Trade Nation

Authorisations from the FCA, Portugal’s CMVM, ASIC and South Africa’s FSCA were confirmed on the regulators’ registers or ESMA’s register. Clients outside those jurisdictions are served by Trade Nation Ltd, registered with the Securities Commission of The Bahamas, and Trade Nation Financial Markets Limited, a securities dealer licensed in Seychelles.

• StrengthTrade Nation Financial UK Ltd (FRN 525164) has been authorised by the FCA since 9 May 2011 and may hold client money. Trade Nation Australia Pty Ltd has held AFSL 422661, which allows it to issue derivatives and foreign exchange contracts to retail clients, since 11 October 2012.
• StrengthESMA’s register of investment firms lists Trade Nation Europe - Empresa de Investimento, S.A. as an active investment firm authorised by Portugal’s CMVM on 15 April 2026. The firm gives its licence number as 601, which the register does not show.
• StrengthThe FSCA’s register lists Trade Nation Financial (Pty) Ltd as an authorised financial services provider, FSP 49846.
• MediumClients outside the UK, the EU, Australia and South Africa are served by Trade Nation Ltd, listed on the Securities Commission of The Bahamas register of firms as at 30 September 2026, and Trade Nation Financial Markets Limited, listed as a securities dealer by the Financial Services Authority of Seychelles. Both sit outside the main retail protection regimes. Trade Nation does not say which company serves which countries.
• LowTrade Nation gives the registered office of Trade Nation Ltd as No. 3 Bayside Executive Park, Nassau; the Securities Commission of The Bahamas register lists Office 2B, One Sandyport Plaza, Nassau. Neither offshore register shows the licence numbers the firm states (SIA-F216 and SD150).

The group is privately held and does not publish group accounts. The audited accounts of its UK company, filed at Companies House, name its Isle of Man parent and its ultimate controlling party. Trade Nation has agreed to acquire FXCM’s UK retail and professional client accounts.

• StrengthTrade Nation Financial UK Ltd’s accounts for the year to 30 November 2025, audited by Crowe U.K. LLP and filed on 30 March 2026, state that its immediate parent is Finsa Capital Holdings Limited, registered in the Isle of Man, and that its ultimate controlling party is Mr J White. Companies House records Finsa Capital Holdings Limited as holding 75% or more of the company since 1 December 2018.
• ObservationTrade Nation states that it has agreed to acquire the retail and professional trading accounts of FXCM UK (Stratos Markets Limited). Its timetable gives 5 November 2026 as the deadline for clients to opt out, with FXCM accounts closing on 20 November and Trade Nation accounts opening on 22 November 2026. FXCM’s UK website states that new trading accounts are now provided through Trade Nation. The terms of the purchase were not disclosed.
• ObservationNo accounts were found in public sources for the group as a whole or for the Bahamas and Seychelles companies. GLEIF records no parent for any of the six companies.

UK clients may be covered by the FSCS and EU clients by Portugal’s investor compensation scheme, and Trade Nation states that client money is segregated and that retail clients in those regions have negative balance protection. Clients of the Bahamas and Seychelles companies have no compensation scheme, and their client documents treat losses beyond the deposit as a debt the client owes.

• StrengthThe FCA register states that Trade Nation Financial UK Ltd can hold and control client money, and its audited accounts state that it complies with the FCA’s client money rules on segregation. Trade Nation states that UK client funds are held in segregated accounts and that negative balance protection applies as standard.
• StrengthTrade Nation Europe’s client money policy states that client funds are held in segregated accounts with Banco Santander Totta in Portugal and that a shortfall of up to €25,000 may be compensated under the Portuguese investor compensation scheme. Its EU website states that retail clients cannot lose more than the funds in their account.
• MediumTrade Nation Ltd’s client money policy states that client funds are segregated under trustee arrangements, and that a loss exceeding a client’s cash deposit is treated as a client debt which Trade Nation will pursue. The client agreements of both offshore companies warn that clients may incur losses exceeding their initial investment and name no compensation scheme.

Not assessed in a desk audit. Spreads, slippage and fill quality can only be measured with live accounts.

One enforcement action was found in the last eight years: in November 2022 South Africa’s FSCA fined the South African company and one of its key individuals R30,000 for operating as an over-the-counter derivatives provider without authorisation. No action was found at the FCA, ASIC, the Securities Commission of The Bahamas or the Financial Services Authority of Seychelles.

• LowIn an administrative penalty order signed on 7 November 2022, the FSCA found that Trade Nation Financial (Pty) Ltd and/or Nicholas Sproule, a key individual at the company, contravened section 111(1) of the Financial Sector Regulation Act by operating as an over-the-counter derivatives provider without authorisation. It imposed a penalty of R30,000 on them jointly and severally.
• ObservationThe FCA register lists four clone firms that have used Trade Nation’s details. These concern firms unconnected with the group and are not scored.

Not assessed in a desk audit. Uptime, incident history and security controls require evidence from the firm or live monitoring.

No Great Place to Work certification and no community programme with named initiatives were found.

• ObservationNo Great Place to Work certification was found in Great Place to Work’s public listings.
• ObservationThe UK company’s accounts state in general terms that it encourages community and charitable contributions, without naming a programme. Trade Nation’s partnership with Somerset County Cricket Club is a commercial sponsorship and is not counted.