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245Markets Review - is it scam or safe?

245Markets Review - is 245markets.com scam or good forex broker?

RATING: 1.5 / 5 REVIEWS ForexBrokerz 245Markets
245Markets is an offshore broker. Your money is not safe.

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Trading accounts and Conditions

 

Account type Min. deposit Min. trade size Maximum leverage Spreads (& Commission)
Mini $500 0.01 1:400 Spreads Only
Standard $2 500 0.01 1:100 Spreads + Commission
Active Trader $5 000 0.01 1:100 Spreads + Reduced Commission

 

245Markets offers the above three account types, plus a VIP one. All of them offer floating spread and the option to trade in micro lots on the MT4 platform. The Mini account type is commission-free and provides dealing desk environment, while the other two involve a commission, as the spreads provided are lower. Unfortunately, it does not specify important details on its trading conditions, such as what spreads it provides and the exact amounts of the commissions applicable.

 

245Markets Advanatges:

 

- MT4 available

245Markets uses the most popular platform in the forex world, the Metatrader 4 (MT4). We always consider the availability of this platform as an advantage, as this is the preferred platform of most traders. The MT4 is very intuitive and is highly valued for its advanced charting, technical analysis indicators, automated strategies (Expert Advisors), and customization options.

 

 

>>Top MT4 brokers<<

 

 

- Competitive spreads on demo accounts

We tested 245Markets’s MT4 via a demo account, and found the broker’s spreads floating around 0.8 pips on EUR/USD, no commission included. This is sounds like an attractive offer, as most most brokers offer spreads in the range of 1.0 – 1.5 pips for this pair.

 

 

245Markets’s MT4. Click on the image to zoom-in.

 

- Many financial instruments available, Bitcoin included

Another benefit of trading with this broker is its extensive product portfolio, which includes wide range of currency pairs, CFDs on commodities, stocks, indices, precious metals, binary options, and Bitcoin.

 

If you are into the coin game, have a look at what some trusted and well-regulated brokers hace to offer in this regard.

 

 

>>Trusted brokers offering Bitcoin trading<<

 

 

- High leverage levels offered

245Markets offers comparatively high leverage levels, reaching 1:400. Yet, we don’t recommend that you use this option to the fullest, especially if you are a beginner trader, because trading on margin multiplies both potential profits and losses.

 

245Markets disdvantages:

 

- Not regulated, unclear company background

We could not find any information on 245Markets' website regarding the company that operates it, nor regulation or headquarters. This is a major red flag and the greatest disadvantage of this broker. Besides, when we downloaded 245Markets' MT4, it was provided by TFB limited.

 

- Probably related to CaeserTrade

Anhother broker that uses TFB limited’s MT4 is CaeserTrade, an offshore company that seems engaged in fraudulent practices.

 

- High initial investment required

Traders must invest at least $500 in order to open an account with 245Markets, which is quite a lot, considering that major regulated brokerages like FxPro require just $100 as a start.

 

- Cost of trading not specified

As we mentioned in the beginning, 245Markets' does not disclose its spreads, nor the commissions it charges (on Standard and Active Trader accounts). Thus, its potential clients have no idea about the costs of trading with this broker.



Conclusion

 

245Markets is a MT4 broker that offers a plethora of inancial instruments for trade, Bitcoin CFDs included with seemingly low spreads (on demo accounts). However, it does not provide any information about the company behind it (except contact phone numbers with UK phone code) and is obviously not regulated. Besides, it seems related to another brokerage, CaesarTrade, that is most likely a scam.

 

Considering the above, you’d better select a well-regulated broker instead of risking with companies with dubious reputation, such as 245Markets. For example, brokers licensed in the UK, are required to comply with strict rules on minimum capital adequacy, account segregation, transaction reporting, and more. This means that you have maximum protection as a client and your money are safe.

 

>>FCA - licensed brokers<<

 

Here is our summary of 245Markets broker:

 

Pros

Cons

MT4 available

Unclear company background, not regulated

Good spreads on demo accounts

High initial deposit required

High leverage levels offered

Spreads and commissions not specified

Extensive product portfolio

 

 

 

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Traders` reviews for 245Markets

Spread

Pros

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Slippage

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Requotes

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Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

245 Markets is scam company

Do not transfer any Money to 245 Markets. You will never get one cent back from them. Tony Bryner is a 100% swindler and 245 Markets is a scam Company.

Hoff 07/13/2019

scammed

I was scammed from over 45000 us dollars from this company.The person I dealt with was martin cooper.

Nigel Scheepers 01/01/2019

titolare conto

dopo aver lavorato 3 mesi ,avendo raggiunto un buon profitto, ho richiesto un prelievo , la società e sparita è diventata fantasma non si è sentito più nessuno

Translated by Google:

after working 3 months, having achieved a good profit, I requested a withdrawal, the company disappeared and became a ghost no one was heard anymore

aurelio origgi 10/31/2018

investor

i have had one trader in this firm, martin Cooper in 5-6 months and he have trade very well, but no he is gone, and i think that my money i gone too, i have not heard nothing in 1 month no from him, so this is very bad and i are very angry

Åge Mathias Skogstad 08/03/2018

245 Markets - New scam

New scam started is that they can talk to owners of very big private companies, and get private placement of shares for you in these companies. Of course you have to pay 245markets to obtain these shares.

Sunsa 07/20/2018

245 Markets

Do not invest or you will lose all your money.Complete fraud.
Took all my money and are now untraceable.

Sunsad 07/05/2018

Stay away from 245Markets.com and Megan Lagos

I lost all my money. STAY AWAY. No withdraw option.

Nicola 06/01/2018

245Markets scam. Is it possible to track down someone?

Ho aperto un conto trader con la 245 markets il mese di gennaio, e adesso non riesco più a vedere la piattaforma il mio conto sparito, non rispondono più al telefono , non si riesce più a contattare nessuno , sembrano spariti ,credo che sono stato vittima di una truffa.
Chiedevo informazioni se altre persone sono state vittime di questa società e se possibile rintracciare qualcuno .
Grazie ,cordiali saluti

Translated by Goole:

I opened a trader account with 245 markets the month of January, and now I can no longer see the platform my account disappeared, they no longer answer the phone, you can no longer contact anyone, they seem gone, I think I was the victim of a scam.
I asked for information if other people were victims of this company and if possible to track down someone.
Thank you

origgi aurelio 05/30/2018

245 markets scam

I was continually told that 245 was registered, and eventually decided to try with minimum deposit, dealing with Megan Lagos, who then took more cash on my card, taking me over my limit, and she even wanted more, which I did not have, talking about buying in to Bitcoin etc, she led me on from May 2017, to December, then disappeared without trace, leaving me, a Pensioner with a £3600 debt, which I am still trying to clear, but the interest is killing me.
STAY AWAY FROM THESE CROOKS !

Derek Smith 04/05/2018

Scam stay well clear

Well I wish I had read this before parting with my Money. Got numerous harassing phone calls to join and was assured the company was regulated. Deposited $700 dollars. Then with out my permission my broker traded my account and left $13 when I asked what happened he said deposit more money and I will show you what I can do.

Tony Bryner was the name of the supposed broker

Asked for my money back this was back in October 2017 now March 2018 and nothing yet

Paul Joseph 03/13/2018

proof for scam

i had funded $2534 and traded up to $4480 ,when ask for withdrawal a/c been purposely went to negative done by broker name Tony Bryner. a/c again traded up to $17577.15 .with multiple attempts to withdraw my fund, but to no success.
any one here can help? Thanks in advance.

john voo 02/15/2018
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