Tinkoff Capital

TeleTrade hits the chest with its heel – it started in 1993. Warning: lies. There is publicly available information about the start of Sharashka’s office at the end of 1994.

The TeleTrade scammer is making a fool of himself: in 2000 he went online and became one of the leaders in the Forex market. Only then everyone was a dealing center (DC). There was no question of transferring positions to the interbank market. People received exorbitant leverage and a money scam.

Now the TeleTrade scammer is covering his ass with registration in Saint Vincent and the Grenadines. Attention: the local regulator has been saying for years: it does not regulate Forex brokers. There is no point in knocking on the door with a complaint. There will be no help.

TeleTrade is an unregulated scammer. No one will protect the interests of the poor fellows who opened his “Personal Account”. This scammer was kicked out of the Russian Federation in 2018 for numerous violations, aggressive advertising, and luring him to offshore companies. Since then the situation has not changed much. The only caveat is that the garbage dump no longer covers its butt with a Russian Federation license.

The official TeleTrade website provides a complete list of instruments. There is a typical “kitchen” set there. Including cryptocurrency pairs. Every trader must understand: if they exist, there will be no withdrawal to the interbank market.

The specifications also talk about plums. The shoulder is too wide for TeleTrade to work honestly. Swaps are mostly negative. This means there is a huge commission included in the rollover.

Stop out 20%. If so, the hero of our review is not afraid of requotes, slippages and gaps. There is no real money in the shoulder. There is only one goal – to quickly lose every client.

The TeleTrade website did not provide information on ways to top up and withdraw money. Here is another good reason not to open your “Personal Account”.

Reviews about TeleTrade

It was not easy to find real reviews about TeleTrade, and not a rotten order. The trickster skillfully ingratiates himself into trust. In exchange for bonuses, it requires a thumbs up.

People are biting. Helps the scammer to portray a reliable intermediary. But even despite all efforts, it is difficult to hide the truth.

For example, on fx-rating.com one person:

wonders on what basis TeleTrade works, if back in 2019 the Central Bank of the Russian Federation deprived it of its license;
I’m very surprised why there are no court cases.

It is noteworthy that TeleTrade did not sue anyone. The trickster entered into legal battles with journalists and traders whom he had cheated, and then did not want to give up the soot.

The author of the review saw a video of the Ministry of Internal Affairs about the sharashka on the Internet. It said that she deceived traders into deposits and took their beans offshore. The damage from this scheme alone exceeded ₽1 billion.

There are a lot of complaints about sharashka on trustpilot.com. One person asks never to invest in it. He trusted her advice and lost almost all his money. There is no way to withdraw balances. The bit has been dragging for months.

In response, the TeleTrade scammer showed his teeth. He stated that the review was fake and that the author was lying.

In response to the bit’s claims, the person updated his review:

• indicated the account number,
• gave more specifics.

Among other things, he said: he was persuaded to install a paid robot, which drained almost the entire deposit in a week.

On otzovik.com there are 32 reviews of TeleTrade with a rating of 1 point. There are stories about how this sharashka found clients in 2012. Bit:

• I was lying on my ears about the opportunity to make money.
• Provided free training.
• Demanded that traders take responsibility for other people’s deposits. They merged. The scam broker demanded compensation.

Another former patient of the TeleTrade scam warns: the fake broker has a rotten reputation. Managers are like annoying flies. The plan is impossible. The poor guy says: he fell for the fairy tale about learning to trade. Now calculates the loss.

The next reviewer tells a similar story about training from TeleTrade. In fact, this is another scam. And very arrogant. Tens of thousands of people lost their savings.

You opened a “Personal Account” with TeleTrade (“TeleTrade”), but now you can’t withdraw money? The legal department of Rating Forex will help. You complain about fraud – we return all your capital for free. You will definitely get everything that the scammer took away.

Terms of cooperation. How to make money with TeleTrade?

TeleTrade offers investments:

• in Forex;
• metals;
• indexes;
• energy resources;
• CFDs of US, EU shares;
• cryptocurrencies;
• goods;
• bonds.

The scam broker’s website provides the entire list of tools. There are minimum and average spreads for each asset for different account types. It is important to understand: these numbers are a fairy tale. In reality, the sharashka widens the spreads as much as possible in order to prevent them from getting a profit.

There are 4 trading accounts to choose from:

• MetaTrader 5 – ECN.
• MetaTrader 5 – Invest.
• MetaTrader 4 – NDD.
• MetaTrader – CENT.

