After testing brokers in the UK that have spread betting, Trade Nation exceeded my expectations, especially in terms of overall trading experience and customer service. This review is based on my experience trading with a live Trade Nation spread betting account.
Trade Nation Summary
Of the 16 spread betting platforms that I evaluated, I ranked Trade Nation the 6th best with a rating score of 76/100. This reflects their mixed performance – strong in some areas, but less so in others.
I was particularly impressed with the trading experience on their TN Trader platform, which showed no signs of slippage and offered fast execution speeds.
That said, their trading costs were high compared to Pepperstone. This seems to be the case on a range of instruments, from currency pairs such as the EUR/USD, to shares.
They also fell short when it came to their range of products, especially their surprisingly limited variety of forex markets. I believe this broker could be ideal for traders focused on highly specific currency pairs like GBP/USD.
However, if you’re looking for a wider range of markets and lower overall trading costs, you might find better alternatives out there, like Spreadex.
While testing 16 brokers to find the best spreads, I found that Trade Nation’s performance was a little mixed, but generally competitive. For the EUR/USD, the broker averaged 1.20 pips, slightly higher than the industry average of 1.12 pips on variable spreads.
However, I should point out that Trade Nation tested strongly on other pairs. Overall, the broker ended up in sixth place for its spreads – which isn’t bad at all, really. There are better options, but there are plenty of worse options too.
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Spread Bet Spreads
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|---|---|---|---|---|---|
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1.20 | 1.30 | 1.30 | 1.20 | 1.70 |
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0.90 | 1.40 | 1.40 | 1.30 | 2.20 |
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0.80 | 1.10 | 1.40 | 1.00 | 1.40 |
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1.00 | 1.10 | 1.50 | 1.20 | 1.50 |
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0.90 | 1.20 | 1.40 | 1.10 | 1.80 |
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0.85 | 1.40 | 1.40 | 0.82 | 1.77 |
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1.10 | 1.30 | 1.60 | 1.20 | 1.60 |
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1.00 | 1.50 | 1.50 | 1.00 | 1.80 |
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1.00 | 1.30 | 1.60 | 1.30 | 1.50 |
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1.30 | 1.50 | 1.50 | 1.50 | 1.50 |
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0.90 | 1.20 | 1.60 | 1.50 | 1.80 |
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1.10 | 1.50 | 1.40 | 1.40 | 1.70 |
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1.20 | 1.50 | 1.50 | 1.40 | 1.80 |
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1.90 | 1.20 | 2.00 | 1.00 | 1.70 |
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1.40 | 1.70 | 1.60 | 1.40 | 1.80 |
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1.40 | 1.40 | 1.70 | 1.90 | 1.70 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2025
The standout performer in Trade Nation’s lineup was GBP/USD, offering a spread of 1.30 pips compared to the industry average of 1.53 pips. This significant difference showcases just how favourable the broker can be on certain pairs. You can see my detailed findings below:
| Trade Nation Average Spread | Average Industry Spread | |
|---|---|---|
| EUR/USD | 1.2 | 1.12 |
| AUD/USD | 1.2 | 1.26 |
| EUR/GBP | 1.3 | 1.35 |
| GBP/USD | 1.3 | 1.53 |
| USD/JPY | 1.2 | 1.26 |
| AUD/JPY | 2 | 1.86 |
| EUR/JPY | 1.8 | 1.85 |
| USD/CAD | 1.7 | 1.69 |
| USD/SGD | 2.7 | 2.81 |
I’ve developed a spread betting fee calculator to help you compare Trade Nation’s performance against other top brokers. You can use this tool to get a personalised view of how Trade Nation stacks up for your specific bet size.
Calculate Your Cost To Spread Bet
Total Cost of Spread Bet
Total Cost of Spread Bet
Total Cost of Spread Bet
Total Cost of Spread Bet
As for share trading costs, Trade Nation’s performance was also competitive, with a couple of patchy areas thrown in as well.
In my tests, they achieved an average commission of 0.18%, which is just slightly higher than the industry average of 0.17%. Interestingly, I found they performed best for UK and German shares. However, the broker was surprisingly expensive for US shares, at 0.25%. Here’s a breakdown of my findings:
| Share Category | Trade Nation Spread | Industry Average |
|---|---|---|
| UK Shares | 4pt | 5.19pt |
| US Shares | 0.25% | 0.16% |
| Geman Shares | 0.10% | 0.15% |
| Hong Kong Shares | 0.20% | 0.20% |
| Australian Shares | 0.15% | 0.17% |
Our senior analyst Ross Collins shared some of his own insights after using the broker himself:
“A positive I found for the provider is they don’t charge inactivity fees,” Ross said.
