Trade Nation Review
Trade Nation was originally launched in 2014 as Core Spreads. It was known as Core Spread until 2019 when the name was changed to Trade Nation. The intent was to have a name that resonated more with where they were heading to. This broker prides itself as a nation of traders.
The goal of its creation was to give customers a more efficient and satisfactory trading platform. It is headquartered in London, United Kingdom.
For traders wondering if Trade Nation is worth the try, this guide is for you. This article is a full analysis of the platform. At the end of this guide, arriving at a conclusion will be so much easier.
Features Of Trade Nation
The features on Trade Nation may not be completely different from the features on other brokers but they can be distinguished in the aspect of service delivery.
| Customer service | 24/5 |
| Licenses | 3 |
| Main currencies | 8 |
| Trading platform | CoreTrader 2 and MetaTrader 4 |
| Supported languages | 13 |
| Inactivity fee | None |
| Minimum deposit | $0 |
| Spread | Fixed |
Customer Service
The customer service representatives on Trade Nation are expert communicators with a great deal of patience and strong listening skills. They are available from Sunday 10PM GMT all through to Friday 10PM GMT. All issues reported to any of the agents are handled with utmost care and are resolved quickly.
The agents can be contacted via email or their phone number. Although live chats are not supported. The outlet provided have been efficient to traders. Experiencing trouble navigating the platform is very unlikely and where such an issue comes up, the customer service agents will be more than ready to help out.
Account Creation And Verification Process
Creating an account is mandatory to use the platform. This is quite easy. Traders can start the account creation process by going to the website and selecting the join button at the top left of the screen. A new page will pop up and here some details will be filled. This includes the first name, last name, email address and password.
A verification link will be sent to the email address. The user will have to log in to the provided email address and click on the link. It will then be displayed that the account has been confirmed. Logging in to the account is now possible. A prompt to complete the profile will be shown.
Updating the profile requires providing more details including the nationality, date of birth and country of residence. Trade Nation complies with anti money laundering and know your customers policy. In line with that, users must submit documents to verify details provided. The documents to be submitted must be valid. Expired documents will be rejected. A government issued ID and a proof of address file will suffice for this.
Documents will be verified by the team in charge. This usually takes a maximum of 24 hours. Afterwards, the account will be among the verified accounts and the user will be free to enjoy all the features on the platform.
The account creation and verification process is short and easy. With a couple of steps, anyone can have a verified account with this broker provided the necessary requirements are fulfilled.
Easy Interface
The brokerage site was designed intelligently. Everything on the platform is clear. Most traders are able to surf the site without any form of guidance. Also, there are tutorial guides to help traders who may still not understand how the interface is designed. There are alternative languages to English for people whose first languages are not English. About 13 other languages are supported.
Regulation
A broker is deemed reliable when it is licensed and regulated by identifiable bodies. Every broker tries to obtain licenses so that traders can differentiate good brokers from crooked ones.
Trade Nation is regulated by four different bodies responsible for the supervision of businesses that offer financial services. It is regulated by Financial Conduct Authority in UK, Australian Securities and Investment Commission, Financial Sector Conduct Authority in South Africa and Securities Commission Of Bahamas.
Education
This broker solidly believes that learning has no end. The site is loaded with an excess of educational resources all at the trader’s disposal. There are so many courses taught by experts available here. The courses are thoughtfully broken down into many bits and each section is explained in detail. Traders would find courses on practically anything they can imagine. From how to use charts to executing trades, navigating the platform and many more.
For traders with a liking for books, there are great books by popular authors, long detailed guides and articles to help traders get a firm hold of how the market works. Experienced and beginning traders stand a lot to gain as this broker provides quality resources capable of fine tuning one’s preexisting knowledge.
Trading Tools
Trading tools play a huge role in making the trading process easy for traders. This is one feature all traders must properly assess before selecting a broker. There are so many trading tools a trader can make use of currently.
Charts and graphs are invaluable when it comes to price analysis. Indicators guides a trader’s move. Calculators are great for forex trades, analysis and predictions.
This broker offers its users a variety of trading tools. There are different forex calculators, graphs, charts for different commodities and a long list of indicators. These tools are provided to all account owners regardless of the account type being operated.
In the tutorial section of the website, there are lots of videos and guides explaining how each of this tools can be used and what they stand for. Most brokers provide the tools and stop right there. Trade Nation has gone the extra mile to completely groom traders for what the market entails.
Transparency And Fairness
This broker takes so much pride in upholding the value of transparency and integrity. Anyone who has been in the industry for some time is surely aware of how some brokers practice trickery in a very deceptive way.
Charges are made for services that are not rendered. This act is carried out under the guise of spreads or trade executions and credits. Many unsuspecting traders fall into this trap with no idea that they are being duped by very deceptive companies.
This is one of the reasons this broker was created. Traders are given a more profitable option on this site. Incidences of hidden and under cover charges can never see light with this broker. It upholds the finest standards of integrity and transparency in all of its doings. Areas in the transaction process where charges are to be made are done with honesty. What traders are told to expect is what ends up playing out. No hidden charges, no hidden costs and a 100% fairness in all dealings.
Fixed Spread Rates
Spreads are brokerage charges deducted when some exchanges or transactions are carried out. There are lots of brokers with spread rates that are not fixed. This translates to unexpected increase in spread rates which often cuts a reasonable percentage from trader’s profit. There are instances where brokers capitalize on an increased level of market volatility to extort funds from traders. Spreads rates are increased at this period.
A broker like Trade Nation that strongly supports the values of fairness and transparency places fixed spread rates. The rates are proportional to the volume of trades being executed. Traders can calculate the amount that goes to the broker before a trade is done hence there is a clear profit expectation.
