Updated September 29, 2026 · BrokerCue Editorial Team
FP Markets vs Trade Nation
Where FP Markets and Trade Nation differ
| Compare |  FP Markets |  Trade Nation |
|---|---|---|
| Minimum deposit | A$100 | $0 |
| Markets | Forex, CFDs | Forex, CFDs, Spread bettingCovers more |
| Regulators | ASIC, SIPC | FCA |
| Investor protection | SIPC up to USD 500,000 | FSCS up to GBP 85,000 |
| Retail accounts that lose money | 72.5% | 57.1% |
| Inactivity fee | Not confirmed | $0 |
| Deposit and withdrawal fees | Not confirmed | Free deposits and withdrawals |
| Platforms | Not confirmed | TN Trader |
| Maximum retail leverage | Not confirmed | 30:1 |
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Key differences
- FP Markets scores higher overall: 9.0 vs 8.9.
- Regulators: only FP Markets offers ASIC, SIPC.
- Regulators: only Trade Nation offers FCA.
- FP Markets is licensed in 1 more country.
- Markets: only Trade Nation offers Spread betting.
Our verdict on each
FP Markets
FP Markets suits traders who want a regulated broker with a real protection scheme behind the money, not the lowest entry cost. It is regulated in Australia and the US, and the US entity carries SIPC cover of SIPC up to USD 500,000. The catch is the entry hurdle: a minimum deposit of AUD 100.
Trade Nation
Trade Nation suits UK retail traders who want a regulated, no-frills CFD account with nothing to pay for holding it. The minimum deposit is $0 and the inactivity fee is $0, so the running cost of an idle account sits at the very bottom of our table.
Score breakdown
| Area | FP Markets | Trade Nation |
|---|---|---|
| Cost | 8.6 | 9.6HigherInactivity fee of $0, minimum deposit of $0 and Free deposits and withdrawals for funding, all at the cheap end. |
| Offer | 8.6Higher | 8.5 |
| Trust | 9.5Higher | 8.6 |
Which one suits you
Pick FP Markets if trust matter most.
Pick Trade Nation if markets matter most.
What each covers
| Markets | FP Markets | Trade Nation |
|---|---|---|
| Forex | Yes | Yes |
| CFDs | Yes | Yes |
| Spread betting | No | Yes |
Where each is licensed and available
| Country | FP Markets | Trade Nation |
|---|---|---|
| Australia | Not confirmed | |
| United Kingdom | Not confirmed | FCA 525164 |
| United States | SIPC SIPC member 71021 | Not confirmed |
Positions in our rankings
| Ranking | FP Markets | Trade Nation |
|---|---|---|
| Forex brokers | 59 of 147 | 71 of 147 |
| Low-spread forex brokers | 57 of 145 | 69 of 145 |
| CFD brokers | 49 of 122 | 60 of 122 |
Every fact side by side
| Fact | FP Markets | Trade Nation |
|---|---|---|
| Features | Not confirmed | Mobile app |
| Legal entity | RB INTERNATIONAL MARKETS (USA) LLC | Trade Nation Financial UK Ltd |
Where each stands against the rest
| Fact | FP Markets | Trade Nation | Median |
|---|---|---|---|
| Inactivity fee | Not confirmed | $0at the median | $0 |
| Retail accounts that lose money | 72.5%above the median | 57.1%lowest quarter | 72.05% |
Median across 47 listed brokers.
Pros and cons
FP Markets
Pros
- Regulated in Australia and the US, with the US entity covered by SIPC up to USD 500,000.
- A single, named legal entity, RB INTERNATIONAL MARKETS (USA) LLC, holds the SIPC membership, licence SIPC member 71021.
- A focused product: forex and cfds, without a wider asset mix to learn.
Cons
- The minimum deposit of AUD 100 is well above the site median of €4.64.
- A limited market list, forex and cfds, so it does not cover shares, ETFs or crypto.
- The cost score is 3.1, one of the weaker parts of the profile.
Trade Nation
Pros
- Minimum deposit of $0, top of our list on deposits
- Inactivity fee of $0, also top of our list
- Free deposits and withdrawals, so moving money on and off carries no charge
Cons
- Markets are limited to forex, cfds and spread betting, so there is no share dealing alongside the CFDs
- Retail accounts that lose money stand at 57.1%, lower than most brokers on our table but still a majority
- Only one platform, TN Trader, with a mobile app as the stated feature
Who each suits
FP Markets
Who it suits
- Traders who weight regulator and protection scheme above a low starting amount
- Anyone happy to trade a single market pair of products, forex and cfds
- US clients who want the SIPC scheme, SIPC up to USD 500,000, behind the account
Who should look elsewhere
- Small starters, who will find AUD 100 a high way in
- Investors wanting shares, ETFs or crypto, since forex and cfds covers neither
- eToro users who want a much wider asset list, stocks, etfs and forex
Trade Nation
Who it suits
- UK traders who want an FCA regulated account with no minimum balance
- Anyone who keeps a CFD account open for months and does not want an inactivity charge
- Beginners who prefer one clear platform, TN Trader, rather than a choice
Who should look elsewhere
- Buy and hold investors, since markets run to forex, cfds and spread betting only
- Traders who want crypto, futures or options, none of which sit in forex, cfds and spread betting
- Anyone wanting several platforms, as only TN Trader is listed
Questions about each
FP Markets
What is the minimum deposit at FP Markets?+
The minimum deposit is AUD 100. That is a high way in, and it sits well above the site median of €4.64. Anyone starting with a small amount should look at a broker with a lower entry figure before committing.
Is my money protected at FP Markets?+
The US-facing entity, RB INTERNATIONAL MARKETS (USA) LLC, is covered by SIPC up to USD 500,000. That protection belongs to the US entity, so clients of other entities in the group should check which scheme applies to them before depositing.
Trade Nation
What is the minimum deposit at Trade Nation?+
The minimum deposit is $0, which is 1 of 213 brands in our table. You can open an account with a small balance and add more whenever you want. Deposits themselves carry no charge, since Free deposits and withdrawals.
Does Trade Nation charge an inactivity fee?+
The inactivity fee is $0, which puts it at 1 of 56 brands on that measure. If your account sits unused for a while, there is no monthly deduction for holding it open.
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