Written by ForexBrokers.com
In this head to head comparison of TeleTrade vs iFOREX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
TeleTrade and iFOREX are both established online brokers, with TeleTrade founded in 1994 and iFOREX following in 1996. Neither broker is publicly traded or operates as a bank, focusing solely on providing online trading services. When it comes to regulatory oversight, both TeleTrade and iFOREX hold one Tier-1 license, signaling a high level of trustworthiness as per ForexBrokers.com's standards. However, neither broker possesses any Tier-2 licenses, which are also trusted by ForexBrokers.com.
In terms of ForexBrokers.com's Trust Score, both brokers present an average risk, with TeleTrade earning a score of 71 and iFOREX scoring slightly higher at 75. These scores illustrate a similar level of trust, placing both companies within the average risk category. As such, traders considering these brokers will find comparable regulatory backing and trust scores, making them similar choices in the online trading landscape.
| Feature |
TeleTrade
|
iFOREX
|
|---|---|---|
| Year Founded | 1994 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing online brokers, it's important to understand the differences in their commissions and fees. TeleTrade and iFOREX, both well-known in the trading industry, have distinct approaches in this regard. TeleTrade, although lacking specific average spread data, is rated 4 out of 5 stars for commissions and fees. This rating places TeleTrade at rank 46 out of 62 brokers according to ForexBrokers.com, indicating a competitive standing in the market.
iFOREX, on the other hand, also does not provide average spread data. However, it has a slightly lower rating of 3 out of 5 stars in the commissions and fees category. This places iFOREX at a lower rank of 60 out of 62 brokers as assessed by ForexBrokers.com. The difference in rankings suggests that while iFOREX offers reasonable services, its fee structure may not be as appealing as that of some of its competitors, including TeleTrade.
In essence, both TeleTrade and iFOREX have unique strengths in terms of their fee structures. TeleTrade comes out ahead in this comparison, offering potentially more customer-friendly commission and fee options as reflected in their higher rating and rank. For potential traders, evaluating these aspects can be crucial in choosing a broker that aligns best with their financial goals. When selecting a broker, considering the nuanced differences between these firms could guide you in making a more informed decision.
| Feature |
TeleTrade
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $100 | $100 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing TeleTrade and iFOREX, both offer forex trading as CFDs or spot contracts. iFOREX leads with 750 tradeable symbols compared to TeleTrade's 500. In terms of forex pairs, iFOREX offers 88 while TeleTrade provides 61 pairs, giving iFOREX a slight edge for those focused on currency trading. Unfortunately, neither platform offers the option to buy exchange-traded securities, such as Apple shares, on U.S. or international exchanges.
For those interested in cryptocurrency, both brokers allow trading through derivatives but not the purchase of actual cryptocurrencies. TeleTrade offers the added feature of copy trading, which is absent with iFOREX. Despite these differences, both TeleTrade and iFOREX share a similar rating of 3.5 stars in the Range of Investments category. According to ForexBrokers.com, iFOREX ranks slightly higher at 41st among 62 brokers, while TeleTrade is ranked 45th, highlighting minor variations in their investment offerings.
| Feature |
TeleTrade
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 750 |
| Forex Pairs (Total) | 61 | 88 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When it comes to trading platforms and tools, TeleTrade and iFOREX each have their unique offerings, catering to different types of traders. TeleTrade provides a comprehensive experience with both MetaTrader 4 and MetaTrader 5, appealing to those familiar with these widely-used trading platforms. They offer a Windows-based desktop download, as well as a web-based trading option, ensuring flexibility for users. Moreover, TeleTrade supports simulated trading with a free virtual demo account, which is beneficial for beginners looking to hone their skills without financial risk. For those interested in copying successful trades, TeleTrade also provides copy trading capabilities and integrates with ZuluTrade.
In contrast, iFOREX stands out with its proprietary platform, designed in-house, although it lacks compatibility with the MetaTrader suite many traders may already be comfortable with. While it does not provide a desktop application, iFOREX offers a web-based platform that includes essential features like trading directly from stock charts. When it comes to charting tools, iFOREX offers 25 drawing tools compared to TeleTrade's 15, and surpasses TeleTrade with 9 watch list columns for customized monitoring. However, iFOREX does not support simulated trading accounts, which could be seen as a drawback for those new to trading. Despite their differences, both brokers receive a solid 4-star rating for their trading platforms and tools, featuring various elements to meet the diverse needs of their clients.
| Feature |
TeleTrade
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 35 | 57 |
| Charting - Drawing Tools (Total) | 15 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
TeleTrade and iFOREX both offer mobile trading apps for iPhone and Android users, giving traders the flexibility to monitor the markets on the go. However, there are notable differences in features and functionalities. TeleTrade provides stock and forex price alerts, allowing users to stay informed of market movements instantly, a feature absent in the iFOREX app. Additionally, TeleTrade's app impresses with extensive technical tools, including 35 technical studies and the ability to draw trendlines, view multiple time frames, and auto-save chart drawings. In contrast, iFOREX does not support these advanced charting features, potentially limiting the in-depth analysis some traders might seek.
While neither platform offers syncing of watchlist symbols between mobile and online accounts, TeleTrade allows users to create a watchlist featuring real-time quotes, adding to its convenience. iFOREX, however, does not support this capability. Despite these differences, both apps receive decent ratings of 4 stars for mobile trading. Yet, TeleTrade stands out by securing the 25th spot out of 62 brokers in the Mobile Trading Apps category on ForexBrokers.com, outperforming iFOREX, which ranks at 55th. This suggests that for traders valuing detailed charting features and real-time alerts, TeleTrade might be the preferable choice for mobile trading.
| Feature |
TeleTrade
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 35 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When it comes to daily market commentary, both TeleTrade and iFOREX ensure their users are well-informed, offering regular insights in this area. However, for those prioritizing forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, TeleTrade holds an advantage as iFOREX doesn’t provide news from these renowned outlets. On the technical and fundamental research side, iFOREX incorporates tools from Trading Central, unlike TeleTrade, which could benefit traders seeking those specific analytical insights. Moreover, iFOREX offers a sentiment-based trading tool that can provide valuable perspectives on long and short positions, a feature TeleTrade lacks.
Both brokers offer economic calendars to guide traders with current and upcoming global news events, making it easier to track market-moving developments. Despite having different offerings, both TeleTrade and iFOREX enjoy a similar research rating of 3.5 stars. However, TeleTrade is positioned slightly higher in the rankings, sitting at #38 among 62 brokers, compared to iFOREX at #48. Whether you prefer comprehensive news coverage or specific trading tools, understanding these differences can help refine your choice between these two online brokers.
| Feature |
TeleTrade
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available to beginners from TeleTrade and iFOREX, both online brokers fall short of expectations. Neither TeleTrade nor iFOREX offers the minimum of 10 educational pieces focusing on forex or CFDs, such as articles or videos. Additionally, neither provides monthly online educational webinars or maintains an archive of previously recorded webinars for clients to access. However, iFOREX does stand out slightly for beginners by offering at least 10 beginner educational videos that cover trading basics, while TeleTrade does not provide this resource.
Unfortunately, both brokers are missing an investor dictionary with essential investing terms, which could be beneficial for new traders trying to learn the ropes. Despite the similarities in lacking extensive educational materials, both brokers share an education rating of 3.5 stars out of 5. However, when ranked among 62 brokers, iFOREX holds the 53rd position while TeleTrade ranks lower at 61st in the education category. Overall, iFOREX offers a marginally better selection of beginner-focused materials, but there's ample room for improvement for both platforms.
| Feature |
TeleTrade
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | No | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that TeleTrade is better than iFOREX. TeleTrade finished with an overall rank of #50, while iFOREX finished with an overall rank of #52.
TeleTrade was an early pioneer of mobile apps for finance, then became a forex and CFD broker, now offering the MetaTrader platform. With just one regulatory license, Teletrade has a lower Trust Score than more established forex brokers.
| Feature |
TeleTrade
|
iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 71 | 75 |
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Both TeleTrade and iFOREX do not provide the option to purchase actual, delivered cryptocurrencies, focusing instead on offering cryptocurrency derivatives for traders seeking exposure to the digital currency market.
While both TeleTrade and iFOREX facilitate deposits and withdrawals through Skrill, Visa, Mastercard, and bank wires, only iFOREX supports PayPal as an additional payment option, with neither broker providing ACH or SEPA transfers.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | TeleTrade | iFOREX | |
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| Trust Score | 71 | 75 | |
| Winner | check_circle | ||
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| Broker Screenshots | TeleTrade | iFOREX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) | |||
| Mobile Trading Gallery (click to expand) | |||
| Research Gallery (click to expand) | |||
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| Regulation | TeleTrade | iFOREX | |
|---|---|---|---|
| Trust Score | 71 | 75 | |
| Year Founded | 1994 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | TeleTrade | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | TeleTrade | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | TeleTrade | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 750 | |
| Forex Pairs (Total) | 61 | 88 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | TeleTrade | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | TeleTrade | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $100 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | TeleTrade | iFOREX | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | TeleTrade | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 35 | 57 | |
| Charting - Drawing Tools (Total) | 15 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | TeleTrade | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 35 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | TeleTrade | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | TeleTrade | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | No | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | No |
| Major Forex Pairs | TeleTrade | iFOREX | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review |
| Overall | TeleTrade | iFOREX | |
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| Trust Score | 71 | 75 | |
| Winner | check_circle | ||
| Review |
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