Trade Nation Review 2023
In addition to facilitating the purchase and sale of financial assets from the market on behalf of individual or institutional investors, forex brokers also offer helpful investment advice to their customers. Trade Nation is one of the industry’s leading brokers, offering exceptional trading conditions to both seasoned investors and novice traders.
In this post, we have thoroughly reviewed Trade Nation’s regulation, platforms, global access, registration, leverage, and educational offerings to assess the company’s potential benefits.
Regulation and Security
Trade Nation has been around since 2014, and it is regulated in multiple jurisdictions, as follows:
- United Kingdom: Trade Nation is a trading name of Finsa Europe Ltd, a financial services company authorized and regulated by the Financial Conduct Authority (FCA) under firm reference number 525164.
- Australia: In Australia, Trade Nation is a trading name of Finsa Pty Ltd, a financial services company authorized and regulated by the Australian Securities and Investments Commission (ASIC), ACN 158 065 635, AFSL No. 422661.
- South Africa: Trade Nation Financial (Pty) Ltd, registration number 2018/418755/07, is authorized and regulated by the Financial Sector Conduct Authority (FSCA), FSP No 49846.
- Bahamas: Trade Nation Ltd, registration Number 203493 B, is also authorized and regulated by the Securities Commission of the Bahamas (SCB), SIA-F216.
Funds Segregation
To avoid using clients’ funds to run its operations, Trade Nation keeps its customers’ money in separate bank accounts in some of the best banks in countries they operate from, including Barclays Bank in London.
Negative Balance Protection
The broker provides negative balance protection by ensuring adequate maintenance and early margins call. In any event the market gaps and takes the equity to negative, the account balance is reset to zero so that the trader doesn’t lose more than they deposited.
Deposit Compensation Scheme
One of the benefits of having Tier-1 regulation is deposit compensation in the event of the broker’s bankruptcy. Through the financial services compensation scheme (FSCS) enforced by the FCA, U.K. traders are covered up to £85,000 in the event of the broker’s insolvency. However, traders from other jurisdictions don’t enjoy that benefit.
Is Trade Nation available worldwide?
The broker only conducts business in the numerous jurisdictions where it is regulated. As a result, offer its services to nationals of the United States or any other country other than the United Kingdom, Australia, South Africa, or The Bahamas. Click here to see the full list.
Supported platforms
Adjusting your risk management and implementing the trading plan will be much easier when you have access to a reliable trading platform. This is why Trade Nation provides traders with access to a wide range of cutting-edge trading platforms, such as the following:
The Trade Nation platform
The broker created this unique trading platform in-house. It is available as a web trader, so traders can access it directly from their web browsers (Chrome, Safari, Firefox, and Edge) without downloading or installing any software. The platform offers an easy-to-use user interface, which makes it suitable for any trader, including beginners. Other fascinating and useful features of the trading platform include multiple periods, 12 different types of interactive charts (such as histograms and candle charts), and more.
Traders can test their various trading strategies using the platform’s built-in demo account and strategy tester, which can be accessed without risking real money.
MetaTrader 4
The broker also provides the MT4 platform for trading CFDs. This platform has many advanced trading features and capabilities, including one-click trading, drawing tools, expert advisers, interactive charts, technical indicators, and much more. It is a fantastic alternative for Trade Nation clients, including beginners, due to its basic and uncomplicated user interface. The trading platform is also completely customizable, allowing you to rapidly adapt it to your needs and improve your overall trading performance. The MT4 trading platform is accessible for use on both demo and real money accounts.
The MT4 trading platform is available as a desktop application for Windows and Mac computers, a WebTrader for modern web browsers like Chrome, Safari, Edge, and Firefox, as well as a mobile trading platform for Android and iOS mobile devices.
Mobile apps
The Trade Nation mobile application is available for free download from the respective app stores for Android and iOS devices — Google Play and the Apple App Store — and you can access them from the broker’s website. The Trade Nation mobile app is as simple as its web-based counterpart, and it offers the same features, such as the Smart News section, which combines headlines and tweets from multiple sources.
Traders can also use the MT4 mobile app. The mobile app enables you to stay connected to the market even when they are away from your computer. You must download and install MetaTrader 4 for Android or iOS on your mobile device, whether a smartphone or a tablet.
Account types
Trade Nation’s account structure is simple; just two account types: the Low Leverage account and the High Leverage account (1:200). A trader’s place of residence can affect their account choice. For example, UK and EU retail traders may only use the Low Leverage account. The account is accept various currencies: GBP, USD, EUR, AUD, ZAR, DKK, NOK, and SEK. A demo account is provided as a practicing environment. You can find more details regrading account setup and KYC requirements by clicking here.
