Trade Nation is a multi-regulated trading platform emphasising low spreads and quick trade execution speeds. It also offers the ability to trade with leverage. They are very clear about wanting to offer ‘transparent fees with no hidden costs or nasty surprises.’
But do they deliver on this? And should you choose Trading Nation for your trading journey?
In this analysis, we will delve into the various aspects of the popular trading platform, taking an in-depth look at its features, fees, customer service, and more. Whether you’re a seasoned trader or just starting your investment journey, this review is intended to help you decide through clear, impartial information.
So, let’s dive in and explore what Trade Nation has to offer!
- Our Verdict
- Company Background and Overview
- Opening an account with Trade Nation
- Trading Platforms: Web, Mobile, and Desktop
- Tradable Assets and Markets
- Spreads, Fees, and Commissions
- Customer Support and Service
- Educational Resources and Market Analysis,
- Regulatory Compliance and Security Measures
- Pros and Cons
- Comparing Trade Nation to Competitors
- User Testimonials and Reviews
Trade Nation Review: Our Verdict
Trade Nation offers a well-designed, user-friendly trading app ideal for beginner forex and CFD traders. It has no minimum deposit, free withdrawal, and and a reasonable – though not overwhelming – product portfolio.
It’s ideal if you’re interested in their concept of ‘fair trading’ – meaning transparency around brokerage fees.
We like their unique Smart News feature that curates tweets and news headlines, making it easier for traders to stay informed. The platform’s charts are powered by ChartIQ, further enhancing the trading experience.
However, there are some drawbacks to using Trade Nation. The platform lacks integrated news headlines and market research beyond the Smart News feature, and the educational offering is average. Seasoned traders may also find that the platform lacks some of the advanced features they are accustomed to on other trading platforms. While Trade Nation is great for beginners and offers some valuable features, more experienced traders may want to explore other options catering to their needs.
(capital risk applies)
Company Background and Overview
Trade Nation was originally founded as Core Spreads in 2009, owned by spread-betting broker FINSA Europe Ltd. At the end of 2020, it made the decision to rebrand as Trade Nation, with the UK-limited company rebranding to Trade Nation Financial UK Ltd.
Trade Nation falls under the leadership of UK entrepreneur Jasper White, former CEO at Gambit Research, a sports betting company. Since 2016, the day-to-day operations of Trade Nation have been managed by CEO Stuart Lane, formerly of Power Capital Global.
Headquartered in London, the company has rapidly expanded its presence in various regions, including Europe, Australia, and South Africa.
Opening an account with Trade Nation
The account opening process at Trade Nation is designed to be straightforward and hassle-free, allowing traders to get started quickly. Below is a step-by-step guide to opening an account with Trade Nation:
- Visit the Trade Nation website and click on the “Trade Now” button
- Provide your personal information, including your name, email address, phone number, and country of residence.
- You will be prompted to answer a few questions about your trading experience, financial background, and investment objectives. This information helps Trade Nation to tailor their services to your needs and ensure compliance with regulatory requirements.
- To verify your identity, you will need to upload a copy of a government-issued ID (such as a passport or driver’s license) and a proof of residence document (e.g., utility bill or bank statement) dated within the last three months.
- Once your documents have been reviewed and approved, you will receive an email confirming the activation of your account. Depending on the verification workload, this process may take anywhere from a few hours to a couple of days.
- After your account is activated, you can log in to the Trade Nation platform, fund your account using your preferred deposit method, and start trading.
Trading Platforms: Web, Mobile, and Desktop
Trade Nation offers a variety of trading platforms to cater to the diverse needs of its clients, including web, mobile, and desktop platforms. Each platform is designed to provide a seamless and efficient trading experience, regardless of the trader’s preferred device or location.
- Web Trading Platform: Trade Nation’s web trading platform is accessible through any modern web browser without the need for additional downloads or installations. This platform is user friendly and features a clean, intuitive interface, making it easy for traders to navigate and manage their trades. Key features include real-time price quotes, customizable charts, a range of technical indicators, and one-click trading.
- Mobile Trading Platform: For traders who prefer to manage their investments on the go, Trade Nation offers a mobile trading app available for both iOS and Android devices. The app provides a responsive and feature-rich trading experience, including the same essential tools and functionalities as the web platform. Traders can monitor their positions, place orders, and access advanced charting tools, all from the convenience of their smartphone or tablet.
- Desktop Trading Platform: In addition to the web and mobile platforms, Trade Nation also supports the popular MetaTrader 4 (MT4) desktop platform. This powerful and widely-used platform is a favourite among professional traders thanks to its extensive range of features and advanced customization options. MT4 offers advanced charting capabilities, a plethora of technical indicators, automated trading through Expert Advisors (EAs), and access to a vast online community of traders and developers.
