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Trade Nation Review

Overall, Trade Nation is considered a low-risk and can be summarised as trustworthy and competitive. Trade Nation is regulated by the top-tier DFSA, FCA, and ASIC. Trade Nation offers two retail accounts. Trade Nation is currently one of the top-rated platforms with a Trust Score of 79% out of 100. Trade Nation is currently not regulated by the CMA of Kenya

Updated : August 31, 2022

Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Range of Markets

Fees

Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons

FAQ

Overall Rating

Min Deposit

USD 0 / 0 KES

Regulators

Trading Desk

Crypto

Yes

Total Pairs

33

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Trade Nation Overview

Trade Nation Review Overview 👉 Overall, Trade Nation is a low-risk platform with a well-designed trading app that is ideal for Kenyan traders. Trade Nation has low fees, a safe trading environment, and advanced solutions for a range of traders despite their trading style or experience. 👉 Trade Nation is well-regulated even though the entity does is not licensed by the Capital Markets Authority (CMA) in Kenya. Trade Nation has an average trust score and ensures client fund security by keeping funds in segregated accounts. 👉 Kenyan traders can use MetaTrader 4 with Trade Nation, but the broker is trying to promote the use of its proprietary app and platform. Fixed spreads and guaranteed stops are available on this trading platform, which provides a wide range of tradable assets. 👉 This Trade Nation review will provide traders with the details that they need to consider whether the broker is suited to their unique trading objectives and needs.

Distribution of Traders

Trade Nation Review Distribution of Traders 👉 The distribution of traders with Trade Nation is as follows: ➡️️​ South Africa – 24.6% ➡️️​ Philippines – 15.1% ➡️️​ United Kingdom – 14.8% ➡️️​ Italy – 11.8% ➡️️​ France – 7.6%

Popularity among traders who choose Trade Nation

🥇 Trade Nation does not have a large market share in Kenya, but the broker still falls within the Top 100 brokers and trading platforms for Kenyan traders.

Trade Nation At a Glance

🏛 HeadquarteredLondon, United Kingdom
🏙 Kenyan Based OfficeNo
✅ Accepts Kenyan Traders?Yes
🗓 Year Founded2014
📞 Kenyan Office Contact NumberNone
🤳 Social Media Platforms• Twitter
• Facebook
• Instagram
• YouTube
• LinkedIn
⚖️ RegulationFCA, ASIC, FSCA, SCB
🪪 License Number• United Kingdom – 525164
• Australia – ABN 93 158 065 635, AFSL 422661
• South Africa – 2018/418755/07, FSP 49846
• Bahamas – 203493 B, SIA-F216
⚖️ CMA RegulationNo
🚫 Regional RestrictionsThe United States
☪️ Islamic AccountNo
💻 Demo AccountYes
🛍 Retail Investor Accounts2
📊 PAMM AccountsNo
🤝 Liquidity ProvidersBarclays
💸 Affiliate ProgramYes
📲 Order ExecutionInstant, Market
📊 Average spreadFrom 0.4 pips
📞 Margin Call100%
🛑 Stop-Out50%
Crypto trading offered?No
💰 Offers a Kenyan shilling Account?No
👨‍💻 Dedicated Kenyan Account Manager?No
📊 Maximum Leverage1:200
🚫 Leverage Restrictions for Kenya?No
💰 Minimum Deposit (KES)0 Kenyan shilling
✅ Kenyan shilling Deposits Allowed?No, only GBP, USD, EUR, AUD, ZAR, DKK, NOK, and SEK
📊 Active Kenyan Trader Stats70,000+
👥 Active Kenyan-based Trade Nation customersUnknown
💳 Kenya Daily Forex Turnover$100 million+
💵 Deposit and Withdrawal Options• Credit Card
• Debit Card
• Bank Wire Transfer
• Bank Transfers
• Skrill
🏦 Segregated Accounts with Kenyan Banks?No
📊 Trading Platforms• MetaTrader 4, Trade Nation
✔️ Tradable Assets• Indices
• Stocks
• Precious Metals
• Forex
• Commodities
• Energies
• CFDs
💸 Offers USD/KES currency pair?No
📈 USD/KES Average SpreadN/A
📉 Offers Kenyan Stocks and CFDsNone
🗣 Languages supported on WebsiteEnglish
📞 Customer Support LanguagesMultilingual
⏰ Customer Service Hours24/5
👥 Customer Support LanguagesNo
✅ Bonuses and Promotions for KenyansNo
📚 Education for Kenyan beginnersYes
📱 Proprietary trading softwareYes
💰 Most Successful Kenyan TraderPatrick Mahinge (Net Worth – Private)
✅ Is Trade Nation a safe broker for Kenyans?Yes
📊 Rating for Trade Nation Kenya6/10
🤝 Trust score for Trade Nation Kenya79%
👉 Open an account👉 Open Account

Regulation and Safety of Funds

Trade Nation Review Regulation And Safety

👉 Trade Nation is positioned globally and operates through these entities:

➡️ United Kingdom – Trade Nation is the trading arm of Trade Nation Financial UK Ltd which is an entity that is regulated by the Financial Conduct Authority under 525164.

