Teletrade
TopForex
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Overview
Teletrade was founded in 2008 and is headquartered in Cyprus, while TopForex was established in 2009 and is based in Cyprus. Both brokers are regulated by Cyprus Securities and Exchange Commission (CySEC), among other authorities. Teletrade serves 50,000+ clients worldwide; TopForex has 10,000+. Both brokers share the same minimum deposit of $100.
| Feature | Teletrade | TopForex |
|---|---|---|
| Min. Deposit | $100 | $100 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID) | Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2008 | 2009 |
| Country | Cyprus | Cyprus |
| Clients | 50,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Teletrade and TopForex, directly affecting your bottom line as a trader. Both require a minimum deposit of $100. TopForex charges withdrawal fees while Teletrade does not, giving Teletrade an edge for frequent withdrawers. Overall, Teletrade scores higher on fees in our assessment.
| Feature | Teletrade | TopForex |
|---|---|---|
| Min. Deposit | $100 | $100 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | Yes | Yes |
Platforms
Teletrade offers MT4, MT5, cTrader, while TopForex supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. TopForex supports social and copy trading features, which Teletrade does not offer. The two brokers are closely matched on platform offering.
| Feature | Teletrade | TopForex |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps (Ios & Android) | MT4, Web Trader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Teletrade and TopForex 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 | Teletrade | TopForex |
|---|---|---|
| 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. Teletrade accepts 2 of the tracked payment methods (Skrill, Neteller), while TopForex supports 2 (bank transfer, credit/debit card). Teletrade uniquely supports Skrill and Neteller among the two brokers. TopForex uniquely supports bank transfer and credit/debit card among the two brokers. TopForex scores higher on deposit and withdrawal flexibility.
| Feature | Teletrade | TopForex |
|---|---|---|
| Bank Transfer | No | Yes |
| Credit Card | No | Yes |
| PayPal | No | No |
| Skrill | Yes | No |
| Neteller | Yes | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Teletrade and TopForex offer live chat support. Both provide phone support. Email support is available at both brokers. Teletrade supports 15 languages and TopForex supports 2, giving Teletrade broader global reach. Both brokers are comparable on support quality.
| Feature | Teletrade | TopForex |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian | English, and Chinese |