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Do you want to know which is the better broker between Trade245 and FOREX EXCHANGE ?
In the table below, you can compare the features of Trade245 , FOREX EXCHANGE side by side to determine the best fit for your needs.
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You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of trade245, forex-exchange lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Trade245 Review Summary of 10 Points | |
Founded | 2020 |
Headquarters | South Africa |
Regulation | FSCA (Suspected Clone) |
Market Instruments | FX pairs, indices, stocks and commodities CFDs |
Demo Account | Available |
Leverage | 1:500 |
EUR/USD Spread | 1 pip |
Trading Platforms | MT4, MT5 |
Minimum deposit | $0 |
Customer Support | 24/5 phone, email |
Trade245 is a forex and CFD broker that offers trading services in forex, indices, commodities, and stocks. The broker is registered in South Africa. It offers the popular MetaTrader4 (MT4) and MetaTrader5 (MT5) trading platforms. Trade245 claims to offer competitive spreads, fast execution, and various account types and educational resources for traders. It is said to be authorized and regulated by South Africa Financial Sector Conduct Authority (FSCA), but it seems to be a suspicious clone.
Trade245 offers several advantages such as a wide range of trading instruments, multiple account types, and user-friendly trading platforms. However, there are also several drawbacks, such as lack of regulation and transparency. Traders should carefully consider these factors before deciding to trade with Trade245.
Pros | Cons |
• Offers a wide range of trading instruments | • Lack of regulation and transparency |
• Provides multiple account types to choose from | • Negative reviews and complaints from some users |
• No minimum deposit requirement | • Residents of the United States, Canada, Israel and the Islamic Republic of Iran are not accepted |
• Offers MT4 and MT5 trading platforms | |
• Provides 24/5 customer support | |
• Offers competitive spreads and zero commissions |
Note: It is important to conduct thorough research and due diligence before choosing a broker to trade with. The above table is just a summary of the pros and cons of Trade245 and should not be taken as a recommendation to trade with or against the broker.
There are many alternative brokers to Trade245 depending on the specific needs and preferences of the trader. Some popular options include:
Forex.com - a globally trusted broker that is regulated in multiple jurisdictions and offers a user-friendly platform, competitive pricing, and a range of educational resources.
FXTM - a popular broker that is regulated in multiple jurisdictions and offers a range of trading instruments, including forex, CFDs, and cryptocurrencies, with competitive pricing and excellent customer support.
IC Markets - a well-regulated broker that offers a range of trading instruments, including forex, CFDs, and cryptocurrencies, with tight spreads and fast execution.
Trade245 misrepresented its regulatory status by claiming to possess a license from the Financial Sector Conduct Authority (FSCA). However, upon investigation, it was revealed that the regulated entity named on the license, RED PINE CAPITAL (PTY) LTD, had no association with the Trade245 trading brand. Consequently, Trade245 unlawfully appropriated a regulatory license to mislead unsuspecting investors, compromising transparency and eroding trust in the financial markets.
Tradable financial instruments available on the Trade245 platform include FX pairs, indices, stocks and commodities CFDs and more. Many other brokers could even offer richer instruments, like metals, cryptos, options, etc.
Trade245 offered 7 account types targeting different trading preferences and strategies. Their account options included:
Standard Account: This account featured variable spreads starting from 1 pip, with leverage up to 1:500. Bonus funds of 100% were included with this account type, accessed via the MT4 platform.
Swap-Free Account: Similar to the Standard Account, with variable spreads from 1 pip and maximum leverage of 1:500, but without any bonus funds. This account was available on the MT4 platform and facilitated swap-free trading.
Zero Spread Account: As the name suggests, this account offered variable spreads starting from 0 pips, with leverage capped at 1:500. No bonus was included, and it operated on the MT4 platform.
Bonus 245 Account: This account provided variable spreads from 1 pip, with leverage up to 1:500. A substantial bonus of 245% was included with this account type, accessible via the MT4 platform.
Bonus Rescue Account: Designed for risk management, this account featured variable spreads from 1 pip and leverage of 1:500. It included a 100% bonus to protect against potential drawdowns, available on the MT4 platform.
Micro Account: Tailored for smaller trading sizes, this account offered variable spreads starting from 1 pip and leverage up to 1:500. No bonus was included, and it was accessible on both MT4 and MT5 platforms.
Copy Trading Account: This account facilitated copy trading, with variable spreads from 1 pip and maximum leverage of 1:500. No bonus was provided, and it was available on the MT4 platform.
