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Tradenation review

Trade Nation Review

Overall, Exness is very competitive in terms of its trading fees and spreadsExness is a multi-regulated forex broker headquartered in Cyprus. Exness is regulated by FSA, CBCS, FSC, FSC BVI, FSCACySEC, FCA. Exness is currently not regulated by the CBN.

Updated : January 20, 2023

Jump to:

005 regulations book

Regulation and Safety of Funds

005 feature selection

Account Types and Features

006 add user

Account Registration

002 candlestick

Range of Markets

007 fees

Fees

001 cash withdrawal

Deposits and Withdrawals

003 research

Education and Research

002 affiliate marketing

Affiliate Program

008 auction

Final Verdict

004 review

Pros and Cons

001 question

FAQ

Overall Rating

Min Deposit

USD 0 / 0 NGN

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 Nigerian 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 Nigeria. Trade Nation has an average trust score and ensures client fund security by keeping funds in segregated accounts.

 

👉 Nigerian 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 Nigeria, but the broker still falls within the Top 100 brokers and trading platforms for Nigerian traders.

Trade Nation at Glance:

🏛️ HeadquarteredLondon, United Kingdom
🏛️ Nigerian Based OfficeNo
👍 Accepts Nigerian Traders?Yes
📅 Year Founded2014
📱 Nigerian Office Contact NumberNone
⚖️ RegulationFCA, ASIC, FSCA, SCB
🔎License NumberUnited Kingdom – 525164
Australia – ACN 158 065 635, AFSL 422661
South Africa – 2018/418755/07, FSP 49846
Bahamas – 203493 B, SIA-F216
⚖️ CBN RegulationNo
✴️ Regional RestrictionsUnited States
☪️ Islamic AccountNo
📈 Demo AccountYes
📈 Retail Investor Accounts2
📊 PAMM AccountsNone
📊 Liquidity ProvidersBarclays
Affiliate ProgramYes
📊 Crypto trading offered?No
🚀 Offers a Nigerian Account?No
💻 Dedicated Nigerian Account Manager?No
📈 Maximum Leverage1:200
📈 Leverage Restrictions for Nigeria?No
💳 Minimum Deposit (₦)0 Nigerian Naira
💳 Nigerian Naira Deposits Allowed?No, only GBP, USD, EUR, AUD, ZAR, DKK, NOK, and SEK
💰 Active Nigerian Trader Stats1.3 million
💰 Nigeria Daily Forex Turnover$1.25 million+
💳 Deposit and Withdrawal OptionsCredit Card
Debit Card
Bank Wire Transfer
Bank Transfers
Skrill
💰 Segregated Accounts with Nigerian Banks?No
💻 Trading PlatformsMetaTrader 4, Trade Nation
💰 Tradable AssetsIndices
Stocks
Precious Metals
Forex
Commodities
Energies
CFDs
🌐 Offers USD/NGN currency pair?No
🌐 USD/NGN Average SpreadN/A
📈 Offers Nigerian Stocks and CFDsNo
👨‍💼 Languages supported on WebsiteEnglish
👥 Customer Support LanguagesMultilingual
👥 Customer Service Hours24/5
👥 Nigerian-based customer support?No
💰 Bonuses and Promotions for NigeriansNone
✴️Education for Nigerian beginnersYes
📊 Proprietary trading softwareYes
💰 Most Successful Nigerian TraderUche Paragon ($20 million net worth)
✔️Is Trade Nation a safe broker for Nigerians?Yes
✔️Rating for Trade Nation Nigeria6/10
✔️Trust score for Trade Nation Nigeria79%
👉 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.

Overall Rating

Min Deposit

USD 0 / 0 NGN

Regulators

FSCA

Trading Desk

Crypto

Yes

Total Pairs

33

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

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 Nigerian 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.

Overall Rating

Min Deposit

USD 0 / 0 NGN

Regulators

FSCA

Trading Desk

Crypto

Yes

Total Pairs

33

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Account Registration

Trade Nation Review 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, Nigerian 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.

