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Core Spreads Review
Core Spreads offers its clients access to thousands of markets using two trading platforms: CoreTrader 2 and MetaTrader 4. Whether traders choose CFDs or spread betting, Core Spreads allows them to trade forex in over 30 of the most prominent currency pairs, as well as gold, silver, and Brent crude oil through Core Spread’s commodities options.
Users may also trade shares in the United Kingdom, Europe, and the United States, as well as a variety of prominent indexes.
Regulated by the Financial Conduct Authority (FCA), Core Spreads is fully compliant with the European Securities and Markets Authority (ESMA).
- Min. deposit from $1
- Segregates client funds
- Regulated by Financial Conduct Authority
- Established in 2014
- Limited range of instruments
- Doesn’t allow EAs (See alternatives)
- Not ASIC Regulated (See alternatives)
A minimum deposit of $1 is required to create a live account. Core Spreads also offers a demo account that you may use to experiment and become acquainted with their platform.
Regulated by the Financial Conduct Authority in the United Kingdom (FRN: 525164), Core Spreads keeps all customer funds in a separate bank account and works with tier-1 institutions to do so. Core Spreads has been in business since 2014, with headquarters in the United Kingdom.
While we show you the specifics of Core Spreads’ spreads, fees, platforms, and trading tools, you may want to open their website in a new tab by clicking the button below to get the most up-to-date information straight from them.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
What are the spreads and costs for Core Spreads?
Core Spreads, like other brokers, charges a fee on the spread, which is the difference between both the purchase and sell price of an asset.
The commissions and spreads shown here are based on the Core Spreads website’s minimum spreads.
|Forex||Core Spreads||City Index||XTB|
|EUR/USD(Average: 0.7 pips)||0.6 pips||0.7 pips||0.1 pips|
|GBP/USD(Average: 1.1 pips)||0.8 pips||1.7 pips||0.1 pips|
|USD/JPY(Average: 1.1 pips)||0.7 pips||0.6 pips||0.1 pips|
|AUD/USD(Average: 0.8 pips)||0.8 pips||0.6 pips||0.2 pips|
|USD/CHF(Average: 2.3 pips)||1.4 pips||2.3 pips||0.2 pips|
|USD/CAD(Average: 2.9 pips)||0.9 pips||0.5 pips||0.3 pips|
|NZD/USD(Average: 3.6 pips)||1.8 pips||2.8 pips||0.3 pips|
|EUR/GBP(Average: 2.4 pips)||0.6 pips||0.5 pips||0.1 pips|
As you can see, the minimum spread for trading EUR/USD with Core Spreads is 0.6 pips, which is relatively low in comparison to the average EUR/USD spread of 0.70 pips. The table below calculates the output of trading one lot of EUR/USD with Core Spreads to similar brokers.
How much does it cost to trade 1 lot of EUR/USD using Core Spreads?
If you bought one standard lot of EUR/USD (100,000 units) using Core Spreads at 1.1719 and then sold it the next day at the identical price, you would most likely pay $9.15. Here is a general summary of the fees and how they compare to IG and XTB.
|Spread from:||$ 6.00||$ 6.00||$ 2.00|
|Total cost of a 100k trade:||$ 6.00||$ 6.00||$ 2.00|
|$0 less||$4 less|
|VISIT Core Spreads||VISIT IG||VISIT XTB|
All fees/prices are for informational purposes and are subject to change.
Core Spreads may be used to trade a variety of instruments.
Core Spreads provides over 1,605 distinct trading products, including over 30 currency pairings. We’ve reviewed all of the numerous types of instruments offered by Core Spreads below, along with IG and XTB instruments for comparison.
|FX / Currencies||Core Spreads||IG||XTB|
|# of forex pairs offered||30||90||48|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|Commodity CFDs||Core Spreads||IG||XTB|
|# of commodities offered||9||34||21|
|Index & Stock CFDs||Core Spreads||IG||XTB|
|# of stocks offered||1550||8000||1606|
|SEE CORE SPREADS’S INSTRUMENTS||SEE IG’S INSTRUMENTS||SEE XTB’S INSTRUMENTS|
What’s the Core Spreads trading experience like?
1) Platforms and apps
Core Spreads provides the well-known MT4 forex trading platform. See our MT4 broker comparison for a list of the best MT4 brokers. They also provide their proprietary CoreTrader platform.
They now provide mobile apps for Android and iOS, making it easy to monitor and execute trades while on the go.
2) Executing Trades
Core Spreads allows you to make a transaction for as little as £0.50. This may differ based on the type of account you establish. The maximum trading requirements differ based on the trader account and the instrument.
Core Spreads, as a market maker, may have lower entrance criteria than an ECN broker, who benefits from a higher number of transactions and generally has higher capital and minimum trading requirements. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.
Margin requirements, like those of other brokers, vary based on the trader, account, and instrument. The most recent margin requirements may be seen on their website.
Finally, we’ve included some of the more popular funding methods available to Core Spreads clients.
- Low min deposit
- Guaranteed stop loss
- Allows scalping
- Allows hedging
- Micro account
- Standard account
- Demo account
- Credit cards
- Bank Transfer
3) Client support
Core Spreads only support a few languages, including English.
4) What you’ll need to open an account with Core Spreads
Because Core Spreads is regulated by the Financial Conduct Authority, every new customer must pass a few simple compliance tests to verify that you know the implications of trading and that you are permitted to trade. When you establish an account, you will most likely be asked for the following information, so keep it handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to complete a few basic compliance inquiries to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.
While you may be able to browse their platform immediately, it is essential to note that you will not be able to execute any transactions until you pass compliance, which might take several days depending on your scenario.
79% of retail investor accounts lose money when trading CFDs with this provider.