➡️ Australia – Trade Nation is the trading arm of Trade Nation Australia Pty Ltd which is regulated by the Australian Securities and Investment Commission (ASIC) under ABN 93 158 065 635 with an AFSL license under 422661.

➡️ South Africa – Trade Nation Financial (Pty) Ltd is registered under the number 2018/418755/07 in South Africa. Trade Nation Financial (Pty) Ltd is also regulated and authorized by the Financial Sector Conduct Authority (FSCA) as a Financial Service Provider (49846).

➡️ Bahamas – Trade Nation Ltd is a registered entity in the Bahamas (203493 B) and is regulated and overseen by the Securities Commission of the Bahamas (SCB) under license number SIA-F216.

👉 Barclays Bank in London holds client funds in separate bank accounts for Trade Nation, while client funds are held in Australia by Westpac for Trade Nation Australia. Trade Nation adheres to all applicable laws and regulations, including those relating to the safety of customer funds. Investor protection solutions of up to 85,000 EUR are available to customers in the United Kingdom.

Account Types and Features

Trade Nation Review Account Types

👉 Trade Nation only offers one retail investor account with two leverage options, namely:

➡️ Low Leverage Account (1:30)

➡️ High Leverage Account (1:200)

👉 Traders who register under FSCA and SCB regulation are eligible for leverage up to 1:200. However, traders who register via ASIC and FCA are limited to a leverage of 1:30.

👉 Once a trader has registered an account with Trade Nation, there are no fees or deposits to make. Traders wishing to open an account with Trade Nation may choose from a variety of different base currencies, including GBP, USD, EUR, AUD, ZAR, DKK, NOK, and SEK as their default.

👉 Despite the account type that Kenyan traders choose; they can expect the following typical spreads:

➡️ Wall Street 30 – 1 pip

➡️ US 500 – 0.14 pips

➡️ Gold – 0.4 pips

➡️ UK100 – 0.4 pips

➡️ EUR/USD – 0.6 pips

➡️ GBP/USD – 0.8 pips

➡️ Crude Oil – 3 pips

➡️ USD/JPY – 0.7 pips

➡️ Germany 40 – 0.9 pips

➡️ US Tech 100 – 0.8 pips

👉 Some typical margin requirements on the Low Leverage Account are as follows:

➡️ US 500 – 5%

➡️ Gold – 5%

➡️ UK100 – from 20%

➡️ EUR/USD – 3.33%

➡️ Crude Oil – 10%

➡️ US Tech 100 – 5%

👉 Some typical margin requirements on the High Leverage Account are as follows:

➡️ US 500 – 0.5%

➡️ Gold – 0.5%

➡️ UK100 – from 5%

➡️ EUR/USD – 0.5%

➡️ Crude Oil – 3%

➡️ US Tech 100 – 0.5%

Demo Account

Trade Nation Review Demo Account

👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital. 

👉 There is a certain degree of risk involved when trading financial markets and Trade Nation offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.

👉 With Trade Nation, traders can test their trading methods and Trade Nation’s features without risking any of their own money because of the broker’s native paper trading facilities.

Account Registration

👉 Traders can sign up for a Trade Nation account by visiting the broker’s official website and clicking on the “Join Us” link. Here, Kenyan traders will be presented with a simple registration form to fill out.

👉 To proceed with their application, traders must validate their email address by following the instructions in the email they received. Traders who have completed the account application process must next supply documentation proving their identity and place of residence.

👉 Kenyan traders will be able to begin trading after the legitimacy of their account information and documentation has been verified.

Trade Nation Vs IC Markets Vs FBS – Broker Comparison

Trade NationIC MarketsFBS
⚖️ RegulationFCA, ASIC, FSCA, SCBASIC, CySEC, FSA, SCBIFSC, CySEC
📱 Trading Platform• MetaTrader 4
• MetaTrader 5
• MetaTrader 4
• MetaTrader 5
cTrader
• MetaTrader 4
• MetaTrader 5
FBS Trader
• CopyTrade
💰 Withdrawal FeeNoNoneYes
📊 Demo AccountYesYesYes
📈 Minimum Deposit0 KES
22,900 KES110 KES





