TeleTrade.eu Review

3.428 · 62 REVIEWS
Updated: Oct 20, 2020 · Visit site  · Is this your company?

TeleTrade is a forex broker. Tele Trade offers the MT4, MT5 and Web Trader forex trading top platform. TeleTrade.eu offers over 65 forex currency pairs, gold, silver, cfds, indexes, energies, stocks, ETF, bitcoin and other cryptocurrencies, for your personal investment and trading options.

TeleTrade.eu
December 2016-August 2017:  Large numbers of fake and highly suspicious reviews submitted for TeleTrade.

Other websits of this company include TeleTrade-dj.com

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $100
Established: 1994
Address: 88 Archiepiskopou Markariou III, 1077 Nicosia, Cyprus
Contact: support@teletrade.eu, (+357) 22314160
Regional offices:
Regulators: CySEC #158/11
Prohibited countries:
Trading platforms: MT4, MT5, WebTrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (65+)
Cryptocurrencies: (20+) Bitcoin, Litecoin, Ethereum
CFD: (140+) Gold, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, FasaPay, Neteller, Skrill
Withdrawal Methods: Bank Wire, VISA, MasterCard, FasaPay, Neteller, Skrill

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3.428 · 62 REVIEWS
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Traders Reviews

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 .
  1 trader has found this review helpful
Karesz,
Budapest, Hungary,
Nov 27, 2012,
Guest

Requotes.......slippage 10-15 second......market maker with 4-5 pip spread on eurusd
 
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.
 
Ancient Trader,
Europe, Lithuania,
Oct 23, 2016,
Guest

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.
 
Sabah, Malaysia,
May 5, 2020,
Registered user

Service use: Live

Length of use: over 1 Year

They tricked me to deposit more than what i initially agreed of usd1K only leading to a total deposit USD11K with the promise to give 20% to 30% bonus but not even a single cent had been given despite the fact the all amount deposited had been fully traded including some profit made. The second account was traded by teletrade trader who was recommended by teletrade mentor as a very good trader but afetr a coup;e pf months the whole balance was wiped out despite charging a fixed commission for every profit made
 
reggio calabria, Italy,
Feb 4, 2020,
Registered user

only the client support was ok

Service use: Live

Length of use: over 1 Year

i've been trading with them for about one year and a half: positive side the client support but it is a bit expensive because it has fee on trades and fee for withdrawals...i used also the copy trading service but i was not satisfied: so i decided to close my account....
 
Matt,
Ljubljana, Slovenia,
Jan 19, 2015,
Guest

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.
 
kaspadzi,
Riga, Latvia,
May 24, 2010,
Guest

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.
 
Stepanchuk Taras,
Chortkiv, Ukraine,
May 11, 2020,
Guest

Copy-trading VS self-trading

Service use: Live

Length of use: 0-3 Months

For me, as a newcomer to financial markets, Teletrade turned out to be a very nice option.
First I planned to trade myself solely. The broker was chosen because of positive reviews and affordable starting point. I invested only $100 in the beginning and just wanted to check how everything will go.
The fact that other traders results (if they wanted) were shown in rankings, kept me highly motivated to learn to trade professionally. I watched endless masterclasses, read books on trading and psychology. In the beginning I underestimated the importance of the mindset and this lead to a negative result on the account balance. I’ve lost $50 in only 2 weeks and I couldn’t understand why. I can’t say I was guessing the direction, everything seemed to be done according to the tech analysis. The minor changes I was making to the plan didn’t seem important, but they were in fact!
I deposited another $200 and split the money in half. 50% I left for myself, and the other half was used to follow the other trader’s system through a copy-trading platform. Even though I stopped losing that much myself, I can clearly see now - the numbers are difficult to argue with - that trading requires more experience. If I invest more, I’ll be looking more in a direction of diversifying the copy trading portfolio. Glad that the broker offers this opportunity!
 
Poland,
Jun 12, 2019,
Registered user

Sync

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