletrade. Not to mention after this "Master traders" account statistics were unavalible...
Ahmed Albarbari,
Kuwait, Kuwait,
May 5, 2016,

This is a scam broker. Very bad execution. Withdrawal takes along time. Partner in Kuwait canceled them. Spread is very high. Be careful, you will not get your money back from this scam broker
Ahad Murtaza,
, Pakistan,
Oct 28, 2015,

Teletrade is scam broker.
I make about 7000$ dollar profit .but when i withdraw my funds they disable my account and ask for apostille document (residence and identifty proof). I tell them that Pakistan is not the member for APostille country. can I send you Notary certified documents..but they not reply me .so I send them Notary certified documents ID and residence proof.but they rejected it. and say send your documents attested by Foreign Affairs of Pakistan and Cyprus Consulate .then I also go to Islambad verify my documents from Ministry of Foreign Affair of Pakistan and Cyprus Consulate. almost one week procedure.then I send these documents to at their office address.after many emails they reply me

Dear Customer,

We would still need to receive properly certified IDs/passports and proof of residence. The only options we can suggest is to either complete the legalization process in the neighboring countries with the assistance of the Embassies of Pakistan there or to visit one of our Companies representative Offices with the original documentation.

It is still necessary to provide the contact details of the Notary Public, whose services were used, as instances when there are doubts on the validity of certification need to be reported.

This is reply I get from Teletrade..they are not giving my withdraw and making excuses every time .I already send documents which is fully attested and accepted in every country..but they are not accepting and not giving my 7 days gone they are not reply me at email and chat and not answering the call.they are scam and will not give withdraw If you earn.. Beware from Teletrade group of companies. I am going to Case against them.
Ljubljana, Slovenia,
Jan 19, 2015,

After over a week mailing, posting in support, requesting call backs there is 0 responce from them to make a withdrawal. They simply changed my password for WD and now am unable to WD my remained funds.

Execution is BAD and will fill you at worse possible price.
Kovacs Gabor,
Budapest, Hungary,
Mar 5, 2014,


This Broker is one of the worst . Market Maker... They do not take the orders to the real Market. Big Spreads, Manipulated price, and what was amazing, 47 seconds my order has not been executed... BE AWARE ! Cheater Company
Budapest, Hungary,
Nov 27, 2012,

Requotes.......slippage 10-15 maker with 4-5 pip spread on eurusd
Jun 3, 2011,

I attend their beginners seminar in Istanbul, Turkey. I realy found it useful. They explain forex market which is not well known in Turkey. So I continue taking courses one by one and I can say that I learned forex market with them. They give mediate and anvance courses on technics (Ichimoku, Elliott etc.) The only negative thing I may mention about them is their spreads. It must be more tight.

I guess the beginners can choose for taking courses.
Riga, Latvia,
May 24, 2010,

I was treading real accont 1 year with teletrade and this is my experience. This is MM broker. Befor spreads was very big 5 pips on every pair. Spreads now (EUR/USD 3pips, GBP/USD 4pips, NZD,AUD,CAD/USD 4pips).
This broker hunt stop/losse levels. Manipulated with the price especially when News is published( i hawe pictures where You can see it), and there working intruding people who calling me and trying get me back to Teletrade. Now im work with a different broker, much better then Teletrade.
Berlin, Germany,
Apr 16, 2010,

Teletrade in Germany are actually the ones who led me the way to Forex trading. By searching in the internet for seminars on trading I found their (german) website where they offer free introduction seminars in trading. So I just went there (Berlin office) and listened together with two or three other newbies to a Teletrade staff member who told us the basics of the Forex market, fundamental and technical analysis etc.
This were 5 evenings with 2 hours each, totally free of charge - which really was great! The staff guy was very friendly, could explain everything very well and answered all questions.
I became more curious and booked a personal training. This took 20 hours (5 days, each 4 hours), and the staff member teached me basic technical indicators, I practiced to draw trend lines and was told basic trading strategies (based on Moving Averages and candlesticks) - all on their MT4 platform (demo account). I think I paid about 100 € for that which is nothing!
After all I decided to trade via a different broker, but only because Teletrade has very high spreads (EUR/USD 5 pips) which is really just not competitive. But this is the only (and important) negative point I can mention.
Definitively I can recommend their introduction/training in Berlin for newbies!