There are also no deposit or withdrawal fees, so the spread fees are Trade Nation’s primary source of income. To be honest, this should be the case for any broker.”
Our Verdict on Trade Nation’s Spread Betting Account Fees
I give Trade Nation a score of 6/10 for their spread betting account fees. While they weren’t the lowest for EUR/USD, they performed well in 6 out of 9 currencies tested, with GBP/USD being particularly impressive.
The broker provides access to its proprietary platform, TN Trader, and the popular TradingView platform, both of which are decent choices for technical analysis.
TN Trader is Trade Nation’s proprietary platform, and the only platform that gives you access to all its financial markets. On first impressions, I found the interface to be chart-focused, which I appreciate as it puts technical analysis at the forefront of the trading experience.
You can also customise your watchlists by the side of the chart, giving you quick access to your favourite markets.
One thing I liked about TN Trader was its impressive array of analytical tools. The platform offers 95 indicators and 35 drawing tools, including popular ones like Ichimoku and Fibonacci retracements – a large selection of tools compared to other proprietary platforms I’ve used.
This wide array allows you to apply your trading strategies with plenty of trading tools, without having to use third-party software or download extra indicators.
Another feature I found particularly useful was the built-in trading signals through its Signal Centre, a service run by Acuity. These signals offer daily technical analysis commentary for forex and indices, making it easy to find daily trading opportunities.
I think this is going to be especially beneficial if you day trade, as it will help by constantly providing new trading ideas to consider – especially on slow days.
Trade Nation also offers access to TradingView, which I found an excellent addition to their platform lineup. TradingView is known for its powerful charting capabilities, and it certainly didn’t disappoint during my testing.
I was impressed by the sheer number of tools available – over 100 built-in technical indicators, multiple chart types, and customisable layouts. TradingView grants you access to 10,000+ custom technical indicators and scripts developed by its trading community, allowing you to tap into the community’s expertise or find new trading strategies.
You can also develop your technical indicators and scripts using TradingView’s proprietary Pine Script language. However, it’s worth noting that, like TN Trader, you can’t automate your strategies with TradingView through Trade Nation.
One of TradingView’s standout features is its large social network. With over 30 million traders actively sharing ideas, strategies, and analyses, I found it to be an invaluable resource for learning from or reflecting on different analytical viewpoints. You can participate in discussions and even view live video streams of market analysis from other traders.
Another useful feature was the market scanner, which helps speed up the search for new bet ideas. This tool allows you to find different price action formations like candlestick patterns or set up alerts for when certain indicators meet your criteria, such as a 20 and 50 moving average crossover.
Trade Nation offers two mobile trading apps on iOS and Android, allowing you to access spread betting on the go.
The TN Trader mobile app provides access to its charts and indicators, enabling you to analyse markets while on the move. However, I was disappointed to find that the trading signals available on the web version were not accessible through the mobile app.
On a positive note, you can set up price level alerts and receive push notifications, allowing you to react to potential trade ideas or monitor your open trades even when you’re away from your desk.
As for the TradingView mobile app, it offers a similar experience to the web version of the platform, with access to all of its 100+ indicators. Like the TN Trader app, you miss out on some features, like the market scanner, but most of its excellent technical analysis tools remain intact.
Because TradingView syncs across its platforms, any alerts set up on the market scanner will now be sent to your mobile device. Keep this in mind, and place alerts carefully to avoid being overwhelmed.
Our Verdict On Trade Nation Trading Platforms
After testing the broker, I believe Trade Nation’s trading platforms deserve a solid 8/10. I’ve scored them well because of the inclusion of TradingView, which offers some of the most advanced charts of any platform. Additionally, TN Trader is a good alternative thanks to its charts and free trading signals.
However, I had to deduct points because neither platform offers automated trading features. Despite this limitation, Trade Nation’s platforms provide a stable foundation for spread betting, with various tools and features to support different trading styles.
Yes, Trade Nation is a safe spread betting broker. It’s regulated by the Financial Conduct Authority (FCA), which provides the strongest level of protection and oversight for financial services.
Financial Regulation
Trade Nation’s FCA regulation is great for instilling confidence as you trade. The FCA applies strict rules and conditions on brokers, protecting traders in the process.
For example, FCA-regulated brokers must segregate client funds from their own operating capital, which helps ensure that your money is safe even if the broker faces financial difficulties. Additionally, FCA-regulated brokers must maintain a certain level of capital, and submit regular reports.
