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Trade Nation Review UK

Tobi Opeyemi Amure
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Trade Nation review UK

Trade Nation is a platform that you may be considering if you’re looking to trade CFDs and Forex in the UK.

However, with so many excellent platforms available, you may be wondering if Trade Nation is a good pick.

In this review, I will detail my personal experience with Trade Nation, so you can get an understanding of the platform, weigh up the pros and cons, and ultimately decide whether its features align with your goals.

Throughout this Trade Nation review, I’ll analyse the platform’s core features, rating them on a qualitative points-based scale. These points then translate into star ratings. For more information on how we test view here.

This article was reviewed by Tobi Opeyemi Amure, a trading expert and writer at InvestopediaInvesting.com, and Trading.biz.
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Overall Rating – 4.5 stars

Overall, I give Trade Nation a rating of 4.5 stars, based on an average of 83.6% and a total score of 75.2.

Trade Nation offers users an excellent trading platform, low non-trading fees, and great research tools.

However, the severely limited range of markets takes away from the overall appeal of Trade Nation.

Here’s a breakdown of how Trade Nation scored:

CategoryPointsStar ratings
Fees7.94
Safety9.45
Onboarding9.65
Deposit & withdrawal methods8.84.5
Markets5.52.5
Tools8.64.5
Investment & trading platform8.84.5
Education7.84
Customer service8.84.5

Here’s a rundown of the overall pros and cons of Trade Nation:

Pros

  • The trading platform is excellent
  • Low non-trading fees
  • FCA regulation
  • Awesome customer service

Cons 

  • The range of markets is severely limited
  • Educational content is geared toward beginners
  • Lack of fundamental data

Fees – 4 stars

Trade Nation has pretty good fees overall. Notably, no non-trading fees are charged.

However, the Forex fees are incredibly high and severely take away from the otherwise attractive fee structure.

Non-Trading Fees

Trade Nation does not charge its users any non-trading fees.

This means that withdrawals and deposits are completely free to make.

There’s also no account maintenance fee or an inactivity fee.

Trading Fees

On the plus side, Trade Nation’s CFD fees are pretty low compared to the market average.

A trade with $2,000 worth of Apple CFDs, for instance, would incur a charge of $3.60. Whereas other platforms such as Spreadex charge as much as $6.30 for the same trade. 

However, Trade Nation’s Forex fees are incredibly high. A 1-lot trade with a EUR/USD currency pair, for instance, would ultimately cost you $6 in fees. Interactive Brokers, on the other hand, charge just $4.20 for the same trade. 

This certainly isn’t a deal breaker, and some trades do work out cheaper than direct competition such as Plus500.

However, if you’re looking to minimise your trading costs, Trade Nation will likely disappoint you. 

Pros

  • No non-trading fees
  • Low CFD fees

Cons

  • Forex fees are very high

Safety – 5 stars

Trade Nation is a very safe platform, with a great track record and FCA protection.

However, the company’s financial health can be hard to assess due to the lack of publicly available financial information.

Background

Trade Nation was first founded in 2014 and has since shown the best part of a decade of legal conduct and financial savvy.

The company was, for instance, able to successfully navigate the collapse of the economy in 2020, and has never displayed any notable signs of poor management.

Regulation

Furthermore, Trade Nation is regulated by the Financial Conduct Authority (FCA) in the UK.

This is the hallmark for assessing the safety of UK trading platforms, as under the FCA, a company must act honestly and fairly.

Furthermore, if anything does ever go wrong, you’ll be protected up to the amount of £85,000.

Negative Bank Balance Protection

Another great protective measure that Trade Nation offers is negative bank balance protection.

This means that you cannot lose any more than the positive balance of your account, and if your account goes into a negative state for any reason, Trade Nation will cover that amount. 

It should be noted that negative bank balance protection is not offered to professional clients. 

Financial Records

The only sign of potential worry regarding Trade Nation’s safety is the fact that its financial records are not published, which means it’s difficult to assess the financial health of the company.

However, considering the track record of the company, this isn’t a major concern. 

