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Trade245 Review ☑️ Pros and Cons Revealed (2022)


Trade245

 

Overall, Trade245 can be summarised as a credible and trustworthy broker and is considered average-risk with competitive trading fees and spreads. Trade245 offers traders the MetaTrader suite of platforms as well as a basic web and mobile app.

 

Trade245 at a Glance

 

Broker’s Name Trade245
📍 Headquartered Johannesburg, South Africa
📅 Year Founded 2020
⚖️ Regulating Authorities FSCA
🌐 Countries not accepted for trade Not indicated
☪️ Islamic account (swap-free) Yes
👍 Demo Account Yes
📊 Institutional Accounts No
📊 Managed Accounts No
📈 Maximum Leverage 1:500
💰 Minimum Deposit $100 / R1683,52.
💳 Deposit Options · Visa/Mastercard
· Skrill

· MPesa

· Ozow

💳 Withdrawal Options · Visa/Mastercard
· Skrill

· MPesa

· Ozow

💻 Platform Types MetaTrader 4 and MetaTrader 5
📱 OS Compatibility Windows, Mobile, Web, iPhone, iPad
📈 Tradable assets offered Forex, Indices, Stocks, Commodities and Cryptocurrencies
👨‍💼 Languages supported on Website English Only
👥 Customer Support Languages English Only
📆 Customer Service Hours 24/5
🚀 Open an Account 👉 Click Here

 

 

In the fast-paced world of Forex trading, traders can use the broker’s ultra-low latency networks in order to open and close positions at the best time.

 

Trade245 Review – 22 key points quick overview:

 

  1. ✔️Trade245 at a Glance
  2. ✔️Trade245 Review – 22 key points quick overview:
  3. ✔️Trade245 Overview
  4. Trade245 Safety and Security
  5.  Trade245  Sign-up Bonus
  6. Trade245 Minimum Deposit
  7. Trade245 Step-by-step guide to depositing the minimum amount
  8. Trade245 Account Types
  9. Trade245 Account Features
  10. How to set up a Trade245 Demo Account – Step by Step
  11. Trade245 Islamic Account
  12. Trade245 Trading Platforms
  13. Trade245 Fees and Spreads
  14. Trade245 Deposits and Withdrawals
  15. Trade245 Best Countries by Traders
  16. Trade245 vs Etoro vs XM – Comparison Table
  17. Trade245 Current Popularity Trend
  18. Trade245 Customer Reviews
  19. Trade245 Pros and Cons
  20. Conclusion
  21. Disclaimer
  22. Frequently Asked Questions

 

Beginner traders are able to benefit from comprehensive training, free of charge, including a regular webinar series complemented by advanced trade analysis that will benefit both part-time beginner traders and advanced market investors.

 

 Trade245 Overview

 

Trade245 Overview

 

Since its recent establishment Trade245 has already experienced some impressive growth thanks to its strong offering which comes with a range of trade-enhancing services.

 

Using the broker’s advanced trading environment, traders are able to take advantage of tailored and customizable features in order to better meet their trading goals, particularly through the wide range of account types that serve a variety of different specific trading needs.

 

Both beginner and advanced traders will certainly appreciate the relatively low spreads, commission-free accounts, and ultra-fast execution across an impressive selection of trading instruments including FX pairs, indices, stocks, cryptocurrencies, and commodities CFDs.

 

Traders are provided full access to the market-leading MetaTrader4 and MetaTrader 5 platforms, as such, MetaQuotes is considered to be the most popular online trading platform to access the global markets, aimed at giving you the control to help you trade with speed, security, and reliability.

 

Both of the MetaTrader 4 platforms and their younger siblings are suitable for beginner or more advanced traders, which is one of the many reasons why they are considered today’s ultimate trading software platforms.

 

Based in South Africa, Trade245 is a fairly new online Forex broker launched in 2020 as a product of Red Pine Capital (PTY) LTD. The broker and its parent company are regulated by the Financial Sector Conduct Authority (FSCA) in South Africa.

