Written by ForexBrokers.com
In this head to head comparison of IronFX vs TeleTrade, 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.
IronFX, established in 2010, and TeleTrade, founded in 1994, are both online brokers that provide a variety of financial services. Neither company is publicly traded or operates as a bank. When it comes to regulatory standing, IronFX holds three highly trusted Tier-1 licenses, while TeleTrade possesses one. IronFX has a Trust Score rating of 83 out of 99, indicating it is a trusted broker according to ForexBrokers.com.
TeleTrade's Trust Score rating is 71 out of 99, placing it in the average risk category. The company does not hold any Tier-2 licenses, which are also recognized as trusted by ForexBrokers.com, similar to IronFX. Overall, both brokers have their own strengths, with IronFX having a slightly stronger regulatory framework based on their Trust Score and the number of Tier-1 licenses.
| Feature |
IronFX
|
TeleTrade
|
|---|---|---|
| Year Founded | 2010 | 1994 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing IronFX and TeleTrade in terms of commissions and fees, IronFX presents some opportunities for improvement. Traders using IronFX can expect spreads that are generally higher than the industry average. For instance, their Standard variable spread account lists a typical spread of 1.8 pips, although these can vary depending on the account type. Moreover, their zero fixed-spread account starts with a spread of zero, accompanied by an $18 per lot commission, and spreads widen to 3 pips during overnight trading.
On the other hand, TeleTrade offers a less transparent view regarding average spreads, as specific spread data is not readily available. This lack of information makes it challenging to offer a direct comparison to IronFX's spread details; however, it suggests that users should seek further details directly from TeleTrade for more precise information on their costs.
In terms of ratings and rankings, both brokers are evenly matched. IronFX is rated 4 stars for commissions and fees, ranking #47 out of 62 brokers on ForexBrokers.com. Similarly, TeleTrade also achieves a 4-star rating, although it fares slightly better in the ranking at #46. This closely matched performance suggests that while both brokers have their pros and cons, neither stands out significantly over the other in terms of pricing.
| Feature |
IronFX
|
TeleTrade
|
|---|---|---|
| Minimum Deposit | $50 | $100 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IronFX and TeleTrade both provide a platform for forex trading through CFDs or spot contracts, but there are notable distinctions in their offerings. IronFX supports a broader selection of forex pairs, offering 83 pairs compared to TeleTrade's 61. However, when considering the total number of tradeable symbols, TeleTrade presents a higher variety with 500 symbols, while IronFX offers 340. Both brokers fall short in providing access to exchange-traded securities on both U.S. and international markets, meaning clients cannot purchase shares directly in companies like Apple or Vodafone. Additionally, neither IronFX nor TeleTrade facilitates the purchase of actual cryptocurrencies; instead, they allow trading in cryptocurrency derivatives only.
Both platforms also feature copy trading services, enabling users to mirror the trades of successful investors. Despite their services in derivatives and forex, both IronFX and TeleTrade hold a moderate rating of 3.5 stars out of five for their range of investments. According to ForexBrokers.com rankings, TeleTrade slightly outpaces IronFX, securing the 45th position, compared to IronFX's 51st, on a list of 62 brokers evaluated for the range of investments they offer.
| Feature |
IronFX
|
TeleTrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 340 | 500 |
| Forex Pairs (Total) | 83 | 61 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| 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.
IronFX and TeleTrade both provide traders with a range of flexible trading platforms and tools. They offer popular features such as simulated trading through free virtual demo accounts, which are great for practicing and honing trading skills without financial risk. Both brokers do not have proprietary platforms; however, they cater to different trading preferences with Windows-based desktop download options and accessible web-based platforms via browser. Copy trading is available with both brokers, enhancing the social trading experience, although only TeleTrade supports MetaTrader 5 (MT5) and ZuluTrade, giving it a slight edge in terms of platform diversity.
When it comes to charting capabilities, IronFX and TeleTrade both offer a solid number of 15 drawing tools, and both allow direct trading from stock charts, thus providing a seamless trading experience. Watch lists are equally defined, with seven columns for both brokers. However, the key difference lies in their overall ratings and ranks for platforms and tools. IronFX is rated 3.5 stars and ranks 60 out of 62 brokers in this category, while TeleTrade scores a slightly higher rating of 4 stars and ranks 51, showing a more favorable impression among traders. Overall, TeleTrade appears to offer a more versatile suite of trading tools, especially with its support for MetaTrader 5 and ZuluTrade.
| Feature |
IronFX
|
TeleTrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 30 | 35 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to comparing the mobile trading apps of IronFX and TeleTrade, both brokers offer applications for iPhone and Android users, making access to trading convenient for a wide range of customers. Both platforms support essential features like stock or forex price alerts and the ability to draw trendlines on charts. One area where the apps fall short is the synchronization of watchlists across mobile devices and online accounts, which neither IronFX nor TeleTrade provides. However, in charting capabilities, TeleTrade edges slightly ahead with 35 technical studies compared to IronFX's 30. Both apps allow viewing across various time frames such as daily, weekly, or intraday and offer a handy auto-save feature for chart drawings. Additionally, users can maintain watchlists with real-time quotes on both platforms.