Signing Up
Opening an account with Trade Nation is simple and follows industry standards — providing your personal details, verifying your documents, and answering questions about your financial experience. Go to the broker’s website and click on the “Start Trading” icon on the upper right corner of the page. Then, fill out the form to start your application for a new account.
Deposit and withdrawals
Trade Nation accepts a variety of payment methods. Although there are no fees for deposits or withdrawals, traders should ensure that their trading accounts are in one of the basic currencies to avoid currency conversion charges. The base currencies are the US dollar, the euro, the British pound, the Australian dollar, the New Zealand dollar, the Singapore dollar, and the Canadian dollar.
To make a deposit or withdrawal, you must log into your Trade Nation account using your private client portal. Then, you select your preferred method of deposit or withdrawal from the Client Portal. The available payment methods include bank transfers, credit cards, and electronic payment processors. Transaction time varies: bank wire transfers can take one to three days to process, whereas certain e-wallet payments are processed instantly. The minimum amount for withdrawal is $50, and it must be via the same method of deposit.
Instruments
Trade Nation offers clients access to various investment options across many asset types. Forex, commodities, indices, equities, and CFDs are among the products available. The broker does not now offer cryptocurrency trading for reasons best known to them.
Interestingly, both the MT4 and the broker’s trading platform can be used to trade all the available CFD products.
Commissions and fees
Trade Nation does not charge commission fees for its services, as its trading charges are covered in spreads. The spread is defined as the difference between the buy and sell prices. Trade nation’s spreads are marked up to include trading fees. Even at that, the spreads are fixed and quite competitive when compared to those of other brokers. For example, the spread on the EURUSD currency pair is just 0.6 pips and that of the GBPUSD is 0.8.
Available leverage
Leverage can help you increase your position size and make more money, but if you abuse it, it can harm your trading capital. Trade Nation allows traders to use leverage. However, depending on your jurisdiction, the maximum available leverage differs. UK and EU retail clients can only get a maximum of 1:30 leverage, while professional traders and retail clients from other jurisdictions can get up to 1:200 leverage.
Analysis and Education
Trade Nation provides several educational resources on its website. Click here to access them.
Trading Academy
The broker’s trading academy can be found in the “Beginner’s Guides” section at the top of the broker’s website. It comprises, among other things, a variety of instructional resources such as learning articles, trade guidelines, and more. It also covers a wide range of topics such as CFD trading, spread trading, forex signals, trading signals, and how-to tutorials for new traders.
News and Analysis
Traders can gain insights into the most recent market updates by visiting this portion of the broker’s website dedicated to providing such information. It supplies traders with news articles that keep them up to date on the most recent occurrences in the financial markets.
Trading Guides
This section has a selection of video tutorials designed to help you become acquainted with the Trade Nation platform. In the videos, the broker will walk you through all you need to know about their trading platform, from logging into your account to placing complex orders.
FAQs
This is a comprehensive collection of the most often asked questions and their answers. It covers a wide range of topics, including trading, account administration, account opening, platforms and tools, and the advantages of trading with Trade Nation.
Customer service
Trade Nation’s customer service team is available around the clock, Monday through Friday. You can contact them by phone, email, live chat, or through a variety of different social media platforms.
The customer care crew is not only competent but also courteous and quick to answer, and that is a huge advantage. They have prioritized responding to all types of client inquiries; even email inquiries are promptly replied to within 10 minutes.
Reputation amongst Traders
Trade Nation got numerous positive reviews on various online discussion sites. For example, on Trustpilot, Trade Nation received a rating of 4.3 out of 5. Traders express their delight with the sign-up process, customer service, and withdrawal choices.
Can beginners trade with Trade Nation?
Trade Nation is not so beginner-conscious in their offerings — for example, there’s no designated account type for beginners. However, new traders on Trade Nation can use demo accounts to get experience trading with virtual money before they can put real money on the line. Moreover, its minimum deposit is just $1, so newbies can test the waters with a small amount. Also, there are many video tutorials to put traders through on how to use the trading platform.
Summing Up
Trade Nation is a licensed online trading broker that is regulated in multiple jurisdictions. It provides traders with a safe and secure trading environment to buy and sell a wide range of financial products across many asset classes.
Its users benefit from competitive trading conditions, including small fixed spreads, no commissions, a demo account, a small minimum deposit of just $1, and no charges on deposits and withdrawals. While its spreads are marked up to accommodate trading fees, the spreads are still highly competitive when compared to other brokers.
Furthermore, the broker provides a lot of educational resources and powerful trading platforms in desktop, web-based, or mobile versions
