What Account Types and Fees Does TeleTrade Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Standard Account |
Beginners and general retail traders |
No commission, instant execution |
Popular among traders for accessing all market advantages |
| Professional Account |
Experienced traders |
Market execution, low spreads from 0.8 pips |
Requires familiarity with financial market realities |
| ECN Account |
Traders focused on algorithmic and high-frequency trading |
Market execution, interbank liquidity, spreads from 0.2 pips |
Suitable for advanced trading strategies |
| Cryptocurrency Account |
Holders of cryptocurrencies |
Trading in microbitcoin, direct cryptocurrency transactions |
Ideal for those looking to profit from digital assets |
| Demo Account |
New traders and those testing strategies |
Unlimited virtual deposit, real-time quotes |
Helps traders practice without financial risk |
Account Opening Process
To open an account with TeleTrade, traders must first submit personal, employment, and financial information. This includes providing identity verification documents such as an ID and proof of address. The process is designed to ensure compliance with regulatory standards. Flexibility is available as traders can upgrade to a professional account in the future if their trading needs change and they meet the necessary criteria.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major currency pairs |
| Forex (Minor Pairs) |
1.0 |
Varies |
Variable spreads apply |
| CFDs (Stocks) |
1.5 |
$0.01 per share |
Commission applies to stock trades |
| CFDs (Indices) |
1.0 |
Varies |
Commission may apply |
| Commodities (Gold, Oil) |
1.2 |
Varies |
Variable spreads based on market conditions |
| Cryptocurrencies (BTC, ETH) |
1.0% |
0.1% |
Fees vary based on volatility |
Other Fees
Additional costs associated with trading at TeleTrade may include deposit and withdrawal fees, inactivity fees, and overnight interest (swap rates). Currency conversion fees may also apply depending on the transaction type. It is advisable for traders to review these potential fees and consider them in their trading strategies.
