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Trade245: Safe or Scam?

Trade245: Safe or Scam

Introduction

Trade245 is a regulated South African broker offering various trading platforms. The broker provides various deposit and withdrawal services for efficient trading. Minimum deposit and Maximum leverage are its key features.

NAME TRADE245
HEADQUARTER Johannesburg, South Africa
FOUNDED 2020
REGULATING AUTHORITIES FSCA
COUNTRIES NOT ACCEPTED FOR TRADE United States, Canada, Israel and the Islamic Republic of Iran.
MAXIMUM LEVERAGE 1:500
MINIMUM DEPOSIT $100 / R1683,52
DEPOSIT OPTIONS Visa/Mastercard

Skrill

MPesa

Ozow

WITHDRAWAL OPTIONS Visa/Mastercard

Skrill

MPesa

Ozow

PLATFORMS OFFERED MT4, MT5
OS  COMPATIBILITY Windows, Mobile, Web, iPhone, iPad
MINIMUM SPREADS 0 pips
CUSTOMER SERVICE 24*5

TRADE245 IS REGULATED BY

Trade245 under Red Pine Capital (PTY) LTD, based in Johannesburg, South Africa, is an authorised financial services provider regulated by the Financial Sector Conduct Authority (FSCA). With company number 2014/220311/07 and FSP No. 46044, they adhere to the regulatory framework to ensure a secure and reliable trading environment.

Operating as an intermediary, Red Pine Capital (Pty) Ltd facilitates transactions between investors and MarketFinancials Limited. MarketFinancials Limited, authorised and regulated by the Financial Services Authority of Seychelles with Security Dealer License no. SD006 serves as the counterparty for the contracts for difference (CFDs) purchased by investors through Trade245.

The regulatory oversight from the Financial Sector Conduct Authority (FSCA) in South Africa and the Financial Services Authority of Seychelles adds trust and accountability to Red Pine Capital (PTY) LTD’s operations.

Investors considering trading through Red Pine Capital (PTY) LTD can take confidence in their regulatory standing and the established partnership with MarketFinancials Limited.

TRADE245 IS RECOMMENDED FOR

TRADE245 is an excellent choice for novice and experienced traders because of its comprehensive range of features and services. Brokers like RCG Markets have become the traders’ first choice, whether a beginner or a novice.

Account Balance Protection 

Whether you are a novice or an experienced trader, the TRADE245 account balance protection feature offers peace of mind by safeguarding the trader’s funds against extreme market volatility or unforeseen events. This feature ensures that account balance is protected, regardless of the trader’s level of trading experience.

Education 

TRADE245 understands the importance of education for traders at all levels. Novice traders can benefit from beginner-friendly tutorials, while experienced traders can explore advanced trading strategies, webinars, and market analysis tools. The broker’s educational resources cater to the diverse needs of traders, empowering them to make informed decisions.

Variety of Instruments

Both novice and experienced traders can use TRADE245’s wide range of trading instruments. The broker offers a diverse selection to accommodate different trading preferences and strategies, from stocks and commodities to cryptocurrencies, indices, and forex. This variety allows traders to diversify their portfolios and explore new opportunities.

Efficient Withdrawal Processing

Efficient withdrawal processing is essential for traders of all experience levels. TRADE245 prioritises timely and seamless fund withdrawals, ensuring that both novice and experienced traders have quick access to their funds. This feature enables traders to take advantage of market opportunities or manage their finances effectively.

Low-Cost Trading

Trading costs can significantly impact profitability, regardless of a trader’s experience level. Broker’s low-cost trading structure, including tight spreads and low commissions, benefits both novice and experienced traders by minimising expenses and maximising potential returns. This cost-effective approach supports traders in achieving their financial goals.

Affiliate Program

TRADE245 affiliate program presents an opportunity for both novice and experienced traders to earn additional income. Novice traders can leverage their network to refer others to the platform, while experienced traders with established connections can maximise their earning potential. The affiliate program is a valuable feature for traders at any stage of their trading journey.

TRADE245 caters to novice and experienced traders by providing account balance protection, comprehensive educational resources, a variety of instruments, efficient withdrawal processing, low-cost trading, and an affiliate program. 

PROS AND CONS

Here are some advantages and disadvantages of Trade245.

                     PROS                    CONS
Regulated by the Financial Sector Conduct Authority. Customer support is limited
High Leverage Tighter spreads are to be introduced
Low Minimum Deposit Deposit bonuses only for one account
Welcome Bonus offered
Transparent Cost Structure
Narrow Floating Spreads
Free Education and Webinars

ACCOUNT TYPES AT TRADE245

Account types are offered at Trade245.

