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MiFID II Disclosures

Best Execution & Cost Transparency

TeleTrade is committed to execution quality and transparency for its clients. According to our Best Execution Policy, major execution factors that influence the quality of our service are price and likelihood of execution of the client orders. TeleTrade discloses the execution quality scorecard for the above factors on a quarterly basis, for all types of accounts. Statistics include all valid market and pending/limit order requests received via the MetaTrade platform, excluding trader orders received orally or in writing.

  • EXECUTION SCORECARD Q4 2017
      Standard Account NDD Account
    PERCENTAGE OF MARKET ORDERS SUCCESSFULLY EXECUTED 90% 99%
    PERCENTAGE OF MARKET ORDERS FILLED WITHOUT REQUOTE 85% 100%
    PERCENTAGE OF TRIGGERED PENDING ORDERS FILLED «AT OR BETTER» 54% 57%
    PERCENTAGE AVERAGE PRICE SLIPPAGE FOR PENDING ORDERS 0.014% 0.013%
    PERCENTAGE OF TRIGGERED LIMIT ORDERS FILLED «AT OR BETTER» 85% 93%

 

  • EXECUTION SCORECARD Q1 2018
      Standard Account NDD Account
    PERCENTAGE OF MARKET ORDERS SUCCESSFULLY EXECUTED 94% 99%
    PERCENTAGE OF MARKET ORDERS FILLED WITHOUT REQUOTE 91% n/a
    PERCENTAGE OF TRIGGERED PENDING ORDERS FILLED «AT OR BETTER» 51% 55%
    PERCENTAGE AVERAGE PRICE SLIPPAGE FOR PENDING ORDERS 0.013% 0.016%
    PERCENTAGE OF TRIGGERED LIMIT ORDERS FILLED «AT OR BETTER» 81% 86%

 

  • EXECUTION SCORECARD Q2 2018
      Standard Account NDD Account
    PERCENTAGE OF MARKET ORDERS SUCCESSFULLY EXECUTED 96% 99%
    PERCENTAGE OF MARKET ORDERS FILLED WITHOUT REQUOTE 95% n/a
    PERCENTAGE OF TRIGGERED PENDING ORDERS FILLED «AT OR BETTER» 54% 51%
    PERCENTAGE AVERAGE PRICE SLIPPAGE FOR PENDING ORDERS 0.011% 0.011%
    PERCENTAGE OF TRIGGERED LIMIT ORDERS FILLED «AT OR BETTER» 81% 70%

 

  • EXECUTION SCORECARD Q3 2018
      Standard Account NDD Account
    PERCENTAGE OF MARKET ORDERS SUCCESSFULLY EXECUTED 98.25% 99%
    PERCENTAGE OF MARKET ORDERS FILLED WITHOUT REQUOTE 96.59% n/a
    PERCENTAGE OF TRIGGERED PENDING ORDERS FILLED «AT OR BETTER» 53% 54%
    PERCENTAGE AVERAGE PRICE SLIPPAGE FOR PENDING ORDERS 0.014% 0.013%
    PERCENTAGE OF TRIGGERED LIMIT ORDERS FILLED «AT OR BETTER» 83% 75%

 

  • EXECUTION SCORECARD Q4 2018
      Standard Account NDD Account
    PERCENTAGE OF MARKET ORDERS SUCCESSFULLY EXECUTED 88.10% 99%
    PERCENTAGE OF MARKET ORDERS FILLED WITHOUT REQUOTE 81.52% n/a
    PERCENTAGE OF TRIGGERED PENDING ORDERS FILLED «AT OR BETTER» 54% 52%
    PERCENTAGE AVERAGE PRICE SLIPPAGE FOR PENDING ORDERS 0.010% 0.009%
    PERCENTAGE OF TRIGGERED LIMIT ORDERS FILLED «AT OR BETTER» 83% 75%

 

  • EXECUTION SCORECARD Q1 2019
      Standard Account NDD Account
    PERCENTAGE OF MARKET ORDERS SUCCESSFULLY EXECUTED 70,64% 99%
    PERCENTAGE OF MARKET ORDERS FILLED WITHOUT REQUOTE 55,18% n/a
    PERCENTAGE OF TRIGGERED PENDING ORDERS FILLED «AT OR BETTER» 66,24% 51%
    PERCENTAGE AVERAGE PRICE SLIPPAGE FOR PENDING ORDERS 0,019% 0.007%
    PERCENTAGE OF TRIGGERED LIMIT ORDERS FILLED «AT OR BETTER» 99,97% 100%

 

  • EXECUTION SCORECARD Q2 2019
      Standard Account NDD Account
    PERCENTAGE OF MARKET ORDERS SUCCESSFULLY EXECUTED 82.19% 100%
    PERCENTAGE OF MARKET ORDERS FILLED WITHOUT REQUOTE 69.13% N/A
    PERCENTAGE OF TRIGGERED PENDING ORDERS FILLED «AT OR BETTER» 52.12% 52.12%
    PERCENTAGE AVERAGE PRICE SLIPPAGE FOR PENDING ORDERS 0.008% 0.016%
    PERCENTAGE OF TRIGGERED LIMIT ORDERS FILLED «AT OR BETTER» 100% 100%

 

TeleTrade strives to provides information on transactional costs. This information allows clients to choose the most appropriate account type for their needs and to plan their investments accordingly. Cost transparency information below shows the average impact of transaction costs per notional USD 1000 of trading volume on a quarterly basis.

