Trade 245 Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $100
- MetaTrader4
- MetaTrader5
- 2016
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $100
- MetaTrader4
- MetaTrader5
- 2016
Our Evaluation of Trade245
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Trade245 is a high-risk broker with the TU Overall Score of 2.35 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Trade245 clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker. Trade245 ranks 376 among 413 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.
Trade245 is a Forex broker that provides a variety of accounts for trading with both clients’ own and borrowed funds via MetaTrader terminals.
Brief Look at Trade245
Trade245 is a brokerage company that was founded in 2020. It operates under a license granted by the FSCA, the most reputable regulator in South Africa. The set of assets available for trading includes Forex and CFDs for various classes such as stocks, metals, commodities, cryptocurrencies, and stock indices. Trade245 provides the MetaTrader 4 and 5 platforms, leverage of 1:500, and accounts for various trading needs. The company stores client deposits in segregated bank accounts, transfers liquidity from Tier 1 suppliers, and executes orders moderately fast.
- Works under the license of a reputable financial regulator.
- Availability of training and cent accounts.
- Narrow floating spreads are on par with its competitors.
- Protection against a negative balance on all types of accounts.
- High leverage on all financial instruments.
- Provision of MT4 and MT5 trading terminals.
- Free education webinars and articles on the website.
- The minimum deposit amount is $100, including cent accounts specifically for beginners.
- No online chat for quick communication with technical support.
- Deposit bonuses are awarded only for one account type.
TU Expert Advice
Financial expert and analyst at Traders Union
Trade245 is a fresh brokerage company from South Africa that serves traders worldwide. It offers trading CFDs on currencies, indices, stocks, metals, and raw materials with leverage. Clients are provided with the MetaTrader platforms, which can be used not only for active trading but also for algorithmic and automated trading activities.
Trade245 is regulated by the South African Financial Sector Conduct Authority (FSCA), which does not impose strict requirements on the available leverage and does not limit the choice of payment methods. So, traders can use borrowed funds in the amount of up to 1:500, or make deposits and withdrawals using electronic wallets and cryptocurrencies. All types of accounts have negative balance protection, so the client cannot lose more than what they invested, even when trading with leverage.
Trade245 offers cent, standard, and professional accounts with zero spreads, so it may be of interest to traders with various levels of trading experience and knowledge. The initial deposit is $100, but in the future, the client will be able to deposit in the amount of 5 USD or 95 ZAR. If a trader prefers transactions in cryptocurrencies, then there is an opportunity to deposit an amount from $60 in a digital equivalent.
- You prioritize tight spreads and commission-based structures. Trade245 advertises low minimum deposits and commission-based accounts, making it potentially appealing to cost-conscious traders.
- You want a wide range of tradable assets. Trade245 offers access to forex, shares, indices, metals, and CFDs, providing diversification options for your trading portfolio.
- You prefer the MetaTrader 4 platform. Trade245 utilizes this popular platform, which is familiar to many experienced traders and offers a user-friendly and feature-rich trading environment.
- You value strong regulatory oversight. The lack of regulation by a major financial authority raises concerns about potential security, protection, and oversight
- You are new to trading or risk-averse. CFDs (Contracts for Difference) involve high risks due to leverage and are not suitable for all investors. If you are new to trading or prefer lower-risk instruments, you might want to consider alternative investment options.
Trade245 Summary
| 💻 Trading platform: | MetaTrader 4, MetaTrader 5 |
|---|---|
| 📊 Accounts: | Demo, cent, VIX 75, zero-spread, Bonus 100, No Bonus, and swap-free |
| 💰 Account currency: | USD, GBP, ZAR, and USC |
| 💵 Replenishment / Withdrawal: | Bank transfer, SWIFT, e-wallet, debit/credit cards, electronic money transfers, Skrill, Neteller, M-Pesa, Ozow, and crypto |
| 🚀 Minimum deposit: | 100 USD |
| ⚖️ Leverage: | Up to 1:500 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | From 0 pip |
| 🔧 Instruments: | Currency pairs, trading CFDs on stocks, commodities, indices, metals, cryptocurrencies |
| 💹 Margin Call / Stop Out: | 100%/30% |
| 🏛 Liquidity provider: | Tier 1 global liquidity providers |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market execution |
| ⭐ Trading features: | Algorithmic and social trading are allowed |
| 🎁 Contests and bonuses: | Deposit bonus |
Trade245 provides CFD trading in currencies, stocks, indices, commodities, and cryptocurrencies. The deposit can be made both in fiat money and in cryptocurrencies. Accounts with narrow floating spreads are available, including a zero-spread account with near-zero spreads. Muslim traders can trade using Islamic swap-free accounts without a fee for transferring a position to the next day.
