TeleTrade vs World Forex Comparison
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Comparison Table of TeleTrade and World Forex
| Broker | TeleTrade | World Forex |
|---|---|---|
| Rating | 3.6/5 | 4/5 |
| Foundation Year | 2000 | 2007 |
| Regulated in Countries | Saint Vincent and the Grenadines | Saint Vincent and the Grenadines, Vanuatu |
| Minimum Deposit |
|
|
| Spread | from 0 points | from 0 points |
| Max Leverage | 1:500 | 1:1000 |
| Trading Assets (CFDs) |
|
|
| Trading Platforms |
|
|
| Review | TeleTrade Review | World Forex Review |
This broker is ideally suited for experienced traders who value narrow spreads and a variety of financial instruments. Beginners may find it difficult due to the lack of extensive educational materials.
World Forex is suitable for beginners and experienced traders thanks to narrow spreads and a wide selection of trading accounts.
TeleTrade Review
TeleTrade represents a comprehensive solution for traders looking for tight spreads, a variety of financial instruments, and quality customer support. It benefits experienced traders who can fully utilize the extensive analytical tools. However, beginners may find it challenging to get started without a wide range of educational materials.
If you are ready to undertake an intensive self-learning journey or possess ample experience, this broker can offer you all the necessary conditions for successful trading.
Pros and Cons of TeleTrade
Pros
- Tight spreads.
- A wide range of deposit and withdrawal methods.
- Diversity of financial assets.
- An extensive set of analytical tools.
- Quality customer support.
Cons
- High commission on ECN and NDD accounts.
- High swaps.
- Long withdrawal request processing time.
- Lack of educational materials other than articles.
World Forex Review
World Forex offers traders a variety of trading accounts and competitive conditions with low spreads, making it an attractive choice for clients interested in saving on trading costs. Support for the popular MetaTrader 4 and MetaTrader 5 trading platforms guarantees a high level of convenience and functionality, while a large selection of payment systems and the broker's coverage of deposit fees simplify financial transactions.
WForex is best suited for active traders who prefer short-term trading and can take advantage of low spreads and a wide choice of payment systems. The broker will be less attractive for beginners due to the lack of training resources and for those looking for long-term investment opportunities due to high swaps.
Pros and Cons of World Forex
Pros
- Various trading accounts.
- Low spreads.
- Availability of popular trading platforms.
- A wide range of payment systems and broker-covered commissions on deposits.
Cons
- Limited selection of educational materials.
- There is an absence of soft commodities and indices.
- High swaps.
World Forex is in the top 10 of the following ratings:
Reliability
| Broker | TeleTrade | World Forex |
|---|---|---|
| Reliability | 3/5 | 3.6/5 |
| Foundation Year | 2000 | 2007 |
| Regulated in Countries | Saint Vincent and the Grenadines | Saint Vincent and the Grenadines, Vanuatu |
| Regulators | SVGFSA SVGFSA | SVGFSA SVGFSA VFSC VFSC - |
TeleTrade
TeleTrade is a relatively reliable broker, especially considering its long-standing market experience.
Pros
- Long-term market history.
- A large client base worldwide.
Cons
- No regulation by stricter authorities (FCA, ASIC, BaFin).
World Forex
World Forex is a member of the Financial Commission (FinaCom), and the quality of order execution on the broker's platform is analyzed monthly by the VerifyMyTrade service. However, WForex is regulated in offshore jurisdictions.
Pros
- Monthly audit and certification of orders.
- Trader protection through a compensation fund.
Cons
- Regulated in offshore jurisdictions.
Account Opening
| Broker | TeleTrade | World Forex |
|---|---|---|
| Account Opening | 5/5 | 5/5 |
| Minimum Deposit |
|
|
TeleTrade
The registration process with TeleTrade broker is extremely convenient and fast. Minimal field input and the ability to log in from the main page simplify the start in trading.
World Forex
Considering that a minimal amount of information is required for registration and the verification process is standard, it can be said that the account opening process at WorldForex is quite simple and convenient.
Account Types
| Broker | TeleTrade | World Forex |
|---|---|---|
| Account Types | 3.5/5 | 5/5 |
| Trading Accounts |
|
|
| Minimum Deposit |
|
|
| Spread | from 0 points | from 0 points |
| Max Leverage | 1:500 | 1:1000 |
| Trading Assets (CFDs) |
|
|
| Trading Platforms |
|
|
| Demo Account | ||
| Swap-free Account |
TeleTrade
The broker offers standard trading accounts with additional options such as "24% Bonus" and "Copy Trading". However, the absence of cent, fixed, and Islamic accounts narrows the choices for specialized traders.
Pros
- Additional income through "24% Bonus".
