Direct FX
Teletrade
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Overview
Direct FX was founded in 2006 and is headquartered in New Zealand, while Teletrade was established in 2008 and is based in Cyprus. Direct FX holds licences including Unregulated, while Teletrade is regulated by Cyprus Securities and Exchange Commission (CySEC) among others. Direct FX serves 10,000+ clients worldwide; Teletrade has 50,000+. The minimum deposit is $1 at Direct FX and $100 at Teletrade.
| Feature | Direct FX | Teletrade |
|---|---|---|
| Min. Deposit | $1 | $100 |
| Regulation | Unregulated | Cyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID) |
| Founded | 2006 | 2008 |
| Country | New Zealand | Cyprus |
| Clients | 10,000+ | 50,000+ |
Fees
Fees are a critical factor when choosing between Direct FX and Teletrade, directly affecting your bottom line as a trader. Direct FX has a lower barrier to entry with a minimum deposit of $1 (vs $100 at Teletrade). Neither broker charges withdrawal fees. Direct FX charges deposit fees; Teletrade does not. Overall, Direct FX scores higher on fees in our assessment.
| Feature | Direct FX | Teletrade |
|---|---|---|
| Min. Deposit | $1 | $100 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | Yes |
Platforms
Direct FX offers MT4, MT5, cTrader, while Teletrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Direct FX supports social and copy trading features, which Teletrade does not offer. The two brokers are closely matched on platform offering.
| Feature | Direct FX | Teletrade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Not available | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps (Ios & Android) |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Direct FX and Teletrade compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. Teletrade scores higher overall in education and research.
| Feature | Direct FX | Teletrade |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Direct FX accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Teletrade supports 2 (Skrill, Neteller). Direct FX uniquely supports bank transfer and credit/debit card among the two brokers. Teletrade uniquely supports Skrill and Neteller among the two brokers. Direct FX scores higher on deposit and withdrawal flexibility.
| Feature | Direct FX | Teletrade |
|---|---|---|
| Bank Transfer | Yes | No |
| Credit Card | Yes | No |
| PayPal | No | No |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Direct FX and Teletrade offer live chat support. Both provide phone support. Email support is available at both brokers. Direct FX supports 2 languages and Teletrade supports 15, giving Teletrade broader global reach. Both brokers are comparable on support quality.
| Feature | Direct FX | Teletrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian |