Core Spreads Review: Can You Trust Them?

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Overview

Risk Warning: Your Capital is at Risk

Core Spreads is a derivative brokerage firm based in the United Kingdom that takes a straightforward approach to trading. The firm emphasizes low-cost trading, a solid trading platform and strong customer service, but has few other frills.

Core Spreads offers customers a platform for spread betting and trading forex and Contracts for Difference (CFDs). CFDs allow traders to speculate on the price of assets without actually owning them in their accounts. Core Spreads provides trading in indices, shares, forex and commodities.

Core Spreads has been recognized for its superior product offerings and services. The broker won an award for Best Value Forex Broker at the 2017 UK Forex Awards.

Core Spreads’ spread betting traders have access to the CoreTrader proprietary platform, while CFD traders have use of the industry standard MetaTrader4 (MT4) platform. Both provide traders with access to indices, forex and commodities trading, while the CoreTrader platform provides traders with access to more than 950 UK equities, 500 US equities and 100 European equities. Both platforms have mobile options.

Core Spreads is regulated in the United Kingdom and serves clients across the globe. Please remember, while Core Spreads is a responsible broker, losses can still exceed deposits. CFD trading is for experienced traders.

This review of Core Spreads will cover the important facts about the broker and discuss its strengths and weaknesses.

Why Choose Core Spreads?

What's Good About Core Spreads?What Could Core Spreads Do Better?
Tick IconTrustworthy broker (we scored Core Spreads 85/100 in our broker trust rating)Website and support are only available in English
Tick IconNo minimum deposit amountMaximum leverage of 1:200
Tick IconNo deposit or withdrawal feesNot as many product offerings as most other brokers
Tick IconWelcoming bonus available (up to £2,500)Lack of news and fundamental analysis
Tick IconEasy-to-use platform with plenty of familiar trading toolsNo educational resources
Tick IconFantastic range of technical indicators and studies
Tick Icon24/5 customer support via phone, live chat or email

Core Spreads - Essential Information

 Core Spreads Logo
www.CoreSpreads.com
OverviewLow-cost trading with a high-performance provider
Our Overall Rating
Broker Trust Rating85/100
Founded2009
ProductCFDs
Forex
Spread Betting
MarketsIndices
Shares
Bonds
Commodities
Cryptocurrencies
Forex
Countries ServedMore than 150
Minimum DepositNone
FeesFees depend on the product being traded. There are no deposit or withdrawal fees. See here for full list of fees
Regulator(s)Financial Conduct Authority
Customer Support24/5 email, live chat and phone in English
Demo AccountYes - unlimited use

History of Core Spreads

Core Spreads is a trading name of Finsa Europe Limited, a company registered in England and Wales under number 07073413. Finsa Europe began operating under the name The Trader Management Company Ltd. on November 11, 2009, and changed its name to Finsa Europe Limited on June 26, 2014.

Core Spreads has headquarters at the Tower Bridge Business Centre in London, United Kingdom. Finsa Europe is authorized and regulated by the Financial Conduct Authority and has the Financial Services Register number – 525164.

Core Spreads offers customers dedicated 24/5 customer support in English. Traders can contact customer service through its toll-free number in the United Kingdom, its local phone number for international users, email or live chat.

Where Does Core Spreads Operate?

Core Spreads is available in the following countries:

See all the countries Core Spreads operates in

  1. Aland Islands
  2. Albania
  3. Andorra
  4. Anguilla
  5. Antarctica
  6. Antigua and Barbuda
  7. Argentina
  8. Armenia
  9. Aruba
  10. Australia
  11. Austria
  12. Azerbaijan
  13. Bahamas
  14. Bahrain
  15. Bangladesh
  16. Barbados
  17. Belarus
  18. Belize
  19. Benin
  20. Bermuda
  21. Bhutan
  22. Bolivia
  23. Bonaire, Saint Eustatius and Saba
  24. Botswana
  25. Bouvet Island
  26. Brazil
  27. British Indian Ocean Territory
  28. Brunei Darussalam
  29. Bulgaria
  30. Burkina Faso
  31. Burundi
  32. Cambodia
  33. Cameroon
  34. Cape Verde
  35. Cayman Islands
  36. Central African Republic
  37. Chad
  38. Chile
  39. China
  40. Christmas Island
  41. Cocos (Keeling) Islands
  42. Colombia
  43. Comoros
  44. Congo
  45. Congo, The Democratic Republic of the
  46. Cook Islands
  47. Costa Rica
  48. Cote d’Ivoire
  49. Croatia
  50. Cuba
  51. Curacao
  52. Cyprus
  53. Czech Republic
  54. Denmark
  55. Djibouti
  56. Dominica
  57. Dominican Republic
  58. Ecuador
  59. Egypt
  60. El Salvador
  61. Equatorial Guinea
  62. Eritrea
  63. Estonia
  64. Falkland Islands (Malvinas)
  65. Faroe Islands
  66. Fiji
  67. Finland
  68. France
  69. French Guiana
  70. French Polynesia
  71. French Southern Territories
  72. Gabon
  73. Gambia
  74. Georgia
  75. Germany
  76. Ghana
  77. Gibraltar
  78. Greece
  79. Greenland
  80. Grenada
  81. Guadeloupe
  82. Guam
  83. Guatemala
  84. Guernsey
  85. Guinea
  86. Haiti
  87. Heard Island and McDonald Islands
  88. Holy See (Vatican City State)
  89. Honduras
  90. Hong Kong
  91. Hungary
  92. Iceland
  93. India
  94. Indonesia
  95. Ireland
  96. Isle of Man
  97. Italy
  98. Jamaica
  99. Japan
  100. Jersey
  101. Jordan
  102. Kazakhstan
  103. Kenya
  104. Kiribati
  105. Korea, Republic of
  106. Kuwait
  107. Kyrgyzstan
  108. Latvia
  109. Lebanon
  110. Lesotho
  111. Liberia
  112. Liechtenstein
  113. Lithuania
  114. Luxembourg
  115. Macao
  116. Macedonia
  117. Madagascar
  118. Malawi
  119. Malaysia
  120. Maldives
  121. Mali
  122. Malta
  123. Marshall Islands
  124. Martinique
  125. Mauritania
  126. Mauritius
  127. Mayotte
  128. Mexico
  129. Micronesia, Federated States of
  130. Moldova, Republic of
  131. Monaco
  132. Mongolia
  133. Montenegro
  134. Montserrat
  135. Morocco
  136. Mozambique
  137. Namibia
  138. Nauru
  139. Nepal
  140. Netherlands
  141. New Caledonia
  142. Nicaragua
  143. Niger
  144. Nigeria
  145. Niue
  146. Norfolk Island
  147. Northern Mariana Islands
  148. Norway
  149. Oman
  150. Pakistan
  151. Palau
  152. Palestinian Territory
  153. Paraguay
  154. Peru
  155. Philippines
  156. Pitcairn
  157. Portugal
  158. Puerto Rico
  159. Qatar
  160. Reunion
  161. Romania
  162. Rwanda
  163. Saint Bartelemey
  164. Saint Helena
  165. Saint Kitts and Nevis
  166. Saint Lucia
  167. Saint Martin
  168. Saint Pierre and Miquelon
  169. Saint Vincent and the Grenadines
  170. Samoa
  171. San Marino
  172. Sao Tome and Principe
  173. Saudi Arabia
  174. Senegal
  175. Serbia
  176. Seychelles
  177. Sierra Leone
  178. Singapore
  179. Sint Maarten
  180. Slovakia
  181. Slovenia
  182. Solomon Islands
  183. South Africa
  184. South Georgia and the South Sandwich Islands
  185. Spain
  186. Sudan
  187. Suriname
  188. Svalbard and Jan Mayen
  189. Swaziland
  190. Sweden
  191. Switzerland
  192. Taiwan
  193. Tajikistan
  194. Tanzania, United Republic of
  195. Thailand
  196. Timor-Leste
  197. Togo
  198. Tokelau
  199. Tonga
  200. Turkey
  201. Turkmenistan
  202. Turks and Caicos Islands
  203. Tuvalu
  204. Uganda
  205. United Arab Emirates
  206. United Kingdom
  207. Uruguay
  208. Uzbekistan
  209. Venezuela
  210. Vietnam
  211. Virgin Islands, British
  212. Wallis and Futuna
  213. Western Sahara
  214. Zambia

The broker caters to international users. However, the website does not have a viewing option in other languages, nor does the broker list the other languages it supports.

Is Core Spreads Safe?

Although Core Spreads is relatively new to the world of online trading compared with many of its peers, we believe that the company is taking a proactive approach to establishing a safe and regulated trading environment.

Finsa Europe Ltd., the company that operates Core Spreads, is regulated by the Financial Conduct Authority (FCA), and the Markets in Financial Directive (MiFID) allows the company to operate as a regulated entity throughout the European Union.

The company has made some recent moves to strengthen its regulation, capital base and management team. Between 2009 and 2014, The Trader Management Company Ltd. (the predecessor firm to Finsa Europe Ltd.) was simply a dormant operating company. In 2014, Jasper White, the longtime CEO of sports betting consultancy Gambit Research, bought control of the company. White hired a management team with extensive management experience at other leading trading and betting firms including IG Group, Cantor and William Hill.

White bootstrapped the company to £8 million in revenue with only a £192,000 investment. He then injected an additional £2.8 million in the company and upgraded its FCA license from a “125K” matched principal broker license to a “730K” principal license. The new license, which requires the broker to hold a higher amount of capital, allows it to trade with its clients as a principal.

The company believes the new license places it in a better position to deal with possible regulatory changes to CFD trading by the European Securities and Markets Authority (ESMA).

RegulatorCountries CoveredProtection OfferedAdditional Protection Offered
Financial Conduct Authority (FCA)Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, UK.All client funds are held in segregated client accounts at Barclays Bank in London.
Financial Services Compensation Scheme (FSCS) may cover up to £50,000 if Finsa Europe Ltd. fails.

Core Spreads Trust Factor

Financial Conduct Authority

The UK’s Financial Conduct Agency (FCA) regulates the activities of Core Spreads in the United Kingdom.

The FCA is widely respected as a leader in financial regulation. In addition, the United Kingdom scores highly in Transparency International‘s rankings of countries based on their corruption perceptions index meaning the country is a pillar of anti-corruption. Core Spreads customers in the United Kingdom are protected by the UK based scheme Financial Services Compensation Scheme (FSCS), which was established to protect consumers when authorized financial services firms fail. FSCS pays compensation up to £50k to customers in the United Kingdom if Core Spreads is unable to pay.

Core Spreads’ Financial Services Register reference number is 525164.

Who Runs Core Spreads?

Finsa Europe Ltd., the company that operates Core Spreads, is run by a management team with a combined 100 years of experience in the spread betting and CFD industry.

Key Finsa Europe Ltd. Executives

NamePositionInformation
Stuart Lane
Stuart Lane
Chief Executive OfficerStuart joined Finsa as Chief Operating Officer in 2014 and assumed the role of CEO in 2018. He has a 28-year career in the retail trading sector including senior management positions with IG Group and ETX Capital and other senior roles with Man Financial and City Index.
Andrew Merry
Andrew Merry
Chief Operating Officer and Head of ComplianceAndrew has been Finsa’s COO and Head of Compliance since 2017. He has 20 years of experience in the spread betting and CFD industry including senior roles with William Hill and Cantor Fitzgerald.
Kevin Taylor
Kevin Taylor
Non-Executive DirectorKevin founded Finsa Pty Ltd in 2010 and served as both CEO and Chairman before becoming a director and now non-executive director of Finsa Europe. He has a legal and accounting background. Kevin previously served as COO of City Index Limited, CEO of ETX Capital and founded two financial services startups.

Images sourced from FinsaEurope.com

Core Spreads Trading Products

Core Spreads offers both CFDs and spread betting. Depending on the platform they are using – CoreTrader or MT4 – traders have access to markets in forex, indices (cash, futures and differentials), shares, commodities, bonds and cryptocurrencies.

The CoreTrader platform, which is a spread betting platform, offers the most expansive list of product offerings:

1) FX – Rolling Cash

See all Core Spreads’ FX Rolling Cash products

  • AUDCAD
  • AUDCHF
  • AUDJPY
  • AUDNZD
  • AUDUSD
  • CADCHF
  • CADJPY
  • CHFJPY
  • EURAUD
  • EURCAD
  • EURCHF
  • EURGPB
  • EURJPY
  • EURNZD
  • EURUSD
  • EURZAR
  • GBPAUD
  • GBPCAD
  • GBPCHF
  • GBPJPY
  • GBPNZD
  • GBPUSD
  • GBPZAR
  • NZDCAD
  • NZDCHF
  • NZDJPY
  • NZDUSD
  • USDCAD
  • USDCHF
  • USDJPY
  • USDZAR
  • USDMXN
  • Dollar Index

2) Indices – Rolling Cash

  • Australia 200
  • Euro Stoxx 50
  • France 40
  • Germany 30
  • Hong Kong
  • Japan 225
  • Spain 35
  • UK 100
  • US SPX 500
  • US Tech 100
  • Wall Street 30

3) Index – Futures Market

  • Euro Stoxx 50
  • France 40
  • Germany 30
  • UK 100
  • US SPX 500
  • US Tech 100
  • Wall Street 30

4) Indices – Futures Differential

  • Germany 30 / Euro Stoxx 50
  • Germany 30 / UK 100
  • Germany 30 / France 40
  • UK 100 / Euro Stoxx 50
  • Wall Street 30 / Germany 30
  • Wall Street 30 / UK 100

5) Equities – Cash Market

  • UK Equities
  • EU Equities
  • US Equities

6) Energy – Futures Markets

  • Brent Crude
  • US Light Crude
  • Brent / US Crude Differential

7) Metals – Rolling Cash

  • Gold
  • Silver
  • Aluminum
  • Copper
  • Lead
  • Nickel
  • Zinc
  • Gold / Silver Rolling Spot Differential

8) Bonds – Futures Market

  • BOBL
  • Bund
  • UK Long Gilt

9) Cryptocurrency Rolling Cash

Core Spreads Account Types

Core Spreads offers two types of accounts, but the trading parameters are similar for both. Spread betting customers use the proprietary CoreTrader platform, while CFD traders use the MetaTrader 4 (MT4) platform. Spread bettors have access to equities markets, while CFD traders do not. In addition, spread bettors simply pay a fixed spread on transactions, while CFD traders pay a variable spread and commissions.

Both the CoreTrader and MT4 platforms offer a demo account. Traders receive £10,000 in virtual trading funds with demo accounts.

Core Spreads Account Types

 CoreTraderMT4
ProductSpread BettingCFDs
Spread ProfileFixedVariable
CommissionNone$1.50 per lot (or account currency equivalent)
Loyalty RebatesOn SpreadOn Commission
Minimum Order0.50 £/$/€0.01 lot
Indices1613
FX Pairs3440
Commodities513
UK Equities950 +-
US Equities500 +-
European Equities100 +-
Welcome OfferTick Icon
Online PlatformTick Icon
Desktop PlatformTick Icon
Mobile PlatformTick IconTick Icon
One Click DemoTick Icon
Sign-up DemoTick IconTick Icon
24/5 SupportTick IconTick Icon
Autotrade (EAs)Tick Icon
Customizable ChartsTick IconTick Icon
One Click TradingTick IconTick Icon

Core Spreads Account Types

Core Spreads’ Spreads and Fees

Core Spreads receives its compensation either in the form of the market spread or commissions.

