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Trade245 Fees, Spreads and Commission

 

Fees and Spreads

The Trade245 spread list is as follows:

Trade245 offers variable spreads for each of the seven accounts on offer, which are as follows:

  • 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

As can be seen from the above, the spreads offered by Trade245 are not as competitive as those offered by other brokers in the industry, many of which offer spreads from as little as 0.4 pips. However, these is a spread-free account available as well.

The broker also charges commissions on certain accounts, though it does not indicate which accounts, charged at $10 per lot.

 

Additional Trading Fees

Trade245 charges swap fees, or overnight fees, which is an additional charge that traders should take into consideration. As such, the 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 does offer an Islamic account, also referred to as a swap-free account, which allows Muslim traders to avoid this type of interest as it is prohibited by Sharia law.

The broker does not charge deposit fees or withdrawal fees on these types of transactions, though an additional fee may be charged by your payment processor, which is beyond the broker’s control.

 

Broker Fees

Traders also need to ensure that they verify additional broker fees which may be waived by their financial institution. In addition, traders may be subjected to currency conversion fees should they transfer fees in a currency which is different from their account base currency.

Trade245 is not a spread betting broker, so that spread betting fees will not apply.

 

Pros and Cons

PROS CONS
No deposit fees Not the most competitive commission
No withdrawal fees Not the tightest spreads
Transparent cost structure

 

FAQ

How many instruments can I trade with Trade245?

The broker offers flexible access to over 12 000 financial markets including Forex, Indices, Stocks, Commodities and Cryptocurrencies.

Does Trade245 offer leverage?

Yes, the broker offers variable leverage with a maximum ratio of 1:500 for all account types.

What spreads can I expect with Trade245?

The Trade245 spread list is as follows:

Trade245 offers variable spreads for each of the seven accounts on offer, which are as follows:

  • 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

As can be seen from the above, the spreads offered by Trade245 are not as competitive as those offered by other brokers in the industry, many of which offer spreads from as little as 0.4 pips. However, these is a spread-free account available as well.

Does Trade245 charge commission?

Yes, on certain accounts, though it does not indicate which accounts, charged at $10 per lot.

Is Trade245 regulated?

Yes, Trade245 is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa

Is Trade245 a recommended forex trading broker for experts and beginners?

Yes, Trade245 offers a good trading environment for beginner and advanced traders.

What is the overall rating out of 10 for Trade245?

8/10.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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