TeleTrade.eu Review: Tele Trade Scam Broker?
TeleTrade.eu offers its clients a choice of 200 financial instruments for trading on the MetaTrader 4 and 5 respectively.
Tele Trade is asking a minimum deposit of $/€100 across its 3 account types.
On top of this, the broker is promising traders real ECN and NDD trading environment where they can get leverage starting 1:200 and up to 1:500.
This is a good environment for trading especially if you have a proper Forex robot or are investing in profitable Forex signals.
TeleTrade is also claim that the platform offers competitive bids and ask quotes, low slippage and variable spreads.
The only difference between account types is that some are restricted in terms of how many instruments they can trade.
TeleTrade.eu is EU-regulated as they have stated on their website that they are under CySEC.
The company that runs the affairs of this broker is known as TeleTrade-DJ International Consulting Ltd and its other website is teletrade-dj.com.
Is TeleTrade.eu legit broker?
There are many things to consider before answering this question.
The first thing we will consider is how long this broker has served the industry.
According to their marketing materials, TeleTrade has 25 years of global excellence.
We’re not able to find evidence that supports this marketing proclamation.
The domain TeleTrade.eu first appeared on the internet sometime in 2013.
Only their standard account has requotes while the other two do not experience any requotes.
Copy trading is also provided by other more experienced traders on the platform.
While TeleTrade looks like a decent Forex broker and a legit one, there is something that makes them feel different from our recommended brokers.
They’re suspected to have submitted multiple fake positive reviews at FPA forum.
When a broker engages in such activities, they come across as desperate.
If their service is this good, they should not struggle to get clients or even write fake reviews on other platforms to win the trust of their clients.
Tele Trade is doing everything else right. But we’re afraid that we can’t recommend them just yet.
We do not know what the motive was for submitting fake reviews on other reviews platform.
We’re not going to recommend them at this time but this verdict may change.