Notably, there is no minimum opening deposit requirement for any of these accounts, providing traders with greater flexibility.
All account types offered by Trade245 have a maximum leverage of 1:500. This means that traders can potentially increase their profits or losses by up to 500 times their initial investment. However, it is important to note that high leverage also increases the risk of significant losses. Therefore, it is crucial for traders to use leverage responsibly and manage their risk effectively. Traders should also ensure that they understand the risks and implications of using high leverage before trading with Trade245 or any other broker.
Trade245 offers variable spreads which start from as low as 1 pip for some account types (except for Zero Spread accounts from 0 pips). The spreads may vary based on the trading instrument, account type, and market conditions. Trade245 does not charge any commission fees for its trades. Instead, it includes its costs within the spread. However, the Zero Spread account type may charge an unspecified commission fee.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
Trade245 | 1 pip | No |
Forex.com | 0.8 pips | No |
FXTM | 1.3 pips | No |
IC Markets | 0.1 pips | AUD $7 per lot |
Note: The above data is based on the information available on the respective brokers' websites and is subject to change. Spreads and commissions may vary depending on the account type, trading platform, and market conditions.
Trade245 offers its clients the popular and widely used MetaTrader4 (MT4) and MetaTrader5 (MT5) trading platforms. Both platforms are available for download on desktop, mobile, and tablet devices. These platforms provide a user-friendly interface, advanced charting tools, and a wide range of technical analysis indicators. MT4 and MT5 are well-known for their fast execution speeds, reliable order execution, and a range of trading tools to enhance the trading experience.
Additionally, the platforms support automated trading through expert advisors (EAs) and allow traders to customize their trading strategies using their preferred programming language.
Overall, Trade245 provides a comprehensive trading experience for both novice and experienced traders with the support of two of the most popular trading platforms in the industry.
See the trading platform comparison table below:
Broker | Trading Platform |
Trade245 | MetaTrader5, MetaTrader5 |
Forex.com | MetaTrader4, Web Trading |
FXTM | MetaTrader4, MetaTrader5, FXTM Trader App |
IC Markets | MetaTrader4, MetaTrader5, cTrader |
Note: The table is based on the information available on the official websites of the brokers, and is subject to change.
Trade245 offers various deposit and withdrawal methods to its clients, including Visa, MasterCard, mPESA, ozow, Skrill and various cryptocurrencies. There is no minimum deposit requirement. There are no deposit fees charged by Trade245.
Withdrawals are said to be processed within hours, and there are no withdrawal fees charged by Trade245. However, clients should be aware that some payment providers may charge fees for their services.
ZAR, USD, GBP
Trade245 | Most other | |
Minimum Deposit | $0 | $100 |
Trade245 charges fees for several services as follows:
Overnight Financing Fees: Also known as swap fees, overnight financing fees are charged for holding positions open overnight. The fees are calculated based on the trading instrument being traded and the position size.
Inactivity Fees: Trade245 charges an inactivity fee of $50 per month for accounts that have been inactive for 3 months or more.
Deposit & Withdrawal Fees: Trade245 does not charge any fees for deposits and withdrawals. However, third-party fees may apply, depending on the method used.
It's worth noting that the fees charged by Trade245 may vary depending on the type of account opened and the trading platform used. It's important to read the terms and conditions carefully before opening an account with Trade245 to fully understand the fees charged.
See the fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
Trade245 | No | No | $50/month after 3 months of inactivity |
Forex.com | No | No | $15/month after 12 months of inactivity |
FXTM | No | No | $5/month after 6 months of inactivity |
IC Markets | No | No | $10/month after 2 years of inactivity |
Trade245 offers 24/5 customer support through various channels including email and phone. Their website also has an FAQ section where clients can find answers to common questions. You can also follow them on some social networks such as Facebook and Instagram.
Trade245 offers some educational resources to its clients, including a glossary of commonly used trading terms and articles on various topics related to trading. These resources are aimed at helping traders of all levels to gain a better understanding of the financial markets and improve their trading skills. Overall, Trade245's educational offerings are a valuable resource for traders who are looking to improve their trading performance and achieve their financial goals.
Overall, Trade245 appears to offer a competitive trading environment with a wide range of trading instruments, multiple account types, and popular trading platforms including MT4 and MT5. However, the fact that their FSCA license is a suspicious clone raises some concerns about the legitimacy of the broker. In addition, there are some negative reviews from users reporting difficulties with withdrawals, which is certainly a red flag. As with any broker, it is important to conduct thorough research and exercise caution before investing any funds.