In cases where the markets goes wild and volatility levels climb higher, spread remains the same as the rates are fixed. The disturbing feeling that comes with trading on a platform with an unstable spread rate is absent here. There are no increased charges of any kind.
This is wonderful as traders can feel safe. There is no greater joy than being able to trust your broker when it comes to trading. The certainty that activities carried out behind your back are in line with the agreement is amazing. This makes it easy for traders to concentrate on increasing their profits from the market. All distractions are totally eliminated.
Minimum Deposit
The minimum deposit is the amount a trader must invest in a platform before trades can be made. This amount is used in funding the wallet and determines the amount of profit traders can make from their trades. Usually, the higher the investment, the higher the profit.
Traders are cautioned against being greedy for profit in this regard as everything in the market in uncertain and losses can happen at virtually any time. This is the reason why most brokers have fixed amounts that a wallet can be funded with.
Some brokerage sites have their minimum deposits fixed at very high amounts. While this may be okay to some brokers, many brokers would not be able to trade using those platforms. This is because they might not be able to come up with the required fund. Other brokers set very low fixed minimum deposit amounts and this is quite favorable to a large number of brokers.
However, restrictions can be very annoying to some traders. Trade Nation does not agree with the notion of having to dictate to traders on the amounts their wallets should be funded with. Based on that, there are no fixed minimum deposits. Traders can fund their wallets with any amount they are comfortable with and trade on any market of their choice. Freedom to tread the market on your own terms is guaranteed on this site.
Maximum Deposit
This a common restriction brokers place on accounts. It is usually done with the intention of guiding the amount traders use in the market to minimize losses. However, there is no restriction for maximum deposit on this brokerage site.
Guides are made available and there are lots of lessons on risk management. Traders are advised not to place an amount they cannot afford to lose. It left to individual traders to set a suitable maximum deposit to work with.
Deposits And Withdrawal Fees
Majority of brokers have fees attached to withdrawal and deposit transactions. Some of these fees are very high. It very often takes so much from the trader’s investment. Other brokers have comparatively low fees yet these fees tend to add up to mountains considering the amount of transactions a trader will be executing regularly.
Very few brokers charge zero fees on deposits. A reasonable number of brokers that remove the deposit fee feature have withdrawal fees that traders must pay. Some fees are averagely okay but others are quite high.
Trade Nation tries to ensure that traders do not experience hardship of any sort. In this vein, they have scrapped out fees completely from the platform. Traders can make deposits and apply for withdrawals as often as possible knowing that no fees will be charged for these transactions. There are always on the look out to give traders an improved trading experience.
News And Updates
Making informed trading decisions guarantee a higher level of trading success. This can only be possible when the trader knows what is happening in the market. Most brokers provide a news section on their website where traders can acquaint themselves with the latest happenings. It is easier to trust news posted by brokerage sites and they are often verified and not just for acquiring traffic. Yet, several brokers fall short when it comes to updating their platform regularly.
This is something that traders on Trade Nation constantly enjoy. There are regular updates on occurencies in the market. It has been labelled as the number one place traders can turn to for forex news, cryptocurrency highlights and other market information. The consistency of updates makes it a lot more reliable. Before traders take the step to execute a trade, they are already aware of the most recent changes that could affect the dynamics of the market. So, it becomes possible for these traders to navigate the market safely.
Accessibility
With a strong internet connection, every trader should be able to trade from anywhere in the world. Unfortunately, not all brokerage sites are this accessible. This can be linked to several factors. Moreover, accessibility of a broker is a major factor in deciding what broker to go with.
Trade Nation is available to traders in all countries with the exception of traders living in US, Iran, Syria, and North Korea. Their services are open to all the other countries so traders that live outside these zones can gain access.
Anyone can sign in to the platform and start trading via the website or apps. There is an Android app for android users, an IOS app for IOS devices and the website which can be accessed using a smart phone, IPhone or a Laptop. Browsers recommended for this purpose include Safari, Google Chrome, FireFox and Microsoft Edge.
Account Types
There are three account types available here. There is the demo account for beginning traders who want to practice, an individual account for individual traders and a cooperate account for business that trade on people’s behalf.
The features of each account are well suited for any kind of trader. With the demo account, a trader is granted a virtual portfolio. The virtual funds are used in trading in the market. The way actual trades are carried out can be understood here. It is an important learning resource for traders who want to practice what they have learnt especially beginning traders who are not yet equipped to manage the risk that comes with the real market.
The individual account has all the essential features a trader would need. There are trading tools, softwares and features to help in maximizing profit while reducing the incidence of loss. An example of such feature is the order command. This account type can be opened from the website’s sign up page.
The corporate account type is perfect for businesses. It gives room to carry out trades efficiently. Before anyone can open such an account type, the documents containing the business’s information should be sent to Trade Nation’s email. The documents will be reviewed and feedback will be given. Then, if the documents are accepted, the account creation process can continue.
Main currencies
There are 8 main currencies supported. Traders whose fiat currencies do not fall in this category can by pass this by opening an account that allows multiple currencies. This is possible via online banks.
The currencies allowed here inlcude USD, GBP, EUR.
Payment Channels
The payment channels supported by a broker gives you the idea of how easy or difficult placing withdrawals or making deposits can be.
There are so many payment channels allowed here. Payments can be made via bank cards like credit and debit cards, other payment gateways like Neteller, Skrill and many others.
Trading Platform
CoreTrader 2 is Trade Nation’s trading software. This is one of the most powerful trading softwares. It is known for powering smooth trades where system lags and time loss is inexistent. It also makes use of an external trading software, MetaTrader 4.
Conclusion
Trade Nation is a broker founded on the principle of providing traders with a better experience. The features and regulations put in place is a direct reflection of the company’s values. They deliver what they promise. And while this broker is not without a shortcoming, it is by far, one of the best brokers any trader can use.
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