Trade Nation review
Trade Nation broker review.
Trade Nation offer a number of different options from a fixed spread account to a tight variable spread option. The fixed spread accounts are generally spreadbet accounts and the variable rates are offered on CFD accounts unless you actually request a spread bet version. Their general goal is to offer fast execution with low trading charges.
Account type: Spreadbetting (CFD’s if MT4 unless Spread betting requested)
Markets: Forex, Indices, US shares, UK shares, commodities
Category: Market Maker
Status : All traders
Website : www.tradenation.com
Regulation: FSCA, ASIC, FCA, SCB
About Trade Nation
Trade Nation was previously trading as Core Spreads. They set their focus on; low trading costs; Technology, they opted for speed over bells and whistles; And customer service which they have continued to improve. They are always looking at ways to improve the offering, this includes Signal Service for those traders looking for trading ideas.
Their spreads are amongst the lowest you will get out there and their execution is excellent. They do offer an MT4 option which now comes with tight variable spreads with no commission and is as fast as MT4 accounts can be. Overall the offering is suitable for day trading, swing and position trading.
The Platform
You would not be selecting this broker if you want an all singing and dancing trading platform. It is very basic but very fast which is there aim. It is ideal for beginners and regular traders.
It is easier enough to work around. I think that the lack of distractions on a brokerage is a good thing. You can find all the data elsewhere if you are that way inclined.
You can hedge on the platform, so you can use it for both day trading and swing trading. Just remember to click on the hedge option on the deal ticket if you wish to do this.
After doing my initial review on the platform I discovered how to set up your own watch list. Note that the full platform does not show up when you view it on a web page, you need to scroll to the right.
The Charts
The charts are not flash but are simple and basic with the added functionality of being able to trade directly from them. It would be nicer if you could actually see where your entry is and your stops and targets are on the chart but this is no game changer.
You can always opt for the Core MT4 option if you prefer the functionality of this but you will lose out on the fixed spreads.
Key data
Spreads*:
- EUR/USD 0.3
- GBP/USD 0.6
- USD/JPY 0.3
- AUD/USD 0.4
- USD/CAD 0.8
- AUD/CAD 1.3
- GBP/JPY 1.3
*These spreads were taken from their Mt4 account on 21st August 2023. These may be higher in the current market conditions.
You can download their full spread list for both the web platform and the spread and fees for the MT4 platform from the links below.
Opening an account
If you opt to use an MT4 account the spreads are variable. If you are happy using their simple web platform then you can get the fixed spreads.
As with most brokers these days opening an account is quite simple and can usually done and funded in less than a day.
Risk warning
Financial spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
You can read more about risk by clicking here. We strongly recommend that you fully understand the risk in trading before opening an account with any broker.