FOREX.com vs Trade Nation Comparison
Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare FOREX.com vs Trade Nation.
Can I trust FOREX.com?
FOREX.com has a trust score of 99, giving it a "Highly Trusted" trust label.
- "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker
- "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
- "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
- "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
- "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.
Can I trust Trade Nation?
Trade Nation has a trust score of 83, giving it a "Trusted" trust label. Here's what each trust score label means:
What tier-1 jurisdictions is each broker regulated in?
Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. Trade Nation is ASIC Authorised (Australia) and FCA Authorised (U.K.), while FOREX.com is IIROC Authorised (Canada), FSA Authorised (Japan), FCA Authorised (U.K.) and CFTC Registered (USA). Both do not have SFC Authorised (Hong Kong), CBI Authorised (Ireland), MAS Authorised (Singapore), FMA Authorised (New Zealand) and FINMA Authorised (Switzerland)
What tier-2 jurisdictions is each broker regulated in? What about tier-3?
Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FOREX.com is CySEC Authorised (Cyprus) and DFSA / Central Bank Authorised (UAE), while Trade Nation is FSCA Authorised (South Africa). Both do not have CBRC Authorised (China), NSE Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses Trade Nation is SCB Authorised (Bahamas), while FOREX.com is CIMA Authorised (Cayman Islands). Both do not have IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).
Which broker offers more trading platforms?
Both FOREX.com and Trade Nation offer a Proprietary Platform and Desktop Platform (Windows). Both do not have cTrader, DupliTrade and ZuluTrade
Does FOREX.com offer MetaTrader? Does Trade Nation offer MetaTrader?
For MetaTrader FOREX.com provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Trade Nation provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.
How do FOREX.com and Trade Nation differ in terms of minimum deposit? What about average spreads and funding options?
FOREX.com requires a minimum deposit of $100, while Trade Nation requires a minimum deposit of $0. From our testing we found FOREX.com offers spreads of 1.1 (US August 2021), while Trade Nation offers spreads of 0.6. Trade Nation supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for popular funding options, where FOREX.com supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw).
Which brokers offers more tradeable asset classes, FOREX.com or Trade Nation?
Trade Nation offers a more diverse selection of investment options than FOREX.com allowing you to trade Forex Trading, Trading - Forex or CFDs, Spread Betting, Metals and Energies. Both do not have Social Trading / Copy Trading. Looking at total tradeable symbols, FOREX.com has 5500, compared to 601 from Trade Nation.
Can I trade cryptocurrency with FOREX.com or Trade Nation?
Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither FOREX.com nor Trade Nation allow you to trade physical cryptocurrencies.
Who offers more research tools, FOREX.com or Trade Nation?
In terms of research and research tools Trade Nation gives traders the following tools: Stock Charts and Forex News (Top-Tier Sources). In comparison FOREX.com has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Trading Central (Recognia). Both do not have Autochartist and Social Trading / Copy Trading
