TeleTrade Account Types

TeleTrade offers 3 live trading accounts, a Standard account, NDD account, and Sharp ECN account. TeleTrade also offers a Demo account where traders can learn the basics of Forex trading and an Islamic Swap-Free account.

TeleTrade At a Glance

Overall Rating

• 3.5/5

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OPEN AN ACCOUNT

Min Deposit

USD 100

Regulators

CySEC

Trading Platform

MT4, MT5

Crypto

Yes

Total Pairs

60+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Choose your quick section of our TeleTrade below.

TeleTrade Account Types – 10 key point quick overview:

1. TeleTrade At a Glance
2. TeleTrade Overview
3. TeleTrade Account Types
4. TeleTrade Account Features
5. TeleTrade Demo Account
6. TeleTrade Islamic Account
7. TeleTrade Customer Reviews
8. TeleTrade Pros and Cons
9. TeleTrade Conclusion
10. Frequently Asked Questions

TeleTrade Overview

TeleTrade is a forex broker that was established in 2008 and has headquarters in Cyprus. The broker is part of the TeleTrade Group of companies, a much larger organization, but as its independent entity, oversees TeleTrade’s European operations.

TeleTrade EU is a multi-award-winning, EU-licensed, and regulated Cyprus Investment Firm with many years of successful market presence. The broker offers high-quality services, innovative technology, fast and reliable platforms, and a high level of support.

The broker operates in the European market following the Markets in Financial Instruments Directive (MiFID) and is licensed by the Cyprus Securities and Exchange Commission (CySEC).

Through these strict regulations, the broker must keep client funds in separate accounts that can only be utilized by the client and not by the broker.

TeleTrade offers forex trading, spread betting, social trading, and share dealing trading. It has more than 80 offices located in more than 30 countries around the world.

Clients can trade in Forex, metals, indexes, energies, stocks, crypto, and commodities on the globally popular and preferred MetaTrader 4 or MetaTrader 5 through a choice of devices.

In addition to offering consultancy services to companies and investors, TeleTrade also has years of experience with banking elites, offering training to traders and financial analysts in cooperation with universities and financial institutions in many countries.

TeleTrade’s overall pricing is not that competitive although The Group does have one of the largest existences in the financial markets, with its Forex trading section situated significantly in Europe and the Middle East.

Customers from the United States are not accepted as clients at TeleTrade.

TeleTrade Account Types

TeleTrade offers trading in three live account types, namely a Sharp ECN Account, NDD Account and a Standard Account. It also offers its clients that follow the Muslim faith the option to open an Islamic Account.

Traders will find that through these accounts, TeleTrade offers competitive trading conditions along with comprehensive solutions and services.

TeleTrade Account Features

With each of the live account types, traders can expect the following features:

Sharp ECN Account

• Minimum deposit – $ 100
• Spreads – variable spreads starting from 0.2 pips
• Leverage – from 1: 2 to 1: 500
• Trading on over 100 instruments
• Low-level slippage

NDD Account

• Minimum deposit – 100
• Spreads – variable spreads starting from 0.8 pips
• Leverage – from 1: 2 to 1: 500
• Trading in over 200 instruments

Standard Account

• Minimum deposit – $ 100
• Spreads – variable spreads starting from 1.1 pips
• Leverage – from 1: 2 to 1:500
• Trading in over 200 instruments

Islamic Account

TeleTrade offers Muslim traders who follow Sharia law the option of an Islamic Account. It is not clear if this account is an option where traders can convert their live trading account to an Islamic Account, or if it is a standalone account.

The Islamic Account has the following features:

• Minimum deposit – $ 100
• Floating spreads depending on the financial instrument
• Direct execution of trades through the STP model
• Zero-interest charged on contracts that are held for longer than 24-hours
• Zero additional rollover commissions when contracts are held for longer than 24-hours
• Access to Expert Advisors (EAs)

TeleTrade Demo Account

TeleTrade offers traders the option of opening a Demo Account which can be utilized in many ways, including, but not limited to the following:

• It is mainly a practice account for beginner traders who wish to improve their trading skills and experience in a risk-free environment using virtual funds.
• More experienced traders who want to evaluate and compare brokers who would like to explore TeleTrade’ trading conditions in a risk-free environment.
• More advanced traders who wish to test their trading strategies in a mimicked live trading environment without risking their capital.

TeleTrade’ demo account sign-up is fully digitalized and hassle-free. It is a free account to open and can be used for an unlimited period.

