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An Honest Core Spreads Review in 2022

Last updated 16th Aug 2022
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Financial spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.1% 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.

Core Spreads is an international broker that offers over 1,000 instruments for day trading and spread betting. View and trade CFDs, commodities, indices, and forex. Our review will look at Core Spread’s fees, deposits, withdrawals, registration process, and more. Read on for the full review.

Core Spreads was founded in 2009 by Finsa Europe Limited. The broker is available in over 150 countries globally. The headquarters are based in London. The company is regulated by the FCA in the UK, the ASIC in Australia, and FSCA in South Africa.

Core Spread offers two platforms for users: CoreMT4 (for CFD trading) and CoreTrader (for spread betting). CoreMT4 must be downloaded to your desktop or device. CoreTrader is a web-based platform available through your browser.

Some of the CoreMT4 key features include:

  • User-friendly interface

  • Many analysis tools

  • Instant and pending order

  • Quick trading

  • Customer support 24/5

  • Fast execution speeds

  • Personalized charts and graphs

  • Over 100 technical indicators

CoreTrader’s key features include:

  • Customer support

  • Demo accounts availability

  • Customizable charts

  • Direct trade from charts

  • In-depth technical analysis

  • Intuitive interface

  • Risk management functions

*Please note: Core Spreads is no longer accepting new users. If you want to register with the company, you need to go to Trade Nation or follow the signup link on the Core Spreads homepage.

Core Spreads Overview

💼 Provider Type:Broker
💸 Minimum Deposit:$0
💰 Trading Fees:Varied
💰 Deposit Fees:None
💰 Withdrawal Fees:None
💰 Management Fees:Varied
🔀 Minimum trade order$0.50
⌛ Withdrawal Timeframe:3 business days
#️⃣ Number of Cryptocurrencies Supported:0
#️⃣ Number of Crypto Pairs Supported:0
💱 Top supported Cryptocurrencies:0
📊 Leverage:1:30
📱 Native Mobile App:Yes
🖥️ Free Demo Account:Yes
🎧 Customer Support:Email, Phone, Social Media
✅ Verification required:KYC
📈 CFD AvailableNo
📊 Software:Website, web app, mobile app
⚽ Social Trading:No
✂️ Copy Trading:No
👮‍♂️ RegulatorsASIC (Australia), FSCA (South Africa), ESMA (Europe)

Pros And Cons Of Using Core Spreads

Pros

Available in many countries
Two platforms are available
Quick execution speeds
User-friendly interface design
Many tools, instruments, charts, and features

Cons

Mobile app less user-friendly than the desktop version
No promotions or bonuses for new or existing clients
Cannot trade underlying cryptocurrency asset

Core Spreads Cryptocurrencies And Trading Options

What Cryptocurrencies Can You Trade On Core Spreads?

Core Spreads does not let you trade cryptocurrencies.

Different Trading Options Offered By Cryptocurrencies

Core Spreads offers different types of trading depending on which platform you use. CoreMT4 offers CFD trading and CoreTrader offers spread betting.

Spread Betting

Core Spreads offers:

  • Over 1,000 UK, US, and European equity shares.

  • Five energies and metals, including oil and gold.

  • 16 global stock indices, including US500, Germany30, and UK100

  • 34 currency pairs, including USD/CAD and EUR/USD

CFD Trading

  • 13 energy and metal commodities, including oil, gold, and silver.

  • 13 globe stock indices, including US30, UK100, and HK50

  • 40 forex pairs, including CGP/USD and EUR/GBP

Can I Trade With Leverage On Core Spreads?

Leveraged trading is capped at 1:30 maximum (as specified by ESMA trading regulations. Maximum leveraged trading differs by asset:

  • Commodities – 1:10

  • Equities – 1.50

  • Major forex pairs – 1:30

  • Minor forex pairs – 1:20

  • Indices – 1:20

Leveraged trading carries additional risk. Beginners should exercise caution. Only spend what you can afford. Leveraged bets can be liquidated and you cannot owe more than your initial investment.

What Are The Spreads?

Spreads change based on your account type. Spread rates are competitive compared to other brokers. When spread betting, forex pairs have a fixed rate of 0.6 to 0.8 pips. However, indices are offered at 0.4 pips or higher.

CoreMT4 has variable spreads on CFD trades. Major forex pairs have a minimum of 1.2 pips, while indices start at 1.0 pip; metals and energies start at 3.5 pips. Head to the Core Spreads sight for more spread details.