In terms of user ratings and broker rankings, TeleTrade tends to outperform IronFX. TeleTrade's mobile app is rated 4 out of 5 stars, better than IronFX's rating of 3.5 stars. Furthermore, when assessed by ForexBrokers.com among 62 brokers, TeleTrade ranks at #25 for mobile trading apps, significantly higher than IronFX's position at #61. These ratings reflect user satisfaction and reliability, indicating that while both apps provide necessary trading functionalities, TeleTrade might offer a more favorable experience overall.
| Feature |
IronFX
|
TeleTrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 35 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of IronFX and TeleTrade, both online brokers provide daily market commentary and supply forex news from top-tier providers like Bloomberg and Reuters, ensuring traders stay informed. However, a critical differentiator between the two is IronFX's inclusion of technical analysis tools from Trading Central, such as Technical Analytics, which gives its users an edge in market analysis. Neither broker offers tools from Autochartist, Acuity Trading, or market insights from TipRanks, and both omit sentiment-based trading tools. That said, they both feature an economic calendar to keep traders updated on global economic events.
In terms of ratings, IronFX achieves a higher research rating of 4 out of 5 stars compared to TeleTrade's 3.5. This assessment is reflected in their respective rankings among brokers for research on ForexBrokers.com, where IronFX holds the 28th position and TeleTrade ranks 38th out of 62 brokers. These rankings highlight IronFX's slightly superior research offerings, which may be a deciding factor for traders prioritizing access to comprehensive market analysis tools.
| Feature |
IronFX
|
TeleTrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners exploring online trading, the educational resources offered by IronFX and TeleTrade are worth considering. IronFX provides a comprehensive selection of educational materials tailored for those new to forex and CFDs. This includes over ten distinct educational pieces such as articles, videos, and archived webinars. Additionally, they offer a searchable archive of previously recorded webinars, making it easy for beginners to delve deeper into specific topics. IronFX also caters to novice traders with beginner-focused videos and an extensive investor dictionary with definitions of over 50 investing terms. Rated 4 out of 5 stars for education, IronFX ranks 44th out of 62 brokers in this category according to ForexBrokers.com.
In contrast, TeleTrade offers a more limited educational experience for beginners. While they don't provide the minimum of ten educational pieces specific to forex or CFDs, and lack a searchable archive of past webinars, TeleTrade does strive to support learner growth. However, they fall short in offering beginner-focused educational videos and an investor dictionary. Rated at 3.5 stars for education, TeleTrade ranks 61st out of 62 brokers on ForexBrokers.com’s list, reflecting its more limited educational resources compared to IronFX.
| Feature |
IronFX
|
TeleTrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that IronFX is better than TeleTrade. IronFX finished with an overall rank of #48, while TeleTrade finished with an overall rank of #50.
IronFX has come a long way to rebuild its brand, acquiring multiple regulatory licenses to improve its Trust Score, and creating balanced educational material. That said, pricing is an area where IronFX has room to further improve as spreads appeared higher than the industry average.
| Feature |
IronFX
|
TeleTrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 71 |
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Both IronFX and TeleTrade do not offer the ability to buy actual delivered cryptocurrency, but they both offer the ability to trade cryptocurrency derivatives.
Both IronFX and TeleTrade offer Skrill, Visa, Mastercard, and bank wire options for fund transactions, but neither supports ACH, SEPA, or PayPal 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 | IronFX | TeleTrade | |
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| Trust Score | 83 | 71 | |
| Winner | check_circle | ||
| Review |
| Broker Screenshots | IronFX | TeleTrade | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) | |||
| Mobile Trading Gallery (click to expand) | |||
| Research Gallery (click to expand) | |||
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| Regulation | IronFX | TeleTrade | |
|---|---|---|---|
| Trust Score | 83 | 71 | |
| Year Founded | 2010 | 1994 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IronFX | TeleTrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | 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) | Yes | No | |
| 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) | IronFX | TeleTrade | |
|---|---|---|---|
| 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 | IronFX | TeleTrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 340 | 500 | |
| Forex Pairs (Total) | 83 | 61 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| 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 | IronFX | TeleTrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IronFX | TeleTrade | |
|---|---|---|---|
| Minimum Deposit | $50 | $100 | |
| PayPal (Deposit/Withdraw) | No | No | |
| 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 | IronFX | TeleTrade | |
|---|---|---|---|
| Proprietary Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | IronFX | TeleTrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 35 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IronFX | TeleTrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 35 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IronFX | TeleTrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | IronFX | TeleTrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | IronFX | TeleTrade | |
|---|---|---|---|
| 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 | IronFX | TeleTrade | |
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| Trust Score | 83 | 71 | |
| Winner | check_circle | ||
| Review |
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