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Cellular traffic prediction is of great importance on the path of enabling 5G mobile networks to perform intelligent and efficient infrastructure planning and management. However, available data are limited to base station logging information. Hence, training methods for generating high-quality predictions that can generalize to new observations across diverse parties are in demand. Traditional approaches require collecting measurements from multiple base stations, transmitting them to a central entity and conducting machine learning operations using the acquire data. The dissemination of local observations raises concerns regarding confidentiality and performance, which impede the applicability of machine learning techniques. Although various distributed learning methods have been proposed to address this issue, their application to traffic prediction remains highly unexplored. In this work, we investigate the efficacy of federated learning applied to raw base station LTE data for time-series forecasting. We evaluate one-step predictions using five different neural network architectures trained with a federated setting on non-identically distributed data. Our results show that the learning architectures adapted to the federated setting yield equivalent prediction error to the centralized setting. In addition, preprocessing techniques on base stations enhance forecasting accuracy, while advanced federated aggregators do not surpass simpler approaches. Simulations considering the environmental impact suggest that federated learning holds the potential for reducing carbon emissions and energy consumption. Finally, we consider a large-scale scenario with synthetic data and demonstrate that federated learning reduces the computational and communication costs compared to centralized settings.