 

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

Trade Nation Vs FBS Vs OANDA – Broker Comparison

Trade NationFBSOANDA
🔥 RegulationFCA, ASIC, FSCA, SCBIFSC, CySECIIROC, ASIC, CFTC, NFA, FCA, FFAJ, MAS, MFSA
📱 Trading PlatformMetaTrader 4
Trade Nation
MetaTrader 4
MetaTrader 5
FBS Trader
CopyTrade
MetaTrader 4
MetaTrader 5
OANDA Web
OANDA Mobile
💰 Withdrawal FeeNoYesNo
💳 Minimum Deposit0 NGN400 NGN0 NGN
📊 Leverage1:30/1:200Up to 1:30001:200
📈 SpreadFixed, from 0.4 pipsFrom 0.0 pipsVariable, from 0.1 pips
💰 CommissionsNoneFrom $640 USD / 16,680 NGN
📊 Margin Call/Stop-Out50%40% and 20%Stop-out of 50%
📊 Order ExecutionInstant, MarketSTP, ECNMarket
💰 No-Deposit BonusNoYesNo
📊 Cent AccountsNoYesNo
📈 Account TypesHigh leverage
Low Leverage
FBS Cent Account
FBS Micro Account
FBS Standard Account
FBS Zero Account
FBS ECN Account
FBS Crypto Account
Standard Account
Core Account
Swap-Free Account
🔥 CBN RegulationNoNoNo
💳 NGN DepositsNoYesYes
🖥️ Nigerian Naira AccountNoNoNo
👨‍💼 Customer Service Hours24/524/724/5
📈 Retail Investor Accounts263
☪️ Islamic AccountNoYesYes

Trading and Non-Trading Fees

Trade Nation Review Trading And Non-Trading Fees

👉 Trade Nation offers Nigerian 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 Nigerian 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

👉 Nigerian 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 NationFBSOANDA
ForexYesYesYes
Precious MetalsYesYesYes
ETFsNoNoNo
CFDsYesYesYes
IndicesYesYesYes
StocksYesYesYes
CryptocurrencyNoYesNo
OptionsNoNoNo
EnergiesYesYesYes
BondsNoNoYes

Overall Rating

Min Deposit

USD 0 / 0 NGN

Regulators

FSCA

Trading Desk

Crypto

Yes

Total Pairs

33

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

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%.

How to Deposit Funds with Trade Nation

How to Deposit Funds with Trade Nation

👉 To deposit funds to an account with Trade Nation, Nigerian 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 Nigerian traders the following Research and Trading Tools:

➡️ News and Analysis

➡️ Experts’ Explanations

➡️ Trading Signals

➡️ Smart News

How To Minimize Risk While Trading? 

How To Minimize Risk While Trading? 

1. Use Stop Losses

👉 A stop loss is a trading technique that takes you out of losing trades at a predetermined level in order to limit your losses. Utilize stop losses to ensure a 1:1 risk-reward ratio and above in all your trades in order to limit losses and maximize profits on each trade. For example, if you’re setting your stop loss at 50 pips below your entry point, set your take profit at least 50 pips above your entry point.

 

👉 A 1:2 risk-reward ratio and above will ensure that you remain profitable even if the majority of your trades are losing trades. Using a 1:2 risk-reward ratio means that you should place your stop loss at 100 pips if you have a profit target of 200 pips and so on.

 

👉 If you are a more aggressive trader, you can use a 1:3 risk-reward ratio, where you risk 100 pips for a profit target of 300 pips.

 

2. Use Proper Lot Sizes

👉 Trading using proper lot sizes is crucial to your success as a trader. That’s because the lot size determines the value of each point of the currency pair you are trading. A standard lot typically refers to 100,000 units of the base currency you are trading. Therefore, trading a standard lot of the EURUSD currency pair puts the value of each point at USD 100.

 

👉 The lot sizes you trade should be proportionate to the amount you are willing to risk on each trade, which is directly related to the size of your account and your risk appetite.

 

3. Control Your Losses

👉 You should only risk 2% or less of your trading account on each trade. This will ensure that you can survive any losing streak while minimizing the drawdown on your trading account.