The spreads for trading vary by the particular financial instruments being traded and the platform for trading. Spread betting customers on the CoreTrader platform trade against Core Spreads and receive fixed spreads based on the particular market they are trading (see below). On this platform, Core Spreads receives its compensation in the form of the bid/ask spread. MT4 traders, on the other hand, trade in the interbank market, and the spreads they pay are based on prevailing market rates. In the case of MT4 trades, Core Spreads receives its compensation in the form of commissions. MT4 traders pay $1.50 per lot (or account currency equivalent) for trades on this platform.

The following are the spreads on some of the more popular instruments on the CoreTrader platform:

Forex

See all Core Spreads’ Forex spreads

MarketSpread
EUR/USD0.7
USD/JPY0.7
AUD/USD0.8
EUR/GBP0.8
GBP/USD0.9 to 1.9 depending on time of day
EUR/JPY1.0 to 3.0 depending on time of day
USD/CHF1.4 to 2.4 depending on time of day
EUR/CHF2.0 to 3.0 depending on time of day
USD/CAD2.0 to 3.0 depending on time of day
AUD/CHF3.0 to 6.0 depending on time of day

Indices

See all Core Spreads’ Indices spreads

MarketSpread (Rolling Cash)Spread (Futures)
Euro Stoxx 5013
France 400.84
Germany 301 to 2 depending on time of day4 points during day time hours
UK 1000.8 during day time hours4 points during day time hours
US SPX 50036
US Tech 10013

Equities – Cash Market

See all Core Spreads’ Equities spreads

MarketSpread
UK Equities
  • UK100  0.1% (5 bps per side)
  • UK250  0.2% (10 bps per side)
  • UK350  0.3% (15 bps per side)
  • EU Equities0.2% (0.1% or 10 bps per side)
    US Equities2 cents per side

    Energy – Futures Market

    See all Core Spreads’ Energy spreads

    MarketSpread
    Brent Crude3
    US Light Crude3
    Brent / US Crude Differential3

    Metals – Rolling Cash

    See all Core Spreads’ Metals spreads

    MarketSpread
    Gold4
    Silver3
    Copper10

    Bond – Futures Market

    See all Core Spreads’ Bond spreads

    MarketSpread
    BOBL0.50%
    Bund0.50%
    UK Long Gilt0.50%

    Cryptocurrencies

    See all Core Spreads’ Crytocurrencies spreads

    MarketSpread
    Bitcoin70
    Ether8
    Ripple1

    Account Requirements

    When you click the red Open Live Account” button on the Core Spreads’ website, the broker takes you to the sign-up page.

    To begin the sign-up process, you simply enter your name, email, phone number and a username and password.

    The system then takes you to the next page where you enter your address, your UK National Insurance number as well as basic information about your employment experience and financial status. You also choose the platform you will be using – CoreTrader or MT4.

    Core Spreads then takes you to two additional pages where they ask questions to assess your trading experience and knowledge. The broker then reviews your application, which usually takes less than five minutes.

    To pass the Core Spreads’ identity verification, you will need to upload both an ID and proof of address. Before you are able to deposit funds you must complete the broker’s ID verification process:

    DocumentCommentary
    Identification

    Acceptable forms of ID include a colored copy of one of the following:
  • Valid Passport
  • National ID
  • Driver’s License

  • Customers must send copies of the front and back of ID card.  All documents must have at least three months left to expiry.
    ID card must present the following details:
  • Your full name
  • A unique ID number
  • Your birthdate
  • Your place of birth
  • A visible photo
  • Your signature
  • Your nationality
  • Proof of Address

    Acceptable forms of ID include the following:
  • Utility bill (this cannot be a mobile phone bill or a bill printed from the internet)
  • Council tax demand
  • Other documentary proof of address issued by a public body
  • Bank or credit card statement (not printed from the internet)
  • All documents must be dated within the last three months.

