TeleTrade Exposed: Withdrawal Denials, Deposit Rejections & Trader Losses

Facing withdrawal issues at TeleTrade and finding them not ending anytime soon? Depositing through a valid mode yet getting a rejection from the broker? Constantly facing losses at TeleTrade? These are nothing but an indicator of the investment scam you may witness later. Many traders have expressed concerns over their bad experience at the broker. In this article, we will share their comments. So, keep reading!

Top Complaints Against TeleTrade

Withdrawal Denials are Too Normal Here

Traders constantly face issues regarding withdrawals as TeleTrade continues to deny their applications or does not respond to their queries. For some, withdrawal requests have not been fulfilled for years, demonstrating the lack of empathy and care for traders here. Here are two screenshots that explain the pain and misery of traders.

Deposit Rejected on Grounds of Unverified Email Account. But Why Did TeleTrade Debit the Amount?

TeleTrade is also accused of rejecting a deposit made by the trader through a verified Neteller account. The company, in response, attributed the wrong email address as the reason for the deposit rejection. While the traders email address differed from what was shared when opening the trading account, TeleTrade surprisingly deducted the amount. Here is what the trader expressed.

Too Much Commission

Traders also accuse TeleTrade of charging a higher commission, making it impossible for them to scalp trades successfully. As scalp trading includes intense trading activities, there can be more trades. With more trades, the commission charge, which is already high, increases the trading cost for traders.

Tall Losses for Traders

Traders continue to face losses owing to fake promises by TeleTrade executives. One trader narrated a harrowing experience saying that the robot installed in his VIP trading account was hyped to automate the trading experience. However, all he received were losses. Acting upon the weak forex signals, the trader suffered losses. Here is what the trader said.

The Score for TeleTrade

TeleTrade understandably receives a poor rating owing to the growing complaints. With it being an unlicensed forex broker, the WikiFX team could not give it more than 2.47 out of 10.

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