Trading costs affect net profitability of a client account. The client should take these costs into consideration. For example, on a Standard Account, the net profitability of a trade can reasonably be expected to be, on average, 3 percent lower compared to the gross profitability.

Swap depends on the length of time in which a position is held open. For intra-day trading, cost of investment would be reduced, on average, from 3 percent to 2.6 percent on a Standard Account, and from 2.9 percent to 2.3 percent on an NDD Account.

Trading costs may vary significantly depending on the specific instrument being traded. For example, spreads on Exotic/non-Major currency pairs may be much higher than spreads on Major currency pairs. For detailed information about Spreads and Swaps on each instrument offered for each account type please refer to our trading conditions at https://www.teletrade.eu/trade/condition-mt4/forex, https://www.teletrade.eu/trade/condition-ndd-mt4/forex, https://www.teletrade.eu/trade/condition-mt5/forex.

  • Cost Transparency Q4 2017
      Standard Account NDD Account
    Spread $0.26 $0.18
    Swap $0.04 $0.05
    Volume Commissions n/a $0.06
    Total costs per USD 1000 of trading volume $0.30 $0.29
    Break-even gross return on a transaction 0.03% 0.029%

 

  • Cost Transparency Q1 2018
      Standard Account NDD Account ECN Account
    Spread $0.23 $0.10 $0.04
    Swap $0.04 $0.06 $0.10
    Volume Commissions n/a $0.06 $0.06
    Total costs per USD 1000 of trading volume $0.27 $0.22 $0.20
    Break-even gross return on a transaction 0.027% 0.022% 0.02%

 

  • Cost Transparency Q2 2018
      Standard Account NDD Account ECN Account
    Spread $0.17 $0.10 $0.38
    Swap $0.02 $0.08 $0.02
    Volume Commissions n/a $0.06 $0.07
    Total costs per USD 1000 of trading volume $0.19 $0.24 $0.47
    Break-even gross return on a transaction 0.019 0.024 0.047

 

  • Cost Transparency Q3 2018
      Standard Account NDD Account ECN Account
    Spread $0.20 $0.14 $0.25
    Swap $0.07 $0.05 $0.01
    Volume Commissions n/a $0.05 $0.07
    Total costs per USD 1000 of trading volume $0.27 $0.24 $0.33
    Break-even gross return on a transaction 0.027% 0.024% 0.033%

 

  • Cost Transparency Q4 2018
      Standard Account NDD Account ECN Account
    Spread $0.18 $0.13 $0.06
    Swap $0.03 $0.06 $0.02
    Volume Commissions n/a $0.06 $0.07
    Total costs per USD 1000 of trading volume $0.21 $0.25 $0.15
    Break-even gross return on a transaction 0.021% 0.025% 0.015%

 

  • Cost Transparency Q1 2019
      Standard Account NDD Account ECN Account
    Spread $0.19 $0.12 $0.05
    Swap $0.06 $0.06 $0.01
    Volume Commissions 0 $0.06 $0.08
    Total costs per USD 1000 of trading volume $0.25 $0.24 $0.14
    Break-even gross return on a transaction 0.025% 0.024% 0.014%

 

  • Cost Transparency Q2 2019
      Standard Account NDD Account ECN Account
    Spread $0.19 $0.16 $0.05
    Swap $0.07 $0.10 $0.08
    Volume Commissions 0 $0.06 $0.07
    Total costs per USD 1000 of trading volume $0.26 $0.34 $0.20
    Break-even gross return on a transaction 0.026% 0.034% 0.02%

 

Quality of Execution of Transactions

In accordance with the Law 87(I)/2017 and EU Regulation 2017/565, the Company is required to make public on an quarterly basis, for each financial instruments, per day, the execution quality achieved (RTS27). Such information will be published on the Company's website, and will be available in the public domain for a minimum period of two years.

 

 

 

 

 

 

 

 

 

Information on the top five execution venues and brokers

In accordance with the Law 87(I)/2017 and EU Regulation 2017/565, the Company is required to make public on an annual basis, for each class of financial instruments, the top five execution venues in terms of trading volumes where it executed client orders in the preceding year and information on the quality of execution obtained (RTS28). Similar information will be reported with respect to the top five investment firms (e.g. brokers) where the Company transmitted or placed client orders for execution in the preceding year. Such information will be published on the Company's website, and will be available in the public domain for a minimum period of two years

Pillar III Market Discipline and Disclosure Reports

TeleTrade publishes annual Pillar 3 reports in accordance with Part Eight of European Regulation (EU) 575/2013 ('Pillar III disclosures'), with the aim to encourage market discipline by allowing market participants to assess key pieces of information on risk exposures and the risk assessment processes of the Company. Pillar 3 provides disclosure of specified information about the underlying risk management controls and capital position, and is a part of the revised regulatory capital framework across Europe governing the amount and nature of capital investment that firms must maintain.

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Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.

© 2011-2019 TeleTrade-DJ International Consulting Ltd

TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

The content on this website is for information purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

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TeleTrade-DJ International Consulting Ltd currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime, and in selected 3rd countries. TeleTrade does not provide its services to residents or nationals of the USA.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.