Trade245Review SummaryFounded2020-04-14Registered Country/RegionSouth AfricaRegulationSuspicious cloneMarket InstrumentsFX pairs, indices, stocks and commodities CFDsDemo Account❌LeverageUp to 1:500SpreadFrom 0 pipsTrading PlatformMT4/MT5(Windows/Android/iOS)Min Deposit$5 or R95Customer SupportEmail: support@trade245.com, info@trade245.comPhone number: +27(0) 87 828 8245Instagram/FacebookTrade245 Information Trade245 is a broker. The tradable instruments with a maximum leverage of 1:500 include FX pairs, indices, stocks, commodities, CFDs, and more. The broker also provides seven accounts. The minimum spread is from 0 pips. Trade245 is still risky due to its suspicious clone status.Pros and ConsPros Cons Leverage up to 1:500Demo account unavailableMT4 and MT5 availableUnspecific transfer time and fee informationSpread as low as 0 pipNo 24/7 customer supportVarious tradable instrumentsSuspicious cloneIs Trade245 Legit? Although Trade245 is regulated by the FSCA with license type Financial Service Corporate and license number 46044, the current status is suspicious clone, so investment risks cannot be avoided completely.What Can I Trade on Trade245? Trade245 offers various market instruments, including FX pairs, indices, stocks, commodities, CFDs, and more.Tradable Instruments Supported Forex pairs✔Commodities CFDs✔Stocks✔Indices✔Account Type Trade245 has seven account types: Bonus 100, No bonus, Swap free, Zero Spread, Bonus 245, Bonus rescue, and Micro.Account Type Bonus 100No BonusSwap FreeZero SpreadBonus 245Bonus RescueMicroLeverage1:5001:5001:5001:5001:5001:5001:500SpreadsFrom 1 pipFrom 1 pipFrom 1 pipFrom 0 pipFrom 1 pipFrom 1 pipFrom 1 pipBonusInclude(100%)ExcludeExcludeExcludeInclude(245%)Include(25%)ExcludeTrade245 Fees The spreads vary among different account types on Trade245. For example, the spread of the Zero Spread account starts from 0 pips, and the spreads of some other accounts start from 1 pip, all of which are variable spreads. Some account types charge a commission of $10 per lot.Leverage The maximum leverage is 1:500,meaning that profits and losses are magnified 500 times.Trading Platform Trade245 cooperates with the authoritative MT4 and MT5 trading platforms, which are available on Windows, Android, and iOS. Junior traders prefer MT4 over MT5, while traders with rich experience are more suitable for MT5. MT4 and MT5 provide various trading strategies and implement EA systems.Trading PlatformSupported Available Devices Suitable for MT4✔Windows/Android/iOSJunior tradersMT5✔Windows/Android/iOSExperienced tradersDeposit and Withdrawal The minimum deposit amount is $5 or 95 Rand (when paying through the dashboard/portal), and the minimum deposit amount for cryptocurrency is $60. Trade245 supports various deposit methods, such as credit cards (like VISA, etc.), e-wallets (such as Skrill, Moneybookers, etc.), mobile payments (M PESA), and cryptocurrencies (such as Bitcoin, etc.). Withdrawal methods include bank transfers, cryptocurrencies (only Bitcoin ATMs), etc. For approved customer information, the withdrawal processing speed is relatively fast. Withdrawals from FNB Bank will be credited within a few hours, and withdrawals from other banks will be credited within at most 24 hours.Bonus Some accounts on Trade245 have a bonus mechanism. For instance, the Bonus 100 account offers a 100% bonus, the Bonus 245 account has a bonus as high as 245%, and the Bonus Rescue account provides a 25% bonus according to the drawdown situation.