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Trade245 Review

Trade245
Trade245

Trade245 Review

71% of retail investor accounts lose money, …

Trade245

Trade245

0.0
Rated 0.0 out of 5

Overview

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!

Quick Glance

Regulation FSCA, FSA
Headquarter Cape Town, South Africa
Year of Foundation 2014
Supported Platforms MT4, MT5
Minimum Deposit $100
Cryptocurrencies BTC, ETH, XRP
Instruments Forex, Commodities, Indices, Stocks, Cryptocurrencies, CFD
Maximum Leverage 1:500
Free Demo Account Yes
Accepts US Clients No
Spreads From 0 pip

Should You Consider Trade245 For Your Forex Journey?

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:

  • The platform is designed to offer a pure trading experience with extra control.
  • The account balance protection feature ensures you never lose more money than you have deposited.
  • You can join the affiliate program to grow your business and benefit from high client satisfaction and retention rates.
  • An efficient withdrawal process allows for easy processing and approval of withdrawals.
  • Trade in multiple currencies, including ZAR, USD, and GBP, giving extra flexibility in your trading activities.
  • Trade245 is built on a cloud-based world-scale infrastructure with robust security measures, ensuring your data and transactions are safe and compliant.
  • The upcoming synthetic index within the MT5 platform is set to offer a variety of pairs, including Volatility75, even during weekends.

Is Trade245 A Scam?

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.

Our recommendation: Trading at Trade245 Review

  • Regulated by top bodies like FSCA
  • High leverage on all financial assets
  • Variety of account types
Trade245

Advantages and disadvantages of Trade245 Review

  • Account base currencies in ZAR, USD, and GBP
  • The minimum deposit amount is $100
  • Competitive pricing
  • Various account types
  • FSCA, FSP regulation and oversight
  • Availability of cent accounts
  • Protection against a negative balance
  • High leverage on all financial instruments
  • MT4 and MT5 trading platforms
  • Variety of educational resources, including webinars and articles
  • Conditions might vary based on the entity
  • Limited trading products
  • No 24/7 customer support
  • Narrow floating spreads on par with competitors
  • No online chat for support with customer care

Accounts

Trade245 offers four different account types:

1. Bonus 100 Account

This account type offers a 100% bonus on your first deposit. The minimum deposit is $250.

2. No Bonus Account

This account type does not offer a bonus. The minimum deposit is $250.

3. Swap Free Account

This account type does not charge swap fees. The minimum deposit is $500.

4. Zero Spread Account

This account type offers zero spreads on some currency pairs. Moreover, the minimum deposit for this kind of account is $1000.

Islamic Account

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
Bonus 100 $250 100% Yes Variable
No Bonus $250 None Yes Variable
Swap Free $500 None No Variable
Zero Spread $1000 None No Zero

Trade245 Broker Review 2023: Deposits, Withdrawals & Security

Deposit Methods

Trade245 offers a variety of deposit methods, including:

Credit/Debit Cards

You can deposit funds directly into your Trade245 account using a VISA or Mastercard.

Skrill

You can also deposit funds into your Trade245 account using your Skrill e-wallet.

Neteller

Neteller is an e-wallet to send and receive funds. You can deposit funds into your Trade245 account using your Neteller account.

MPesa

MPesa is a mobile money service, very popular in Africa. You can deposit funds into your Trade245 account using your MPesa account.

Ozow

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.

Withdrawal Methods

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.

Our recommendation: Trading at Trade245 Review

  • Regulated by top bodies like FSCA
  • High leverage on all financial assets
  • Variety of account types
Trade245

Tradable Markets At Trade245

Trade245 offers a wide range of tradable markets, including:

Forex pairs

Trade245 offers over 50 currency pairs, including majors, minors, and exotics.

Indices

The platform enables you to trade from over 20 indices, like the S&P 500, the DAX 30, Nikkei 225 and more.

Stocks

Trade245 offers over 100 stocks, including Apple, Amazon, and Tesla.

Commodities

Trade245 offers over 10 commodities, including gold, oil, and silver.

