Written by ForexBrokers.com
In this head to head comparison of Trade Nation vs TopFX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% 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.
Trade Nation and TopFX are both online brokers offering financial trading services, yet they differ significantly in their regulatory credentials and perceived trustworthiness. Trade Nation, founded in 2014, holds two Tier-1 licenses, which places it in the highly trusted category, and one Tier-2 license, reflecting a robust regulatory standing. With a Trust Score of 85 out of 99 from ForexBrokers.com, Trade Nation is considered a trusted option for traders. It remains a private entity and is not a bank, ensuring a focused commitment to its brokerage services.
Established in 2010, TopFX also operates as a private and non-bank entity. However, it carries only one Tier-1 license and no Tier-2 licenses, which indicates a less extensive regulatory backing compared to Trade Nation. Its ForexBrokers.com Trust Score is 67 out of 99, categorizing it as high risk according to the scoring system. These factors are important considerations for anyone deciding between the two brokers based on regulatory confidence and trust ratings.
| Feature |
Trade Nation
|
TopFX
|
|---|---|---|
| Year Founded | 2014 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Trade Nation stands out with its competitive fixed-spread pricing, particularly on its proprietary TN Trader platform. Unlike many brokers offering variable spreads, Trade Nation maintains fixed spreads across all symbols, ensuring a stable average price. For the popular EUR/USD pair, Trade Nation advertises a fixed spread of 0.6 pips, which can go up to 1.4 pips during its daily rollover period. This brings the average spread to around 1 pip, depending on the metric used. With three primary account types—two MetaTrader-based and one for TN Trader—Trade Nation provides both commission-based and commission-free options. The commission-based Raw Spread account charges a reasonable $7 per round-trip per standard lot. Overall, with its predictable pricing structure, Trade Nation earns a 5-star rating and is ranked #7 out of 63 brokers in this category by ForexBrokers.com.
On the other hand, TopFX offers two account types available on both MetaTrader and cTrader platforms: the commission-based RAW account and the commission-free ZERO account. The RAW account provides low average spreads of 0.33 pips for EUR/USD, with a commission of 2.75 EUR per side, bringing the total cost to about 0.88 pips, which aligns with industry standards. The ZERO account features no commissions but has higher average spreads of 1.03 pips for the EUR/USD pair. The minimum deposit varies based on the payment option, providing flexibility for new traders. Although offering decent pricing, TopFX falls slightly behind Trade Nation with a 4-star rating and ranks #40 by ForexBrokers.com.
Both Trade Nation and TopFX cater to different trader preferences with their account options. While Trade Nation impresses with its fixed-spread strategy and ranks higher for commissions and fees, TopFX offers flexibility with its platforms and account types. Depending on trading style and cost considerations, each broker provides competitive choices for traders looking for favourable pricing dynamics.
| Feature |
Trade Nation
|
TopFX
|
|---|---|---|
| Minimum Deposit | $0 | Depends on payment method |
| Average Spread EUR/USD - Standard | 0.6 | 1.03 |
| All-in Cost EUR/USD - Active | 0.6 | 0.88 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing Trade Nation and TopFX, both brokers offer a comprehensive selection of investments, albeit with some differences. Trade Nation provides access to 1,000 tradeable symbols, outpacing TopFX's offering of 655 symbols. However, when it comes to forex pairs, TopFX leads with 60 available pairs compared to Trade Nation's 46. Both brokers accommodate forex trading through CFDs and offer the opportunity to engage in copy trading. However, neither broker provides direct access to exchange-traded securities from either U.S. or international markets, nor do they allow purchases of actual cryptocurrencies. Instead, both companies offer cryptocurrency derivatives for trading.
Despite these similarities and distinctions, both Trade Nation and TopFX receive comparable ratings for their range of investments, each earning 3.5 out of 5 stars. Yet, Trade Nation slightly outranks TopFX in the ForexBrokers.com rankings for the range of investments, coming in at position 38 out of 63 brokers, while TopFX is placed at 46. Whether a trader prioritizes a higher number of tradeable symbols or a broader selection of forex pairs may influence the choice between these two brokers.
| Feature |
Trade Nation
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1000 | 655 |
| Forex Pairs (Total) | 46 | 60 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing the trading platforms and tools of Trade Nation and TopFX, both brokers provide essential features for traders of all levels. Each offers a simulated trading account, allowing customers to test strategies in a virtual environment before committing real funds. While both brokers excel in providing popular trading platforms, including a Windows-based desktop platform and a browser-based option, Trade Nation stands out by offering its proprietary platform—something TopFX lacks. Both brokers also support MetaTrader 4, a favorite among traders, but neither offers MetaTrader 5. For those interested in copy trading, both platforms cater to this demand.
