Brief information about Telforward
The broker Telforward was founded in 2018 and has its legal base at: 470 St Kilda Road Ground floor, Melbourne VIC 3004, Australia. However, the company’s experience and confirmation of legal registration are not provided.
On the website telforward.net, only permit numbers from various state regulators are listed, including the Cyprus Securities and Exchange Commission, the International Financial Services Commission of Belize, and the Financial Services Commission of Mauritius.
The company provides access to its website in 7 languages, including Russian. Contact with the broker can only be made via email, as contact phone numbers or messengers are not provided, there is only an option to request a callback.
Trading instruments and Telforward platform
The exact number of assets is not specified on the website, but asset classes include currency pairs, cryptocurrencies, stocks, industrial indices, precious metals, and commodities.
- Currency pairs
- Cryptocurrencies
- Stocks
- Industrial indices
- Precious metals
- Commodities
Telforward has a proprietary trading platform. The main advantages of the platform are presented on the website’s homepage, more detailed information is available in the “About the Company” section. However, the platform is not available for preview even after registration, there is no demo account, only real accounts are available.
Telforward trading accounts
The broker offers 3 real accounts with brief descriptions:
INSTANT: minimum deposit from 1,000 USD, recommended for platform testing.
PROFI: account with a deposit from 25,000 USD, allows trading with cryptocurrencies and precious metals.
PROFI+: the most expensive account with a deposit from 50,000 USD, provides access to all trading instruments and a high level of service.
Depositing and withdrawing funds from Telforward
The main page promises no commissions for depositing and withdrawing funds. To get more details, it is necessary to register a personal account on the Telforward website.
The payment systems used are not specified on the website, but the Client Agreement mentions the possibility of using bank cards and electronic payment systems.
The general procedure for withdrawing funds from Telforward is also not provided.
Conclusion
Telforward’s minimum deposit is 1,000 USD, which is above average. However, the company has a questionable legal status and licensing, and the trading conditions are described insufficiently clearly.
The broker insists on using its unique platform but does not offer the opportunity to familiarize with it for free on a demo version. Caution is recommended when investing 1,000 USD without prior acquaintance with the platform.
Moritz
My experience with Telforward was extremely disappointing. The broker lacked in transparency and was often unresponsive. My queries were sidestepped and the service provided was not up to standard. I was left with more confusion than clarity in regards to my financial options. The fees were exorbitant and simply not relative to the service rendered. I am utterly dissatisfied with their services and would not recommend Telford to anyone looking for strong brokerage guidance and support.