A broker using false information, Trade Nation is a platform you need to stay away from. Tradenation.com claims to have licenses from four regulatory bodies. A closer check shows that the broker is using information from another legal company. The legal company is Finsa Europe Ltd, and Finsa Pty Ltd. After looking at various regulators, trade nation is not mentioned under the Finsa entity. It means that the broker is lying about their legal status. Read this genuine Trade nation review for more.
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Once you land on the website, you will notice that the navigation is easy. The broker ensures that investors get the information they require fast without much hassle. It’s the only positive feature of this platform. As far as who’s behind it, there are a lot of questions than answers.
We believe that these are scam artists who are trying to use a legit company’s license information. The reason behind our assumption is the lack of essential information on the broker and services they offer.
We find it shocking that there’s no clear picture of their trading background. We were expecting an about us page that gives us information on the broker. What we do get is claims of having different regulatory documents.
After checking with most, one thing stood out, and there’s more to the platform than meets the eye. We had to dig deeper to find out the true intentions of the broker.
Before joining any of their affiliate programs, there are a few issues to point out. The marketing support team remains anonymous even to this date. We are facing a huge problem with what looks like another scam.
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Once you join their affiliate team, don’t expect any payment for your hard work. We haven’t seen any valid proof of the affiliate payout program. It means that if the trading goes south, your affiliate members will likely blame you.
According to the meet-the-team page, there are six directors available on the platform. We did notice that the page only gives one name to these directors. There’s no way of looking up their professionalism or years of experience.
These could as well be stock photos that the owner downloaded to fool investors. The best way for the broker to sell their claim is to have a video feature. It could help determine whether these directors are truly affiliated with the platform.
We still haven’t seen any positive comments from anyone who has dealt with the broker. All our efforts to try and reach out to the team have been futile. It seems that the broker is trying to hide sensitive information on the services they offer.
These are most likely scam artists who are using another company’s profile. Finsa Europe Ltd is the company that we see is legal under the FCA platform.
After checking with the four regulators, we did notice that Finsa is a legal entity. The only problem is that there’s no indication that Trade Nation is a broker working under them. Regulators will post the broker who is working under a legal company for transparency.
Without this confirmation, we are still left in the dark about their license. There’s no proof of Trade Nation being a legal entity. These are most likely offshore scam artists.
The broker should have at least posted copies of their license certificate. If indeed Finsa is the mother company, the broker would easily get access to the license details. There’s no mention of the broker having any valid license from Trade Nation.
And this leads us to believe that the broker is falsifying information. Ensure you check with regulators to confirm whether a broker is having the right documents.
The domain history of a website gives us a taste of how long the platform has been operating. Recent domain checker results show that tradenation.com went live in 2002. It means that the website is over 19 years old.
Although this might suggest that the broker is credible, there’s a huge problem. Over the last 19 years, no one has posted a review of the platform. We don’t see the platform mentioned in any trading forums. We think that this is a shoddy online trading platform.
For over 19 years, the platform should be recognized by a few brokers and investors. Without this much-needed recognition, we must continue suspecting the broker’s intent.
Trade Nation is not divulging any information on the available account types. And this goes to show that we are dealing with a rogue online trading platform. We expect the broker to be transparent in the accounts available.
It means we don’t know the minimum acceptable deposit for trading with the platform. Investors might be depositing insane amounts with this broker. The minimum deposit set by industry regulators stands at $250. Don’t deposit more than this amount for standard account types.
There’s a chat option that is not live but takes your personal information. Once you give them your email, the broker promises to reach out in a few hours. This is another issue we have with TradeNation. For all we know, this could be a platform that is selling personal information to third parties.
You will start receiving marketing emails from products and services companies that you didn’t subscribe to. Ensure you are careful with whom you share your personal information.
The platform accepts credit and debit cards along with bank transfers and Skrill. According to the FAQ page, there’s no minimum deposit. There are withdrawal limits but, we haven’t seen anyone with proof of withdrawing funds with the platform.
Without proof of withdrawal, there’s no way we can trust this broker. The best option is to stay away for over 19 years; no one has proof of withdrawing.
We still haven’t figured out which trading platform the broker is offering to investors. From the screenshots we see, it seems the broker is offering a web trader. The problem with such personalized trading terminals is that they don’t have full features.
You might encounter trading issues when using such unproven trading platforms. The best option is to use MT4, MT5, or SIRIX trader. These are proven and tested platforms that offer a wide array of features.
With no proof of anyone withdrawing from the platform, the safety of funds is not a guarantee. Stay away from this platform, or else risk losing your entire deposit. The broker does not provide adequate proof that they offer insurance cover. The broker may have been scamming investors with the website for over 15 years.
Trade Nation is a suspicious broker who has been around for 19 years, and no one knows them. With the suspicion growing, we have to mark the broker as a scam.
We won’t be recommending a broker with no valid license documents.
The best option is to sign up with formidable brokers who are transparent and offer safety. Do the right thing and sign up with the best brokers the industry has to offer.
We wish everyone a safe trading experience.
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