I also like seeing brokers regulated by multiple financial authorities, as this indicates that they operate to the highest standards. The FCA regulates Trade Nation but other tier 1 regulators around the globe do too – such as the Australian Securities and Investments Commission (ASIC).
Additionally, the broker is also regulated by the Seychelles Financial Services Authority (FSA), the Securities Commission of The Bahamas (SCB) and the Financial Sector Conduct Authority (FSCA) in South Africa.
Meeting the requirements of multiple regulators is not easy, so this should give you confidence that Trade Nation maintains high standards for operating its services.
Reputation
In my experience, a broker’s reputation is built over time, and Trade Nation seems to have done well in this regard. Since its inception in 2014, it has accumulated several awards for its services.
One that stands out to me is the “Best Spread Betting Platform” award from ADVFN. This recognition suggests they’re not just meeting industry standards, but actually exceeding them in areas that matter.
Trade Nation Reviews
When I test a broker, I always like to look beyond my own experience and see what other traders are saying. That’s why I checked out Trade Nation’s TrustPilot reviews.
I’d say they’re doing pretty well. As of January 2025, they had achieved 1,015 reviews and an “Excellent” rating of 4.4 out of 5.
In my experience of reviewing 16 different brokers, I’ve noticed that the top performers usually score between 4.3 and 4.7 on TrustPilot.
Trade Nation’s 4.4 rating puts them solidly in this leading bracket. This score tells me that most customers have positive experiences with the platform, and this would seem to align with my testing.
Our Verdict on Trade Nation’s Trustworthiness
After considering all these factors, I’ve given Trade Nation an overall trustworthiness score of 7/10. This score reflects their strong regulatory standing with multiple tier 1 authorities, including the FCA and ASIC.
Their award-winning status and positive customer reviews also contribute to this solid rating.
Trade Nation offers a mix of traditional and digital funding methods, providing a better variety than most brokers. This blend gives you more flexibility in funding your Trade Nation Account.
Trade Nation has no minimum initial deposit requirement on any of its deposit methods, which is something I like to see. No minimum deposit requirements make dipping into the forex and financial spread betting markets easier, without feeling pressured to commit large sums upfront.
Trade Nation supports GBP, USD, and EUR as base currencies. However, you’ll only be able to spread bet with the GBP, using the USD and EUR for trading CFDs and other instruments instead.
You have a choice of three primary methods to fund your account: debit card, bank transfer, and e-wallet like Apple Pay, Nuapay, Astropay, Skrill, and Neteller.
All these options carry the same minimum deposit requirements. And, more importantly in my view, there are no fees for using them. This is definitely a plus for me.
While testing the broker, I used the debit card method and found the payment was processed instantly, allowing me to start trading without delay. If you wish to deposit using one of the e-wallet options, they are also processed immediately.
However, it’s worth noting that bank transfers can take up to 5 business days before the funds appear in your trading account, making it the slowest option.
For withdrawals, Trade Nation states that processing for all methods can take up to 5 business days. I think they’ve set this as a high threshold to manage your expectations, but in reality, it was much faster in my tests.
I found that the withdrawal process for my debit card was faster than the advertised times set by Trade Nation, as my funds were back in my account the next day. From my experience with other brokers, I’d expect options like bank account transfers to take the full 5 days, processing is more complex than with debit cards and e-wallets.
Trade Nation has a standard application process that allows you to complete the opening of your account online.
The application involves standard questions about your market knowledge, risk tolerance, and employment details, which must be answered as part of the FCA’s suitability requirements.
I found the process straightforward and completed it within 12 minutes, which also included submitting my verification documents online. My account was approved within 8 hours, which I consider a decent turnaround time. It’s quick enough to get you trading sooner rather than later, but also allows for proper due diligence on the broker’s part.
Our Verdict On Trade Nation Funding and Withdrawals
Trade Nation’s funding and withdrawal options offer a solid blend of standard payment methods and digital alternatives. The lack of fees for deposits and withdrawals is a definite advantage.
While the withdrawal process doesn’t set the world alight with its processing time, it’s still just about in line with what I’ve experienced with other brokers.
As a multi-asset broker, Trade Nation offers a decent catalogue of spread bet markets, which includes forex, commodities, indices, equities, and bonds. This selection is similar to what I’ve seen with other top brokers I’ve tested, giving you access to popular markets through a single spread betting account.
Trade Nation offers 33 currency pairs, covering majors, minors, and exotic pairs. The selection includes the most popular pairs like EUR/USD, GBP/USD, and USD/JPY, which should be suitable for any trader focused on the most liquid currency pairs.
For commodities trading, Trade Nation offers 12 markets consisting of 5 energy and 7 metal markets. I was a bit surprised by the lack of the soft commodities that most brokers typically offer, such as sugar, coffee, and cotton.