ACCOUNT TYPES BONUS 100 NO BONUS SWAP FREE ZERO SPREAD MICRO BONUS 245 COPY TRADING
LEVERAGE 1:500 1:500 1:500 1:500 1:500 1:500 1:500
SPREAD  From 1 pip From 1 pip From 1 pip From 0 pips From 1 pip From 1 pip From 1 pip
SPREAD TYPES Variable Variable Variable Variable Variable Variable Variable
BONUS 100% Excluded Excluded Excluded Excluded Included (245%) Excluded
PLATFORMS MT4 MT4 MT4 MT4 MT4 & MT5 MT4 MT5

TRADE245 DEMO ACCOUNT

Trade245 offers Demo Account. You can open a demo account through the following steps:

  • Access the Open an Account Page and click to select it.
  • Input the necessary details into the form, such as your Name and Surname.
  • Upload a document for verification of the provided personal information.
  • Complete an electronic Quiz to confirm your trading experience after verification.
  • Upon completing account activation, proceed to deposit funds and commence trading.

TRADE245 REGISTER

STEP 1. Access the broker’s website and locate the Trade245 registration portal.

STEP 2. Enter your complete name and surname in the provided fields.

STEP 3. Create a password for your account and potentially for future access to a live account. Confirm the password to ensure accuracy.

STEP 4. Specify your country of residence by selecting it from the options provided.

STEP 5. Familiarise yourself with the broker’s data security protocols and accept them. 

STEP 6. Proceed by clicking the designated button to complete Trade245 registration and establish your account.

Trade245

TRADE245 LOGIN

You can Login to your Trade245 account by simply entering your Email Id and Password to your already registered account.

Trade245

TRADE245 DEPOSIT AND WITHDRAWALS 

Trade245 minimum deposit is $100; a low cut-off amount is also mentioned as $5. The broker ensures prompt processing of client withdrawal requests, typically taking only a few hours to complete. The broker does not impose any fees on deposits or withdrawals. Clients can withdraw funds to various channels, including bank accounts, e-wallets, and cards. Withdrawals in cryptocurrencies are also supported.

When opting for a card transfer, the broker returns the amount initially deposited via that card. In cases where a more immense withdrawal amount is requested, the excess is transferred to a designated bank account. 

For withdrawals via bank transfer, the timeframe for receiving funds depends on the selected financial institution. Notably, the broker adheres to a policy of not withdrawing funds to third-party accounts. If you require withdrawing funds to third-party accounts, look for FXCM Broker.

Trade245

STEPS TO DEPOSIT FUNDS IN TRADE245

STEP 1: Visit the broker’s Account portal.

STEP 2: Login to your trading account.

STEP 3: Deposit your chosen amount to meet the minimum requirement.

STEP 4: Select a suitable deposit method from the available options.

STEP 5: Specify the deposit amount and confirm the transaction.

STEPS TO WITHDRAW YOUR FUNDS IN TRADE 245

STEP 1: Access your trade245 account by login in.

STEP 2: Navigate to the Withdraw Funds option in the menu.

STEP 3: Specify your desired withdrawal amount, with no minimum or maximum limits.

STEP 4: Select your preferred withdrawal method.

STEP 5: Complete the electronic request by providing the necessary information.

STEP 6: Confirm and submit the withdrawal request.

STEP 7: Monitor the withdrawal status from your dashboard.

SIGN-UP BONUS

Trade245 extends a sign-up bonus, commonly known as a welcome bonus, to all new traders who register for a real account with the broker. As part of this promotion, a deposit bonus will be granted on all deposited amounts.

The bonus amount will be capped at a cumulative maximum of R 285,000 on the Bonus 100 account and R50,000 on the Bonus Rescue account or the equivalent currency per trading account. This bonus opportunity provides traders with an additional incentive to join and engage in trading activities with Trade245.

TRADING PLATFORMS

Trade245 offers various advanced trading platforms to traders.

METAQUOTES SOFTWARE CORP

MetaQuotes Software Corp., founded in 2000, has become a prominent developer of software applications for brokerages, banks, and exchanges. Their portfolio includes a range of widely recognised software products, starting from the user-friendly FX Charts platform to the advanced MetaTrader 5 multi-asset trading platform.

