TELA is a forex broker established on May 9, 2013, registered in Hong Kong. It primarily provides financial trading services such as forex, commodities, and contracts for difference (CFDs) to investors, with its corporate headquarters located in Guangzhou, China. The broker refrains from offering services to jurisdictions where it may violate local laws or regulations, including but not limited to the United States, Singapore, Hong Kong, North Korea, and Iran.
Corporate Registration Information and Regulatory Status:
The broker operates under two registered corporate entities, each managing a distinct website.
In Hong Kong, TELA operates under the entity TELA GROUP LIMITED, known in Chinese as 騰利達集團有限公司, formerly named HONGKONG TOOPTIONS LIMITED (香港通達二元有限公司). The registered address is FLAT/RM 917A, BLK A 9/F NEW MANDARIN PLAZA, NO.14 SCIENCE MUSEUM ROAD TSIMSHASUI, KL, HONG KONG, with the registration number 1904779. The website operated by TELA GROUP LIMITED is https://www.telaforex.vip, and it does not disclose regulatory information. Upon investigation, this entity is found to lack authorization from any official financial regulatory authority in any jurisdiction.
In Canada, TELA operates under the registered entity TELA MARKET LIMITED, established on December 20, 2021. The registered address is XI CHENG 8520 Leslie Street, Suite 105 Richmond Hill ON L4B 3H6 Canada, with registration number 1361068-3. This entity obtained an MSB license from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) on December 24, 2021, with license number M21349412. The website operated by TELA MARKET LIMITED is http://www.telafx.com, registered on April 24, 2023. The website claims that TELA MARKET LIMITED is registered in London, UK, and entered the Chinese market in 2014.
It's important to note that the MSB license issued by FINTRAC is not a forex broker license and does not regulate financial derivatives trading, such as forex.
Account Opening:
To open an account with TELA, users need to visit its official website, click on "CRM Login" in the upper right corner to access the registration page. Fill in the email address, set a login password, and click "Get Verification Code." TELA will send a verification code to the user's email. After entering the code and clicking "Next," users complete the profile by providing their name, gender, residential address, phone number, and uploading identification documents such as ID or passport. In the next step, users choose the account type and trading leverage, then submit for review.
Account Information:
TELA does not disclose information about account types, trading leverage, spreads, minimum deposit amounts, maximum/minimum trade volumes, maximum position sizes, additional margin levels, stop-loss margin levels, overnight interest, trading commissions, and other account details.
Trading Platform:
TELA provides the MT4 trading platform to users, available on both desktop and mobile, with servers provided by TELA GROUP LIMITED.
Deposits and Withdrawals:
The broker's official website does not disclose supported deposit and withdrawal methods.
Customer Support:
Users can contact TELA's customer support through phone at +86 020 84884652 and email at sales@telaforex.vip.
Summary:
Traderknows advises investors that TELA is an unregulated forex platform with misleading advertising. Investors are cautioned to steer clear of this broker and choose platforms that are transparent, legally regulated, and have a good reputation to avoid unnecessary financial losses. Currently, TELA is marked as "suspected of fraud" on Traderknows.
