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Score
South Africa
Suspicious Regulatory License
MT4 Full License
Suspicious Overrun
High potential risk
Influence
Add brokers
Comparison
Quantity 9
Exposure
Score
Regulatory Index0.00
Business Index6.96
Risk Management Index0.00
Software Index8.83
License Index0.00
Single Core
1G
40G
Danger
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Company Name
Trade245 (Pty) Ltd
Company Abbreviation
Trade245
Platform registered country and region
South Africa
Company website
Company summary
Pyramid scheme complaint
Expose
stay away from this broker
I have $10k in my wallet and around 900usd in my mt4 account .i have been trading with this broker since 24-02-2021. My first withdrawal requested date on 23-03-2021 they rejected and asked me to provide documents. which i have already provied and that Approved Again i requested on 25-03-2021 that rejected and got email from company to request withdraw on Skrill instead of Bankwire. Again I requested withdrawal on 26-03-2021 , 29-03-2021 then 01-04-2021 All rejected without any carouse.
I was trading with this broker since 12 April without any single withdrawal i was compounding my profits for increase good profits unfortunately what email i received. I was using hedge buy/sell long strategy which all broker allow without any problem. Please find attachment. Azraa Jacobs Dear Client Please note that your profile has been deactivated & your trading account(s) disabled -
I was trading with this broker since 12 April without any single withdrawal i was compounding my profits for increase good profits unfortunately what email i received. I was using hedge buy/sell long strategy which all broker allow without any problem. But the just sent me a Email that’ my account is deactivated and my trading accounts is been disabled this is pure scam
Trade245 is a scam and should be banned
I deposited funds with Trade245 and deeply regret it. Their customer service is abysmal. They bombard you with emails requesting documents, but once you submit everything, they go silent—especially when you ask about your withdrawal. It’s been over 10 days since I requested my payout. Every day, I’m told “you’ll receive it by the end of the day,” but nothing ever arrives. They keep making excuses and dragging things out. It’s clear they’re stalling, and at this point, I believe this is a scam operation. They’re quick to take your deposit but vanish when it’s time to pay out. I’ve followed every instruction, submitted every document, and still—no funds, no accountability.
I have $10k in my wallet and around 900usd in my mt4 account .i have been trading with this broker since 24-02-2021. My first withdrawal requested date on 23-03-2021 they rejected and asked me to provide documents. which i have already provied and that Approved Again i requested on 25-03-2021 that rejected and got email from company to request withdraw on Skrill instead of Bankwire. Again I requested withdrawal on 26-03-2021 , 29-03-2021 then 01-04-2021 All rejected without any carouse.
My first withdrawal requested date on 23-03-2021 they rejected and asked me to provide documents. which i have already provied and that Approved Again i requested on 25-03-2021 that rejected and got email from company to request withdraw on Skrill instead of Bankwire. Again I requested withdrawal on 26-03-2021 , 29-03-2021 then 01-04-2021 All rejected without any carouse.
Trade245 Review Summary | |
Founded | 2020 |
Registered Country/Region | South Africa |
Regulation | FSCA (Unverified) |
Market Instruments | Forex, indices, stocks, commodities, CFDs |
Demo Account | / |
Leverage | Up to 1:500 |
Spread | From 0.0 pip |
Trading Platform | MT4, MT5 |
Minimum Deposit | $0 |
Customer Support | Tel: +27(0) 87 828 8245 |
Email: support@trade245.com | |
Social Media: Instagram, Facebook | |
Address: Wetton Works, 14 Mercury Crescent, Wetton,Cape Town, South Africa, 7780 | |
Address: Menlyn Square, Building B, 1st Floor, 132 Aramist Ave, Menlyn, Pretoria, South Africa, 0063 |
Founded in 2020, Trade245 was registered in South Africa. Its market instruments include forex, indices, stocks, commodities, and CFDs. Customers can use MT4 or MT5 to trade, with seven account types available, whose leverage is 1:500, with no minimum opening deposit requirement. However, investors still need to be cautious, since Trade245's license is unverified.
Pros | Cons |
Various trading products | Unverified status |
Seven account types | No demo account |
MT4, MT5 support | |
No minimum deposit requirement | |
Multi-lingual support |
Regulated Authority | Financial Sector Conduct Authority (FSCA) |
Current Status | Unverified |
Regulated Country | South Africa |
Regulated Entity | Red Pine Capital (PTY) LTD |
License Type | Financial Service Corporate |
License No. | 46044 |
Tradable Instruments | Supported |
Forex | ✔ |
Indices | ✔ |
Stocks | ✔ |
Commodities | ✔ |
CFDs | ✔ |
Bonds | ❌ |
Cryptocurrencies | ❌ |
ETFs | ❌ |
Account Type | Leverage | Spread | Platform |
Bonus 100 | 1:500 | From 1 pip | MT4 |
No Bonus | 1:500 | From 1 pip | MT4 |
Swap Free | 1:500 | From 1 pip | MT4 |
Zero Spread | 1:500 | From 0 pip | MT4 |
Bonus 245 | 1:500 | From 1 pip | MT4 |
Bonus Rescue | 1:500 | From 1 pip | MT4 |
Micro | 1:500 | From 1 pip | MT4 & MT5 |
For all account types, the leverage is 1:500. The use of leverage can both maximize profits and also increase losses. Therefore, customers still need to consider carefully before investing.
Account | Spread | Bonus |
Bonus 100 | From 1 pip | Included (100%) |
No Bonus | From 1 pip | Excluded |
Swap Free | From 1 pip | Excluded |
Zero Spread | From 0 pip | Excluded |
Bonus 245 | From 1 pip | Included (245%) |
Bonus Rescue | From 1 pip | Included (25%} Drawdown) |
Micro | From 1 pip | Excluded |
Trading Platform | Supported | Available Devices | Suitable for |
MT4 | ✔ | PC, web, mobile | Beginners |
MT5 | ✔ | PC, web, mobile | Experienced traders |
Investors can deposit and withdraw via VISA, Mastercard, PESA, OZOW, Skrill, Global cryptocurrency.
Setting your sights on Trade245? Think again! Traders are witnessing massive problems that extend beyond withdrawal denials. The issues include blown-up accounts due to trading manipulation, along with high spreads and commissions. As a result, traders witness only losses even when they are not supposed to. This has made the situation highly complicated for them. In this article, we have exposed Trade245 for its financially illicit acts. Read on!
WikiFX has complied reasons to avoid trading with Trade245 in the following review.
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User comment
7
CommentsWrite a review