Trade245 Key Parameters Evaluation
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Trading Account Opening
If you plan to start Forex trading through Trade245, then you need to create a user account. It is possible to open an account, pass verification and download a trading terminal from there. A quick guide to creating a user account:
Go to the main page of the Trade245 website. Scroll down a little and you will see the registration form. Enter your name and surname, email address, and select the country you live in. Also, come up with a password to protect your user account and enter it into the form. Confirm that you are over 18 years of age and click the "Register now" button.
Now you have an account with Trade245, but it still needs to be confirmed. The broker will send an email with a confirmation link right after you complete the registration form.
Find the email from Trade245 in the inbox. If the message is not received from the broker, check your "Spam" folder. If there is still no message, make sure that the mailbox is not overfilled and active.
After clicking on the link in the message, the system will redirect you to the main page of the Trade245 website. Click the "Login" button to log into your user account. Enter your email address and login password.
First steps after creating a Trade245 user account:
Buttons and features of your user account:
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Dashboard. This section is used to create new accounts, and view news and quotes.
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My Profile. Using this section, you can change or add personal and financial details, or link a bank account.
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My Wallet. This is a section for making payments, containing such functions as making deposits, transferring funds between open accounts, and submitting a withdrawal request.
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Trading accounts. This section shows trading statistics for open accounts.
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MetaTrader. This section contains installation files for MT4 and MT5 desktop terminals.
Regulation and safety
It is known that Trade245 is managed by Red Pine Capital (PTY) Ltd, an authorized financial services provider (FSP No. 46044). The broker is based in Johannesburg, South Africa, and is regulated by the Financial Sector Conduct Authority (FSCA).
The regulator monitors the activities and financial indicators of Trade245. Its clients' deposits are stored in segregated bank accounts, which means the funds will be safe because the brokerage company cannot use them to pay off corporate expenses.
Advantages
- All accounts include negative balance protection
- Traders' funds are separated from the company's capital
- FSCA allows trading with high leverage and use of e-wallets and cryptocurrencies for payments
Disadvantages
- Unverified users cannot open a trading account
- The broker is not a member of a compensation fund
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Spreads | From $0 | Withheld by banks and EPSs |
| Cent | From $0.01 | Withheld by banks and EPSs |
| Bonus 100 | From $10 | Withheld by banks and EPSs |
| No Bonus | From $10 | Withheld by banks and EPSs |
| VIX 75 | From $10 | Withheld by banks and EPSs |
| Swap-free | From $10 | Withheld by banks and EPSs |
On all types of accounts, except the swap-free account, there is a fee for transferring an open order to the next trading day.
Analysts at the Traders Union calculated the average trading fee at Trade245, Forex4you, and RoboForex, and then compared the obtained values. The table below shows the most favorable trading conditions among the brokers.
| Broker | Average commission | Level |
|---|---|---|
|
$6.7 | |
|
$1 | |
|
$8.5 |
Account types
Trade245 offers a choice of six types of accounts. All have variable spreads and allow trading with leverage up to 1:500. Trade245 clients can have an unlimited number of accounts.
Account types:
The broker's clients can create an unlimited number of demo accounts on MT4 and MT5 platforms.
Trade245 has adapted the conditions of accounts for various groups of traders, which allows both beginners and professionals to trade Forex comfortably.
Deposit and Withdrawal
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Client withdrawal requests are processed within a few hours.
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The broker does not charge fees for deposits or withdrawals.
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Funds can be withdrawn to a bank account, e-wallets, or cards.
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Withdrawals in cryptocurrencies are also available.
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If the client requests a transfer to a card, the broker returns the same amount that was deposited in this way. When requesting a larger amount, the difference is transferred to a bank account.
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If a bank transfer is selected as the withdrawal method, the term of receiving funds depends on the selected financial institution. The money is credited to the First National Bank account within a few hours, and to accounts in other banks within 1-5 business days.
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The broker does not withdraw funds to accounts of third parties.
