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Trade Nation vs TopFX 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between Trade Nation and TopFX? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, Trade Nation ranks more highly than TopFX.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingTrade NationTopFXXTB
Overall Rating7.1 / 106.5 / 108.7 / 10
Account TypeTrade NationTopFXXTB
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountNoYesYes
Copy TradingTrade NationTopFXXTB
Social Trading / Copy TradingNoYesYes
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyTrade NationTopFXXTB
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)NoYesYes
BitcoinNoYesYes
ethereumNoYesYes
Forex Trading (Spot or CFDs)Trade NationTopFXXTB
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)Trade NationTopFXXTB
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsTrade NationTopFXXTB
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingYesNoNo
Social Trading / Copy TradingNoYesYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsNoNoYes
ETFNoYesNo
U.S. Stocks (CFD)NoYesYes
Trading PlatformsTrade NationTopFXXTB
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)NoNoNo
Regulatory LicensesTrade NationTopFXXTB
Tier-1 Licenses201
ASIC Authorised (Australia)YesNoNo
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)YesNoYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoNo
Tier-2 Licenses113
Tier-3 Licenses101
Research, EducationTrade NationTopFXXTB
Trading Central (Recognia)NoYesNo
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryNoNoYes
AutochartistNoYesNo
Investor Dictionary (Glossary)YesNoNo
Videos - Beginner Trading VideosYesNoYes
Client Webinars (Archived)NoNoYes
Trading CostsTrade NationTopFXXTB
Minimum Initial Deposit$0Depends on payment method$0
Average Spread EUR/USD - Standard0.6N/A1.07 (Q3 2022)
All-in Cost EUR/USD - Active0.6N/A1.04 (Q3 2022)
Active Trader or VIP DiscountsNoNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)NoYesYes
Trading ToolsTrade NationTopFXXTB
Watchlists - Total Fields1278
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)353039
Mobile Charting - Indicators / Studies953039
Trust FactorsTrade NationTopFXXTB
Year Founded201420102002
Publicly Traded (Listed)NoNoYes
BankNoNoNo
Authorised in European UnionNoNoYes
Trust Score836795
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Trade Nation vs TopFX 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 Trade Nation vs TopFX.

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:

  • "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 TopFX?

TopFX has a trust score of 67, giving it a "High Risk" trust label.

Is Trade Nation a good broker?

Trade Nation offers an innovative platform suite that is optimized for ease-of-use, and great for beginners. That being said, the lack of advanced trading features may leave experienced traders wanting more.

Is TopFX a good broker?

TopFX lags behind the industry average when it comes to market research and education, yet offers a growing selection of markets that you can trade on the MetaTrader and cTrader platforms.

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 TopFX is none., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)

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, Trade Nation is FSCA Authorised (South Africa), while TopFX is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses Trade Nation is SCB Authorised (Bahamas), while TopFX is none., neither have IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms Trade Nation supports a Proprietary Platform and Desktop Platform (Windows), whereas TopFX supports a Desktop Platform (Windows) and cTrader., neither have DupliTrade and ZuluTrade

Does Trade Nation offer MetaTrader? Does TopFX offer MetaTrader?

Both Trade Nation and TopFX offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4., neither have MetaTrader 5 (MT5)

How do Trade Nation and TopFX differ in terms of minimum deposit? What about average spreads and funding options?

Trade Nation requires a minimum deposit of $0, while TopFX requires a minimum deposit of Depends on payment method. From our testing we found Trade Nation offers spreads of 0.6, while TopFX offers spreads of N/A. Trade Nation supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for popular funding options, where TopFX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, Trade Nation or TopFX?

Trade Nation offers a more diverse selection of investment options than TopFX allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Metals and Energies., neither have Agriculturals Looking at total tradeable symbols, Trade Nation has 601, compared to 655 from TopFX.

Can I trade cryptocurrency with Trade Nation or TopFX?

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 Trade Nation nor TopFX allow you to trade physical cryptocurrencies.

Who offers more research tools, Trade Nation or TopFX?

In terms of research and research tools Trade Nation gives traders the following tools: Stock Charts and Forex News (Top-Tier Sources). In comparison TopFX has the tools listed here: Autochartist, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading., neither have Daily Market Commentary

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