Is Trade245 legit ?
No. It has been verified that their South Africa Financial Sector Conduct Authority - FSCA license is a suspicious clone.
At Trade245, are there any regional restrictions for traders?
Yes. Trade245 does not provide services for the residents of certain countries, such as the United States, Canada, Israel and the Islamic Republic of Iran.
Does Trade245 offer demo accounts?
Yes. Demo accounts are available.
Is Trade245 a good broker for beginners?
No. Trade245 is not a good choice for beginners. Though it offers demo MT4 and MT5 accounts, never forget their FSCA license is a suspicious clone.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
Basic | Information |
Registered Country/Region | Japan |
Regulation | FSA |
Founding Time | 2004 |
Minimum Deposit | No limitation |
Maximum Leverage | 1:25 |
Minimum Spreads | From 0.7 pips on EUR/USD |
Trading Platform | MT4 trading platfom |
Trading Assets | Currency pairs, commodity futures and stock futures |
Payment Methods | Regular bank transfers and quick transfers |
Customer Support | 5 /24 Live Chat, Phone, Emails |
General Information & Regulation
FOREX EXCHANGE was established in 2004, registered for financial futures trading business in January 2006, joined the Financial Futures Trading Association in February 2006, and registered for first-class financial instruments business in September 2007. In 2008, FOREX EXCHANGE moved its headquarters to Tokyo, and in November of the same year, it registered for the second financial instruments business, and in 2009, it registered for investment advice/institutions, and in April of the same year, it joined the Japan Investment Advisors Association. FOREX EXCHANGE's business also includes forex margin trading in accordance with the Financial Instruments and Exchange Act and all related businesses. FOREX EXCHANGE currently holds a retail foreign exchange license authorized by the Japan Financial Services Agency (Regulatory No. 2010001141146).
Market Instruments
Investors on the FOREX EXCHANGE platform can trade popular currency pairs in the foreign exchange market, as well as commodity futures and stock futures.
Minimum Deposit
There is no initial minimum deposit requirement, but investors are advised to deposit at 100,000 JPY into their MT4 account.
Spreads & Commissions
The EURUSD spread is 0.7 pips, the USDJPY spread is 0.6 pips, the minimum spread for EURJPY is 0.7 pips, the minimum spread for GBPJPY is 1.4 pips, and the spread for AUDJPY is 1 pip.
Trading Platforms Available
Traders trading with FOREX EXCHANGE can apply the MT4 trading platform, which is currently the most popular platform in the market. Since its release in 2005, the MT4 trading platform has become a popular platform for financial institutions and investors worldwide due to the convenience of the trading system and the ability to customize charts freely. The most attractive aspect of MT4 is that it can automatically buy and sell, and users can view exchange rates to buy and sell, and by pre-determining trading rules, trades can be made automatically.
Deposit and Withdrawal
Traders can make deposits to their investment accounts via regular bank transfers and quick transfers. A regular bank transfer is a method of transferring funds to the company's designated account at Internet banking, ATMs, or over-the-counter at financial institutions. The quick transfer is a method of transferring funds from a trader's computer or smartphone to [My MT4]. The client is responsible for transfer fees when transferring funds to the bank account designated by FOREX EXCHANGE. Withdrawals are, in principle, free of charge, but if the withdrawal amount is less than 10,000 yen and the withdrawal amount exceeds 5 times per month, a fee of 540 yen will be charged for each withdrawal.
Pros & Cons of FOREX EXCHANGE
Pros | Cons |
FSA-regulated | ONLY MT4 supported |
MT4 trading platform available | Conservative leverage |
Competive spreads | |
No minimum deposit requirements | |
Commodities & Stocks also available |
Customer Support
If clients have any inquiries or trading-related issues, they can get in touch with FOREX EXCHANGE through the following contact channels:
Telephone: +81 03-3537-2311
Email: support@forex-exchange.com
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive trade245 and forex-exchange are, we first considered common fees for standard accounts. On trade245, the average spread for the EUR/USD currency pair is From 0 pips, while on forex-exchange the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
trade245 is regulated by FSCA. forex-exchange is regulated by FSA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
trade245 provides trading platform including Zero Spread,Swap Free,VIX 75,Cent,No Bonus,Bonus 100 and trading variety including --. forex-exchange provides trading platform including -- and trading variety including --.