Core Spreads Review 2019

Core Spreads is a multi-regulated online broker with thousands of assets across multiple markets available to trade with fixed or variable spreads and low fees.

Core Spreads Review 2019, Pros & Cons
  • Strict regulation
  • Segregated client funds
  • Fixed spread accounts
  • Low commission fees
  • Wide range of assets
  • No US clients
  • Restricted leverage for non-professional EU clients
  • Limited educaitonal materals
  • Limited additional trading tools
  • Limited funding options

In this detailed Core Spreads review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

Core Spreads is not ranked in our best forex brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Core Spreads.

Core Spreads Review: Summary

Founded in 2014, Core Spreads are a multi-regulated online broker offering traders across the globe access to trade multiple asset classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds & CFDs.

Core Spreads provide powerful and advanced trading platforms including the popular MetaTrader 4 (MT4) platform by MetaQuotes and their own in house developed proprietary CoreTrader Spread Trading platform.

Core Spreads Review: Benefits

Core Spreads Review: Benefits

Core Spreads implement a strong trading infrastructure with competitive fees and tight fixed or variable spreads. Along with low trading costs, they provide good execution speeds with dynamic trading solutions for all trading styles and levels of experience. In 2017, they were awarded “Best Value Forex Broker” by the UK Forex Awards.

Core Spreads Review 2019, Pros & Cons
  • Strict regulation
  • Segregated client funds
  • Fixed spread accounts
  • Low commission fees
  • Wide range of assets
  • No US clients
  • Restricted leverage for non-professional EU clients
  • Limited educaitonal materals
  • Limited additional trading tools
  • Limited funding options

Core Spreads Review: Regulation

The Core Spreads group includes 3 related companies located in the United Kingdom, Australia and South Africa respectively. They are regulated in each jurisdiction in which they operate which helps to give clients peace of mind that they are using a secure and trustworthy broker.

Core Spreads UK is a trading name of Finsa Europe Ltd (a company registered in England and Wales under number 07073413) which is authorised and regulated by the Financial Conduct Authority (FCA) with number 525164.

Core Spreads AU is a trading name of Finsa Pty Limited who are regulated by the Australian Securities and Investments Commission (ASIC) with Australian Financial Services Licence (AFSL) number 422661.

Core Spreads Financial (Pty) Ltd is a duly appointed juristic representative of Trade Nation (Pty) Ltd which is an authorised Financial Services Provider regulated by the Financial Sector Conduct Authority (FSCA) in South Africa with number 49846 and part of the Finsa group.

By default, Core Spreads classify all clients as retail clients although there is an option to apply for a professional account. The retail classification gives the highest level of security and protection.

Retail client funds are held in segregated bank accounts at Barclays Bank in London. These accounts are separate from the company’s funds and thus will not be used for any other purposes such as business running costs or anything else that is not directly related to your account. In the unlikely event that Core Spreads goes into liquidation, your money can be ring-fenced from creditors.

Core Spreads Review: Countries

The Core Spreads group of companies accepts clients from all over the globe, excluding some countries with strict restrictions such as USA, Canada, Belgium, Russia, Iran & Israel. Some Core Spreads broker features and products mentioned within this Core Spreads review may not be available to traders from specific countries due to legal restrictions.

Core Spreads Review: Trading Platforms

Core Spreads offer a choice of different powerful and dynamic trading platforms to suit the needs of different traders. Clients can access a wide range of global markets for efficient trading via the desktop, web or mobile platforms. They aim to provide “clutter free” platforms that make for a simple and effective trading environment.

CoreTrader Platform

CoreTrader is the brokers very own modern web and mobile app spread trading platform that offers fixed spreads across multiple markets. It has been designed to meet all traders needs with reliable execution speeds and an easy to use intuitive interface for increased productivity. It is crisp and clean making it easy to navigate and to perform trading actions.

Core Spreads Review: CoreTrader Platform

Core Spreads Review: CoreTrader Platform

Core Spreads MetaTrader 4 (MT4)

MT4 is one of the most popular trading platforms used by millions of traders across the globe. It is an industry-tested platform that delivers a cutting-edge trading experience. It is known for its quick learning curve, thus making it a solution for new users whilst having enough advanced functionality to satisfy the more experienced traders.

