Forex Blog

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TeleTRADE — Russian Forex and CFD Broker

January 27, 2009 (Last updated on February 20, 2009) by

TeleTRADE is a very old Forex broker company. It’s quite popular in the ex-USSR territories due to the large amount of the off-line offices and the free trading seminars they are offering from time to time. The company was created back in 1994, but the on-line services were presented in 2001. Actually, the company’s age is probably its only advantage. The trading is done via MetaTrader 4 platform. Apart from Forex, CFD and gold trading is also available. The trading account can be opened with $2,000 and there is no mini-trading available — the minimum position size is 1 lot. TeleTRADE offers probably the highest spreads in the industry — 5 pips on EUR/USD. I don’t know why would anyone even bother trading with such a high spread. Another disadvantage of this broker is the numerous accounts of traders complaining about their brokerage ethics and services (including training).

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