Charting and customization options further highlight some distinctions between the two. Trade Nation provides 39 drawing tools compared to TopFX's 15, offering a wider range of analytical possibilities. When it comes to watch lists, Trade Nation outshines with 14 customizable fields against TopFX’s seven, though TopFX allows trading directly from the chart, a feature not available with Trade Nation. Both brokers receive solid user ratings of four out of five stars for their trading platforms and tools, and they are closely ranked by ForexBrokers.com, with Trade Nation at #44 and TopFX at #45 out of 63 brokers. This makes them both reliable choices, depending on the specific needs and preferences of the trader.
| Feature |
Trade Nation
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 39 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 14 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Trade Nation and TopFX, both platforms offer comprehensive support for iPhone and Android devices, providing traders with convenient on-the-go access. Both apps support key functionalities such as stock and forex price alerts, the ability to create watchlists with real-time quotes, and options to draw trendlines or view multiple chart time frames. A standout feature of Trade Nation is the seamless syncing of watchlists between mobile and online accounts, which TopFX does not support. Additionally, Trade Nation offers a more extensive range of technical studies for charting, with 99 options compared to TopFX's 30, offering greater flexibility for analysis.
In terms of user experience, both apps automatically save chart drawings, streamlining the workflow for traders who switch between devices. User ratings on ForexBrokers.com reflect similar strengths, with each app earning 4 out of 5 stars for mobile trading. However, Trade Nation achieves a higher overall ranking, positioned at #45 among 63 brokers, while TopFX is ranked at #51. This indicates Trade Nation's slight edge in the competitive landscape of mobile trading apps, particularly for those seeking more advanced charting tools and better integration across platforms.
| Feature |
Trade Nation
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 99 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Trade Nation and TopFX, there are clear differences in their market research offerings. Trade Nation stands out with its daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. It also provides a sentiment-based trading tool and research tools from Acuity Trading, enhancing its appeal to traders who value current updates and varied insights. However, it lacks some technical analysis tools, such as those from Autochartist and Trading Central, which are available through TopFX.
TopFX offers a comprehensive suite of technical tools, including Autochartist and Trading Central, which cater to traders focused on detailed technical analysis. While it doesn't provide daily market commentary or use research from Acuity Trading, TopFX includes an economic calendar to track news events across economies. Both brokers provide sentiment tools, but Trade Nation has a slightly better reputation for research with a 3.5-star rating, ranking #42 out of 63 brokers, compared to TopFX's 3-star rating and #60 ranking. This makes Trade Nation a strong choice for those who prioritize commentary and access to certain proprietary research tools.
| Feature |
Trade Nation
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | No | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available to beginners at Trade Nation and TopFX, Trade Nation comes out ahead. Trade Nation provides over ten educational resources focused on forex and CFDs, including an assortment of articles and videos. They also offer more than ten video tutorials specifically tailored for beginners to help them grasp trading concepts. Both brokers do not conduct monthly live webinars nor maintain an archive of recordings. Additionally, Trade Nation features a comprehensive investor dictionary with over 50 investing terms, further aiding new traders in their educational journey.
On the other hand, TopFX does not meet the minimum educational offerings, lacking foundational materials like beginner-focused videos and an investor dictionary. Trade Nation received a 3.5-star rating in education and is ranked 41st out of 63 brokers by ForexBrokers.com. In comparison, TopFX garnered a 3-star rating and holds a 61st-place ranking. For beginners keen on education, Trade Nation provides a more extensive range of materials to build a solid knowledge base in trading.
| Feature |
Trade Nation
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Trade Nation is better than TopFX. Trade Nation finished with an overall rank of #34, while TopFX finished with an overall rank of #62.
Trade Nation’s well-designed, easy-to-use trading app is an innovative trading platform that’s great for beginner forex and CFD traders. However, if you’re a seasoned trader, you may find that Trade Nation lacks advanced features compared to the best trading platforms.
| Feature |
Trade Nation
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TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 85 | 67 |
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While both Trade Nation and TopFX do not provide the option to purchase actual delivered cryptocurrency, they each offer the opportunity to trade in cryptocurrency derivatives.
Both Trade Nation and TopFX do not support ACH or SEPA transfers, but while Trade Nation does not offer PayPal, TopFX does; both brokers accept Skrill, Visa, Mastercard, and bank wire for transactions.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Trade Nation | TopFX | |
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| Trust Score | 85 | 67 | |
| Winner | check_circle | ||
| Review | Trade Nation Review | TopFX Review |
| Broker Screenshots | Trade Nation | TopFX | |
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| Regulation | Trade Nation | TopFX | |
|---|---|---|---|
| Trust Score | 85 | 67 | |
| Year Founded | 2014 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Trade Nation | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Trade Nation | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Trade Nation | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1000 | 655 | |
| Forex Pairs (Total) | 46 | 60 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Trade Nation | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.6 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.6 | 0.88 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Trade Nation | TopFX | |
|---|---|---|---|
| Minimum Deposit | $0 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Trade Nation | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Trade Nation | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 14 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 39 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | No | Yes |
| Mobile Trading | Trade Nation | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 99 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | Trade Nation | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | No | Yes |
| Education | Trade Nation | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Trade Nation | TopFX | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Trade Nation Review | TopFX Review |
| Overall | Trade Nation | TopFX | |
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| Trust Score | 85 | 67 | |
| Winner | check_circle | ||
| Review | Trade Nation Review | TopFX Review |
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