Core Spreads review 2024
Core Spreads review Summary
Providing a choice of two trading platforms – CoreTrader and MetaTrader 4 – Core Spreads supports forex, commodity, stock, and index trading with razor sharp execution speeds. Keep reading to find out more.
What can I do with Core Spreads?
Core Spreads facilitates both spread betting and CFD trading on a wide range of asset classes, including forex, commodities, stocks, and indices.
You can get a feel for either of their stock trading platforms by opening a demo account which gives you a virtual £10,000 to practice with. Once you are ready to upgrade, Core Spreads live accounts offer fast trade execution, autotrade functionality, and ultra-low spreads.
Pros & Cons
Pros:
Cons:
Can I open an account with Core Spreads?
Core Spreads markets, assets, and options
What assets and products can you trade on Core Spreads?
With Core Spreads you can trade CFDs and carry out spread betting on forex, stocks, commodities, and indices. There are over 34 major, minor, and exotic forex currency pairs to choose from, over 1,000 quoted shares from multiple major exchanges, and 12 major indices.
The stock CFDs available include well-known companies such as Apple, Facebook, Google, Netflix, and Twitter. See the table below for all of your trading options with Core Spreads.
| Product (CFDs) | Offering |
|---|---|
| Forex | 40 |
| Commodities | 11 |
| Stocks | 1,550 |
| Indices | 12 |
What leverage trading options are there?
The maximum leverage provided by Core Spreads on regular accounts is 1:30, but can go up to 1:200 on forex pairs for professional accounts. Generally, the amount of leverage you can trade with on Core Spreads is lower than you can find with other brokers.
Leveraged trading carries an extra risk factor and should only be handled by experienced traders. We do not recommend that any beginner investor trades with leverage.
| Product (CFDs) | Maximum leverage | Margin |
|---|---|---|
| Forex | 1:200 | 0.5% |
| Commodities | 1:10 | 10% |
| Stocks | 1:5 | 20% |
| Indices | 1:20 | 5% |
What are the spreads?
Core Spreads offers very competitive spreads starting from 0.6 pips with no hidden transaction fees or deposit/withdrawal fees. See the table below for all the average spreads.
| Product | Average spread | Fixed or variable? |
|---|---|---|
| Forex | 0.80 pips | Variable (depending on what currency pair you are trading) |
| Commodities | 1.2 pips | Fixed |
| Stocks | 0.20 pips | Fixed |
| Indices | 1 pip | Fixed |
Fees, limits, and payment options on Core Spreads
What are the deposit and withdrawal fees, limits, and speeds?
The deposit/withdrawal options are somewhat limited on Core Spreads, but you can pay via either debit/credit card, bank transfer or e-wallet. See the table below for all payment options.
| Payment method | Depoist | Withdraw |
|---|---|---|
| Debit/Credit card – min/max – fees – speed | Yes €1/€35,000 Free 24 hours | Yes €25/€35,000 Free 1-2 days |
| Bank Transfer – min/max – fees – speed | Yes €1/€35,000 Free 2-3 business days | Yes €25/€35,000 Free 4-5 business days |
| Skrill – min/max – fees – speed | Yes €1/€35,000 1% Instant | Yes €25/€35,000 None 24 hours |
| Payoneer – min/max – fees – speed | Yes €1/€35,000 1% Instant | Yes €25/€35,000 None 24 hours |
How much are Core Spreads’s fees and commissions?
Core Spreads charges fixed fees of $1.50 per lot, but unlike other platforms it doesn’t have an inactivity fee on accounts. It also makes commissions on both fixed and variable spreads starting from 0.6 pips. See the table below for all commissions.
| Fee type | Fee amount | Commission |
|---|---|---|
| Forex | $1.50 lot | 0.98 pips |
| Commodities | $1.50 lot | 1.2 pips |
| Stocks | $1.50 | Variable |
| Indices | $1.50 lot | Variable |
Core Spreads trade sizes and limits
Depending on the trading platform you’re using, you will be required to trade a minimum of 0.01 lots or the equivalent of $0.50 in your account’s currency and there are no trade block limits. See the table below for all trade limits.
| Product | Minimum trade | Maximum trade |
|---|---|---|
| Forex | 0.01 lots | – |
| Commodities | 0.01 lots | – |
| Stocks | $0.50 | – |
| Indices | 0.01 lots | – |
Core Spreads trading platform
What devices can I use Core Spreads on?
Core Spreads two trading platforms, MetaTrader 4 (MT4) and the proprietary CoreTrader platform and app are available on:
- Laptop computers
- Desktop computers
- Smartphones (both iOS and Android)
- Tablets
Can I use Core Spreads in my country?
Core Spreads is available in more than 150 countries and territories, including the UK, France, Germany, Spain, and Portugal. Click on the dropdown list below to see if Core Spreads is available in your country.
Is Core Spreads available in my language?
Core Spreads only provides support in English at present time.
How easy is it to use Core Spreads?
Core Spreads’ two trading platforms – MetaTrader 4 and CoreTrader – both have simple, intuitive interfaces to make trading as easy as possible. They are also accessible via web, desktop or mobile apps.