 

👉 Remember: losses in forex trading are not linear. A 50% loss would require a 100% gain in order to recover your original trading account level.

 

4. Use Leverage Carefully

👉 Most forex brokers offer to trade with leverage, and with Exness traders can enjoy up to 1:Unlimited leverage. While trading with leverage is one of the great advantages of trading forex, it can also increase the risk of losses if used incorrectly. Leverage works as a ratio, meaning that if you trade with USD 10 at a leverage of 1:50 your market investment will be USD 500. This means that, if your investment moves in a favourable direction, your profits would be 50x bigger than they would have been without leverage. However, this also means that your losses if the currency moves in an unfavourable direction would be 50x greater as well. Traders are therefore reminded to apply leverage with care.

 

5. Choose The Time Of Day That You Trade

👉 Most traders tend to ignore the impact of the time of day that they trade. However, traders who are active during periods of less volatility tend to be more profitable than traders who trade during periods of high volatility.

 

👉 The high volatility periods for different currency pairs vary, but can generally be summarized as the opening hours of the Asian sessions, the London/European sessions, and the New York/American sessions.

 

👉 Experienced traders who are trading European currency pairs, such as EURUSD and GBPUSD, typically trade during off hours from 7PM to 11AM GMT. However, this data applies to range of traders who trade following the existing trends but might differ for traders using other trading strategies, such as scalping.

 

6. Buy The Rumor, Sell The News

👉 Many traders like to stay abreast of news that affects the forex market, but this is very hard to do given that it is near-impossible to accurately predict what will happen at any given time across the globe. However, experienced traders typically keep abreast of economic releases from different countries, which generally have an impact on many currency pairs.

 

👉 In most cases, markets typically discount the news based on investors’ expectations, which means that by the time the news is released, the big moves in the affected currency pairs would have already taken place. Therefore, it is important to make trades related to major news events way before the actual news is released.

Alternative Brokers to Exness

Alternative Brokers to Exness

➡️ TD Ameritrade

➡️ AvaTrade 

➡️ ACY Securities

➡️ FXCM

➡️ Pepperstone

➡️ Webull

All About Trade Nations’ Rebate System

All About Trade Nations' Rebate System

How much rebate can I pay back?

👉 Rebate percentage can be set to be anything between 0% and 100%.

 

Payment schedule

👉 Rebates are paid daily to the selected referred clients who have closed any trades within the last 24 hours. Daily payments need to be approved by the partner.

 

👉 Once rebates are set up from your PA, rebates will be automatically calculated for the selected referred clients every time you receive rewards. Total daily rebates will then await your approval in the Approval section of the Rebates tab, or be automatically distributed if you have selected automated approval on rebates for specific referred clients; more information about this is available in the article about how to manage rebates.

Overall Rating

Min Deposit

USD 0 / 0 NGN

Regulators

FSCA

Trading Desk

Crypto

Yes

Total Pairs

33

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

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 Trend

👉 According to Google Trends, Trade Nation has increased in Google searches in Kenya in the past month. 

Trade Nation Current Popularity Trend

Trade Nation Pros and Cons

✔️ Pros❌ Cons
Trade Nation does not charge a minimum deposit, offering Nigerian traders with flexibilityThere is a limited selection of funding options
The broker offers transparent fixed financial spread trading across several asset classesThe spread costs are not the lowest in the industry
There is a powerful desktop platform, innovative mobile trading app, and web-based trading platformThere are leverage restrictions on the UK and Australian clients
There is commission-free trading offeredUnited States clients are not accepted
There is a wide selection of educational content and beginner guides as part of an all-inclusive education material packageInactivity account fees may apply
There is a dedicated customer service team offered
There is an active business community offered along with a dedicated affiliate program
Trade Nation offers international stability through a well-established regulatory framework
There is no deposit fee or withdrawal fee charged on deposit or withdrawal methods
There are several base currencies to choose from when registering a retail investor account

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.

9.4/10 - (23 votes)

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