Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs Trade Nation, 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.
Interactive Brokers, established in 1977, stands out as a prominent name in the brokerage world. It is publicly traded, which often instills additional trust in investors. The firm holds an impressive nine Tier-1 licenses and two Tier-2 licenses, signaling a high level of regulatory compliance across major financial authorities. With a perfect Trust Score of 99 from ForexBrokers.com, Interactive Brokers is considered a highly trusted option for investors seeking secure and reliable services.
In contrast, Trade Nation, founded in 2014, is a newer entrant in the brokerage industry and is not publicly traded. The firm holds two Tier-1 licenses and one Tier-2 license, showcasing a commendable effort in maintaining regulatory standards. With a Trust Score of 85, it is classified as a trusted broker according to ForexBrokers.com. While it does not reach the same level of regulatory coverage as Interactive Brokers, Trade Nation presents a trustworthy option for those exploring diversified trading platforms.
| Feature |
Interactive Brokers
|
Trade Nation
|
|---|---|---|
| Year Founded | 1977 | 2014 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 2 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
Interactive Brokers is notably competitive in commissions and fees, earning a 5-star rating and ranking #2 out of 62 brokers according to ForexBrokers.com. For forex trading, Interactive Brokers charges commissions starting at 0.00002 (0.2 basis points) of the U.S. dollar trade value, with a minimum of $2 per order. Active traders can benefit from reduced commissions, potentially as low as $1 per order if certain monthly volumes are met. The broker's average spread for the EUR/USD during Q3 2024 was 0.19 pips, with an all-in spread of 0.59 pips after commission. This fee structure makes Interactive Brokers a competitive choice for forex traders, especially those executing large volumes.
Trade Nation also earns a 5-star rating for its commissions and fees, placing it at #7 among 62 brokers as reviewed by ForexBrokers.com. It offers competitive fixed-spread pricing, setting its EUR/USD pair at 0.6 pips, which broadens to around 1.4 pips during a brief daily rollover period. Additionally, Trade Nation provides three main account types: two MetaTrader options and the TN Trader account, with variable and fixed spreads. The Raw Spread account, which charges a $3.50 commission per side per standard lot, stands alongside a commission-free MetaTrader account. The TN Trader account is noted for offering the lowest overall costs, especially considering its fixed spreads.
Each of these brokers caters to different trading styles. Interactive Brokers appeals to highly active traders with large volumes due to its scalable commission discounts and strong execution methods. In contrast, Trade Nation's fixed-spread structure presents a more predictable cost environment, benefiting those who prefer stability over potentially varying costs. Both brokers excel in their respective strengths, offering traders a choice based on their unique trading needs and preferences.
| Feature |
Interactive Brokers
|
Trade Nation
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 0.59 | 0.6 |
| All-in Cost EUR/USD - Active | 0.59 | 0.6 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments between Interactive Brokers and Trade Nation, several key distinctions stand out. Interactive Brokers offers an impressive 8,500 tradeable symbols, dwarfing Trade Nation's 1,000. Forex traders will find a broader selection at Interactive Brokers, where 90 tradeable forex pairs are available compared to Trade Nation's 46. Both brokers offer forex trading as either CFDs or spot contracts, allowing for flexibility in trading styles. However, when it comes to stock trading, Interactive Brokers provides access to exchange-traded securities not just in the U.S., but also on international exchanges like the London Stock Exchange, enabling clients to purchase shares of companies like Apple and Vodafone. Trade Nation does not offer this option, focusing instead on CFDs. Additionally, cryptocurrency enthusiasts will note that Interactive Brokers offers the ability to buy actual cryptocurrencies, a feature not available with Trade Nation.
Interactive Brokers and Trade Nation also differ in services like copy trading and cryptocurrency derivatives. While Interactive Brokers does not provide copy trading, Trade Nation includes this feature, appealing to traders interested in mimicking investment strategies from others. Both brokers offer cryptocurrency derivatives. In terms of overall range of investments, Interactive Brokers ranks high with a 5-star rating and the top position among 62 brokers reviewed by ForexBrokers.com. Trade Nation holds a 3.5-star rating and is ranked 38th in the same category. This comprehensive comparison underscores Interactive Brokers as a more versatile platform for investors seeking a wide array of investment opportunities.
| Feature |
Interactive Brokers
|
Trade Nation
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 1000 |
| Forex Pairs (Total) | 90 | 46 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | 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.
Interactive Brokers and Trade Nation both offer users the opportunity to practice their trading skills with free virtual demo accounts. While both brokers have developed their own custom trading platforms, they also provide web-based and Windows-based desktop versions for versatile access. Unlike Interactive Brokers, which provides a vast collection of features, Trade Nation stands out with copy trading capabilities and support for MetaTrader 4. However, neither broker offers integration with popular services like DupliTrade or ZuluTrade.
