Trade Nation is a broker that is well-known in certain geographical regions. This trade nation review will analyze whether all that buzz is worth it.
Brokers are the link/ intermediary between banks and retail traders. They ease the process of trading and make it as accessible as it can be.
However, some brokers have ill motives and do wrong to their trading clients. So, is a trade nation free from any form of malpractice?
To come to an answer in this review for Trade Nation, I deposited $100 to test services like trade fees, deposit and withdrawal fees, etc.
The main focus of this review is;
- My Findings
- My Personal Experience with Trade Nation
- Demo Trading on Trade Nation
- Trade Nation FAQ
- Is Trade Nation Legit?
- Advantages of Trade Nation Being Regulated
- My Findings
- My Personal Experience With Trade Nation
- Expert Opinion on Trade Nation's Services
- Demo Trading on Trade Nation
- Trade Nation Alternatives
|Spread||Fixed spread offered for majority of the trading day|
|Leverage||1:20- 1:200 (might vary due to region)|
|Deposit Methods||Wire transfer, Skrill, Visa cards, MasterCard, Bitcoin, Cryptocurrency|
|Withdrawal Methods||Wire transfer, Skrill, Visa cards, MasterCard, Bitcoin, Cryptocurrency|
Trade Nation Review Summary and Rating
Trade Nation is a forex broker well known for its great trading symbols and zero fees on deposits and withdrawals.
Trade nation is regulated in three countries.
Tons of trading symbols at your disposal
Chart IQ provides chart data
Zero charges on withdrawals and deposits
Copy trading available
Fixed spread for forex pairs
No cent or Islamic account is available.
The minimum lot size is 0.05
Educational content, especially on YouTube, is jarring
Is Trade Nation Legit?
Trade nation is, in fact, legal and regulated in three countries, namely, the United Kingdom, Australia, and South Africa.
The tier 1 regulators authorizing trade nations are the Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA).
Since regulators ensure that all brokers registered under them meet specific criteria, the best interest of every retail client is always prioritized; the same can’t be said for unregulated brokers.
It’s important to note they went by the name “Core Spreads” until 2019, but fret not; this doesn’t change anything in the grand scheme.
Also, Trade Nation sponsors West Bromwich Albion, a reputable club that embodies English football’s culture.
Hence, no signs of irregularities are at play, and funds will always be safe with trade nations.
Advantages of Trade Nation Being Regulated
Trade nation being regulated under tier-1 regulatory bodies will result in one of the best customer services.
Their customer service is available 24/7 with relatively swift responses, but they don’t always answer with the utmost clarity.
Most importantly, you can sleep soundly at night knowing your funds are safe and can be withdrawn when required.
The sign-up process was very straightforward, in all honesty. Once I filled in the columns shown below, the rest was self-explanatory.
But before a live account can be activated, some necessary documents must be provided. More specifically, an ID and a proof of address were to be mailed to a provided email address.
After roughly 14 minutes, I got verified, and a live trading account was provided and ready for a deposit!
Trade Nation’s Account Types
Unfortunately, Trade Nation only provides one account type, which I found disappointing. On the bright side, all of Trade Nation’s live accounts support MetaTrader 4 and 5.
Alternatively, the broker’s web trading platform can be utilized too. It’s a simple interface with 90 indicators and several trading tools.
Trade Nation’s Spread
They operate with a fixed spread for all currency pairs as opposed to what we’re all used to. This is one area in which this broker excels; spreads are low and fixed, which makes it much simpler for a trade to time precise entries.
Trade Nation’s Leverage
Trade Nation’s leverage isn’t terrible, but it’s average. It starts at 1:20 and goes all the way to 1:200.
Most brokers nowadays provide leverage of 1:500, and it’s almost the norm already.
To clarify, leverage is a means to heighten your purchase power more than the funds you have. In simple terms, brokers borrow traders’ money to increase their purchase power.
Although leverage can be a two-edged sword, large sums can be lost by overdoing it. But when appropriately harnessed, traders can achieve more significant gains.
