General Information

Trade245 Is A Forex And CFD Broker Offering Trading Services For Forex, Indices, Commodities And Stocks. The Broker Is Registered In South Africa. It Offers The Popular MetaTrader4 (MT4) And MetaTrader5 (MT5) Trading Platforms. Trade245 Claims To Offer Competitive Spreads, Fast Execution, And A Variety Of Account Types And Educational Resources For Traders To Use. It Is Said To Be Authorised And Regulated By The Financial Sector Regulatory Authority Of South Africa (FSCA),

Pros And Cons

Trade245 Offers Multiple Advantages Such As A Wide Range Of Trading Tools, Multiple Account Types, And A User-friendly Trading Platform. However, There Are Also Disadvantages Such As Lack Of Regulation And Transparency. Traders Should Carefully Consider These Factors Before Deciding Whether To Trade With Trade245.

Advantages

• Offers A Wide Range Of Trading Tools, Transparency

• Offers Multiple Account Types To Choose From

• No Minimum Deposit Requirement

• Offers 24/5 Customer Support

• Offers Competitive Spreads And Zero Commissions

Disadvantages

• Lack Of Regulation And Transparency

• Does Not Accept Residents Of The United States, Canada, Israel And The Islamic Republic Of Iran

• Negative Reviews And Complaints From Some Users

P >

Regulatory Information

Trade245 Misled Its Regulatory Status By Claiming To Have A License From The Financial Industry Regulatory Authority (FSCA). However, Upon Investigation, It Was Found That The Regulated Entity Listed On The License, RED PINE C Application Programming Interface TAL (PTY) LTD, Was Not Affiliated In Any Way With The Trade245 Trading Brand. As A Result, Trade245 Illegally Used The Regulatory License To Mislead Unsuspecting Investors, Compromising The Transparency And Trust Of Financial Marekt.

Market Tools

The Financial Instruments Tradable On The Trade245 Platform Include Foreign Exchange Pairs, Indices, Stocks, And Commodity CFDs, Among Others. Many Other Brokers Can Even Offer Richer Tools Such As Precious Metals, Cryptocurrencies, Options And More.

Account

Trade245 Offers 7 Account Types For Different Trading Preferences And Strategies. Their Account Options Include:

Standard Account: This Account Has Spreads Starting From 1 Pip And Leverage Up To 1:500. This Account Type Comes With 100% Bonus Funds And Can Be Accessed Through The MT4 Platform.

No Interest Account: Similar To The Standard Account, Spreads Starting From 1 Pip And Leverage Up To 1:500 But Does Not Offer Any Bonus Funds. This Account Is Available On The MT4 Platform And Supports Interest-free Trading.

Zero Spread Account: As The Name Suggests, This Account Offers Variable Spreads Starting From 0 Pips With Leverage Capped At 1:500. No Bonus Is Offered And Trades Are Made Using The MT4 Platform.

245% Bonus Account: This Account Offers Variable Spreads Starting From 1 Pip With Leverage Up To 1:500. This Account Type Comes With A Generous Bonus Of 245% And Is Accessible Through The MT4 Platform.

Bonus Protected Account: Designed For Risk Management, This Account Has Spreads Starting From 1 Pip With Leverage Of 1:500. It Includes A 100% Bonus To Prevent Potential Retracements And Is Available On The MT4 Platform.

Micro Account: Tailored For Smaller Trade Sizes, This Account Offers Variable Spreads From 1 Pip And Leverage Up To 1:500. No Bonuses Are Available And Can Be Used On The MT4 And MT5 Platforms.

Copy Trading Account: This Account Supports Copy Trading And Spreads From 1 Pip And Leverage Up To 1:500. No Bonuses Are Available And Can Be Used On The MT4 Platform.

Leverage

All Account Types Offered By Trade245 Have Leverage Up To 1:500. This Means That Traders Can Increase Their Profits Or Losses Up To 500 Times Their Initial Investment. However, It Is Important To Note That High Leverage Also Increases The Risk Of Significant Losses. Therefore, It Is Essential That Traders Use Leverage Responsibly And Manage Risk Effectively Before Trading With Trade245 Or Other Brokers. Traders Should Also Ensure That They Understand The Risks And Implications Of Using High Leverage.

