FxPro's website
Trade Nation in Nigeria — review, licence and costs
Cost calculator (median of 57 priced of 81)
Score (6 of 6 axes scored)
ranked against full-basis brokers
Who actually onboards you
- Entity that onboards Nigeria residents
- Trade Nation Ltd
- Local standing
- Offshore (SCB Bahamas); not authorised by Nigeria's SEC and no local compensation scheme.
- Licence as the register states it
- Trade Nation Ltd holds SCB Bahamas licence No. SIA-F216; no local Nigeria SEC licence.
- Leverage for this entity
- Up to 1:200 via the SCB entity (subject to internal suitability check); not capped by a Nigerian 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
- Legitimate multi-regulated group with a dedicated Nigeria-facing offering, but served via the offshore Bahamas entity with weaker statutory protection. No verified Nigerian SEC warning at review.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Nigerian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youOffshore (SCB Bahamas); not authorised by Nigeria's SEC and no local compensation scheme.
- 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 Nigeria market median(priced from 57 of 81)
Medians run over the 57 of 81 brokers that publish a price for Nigeria, 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.
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Taxes for a Nigerian resident(1 rule)
- Trading profits are taxable and must be declared to the Nigeria Revenue Service (NRS, formerly FIRS).https://tradenation.com
Not tax advice. Check with the FIRS.
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 NGN account.
- Fee declared
- 3 of 3 methods
- Withdrawal back to
- the funding method
Where it does not serve(25 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+ | — |
147 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 141 more.
Identical for every row: Leverage 200 NG.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.4 | 2,091 |
Share of reviewers in Nigeria: — The platform does not publish it.
Pros and cons(4 for and 3 against, each tied to a figure on this page)
- Round turn 6 USD on the standard basis, under the Nigeria median 6.5
- Min deposit 0 USD, under the Nigeria median 20
- Swap-free account available
- Round-turn cost 95 of 100, its strongest of 6 scored axes
- No Nigeria authorisation on file: the entity that onboards you is licensed elsewhere
- Withdrawal in 120 h, over the Nigeria median 24
- Payouts 0 of 100, its weakest of 6 scored axes
Alternatives in Nigeria(6 of 81 scored in Nigeria)
- Round turn, USD
- 5NG
- Min deposit, USD
- 10 groupNG
- Leverage
- 2000NG
- Rank in this country
- #5
- Round turn, USD
- 6NG
- Min deposit, USD
- 20NG
- Leverage
- 200NG
- Rank in this country
- #10
- Round turn, USD
- 6NG
- Min deposit, USD
- 0 groupNG
- Leverage
- 2000NG
- Rank in this country
- #11
- Round turn, USD
- 7NG
- Min deposit, USD
- 10 groupNG
- Leverage
- 200NG
- Rank in this country
- #13
- Round turn, USD
- 6NG
- Min deposit, USD
- 0 groupNG
- Leverage
- 500NG
- Rank in this country
- #17
- Round turn, USD
- 6NG
- Min deposit, USD
- 10NG
- Leverage
- 2000NG
- Rank in this country
- #28
"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.
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 Nigeria 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 | 10 |
| 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 |
Where Trade Nation sits in the Nigeria base(81 brokers)
Round-turn cost, USD (57 of 81 priced)
Median 6.5 USD · range 3-20 · this broker 6 USD · 24 of 81 brokers do not publish it
Minimum deposit, USD (29 of 81 priced)
Median 20 USD · range 0-100 · this broker 0 USD · 52 of 81 brokers do not publish it
Retail leverage (53 of 81 with a Nigeria figure)
Median 1:500 · range 100-3000 · this broker 1:200 · 28 of 81 brokers do not publish it
Withdrawal time published (81 brokers)
FAQ
- Does Trade Nation accept residents of Nigeria?
- No. Offshore (SCB Bahamas); not authorised by Nigeria's SEC and no local compensation scheme. Onboarding entity: Trade Nation Ltd
- Is Trade Nation licensed to serve clients in Nigeria?
- Trade Nation Ltd holds SCB Bahamas licence No. SIA-F216; no local Nigeria SEC licence. 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 Nigeria is 6.5 USD.
- What leverage does Trade Nation offer to retail clients in Nigeria?
- Up to 1:200. Up to 1:200 via the SCB 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 Nigeria?
- Visa/Mastercard and bank transfer; local NGN naira 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 Nigeria residents.