Trade Nation review and ratings

Established 2019
Location Australia UK South Africa Bahamas
Regulation ASIC, FCA, FSCA, SCB
Offices Sydney, London, Johannesburg, Nassau
Broker type MM
Leverage up to 1:200
Deposit from 10 USD
Spreads low  low
Platforms Web Specific
Instruments Currencies Indices Metals Energies Stocks Bonds
Funding methods Wire Transfer Credit Cards Skrill

Company information

Trade Nation group includes 4 related companies.

Trade Nation AU - located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
Trade Nation UK - located in the United Kindom, regulated by the Financial Conduct Authority (FCA).
Trade Nation SA - located in South Africa, regulated by the Financial Sector Conduct Authority (FSCA).
Trade Nation BS - located in the Bahamas, regulated by the Securities Commission of the Bahamas (SCB).

Be aware, UK company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
Unfortunately, AU company also has been imposed with trading leverage limitations by ASIC since the end of March 2021.
At the same time, BS company accepts European and Australian traders, so one can open a trading account there.

Availability

Trade Nation group accepts clients from all over the world, excluding USA, Canada, North Korea, Belgium, Algeria, Sudan and some other countries where forex trading is prohibited.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

30+ Currency Pairs Based on major and minor world currencies.
13 Indice Cash CFDs Based on baskets of different blue-chip stocks.
10 Indice Futures Based on baskets of different blue-chip stocks and US Dollar Index.
7 Metal Spot CFDs Based on Gold, Silver, Aluminium, Copper, Lead, Nickel, Zinc.
2 Energy Spot CFDs Based on Crude Oil (WTI, Brent).
3 Bond Futures Based on UK and EU government securities.
1000+ Stock CFDs Based on shares of AU, US, UK and EU companies.

Forex broker also offers own original trading instruments called 'differentials' (6 diffs based on indices, 1 diff based on oil brends, and 1 diff based on precious metals).

Comprehensive review

Formerly known as Core Spreads, Trade Nation is a relatively young company formed in 2019 that has registered entities in Australia, the UK, South Africa and the Bahamas. The broker has a strong focus on stock CFD trading, and offers users a proprietary web-based trading platform that is simple enough even for complete beginners to use.

As a forex & CFD broker that is regulated in multiple jurisdictions around the world, the trading conditions that are available from Trade Nation varies depending on the client’s country of residence. For example, Australian and UK/EU-based clients will generally be restricted to a leverage of just 1:30, in accordance with local regulations there. Meanwhile, other international clients trading under the broker’s offshore branch in the Bahamas can enjoy leverage of up to 1:200 on the most liquid instruments.

One way to get around the regulatory restrictions on leverage, however, is to sign up with a branch of the broker outside of the aforementioned jurisdictions, for example by using a VPN during the sign-up process. Still, it should be mentioned that this involves giving up some of the protections that also come with regulatory oversight, such as protections against loss of funds in case a broker becomes insolvent.

Taking a look at the trading instruments available, it’s clear that Trade Nation’s main niche is stock trading. The company offers trading in stock CFDs of more than 1,000 companies listed in the US, UK, EU and Australia, with fixed spreads of USD 0.04 in the US, 0.2% in the EU, 0.3% in Australia, and 0.1% in the UK. In addition, the usual selection of commodities, forex pairs, stock indices and bonds is of course also available.

Further, it’s interesting to note that Trade Nation is the only broker we have seen that says it is proud not to offer cryptocurrencies to its clients. In fact, the broker has dedicated an entire page on its website to explaining why it believes cryptocurrencies are unsuitable for traders, calling this type of trading “just gambling on coins that have no function.”

As mentioned in the introduction, the main trading platform offered by Trade Nation is a proprietary web-based platform that is fairly simple and straightforward to use, even for beginners. The platform provides access to all instruments supported by the broker, and since it is web-based it can run on any type of computer. What should be mentioned, however, is that the platform may be a bit too simplistic for more advanced traders. If that is the case, the classic MetaTrader 4 (MT4) platform is still available from Trade Nation for trading CFDs, although this option is not well advertised on the broker’s website.

One thing we do like with Trade Nation is the effort it has put in to make educational materials available for users. There are video guides on everything from platform set-up and charting, to how to choose the right market and how to develop a trading strategy. This obviously makes the move into trading much easier for new traders, and helps them take the step to set up a trading account with Trade Nation.

When it comes time to fund the trading account, Trade Nation offers a pretty basic selection of funding methods. For the time being, this includes only credit & debit cards, bank transfers, and Skrill. Accounts can be opened in either GBP, USD, EUR, AUD, ZAR, DKK, NOK and SEK, and there is no particular minimum deposit required to start trading.

For any issues that require customer support, the team at Trade Nation can be reached via email or a UK phone number. Unfortunately, the broker has not stated its support team’s working hours, and we are therefore not sure if true 24 hour support is available here.

In summary, we believe the transition this broker has made from previously being known as Core Spreads to now Trade Nation has been a good one. The company appears to have simplified its website and a lot of the customer-facing information, which is an improvement in our view. We also like the simple and intuitive proprietary web platform, which makes the move into trading easier even for complete beginners.

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