 

Trade245 Safety and Security

 

Trade245 Safety and Security

 

Based in South Africa, Trade245 is owned and operated by Red Pine Capital (PTY) LTD. The broker and its parent company are regulated by the Financial Sector Conduct Authority (FSCA) in South Africa.

 

 Trade245  Sign-up Bonus

 

Trade245  Sign-up Bonus

 

Trade245 offers a sign-up bonus, also referred to as a welcome bonus, to every new trader that chooses to register for a real account with the broker.

 

As such, a deposit bonus will be applied to all deposits for the duration of this promotion. This bonus will be applied up to a cumulative maximum of R 285 000 on Bonus 100 and R50 000 on Bonus Rescue account, or equivalent currency per trading account.

 

 

Trade245 Minimum Deposit

 

Trade245 Minimum Deposit

 

The Trade245 minimum deposit amount to open a real trading account is $100 / R1683,52.

 

The Minimum Deposit for 1st-time traders might vary based on the trading account type selected. Deposit activation can be up to 72 hours.

 

It is also important to know that traders cannot deposit less than $5 / R84,18  into their accounts, which is a low cut-off amount.

 

The lack of a minimum deposit makes this broker an affordable option for many beginner traders.

 

Trade245 Step-by-step guide to depositing the minimum amount

 

📍 Funding your account with Trade245 consists of the following steps:

 

🔴Step 1 – Log in

  • Navigate to the Accounts portal on the broker’s website

 

Trade245 Step by step guide to depositing the minimum amount STEP 1

 

🔴Step 2 –Make the deposit

  • Click on “Fund Account”
  • Select your preferred deposit method
  • Specify the deposit amount
  • Confirm your deposit

 

Trade245 Step by step guide to depositing the minimum amount STEP 2

 

 

Trade245 Account Types

 

Trade245 Account Types

 

Trade245 offers an impressive selection of tailored account types, which currently include Bonus 100, Bonus Rescue, No Bonus, Swap Free, Zero Spread, Cent, and Weekend Trader Accounts.

 

However, interested traders should be aware that the available selection of accounts can be subject to continual change at the broker’s discretion, with some options, such as the Swap Free and Weekend Trader Account, only available for a limited time.

 

Trade245 Account Features

 

📍 Bonus 100 Account

➡️ Leverage: 1:500

➡️ Spread Types: Variable

➡️ Spreads: From 1 pip

➡️ Bonus: Included (100%)

➡️ Platform: MT4

 

Trade245 Account Features

 

📍 No Bonus Account

➡️ Leverage: 1:500

➡️ Spread Types: Variable

➡️ Spreads: From 1 pip

➡️ Bonus: Excluded

➡️ Platform: MT4

 

Trade245 Account Features

 

📍 Swap-Free Account

➡️ Leverage: 1:500

➡️ Spread Types: Variable

➡️ Spreads: From 1 pip

➡️ Bonus: Excluded

➡️ Platform: MT4

 

Trade245 Account Features

 

📍 Zero Spread Account

➡️ Leverage: 1:500

➡️ Spread Types: Variable

➡️ Spreads: From 0 pips

➡️ Bonus: Excluded

➡️ Platform: MT4

 

Trade245 Account Features

 

📍 Cent Account

➡️ Leverage: 1:500

➡️ Spread Types: Variable

➡️ Spreads: From 1 pip

➡️ Bonus: Excluded

➡️ Platform: MT4

 

Trade245 Account Features

 

📍 Weekend Traders Account

➡️ Leverage: 1:500

➡️ Spread Types: Variable

➡️ Spreads: From 1 pip

➡️ Bonus: Excluded

➡️ Platform: MT5

 

Trade245 Account Features

 

How to set up a Trade245 Demo Account – Step by Step

 

Yes, Trade245 offers a free demo trading account for beginner traders to train on. The Demo account interface is ideal for traders who want to learn to trade without incurring any trading risks or losses. Trade245 practices forex trading in a 100% risk-free environment.