The CoreTrader app is easy to use and comes with an integrated FAQ section to answer the most common questions you might have. Setting up an account is also straightforward and can be completed in just a few steps. However, there are very limited learning resources available, which makes the broker more suitable for experienced traders.
Key features
Here are three of aspects of Core Spreads that we find make the broker particularly attractive for online investors.
No minimum deposit
As opposed to other similar trading platforms where you might be required to make initial deposits of hundreds of dollars, Core Spreads doesn’t require a minimum amount. You can start trading with as little as $1.
Demo account
If you wish to polish your trading strategies or simply learn the ropes, you can start by opening a demo account. You will get a $10,000 virtual deposit and you perform up to 500 virtual trades before switching to a live account.
Spread Betting
Through its spread betting provision, Core Spreads gives you the chance to profit from the rise or fall of a financial product without having to actually own the underlying asset. Similarly to CFDs, you only need to deposit a small percentage of the total value of your trade.
Security and regulation
Is Core Spreads safe?
Core Spreads is a secure broker, and is authorised and regulated by the Financial Conduct Authority (FCA). For added security, all Core Spreads client funds are held in segregated bank accounts at tier-1 banks.
Am I and my funds protected?
Yes, Core Spreads operates a policy of segregated accounts, which means the broker keeps clients’ funds separate from the funds of the brokers’ operation.
Each client is also covered by the Financial Services Compensation Scheme (FSCS) under FCA rules of operation that guarantees clients’ funds up to £85,000.
Is Core Spreads regulated?
Yes, Core Spreads is an authorised and registered broker in the United Kingdom. The broker is subject to Financial Conduct Authority regulation in the UK, which has some of the most stringent rules and requirements in the world.
Under the rules of the FCA, Core Spreads’ conduct is regulated and it has the duty to conduct all business in an honest, fair, and professional manner, acting in its clients’ best interests.
Do I have to verify my account with Core Spreads?
Yes, if you want to open a Live account on Core Spreads you will need to have your personal information verified. To have your account verified and get started, you have to provide the following information:
- An acceptable form of ID (colour copy of: valid passport/ national ID/ driver’s license)
- Proof of address (utility bill/ council tax demand/ other documentary proof of address issued by a public body/ bank or credit card statement).
Your ID card must present your full name, a unique ID number, your birth date, place of birth, a visible photo, your signature, and your nationality.
Extra information
Educational resources
Currently Core Spreads doesn’t provide much in the way of educational resources for traders. Apart from blog posts, which contain some trading tutorials and financial analysis from expert traders, there isn’t much available for people looking to learn more about trading. The remainder of materials on Core Spreads are short video market analyses that are no longer than 5 minutes in run time.
Tools and charting
Much like with educational resources, there are few trading tools offered by Core Spreads. There are all the standard features built into the MetaTrader 4 platform, such as signals, automated trading, and analytical tools like interactive charts, different timeframes for trade setups, and technical indicators – but not much in addition to this.
Core Spreads own CoreTrader platform is beautifully simple, but lacking in enhanced features apart from fast execution speeds and tight spreads.
Customer support
Customer support is available 24 hours per day, 5 days per week via either phone, live chat, or email, but only in English. You can contact customer service through a toll-free number in the UK or a phone number designated for international users.
Our verdict
Core Spreads is a reliable broker that flowers a good service to its users. It has two trading platforms – its own proprietary CoreTrader platform and the globally recognised MetaTrader 4 platform. These come equipped with all the standard features traders expect today such as ultra-fast trade execution times, up-to-the-second quotes, and multiple analytical functions like interactive charts, trade indicators, and signals. Both platforms are fully accessible via web, desktop, and mobile apps.
Core Spreads also provides access to a wide range of 1,550 tradable CFDs, including forex pairs, commodities, stocks, and indices. The platform doesn’t as yet allow for any cryptocurrency trading.
In regards to user security, Core Spreads is authorised and regulated by The Financial Conduct Authority (FCA) which is one of the most widely recognised financial regulators in the world. This makes it a broker you can trust, and also offers you protection under the FSCS if Core Spreads were to run into problems.
One of the areas in which Core Spreads is lacking is its small number of educational resources for traders and standard, albeit not advanced trading features. That said, it’s still a reliable broker to place trades with, and offers impressively low spreads.
How to open an account with Core Spreads
To open a demo account all you need is an email address. If you wish to turn your demo account into a live one, here’s how you do it:
- Go on the platform’s website and click “Open An Account” on the top right hand side
- Fill in your personal details such as name, date of birth, phone number, email address, and physical address.
- Create your username & password for the account.
- Upload one valid, primary photo ID & a second ID with your billing address such as a utility bill.
- Once your documents are verified (which can take up to 24-48 hours) you will be ready to start trading.
Who owns Core Spreads?
How does Core Spreads make money?
Do I have to pay tax on Core Spreads profits?
Does Core Spreads offer CFD trading?
How do I sell on Core Spreads?
How do I delete my Core Spreads account?
How can I short on Core Spreads?
What if I forget my account password?
Can I transfer from my Core Spreads account into my PayPal account?
What if Core Spreads closes down while I have open trades?
Can I access my full trading history on Core Spreads?
Can I pay in cryptocurrency with Core Spreads?
Does Core Spreads offer bonuses?
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Sources & references
Risk disclaimer
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >
