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Core Spreads Review - Regulation, Minimum Deposit & Withdrawal

Core Spreads Review: Regulation, Minimum Deposit and Withdrawal

RATING: 3 / 0 REVIEWS Core Spreads
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Trading Accounts

 

Account type   Minimum deposit  Min. Trade Size Maximum leverage Spreads (& Commission)   Trading platform
Spread Betting $10 0.01 1:175 Fixed, 0.7 pips on EUR/USD Core Trader 2
CFDs $10 0.01 1:175 from 0.7 pips on EUR/USD+ $1.50 / lot per side MT4

 

Core Spreads is a UK brokerage offering spread betting and CFD trading services. Spread betting is provided through the broker’s in-house Core Trader 2, while CFDs trading is available on the popular MetaTrader 4 platform.  

 

The Company. Security of Funds

 

Company

Country

Regulation

Finsa Europe Ltd.

UK

FCA

 

Launched in 2014, Core Spreads offers trading in wide range of financial instruments: Forex pairs, indices, commodities, UK, US and European equities on two trading platforms. This is in fact one of the brands operated by London-based Finsa Europe Ltd (Finsa). It also behind the Financial Spreads and PipIndex brands. Finsa is duly authorized and regulated by the Financial Conduct Authority (FCA).

 

All FCA-licensed brokerages are required to hold net tangible assets amounting to at least 730 000 EUR and are obliged to adhere to a number of standards and procedures, for instance, to hold clients` money in segregated accounts, to send regular reports on trades to the commission, etc.

 

Besides, FCA-regulated companies fall under Financial Services Compensation Scheme (FSCS), which protects consumers up to £50,000 per person. Here you may check out more FCA regulated forex brokers.

 

Trading Conditions

 

Minimum Initial Deposit

There is no minimum deposit amount at Core Spreads. Yet, in order to start trading, one has to invest at least $10. By comparison, leading UK CFDs and spread betting provider IG, has not set any minimum initial deposit requirement either.

 

Average spreads & Commissions

Core Spreads offers tight fixed spreads and commission-free trading on spread-betting accounts (0.7 pips on EUR/USD), and variable spreads from 0.7 pips on EUR/USD on CFD trading accounts. CFD trades also involve a small commission of $3 per standard lot (rountrip), so basically trading costs for EUR/USD are around 1.2 pips, which is a competitive pricing.

 

In comparison, IG’s average spreads on commission-free accounts amount to 0.8 pips on EUR/USD. You may also check out real-time spreads of 15 leading brokers here for further information and comparison.

 

Maximum Leverage

This broker offers a maximum leverage ratio of 1:175, which is considered average. By comparison, IG provides similar maximum leverage levels - up to 1:200. If you need higher leverage levels, here is a list of brokers offering leverage levels equal to or exceeding 1:500.

 

Keep in mind that higher leverage involves greater risks of losses, which may even exceed your initial deposits. That is why FCA recently proposed a leverage cap of 1:50.

 

Trading Platforms

 

Core Spreads offers the most popular forex trading terminal, MetaTrader 4, as well as its proprietary platform.

 

CoreTrader 2 is the broker’s in-house web and app based spread betting platform, which offers most basic functionalities all trading platforms provide, such as advanced charting package, a choice for 1 or 2-click trading, Guaranteed Stop and Stop Loss, etc.

 

Unfortunately, Core Spreads’ in-house platform does not offer signals trading options, which are gaining popularity lately.

 

 

Besides, Core Spreads supports the most widely used MetaTrader 4, a professional, fully-featured software. Unlike Core Spreads’ in-house platform, MT4 provides its clients with the opportunity to fully automate their trades via Expert Advisors (EA). With this broker, it is available as desktop and mobile versions.

 

Promotions

This broker offers different promotions:

 

- Welcome bonus worth up to 50% of the client’s first month’s spread (up to £2,500 or equivalent in another currency) available to all new CoreTrader account holders;

- Refer a friend program, under which both the referral and the referred ones get £125;

- Loyalty Scheme, available to all CoreTrader and MT4 account holders, under which clients can get rebates as high as 25% (when they trade, follow the broker or retweet one of their posts on twitter or like them on Facebook, etc.).

 

Methods of Payment

 

The payment methods available to Core Spreads` clients are credit/debit card, bank wire and e-wallets Skrill.

 

Conclusion

 

Core Spreads is a FCA-regulated CFDs and spread betting broker, offering attractive trading conditions on two trading platforms. To sum up the above, here are the advantages and disadvantages with regard to Core Spreads:

 

Pros Cons
FCA regulation No daily analysis and news provided
Tight spreads No advanced autotrading options
Choice of trading platforms, MT4 available Limited payment methods
Bonuses available  

 

Latest news about Core Spreads
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Traders` reviews for Core Spreads

Spread

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Slippage

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Requotes

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Price feed

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Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

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