Trade Nation’s Lot Sizes
The minimum lot size is 0.05, while the maximum isn’t mentioned anywhere on their website.
Typically, a lot size represents the number of units of a currency pair that can be traded simultaneously.
For example, lot sizes can range from as little as a nano lot (0.001) and scale up to several hundred. Trading lot sizes that large is only possible with the aid of leverage, as mentioned above.
Trade Nation’s Minimum Deposit
Trade Nation has no defined minimum deposit, so traders can choose to deposit any suitable amount of their choice, and no fees are charged.
Furthermore, Desired deposits can be made through wire transfer, Skrill, Visa cards, MasterCard, bitcoin, and cryptocurrency. Keep in mind that these options may vary due to geographical location.
To initiate a deposit, toggle to the top right corner and hover over your profile till a payment button appears.
Apart from deposits, withdrawals and internal transfers can be made under “payments” as well.
After that, click the live account of your choice to fund and choose a deposit method on the next page that appears.
Note: Trade Nation operates a return to source policy, so ensure the deposited method chosen will be the withdrawal route, and the minimum is 50 dollars. Withdrawing via a bank transfer and crypto takes a long while to process. I’d advise depositing and withdrawing with a Visa card or Mastercard.
Trading Platform(s) Available
Trade Nation has a web trading platform that’s accessible from their portal. Chart IQ, a chart provider with nearly as good a trading view, is powered its charts.
Sadly, there are about 90 indicators but very few trading tools, making it suitable for only beginners. Some cool perks exist, like price alerts and creating custom watchlists.
One good feature available is copy trading, powered by Activity Trading, which makes it easy to copy trading signals.
Trade Nation’s website contains helpful articles on market insights and trading strategies. I want these articles arranged under a dedicated blog page for more straightforward navigation.
They take this a step further with their YouTube channel, which barely pulls views, and it’s not a surprise since the content could be better, too.
According to their claims, they operate a 24/7 support system. Their customer support is quite alright. For example, I placed a complaint through a chatbot, and a response mail was issued 25 minutes later.
My Personal Experience With Trade Nation
Trading With Trade Nation
Knowing that tier-1 regulators regulated trade nations made me confident to deposit here to do this trade nation review.
Then, I submitted my documents by mail, got verified in just over 10 mins, and placed a deposit.
If you intend to trade here, ensure you make your deposit with a credit card so withdrawing will be easy. There’s no limit for deposits but a minimum of $50 for withdrawals; no fees are charged for either of these transactions.
There are 600+ trading symbols on Trade Nation, although most are stocks, crypto, indices, metals, and forex pairs.
Overall, trading here will suit the needs of beginners, but I wonder if it’d be enough for an advanced trader.
Setbacks Encountered With Trade Nation
The only thing I’ll hold against them is the crypto withdrawal- it’s terrible. There are way too many elements involved.
Initially, I was asked to submit certain documents to prove the initial deposit made. Then, later on, I had to sign an agreement to process the withdrawal- it took days.
Expert Opinion on Trade Nation’s Services
Trade nation offers sufficient trading instruments but needs more account types and higher leverage options.
Nonetheless, its fixed spread is very competitive, and price action traders will cherish this for entries.
Demo Trading on Trade Nation
We took the broker’s trading account on a spin with automated robots to determine how good the trading environment was.
As seen below, % gross profit of 11% was attained in 5 months. To get a suitable trading robot suitable for your trading style, visit here.
Trade Nation Alternatives
One thing missing from this broker is the absence of an Islamic account.
When a trade is held consecutively for more than a day, the swap fee gradually increases similarly to a loan’s interest. Therefore, making regular accounts unsuitable for Muslims, an alternative broker with swap fee accounts is attached below.
Conclusion: An In-depth Trade Nation Review
Trade nation holds quite a high reputation due to their regulatory licenses. The downside is the limited customization and lack of unique account types, which was mentioned in this Trade Nation review.
Although this broker’s simplistic approach provides an enjoyable user experience. The same can be said for their web trading platform; nothing fancy, but it does the job.