Fees, Limits, And Payment Options On Core Spreads

What Are the Deposit And Withdrawal Fees, Limits, And Speeds?

Core Spreads offers numerous deposit and withdrawal methods. These include:

Deposit Methods

Core Spreads has no minimum deposit requirements to register for a live account. Users can add funds in multiple fiat currencies, including USD, GBP, EURO, ZAR, and ZAR. Core Spreads accepts these payment methods:

  • Skrill e-wallet

  • Debit or credit card (Mastercard, Amex, or Visa)

  • Bank wire transfer

Core Spreads has zero deposit feeds with any payment option. The broker does not publish processing times; debit cards and e-wallet transactions usually reach your account instantly.

Withdrawal Methods

Core Spreads does not have any withdrawal fees. However, Core Spreads pays funds back via the initial payment method. Minimum withdrawal of $50. Core Spreads processes all withdrawals within 24 hours. However, transaction times change depending on your payment method.

How Much Are Core Spreads Fees And Commissions?

Core Spreads does not charge any commission on spread betting. However, the broker charges $1.50 per lot on CFD accounts. In addition, the broker charges a swap rate for overnight positions at 2.5% +/- Libor.

There are no deposit or withdrawal fees. However, you may incur credit card transaction fees from your bank. Check possible fees with your banking provider beforehand.

Trade Sizes and Limits

CoreMT4 accounts have a minimum order of 0.01 per lot. However, CoreTrader users have a minimum order of $0.50. There is no information on maximum trade sizes or limits.

Core Spreads Trading Platform

What Devices Can I Use Core Spreads On?

You can access Core Spread’s trading platform on a few devices. These include:

  • Desktop: CoreMT4 must be downloaded onto a desktop device. You can enjoy CFD trading, access tools, charts, and instruments, manage your account settings, and more.

  • Browser: CoreTrader is a browser-based way to place spread bets. Make trades, manage your profile, access tools, explore the market, and more.

  • Mobile: Core Spreads has a mobile app available for free on iOs and Android devices. Use the app in most major locations (including Australia, the UK, and Europe). App users have all Core Spreads trading features and can complete transactions with ease. Customer support is available through the app as well. However, technical analysis is difficult to conduct via mobile.

Can I Use In Any Country?

Core Spreads is available in over 150 countries. Some of the most popular Core Spreads countries include:

  • Australia

  • UK

  • Canada

  • South Africa

However, US traders cannot use Core Spreads as CFD trading is prohibited in that jurisdiction. Check CFD trading laws in your jurisdiction to make sure you can use Core Spreads trading features.

Is Core Spreads Available In My Language?

Core Spreads is available in numerous languages. Some of these language options include:

  • English

  • Spanish

  • French

  • German

How Easy Is It To Use Core Spreads?

Core Spreads is easy to use. With an intuitive interface and many tools, instruments, charts, and features, users can trade commodities, currencies, indices, and shares via their preferred strategy.

Both the mobile and desktop are responsive, but some users found technical analysis more difficult on the mobile device. The broker has many tutorials to get you started and a demo account so you can learn how to use the platform before using real money.

Key Features

Some of Core Spreads key features include:

Demo Account

Core Spreads has a demo account on CoreMT4 and CoreTrader. A demo account is useful to understand platform functionality, explore the interface, and develop trading strategies. Once you have registered, use $10,000 virtual funds and test your trading plan. Also, a demo account lets you practice leveraged trading without risking actual funds in a simulated market.

Two Platforms

Core Spreads offers two different platforms for CFD trading and spread betting. Each platform has different spreads, commissions, and commodities. Users can create an account on one platform or both. Both platforms can be accessed on mobile, desktop, and browser.

No Account Tiers

All Core Spreads features are available to all registered users. Account-holders do not need to pay for additional features. Everything is included once your account has been approved.

Security and Regulation

Is Core Spreads Safe?

Core Spreads features high-security protocols to keep you and your funds safe. User portal access is protected with two-factor authentication. CoreMT4 and CoreTrader feature SSL encryption and data privacy. In addition, funds are kept in segregated accounts, adding an extra layer of security in the event of data breaches or hacks. Users also have to pass a KYC process before trading.

Am I and My Cryptocurrency Protected?

Core Spreads is a trading platform. You cannot trade cryptocurrency or crypto CFDs on Core Spreads. However, your fiat funds are secured in segregated accounts.

Retail traders are protected by an FSCS compensation plan for up to £85,000 in the event of insolvency.

Is Core Spreads Regulated?