Spreads And Commissions

Trade245 Offers Variable Spreads With A Minimum Of 1 Pip (0 Pip For Zero Pip Accounts Except Zero Pip Accounts). Spreads May Vary Depending On The Trading Instrument, Account Type And Market Conditions. Trade245 Does Not Charge Any Commission. Instead, It Includes The Cost In The Spread. However, Zero Pip Account Types May Charge An Unspecified Commission Fee.

Trading Platform

Trade245 Provides Its Clients With The Popular And Widely Used MetaTrader4 (MT4) And MetaTrader5 (MT5) Trading Platforms. Both Platforms Are Available For Download And Use On Desktop, Mobile Devices, And Tablets. These Platforms Offer A User-friendly Interface, Advanced Charting Tools, And A Variety Of Technical Analysis Indicators. MT4 And MT5 Are Known For Their Fast Execution Speed, Reliable Order Execution, And A Range Of Trading Tools To Enhance The Trading Experience.

In Addition, These Platforms Support Automated Trading Through Expert Advisors (EAs) And Allow Traders To Customize Their Trading Strategies Using Their Preferred Programming Language.

Deposits And Withdrawals

Trade245 Offers Its Customers A Variety Of Deposit And Withdrawal Methods, Including Visa, MasterCard, MPESA, Ozow, Skrill, And Various Cryptocurrencies. There Is No Minimum Deposit Requirement. Trade245 Does Not Charge Any Deposit Fees.

Withdrawals Are Said To Be Processed Within A Few Hours, And Trade245 Does Not Charge Any Withdrawal Fees. However, Customers Should Be Aware That Some Payment Providers May Charge Fees For Their Services.

Fees

Trade245 Charges A Fee For Several Of The Following Services:

Overnight Funding Fee: Also Known As A Swap Fee, An Overnight Financing Fee Is Charged For Holding An Overnight Position. Fees Are Calculated Based On The Trading Instrument And Position Size.

Inactivity Fee: Trade245 Charges A Monthly Inactivity Fee Of $50 For Accounts That Have Been Inactive For 3 Consecutive Months Or More.

Deposit And Withdrawal Fee: Trade245 Does Not Charge Any Deposit And Withdrawal Fees. However, Third Parties May Charge Fees Depending On The Payment Method Used.

It Is Worth Noting That The Fees Charged By Trade245 May Vary Depending On The Type Of Account Opened And The Trading Platform Used. Before Opening An Account With Trade245, Be Sure To Read The Terms And Conditions Carefully To Have A Full Understanding Of The Fees Charged.

Client Server

Trade245 Offers 24/5 Customer Support Via Multiple Channels Such As Email And Phone. Their Website Also Features An FAQ Section Where Customers Can Find Answers. You Can Also Follow Them On Social Networks Such As Facebook And Instagram.

EDUCATION

Trade245 Offers A Number Of Educational Resources To Its Clients, Including A Glossary Of Commonly Used Trading Terms And Articles On Various Topics Related To Trading. These Resources Are Designed To Help Traders At All Levels Better Understand Financial Marekts And Improve Trading Skills. Overall, Trade245's Educational Resources Are Valuable Resources To Help Traders Improve Their Trading Performance And Achieve Their Financial Goals.

CONCLUSION

Overall, Trade245 Appears To Offer A Highly Competitive Trading Environment With Multiple Trading Tools, Multiple Account Types, And Popular Trading Platforms Including MT4 And MT5. However, Their FSCA License Is A Dubious Clone, Which Raises Some Concerns About The Legitimacy Of This Broker. Additionally, The Negative Reviews Of Withdrawal Difficulties By Some Users Are Also A Warning Sign. As With Any Broker, It Is Important To Conduct Thorough Research And Exercise Caution Before Investing Any Funds.