Pros

  • Excellent track record
  • Negative balance protection
  • FCA regulation

Cons

  • Financial information is not freely available

Onboarding – 5 stars

Creating an account with Trade Nation is easy, verification is quick and there are a few different account types to choose from.

Overall, I couldn’t fault the process.

Account Types

Trade Nation offers two different account types, these being:

  • Individual: This is the best account for most traders and offers access to all of Trade Nation’s features for individual users.
  • Corporate: This account allows multiple users to access one account.

There is also a professional programme available for clients who meet certain criteria.

This account comes with several benefits such as higher leverage, balanced by greater risk.

Professional clients also lose out on some forms of protection, such as negative balance protection.

To create a professional account, you first need to create an individual account, and then contact Trade Nation to start the process of joining the pro program. 

I chose to open the standard individual account, as this best fit for most users.

Creating an Account

Creating an account with Trade Nation is a very simple process. 

To create an account, you first need to head over to Trade Nation’s website and click ‘Join Us.’

From here, you’ll need to enter some basic personal information, such as your name and email, before verifying your contact information.

Creating an account on Trade Nation.

Once your email has been verified, you’ll need to fill in a short form detailing more specific information, such as your level of trading experience.

After completing this, you’ll be prompted to send off two verification documents- one for proof of residency and the other for proof of ID.

Verification

The verification process was incredibly quick, and I was able to start trading the same day that I opened my account.

This makes Trade Nation a very attractive option if you’re looking to start trading as soon as you can. 

Pros

  • Accounts for individual, professional, and corporate clients
  • Onboarding was simple
  • Verification was quick

Cons

  • None

Deposit & Withdrawal Methods – 4.5 stars

Trade Nation’s deposit and withdrawal methods are near perfect, thanks to the non-existent associated fees, a wide array of base currencies, and a variety of deposit and withdrawal methods.

The only thing I missed was PayPal payments.

Base Currencies

Trade Nation offers a very attractive selection of eight base currencies, these being GBP, USD, DKK, NOK, ZAR, AUD, SEK, EUR, and SEK.

Being able to change your base currency is a great way to bypass any currency conversion fees, and the number of base currencies available means you’ll be able to trade a variety of assets in other markets without incurring heavy fees.

Currency conversion on Trade Nation.

Deposit Methods

Deposits are completely free to make with Trade Nation, and because there’s no minimum deposit fee, you can make as many deposits as you like without limitation.

Furthermore, there are a variety of ways to deposit funds to your account, including credit card, debit card, bank transfer, and Ewallet methods including Skrill and AstroPay.

However, some major Ewallet methods, notably PayPal, are not supported.

Withdrawals

Withdrawals are also completely free to make with Trade Nation and can be made to the same payment methods noted above.

Withdrawals can take anywhere from 1-2 business days, depending on your withdrawal method. 

It’s also worth noting that there is a minimum withdrawal of £50. This isn’t a deal-breaker, but does reduce your overall flexibility when withdrawing funds. 

Pros

  • Deposits and withdrawals are free to make
  • Plenty of base currencies offered
  • A variety of methods to deposit and withdraw funds

Cons

  • Some Ewallet methods, such as Paypal, are not supported
  • Minimum withdrawal fee of $50

Markets – 2.5 stars

Trade Nation’s range of markets is limited to Forex and CFDs.

However, the selection of Forex and CFDs is hardly impressive and feels sparse compared to other platforms.

A spread betting account is also offered.

Range of markets on Trade Nation.

CFDs 

Trade Nation’s primary asset is CFDs. As of the time of writing, you can trade with the following:

  • 1,100 Stock CFDs
  • 19 stock index CFDs
  • 9 cryptocurrency CFDs
  • 3 bond CFDs
  • 8 commodity CFDs

Overall, the CFD selection is very mediocre. Plus500, for example, offers 1,900 stock CFDs and 24 commodity CFDs.

The lack of ETF CFDs is another major drawback. 

Forex

Trade Nation also offers 36 currency pairs to UK clients.

This is a fairly good selection, however, compared to other platforms such as Spreadex, who offer 55 pairs, it does fall a little short. 

Spread Betting

Trade Nation also offers spread betting to UK clients.

However, for the majority of traders, spread betting is far too speculative to be viable as a trading strategy, and most people won’t find any value in this feature.

