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Trade Nation in India — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%70
- Round-turn cost20%95
- Safety20%0
- Payouts15%no data
- Track record10%90
- Platforms10%25
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- Trade Nation Ltd
- Founded
- 2008
- Retail leverage
- 200IN
- Round turn
- 6 USDIN
- Currencies
- Account base currencies GBP, EUR, USD, AUD and ZAR; no INR account.
- Swap-free account
- yes
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Licence check
Open an account with Trade NationThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards India residents
- Trade Nation Ltd
- Local standing
- Offshore (SCB Bahamas); not authorised by SEBI/RBI. Retail offshore-forex margin trading is restricted for residents under FEMA and RBI's Alert List regime.
- Licence as the register states it
- Trade Nation Ltd holds SCB Bahamas licence No. SIA-F216; no SEBI registration in India.
- Leverage for this entity
- Up to 1:200 via the SCB entity (subject to internal suitability check); not sanctioned by an Indian regulator.
- The firm behind it
- Founded 2014 as Core Spreads (UK spread betting), rebranded Trade Nation 2019; HQ 14 Bonhill Street, London; CEO Jon Noble, owner Jasper White.
- What we hold against it
- Served via an offshore Bahamas entity; offshore forex trading by Indian residents is legally restricted under FEMA/RBI - clients should check the RBI Alert List. Trade Nation's inclusion there not verified at review.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Indian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youOffshore (SCB Bahamas); not authorised by SEBI/RBI. Retail offshore-forex margin trading is restricted for residents under FEMA and RBI's Alert List regime.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against India market median(priced from 65 of 90)
Medians run over the 65 of 90 brokers that publish a price for India, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Two live tiers - lower-leverage (up to 1:30), higher-leverage (up to 1:200), plus demo, TN Trader is fixed-spread, MT4 floating. Min deposit USD 0. The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where Trade Nation sits in the India base(90 brokers)
Round-turn cost, USD (65 of 90 priced)
Median 7 USD · range 2-18 · this broker 6 USD · 25 of 90 brokers do not publish it
Minimum deposit, USD (16 of 90 priced)
Median 15 USD · range 0-1000 · this broker 0 USD · 74 of 90 brokers do not publish it
Retail leverage (49 of 90 with a India figure)
Median 1:500 · range 20-5000 · this broker 1:200 · 41 of 90 brokers do not publish it
Withdrawal time published (90 brokers)
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Deposit and withdrawal methods (3 methods · 0 local rails)
Visa/Mastercard and bank transfer;
- Visa
- Mastercard
- Bank transfer
- Account currency
- Account base currencies GBP, EUR, USD, AUD and ZAR; no INR account.
- Fee declared
- 3 of 3 methods
- Withdrawal back to
- the funding method
Where it does not serve(7 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(3 platforms)
- TN Trader
- MetaTrader 4
| Class | Count | Min spread |
|---|---|---|
| TN Trader | — | 0.6 |
| MetaTrader 4 | — | 0.6 |
| All instruments | 1000+ | — |
138 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 132 more.
Identical for every row: Leverage 200 IN.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.4 | 728 |
Share of reviewers in India: — The platform does not publish it.
Pros and cons(4 for and 4 against, each tied to a figure on this page)
- Round turn 6 USD on the standard basis, under the India median 7
- Min deposit 0 USD, under the India median 15
- Swap-free account available
- Round-turn cost 95 of 100, its strongest of 6 scored axes
- No India authorisation on file: the entity that onboards you is licensed elsewhere
- A regulator warning is on file against this broker
- Withdrawal in 120 h, over the India median 48
- Safety 0 of 100, its weakest of 6 scored axes
Alternatives in India(6 of 90 scored in India)
- Round turn, USD
- 6IN
- Min deposit, USD
- 10IN
- Leverage
- 2000IN
- Rank in this country
- #5
- Round turn, USD
- 6IN
- Min deposit, USD
- 0 groupIN
- Leverage
- 2000IN
- Rank in this country
- #8
- Round turn, USD
- 6IN
- Min deposit, USD
- 10IN
- Leverage
- 3000IN
- Rank in this country
- #11
- Round turn, USD
- 7IN
- Min deposit, USD
- 10 groupIN
- Leverage
- 1000IN
- Rank in this country
- #14
- Round turn, USD
- 7IN
- Min deposit, USD
- 10 groupIN
- Leverage
- 200IN
- Rank in this country
- #19
- Round turn, USD
- 5IN
- Min deposit, USD
- 0 groupIN
- Rank in this country
- #2
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a India score. Full methodology
| Axis | Weight | What is measured | Trade Nation |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 70 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 95 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 0 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 0 |
| Track record | 10% | Years since the firm was founded, from its own filings | 90 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 25 |
FAQ
- Does Trade Nation accept residents of India?
- No. Offshore (SCB Bahamas); not authorised by SEBI/RBI. Retail offshore-forex margin trading is restricted for residents under FEMA and RBI's Alert List regime. Onboarding entity: Trade Nation Ltd
- Is Trade Nation licensed to serve clients in India?
- Trade Nation Ltd holds SCB Bahamas licence No. SIA-F216; no SEBI registration in India. Checked on 09.07.2026.
- How much does one round turn cost at Trade Nation?
- About 6.0 USD per standard lot on EUR/USD. The median across brokers measured for India is 7.0 USD.
- What leverage does Trade Nation offer to retail clients in India?
- Up to 1:200. Up to 1:200 via the SCB entity (subject to internal suitability check); not sanctioned by an Indian regulator.
- Which trading platforms does Trade Nation support?
- TN Trader, MetaTrader 4. Instruments: 1,000+ instruments - ~40 forex pairs, ~1,100 share CFDs, plus indices, commodities and crypto CFDs.
- How can I withdraw money from Trade Nation in India?
- Visa/Mastercard and bank transfer; local INR UPI rails not verified at review.
- What account types does Trade Nation offer?
- Two live tiers - lower-leverage (up to 1:30) and higher-leverage (up to 1:200), plus demo; TN Trader is fixed-spread, MT4 floating. Min deposit USD 0.
- Does Trade Nation offer a swap-free (Islamic) account?
- Yes. Trade Nation offers a swap-free (Islamic) account to India residents.
Cost calculator (median of 65 priced of 90)
EURUSD round turns at the prices captured 01.10.2026. Shown in USD only: we do not publish a INR conversion because the exchange rate is not part of our data.