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Trade Nation in South Africa — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%70
- Round-turn cost20%100
- Safety20%100
- Payouts15%0
- Track record10%60
- Platforms10%25
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- South African clients are onboarded under the genuine LOCAL entity Trade Nation Financial (Pty) Ltd (reg. 2018/418755/07), not an offshore arm.
- Founded
- 2014
- Retail leverage
- 200ZA
- Round turn
- 5 USDZA
- Currencies
- Native ZAR account available (plus GBP, EUR, USD, AUD), so ZAR deposits avoid conversion.
- Swap-free account
- conditional
"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 South Africa residents
- South African clients are onboarded under the genuine LOCAL entity Trade Nation Financial (Pty) Ltd (reg. 2018/418755/07), not an offshore arm.
- Local standing
- Locally regulated by the FSCA; onshore oversight, though SA has no statutory investor-compensation scheme comparable to the UK FSCS.
- Licence as the register states it
- Trade Nation Financial (Pty) Ltd holds FSCA licence (FSP) No. 49846 - a genuine local South African authorisation.
- Leverage for this entity
- Up to 1:200 via the FSCA entity (subject to internal suitability check); FSCA does not impose a hard retail leverage cap.
- The firm behind it
- Founded 2014 as Core Spreads (UK spread betting), rebranded Trade Nation 2019; HQ 14 Bonhill Street, London, with a Johannesburg office; CEO Jon Noble, owner Jasper White.
- What we hold against it
- Strong setup for SA: a genuine FSCA local licence (49846) and native ZAR accounts, not an offshore workaround. Not on the FSCA warning list at review.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards South African residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youLocally regulated by the FSCA; onshore oversight, though SA has no statutory investor-compensation scheme comparable to the UK FSCS.
- 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 South Africa market median(priced from 80 of 103)
Medians run over the 80 of 103 brokers that publish a price for South Africa, 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 (ZAR 1, 000 first deposit for ZAR funding). 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 South Africa base(103 brokers)
Round-turn cost, USD (80 of 103 priced)
Median 7 USD · range 1-20 · this broker 5 USD · 23 of 103 brokers do not publish it
Minimum deposit, USD (49 of 103 priced)
Median 50 USD · range 0-1000 · this broker 0 USD · 54 of 103 brokers do not publish it
Retail leverage (72 of 103 with a South Africa figure)
Median 1:500 · range 20-5000 · this broker 1:200 · 31 of 103 brokers do not publish it
Withdrawal time published (103 brokers)
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Deposit and withdrawal methods (4 methods · 2 local)
Local ZAR bank transfer/EFT plus Visa/Mastercard;
- Local ZAR bank transferlocal
- EFTlocal
- Visa
- Mastercard
- Account currency
- Native ZAR account available (plus GBP, EUR, USD, AUD), so ZAR deposits avoid conversion.
- Fee declared
- 4 of 4 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 | — | 0.5 |
| MetaTrader 4 | — | 0.5 |
| All instruments | 1000+ | — |
184 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: IC Markets Raw Spread MT4/MT5, IC Markets Raw Spread cTrader, Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard and 178 more.
Identical for every row: Leverage 200 ZA.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.4 | 2,081 |
Share of reviewers in South Africa: — The platform does not publish it.
Pros and cons(5 for and 2 against, each tied to a figure on this page)
- Round turn 5 USD on the standard basis, under the South Africa median 7
- Locally authorised, licence 49846, read on 09.07.2026
- Min deposit 0 USD, under the South Africa median 50
- Swap-free account available
- Round-turn cost 100 of 100, its strongest of 6 scored axes
- Withdrawal in 120 h, over the South Africa median 24
- Payouts 0 of 100, its weakest of 6 scored axes
Alternatives in South Africa(6 of 103 scored in South Africa)
- Round turn, USD
- 6ZA
- Min deposit, USD
- 20ZA
- Leverage
- 30 group
- Rank in this country
- #2
- Round turn, USD
- 6ZA
- Min deposit, USD
- 0 groupZA
- Leverage
- 2000ZA
- Rank in this country
- #3
- Round turn, USD
- 6ZA
- Min deposit, USD
- 10ZA
- Leverage
- 5000ZA
- Rank in this country
- #5
- Round turn, USD
- 6ZA
- Min deposit, USD
- 25ZA
- Leverage
- 500ZA
- Rank in this country
- #6
- Round turn, USD
- 6ZA
- Min deposit, USD
- 50 groupZA
- Leverage
- 500 group
- Rank in this country
- #4
- Round turn, USD
- 5ZA
- Min deposit, USD
- 10ZA
- Leverage
- 500ZA
- Rank in this country
- #17
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 South Africa 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 | 100 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 100 |
| 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 | 60 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 25 |
FAQ
- Does Trade Nation accept residents of South Africa?
- Yes. Locally regulated by the FSCA; onshore oversight, though SA has no statutory investor-compensation scheme comparable to the UK FSCS. Onboarding entity: South African clients are onboarded under the genuine LOCAL entity Trade Nation Financial (Pty) Ltd (reg. 2018/418755/07), not an offshore arm.
- Is Trade Nation licensed to serve clients in South Africa?
- Trade Nation Financial (Pty) Ltd holds FSCA licence (FSP) No. 49846 - a genuine local South African authorisation. Checked on 09.07.2026.
- How much does one round turn cost at Trade Nation?
- About 5.0 USD per standard lot on EUR/USD. The median across brokers measured for South Africa is 7.0 USD.
- What leverage does Trade Nation offer to retail clients in South Africa?
- Up to 1:200. Up to 1:200 via the FSCA entity (subject to internal suitability check)
- 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 South Africa?
- Local ZAR bank transfer/EFT plus Visa/Mastercard; ZAR deposits credited without FX conversion.
- 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 (ZAR 1,000 first deposit for ZAR funding).
- Does Trade Nation offer a swap-free (Islamic) account?
- Conditional.
Taxes for a South African resident(1 rule)
- SARS taxes residents on worldwide income.https://tradenation.com/en-za
Not tax advice. Check with SARS.