The company’s dedication to providing excellent and straightforward solutions has garnered significant praise from its customer base.MetaQuotes collaborates with an extensive network of nearly a thousand esteemed financial institutions worldwide. 

This impressive partnership reflects the company’s demonstrated professional competence and unwavering reliability, cementing its reputation in the industry.

METATRADER4

MT4 platform supports a wide range of transactions, including futures, Indices, Equities, and other CFDs. Although touted as suitable for traders of all experience levels, it falls short in certain aspects. 

While it does provide a user-friendly interface, advanced charting features, technical analysis tools, and automated trading capabilities, there are areas where it lacks compared to more advanced platforms available in the market.

Furthermore, it is worth mentioning that the broker emphasises using the MT4 platform for trading on various account types, such as Bonus, No Bonus, Swap Free, and Zero Spread accounts. 

METATRADER5

The release of MT5 by MetaQuotes in 2010 is a significant breakthrough. The platform offers Forex symbols, stock instruments, and futures trading, claiming to be faster, more functional, reliable, and convenient.

While it gained appreciation from millions of traders worldwide, it is essential to critically assess its actual performance and whether it genuinely outshines its predecessors.

TRADE245 MOBILE APP

Trade245 offers mobile applications for both Android and IOS devices to make trading easier and effective for the traders.

Trade245

TRADING INSTRUMENTS

Trade245 provides access to a diverse selection of 150 assets for trading CFDs. These assets are categorised into Major FX Pairs, Exotic Forex Pairs, Market Indices, Cryptocurrencies, US Stocks and UK Shares, Gold, Oil, and Silver. 

This wide range of options allows traders to explore various markets and instruments, catering to different trading preferences and strategies. For an array of trading instruments, look for Vault Markets

RELIABILITY AND SECURITY

The broker is reliable as it is regulated by the Financial Sector Conduct Authority. Red Pine Capital (PTY) LTD affirms its dedication to transparency and adherence to regulations by forming a partnership with MarketFinancials Limited, a regulated entity. This alliance ensures that investors can trade in a secure and controlled environment, protecting their interests.

USER EXPERIENCE

The user experience with Trade245 has been positive, users are appreciating the the main currency pairs offered by the trader. Also, the broker is beneficial for a new broker who wants to start their trading journey. FXSWay is beneficial for both novice and experienced brokers. Trade245 offers low spreads and high leverage for huge profits and liquidity.

Thus, the overall user experience is good.

CUSTOMER SUPPORT

Mail: [email protected]

Phone number: +27(0) 87 828 8245 

Pros

  • Customer support service is quick.
  • Mail response is efficient.

Cons

  • Live Chat option is missing
  • 24*5 Availability only.

Trade245

CONCLUSION

Trade245 offers a range of features and benefits to enhance the trading experience. They prioritise the safety of traders’ funds through our Account Balance Protection service, ensuring that they never lose more than the initial deposit. 

The Affiliate Program provides business growth opportunities, focusing on client satisfaction and retention. Traders can enjoy efficient withdrawal processing through the user-friendly dashboard. 

They support multiple trading currencies, including ZAR, USD, and GBP. The educational segment empowers clients with the knowledge to trade confidently. 

FAQs

Can I withdraw money from Trade245?

Trade245 only allows for Bitcoin atm withdrawals. The withdrawal process is very similar to their other gateway options; just follow the instructions, keeping in mind that there is a crucial minimum of 60 USD.

What is the minimum deposit amount required to open an account with Trade245?

Opening a trading account with Trade245 requires a minimum deposit of $100 or R1683,52. 

Is Trade245 a licensed and regulated broker?

Yes, Trade245 is licensed and regulated by the Financial Sector Conduct Authority in South Africa.

How much does Trade245 charge for inactivity?

A $25 maintenance fee will be assessed to a dormant account when inactive for a year and then $25 every six months after that. 

How long does it take Trade245 to process a withdrawal?

When banking with FNB, withdrawals for authorised client profiles are handled quickly and show up within a few hours; however, withdrawals from other banks may not show up for up to 24 hours.

Is Trade245 safe?

Yes, Trade245 is a safe broker as it is stringently regulated by Tier 1 authorities.

Emma Hoxha, a self-taught forex trader and author from the US, inspires others with her journey in the financial markets. Through dedication and self-education, she has developed a deep understanding of forex trading. Emma shares her expertise through insightful articles and books, empowering individuals to take control of their financial futures. As an active participant in the trading community, she provides guidance and support to aspiring traders, demonstrating that success is attainable through passion and perseverance.

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