These accounts have nothing to do with real ECN and NDD. “TeleTrade” is a scammer, a “kitchen”. Such ones do not bring transactions to the interbank market. Proof:

A swollen shoulder that grows to 1:500.
Cryptocurrency in the list of assets. Such instruments do not have liquidity providers. Their trade is simulated. The situation is the same with other financial assets.

Deposit requirements are not specified. Accounts differ in the number of available instruments, minimum spreads and commissions.

In ECN:

• Leverage – up to 1:500.
• Spreads – from 0.2 points.
• Commission – 0.008%.
• Stop out – 20%.

A typical situation for a scam. Such tricksters do not give a low stop out so that the trader can withstand drawdowns. The bits need to ensure that when the price reaches the stop-out, there is absolutely nothing left at the trader’s depot.

To Invest:

• Commission – 0.3%.
• Spreads – from 0 points.
• Instruments – 500 ETFs and CFDs.
• Stop-out – 10%.

Considering that the scammer has no access to real exchanges, ETFs are fake.

In NDD everything is the same as in ECN. Only:

• Spreads – from 0.8 points.
• Commission – 0.007%.

You will have to trade in MT4, which appeared 20 years ago. You can’t even hope to make money.

CENT has no specifications at all. Kidala says: the account works the same as ECN, NDD. But all the lots have been reduced a hundred times.

How to withdraw money from TeleTrade and top up your account

Rating Forex did not find information about how to deposit money in a depository, how long it takes, or how much you will have to pay. The situation is the same with the conclusion. There is a space instead of the bank details of the legal entity where the trader’s capital should flow after replenishment.

Judging by the reviews, Sharashka accepts capital in crypto. This moment is not advertised so as not to be associated with scams. Rating Forex reminds you: an honest intermediary does not hide ways to deposit and withdraw. This is the most important information for traders.

Registration and regulation

The official TeleTrade website is managed by TeleTrade D.J. LLC:

• The year of registration is 2022.
• Place of registration: Saint Vincent and the Grenadines.

The dodger does not talk about previous registrations. But he cheerfully rustles about 26 offices in different countries of the world. However, there are no addresses.

Previously, the sharashka had several registrations. One is offshore. The other is on the territory of the Russian Federation. Under the guise of a license in Russia, he lured people into the offshore “kitchen”, lying on their ears that conditions were better there. The scammer pointed his finger at the inflated leverage, which supposedly will help everyone make money.

The fairy tale ended in 2018. Then the Central Bank of the Russian Federation kicked TeleTrade out of the Russian border and deprived it of its license. Since then, Sharashka’s office has been wandering around various offshore companies, not forgetting to show off the awards purchased in the Russian Federation before 2018.

A current TeleTrade scam license costs nothing. The paper was issued by the regulator of Saint Vincent and the Grenadines. This supervisory authority, which has been warning for years, does not regulate Forex brokers.

Rating Forex warns: not a single financial regulator monitors the work of TeleTrade. Udila is not responsible for deceiving clients. There will be no punishment. Moreover, the garbage dump managed to be blacklisted by the Central Bank of the Russian Federation as an illegal professional participant in the financial market.

How TeleTrade scams you out of money

Scams like TeleTrade are different from most Forex scams. They live for years because they do not engage in blatant theft. Anglers are more cunning.

TeleTrade is very aggressive in forcing you to open a “Personal Account”. They use advertising, cold calls, and fake advertisements about the prospect of making some money. The rotten trickster really needs traders who know nothing about how the market works and don’t understand why dumpsters without documents with a leverage of up to 1:500 are dangerous.

Most local traders merge without the intervention of the sharashka. A very wide leverage, a low stop-out level and fatty spreads, which do not allow carbon deposits to settle properly, help.

If the patient makes a profit even despite all the steps and a sophisticated trading platform, the scammer takes him seriously:

• begins to impose unprofitable trades;
• offers trading without stop loss;
• inserts studs.

If all this does not help, the profit is cancelled. The joke is rustling: the profit was received by mistake and therefore must be written off. At the same time, no one will return the commissions charged for opening and closing a position.

Rating Forex warns: withdrawals from TeleTrade proceed at a snail’s pace. During this time, the scam broker manages to make several unprofitable trades, which lead to the loss of the deposit. Only a few succeed in obtaining and removing carbon deposits.