While the energy and metal markets are solid, I believe the absence of soft commodities might be a drawback for traders looking for a more diverse range of commodity options.
Trade Nation offers one of the largest selections I’ve tested, with access to 35 indices global exchanges like FTSE 100, NASDAQ, S&P 500, and DAX. Bundled with the indices, you can bet on future markets too, which is useful if you want to bet on medium to long-term trading ideas as it eliminates overnight fees.
For shares, I found that Trade Nation has over 1,000 markets that cover multiple stock exchanges, including those in the US, UK, and Europe. This extensive range includes well-known companies like Apple, Amazon, and BP, as well as many others across various sectors.
If you like to bet on fixed-income markets, Trade Nation offers a small selection of 4 bond markets, including the Euro BUND, UK Gilt, US 10-Year T-Note, and US 30-Year T-Bond.
While this covers some of the most widely traded government bonds, I would have liked to see some other choices in there. I feel that Trade Nation should add corporate bonds, which would make the offering more comprehensive.
Our Verdict On Trade Nation Spread Bet Markets
In my opinion, Trade Nation’s strength lies in its comprehensive coverage of major markets across different asset classes, which is why it scored 8/10 in this category. I thought the broker offered an excellent range of indices, and supporting future markets is a nice bonus.
However, I think the limited range of exotic forex pairs, and the absence of soft commodities, might be drawbacks for some traders.
After testing the broker, I found that Trade Nation’s execution speeds and overall trading experience was generally very good.
It’s important to note that due to the nature of spread betting, brokers operate market maker execution model. Of course, this applies to Trade Nation too. This means they create the market for their clients, which can give spread bettors more flexibility and potentially tighter spreads.
During my testing, I placed over 25 bets and didn’t experience any slippage or requotes. This is a good sign for any broker, as it indicates a stable trading environment.
However, I must point out that while Trade Nation’s speeds are not bad, they’re not close to being the fastest in the industry. If you want a fast-execution broker, Pepperstone is my top pick, as its sub-80ms execution times were the fastest of any broker in my tests.
My SpreadBet co-founder Noam Korbl offered some insight of his own into the trading conditions. Particularly, risk management.
“One feature I liked is that Trade Nation offers guaranteed stop-loss orders on their proprietary TN Trader platform,” Noam said.
This protects you from slippage and market gaps, ensuring your stop loss is filled at the exact price level you set. There is an extra charge for placing a guaranteed stop loss, which varies based on your bet size, but you only pay it if the stop loss is actually triggered.”
I certainly agree with Noam here. The guaranteed stop-loss is a big asset, especially if you’re a beginner trader.
Verdict On Trading Conditions
I give Trade Nation a score of 9/10 for its trading conditions. The broker performed well in my live tests, without slippage or requotes on my spread bets.
The execution speeds are only average from the brokers I’ve tested, but the option to use guaranteed stop losses is a valuable feature that enhances the overall trading experience. I like the extra peace of mind this provides in volatile market conditions.
I had a mixed experience with Trade Nation’s customer service. The broker gives you access to support through multiple channels like live chat, e-mail, and telephone, and is open 24/5 during the trading week. This gets Trade Nation off to a good start.
If you need to contact them on the weekends, this becomes a ticket/e-mail service. It will take a few hours to get a response. While it does make sense to have reduced live chat services over the weekend, the best brokers will still give you a reliable channel if you need urgent questions answered.
One thing I really didn’t like was that the broker makes you go through using a FAQ section before accessing live chat.
This is certainly geared to the needs of the broker, not the user – it’s designed to reduce the strain on the Live Chat, hopefully by answering your question before you ever even get through to the chat tool.
To be honest, I found it frustrating. If I choose Live Chat, I want immediate access to someone who can resolve my issue. Not an exercise in clicking through a load of FAQ pages.
In addition to live chat, the broker offers telephone access and email support. Both are available 24/5 during the trading week; however, they are limited over the weekend, again making it difficult to get help with urgent issues outside of trading hours.
You can access the Trade Nation Knowledge Base if you don’t need specific help, or if your question is fairly broad and generic.
The Knowledge Base features hundreds of articles on common questions about things like funding or withdrawing, setting up the TN Trader platform, or opening an account with Trade Nation.
These resources are pretty good. Many of them are step-by-step guides, and the team has obviously put some thought into them. Again, it’s a case of some good, some bad from the broker.
Our Verdict On Trade Nation Customer Service
Based on my experience, I gave the broker an overall score of 8/10 for its customer service. This rating was mainly for its good live chat service and comprehensive FAQ section, which provides a solid self-help option with step-by-step guides.