To sign up only takes a few minutes and as soon as the trader is registered, demo trading can commence. The only thing left to do is to download and install the trading platform of choice, which will be either MetaTrader 4 or MetaTrader 5 or by using the web browser.

TeleTrade Islamic Account

The purpose of an Islamic Account is that it caters to Muslim traders who follow Sharia law, which is a law that prevents its followers from paying any type of interest, such as overnight fees. These fees are seen as wasteful or exploitative.

Overnight fees are usually charged should traders hold positions open for longer after the trading day has concluded. With the Islamic Account traders are exempted from such fees or interest, should they hold positions open for longer.

With TeleTrade, clients that want to open an Islamic Account should take note that most of the features indicated on the Islamic account are the same as the normal live account such as minimum deposit, spreads, and more.

More information on the opening of an Islamic account and its features can be obtained from customer services.

Traders who are interested in registering for an Islamic account must contact TeleTrade’s customer support to verify the details of the account as conditions may have changed from the time of writing.

These changes are as per the broker’s discretion and/or changes in market conditions.

TeleTrade  Customer Reviews

TeleTrade offers many trading assets.

I have never been interested in finance or, to put it correctly, working in this area. I loved money though! and my love grew along with my growing needs of mine. Then I realized that I needed to change something. I wanted my own business, but there were circumstances that got in the way. I decided to try forex. I knew there were brokers with small minimum deposits and I had a chance to try it.
It so happened that I started to study forex on the website of the broker TeleTrade. Everything is very well done there and I decided to open a demo account there. I liked everything. I was very excited!
When I started trading real money …. honestly …. I was terribly afraid 🙁
I thought that I could not cope with emotions and could lose everything. But everything was fine. TeleTrade offers many trading assets and on a demo account I chose several currency pairs that I felt well .. and of course, I learned how to use indicators.
I want to tell all traders that technical analysis is cool!

At first I was afraid of forex.

At first I was afraid of forex. I always understood that this business could be very profitable, but for a long time, I did not dare to trade even on a demo account, because I read reviews of how people lost their money. Therefore, I thought that everything was complicated and dangerous there. That is why I am grateful to the Teletrade consultant for convincing me to just come to the courses, and then decide for myself whether Forex is right for me or not. It was three years ago. Forex came up. And everything turned out to be not scary. In Teletrade, it is exactly so. On the contrary, it was fun to study. Even in practice, although the first days did not work out very well. It’s good that the teacher was sensitive and attentive. With everyone, he analyzed all the situations, showed mistakes, and explained how to fix them, and prevent them in the future. So at the end of the course, I was ready to face forex trading.

It’s not a scam for sure

I always critically approach any broker no matter what reviews tell about it online. I just don’t want to be victimized by a scam. I know that it may happen at any time. So, I prefer to be on the safe side. I would be better overcautious than careless.
Fortunately, the broker didn’t turn out to be another scam. After two months of trading with this broker, it was obvious to me that it was a genuine company. I didn’t see any signs of a cheater here. It makes me want to continue trading with this company. Reliability is the main thing for me. I don’t care about its features. I think they are mostly similar to all brokers.

TeleTrade Pros and Cons

TeleTrade Conclusion

Overall, TeleTrade offers 3 live trading accounts, a Standard account, NDD account, and Sharp ECN account. TeleTrade also offers a Demo account where traders can learn the basics of Forex trading and an Islamic Swap-Free account.

You might also like: TeleTrade Review

You might also like: TeleTrade Demo Account

You might also like: TeleTrade Fees and Spreads

You might also like: TeleTrade Islamic Account

You might also like: TeleTrade Minimum Deposit

You might also like: TeleTrade Sign Up Bonus

Frequently Asked Questions

Which platforms are supported by TeleTrade?

Teletrade supports the MetaTrader 4 and MetaTrader 5 trading platforms.

Does TeleTrade offer leverage?

Yes. Leverage of up to 1: 500

How many instruments can I trade with TeleTrade?

You can trade the following financial instruments:

• Forex
• Metals
• Indexes
• Energies
• Stocks
• Crypto
• Commodities

What spreads can I expect with TeleTrade?

You can expect variable spreads. The Islamic account, however, features floating spreads depending on the financial instrument and several other factors.

Are there additional charges on the Islamic account?

Not that can be seen on TeleTrade’s website. Islamic accounts, however, have spreads that are floating.