Trade245 is a Forex / Crypto CFD broker, based in South Africa, that became popular in 2021.
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Owned and operated by Red Pine Capital (Pty) Ltd, they are located at Atrium on 5th, Floor 9, 5th Street, Johannesburg, 2196.
- Phone number in South Africa is: +27(0) 878288245.
- Customer support email address is: [email protected].
- Official Website is: https://www.Trade245.com/.
Trade245 Broker Review
Our review of this new broker called Trade245 shows, that they offer Forex and Crypto CFD trading, on the standard MT4 trading platform. The mobile trading app which they are using, is a customized trading app. Professional forex traders will be happy to see that they also offer you the MT5 (Meta Trader 5) software, which can be used with an Expert Advisor addon.
You can trade hundreds of underlying assets including; Major Forex Pairs, Minor Currencies, Crypto, Stocks, and Market Indexes. When trading contracts for difference, you are investing with added leverage of 500:1. The appeal is that you can make large profits quickly, but at the same time the risk is much greater. You will find spreads starting at 0 pips, depending on your account type.
Many new investors begin their trading career with the brokers at Trade245, because of their free demo account and easy to use trading platform, signup here.
Trade245 Account Types
All brokers offer you a choice of account types, and at Trade245 you have seven options to choose from. They do not mention any minimum deposit requirements for their various accounts. The main difference between trading accounts seems to be with a bonus or without a bonus.
When you signup for a new account, you will be able to create a login password. You will also receive an email from them with separate login details for your MT4 trading account. Make sure you store them in a safe place so you don’t forget it.
Automated Trading Apps
Thousands of newbie investors got scammed by a trading robot they found on a Fake News website. You can read about the complaints in the investors forum.
Trade 245 does not offer their clients any automated trading software! An automated trading app is also known as an Expert Advisor, which are commonly used by professional traders on MetaTrader4.
If you are interested in using a trading algorithm robot, setup your account here.
Is Trade245 a Good Broker?
Trade245 has a license from the FSCA in South Africa. The FSP license number from Red Pine Capital (PTY) LTD is 46044.
How do you verify that a Forex broker is legitimate, and not another online investing scam? You must check with your countries financial regulatory agency, that the broker has a license. Day traders should only invest with a local broker, that is regulated by their countries regulatory agency.
All online brokers, whether they are offering Crypto or Forex CFD’s, are required by law to have a license. If your broker is not licensed, then they are an illegal scam. Always confirm that your broker is 100% authorized by the financial regulator.