Core Spreads Review: MetaTrader 4 (MT4) Platform

Core Spreads Review: MetaTrader 4 (MT4) Platform

Core Spreads Review: Trading Tools

Unfortunately, there are currently no additional stand-alone trading tools available. However, traders do have access to an abundance of tools to assist with analysis and trading via the trading platforms.

Core Spreads Review: Education

Market Analysis

There is the Core Spreads blog that contains frequently updated articles covering a range of trading topics such as technical analysis, fundamental analysis, economic events and more.

Video Tutorials

Core Spreads broker has a variety of video tutorials to help familiarise traders with the CoreTrader platform and other aspects of trading. These videos cover a variety of subjects ranging from how to place trades, analysing charts, reviewing transaction history and more. This can help to make the transition from another platform easier for new CoreTrader users.

Core Spreads Review: Trading Instruments

Core Spreads have a vast array of over 1,000+ trading instruments available across multiple asset classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds & CFDs.

Currently, they have 16+ Indices, 34+ major, minor and exotic forex currency pairs, 5+ Commodities, 500+ US equities, 950+ UK equities, 100+ EU equities, 500+ CFDs, 3+ Cryptos and more.

Whether you’re interested in trading CFDs, spread betting, forex trading, cryptos or more traditional commodities trading, there is something for everyone. Most of the Stock CFDs are available via the CoreTrader platform rather than MT4.

Forex Trading

The forex market is one of the largest in terms of trading volume with trillions traded every day of the week. Forex attracts 70% of the total volume of retail traders across the world.

When trading on currencies, you are speculating on one currency versus another. This is known as a currency pair or cross such as the EURUSD, GBPUSD, EURJPY, USDCHF, EURGBP, EURCHF, etc. Popular currencies traded include the Australian Dollar (AUD), British Pound (GBP), US Dollar (USD), Japanese Yen (JPY), Swiss Franc (CHF) and more. There are also a range of minor and exotic currencies available to trade.

Commodities Trading

Core Spreads offer clients the opportunity to trade on Gold, Silver, Brent Crude, and West Texas Oil. These are some of the most actively traded and volatile commodities in the world. Commodities are often seen as a barometer of the relative strengths and weaknesses of major economies and frequently used by retail and professional traders for speculation and hedging purposes.

Indices Trading

Via the CoreTrader platform, clients have access to all of the major global Indices, giving you the opportunity to take speculative positions in the USA, Europe and the Far East.

Indices can be volatile, moving quickly when economic announcements are made, when governments announce changes to their fiscal policies or when key stocks within the index report on their earnings. As with all types of trading, it’s important to recognise and respect this volatility and be aware of the risks involved.

Shares Trading

Core Spreads have a good range of US shares on which you can trade, with a minimum trade size of just $0.50 per 1 cent move in the price of the share. This includes large companies such as Apple, Google, Facebook, Twitter, Netflix and many more.

They also give clients low costs to trade share markets on hundreds of UK quoted companies that can be found in the FTSE100 and 250. The constituents of the FTSE indices are often in the news, whether they are reporting their latest earnings, providing interim updates to the market or when they are launching new products.

These can be volatile markets to trade and so it’s important to be aware when companies will be providing a trading update or releasing quarterly performance figures, some companies release their updates after the close of trading which can result in a very volatile start to the next session. Core Spreads promotes good risk management and encourage traders to be aware of the risks involved.

Spread Trading

Spread Trading with Core Spreads allows traders to speculate with leverage on if a financial market will rise or fall without taking ownership of the underlying asset. They provide access to 1,000’s of different markets, covering a multitude of asset classes, all from one account and accessed through one easy to use trading platform.

It is imperative to note that trading using leveraged products is high risk and it is essential to remember that, if your trade moves against you, you could still liable for the full amount of any loss, not just the small percentage of the trade value that you have deposited in your account.

CFD Trading

A CFD (Contract for Difference) is a financial derivative that allows traders to speculate (long or short) on the price movements of an underlying financial security, without actually owning it. The CFD is an arrangement for one party to pay the difference in value from when the trade was opened to when it was closed. CFDs can be traded on 100’s of markets, including commodities, currencies, indices and shares.