When it comes to charting and watch list customization, Interactive Brokers takes a significant lead. Investors can access 85 drawing tools and tailor watch lists with an expansive 659 fields, compared to Trade Nation's 39 drawing tools and 14 watch list fields. Additionally, Interactive Brokers allows trades directly from stock charts, a feature Trade Nation lacks. For their comprehensive range of tools, Interactive Brokers earns a five-star rating from ForexBrokers.com and ranks third among 62 brokers, while Trade Nation follows with a four-star rating and 45th place ranking.
| Feature |
Interactive Brokers
|
Trade Nation
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 99 |
| Charting - Drawing Tools (Total) | 85 | 39 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 659 | 14 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Interactive Brokers and Trade Nation offer user-friendly mobile trading apps for iPhone and Android, equipped with essential features such as stock and forex price alerts, watchlist syncing, and various time frame views on charts. Notable for technical traders, Trade Nation slightly surpasses Interactive Brokers in offering 99 technical studies compared to 97. Both apps allow drawing trendlines on charts; however, Trade Nation holds an advantage with the auto-save drawings feature, a convenience Interactive Brokers does not provide.
While both apps support creating watchlists with real-time quotes, Interactive Brokers is rated higher with a 5-star rating compared to Trade Nation's 4 stars. This higher rating is reflected in their ranking by ForexBrokers.com, where Interactive Brokers stands at position #4 out of 62, considerably ahead of Trade Nation's ranking at #45. This distinction might make Interactive Brokers a preferred choice for those seeking a highly-rated mobile trading experience, although both platforms offer valuable tools for investors on the go.
| Feature |
Interactive Brokers
|
Trade Nation
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 97 | 99 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When diving into market research capabilities, Interactive Brokers clearly excels in comparison to Trade Nation. Interactive Brokers provide daily market commentary and offers comprehensive forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones. This broker also provides various research tools, such as Technical Analytics from Trading Central and market insights from TipRanks, enhancing its appeal for those keen on in-depth market analysis. Further, Interactive Brokers utilizes sentiment-based trading tools and Acuity Trading resources like Signal Centre, along with an insightful economic calendar, culminating in a stellar research rating of 5 stars and a ranking of #3 out of 62 brokers by ForexBrokers.com.
Although Trade Nation shares some common offerings like access to top-tier forex news and Acuity Trading's Signal Centre, it falls short of its competitor in significant areas. It lacks daily market commentary, Trading Central tools, TipRanks insights, and an economic calendar. This limited offering results in a research rating of 3.5 stars and a ranking of #42 from ForexBrokers.com. While both brokers offer sentiment-based trading tools, Interactive Brokers provides a more thorough range of research resources to support traders' decision-making processes.
| Feature |
Interactive Brokers
|
Trade Nation
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | Yes |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
Interactive Brokers and Trade Nation both cater to beginners seeking education in forex and CFD trading, offering a selection of educational materials such as articles and videos. Trader novices will appreciate that both platforms provide at least ten beginner-friendly videos covering essential trading topics. However, Interactive Brokers has a significant advantage in offering monthly live webinars and a searchable archive of past sessions, which Trade Nation does not provide. This feature can be particularly beneficial for new traders who prefer interactive learning and accessing a library of past content at their convenience.
For those looking to grow their trading knowledge further, Interactive Brokers also delivers advanced educational videos and a comprehensive investor dictionary, including over 50 investment terms, resources that Trade Nation lacks. These additional educational tools position Interactive Brokers higher in the educational rankings, earning a 5-star rating and ranking #3 out of 62 brokers, compared to Trade Nation's 3.5 stars and #42 ranking. This distinction makes Interactive Brokers a standout choice for both beginners and experienced traders aiming for a deeper educational experience.
| Feature |
Interactive Brokers
|
Trade Nation
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Interactive Brokers is better than Trade Nation. Interactive Brokers finished with an overall rank of #2, while Trade Nation finished with an overall rank of #34.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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Trade Nation
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 85 |
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Interactive Brokers allows investors to buy both actual delivered cryptocurrency and cryptocurrency derivatives, while Trade Nation only offers the ability to trade cryptocurrency derivatives.
Interactive Brokers provides ACH, SEPA, and bank wire options for depositing and withdrawing funds, whereas Trade Nation offers deposit and withdrawal via Skrill, Visa, Mastercard, and bank wires, but lacks support for ACH, SEPA, and PayPal transfers, with neither broker supporting PayPal 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 | Interactive Brokers | Trade Nation | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Trade Nation Review |
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| Regulation | Interactive Brokers | Trade Nation | |
|---|---|---|---|
| Trust Score | 99 | 85 | |
| Year Founded | 1977 | 2014 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 9 | 2 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | Trade Nation | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | Interactive Brokers | Trade Nation | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | Trade Nation | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 1000 | |
| Forex Pairs (Total) | 90 | 46 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | Interactive Brokers | Trade Nation | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 0.6 | |
| All-in Cost EUR/USD - Active | 0.59 | 0.6 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | Trade Nation | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | Trade Nation | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | Trade Nation | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 14 | |
| Charting - Indicators / Studies (Total) | 155 | 99 | |
| Charting - Drawing Tools (Total) | 85 | 39 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | No |
| Mobile Trading | Interactive Brokers | Trade Nation | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 97 | 99 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | No |
| Research | Interactive Brokers | Trade Nation | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | No |
| Education | Interactive Brokers | Trade Nation | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Interactive Brokers | Trade Nation | |
|---|---|---|---|
| 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 | Interactive Brokers Review | Trade Nation Review |
| Overall | Interactive Brokers | Trade Nation | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Trade Nation Review |
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