Broker review · Checked 25 Oct 2026

Trade Nation review 2026: is Trade Nation legit in Kenya and South Africa?

Trade Nation offers fixed spreads, no minimum deposit and no inactivity fee. Its South African company holds FSP 49846 with leverage up to 1:200, but its ODP application shows “Applied”, not approved.

Founded2014
🇰🇪 CMANot licensed
🇿🇦 FSCAFSP 49846
Minimum deposit$0
M-PesaNot confirmed

By D. Kalburov, editor · Licence data from the CMA and FSCA registers · How we review brokers

Is Trade Nation regulated? Licence by country

🇰🇪 KenyaNot on the CMA register

Regulator: Capital Markets Authority (CMA)
Local company: Not yet verified
Licence number: —
M-Pesa: Not confirmed

🇿🇦 South AfricaFSCA licence FSP 49846

Regulator: Financial Sector Conduct Authority (FSCA)
Local company: Trade Nation Financial (Pty) Ltd
Licence number: FSP 49846

Trade Nation Financial (Pty) Ltd shows "Applied" (not yet approved) on the FSCA list of OTC derivative providers, checked 25 Oct 2026.

Source: tradenation.com, not yet checked on the register

A licence means someone supervises the broker. It does not make trading safe: most retail CFD accounts lose money.

About Trade Nation

Founded 2014 · Head office: UK

Trade Nation started in 2014 as Core Spreads and took its current name in 2019. It is regulated by the FCA (525164), ASIC, Portugal's CMVM and the FSCA through Trade Nation Financial (Pty) Ltd (49846).

Who Trade Nation suits, and who should look elsewhere

Good fit if you

want fixed, predictable spreads
use TradingView

Look elsewhere if you

want raw ECN pricing
are in Kenya

Trade Nation account types and minimum deposit

Account	Minimum deposit	Pricing
Live account	$0	Fixed spreads on TN Trader and TradingView (EUR/USD about 0.6); variable on MT4 (about 1.1)

Leverage: FSCA company: up to 1:200.

Trade Nation fees: spreads, commission and other charges

Commission	None
Inactivity fee	None
Minimum withdrawal	50 in account currency

Work out the cost of a trade before you place it with our pip value and profit and loss calculators.

Trade Nation deposits and withdrawals in Kenya and South Africa

🇰🇪 Kenya

Trade Nation is not on the CMA register. If it accepts you, your account sits with an offshore company and you have no CMA complaints route.
Airtel mobile money is listed for some regions.

🇿🇦 South Africa

Trade Nation Financial (Pty) Ltd, FSP 49846.
ODP status: “Applied” (checked 25 Oct 2026).

M-Pesa limits, rand EFT, cards, e-wallets and the payment scams to avoid: read our deposits and withdrawals guide.

Trade Nation trading platforms

Is your money safe with Trade Nation?

Segregated accounts and negative balance protection across companies.

Trade Nation pros and cons

Pros

Fixed spreads
No minimum, no inactivity fee
TradingView

Cons

ODP not yet approved
No raw pricing
Withdrawals up to 5 days

Our real-money test of Trade Nation

Coming

We will open a Trade Nation account, deposit, place a trade and withdraw, then publish the screenshots, the time each step took and every fee we paid.

Trade Nation withdrawal time: reports from traders

How long do Trade Nation withdrawals really take?

Loading reports…

Median of reports from traders. Not checked by us; our own tests are marked separately.

Withdrawal stuck or refused at Trade Nation? Get a ready complaint letter and the right regulator contact with our complaint desk →

Trade Nation: questions people ask

Is Trade Nation regulated in Kenya?

No. Trade Nation is not licensed by the CMA. It may still accept clients from Kenya through an offshore company, but you would have no CMA protection or local complaints route.

Is Trade Nation regulated by the FSCA in South Africa?

Yes. In South Africa, Trade Nation operates through Trade Nation Financial (Pty) Ltd, which holds FSCA licence FSP 49846. Check that this company is named on your client agreement, not an offshore company of the same brand. Trade Nation Financial (Pty) Ltd shows "Applied" (not yet approved) on the FSCA list of OTC derivative providers, checked 25 Oct 2026.

Is Trade Nation regulated in South Africa?

Trade Nation Financial (Pty) Ltd holds FSP 49846; its ODP application is pending.

Sources for this review (checked 25 Oct 2026)

Fees, minimums and payment methods change and can differ by the company you sign with. Confirm them on the broker's site before you deposit. Spotted something out of date? Tell us.