Tradable Assets and Markets
Trade Nation offers diverse tradable assets and markets, allowing traders to build a well-rounded portfolio and take advantage of various investment opportunities. The platform provides access to the following asset classes:
- Forex: Trade Nation offers a wide selection of currency pairs, including major, minor, and exotic pairs. Traders can take advantage of the highly liquid forex market and benefit from the platform’s competitive spreads and 24-hour trading.
- Indices: With access to numerous global indices, traders can speculate on the performance of entire market sectors and gain exposure to different economies. Popular indices available on Trade Nation include the S&P 500, NASDAQ, FTSE 100, DAX 30, and more.
- Commodities: Trade Nation enables traders to invest in various commodities, both hard and soft, such as precious metals (e.g., gold and silver), energy resources (e.g., crude oil and natural gas), and agricultural products (e.g., wheat, soybeans, and coffee). Trading commodities can be an effective way to diversify a portfolio and hedge against inflation or economic uncertainty.
- Equities: Trade Nation provides access to a vast range of global stocks and shares, allowing traders to invest in individual companies and profit from their performance. From well-established corporations to emerging startups, traders can choose from a variety of sectors and regions to tailor their investment strategies.
- Fixed Income: Although not as widely promoted, Trade Nation also offers access to fixed-income instruments, such as government and corporate bonds. Fixed-income trading can be suitable for conservative investors looking for relatively stable returns and lower risk levels.
Trade Nation Spreads, Fees, and Commissions
Trade Nation offers low, fixed spreads on its proprietary spread betting platform, ensuring that traders can manage their expenses effectively, even during volatile market conditions.
With Trade Nation, traders can benefit from a simple and transparent fee structure:
- Low Fixed Spreads: Trade Nation offers low, fixed spreads that remain consistent even during busy trading times. This cost-effective approach allows traders to maximize their profits without worrying about hidden costs or escalating fees.
- No Commissions, Deposit Fees, or Withdrawal Charges: The platform does not charge any commission on trades or fees for deposits and withdrawals, making it easier for traders to manage their funds and control their overall trading expenses.
- Overnight Funding: When trading on margin with Trade Nation, you only need a small percentage of the position’s overall value in your account. The platform effectively lends you the funds for the position and as a result, charges you interest on an overnight basis for long positions. Depending on interest rate levels, you may receive interest overnight on short positions. Overnight interest is calculated based on the 1-month interbank rate for the currency of the market you trade in. For long positions, Trade Nation adds 2.5% to the interbank rate. For short positions, if the 1-month interbank rate is below 2.5%, the overnight interest rate will be the difference between the interbank rate and 2.5%. If the 1-month interbank rate is above 2.5%, your account will be credited rather than debited.
- Deposit and Withdrawal – Trade Nation don’t ask for a minimum deposit before trading, or charge for withdrawal.
Customer Support and Service
Trade Nation is committed to providing excellent customer service to its clients and is highly spoken of on Trustpilot. Customers praise the platform for its responsive and knowledgeable support team.
They offer various channels for traders to seek assistance and get their queries resolved. Some of the customer support options include:
- Live Chat: Trade Nation offers a live chat feature on its website, allowing clients to connect with the support team in real time for quick responses and immediate assistance.
- Email: Clients can also email the Trade Nation support team for any issues or inquiries. This option is ideal for less urgent matters or when detailed explanations are required.
- Phone: Trade Nation provides phone support for clients who prefer to speak directly with a customer service representative. The phone number for customer support is +44 (0) 203 180 5952.
- FAQ: Trade Nation’s website also features a comprehensive FAQ section that addresses many common questions and concerns, providing quick access to information without the need to contact customer support.
Educational Resources and Market Analysis,
Although Trade Nation offers a variety of educational resources and market analysis tools for its users, these resources are somewhat limited compared to some other trading platforms. Advanced traders will want more around gaining a deeper understanding of the markets, technical analysis, and trading psychology.
Some of the key resources include:
- Insights Hub: This section offers expert insight, market reactions, and how-to tips. It covers a range of topics, including market news, trends, and economic events that may impact financial markets.
- Trading tools: Trade Nation offers a variety of trading tools to help traders make informed decisions. These tools can help you analyze market trends, identify potential trading opportunities, and manage your risks more effectively.
- Part-time to Pro: This collection of articles is designed to help traders transition from part-time trading to becoming professional traders.
- Trading explained: This section covers the basics of trading, including an introduction to various financial instruments, trading strategies, and risk management techniques. It aims to provide a comprehensive understanding of trading concepts for beginners and experienced traders alike.