📍 In order to open a demo account, prospective traders must first register with the broker. The registration process is fairly straightforward, consisting of the following steps:

 

🔴Step 1 – Open Your Account

  • Navigate to the registration portal on the broker’s website
  • Provide your full name and surname
  • Create and confirm a password that you will use to access your demo account, and possibly your live account in future
  • Indicate your country of residence
  • Read and accept the broker data security protocols, and validate that you are above the age of 18
  • Click “Proceed” in order to finalize the registration process and set up your demo account

 

How to set up a Trade245 Demo Account – Step by Step step 1

 

How to set up a Trade245 Demo Account – Step by Step step 1

 

 

Trade245 Islamic Account

 

Traders who choose to open an Islamic account will have full access to the highly popular MetaTrader 4 platform, with the ability to trade Forex, Futures, Indices, Equities, and other CFD transactions.

 

MetaTrader 4 is a feature-rich and flexible piece of trading software that will suit traders of all experience levels. Beginners will enjoy its user-friendly interface, while advanced traders will appreciate the charting features, technical analysis tools, and automated trading capabilities.

 

It is easy and straightforward to open an Islamic account with Trade245 and includes completing the client registration and upon acceptance of this registration, they can then elect to open an Islamic Account.

 

Unfortunately, the Islamic Account is only available for a limited period from the broker.

 

Also known as ‘no swap accounts’, Islamic trading accounts allow Muslims to engage in online forex trading in compliance with Sharia law.

 

With 25% of the world’s population practicing the Islamic faith, Islamic forex trading has continued to gain popularity worldwide.

 

Essentially, an Islamic forex trading account charges no swap or rollover interest on positions held overnight in the forex market. An administration fee is, however, charged on some accounts to open positions.

 

Trade245 Trading Platforms

 

Trade245 Trading Platforms

 

📍 Trading is provided on the ever-popular MetaTrader 4 platform, which will provide traders with the following multifunctional features:

➡️ Traders can analyze financial markets, perform advanced trading operations, run trading robots (Expert Advisors) and copy deals of other traders.

➡️ Three trade execution modes, including Instant Execution, as well as 2 market, 4 pending and 2 stop orders, and a trailing stop function.

➡️ Quick trading functions allow sending trading orders straight from the chart with one click.

➡️ The built-in tick chart feature provides an accurate method for determining entry and exit points.

➡️ 9 timeframes, allowing traders to see the price dynamics in detail

➡️ 30 built-in technical indicators and 24 graphic objects are available for the most comprehensive analysis of price dynamics

 

Trade245 Fees and Spreads

 

Trade245 Fees and Spreads

 

Clients can expect the following spread list from Trade245:

 

📍 Trade245 offers variable spreads for each of the seven accounts on offer, and these spreads are given on average as below:

➡️ Bonus 100 Account: spreads from 1 pip

➡️ Bonus Rescue Account: Spreads from 1 pip

➡️ No Bonus Account: Spreads from 1 pip

➡️ Swap-Free Account: Spreads from 1 pip

➡️ Zero Spread Account: Spreads from 0 pips

➡️ Cent Account: Spreads from 1 pip

➡️ Weekend Trader: Spreads from 1 pip

 

While these spreads are not as competitive as those offered by many other brokers in the industry, the broker does also make a spread-free account available.

 

Commissions are charged on specific accounts, though the broker does not indicate which accounts these are. Nevertheless, where a commission is charged it is done so at $10 per lot.

 

Trade245 Deposits and Withdrawals

 

Trade245 Deposits and Withdrawals

 

A minimum deposit amount is not required in order to register for a broker account with Trade245. That said, the broker does go on to recommend that traders ensure that they make a minimum deposit of at least $100 into their account in order to be able to enjoy flexible and profitable trades.

 

It is also important to know that traders cannot deposit less than $5 into their accounts, which is a low cut-off amount.

 

The lack of a minimum deposit makes this broker an affordable option for many beginner traders.

 

📍Trade245 offers the following widely used online deposit and withdrawal methods:

💳 Visa/Mastercard

💳 Skrill

💳 MPesa

💳 Ozow

 

There are only three accepted deposit currencies: ZAR/Rand, GBP, and USD. Traders depositing in currencies not included above will have to incur conversion fees.

 

Deposits made through the client dashboard/portal are processed immediately. In the unlikely event that a deposit does not reflect directly, clients have the option to contact the broker’s support team who will be able to fix the error.