However, I had to deduct points because customer support over the weekend was limited. As a trader, I value being able to get help whenever I need it, especially if I encounter urgent issues outside of regular trading hours.
Trade Nation surprisingly doesn’t offer extensive market research or third-party analysis services. However, it provides trading signals on TN Trader and offers decent educational resources, including online guides and videos.
Signals
I found that Trade Nation’s signals are powered by Acuity, offering alerts for multiple markets, including gold and EUR/USD. These intraday trading signals are delivered within the TN Trader platform and designed to alert traders to potential opportunities using chart patterns and technical analysis.
I think this feature is particularly useful for day traders and those looking for short-term trading ideas.
Unfortunately, these signals do not integrate with the TradingView platform, so if you want to access TradingView while viewing these signals, you’d need both platforms open. This extra process isn’t a big deal, considering they are both web-based trading platforms, making it easy to keep both in view.
Educational Resources
I was pleasantly surprised by the quality of Trade Nation’s educational materials. They offer over 50 online trading articles covering a wide range of topics, including trading strategies, chart patterns, risk management, and general trading principles.
The in-depth lessons were well-designed and packed with lots of information and examples, including diagrams and charts, to simplify the information.
Although there are plenty of resources, the information is heavily skewed towards helping beginners understand the basics and find trading strategies. So it doesn’t really accommodate more advanced traders.
Demo Account
I have to say, I wasn’t a fan of Trade Nation’s approach to their demo account. Forcing users to sign up and fully verify their account before accessing the demo seems unnecessary. This could deter potential traders who want to test the platform before committing.
Other brokers I’ve examined, like Pepperstone, IG, and OANDA all offer free demo accounts without forcing you to hand over all of your private information.
Once you get past the sign-up process, the demo account is available only for the TN Trader platform and comes with £5,000 in virtual funds. If you want to demo the TradingView platform, you can do so for free by going directly to the TradingView website.
Our Verdict On Trade Nation Research and Education
Trade Nation is a little lacking in the research department. In fact, its research resources were the least extensive of any of the brokers I have reviewed. With that said, it still offers trading signals, which I believe is a bonus for beginners and day traders.
On the educational resource front, I thought the broker provided an outstanding set of trading lessons. The in-depth articles and visual aids can be incredibly helpful for traders looking to improve their skills and knowledge.
I found Trade Nation to be a solid performer in my testing, particularly excelling in customer service and trading experience, both scoring 8/10. These strong points contributed to the broker’s overall score of 76/100.
However, Trade Nation lost ground in the trading costs category. While their spreads are competitive, they just couldn’t match the lower spreads offered by rivals like Pepperstone.
Trade Nation could be ideal if you prioritise a smooth trading experience while using TradingView. Most brokers I’ve seen don’t offer this platform for spread betting.
Spread betting can be profitable if you deploy a consistent trading strategy, strong risk management and excellent market knowledge.
You will need some tolerance for losing money too – maybe even losing money rapidly if the markets are particularly volatile. Most retail investor accounts lose money when trading, and you may need to weather some difficult times before you begin seeing profits.
Yes, Trade Nation is legit as it is regulated by top-tier financial authorities including the FCA in the UK, and ASIC in Australia. The broker offers transparent pricing, segregated client funds, and negative balance protection.
While no broker can completely eliminate risk when spread betting, Trade Nation does its best. The broker has all the hallmarks of a reputable firm.
Yes, spread betting is regulated in the UK by the Financial Conduct Authority (FCA). The FCA oversees spread betting firms and sets rules for client money protection, advertising standards, and business conduct.
This regulatory oversight protects consumers and maintains market integrity in the spread betting industry. Learn more about regulation in spread betting.
Yes, Trade Nation offers a spread betting demo account whereyou can practise trading. The demo allows you to learn the functionality of the platform with £5,000 in virtual funds on the broker’s TN Trader platform without risking real money.
You can practise spread betting or CFD trading on this account, which will help you find what suits you best. If you want to demo the TradingView platform, you can access it directly through TradingView’s website and select Trade Nation as the broker for your paper trading account.
No, you cannot spread bet on cryptocurrencies with Trade Nation as they do not offer crypto markets in the UK. In fact, the FCA has banned retail investor accounts from speculating on cryptocurrencies in the United Kingdom.
If you want to speculate on crypto, you must open an account with the broker’s Bermuda-regulated entity. This is where you can trade crypto CFDs, which is different from spread betting. In the UK, the permitted instruments are limited to more
stable spread betting markets.