📈 Leverage1:30/1:200

1:500

Up to 1:3000
📊 SpreadFixed, from 0.4 pipsFrom 0.0 pipsFrom 0.0 pips

💰 CommissionsNoneFrom $3 to $3.5From $6

✴️ Margin Call/Stop-Out100%/50%100%/50%

40% and 20%
✴️ Order ExecutionInstant, MarketMarketSTP, ECN

💳 No-Deposit BonusNoNoYes
📊 Cent AccountsNoNoYes
📈 Account Types• High leverage
• Low Leverage
• cTrader Account
• Raw Spread Account
• Standard Account
FBS Cent Account
• FBS Micro Account
• FBS Standard Account
• FBS Zero Account
• FBS ECN Account
• FBS Crypto Account
⚖️ CMA RegulationNoNoNo
💳 KES DepositsNoNoYes
📊 Kenyan shilling AccountNoNoNo
👥 Customer Service Hours24/524/724/7
📊 Retail Investor Accounts236
☪️ Islamic AccountNoYesYes
💵 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade Size50 lotsUnlimited500 lots

Trading and Non-Trading Fees

Trade Nation Review Trading And Non-Trading Fees

👉 Trade Nation offers Kenyan traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️ Trade Nation

Desktop Platforms

Trade Nation Review Desktop Platforms

➡️ MetaTrader 4

👉 An extensive set of built-in market analysis and trading tools are available on the MT4 platform. In addition to a wide range of charting options and timeframes, it also supports several different order types, expert advisors (EAs), one-click trading, and a host of other features.

WebTrader Platforms

Trade Nation Review WebTrader Platforms

➡️ MetaTrader 4

➡️ Trade Nation

👉 Trade Nation provides the use of MetaTrader 4 (MT4), a popular trading platform. Millions of CFD and FX traders across the world rely on MT4, an innovative trading platform that is also very easy to use.

👉 This proprietary web-based platform allows traders to focus on the most critical aspects of their development to achieve their full potential. The Trade Nation platform provides a wide range of charting options in a user-friendly environment.

Trading App

Trade Nation Review Trading App

➡️ MetaTrader 4

➡️ Trade Nation

👉 In addition to the powerful trading platforms offered through MetaTrader 4 web and desktop versions, Trade Nation also supports the use of MT4 on iOS and Android devices, providing Kenyan traders with the flexibility they need to trade and manage their trading account while they are on the move.

👉 There are 12 interactive graph kinds, drawing tools, and the option to change the timelines from one minute to one month on the Trade Nation platform’s trading platform. Limiting losses is as simple as putting orders to guarantee that deals exceeding the trader’s risk appetite are immediately exited.

👉 Apps for Android and iOS are available for download on smartphones and tablets. This provides traders with the advantage trade while they are on the go.

Range of Markets

Trade Nation Review Range of Markets

👉 Kenyan traders can expect the following range of markets from Trade Nation:

➡️ Indices

➡️ Stocks

➡️ Precious Metals

➡️ Forex

➡️ Commodities

➡️ Energies

➡️ CFD

Broker Comparison for Range of Markets

Trade NationIC MarketsFBS
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesYesYes
➡️️​ ETFsNoNoNo
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyNoYesYes
➡️️​ OptionsNoNoNo
➡️️​ EnergiesYesYesYes
➡️️​ BondsNoNoNo

Trading and Non-Trading Fees

Spreads

Trade Nation Review Spreads

👉 Trade Nation charges a set spread that does not fluctuate with the market, allowing traders to know exactly how much they will be making at any given time. Among Trade Nation’s spread expenses are:

➡️ Wall Street 30 – 1 pip

➡️ US 500 – 0.14 pips

➡️ Gold – 0.4 pips

➡️ UK100 – 0.4 pips

➡️ EUR/USD – 0.6 pips

➡️ GBP/USD – 0.8 pips

➡️ Crude Oil – 3 pips

➡️ USD/JPY – 0.7 pips

➡️ Germany 40 – 0.9 pips

➡️ US Tech 100 – 0.8 pips

Overnight Fees, Rollovers, or Swaps

Trade Nation Review Overnight Fees

👉 To determine the overnight costs charged by Trade Nation, we use the interbank rate for the financial instrument being exchanged for one month. To calculate the 1-Month London Interbank Offer Rate (LIBOR), Trade Nation adds a 2.5% and a 1.25% premium to the trader’s long position.

👉 When the 1-month interbank rate goes below 2.5%, a part of the trading account will be deducted. This implies that Trade Nation will remove 2.5% from the 1-month interbank rate, resulting in a rate of 1.5%.

Deposits and Withdrawals

Trade Nation Review Deposits And Withdrawals

👉 Trade Nation offers the following deposit and withdrawal methods:

➡️ Credit Card

➡️ Debit Card

➡️ Bank Wire Transfer

➡️ Bank Transfers

➡️ Skrill

How to Deposit Funds with Trade Nation

How to Deposit Funds with Trade Nation

👉 To deposit funds to an account with Trade Nation, Kenyan traders can follow these steps:

➡️ Traders must log in to their account using the credentials that they registered.

