trade245

Trade245 is an online trading broker founded in 2020 and registered in South Africa under the legal name Trade245 (Pty) Ltd. The company is based at 4 Canal Close 2 Century Falls Road, Century City 7441, and appears to operate with a small team (0 employees listed in available records). The broker offers a suite of trading services including forex, indices, stocks, commodities, and CFDs, and provides both MetaTrader 4 and MetaTrader 5 platforms to clients.

Trade245 claims regulation by the Financial Sector Conduct Authority (FSCA) of South Africa, holding two derivatives trading licenses (EP) with numbers 52142 and 46044. However, the status of these licenses is noted as unverified in industry databases, meaning traders should exercise caution when evaluating the broker's regulatory standing. The FSCA is the primary financial regulator in South Africa, overseeing OTC derivative providers.

The broker offers seven distinct account types to cater to different trading styles and capital levels. These include a Micro account with a minimum deposit of R100, spreads from 2 pips, and maximum leverage of 1:500. A VIP account requires a minimum deposit of R5,000, offers spreads from 0.5 pips, and charges a commission of $3 per lot traded. Bonus accounts such as Micro Bonus 100, Micro Bonus 300, Bonus 100, and Bonus 300 provide enhanced leverage and spread structures, while the Zero Stop-Out account advertises no forced stop-out level. All accounts feature leverage up to 1:500 and have no minimum opening deposit requirement, though the VIP tier has a higher entry barrier.

Trade245 supports the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are available for desktop, web, and mobile devices. The broker provides access to a range of instruments including major and minor forex pairs, indices, individual stocks, commodities such as gold and oil, and CFDs on various assets. The exact number of instruments is not disclosed in the available data, but the broker advertises a comprehensive selection for retail traders.

Specific deposit and withdrawal methods are not detailed in the provided information. However, the broker states it processes withdrawals promptly and accepts various funding options. Based on user feedback, the minimum deposit is R100 for most account types. Traders should note that the broker has received numerous complaints regarding withdrawal delays and blocks, as reflected in third-party review platforms.

Trade245 offers customer support primarily via email and presumably live chat, though these details are not fully confirmed. Some users have reported positive interactions with support agents who were helpful and quick to respond. The broker does not publish a phone number in the available data, and the lack of a live chat option has been noted as a drawback by some clients.

Trade245 has a Trustpilot rating of 2.0 out of 5 based on 51 reviews, with the majority of users expressing dissatisfaction. The FXCanary Scam Risk Score of 48/100 classifies the broker as 'Guarded', indicating potential risks. Traders are advised to read the full review and consider the numerous withdrawal and scam-related complaints before opening an account.