 

Withdrawals for approved client accounts are processed regularly and typically reflected within a few hours when banking with FNB in South Africa. Other banks could take up to 24 hours to reflect. There are no limitations on withdrawal amounts.

 

Regarding deposit security, traders can rest assured that their funds are safe as Trade245 is a product of Red Pine Capital (PTY) LTD, Johannesburg, South Africa, with company number 2014/220311/07 an authorized financial services provider.

 

The broker is licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, with FSP No. 46044.

 

As part of the requirements of this regulation, client funds are held in segregated accounts and therefore cannot be used for any corporate expenses.

 

Added to this, the broker offers negative balance protection, a mechanism that means clients are not liable for an account that has a negative balance, as this protection is enabled to correct clients’ accounts to zero automatically.

 

Trade245 Best Countries by Traders

 

🌎 Country of Trade 📌 % of Traders
🥇South Africa 91.88%
🥈Rwanda 4.55%
🥉Namibia 2.18%
🥈India 0.97%
🥇 Singapore 0.41%

 

Trade245 Best Countries by Traders

 

Trade245 vs Etoro vs XM – Comparison Table

 

🔎 Broker 🥇Trade245 🥈 eToro 🥉 XM
💰 Minimum Deposit $100 / R1683,52. $1000 USD $5 USD
📝 Sign-Up Bonus ☑️ Yes ☑️ Yes ☑️ Yes
➕ Max. Leverage 1:500 1:400 1:888
💵 Currency Pairs 47 57
🚀 Open an Account 👉 Click Here 👉 Click Here 👉 Click Here

 

Trade245 Current Popularity Trend

 

As According to Google Trends, here is an overview of how frequently the search term – “Trade245” is entered into Google’s search engine over a given period of time.

 

 

Trade245 Customer Reviews

 

What I like about them as soon as you…

What I like about them is as soon as you make a withdrawal you get your money as it is no stories keep up the good work guys

Trade245 Customer Care

 

Trade245 Pros and Cons

 

✔️ Pros ❌ Cons
Requires no minimum deposit Limited market instruments and products
No deposit or withdrawal fees Customer support is limited
Welcome bonus Commission could be more competitive
Offers a transparent cost structure Spreads could be tighter
Low spreads

 

Conclusion

 

Overall, Trade245 can be summarised as a credible and trustworthy broker and is considered average-risk with competitive trading fees and spreads. Trade245 offers traders the MetaTrader suite of platforms as well as a basic web and mobile app.

 

You might also like: Trade245 Account Types Overview

You might also like: Trade245 Demo Account

You might also like: Trade245 Fees and Spreads

You might also like: Trade245 Islamic Account Overview

You might also like: Trade245 Minimum Deposit

You might also like: Trade245 Sign-up Bonus

 

Disclaimer

 

TRADE245 warns potential customers that Forex and CFDs trading carries a substantial risk and may not be suitable for all investors.

 

Before deciding to trade with TRADE245, potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.

 

TRADE245 warns that margin trading involves the potential for profit as well as the risk of loss.

 

Movements in the price of foreign exchange and commodities are very unpredictable, hence TRADE245 cannot guarantee a maximum loss that a trader may suffer.

 

 

Frequently Asked Questions

 

Is Trade245 a fake or a scam?

Trade245 cannot be regarded as fake or a scam as this broker adheres to the strict regulation of the FSCA (Financial Services Conduct Authority) in South Africa

 

Which platforms are supported by Trade245?

Trade245 supports the MetaTrader 4 and MetaTrader 5.

 

What are the advantages of trading with Trade245 Broker?

Using the broker’s advanced trading environment, traders are able to take advantage of tailored and customizable features in order to better

 

What type of broker is Trade245 Broker?

Based in South Africa, Trade245 is a fairly new online Forex broker launched in 2020 as a product of Red Pine Capital (PTY) LTD. The broker and its parent company are regulated by the Financial Sector Conduct Authority (FSCA) in South Africa.

 

What is the overall rating out of 10 for Trade245?

8/10.





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