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Trade245 Review – Is This Broker Scamming People?
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Must read Trade245 review. Is Trade245 regulated? Who is this broker? Where is it operating from? What are the pros & cons of trading with it?To get more news about advance stox, you can visit wikifx.com official website.
Trade245 is a brand owned by Red Pine Capital (PTY) Ltd. This company is very well-known for owning scam brands such as ZumaMarkets and ZumaFX. The company is based in South Africa and regulated by FSCA and has an offshore entity in Seychelles regulated by FSA.
The company has been conducting a scam for several years. There are many warnings against Trade245 and Red Pine Capital (PTY) Ltd. There is no safety whatsoever with this broker.Even though the company is officially regulated by FSCA, on the FSCA website, we couldn’t find all the trading names the company is using, which means that some of those are not approved by FSCA, and if you lose your money, FSCA will not be responsible.
Trade245 trading platform is MetaTrader. The broker offers both MT4 and MT5, depending on the account type you choose. However, MT5 seems to be available for only one account type.
Even though the broker claims to offer accounts with a spread starting from 0.0 pips, that seems to be misleading information. If you pay attention to EUR/USD pair, the minimum spread is 2.5 pips. Be careful when opening an account with this broker.Based on its regulation, the broker can legally operate in South Africa. Since it has an offshore entity, it can work in any country where it complies with the trading regime. Now, besides the USA, it seems that the client has no other restrictions.
Currently, the broker’s website is down, so that we couldn’t verify the number of assets. However, what we did find is that the broker allows trading with currency pairs, commodities, indices, shares, and cryptocurrencies.
If you were scammed by a Trade245 broker, there is a possibility to get your money back. You need to file a dispute and request a chargeback. Unfortunately, you are not the only victim of the Trade245 scam.