➡️ Traders can select the option to deposit funds from their account dashboard

➡️ Traders must select their deposit method carefully as their withdrawals will be processed through the same payment method.

➡️ Once a payment method is selected, traders can select their deposit currency and enter the amount they wish to deposit.

➡️ Depending on the payment method there could be additional steps or instructions that traders must complete before they can complete the deposit instruction.

How to Withdraw Funds with Trade Nation

Trade Nation Review How to Withdraw Funds

👉 To withdraw funds, traders can log into their Trade Nation account and select the option to withdraw funds. Traders must ensure that they have the right amount in their account before they withdraw, or the withdrawal will be canceled.

👉 Traders must select the payment method that they used when they deposited funds, enter the amount, and confirm the withdrawal before submitting the request.

👉 Once the request has been received, it will be processed during operation hours, typically within 24 hours, and the funds will be paid to the trader. Traders must ensure that the name in which they hold an account is the same as that with which they registered a trading account.

👉 Traders must also remember that certain payment methods will have a certain processing time depending on the method. While some methods offer instant withdrawals, others will take a few days to reflect in the trader’s bank account.

Trade Nation Education and Research

Trade Nation Review Education And Research

👉 Education materials and resources are available on Trade Nation’s website to assist traders to improve their skills and knowledge.

👉 Many educational tools and resources are available to traders who want to learn more about the markets and trading. To assist traders to get started with MetaTrader 4, Trade Nation has produced a video that walks them through the process of connecting their MetaTrader 4 accounts.

👉 “Trading explained” part of Trade Nation covers CFD trading, FX, spread, and signals in detail. Beginner guidelines and a trading simulator are also available to help new investors make well-informed investing selections. Trade Nation offers the following Educational Materials:

➡️ Learning Articles

➡️ Tutorials

➡️ Trading Guides

➡️ FAQ Section

➡️ Demonstration Videos

👉 Trade Nation offers Kenyan traders the following Research and Trading Tools:

➡️ News and Analysis

➡️ Experts’ Explanations

➡️ Trading Signals

➡️ Smart News

Trade Nation Affiliate Program

Trade Nation Review Affiliate Program

👉 It is Trade Nation’s goal to make the trading business more transparent and equitable for all traders. In terms of reliability and user-friendliness, Trade Nation is one of the best FX brokers out there.

👉 There are hundreds of well-known markets available to partner customers, as well as many trading platforms and a custom account homepage. As a further perk, Trade Nation provides a dedicated customer support team, cheap spreads, and a host of others.

👉 Trade Nation provides affiliates with a revenue-sharing plan, a CPA plan that pays a predetermined fee for every new client referred, and a hybrid plan that combines the best features of both.

Verdict on Trade Nation

👉 Trade Nation is an online trading broker that enables easy access to a variety of financial markets through a variety of user-friendly trading platforms for desktop, web, and mobile devices. Trade Nation is designed for customers that value openness and minimal trading costs.

 

👉 This broker is transparent about the services it provides and the fees it charges, and it provides a wealth of information to novice traders seeking to learn how to trade.

Trade Nation Current Popularity Trends

👉 According to Google Trends, Trade Nation has seen an increase in Google Searches in the past month. 

Trade Nation Review Google Trends

Trade Nation Pros and Cons

✔️ Pros❌ Cons
XM is a multi-regulated and multi-award-winning CFD and forex brokerThere is no KES-denominated trading account and Kenyan traders could face currency conversion fees
XM offers negative balance protection on retail accounts
There is a selection of retail trading accounts offered for every level of trader
XM accepts several trading strategies and welcomes beginners and professionals alike
There is a wealth of educational materials, research, and trading tools
Kenyan traders are accommodated and can make deposits in local currency
XM is known for its competitive trading conditions and transparent trading environment
Client fund safety is guaranteed

Frequently Asked Questions

 

Is Trade Nation regulated and by whom?

Yes, Trade Nation is regulated by FCA, ASIC, FSCA, and SCB.

Which trading platforms are supported by Trade Nation?

Trade Nation supports the use of these trading platforms:

  • MetaTrader 4
  • Trade Nation

What account types does Trade Nation offer?

Only two retail investor accounts are available via Trade Nation. Clients who register under FSCA and SCB regulation are eligible for leverage up to 1:200. However, traders who register via ASIC and FCA are limited to a leverage of 1:30.

What is the overall rating for Trade Nation out of 10?

Overall rating is 6/10.

Is Trade Nation suitable for beginner and professional traders?

Yes, Trade Nation is an ideal broker that can be used by beginner and professional traders.

8.7/10 - (21 votes)