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Trade Nation in Kenya — review, licence and costs
Cost calculator (median of 36 priced of 55)
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%70
- Round-turn cost20%95
- Safety20%10
- Payouts15%80
- Track record10%60
- Platforms10%25
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- Trade Nation Ltd
- Founded
- 2014
- Retail leverage
- 200KE
- Round turn
- 6 USDKE
- Currencies
- Account base currencies GBP, EUR, USD, AUD and ZAR; no KES account.
- Swap-free account
- conditional
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 Kenya residents
- Trade Nation Ltd
- Local standing
- Offshore (SCB Bahamas); not authorised by Kenya's Capital Markets Authority (CMA) and no local compensation scheme.
- Licence as the register states it
- Trade Nation Ltd holds SCB Bahamas licence No. SIA-F216; no local Kenya CMA licence.
- Leverage for this entity
- Up to 1:200 via the SCB entity (subject to internal suitability check); not capped by a Kenyan 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, but Kenya is served offshore; CMA licenses local forex brokers and Trade Nation is not among them. No verified CMA warning at review.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Kenyan residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youOffshore (SCB Bahamas); not authorised by Kenya's Capital Markets Authority (CMA) 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 Kenya market median(priced from 36 of 55)
Medians run over the 36 of 55 brokers that publish a price for Kenya, 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 Kenyan resident(1 rule)
- Forex/CFD profit treated as ordinary income for most retail traders (not capital gains), added to taxable income, taxed on graduated bands roughly 10% up to a top marginal rate of 35% (as of the review;https://tradenation.com
Not tax advice. Check with the Kenya Revenue Authority.
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 KES account.
- Fee declared
- 3 of 3 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 | — | 0.6 |
| MetaTrader 4 | — | 0.6 |
| All instruments | 1000+ | — |
71 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 65 more.
Identical for every row: Leverage 200 KE.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.4 | 1,376 |
Share of reviewers in Kenya: — The platform does not publish it.
Pros and cons(5 for and 2 against, each tied to a figure on this page)
- Round turn 6 USD on the standard basis, under the Kenya median 7
- Min deposit 0 USD, under the Kenya median 25
- Withdrawal in 24 h, one of 46 of 55 brokers here that publish a time
- Swap-free account available
- Round-turn cost 95 of 100, its strongest of 6 scored axes
- No Kenya authorisation on file: the entity that onboards you is licensed elsewhere
- Safety 10 of 100, its weakest of 6 scored axes
Alternatives in Kenya(6 of 55 scored in Kenya)
- Round turn, USD
- 4.5KE
- Min deposit, USD
- 0KE
- Leverage
- 500KE
- Rank in this country
- #7
- Round turn, USD
- 6KE
- Min deposit, USD
- 0 groupKE
- Leverage
- 500 group
- Rank in this country
- #10
- Round turn, USD
- 6KE
- Min deposit, USD
- 10 groupKE
- Leverage
- 3000KE
- Rank in this country
- #14
- Round turn, USD
- 5KE
- Min deposit, USD
- 10KE
- Leverage
- 2000KE
- Rank in this country
- #31
- Round turn, USD
- 6KE
- Min deposit, USD
- 100KE
- Leverage
- 500KE
- Rank in this country
- #12
- Round turn, USD
- 7KE
- Min deposit, USD
- 20 groupKE
- Leverage
- 200KE
- Rank in this country
- #3
"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 Kenya 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 | 80 |
| 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 Kenya base(55 brokers)
Round-turn cost, USD (36 of 55 priced)
Median 7 USD · range 3-23 · this broker 6 USD · 19 of 55 brokers do not publish it
Minimum deposit, USD (27 of 55 priced)
Median 25 USD · range 0-2500 · this broker 0 USD · 28 of 55 brokers do not publish it
Retail leverage (29 of 55 with a Kenya figure)
Median 1:500 · range 30-5000 · this broker 1:200 · 26 of 55 brokers do not publish it
Withdrawal time published (55 brokers)
FAQ
- Does Trade Nation accept residents of Kenya?
- No. Offshore (SCB Bahamas); not authorised by Kenya's Capital Markets Authority (CMA) and no local compensation scheme. Onboarding entity: Trade Nation Ltd
- Is Trade Nation licensed to serve clients in Kenya?
- Trade Nation Ltd holds SCB Bahamas licence No. SIA-F216; no local Kenya CMA 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 Kenya is 7.0 USD.
- What leverage does Trade Nation offer to retail clients in Kenya?
- Up to 1:200. Up to 1:200 via the SCB entity
- 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 Kenya?
- Visa/Mastercard and bank transfer; local KES M-Pesa 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?
- Conditional.