Trade245 offers variable spreads for each of the seven accounts on offer.Trade245 does charge swap fees, also referred to as overnight fees. This swap fee starts at 5% per annum for indices and 2.5% for commodities and cryptocurrencies.
Trade245 at a Glance
| Broker’s Name | Trade245 |
| 📍 Headquartered | Johannesburg, South Africa |
| 📅 Year Founded | 2020 |
| ⚖️ Regulating Authorities | FSCA |
| 🌐 Countries not accepted for trade | Not indicated |
| ☪️ Islamic account (swap-free) | Yes |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | No |
| 📊 Managed Accounts | No |
| 📈 Maximum Leverage | 1:500 |
| 💰 Minimum Deposit | $100 / R1683,52. |
| 💳 Deposit Options | · Visa/Mastercard · Skrill · MPesa · Ozow |
| 💳 Withdrawal Options | · Visa/Mastercard · Skrill · MPesa · Ozow |
| 💻 Platform Types | MetaTrader 4 and MetaTrader 5 |
| 📱 OS Compatibility | Windows, Mobile, Web, iPhone, iPad |
| 📈 Tradable assets offered | Forex, Indices, Stocks, Commodities and Cryptocurrencies |
| 👨💼 Languages supported on Website | English Only |
| 👥 Customer Support Languages | English Only |
| 📆 Customer Service Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Trade245 Fees and spreads – 9 key points quick overview:
Trade245 at a Glance- Trade245 Fees and spreads – 9 key points quick overview:
- Trade245 Fees and Spreads
- Trade245 Additional Trading Fees
- Trade245 Broker Fees
- Trade245 Customer Reviews
- Trade245 Pros and Cons
- Conclusion
- Frequently Asked Questions
Trade245 Fees and Spreads
Clients can expect the following spread list from Trade245:
Trade245 offers variable spreads for each of the seven accounts on offer, and these spreads are given on average as below:
Bonus 100 Account: spreads from 1 pip
Bonus Rescue Account: Spreads from 1 pip
No Bonus Account: Spreads from 1 pip
Swap-Free Account: Spreads from 1 pip
Zero Spread Account: Spreads from 0 pips
Cent Account: Spreads from 1 pip
Weekend Trader: Spreads from 1 pip
While these spreads are not as competitive as those offered by many other brokers in the industry, the broker does also make a spread-free account available.
Commissions are charged on specific accounts, though the broker does not indicate which accounts these are. Nevertheless, where a commission is charged it is done so at $10 per lot.
Trade245 Additional Trading Fees
Trade245 does charge swap fees, also referred to as overnight fees. This swap fee starts at 5% per annum for indices and 2.5% for commodities and cryptocurrencies.
A swap or rollover fee is the net interest return on a currency position held overnight by a trader. That is, when trading currencies, an investor borrows one currency to buy another. The interest paid, or earned, for holding the position overnight is called the rollover rate.
The broker also offers an Islamic account, which is often referred to as a swap-free account. These accounts allow traders of the Muslim faith to avoid this type of interest, which is prohibited by Sharia law.
The broker does not charge deposit fees or withdrawal fees, though an additional fee may be charged by your payment processor, which is beyond the broker’s control.
Trade245 Broker Fees
Traders should also be sure to check with the client support or account manager on any additional broker fees which may be waived by their financial institution.
As already noted, traders may be subjected to currency conversion fees should they transfer fees in a currency that is different from their account base currency.
As Trade245 is not a spread betting broker, spread betting fees will not apply.
Trade245 Customer Reviews
What I like about them as soon as you…
What I like about them is as soon as you make a withdrawal you get your money as it is no stories keep up the good work guys
Trade245 Pros and Cons
| ✔️ Pros | ❌ Cons |
| No deposit fees | Not the most competitive commission |
| No withdrawal fees | |
| Transparent cost structure | Not the tightest spreads |
Conclusion
Trade245 offers variable spreads for each of the seven accounts on offer.Trade245 does charge swap fees, also referred to as overnight fees. This swap fee starts at 5% per annum for indices and 2.5% for commodities and cryptocurrencies.
You might also like: Trade245 Account Types Overview
You might also like: Trade245 Demo Account
You might also like: Trade245 Islamic Account Overview
You might also like: Trade245 Minimum Deposit
You might also like: Trade245 Sign-up Bonus
Frequently Asked Questions
What spreads can I expect with Trade245?
Spreads range from 0 pips for Zero Spread account and 1 pip for Bonus 100, Bonus Rescue, No-Bonus, Swap-free, Cent, and Weekend Trader accounts.
Does Trade245 charge any inactive fees?
As for inactivity fees, if an account has been dormant, or inactive for 12 consecutive months, then a maintenance fee is going to be charged.
Does Trade245 charge a commission?
Yes, on certain accounts, though it does not indicate which accounts, are charged at $10 per lot.
What type of spreads applies to Trade245?
Spreads range from 0 pips for the Zero Spread account and 1 pip
What is the overall rating out of 10 for Trade245?
8/10.
Featured SA Shares Writer and Forex Analyst.
Discussion about this post