Investment Options
Trade245 does not provide investment services such as PAMM or MAM accounts, or pre-made asset portfolios. However, traders are provided with MetaTrader terminals. To receive passive income, you can use their standard features such as transaction copying services, algorithmic trading, and auto-trading using expert advisors.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Trade245’s affiliate program
The company offers a partnership in the form of Introducing Broker. The Introducing Broker receives a rebate fee from Trade245 for the trading activity of connected clients. The amount of remuneration is not specified on the website and is discussed individually.
Customer support
Traders can ask their questions to the support service at any time, as operators work around the clock. However, this can be done only 5 days a week, from Monday to Friday.
Advantages
- Representatives of the broker actively answer questions from users on Instagram
- Email responses are provided within 1-2 hours
Disadvantages
- Saturday and Sunday are days off
- There is no online chat
- Few communication channels
This broker provides the following communication channels for its clients:
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phone call;
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email.
The brokerage company has profiles on Instagram and Facebook.
Contacts
| Foundation date | 2016 |
|---|---|
| Registration address | Red Pine Capital (PTY) Ltd, St Andrews Office Park Block A, 39 Wordsworth Avenue, Senderwood, Gauteng, 2007, South Africa |
| Official site | https://www.trade245.com/ |
| Contacts |
Education
The Education section of the Trade245 website is intended especially for novice traders. It contains several sections containing educational materials on Forex trading. The broker also regularly conducts webinars and offers trading analysis.
After studying the theory, you need to consolidate it in practice. The best way to do this is to open a demo account. You can use it to practice trading with virtual money. Thus, the demo account is a free trading simulator.
Comparison of Trade245 with other Brokers
| Trade245 | RoboForex | Pocket Option | Exness | Vantage Markets | FxPro | |
| Trading platform |
MetaTrader5, MetaTrader4 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5, WebTrader, Mobile Apps | MT4, MobileTrading, MT5, cTrader, FxPro Edge |
| Min deposit | $100 | $10 | $5 | $10 | $50 | $100 |
| Leverage |
From 1:1 to 1:500 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0 points | From 0 points | From 1.2 point | From 1 point | From 0 points | From 0 points |
| Level of margin call / stop out |
100% / 30% | 60% / 40% | 30% / 50% | No / 60% | 100% / 50% | 25% / 20% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | No | No |
Detailed Review of Trade245
Trade245 aims to become a versatile broker both for beginners and experienced traders. The broker is a partner of major liquidity providers, analytics, and news portals, so its clients have access to the best quotes and tools for professional market analytics. Trade245 is a regulated broker that ensures the security of clients’ funds, personal and payment data, and also offers a wide range of assets and trading accounts.
Trade245 by the numbers:
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It works with traders from more than 130 countries.
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It offers six types of trading accounts + demo accounts.
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It offers leverage up to 1:500 for all types of instruments.
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It offers more than 10 payment methods for depositing and withdrawing funds.
Trade245 offers clients classic platforms for trading on global markets
More than 12,000 financial instruments can be traded through Trade245. The broker does not give investment advice and does not accept capital in trust management. The trader independently builds a trading strategy and chooses a trading style, while the broker only provides the necessary tools. First, clients have access to various types of accounts: cent, classic, and swap-free, with near-zero spreads and bonuses. Trade245 also has apps with the same name for Android and iOS, but they are intended only for account management and payment transactions, and you cannot trade using them.
The broker offers clients the MetaTrader 4 and MetaTrader 5 classic trading terminals. You can use the desktop and mobile versions. WebTrader is currently unavailable.
Trade245’s useful services:
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Market Watch. It is used to display BID and ASK values for major currency pairs and XAU/ASD
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Newsfeeds. Financial news and reviews of market events are published on the Daily FX portal and are available to traders registered with the broker.
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FAQs. Answers to questions relating to the trading conditions of Trade245, broker regulation, account opening, and management.
Advantages:
Negative balance protection applies to all clients.
The broker does not charge non-trading fees for depositing and withdrawing funds.
Swap-free accounts are available, which allow traders professing Islam to trade on the financial markets.
Margin requirements may vary depending on the volatility of the instrument.
Nearly-instant confirmation of the user account if the trader provides reliable data and genuine documents.
24-hour support Monday through Friday.
The broker has no restrictions on the maximum withdrawal amount or the number of open positions. It also has trading and training accounts.
User Satisfaction