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Trade245 is a regulated broker based in South Africa that offers a wide range of investment opportunities across forex, CFDs and more. While it is a reputable platform, there are a few areas of concern worth noting.
In this Trade245 broker review, we will delve into the platform’s distinguishing features, pros and cons, account types, and deposit and withdrawal methods, and will wind up by reviewing their customer support and educational resources.
So, let’s get started with this comprehensive Trade245 broker review and uncover the opportunities that await!
|Headquarter||Cape Town, South Africa|
|Year of Foundation||2014|
|Supported Platforms||MT4, MT5|
|Cryptocurrencies||BTC, ETH, XRP|
|Instruments||Forex, Commodities, Indices, Stocks, Cryptocurrencies, CFD|
|Free Demo Account||Yes|
|Accepts US Clients||No|
|Spreads||From 0 pip|
If you are looking for a broker offering low spreads, a wide range of instruments, and advanced trading platforms, then Trade245 is a good option to consider.
With various account types available, Trade245 caters to traders of all levels. Its commitment to excellence, backed by regulatory compliance, makes it an appealing choice for those seeking a reliable and rewarding forex trading journey.
Here are some additional reasons why you might want to trade on Trade245:
Trade245 is a highly trustworthy forex broker regulated by the esteemed Financial Conduct Authority (FCA), a top-tier financial regulator renowned for its stringent standards. This regulation provides traders with the utmost assurance that their funds are protected in safe hands. Rest assured, the company’s transparency norms and strong regulatory compliance ensure a reliable trading environment for customers.
Trade245 offers four different account types:
This account type offers a 100% bonus on your first deposit. The minimum deposit is $250.
This account type does not offer a bonus. The minimum deposit is $250.
This account type does not charge swap fees. The minimum deposit is $500.
This account type offers zero spreads on some currency pairs. Moreover, the minimum deposit for this kind of account is $1000.
The platform also offers an Islamic Account with full access to MetaTrader 4 platform. However, doing this Trade245 broker review, we discovered that it is only available for a limited period of time.
|Account Type||Minimum Deposit||Bonus||Swap Fees||Spreads|
Trade245 offers a variety of deposit methods, including:
You can deposit funds directly into your Trade245 account using a VISA or Mastercard.
You can also deposit funds into your Trade245 account using your Skrill e-wallet.
Neteller is an e-wallet to send and receive funds. You can deposit funds into your Trade245 account using your Neteller account.
MPesa is a mobile money service, very popular in Africa. You can deposit funds into your Trade245 account using your MPesa account.
Ozow is a South African payment method that allows you to deposit funds into your Trade245 account using your bank account.
To add money to your Trade245 account, simply log in and access the “Fund Account” section. From there, choose your preferred deposit method and specify the desired amount. Once you confirm, the funds will be credited to your account.
During this Trade245 broker review, we found that Trade245 only supports Bitcoin withdrawals, with a minimum withdrawal amount of 0.0001 BTC. The best part is they don’t charge any withdrawal fees.
However, to initiate a withdrawal, locate the “Withdraw Funds” section. There, specify the desired withdrawal limit and enter your Bitcoin address. Following the withdrawal request, the funds will be transferred to your BTC address within a day.
Trade245 offers a wide range of tradable markets, including:
Trade245 offers over 50 currency pairs, including majors, minors, and exotics.
The platform enables you to trade from over 20 indices, like the S&P 500, the DAX 30, Nikkei 225 and more.
Trade245 offers over 100 stocks, including Apple, Amazon, and Tesla.
Trade245 offers over 10 commodities, including gold, oil, and silver.
The website offers over 20 cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
|Trading instrument||Minimum trade size||Leverage|
|Forex pairs||0.01 lots||1:500|
Trade245’s spreads are some of the lowest in the industry, starting at 0.0 pips for major currency pairs.
Trade245 charges commissions on some account types, starting at $10 per lot.
Trade245 charges swap fees on overnight positions, starting at 5% per annum for indices and 2.5% for commodities and cryptocurrencies.
Trade245 does not charge any fees for depositing or withdrawing funds.
|Spreads||Trading||Starting from 0.0 pips|
|Commissions||Trading||Starting from $10 per lot|
|Swap fees||Overnight positions||Starting from 5% per annum|
This account type offers spreads from 0.0 pips on major currency pairs.
This account type offers spreads from 1.0 pips on major currency pairs.
This account type offers spreads from 1.0 pips on major currency pairs.
This account type offers spreads from 1.0 pips on major currency pairs and levies any swap fees.
This account type offers spreads from 0.1 pips on major currency pairs but is only available for trading in cents.
Our comprehensive Trade245 broker review found that the platform charges swap fees on overnight positions, starting at 5% p.a. for indices and 2.5% p.a. for cryptocurrencies and commodities.
Trade245 offers a swap-free account, which does not charge swap fees.
Swap fees are calculated on the difference in interest rates between the two currencies in any currency pair.
You can avoid swap fees by closing your positions before the end of the trading day, by using a swap-free account, or by trading in a currency pair with a low-interest rate differential.
|Trading Instrument||Swap Fee|
|Indices||5% per annum|
|Commodities||2.5% per annum|
|Cryptocurrencies||2.5% per annum|
Trade245 offers MetaTrader 4 (MT4) as its trading platform. MT4 is a popular platform that traders of all experience levels use. It is known for its best-in-class UI, advanced charting features, technical analysis tools, and automated trading options.
Trade245 WebTrader is a web-based trading platform to trade forex, indices, commodities, and even crypto. To be clear, we found it perfect for beginners.
Trade245 offers a variety of tools to help traders make informed decisions and enhance their trading skills. These tools include:
MT4 is a trading platform for both novice and experienced traders. It is known for its extensive UI, technical analysis tools, advanced charting and automated trading features.
Trade245 WebTrader lets you trade best-in-class financial assets like foreign exchange, indices, commodities, and crypto. Overall, it is easy to use and basic, making it a great pick for beginners.
Trade245 does not offer 24/7 customer support. Though the support is provided through channels like
Email: You can send an email to Trade245’s customer support team.
Phone: You can call Trade245’s customer support team.
+27(0)87 828 8245
What we liked about Customer Support is:
What we don’t like about Customer Support:
Trade245 is committed to excellence, backed by FSCA and FSA regulations, and a reliable trading environment for its clients. It provides various account types, competitive spreads, and high leverage on financial instruments. However, some areas of concern exist, such as limited trading products, not offering 24/7 customer support, and the lack of comprehensive educational resources. Traders need to consider these aspects before choosing Trade245 as their preferred broker.
Tarde245 requires no deposit for opening account.
Yes, Trade245 allows trading with NASDAQ 100.
Unfortunately, Trade245 does not support trading with R20. But you can trade on other assets like DAX 30, Nikkei 225, NASDAQ 100 AND S&P 500.
Yes, Trade245 is trustworthy with a good platform rating and customer reviews. It is alos regulated and authorised under FSCA.
Although Trade245 is not against scalping, it does not have efficient tools to perform scalping with. You should consider other platforms for scalping
Bonus 100 on Trade245 is a type of account that offers a 100% deposit bonus to traders who open and fund it.
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