Other Markets

Aside from this, no other assets are offered through Trade Nation, meaning that major asset groups like underlying stocks, ETFs, and bonds are unavailable.

This severely limits your ability to diversify your portfolio and reduce risk when trading through the platform. 

Considering that the selection of CFDs and Forex is poor, Trade Nation’s overall range of markets is severely disappointing. 

Pros

  • Decent variety of CFDs
  • Major currency pairs offered
  • Spread betting account available

Cons

  • CFD and Forex selection isn’t particularly impressive
  • Many asset classes such as underlying stocks and crypto are missing

Tools – 4.5 stars

Trade Nation boasts a wealth of useful research tools, including great charting tools and a plethora of trading ideas.

However, the platform does not offer fundamental data.

Trade Nation tools.

Charting Tools

Trade Nation’s charting tools are nothing short of excellent.

There are 95 technical indicators to use, and charts can be edited and saved for future reference.

Trading Ideas

Even more impressive is the platform’s offering of Trading Ideas.

You’ll find this feature under the ‘Signal Centre’ tab, which offers two different types of signals.

Firstly, you’ll be able to benefit from fundamental signals, which give trading recommendations based on current market developments and financial news.

Technical signals are also offered, which are formulated through the analysis of historical data.

Overall, I found Trade Nation’s trading ideas to be some of the best out of any UK platform I’ve tested, and I was surprised at just how accurate they were. 

News Feed

Finally, Trade Nation offers market updates via its news feed.

This feed is pretty excellent all around and is very user-friendly thanks to the advanced filtering that you can conduct.

You can, for instance, filter news by trading level, or by release date, among other filters. 

Fundamental Data

Unfortunately, Trade Nation does not offer fundamental data, which will limit your ability to conduct deeper research on different assets.

However, the excellent charting tools and market updates do make up for this somewhat. 

Pros

  • Great selection of charting tools
  • Excellent trading ideas
  • Solid news feed

Cons

  • No fundamental data offered

Investment & Trading Platform – 4.5 stars

Trade Nation has both a web and mobile trading platform.

I found both to be easy to use, and there were plenty of quality-of-life features that made my experience even better.

However, I did miss price alerts on the mobile app. Added security via a two-step login would also make the platform even better.

Market Explorer on Trade Nation's trading platform.

Web Version

Trade Nation offers two different web versions – its platform and an MT4 platform.

I went for the pure Trade Nation platform, as this is best suited for most traders.

I was immediately surprised at just how good the web version looks. It uses a nice, bright, orange-and-white colour scheme, and everything was easy to find thanks to well-designed tabs.

There’s also a search bar that can help you find any asset within a few clicks. 

The only feature I would like to see implemented is two-step logins, which would make the platform feel much safer overall.

However, from a pure functionality perspective, it’s hard to fault Trade Nation’s web platform. 

Mobile App

The mobile app looks very similar to the web version, and I was a big fan of the continuity between each platform.

Like the web version, the mobile platform looks excellent, makes placing orders easy, and thanks to the search bar, you can find anything at a moment’s notice. 

My biggest complaint with the mobile platform was the lack of price alerts, which I found particularly frustrating seeing as the web version contains this feature. I would have also liked the option to turn on a two-step login.

Making a Trade

Making a trade through Trade Nation is a very simple process.

When you click on the asset that you’d like to trade, an order menu will pop up.

From here, you’ll be able to customise your order by choosing the number of assets you’d like to buy, and optionally turning on hedging.

You can also choose a variety of order types, including Market, Stop, Limit, Stop Limit, Trailing Stop, and Guaranteed Stop Loss. 

Making a trade on Trade Nation.

User Experience

My overall experience with Trade Nation was nothing but positive. 

Firstly, it took me no time at all to adjust to the platform, because of its easy-to-understand layout and excellent search functionality.

The overall continuity between the mobile app and web platform also made it easy to jump between platforms. 

The charting tools were also easy to get used to and made analysing the performance of different assets very simple. 

A final major positive was the fact that you can copy trade through Trade Nation via third-party platforms such as MT4.