Yes, Core Spreads is regulated by the Financial Conduct Authority in the UK and adheres to FCA guidelines.

Core Spreads is also regulated by the following bodies:

  • ASIC (Australia)

  • FSCA (South Africa)

  • ESMA (Europe)

Do I Have to Verify My Account With Core Spreads?

Yes. FCA regulations require all brokers to confirm user identities during the registration process. Users must upload identification documents, proof of residency to create a live account. This can be your passport, driving license, bank statement, utility bill, etc.

In addition, users must provide a valid email address and phone number before completing their registration.

Most registrations take one working day to be approved. Ensure you have the relevant documents to avoid delays.

Extra Information

Educational Resources

Core Spreads offers numerous additional educational features like market analysis reports, investing tutorials, final trend opinion pieces, and insights. Users can also access forex trading strategies and tips, plus informative video content regarding currency pairs. In addition, market information documents (applicable for both platforms) are available for download. These sheets break down trading hours, stopping distances, and spreads.

Tools and Charting

Core Spreads has many tools and charts to help users execute trading strategies. These include:

  • Spread betting

  • Commodities

  • Forex

  • Indices

  • Equities

  • Customizable charts and graphs

  • Trading directly for charts

  • Technical indicators

  • In-depth risk management tools

  • Access to expert advice

  • One-click trading tools

  • And more

Customer Support

Core Spreads has numerous customer support channels available 24/5:

  • Email – support@corespreads.com

  • Telephone – 08008620780 (free calls for UK users) or +442034754830 (international users)

  • Address – 9th Floor, 30, Crown Place, London, EC2A 4ES

Additionally, Core Spreads is on numerous social media platforms, including LinkedIn and Facebook.

Unfortunately, there are no FAQ sections or helpdesks on the website to answer any customer queries.

How To Open An Account With Core Spreads

Unfortunately, Core Spreads is no longer accepting new users. The broker is transitioning to their global broker brand, Trade Nation. IF you want to create an account with Trade Nation, follow these steps:

  • Step 1 - Sign up

Head over to Trade Nation or follow the redirection link on Core Spreads

  • Step 2 - Select account type

Decide between CoreMT4 and CoreTrader and input your personal details into the on-screen form.

  • Step 3 - Verify your email

Check your email inbox for a verification email

  • Step 4 - Set your experience level

Add your relevant trading experience and knowledge

  • Step 5 - Verify your identity

Follow the KYC process and provide photographic ID and proof of address. Wait for your account to be approved (this takes around one working day)

  • Step 6 - Use demo account

It is suggested to use the demo account until you are comfortable with the platform

  • Step 7 - Make a deposit

Deposit funds into your account with your preferred payment method

  • Step 8 - Start trading

Make your first trade and enjoy Core Spreads

Is there an alternative to crypto brokers?

Yes, there are many more ways to trade cryptocurrencies such as using cryptocurrency robots. Check out some of our reviews for the best trading robots:

Is there an alternative to Core Spreads?

1
eToro
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Exclusive Promotion
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Buy crypto, or trade cryptocurrencies via CFDs
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Final Thoughts

Core Spreads is a comprehensive broker for experienced day traders. With no deposit or withdrawal fees and a low minimum withdrawal, Core Spreads benefits frequent traders looking for a value-for-money broker. Additionally, keep in mind that Core Spreads is transitioning to Trade Nation – their global broker brand – and you won’t be able to create a new account on Core Spreads. However, Trade Nation offers a very similar service.

Unfortunately, Core Spreads does not allow crypto CFD trading. If you are looking for crypto CFD trading, try eToro or Pionex instead. However, Core Spreads does offer many other currencies, indices, commodities, metals, and energies from many global markets. Remember to use caution when trading with leverage, especially if you are a new account holder.

Core Spreads is a highly secure broker that follows financial regulations. Users will need to provide documentation to create an account. The broker offers numerous customer support options and educational resources to help users make smarter traders. The Core Spreads demo account is also good for beginners who require risk-free trading practice beforehand.

Amala Pillai

Amala Pillai

Amala is custom content and news editor based in London. She is a former financial journalist based in Singapore with 7 years of experience covering a range of business and financial topics. Now she focuses on crypto and macro-economics. She has also covered feature profiles, tech, business politics and ESG— she was the Environment Editor for the Solutions Newspaper, 2016 and worked in an editorial capacity at both News corp (Dow Jones) and JBN. She also has experience as a content creator, strategist and brand editor for various financial institutions and banks.