Best More Detailed Review Of Trade Nation Forex Broker 2023
2014 saw the launch of Trade Nation under the Core Spreads banner. In 2019, this was converted to Trade Nation, a trading platform offering products and services for CFD and forex trading online. The broker has offices in the Bahamas, South Africa, Australia, the UK, and Australia.
Making online trading more approachable, entertaining, and profitable has always been the company's goal, which also attests to its global presence and—what is more crucial—heavy regulation. To help traders in the UK, Australia, and other international locations, the broker operates local entities and provides its services locally.
The UK-based CFD and forex broker Trade Nation. Opening an account with Trade Nation is entirely digital, and there is no minimum deposit or withdrawal fee. Customers have access to top-notch educational and research resources. Customer service is excellent. The product line offered by Trade Nation is modest. There is merely a chatbot; there is no live conversation. Safer login options are absent from the desktop trading platform. Based on the evaluation of 500+ criteria and testing via the opening of a live account, BrokerChooser gave Trade Nation a grade of 4.0/5.
Previously known as Core Spreads, Trade Nation had a modest one-person office staff. It has succeeded in leading the market for traders who want to trade without paying high fees or big commissions since 2014. As a brand, Trade Nation has existed since 2019. Despite being more recent than many other brokers, it still has a lot to offer.
Trade Nation Pros & Cons
- Free deposit and withdrawal
- Good customer support
- Fixed spreads
- Good educational tools
- MT4
Cons
- Offshore entity
- Trading proposal and conditions vary according to regulation
- No live chat
Who Is Trade Nation Recommended For?
For traders looking for data that is a little off the beaten road, Trade Nation is advised. The broker makes advantage of alternate insights from "exclusive" data sources. This broker will appeal to those who value a straightforward, efficient platform. Both new and seasoned traders will value what Trade Nation has to offer because customer service is available 24/7, five days a week, which is very helpful for new traders. The Beginner Guides provided by Trade Nation are another tool intended to entice novice dealers.
People who are interested in the idea of "fair trading" should check at this broker more thoroughly. Trade Nation takes pride in being transparent, and its website is filled with articles explaining how brokerage fees operate and the rationale for their usage of fixed spreads. Any financial organisation or broker, including Trade Nation, should take note of the effort made to prioritise ethics.
- Leverage
Allowing you to employ leverage while trading forex is a terrific tool that could boost your profits. However, learning how to use leverage wisely is vital in order to reduce dangers as well, which operate in both directions.
Trade Nation provides leverage up to 1:200, allowing retail traders with very modest or no initial deposits to cover margins access to the FX market. Leverage can increase profits, but you should always keep in mind that losses might sometimes be greater than your initial investment.
- Accounts
Individual, Professional, and Corporate account types are available from the broker.
Clients can use the broker's practise and learning accounts to get accustomed to utilising the platform and trading the markets.
The broker offers a trading simulator, which is essentially a demo account, to its clients. This presents an opportunity to either set up a practise account to test your methods without risking any money or a live account to access all the platform features and begin trading with real money.
Top Trade Nation Features
Rebate of up to 20% each month*. Trade Nation's "Loyalty Scheme," into which clients are enrolled automatically, will provide benefits to devoted traders. Every time you trade, you get awards, and everyone who opens an account with this broker will immediately receive a bonus of 1,000 points. You can receive a cash reimbursement of up to 20% of your trading expenses through the loyalty scheme. One of the more generous rewards schemes available right now is this one. With accounts at Trade Nation UK and Trade Nation Australia, the loyalty bonus is not available.
Fixed Spreads 24/5. Fixed spreads are a key component of "fair trading," claims Trade Nation. This broker promotes openness, which is why it offers stable spreads and doesn't raise costs quickly in response to market volatility (like when the markets open or close). The set spreads, which are accessible 24 hours a day, five days a week, like Trade Nation's customer support (see below), would be appreciated by traders who want at least a little bit of consistency in this erratic sector.
Fees
Low fixed spreads are available from Trade Nation. No matter how much the markets change, their spreads stay low and constant. Their spreads remain constant from beginning to end, unlike variable spreads, which could be considerably bigger by the time you close your trade.
For new Trade Nation investors, there is no required minimum down payment. Only the amount necessary to cover their trade's required margin should be available to traders.
Debit cards, credit cards, and bank transfers are all accepted by the broker. Skrill is another method of deposit acceptance. Credit/debit card payments are immediate, however bank transfers may take several days to process.
Accounts in GBP, USD, EUR, AUD, and ZAR are available from Trade Nation. Also available are DKK, NOK, and SEK.
The minimum withdrawal amount is fifty dollars, or fifty dollars in the currency of your account.
Trade Nation has no minimum deposit requirement and doesn't charge any fees for deposits or withdrawals.
Trade Nation provides free credit card, bank transfer, and electronic wallet alternatives for deposits and withdrawals. However, there are just a few currencies available in the account base currency selection.
Source:
- https://55brokers.com/
- https://brokerchooser.com/
- https://www.investing.com/