IFX Brokers vs Trade245

IFX Brokers vs. Trade245

We spent many hours thoroughly examining the best-in-class Forex brokers for 2023. Here, we take a closer look at IFX Brokers and Trade245.

Which offers better pricing – IFX Brokers or Trade245?

IFX Brokers and Trade245 both offer competitive spreads. IFX Brokers has a tight spread of 0.2 pips on the EUR/USD currency pair, while Trade245 offers variable spreads of 1.0 pips for the same currency pair.

IFX Brokers charges competitive commissions of USD6 per round turn, while Trade245 does not appear to charge commissions but works these charges into the spread.

Which broker offers more security when trading Forex and CFDs?

IFX Brokers is a fully licensed and regulated Forex broker that is based in South Africa. As such, IFX Brokers is overseen by the Financial Sector Conduct Authority (FSCA) of South Africa, which is the primary regulator of the financial markets in the country.

Trade245 is a product of Red Pine Capital (PTY) LTD, that headquarters in Johannesburg, South Africa, with company number 2014/220311/07. The company is an authorized financial services provider, and also licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, with FSP No. 46044.

In addition, it also holds a license from the Financial Services Authority (FSA) in the Seychelles, which allows it to trade internationally.

Which broker offers the superior trading platform?

IFX Brokers provides access to both MetaTrader 4 and MetaTrader 5, which are widely regarded as the best trading platforms in the industry. As such, traders will have access to a wide range of tools, diverse market access, and fast execution.

Trade245 also offers trading on both MT4 and MT5, and trading conditions differ depending on which platform you use. 

Do these brokers both offer MetaTrader?

Yes, IFX Brokers and Trade245 offers access to both MetaTrader4 and MetaTrader5.

How many Forex pairs can I expect from these brokers?

IFX brokers provides access to 60 currency pairs. It is not clear on Trade245 website how many currency pairs can be traded in. It seems like that information only comes available when you register as a client.

Is it safe to trade with IFX Brokers?

Yes, IFX Brokers is a regulated Forex broker with a South African basis that possesses a complete FSCA licence. The numerous financial institutions in the nation are under the direction of the Financial Sector Conduct Authority (FSCA).

The Financial Sector Conduct Authority (FSCA) was established with the aim of protecting investors by promoting fair treatment and educating people on various financial matters, as well as to promote and maintain the efficiency and integrity of financial markets.

Is it safe to trade with Trade245?

Yes, Trade245 is also regulated by the FSCA in South Africa, so that local traders will receive full deposit security and a transparent trading environment. It is also regulated in the Seychelles through FSA.

Since Trader245 is based in South Africa, the broker is owned and operated by Red Pine Capital (PTY) LTD. The broker and its parent company are regulated by the Financial Sector Conduct Authority (FSCA) in South Africa).

Who is IFX Brokers?

South African Forex broker IFX Brokers is well-regulated and has a lot of clients. Customers of IFX brokers can use the MetaTrader 4 and MetaTrader 5 trading platforms, which are some of the most popular and successful in the world.

These platforms have better charting features, state-of-the-art order management programmes, and a bilingual user interface that lets charts be laid out in different ways.

MetaTrader 4 or 5 can also be used on iOS and Android devices without having to install any extra software.

Customers of IFX Brokers can trade on a wide variety of trading instruments. Some of these financial products are currencies, indices, contracts for difference (CFDs), spot metals, energy, commodities, and virtual currencies.

Clients of IFX brokers can also trade in 60 different currency pairs, precious metals (gold, silver, platinum, and palladium), natural gas, and oil.

The smallest deal size is 0.01 lot, but a standard account requires a minimum deposit of $100 in US dollars. South African Rand, US Dollars, and Euros are the account base currencies, in that order.

You can also use a “practise account” instead of a real account.

Customers of IFX brokers can easily add money to and take money out of their accounts by using Pay Quick, Visa, or MasterCard credit cards, among other options.

The best thing about the whole thing is that there are no fees for deposits or withdrawals. The withdrawal process can be done in as little as two to five hours for South African customers.

On the other hand, it takes four to five working days to finish the withdrawal process for customers outside of the country.

Who is Trade245?

Trade245 was established in 2020 and headquarters in Johannesburg, South Africa. The broker is owned by Red Pine Capital (PTY) LTD. The parent company is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, which ensures reliable and secure trading with Trade245.

According to Trade245’s website, the broker also holds a license from the Financial Services Authority (FSA) in Seychelles, allowing the broker to operate internationally.

Trade245 offers a range of online trading services, that include Forex, Indices, Stocks, Commodities CFDs, and Cryptocurrencies. Both beginner and advanced traders will have the advantage of relatively low spreads, commission-free accounts, and ultra-fast execution across the selection of trading instruments.

Trade245 allows traders to start trading with a minimum deposit of only $5 with access to well-known MetaTrader4 and MetaTrader5 trading platforms. As such, MetaQuotes is considered to be the most popular online trading platform to access the global markets, aimed at giving you the control to help you trade with speed, security, and reliability.

Both platforms can be accessed with desktop applications for Windows and Mac, as well as mobile applications for iOS and Android devices. The availability of both MT4 and MT5 platforms provides traders with a choice based on their specific trading preferences and strategies.

Both of the MT4 and MT5 platforms are suitable for beginner or more advanced traders, which is one of the many reasons why they are considered today’s ultimate trading software platforms.

The broker also provides a range of account types, which currently include Bonus 100, Bonus Rescue, No Bonus, Swap Free, Zero Spread, Cent, and Weekend Trader Accounts.

Interested traders should however, be aware that the available selection of accounts can be subject to continual change at the broker’s discretion, with some options, such as the Swap Free and Weekend Trader Account, only available for a limited time.

Trade245 also offers a few options for clients to instant deposit or withdraw funds into their trading accounts. These payment methods include Visa and MasterCard, M-PESA, Skrill, and Ozow.

One huge drawback in trading with Trade245 is the lack of comprehensive educational and research materials, seminars, and webinars, on its website. At present the broker only provides Forex trading learning resources and a glossary. This limitation may be considered a drawback as robust educational resources play a crucial role in the improvement of traders’ skills and knowledge.

There are no research tools such as an economic calendar, daily feedback on the financial market, economic charts or any other tools. This is an essential component of any traders trading on the financial markets.

In conclusion, Trade245 is a respectable Forex trading broker that provides clients with access to popular trading platforms across a variety of devices, in addition to offering trading solutions that are competitive, efficient, and effective. The broker is responsible for the security of their customers’ funds and offers a number of different payment methods.