FXCM
Teletrade
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Overview
FXCM was founded in 1999 and is headquartered in United States, while Teletrade was established in 2008 and is based in Cyprus. FXCM holds licences including Financial Conduct Authority (FCA), while Teletrade is regulated by Cyprus Securities and Exchange Commission (CySEC) among others. FXCM serves 10,000+ clients worldwide; Teletrade has 50,000+. The minimum deposit is $1 at FXCM and $100 at Teletrade.
| Feature | FXCM | Teletrade |
|---|---|---|
| Min. Deposit | $1 | $100 |
| Regulation | Financial Conduct Authority (FCA) | Cyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID) |
| Founded | 1999 | 2008 |
| Country | United States | Cyprus |
| Clients | 10,000+ | 50,000+ |
Fees
Fees are a critical factor when choosing between FXCM and Teletrade, directly affecting your bottom line as a trader. FXCM has a lower barrier to entry with a minimum deposit of $1 (vs $100 at Teletrade). Neither broker charges withdrawal fees. Overall, FXCM scores higher on fees in our assessment.
| Feature | FXCM | Teletrade |
|---|---|---|
| Min. Deposit | $1 | $100 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | Yes |
Platforms
FXCM offers MT4, MT5, cTrader, while Teletrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. The two brokers are closely matched on platform offering.
| Feature | FXCM | Teletrade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps | 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 FXCM 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. The two brokers are evenly matched on educational content.
| Feature | FXCM | Teletrade |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. FXCM accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Teletrade supports 2 (Skrill, Neteller). FXCM uniquely supports bank transfer and credit/debit card among the two brokers. Teletrade uniquely supports Skrill and Neteller among the two brokers. FXCM scores higher on deposit and withdrawal flexibility.
| Feature | FXCM | 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 FXCM and Teletrade offer live chat support. Both provide phone support. Email support is available at both brokers. FXCM supports 2 languages and Teletrade supports 15, giving Teletrade broader global reach. Both brokers are comparable on support quality.
| Feature | FXCM | 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 |