Trade Nation is a Forex and CFD trading broker that was established in 2014 under the brand name Core Spreads. This was eventually changed to Trade Nation in 2019 as a trading provider with products such as Forex, CFDs, indices, commodities, metals, stocks, bonds, and more.
With a commitment to transparency and security, Trade Nation prioritizes user protection and regulatory compliance. Traders can access advanced charting tools, educational resources, and real-time market data. The platform also offers competitive spreads and flexible account options. Keep reading this Trade Nation review to know more about this platform.
What are the Trading Platforms of Trade Nation
TradeNation provides the popular MetaTrader 4 (MT4) platform, as well as their own web-based platform and mobile apps. The MT4 platform is highly customizable and provides advanced charting tools, indicators, and automated trading options for experienced traders.
For casual traders, Trade Nation’s web and mobile platforms are simple to use with an intuitive interface. All platforms provide real-time data to help you spot opportunities and stay on top of your positions.
Whether you prefer desktop, web, or mobile, TradeNation has you covered with a platform to suit your needs. Their platforms are available 24 hours a day, 5 days a week so you can trade whenever markets are open.
Deposits, Withdrawals, and Account Funding
Deposits and withdrawals with Trade Nation are very simple. You can fund your account through credit/debit cards, wire transfers, and e-wallets like Skrill. The is $0. Here are some of the Trade Nation deposit methods:
- Credit/debit cards: Instant processing with a 2.9% fee.
- Wire transfers: Takes 1-2 business days to process but fees depend on your bank.
- E-wallets: Also instant with typically lower fees around 1-2%.
Withdrawing money is easy and fast. Just go to the withdraw funds page on Trade Nation’s website or app, choose your method (same options as deposits), enter the amount, and the funds will be in your account within 2 business days.
TradeNation doesn’t charge any withdrawal fees themselves. However, your payment provider may charge a small transaction fee. It’s best to check with them directly.
One downside is that TradeNation only accepts accounts in USD. If you deposit funds in another currency, they will be converted to USD at the current exchange rate which often includes high conversion fees. It’s best to deposit in USD if possible.
Trade Nation’s Fees and Commissions Structure
When using TradeNation, you’ll want to be aware of their fee structure. Trade Nation operates on a spread markup model, meaning they make money from the difference between the buy and sell price of an instrument. Spreads are variable and depend on the volatility and liquidity of the market. In general, spreads are competitive with other brokers.
For share trading, Trade Nation charges no commission. All you pay is the spread. Options and futures trading will incur exchange fees in addition to spreads. Trade Nation does charge a small fee for broker-assisted phone trades.
Deposits and withdrawals are free of charge. You can fund your account via debit/credit card, bank transfer, PayPal, and more. Withdrawals are processed within 1-2 business days.
TradeNation does not charge monthly or yearly account fees for standard accounts. They make money through spreads alone. However, inactive accounts (no login for over a year) may be subject to a monthly maintenance fee.
What is the Best Alternative for the Trade Nation?
Another option similar to Trade Nation is eToro. eToro is a multi-asset platform that allows you to invest in various financial markets such as stocks, ETFs, indices, commodities, and currencies.
Some key points about eToro:
- Commission-free trading: eToro does not charge any commissions for stock and ETF trades.
- Social trading: eToro’s social trading feature allows you to see what other traders are doing and copy their trades.
- Demo account: eToro offers a free demo account with $100,000 in virtual money so you can practice before putting in real money.
- Regulated: eToro is regulated by top-tier regulators such as the FCA, CYSEC, and ASIC. Easy to use. eToro’s platform is very intuitive and easy to navigate. It is suitable for beginners.
- No minimum deposit: You can open an account and start trading with as little as $50.
How to Create an Account on Trade Nation
Creating an account on Trade Nation is a straightforward process that involves a few simple steps. Trade Nation is a trading platform that allows users to trade various financial instruments, including stocks, forex, and commodities. Follow this step-by-step guideline to create your account:
Step 1: Visit the Trade Nation Website
Open your web browser and go to the official Trade Nation website. You can do this by entering “https://tradenation.com/” in the address bar.
Step 2: Click on “Sign Up” or “Open an Account”
Look for a prominent button or link that says “Sign Up” or “Open an Account.” This is typically located at the top right corner of the homepage. Click on it to initiate the account creation process.
Step 3: Provide Your Personal Information
You will be directed to a registration page where you’ll need to enter your personal information. This typically includes your full name, email address, phone number, and country of residence. Make sure to provide accurate information.
Step 4: Create a Username and Password
Choose a unique username that you’ll use to log in to your Trade Nation account. Create a strong and secure password to protect your account. Ensure your password includes a mix of uppercase and lowercase letters, numbers, and symbols.
Step 5: Agree to Terms and Conditions
Before proceeding, carefully read Trade Nation’s terms and conditions, privacy policy, and any other relevant agreements. Once you’ve reviewed them, tick the box to indicate that you agree to the terms.
Step 6: Verify Your Identity
To comply with regulatory requirements, Trade Nation may ask you to verify your identity. This often involves providing a copy of your government-issued ID, such as a passport or driver’s license, and possibly proof of address. Follow the instructions provided for identity verification.
Step 7: Set Up Security Measures
Enhance the security of your account by setting up additional security measures, such as two-factor authentication (2FA). This adds an extra layer of protection to your account.
Step 8: Fund Your Account
After successfully creating your Trade Nation account, you may need to fund it before you can start trading. Now go for Trade Nation Login and follow the instructions to deposit funds into your account using the available payment methods.
Step 9: Explore the Trading Platform
Once your account is funded, you can explore the Trade Nation trading platform. Familiarize yourself with the features, tools, and available markets.
Is Trade Nation Legit or Scam?
Trade Nation is a legitimate online broker. It is regulated in the UK by the Financial Conduct Authority (FCA) and internationally by the Seychelles Financial Services Authority. Trade Nation commits to transparency and investor protection.
This platform offers trading on over 10,000 markets including forex, shares, indices, commodities, and cryptocurrencies. You can open a live account without depositing a single penny. Trade Nation does not charge any commissions on trades and instead profits from the spreads between buy and sell prices.
Overall, it is a reputable broker that provides a good service for casual traders and new investors looking to get started with online trading. While the spreads could be lower, the lack of commissions and low initial deposits make it an affordable option.
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Final Thought
So, You’ve got an idea on Trade Nation, one of the top CFD trading brokers. They offer a great platform for trading global markets with tight spreads and over 10,000 instruments to choose from.
The fees are reasonable and deposits/withdrawals are straightforward. While Trade Nation’s product range and trading conditions are attractive, always keep in mind that CFDs come with risks. Thank you all for reading this article.