Copy trading allows you to mimic the same trades of a professional trading account in real-time, and is a great way for beginners to build their experience. 

Day Trading

Trade Nation as a platform is suitable for day traders. The low CFD fees only add to this.

However, because of the limited range of markets, the overall viability of Trade Nation for day trading is somewhat limited, which is something to consider if you’re looking for a comprehensive day trading platform

Pros

  • Mobile and web versions look and perform excellently
  • Great search functionality
  • Copy trading supported

Cons

  • No price alerts on the mobile app
  • Safer two-step logins are not enabled

Education – 4 stars

Trade Nation offers a good amount of educational content through its learning centre.

There’s also a handy platform tutorial and a demo trading account to help you practice different trading strategies.

However, the content is overall very basic, and advanced traders may struggle to find value from it. 

Trade Nation trading tutorials and education centre.

Platform Tutorial

First of all, Trade Nation has a platform tutorial detailing how to use the platform and how to make the most out of all of its features.

I found this tutorial to be very informative and user-friendly and is a great way to get an overall feeling of the platform. 

Learning Centre

You’ll find the bulk of Trade Nation’s substantive educational content under the ‘Learning Centre’ tab.

This is full of lengthy articles, blog posts, and video content detailing trading strategies, explanatory videos, and market updates.

However, I did find this material to be very basic, and unless you’re a complete beginner to the trading world, you will probably struggle to find any valuable information from the Learning Center content. 

Another drawback to the Learning Center is that the articles and videos aren’t separated by experience level.

So, if you are a more advanced trader, you may have to sift through dozens of articles to find anything of value.

Similarly, if you are a beginner, there’s no clear-cut entry point. 

On the plus side, Trade Nation is beginning the process of creating more advanced content, such as the new Experts Explain series, which is a series of FAQ-style blogs written by trading experts. 

Demo Account

Finally, Trade Nation offers users a free demo account, which can be used to get an understanding of the platform and try out different trading strategies without the risk of losing your own money.

It’s not quite as extensive as some of the other demo accounts I’ve used but is nevertheless a nice feature.

Pros

  • Demo account offered
  • Platform tutorial
  • Educational articles and videos offered

Cons

  • Content is geared toward beginners
  • Content isn’t grouped very well 

Customer Service – 4.5 stars

Trade Nation’s customer service is near-perfect.

You can reach out in a variety of ways, and the team is very knowledgeable. However, 24/7 support is not offered.

Trade Nation customer service.

Phone Support

The first way you can contact Trade Nation’s customer support team is via phone call.

From my testing, the wait times were incredibly short and the agent was very helpful and able to walk me through the questions I had about the platform step-by-step.

Email

Email support is also available, and is surprisingly good.

You’ll normally receive emails within a few hours of sending them, and they are full of helpful advice and links to relevant articles and FAQ sections to address any other concerns you may have.

Live Chat

Finally, you can contact a customer support team member via Trade Nation’s live chat service.

When I tried the live chat, I was pleasantly surprised with how quickly I connected to an agent.

The agent was also extremely helpful, answering my question within the space of a few minutes. 

However, the live chat service is not available 24/7, which is a little disappointing. 

Pros

  • Email, phone, and live chat support offered
  • Fast response times
  • The customer service team is very knowledgeable

Cons

  • Support isn’t available 24/7

Final Thoughts

Ultimately, Trade Nation is an excellent platform in nearly every way.

The fees are low, the tools are great and the platform functions excellently.

However, Trade Nation is fundamentally let down by the severe lack of markets, which are limited to such an extent that, unless you want to trade a very basic selection of Forex and CFDs, you simply won’t find value from the platform. 

Top pick
Trade Nation - Best-priced fixed spreads
4.5

Access some of the lowest-cost fixed-spreads around, on the markets you most want to trade.

75% of retail investor accounts lose money when trading CFDs with this provider.

FAQs

What is the minimum deposit for Trade Nation?

There is no minimum deposit at Trade Nation. They don’t ask for a set deposit before you’re able to make a trade.

Is Trade Nation legit?

Yes, Trade Nation is a legitimate and regulated broker. It is registered in the United Kingdom by the FCA (Financial Conduct Authority).

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