This profile is currently being reviewed by the BestForex.io editorial team. Some information may be incomplete or subject to change.
TeleTrade Group Review
TeleTrade Group was a Russian forex broker. The Bank of Russia cancelled its dealer license in December 2018, and the firm is now closed to new clients.
Min Deposit
N/A
Spreads From
Not available now. Its Russian forex dealer business is closed.
Max Leverage
Not available now. Its Russian forex dealer business is closed.
Platforms
MetaTrader 4, MetaTrader 5
Pros
- Operated under a real Bank of Russia forex dealer license from 2016 to 2019
- Traded under the TeleTrade name since 1994, one of the older forex brands
- Its old Cyprus licensed business still operates today under a new name
- The Bank of Russia ordered a client fund return, not a silent shutdown
- Once offered the widely used MetaTrader 4 and MetaTrader 5 platforms
Cons
- The Bank of Russia cancelled its forex dealer license in December 2018
- Russian police raided its Moscow offices in 2016 over fraud claims
- A Moscow court jailed a former manager of a TeleTrade unit in 2021
- Its Cyprus arm paid CySEC a 120,000 euro settlement for rule breaks in 2021
- A site still using the TeleTrade name today runs from an offshore firm
- The regulated Cyprus business quietly dropped the TeleTrade name in 2024
TeleTrade Group was a forex and CFD broker brand that traces back to 1994 in Russia. It grew into a group of firms in Russia and nearby countries, plus a licensed Cyprus arm serving European Union clients as TeleTrade Europe.
The Bank of Russia gave the main firm, OOO TeleTrade Group, a forex dealer license in May 2016. Police raided its Moscow offices a month later over fraud claims tied to client money. In December 2018, the Bank of Russia cancelled the license, citing capital errors, false reports, and missed deadlines. It had to return client funds by 27 January 2019. In 2021, a Moscow court jailed a former TeleTrade unit manager over client losses.
The Cyprus arm kept its CySEC license but paid a 120,000 euro settlement in 2021 for rule breaks. In 2024, it dropped the TeleTrade name and now trades as Earn. A site still using the TeleTrade name says it runs from Saint Vincent and the Grenadines, which has no major regulator. Treat this brand as closed, not safe for new deposits.
Max Leverage
Not available now. Its Russian forex dealer business is closed.
Spreads From
Not available now. Its Russian forex dealer business is closed.
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
