Trade Nation Review
Trade Nation is a global forex, indices, commodities, shares and crypto broker, which prides itself on being fair and transparent. Read our 2024 review of Trade Nation’s trading platforms, apps and market offerings to find out whether you should open an account. We also break down the brokerage’s regulatory status, trading fees, and leverage opportunities.
Company History & Overview
The online broker was known as Core Spreads from 2014 to 2019. The company has since expanded globally under Trade Nation and is regulated by the FCA in the UK, the ASIC in Australia, the FSCA in South Africa, the SCB in the Bahamas, and the FSA in the Seychelles.
The firm facilitates straightforward financial market access by removing complicated jargon and providing customer support throughout the trading process.
The company also offers alternative data and market insights to help switched-on investors make informed trading decisions. Additionally, traders benefit from competitive fees and market-leading trading tools.
Trading Platforms
Trade Nation offers its own trading platform in addition to the popular MetaTrader 4 (MT4).
Made To Trade
The bespoke platform is intuitive and provides flexible charting functionality through a sleek user interface.
When we used Trade Nation, we found a multitude of interactive graph styles were available such as histograms and candle charts, as well as the ability to vary timescales from one minute to one month.
It is also easy to overlay information on graphs, with a decent selection of drawing tools available. The optional deal button in the chart view means positions can be executed quickly.
Trade Nation accommodates first-time users by supplying several demonstration videos on how to use their platform.
The broker also provides the popular MT4 platform for forex trading. A demonstration video detailing how customers can link their Trade Nation account to the MT4 terminal is available on the broker’s website.
MetaTrader 4 is favored among investors due to its selection of customizable and interactive charts, plus the ability to run trading robots. It offers a selection of 38 built-in indicators and 2,000 free custom indicators for market analysis, as well as 24 analytical objects for detecting trends.
The MQL4 programming language enables users to write algorithms for automated trading, which can also be downloaded from the MT4 codebase. In addition, live trading signals are available in the MetaTrader marketplace.
How To Place A Trade
- Download the MT4 desktop software and log in. Alternatively, open the web trader
- Use the ‘Market Watch’ widget in the left of the platform to choose an asset, for example, the EUR/USD
- Click ‘New Order’ from the top menu
- Enter the trade size and any stop loss or take profit levels
- Input any comments (optional entry)
- Choose between ‘Instant Execution’ or ‘Pending Order’
- Click on ‘Sell’ or ‘Buy’ to place the trade
Assets & Markets
3.5 / 5
Trade Nation is transparent about its investment options, supplying a market information sheet with details of every instrument, associated spreads and trading hours. This includes 30+ forex pairs, 20+ popular indices (cash and futures), differential indices, a handful of commodities (energy and metals), bond options and shares from the UK, Europe and Asia. Cryptocurrencies are also available through the broker’s Bahamas entity.
In total, over 1000 assets are available, providing a wider range of trading opportunities than many alternatives.
Spreads & Commission
Trade Nation offers variable spreads on forex through its web dealing platform, allowing the broker to provide competitive fees on popular assets while reflecting market conditions.
Customers also benefit from fixed spreads on indices, commodities and bonds. This is good news for traders looking for upfront price transparency, though it is worth noting that the broker increased its fixed spreads in 2023.
Importantly, the company is open about its trading fees. Aside from spreads, the only other charge is overnight interest applied to opened positions. The amount depends on the market and the direction of the investment.
Trade Nation Leverage
The leverage offered depends on which financial authority the trader’s account is regulated by.
For FCA and ASIC regulated accounts, leverage up to 1:30 is available, which is the maximum rate available under these regulators. For FSCA and SCB accounts, leverage up to 1:200 is offered. For FSA Seychelles accounts, higher leverage up to 1:500 is available.
Note, traders should be aware of the risks associated with using leverage to increase position sizes. While margin trading offers the opportunity to enhance earnings on a given investment, it can also result in increased losses.
Mobile Apps
Made To Trade
Trade Nation provides an app for its investing platform which is available for iOS and Android users to download.
While using Trade Nation’s app, our experts found it was quick and easy to navigate, with the ability to create custom market watchlists. Both live and practice accounts can be managed from the app too.
MetaTrader 4
MetaTrader 4 also has its own app that enables users to invest in forex from anywhere, 24/5. The application has excellent reviews, providing complete control over trading accounts, in addition to financial market news and chat functionality.
Automated bots, plus one-click trading are available on the MT4 app. A selection of instant and pending order types can be used. The only downside is that detailed technical analysis is harder to complete than the desktop terminal.
Deposits & Withdrawals
The firm allows credit and debit card deposits using Visa and Mastercard. Additionally, funds can be deposited via bank transfer or using the digital wallet Skrill. Credit and debit card deposits are instant, while bank transfers can take up to three business days to arrive in Trade Nation accounts. UK customers can also use PayPal.
Importantly, there is no minimum deposit clause in place, making Trade Nation suitable for beginners.
Withdrawals are returned to the deposit source (card, Skrill or bank transfer) where possible to reduce the risk of fraud. All funds take up to five business days to arrive in accounts. The broker doesn’t charge any fees for deposits or withdrawals, however, your bank or third-party might.
The minimum withdrawal is set at 50 of the currency your account is in, for example, $50.
Demo Account
Trade Nation offers a free practice platform, where customers can test out investment strategies with $5,000 in virtual funds. We were impressed to discover that the broker provides a one-to-one walkthrough with the demo account, which can also be requested via a callback service on the website.