Regulatory Compliance and Security Measures
Trade Nation takes regulatory compliance and security measures seriously to ensure a safe and secure user trading environment. The platform is regulated by multiple authorities across different jurisdictions, which helps maintain a high standard of financial conduct and accountability. Here are some of the key aspects of Trade Nation’s regulatory compliance and security measures:
- Regulatory Bodies: Trade Nation is regulated by several reputable regulatory authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) in Australia, and the Securities Commission of the Bahamas (SCB) in the Bahamas. These regulators have strict requirements regarding capital adequacy, financial reporting, and client fund protection, ensuring high transparency and security for traders.
- Segregated Client Funds: In compliance with regulatory requirements, Trade Nation keeps its clients’ funds segregated from the company’s own funds. This means that clients’ funds are held in separate bank accounts with top-tier banks, providing an added layer of security and ensuring that the funds are protected in the event of any financial issues with the company.
- Secure Website and Data Encryption: Trade Nation uses advanced encryption technologies to protect its website and client data. Sensitive information, such as personal details and financial transactions, is transmitted securely using SSL (Secure Socket Layer) encryption to prevent unauthorized access and data breaches.
- Negative Balance Protection: Trade Nation offers its clients Negative Balance Protection, ensuring they do not lose more money than they have deposited in their trading account. This feature helps protect traders from the risk of substantial losses due to market volatility or leverage.
- Risk Management Tools: The platform provides a range of risk management tools to help traders manage their risks effectively. These tools include stop loss orders, take profit orders, and various types of market orders. These tools allow traders to better control their potential losses and secure their profits.
Pros and Cons of Trade Nation
- Competitive Spreads: Trade Nation offers tight spreads on a wide range of instruments
- Regulated in Multiple Jurisdictions: The platform is regulated by several reputable authorities, including the FCA, ASIC, and SCB, ensuring a high level of transparency, accountability, and security for traders.
- User-friendly Platform: The trading platform provided by Trade Nation is intuitive and easy to navigate, making it suitable for both beginners and experienced traders.
- Good Customer Support: Trade Nation has a reputation for providing prompt and helpful customer support
- Negative Balance Protection: The platform offers Negative Balance Protection, ensuring that traders do not lose more than their deposited funds.
- Limited Product Range: Trade Nation offers a relatively limited range of instruments compared to some other platforms, which may not suit traders looking for a more diverse selection of assets.
- Limited Educational Resources: While the platform does provide educational resources, they may not be as comprehensive as some competitors offer, particularly for advanced traders seeking more in-depth materials.
- No MetaTrader Support: Trade Nation does not support the popular MetaTrader 4 and MetaTrader 5 platforms, which may be a disadvantage for traders who prefer using these platforms for their advanced features and customizability.
- Restricted Availability: The platform is not available to traders in the US.
Comparing Trade Nation to Competitors
Here’s a comparison of Trade Nation with some of its main competitors:
- Trading Instruments:
- Trade Nation offers a relatively limited range of instruments, including forex, indices, commodities, and shares.
- Competitors like IG, eToro, and XM may provide a more extensive range of trading instruments, including cryptocurrencies and ETFs.
- Spreads and Fees:
- Trade Nation is known for offering tight spreads, making it more cost-effective for traders.
- Competitors like IG and XM also offer competitive spreads, while eToro may have higher spreads but offers commission-free trading on stocks.
- Trading Platforms:
- Trade Nation has its own proprietary trading platform, which is user-friendly and accessible for both beginners and experienced traders.
- Competitors like IG, XM, and eToro also provide proprietary platforms. However, IG and XM support MetaTrader 4 and MetaTrader 5, which are not available on Trade Nation. eToro offers its unique social trading platform, which allows users to copy the trades of successful traders.
- Customer Support:
- Trade Nation has a reputation for excellent customer support, with quick response times and knowledgeable staff.
- Competitors like IG, XM, and eToro also provide good customer support, though the quality and response times may vary.
- Educational Resources:
- Trade Nation offers some educational resources, including webinars, articles, and market analysis, but they may not be as extensive as those provided by competitors.
- Competitors like IG, XM, and eToro offer more comprehensive educational materials, including video tutorials, in-depth articles, and advanced trading tools.
User Testimonials and Reviews
Trade Nation has an ‘excellent’ rating on Trustpilot, with an overall score of 4.6 out of 5 stars. This reflects positively on the platform’s quality and customer satisfaction. However, it is worth noting that the number of reviews is extremely small compared to some larger platforms (eToro has 20,000!), which could mean that the overall sentiment may not be as representative of the broader user base.
Before rebranding to Trade Nation, the platform operated under the name Core Spreads, where it had a 3.8-star rating out of 99 reviews. The lower rating and the limited number of reviews indicate that, historically, the platform may not have significantly emphasised gathering feedback and promoting its services through third-party review platforms.