- The "Copy Trading" service for diversification.
- Loyalty program with bonus points.
Cons
- No accounts with fixed spreads.
- No cent accounts.
- No Islamic accounts.
World Forex
WorldForex offers a variety of account types, meeting the needs of different traders, making it a versatile choice.
Pros
- Wide selection of account types, including specialized accounts.
- Availability of a demo account and copy trading services.
Commissions
| Broker | TeleTrade | World Forex |
|---|---|---|
| Commissions | 2.5/5 | 3.5/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 1.8 | |
| Commission per Lot | $0.86 |
TeleTrade
The level of commissions can be considered average, making the broker's services suitable for various types of traders, but not ideal for all.
Pros
- Competitive spreads on the standard account.
- No withdrawal fees in certain cases.
Cons
- High transaction commission on ECN and NDD accounts.
- Above-average swaps on the standard account.
- Additional commission for account inactivity.
World Forex
Low spreads make trading accessible, but relatively high swaps and standard margin rates can increase the overall cost of trading, especially for traders using long-term trading strategies.
Deposit and Withdrawal
| Broker | TeleTrade | World Forex |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
| Account Funding Methods |
|
|
TeleTrade
The broker offers a variety of transaction methods, most of which are commission-free and with fast processing times.
Pros
- Wide selection of deposit and withdrawal methods.
- Most operations are commission-free.
- Instant fund crediting for most methods.
Cons
- Withdrawal requests can be processed for up to 7 business days.
- In some cases, a commission is charged for deposits and withdrawals.
World Forex
WorldForex provides convenient and fairly quick methods for depositing and withdrawing funds, but high commissions for withdrawals by payment systems can sometimes be an issue for clients.
Markets and Products
| Broker | TeleTrade | World Forex |
|---|---|---|
| Markets and Products | 4.5/5 | 3/5 |
| Forex | 76 | 55 |
| Precious Metals | 17 | 4 |
| Energy Carriers | 4 | 2 |
| Soft Commodities | 7 | - |
| Indices | 26 | - |
| Stocks | 146 | 46 |
| Bonds | 3 | - |
| Cryptocurrency | 79 | 17 |
TeleTrade
TeleTrade offers a wide range of financial instruments, making it attractive for various categories of investors.
Pros
- A large number of currency pairs.
- Wide selection of CFDs on metals and cryptocurrencies.
Cons
- Some brokers offer more CFDs.
World Forex
The World Forex product range is limited but covers the main asset categories.
Pros
- A large number of currency pairs.
- Spot metals and oil.
- Availability of CFDs on cryptocurrencies.
Cons
- No soft commodities and indices.
- Relatively small number of CFDs on stocks.
- Lack of opportunities for extended portfolio diversification.
Trading Platforms
| Broker | TeleTrade | World Forex |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
| Trading Platforms |
|
|
TeleTrade
TeleTrade provides excellent trading opportunities, offering two versions of the popular MetaTrader platforms.
Pros
- Support for MetaTrader 4 and 5, popular and reliable platforms.
- Availability on various operating systems and devices.
- Ability to use automated trading robots.
Cons
- Lack of proprietary platform or alternative to MetaTrader.
World Forex
World Forex trading platforms offer a wide range of functionalities and ease of use, although the broker lacks an alternative to MetaTrader for mobile and desktop devices.
Analytics
| Broker | TeleTrade | World Forex |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
TeleTrade
TeleTrade provides a good range of analytical tools, such as an economic calendar and technical analysis.
Pros
- Includes an economic calendar and updates news.
- Professional market reviews.
- Video analytics available.
Cons
- Lack of trading signals.
- Absence of calculators and technical analysis services.
World Forex
World Forex offers a decent set of tools for market analysis. However, the analytics section could be more diverse and include additional analytical tools or signals to better support traders.
Education
| Broker | TeleTrade | World Forex |
|---|---|---|
| Rating | 2/5 | 2/5 |
TeleTrade
The educational materials at TeleTrade are limited to articles only, which is not ideal for those seeking comprehensive education. The variety and depth of materials are severely limited.
World Forex
The education section of the World Forex broker provides basic information for beginners, but is limited in scope and learning formats. Expanding and diversifying educational materials could improve its usefulness and appeal to traders.
Customer Support
| Broker | TeleTrade | World Forex |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
| Email Support |
|
|
| Hotline Phones |
|
|
| Social Media | — |
Telegram
VK
Twitter
OK
YouTube
TradingViewTeleTrade
TeleTrade's technical support offers a wide range of communication channels and receives positive feedback from clients. Prompt response and quality consultation make this service one of the broker's strong points.
World Forex
The technical support section of World Forex offers a variety of communication channels, ensuring accessibility and convenience for clients.