    Traders can make deposits and withdrawals by major credit cards such as Visa, MasterCard and American Express or by wire transfer. Core Spreads does not charge deposit or withdrawal fees and has no minimum deposit amount. Core Spreads offers maximum leverage to traders of 1:200.

    Welcoming Bonus

    Core Spreads traders are eligible to receive a welcoming bonus after making deposits into their accounts. The bonus is 50% of the total spread traded in your first month, which is rebated back into your trading account. The welcome bonus is capped at £2,500.

    Margin Requirements

    Each CFD also has specific Core Spreads margin requirements that traders must maintain. Traders should consult the Market Information section of the Core Spreads website for the specific margin requirements for each instrument.

    Traders who fall below the Core Spreads margin requirements risk receiving a margin call and having their position closed prematurely.

    Core Spreads CoreTrader Platform Review

    The CoreTrader proprietary spread betting platform allows traders to access different markets and asset classes and execute trades quickly. The main screen layout has many of the familiar tools you find on other CFD platforms:

    On the left-hand side is a menu of different trading instruments organized by asset class.

    When you click on a particular asset class, the instruments in that group populate the middle window.

    Core Spreads Asset Classes

    From here you can see the daily change and percentage change for each instrument. You can set alerts from this panel and pull up charts for each instrument. You can also pull up trading information for each instrument and add it to a watch list.

    The charting icon in the main panel pulls up a chart with an impressive array of technical indicators and studies:

    Core Spreads Technical Indicators

    Core Spreads conveniently allows you to execute an order via the chart window. This will appeal to technically-oriented traders.

    The bottom of the main screen has the standard position window where you can access transactions including open positions, open orders, activity history and an account summary.

    Core Spreads Bottom Navigation

    One significant weakness to this platform is the dearth of news and fundamental analysis. Combined with the lack of tools, such as economic calendars, expansive news feeds and detailed news analyses, this comes across as a major flaw of this platform. Core Spreads does offer commentary by BBC financial pundit David Buik, but the fundamental offerings of this broker seem more like an afterthought.

    Core Spreads David Buik Commentary

    Core Spreads Demo Account

    Traders can open demo accounts with Core Spreads for both the CoreTrader and MT4 platforms. Demo accounts are loaded with £10,000 in virtual trading funds.

    The demo accounts looks like the live accounts, and traders get the same functionality.

    Core Spreads Education Resources

    Core Spreads doesn’t offer any educational materials on its website. For traders new to CFD trading and spread betting, this may be a disadvantage. However, there are plenty of free online resources on markets and trading topics.

    Core Spreads Sign-Up Bonuses and Promotions

    Core Spreads offers two types of sign-up bonuses/promotions

    Welcome Bonus: Core Spreads offers half-price trading to new customers for the first month after they sign up. In order to claim your bonus, you need to email or call the Core Spreads customer support team after a month. Core Spreads then puts 50% of the total spread traded in your first month back into your trading account. The welcome bonus is capped at £2,500. Traders can choose to trade with the bonus or withdraw it. There are terms and conditions that apply to this offer.

    Loyalty Bonus: Core Spreads has a Loyalty Scheme that rewards Core Spreads traders who help the company grow. You earn Core Points, and at the end of the month your total determines your spread or commission rebate percentage in the following month. You earn 1 Core Point for every £1 in spread traded. Core Spreads has a tiered rebate ladder that shows the discount you receive based on your Core Points. Traders should consult the site or customer service for more details on how this scheme works including the rebate ladder that shows the tiered bonus structure.

    Lawrence Pines is a Princeton University graduate with more than 25 years of experience as an equity and foreign exchange options trader for multinational banks and proprietary trading groups. Mr. Pines has traded on the NYSE, CBOE and Pacific Stock Exchange. In 2011, Mr. Pines started his own consulting firm through which he advises law firms and investment professionals on issues related to trading, and derivatives. Lawrence has served as an expert witness in a number of high profile trials in US Federal and international courts.