Trade245 offers an Islamic Account to traders of the Muslim faith, which can be opened as a swap-free version of any of the three swap-rated accounts with the same access to all the trading conditions, tools, and features.
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 | 👉 Open Account |
Min Deposit
USD 100
Regulators
FSCA
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Trade245 Islamic Account – 12 key points quick overview:
Trade245 at a Glance- Trade245 Islamic Account – 12 key points quick overview:
- Trade245 Overview
- What exactly is a Trade245 Islamic Account?
- Why is interest discouraged or prohibited by Sharia law?
- What are the steps involved in opening a Trade245 Islamic Account?
- What are Trade245’s spread costs on an Islamic Account?
- What other features does Trade245’s Islamic Account have?
- Trade245 Customer Reviews
- Trade245 Pros and Cons
- Conclusion
- Frequently Asked Questions
Trade245 Overview
Yes, Trade245 offers an Islamic account for Muslim faith traders including a swap-free account. The Islamic forex trading environment is ideal for traders following strict sharia law with a fixed fee instead of a swap. The fee is not an interest and depends on the direction of the order.
Based in South Africa, Trade245 is a fairly new online Forex broker launched in 2025 as a product of Red Pine Capital (PTY) LTD. The broker and its parent company are regulated by the Financial Sector Conduct Authority (FSCA) in South Africa.
Since its recent establishment, the broker has already experienced some impressive growth thanks to its strong offering which comes with a range of trade-enhancing services.
Using the broker’s advanced trading environment, traders can be able to take advantage of tailored and customizable features to better meet their trading goals, particularly through the wide range of account types that serve a variety of different specific trading needs.
In the fast-paced world of Forex trading, traders can use the broker’s ultra-low latency networks to open and close positions at the best time.
Beginner traders can benefit from comprehensive training, free of charge, including a regular webinar series complemented by advanced trade analysis that will benefit both part-time beginner traders and advanced market investors.
Both beginner and advanced traders will certainly appreciate the relatively low spreads, commission-free accounts, and ultra-fast execution across an impressive selection of trading instruments including FX pairs, indices, stocks, cryptocurrencies, and commodities CFDs.
Traders are provided full access to the market-leading MetaTrader4 and MetaTrader 5 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 the MetaTrader 4 platform and its younger sibling 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.
What exactly is a Trade245 Islamic Account?
In order to better understand Islamic forex trading, it is important to first gain an insight into the guiding principles of Islamic finance.
To this end, Islamic finance differs significantly from conventional finance in that it is guided by a set of ethics rather than by a purely profit motive. As such, two principles guide Islamic finance as below:
The first principle is a risk-sharing philosophy between the lender and borrower. According to Islamic principles, interest is unethical, as it guarantees a reward for the lender, while the borrower must incur all the risk. This, according to Islamic finance, can lead to exploitative practices.
The second principle is that financial activity must promote social and economic wellbeing. The purpose of finance in Islam is to promote happiness and contentment in this earthly life. Finance is just one part of life and society.
With these guiding principles, the fundamental feature of Islamic finance is to encourage socio-economic justice. It is for this reason that interest (or riba) is prohibited. Excessive risk (or Gharar) is also prohibited, as is excessive gambling or speculation.
Why is interest discouraged or prohibited by Sharia law?
Interest is any pre-agreed fee paid over and above the principal amount, whether it is a personal or commercial loan. Charging interest, according to Sharia law, or making money from money, is unlawful. The major reasons for its condemnation include:
Riba promotes negative growth. It may increase money quantitatively, but essentially, there is no primal progression in social wealth.
Riba disgraces the human spirit. It effectively promotes a culture that places undue significance on that which is monetary, while disregarding that which is human.
Riba is essentially seen as the unlawful acquisition of property.
When entrenched, Riba corrupts society.
Riba is, for all intents and purposes, unjust. While it creates money for the lender, it is extremely oppressive to the borrower.
What are the steps involved in opening a Trade245 Islamic Account?
It is easy and straightforward to open an Islamic account with Trade245 and includes completing the client registration upon acceptance of this registration, they can then elect to open an Islamic Account.
Unfortunately, the Islamic Account is only available for a limited period of time from the broker.
What are Trade245’s spread costs on an Islamic Account?
Spreads on the Islamic account are variable and start at 1 pip. This spread cost is the same as those charged on all the other accounts.
What other features does Trade245’s Islamic Account have?
Traders who choose to open an Islamic account will have full access to the highly popular MetaTrader 4 platform, with the ability to trade Forex, Futures, Indices, Equities, and other CFD transactions.
MetaTrader 4 is a feature-rich and flexible piece of trading software that will suit traders of all experience levels. Beginners will enjoy its user-friendly interface, while advanced traders will appreciate the charting features, technical analysis tools, and automated trading capabilities.
Min Deposit USD 100 Regulators FSCA Trading Platform MT4, MT5 Crypto Yes Total Pairs 0 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
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 |
| Easy Islamic Account opening process | The account is only offered for a limited time |
| Full access to MetaTrader 4 | |
| No additional costs on the Islamic Account |
Conclusion
Overall,Trade245 offers an Islamic Account to traders of the Muslim faith, which can be opened as a swap-free version of any of the three swap-rated accounts with the same access to all the trading conditions, tools, and features.
You might also like: Trade245 Review
You might also like: Trade245 Account Types Overview
You might also like: Trade245 Demo Account
You might also like: Trade245 Fees and Spreads
You might also like: Trade245 Minimum Deposit
You might also like: Trade245 Sign-up Bonus
Frequently Asked Questions
Does Trade245 have the option of an Islamic Account?
Yes, although at the time of this review the Islamic Account is available for a limited time only.
What is an Islamic Forex trading account?
It is a halal trading account for clients of the Muslim faith who wish to trade and invest while following the principles of Islamic finance, which prohibits the accumulation of interest (or riba) and excessive risk (or gharar) according to Sharia law.
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.
Can traders from South Africa open a Trade245 Islamic account?
Yes, South African traders of the Muslim faith are allowed to open a Trade245 Islamic account
What is the overall rating out of 10 for Trade245?
8/10.
Top 4 Brokers