Cryptocurrencies

The trade245 website offers over 20 cryptocurrencies like Bitcoin, Ethereum, and Litecoin.

Trading instrument Minimum trade size Leverage
Forex pairs 0.01 lots 1:500
Indices 0.1 lots 1:200
Stocks 1 share 1:100
Commodities 1 lot 1:100
Cryptocurrencies 0.001 BTC 1:500

Leverage Information

  • Maximum leverage: 1:500
  • Minimum deposit: $250
  • Available account types: Bonus 100, No Bonus, Swap Free, Zero Spread
  • Spreads: Variable, from 1 pip
  • Platforms: MT4

Fees Information For Traders

Spreads

Trade245’s spreads are some of the lowest in the industry, starting at 0.0 pips for major currency pairs.

Commissions

Trade245 charges commissions on some account types, starting at $10 per lot.

Swap fees

Trade245 charges swap fees on overnight positions, starting at 5% per annum for indices and 2.5% for commodities and cryptocurrencies.

Deposit and Withdrawal Fees

Trade245 does not charge any fees for depositing or withdrawing funds.

Fee Type Amount
Spreads Trading Starting from 0.0 pips
Commissions Trading Starting from $10 per lot
Swap fees Overnight positions Starting from 5% per annum
Deposit fees None None
Withdrawal fees None None

Spreads Information

Zero Spread Account

This account type offers spreads from 0.0 pips on major currency pairs.

Bonus 100 Account

This account type offers spreads from 1.0 pips on major currency pairs.

No Bonus Account

This account type offers spreads from 1.0 pips on major currency pairs.

Swap Free Account

This account type offers spreads from 1.0 pips on major currency pairs and levies any swap fees.

Cent Account

This account type offers spreads from 0.1 pips on major currency pairs but is only available for trading in cents.

Swap Fee Information

Swap fees

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.

Swap-free accounts

Trade245 offers a swap-free account, which does not charge swap fees.

How are swap fees calculated?

Swap fees are calculated on the difference in interest rates between the two currencies in any currency pair.

How to avoid swap fees?

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

Read Also: Botbro Review

Trading Platforms

1. Trade245 MT4

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.

Benefits of using MT4 with Trade245

  • Trade245 MT4 offers a wide range of markets for forex, indices, commodities, and cryptocurrencies.
  • The spreads are competitive, which means that you can trade with lower costs.
  • MT4 comes with advanced charting features to analyze the market and ultimately make better trading decisions.
  • Not only this, it even supports automated trading to drive more efficiency.

2. Trade245 WebTrader

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.

Benefits of using Trade245 WebTrader

  • You can access Trade245 WebTrader from any device with an internet connection.
  • It features a simple UI that is perfect for beginners.
  • Trade245 offers competitive spreads and even provides advanced charting features to make better trading decisions.

Tools

Trade245 offers a variety of tools to help traders make informed decisions and enhance their trading skills. These tools include:

MetaTrader 4

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.

WebTrader

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.

Company Details

Assets

  • Currency pairs
  • trading CFDs on stocks
  • commodities
  • indices
  • metals
  • cryptocurrencies

Basics

  • Country: South Africa
  • Registration number: 2020/539887/07
  • Regulation- FSCA

Customer Service

Our recommendation: Trading at Trade245 Review

  • Regulated by top bodies like FSCA
  • High leverage on all financial assets
  • Variety of account types
Trade245

Customer Support

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.

[email protected]

Phone: You can call Trade245’s customer support team.

+27(0)87 828 8245

What we liked about Customer Support is:

  • Multiple channels: Trade245 offers customer support through multiple channels, so you can choose the channel that is most convenient for you.
  • Knowledgeable staff: Trade245’s customer support team is knowledgeable about the trading industry, and they are able to answer your questions in a clear and concise way.
  • Responsive: Trade245’s customer support team is responsive, and they are able to resolve issues quickly and effectively.

What we don’t like about Customer Support:

  • No 24/7 Availability: They are not available 24/7

Closing Remarks

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.

Trade245 supports quick and easy withdrawals to ease your trading journey. The withdrawal can take up to 24 hours to reflect.

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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