Cryptocurrency Trading

Cryptocurrency is an online digital currency that is decentralised and based on complex mathematical algorithms. Core Spreads offer crypto trading on Bitcoin, Ethereum & Ripple.

Core Spreads Review: Trading Accounts & Fees

There are 2 different account types offered by Core Spreads, one for those who wish to spread bet with fixed spreads on the proprietary CoreTrader platform and those who would prefer to trade with variable spreads on the MT4 platform.

Core Spreads Review: Account Types

Core Spreads Review: Account Types

CoreTrader

This account is for traders who wish to use the CoreTrader web and mobile spread trading platform. It offers fixed spreads across thousands of markets with no commission charge and a minimum 0.50 $/£/€ order size. Most of the Stock CFDs are available via the CoreTrader platform so this account would be more preferable for clients who wish to trade those instruments.

CoreMT4

This account gives access to trading on the MT4 platform with variable spreads and low commission charges of just $1.5/lot per side for all clients, regardless of the volume traded. Most brokers give lower commissions to those who trade more volume so it is good to see Core Spreads apply this across the board.

Demo Accounts

Core Spreads offer practice demo accounts with $10,000 so that you can practice your trading strategies and familiarise yourself with the various platforms. The demo environment mirrors the live platform although difference in liquidity should be taken into consideration as this can affect spreads and slippage. Demo accounts do not expire but are limited to 500 concurrent open transactions which should be more than enough for most.

Professional Account

Those in the EU who qualify as professional clients can apply for the professional account which gives increased leverage of up to 1:200 for certain instruments and a reduction on current margin rates, allowing you to trade with more leverage, as opposed to the limitations imposed by ESMA on retail clients.

To qualify as a professional client requires meeting 2 out of the 3 following guidelines, 1) Have a portfolio of greater than $500k (not including property or cash) 2) Have a verified history of placing significant sized positions (down to broker discretion) 3) Have worked in the capacity of a professional position related to derivatives / speculation / trading.

It is important to note that certain benefits retail clients have are removed if you fall under the professional trader category.

As broker fees can vary and change, there may be additional fees that are not listed in this Core Spreads review. It is imperative to ensure that you check and understand all of the latest information before you open a Core Spreads broker account for online trading.

Core Spreads Review: Customer Service

Core Spreads has offices in Johannesburg, London and Sydney. They employ an experienced and knowledgeable team who remain on hand to help assist traders with all aspects related to their account or any other questions they may have regarding their services. The customer service team is dedicated to giving all clients an equally personal service

They provide 24-hour support from the opening trading bell at the start of the week, all the way through to the close of the US markets at the end of the week. Support can be reached via a dedicated phone number that goes through directly to the trading desk. All calls are recorded for security, audit and compliance reasons. Other less urgent customer service matters can be resolved via email. It would be beneficial if they had the option for online chat live support.

Core Spreads Review: Deposit & Withdrawal

Core Spreads offer Wire Transfer and Credit/Debit cards for depositing and withdrawing funds from your trading account. It would be beneficial if they offered some online payment processors such as Skrill, Neteller and PayPal for convenience.

Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. Bank transfers may take a few business days to clear whilst some methods can be instant.

Core Spreads strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your Core Spreads trading account.

Accounts can be opened in EUR, GBP, USD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.

Core Spreads Review: Account Opening

Opening an account with Core Spreads is a quick and easy process. There is a short online form and questionnaire to complete. You will then need to verify your account with a proof of identification (e.g. passport or drivers license) and verify your address with a utility bill or bank statement, no more than 3 months old. This is a normal part of the KYC procedure. Once your account has been verified you will be able to fund it and start trading.

Core Spreads Review: Account Registration Form

Core Spreads Review: Account Registration Form

Core Spreads Review: Conclusion

Core Spreads is a multi-regulated online broker with a wide range of assets available to trade across multiple markets with fixed or variable spreads and competitive fees. They have flexible trading platforms although there is a lack of additional trading tools and educational materials that some beginners may have found beneficial. However, this broker is more focused on delivering superior trading conditions rather than all the “bells & whistles”.

Financial spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59.9% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Min $10 Deposit

Core Spreads is a multi-regulated online broker with thousands of assets across multiple markets available to trade with fixed or variable spreads & low fees.