Founded in 2014, Core Spreads are UK-based industry leaders, offering tight, fixed spreads across 1000s of markets on their exclusive CoreTrader 2 Platform. With Core Spreads, you have the choice of two dynamic platforms, through which you can trade via spread bet or CFDs. They offer a comprehensive range of markets, including Forex, Commodities, Shares and Indices.
73% of retail investors lose money when trading CFDs with this provider*. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. * For the 3 months preceding July 2019
CoreSpreads ticks all the right boxes for new spread bettors. It offers the tightest FTSE spreads available, keeping your costs to a minimum. Plus, all the profits you make from financial spread betting are tax-free. At CoreSpreads, you can get started from as little as £0.50 per point, with an initial deposit requirement from as little as £100.
What’s their pitch?
Core Spreads know they can’t offer news and market commentary to rival the likes of The Financial Times or Bloomberg, instead it invests in the core features every trader cares about:
- Choice of platforms: Spread bet or trade CFDs with a choice of two industry leading platforms. CoreTrader 2 is a state-of-the-art spread betting platform offering tight, fixed spreads and fast execution.And Core MT4 combines the broker’s industry leading spreads with the most popular CFD platform around.
- Tight spreads: Core Spreads offers some of the tightest spreads around so that, everything else being equal, you can trade for less.
- Thousands of markets: You can trade index, fx, commodity and individual equities. Can’t see your favourite market? Get in touch with our friendly customer service team.
- Clear, simple charges: Transparency is central to the way Core Spreads does business and the broker has done away with all deposit, account opening and inactivity charges. Commission on CFD trades is fixed at £1/€1.30/$1.50 per lot.
- Great customer service: Core Spreads want your trading experience to be as hassle free as possible. If you have any issues, the customer support team is dedicated to treating clients fairly.
- Secure funds: Client funds are held in segregated bank accounts and are covered by the Financial Services Compensation Scheme.
The Facts at a Glance -:
- 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.
- Core UK MT4 platform is all the same except: no ‘Signals’ for charting, no Guaranteed stops, no Shares offered, no index futures offered, only FX/metals markets attract commission charges, all else is in the spread
- Competitively tight spreads – our Rolling Daily FTSE, Wall St, DAX & EUR/USD are just 1 tick, GBP/USD 2 ticks and Brent Crude 4 ticks during market hours.*
- Spreads on Core Trader 2 are fixed, on MT 4 they are variable. Spread bettors have access to equities markets, while CFD traders do not.
- Both the CoreTrader and MT4 platforms offer a demo account. Traders receive £10,000 in virtual trading funds with demo accounts.
- CoreSpreads UK Web Platform Currencies denominated: GBP/USD/EUR/DKK/SEK. MT4 Currencies supported: GBP/USD/EUR.
The spreads for trading vary by the particular financial instruments being traded and the platform for trading. Spread betting customers on the CoreTrader 2 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, with a minimum order of 0.01 per lot (or account currency equivalent) for trades on this platform.
Core Trader 2 minimum stake is £0.50 per point, £0.10 for Crypto and US shares. On Mt4 FX is 10p (10 cents) and indices is £1 ($1)
Core Spreads: Key Spreads
EUR/GBP – 0.6pts at all times
EUR/USD – 0.6pts at all times
GBP/USD – from 0.8pts
UK 100 (Rolling) – from 0.8pts
Wall Street 30 (Rolling) – from 1pt
Brent Crude – 3pts at all times
Gold – 3pts at all times
Silver – 2.4pts at all times
Bitcoin – 40pts at all times
CoreSpreads has multiple markets – you can trade currencies, commodities, FX and bonds in rising or falling markets. The company also offers many UK, European, US as well as other global equities.
Trading apps for the iPhone, iPad and Android devices are also available. Allow yourself the freedom to trade away from your computer with all the flexibility of the online platform with their trading apps for the iPhone and Android. In fact the mobile product has proved to be one of CoreSpreads’ most popular enhancements permitting clients to monitor the markets (and your positions) from wherever they happen to be. The new charting package has also proved to be very popular.
Anything for newbies?
It is free to open an account, you can choose demo or live. You get a no hassle demo account. No calls from the Core Spreads sales team. You will get left alone to practice with the 10,000 practice pounds.
Verdict: I also have a CoreSpreads account and I have to say that I find it the cleanest and easiest interface for someone new to spread betting. I’d say CoreSpreads is a “safe” environment for spread betting. Stops are always on there and it is easy to use.