How do you compare two brokers when they operate on two different ends of the spectrum? DEGIRO is a European stockbroker and low-cost provider. Trade Nation is a global forex and CFD broker, which tries to distinguish itself as more focused on the needs of its customers.
Both firms are heavily regulated, but DEGIRO is part of a large stockbroker and banking conglomerate, while Trade Nation is a smaller firm attempting to succeed in a very competitive space. An evaluation as to which is better will solely rest with what your needs are as a customer.
Investing involves risks. You can lose (a part of) your deposit. We advise you to only invest in financial products which match your knowledge and experience.
The essential differences between DEGIRO and Trade Nation relate to fees and product access, where DEGIRO excels. However, if you wish to trade forex pairs, are a beginner, and prefer very responsive customer support, then Trade Nation may be better for you. The DEGIRO conglomerate has 2 million+ customers, while Trade Nation does not publish customer or volume turnover figures.
DEGIRO, a Dutch firm, is now a subsidiary of flatex AG, a stockbroker and banking entity traded on the SDAX stock exchange in Germany. It began operations in 2013 in Amsterdam as a stockbroker with a vision of becoming the online leader in the European Economic Area (EEA) for quality service, low fees and tight spreads. The broker and its parent have followed this formula for success, and it has won them accolades for being the largest online stockbroker in Europe.
Trade Nation opened in London in 2014. It offers trading in forex pairs and CFDs, but also spread betting where permitted by local law. It has not followed the low-cost provider route, as has DEGIRO, but it has attempted to differentiate itself with superior customer service and support. It is also heavily regulated, with oversight from the FCA, ASIC, and agencies in the Bahamas and South Africa.
Neither DEGIRO nor Trade Station requires a minimum deposit. Funding options are more limited with DEGIRO. Bank direct deposit and wire transfer are the only methods permitted. Trade Nation, however, follows the forex broker model where several payment options are supported, both local and regional.
DEGIRO has attracted a large and loyal customer base due to its dramatic slashing of the standard stockbroker fee model in the EEA. Access to 50+ global exchanges is also a big draw, but a few exchanges may pass along fees, a standard in the industry. You will incur no fees for deposits, withdrawals or inactivity.
There are no inactivity, deposit or withdrawal fees with Trade Nation. There is, however, a minimum withdrawal amount of 50 units of your base currency. There are also overnight fees for positions held for lengthy periods that can add up over time. This firm attempts to keep fees as low as possible by earning its revenue primarily from its spreads.
DEGIRO does not offer leverage, but margin trading is allowed as high as 5:1, subject to equity balance calculations on your account. Tight spreads, however, are the big attraction when using this stockbroker for buying and selling its products online.
Leverage at Trade Nation is similar to the offerings of other forex brokers – up to 30:1 on major currency pairs in the EEA, but higher levels in more lenient jurisdictions. Trade Nation also offers a unique spread proposition. It assigns fixed spreads to its proprietary platform users and variable spreads for MT4 users. These fixed spreads may vary by time period due to liquidity issues. Its spreads do appear to be average for the industry.
Each broker keeps it simple with one standard trading account, though special accommodations may apply to corporate or institutional users. Trade Nation follows suit, but defines its service by whether you are a spread betting, proprietary platform or MT4 user.
DEGIRO has dedicated time and resources to developing its proprietary trading platform and mobile app. Both have won awards for enabling quick and easy trading with the necessary feature support expected in today’s modern trading platform designs.
With Trade Nation, you may trade CFDs with MT4 products, where spreads are variable, or elect to trade its products on its proprietary platform or mobile app, where spreads are fixed.
DEGIRO offers traditional buying and selling of a broad portfolio of shares, ETFs, leveraged products, bonds, options and futures, with access to 50+ global exchanges, but no forex pairs for retail traders.
Trade Nation offers trading with forex, CFDs, and spread betting of shares, ETFs, indices and commodities. The breadth of its offering, however, is very confined. Neither firm offers crypto trading, unless you can find an ETF that blends a popular selection in its fund holdings.
DEGIRO offers no free demo platform for practice trading, while a demo account is standard with Trade Nation.
DEGIRO is a larger and better-capitalised firm than Trade Nation, which is one reason for its higher ranking in our reviews. Which firm would make a better business partner for you? Big is not always better, especially if the service you want is not supported. DEGIRO is a pure stockbroker, while Trade Nation provides access to the forex market and CFDs for the more popular offerings in today’s financial markets. Rely upon your personal objectives to determine which firm is better.