Core Spreads: A Broker With Tight And Fixed Spreads

July 19, 2020
Brokers
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Core Spread is a broker with offices in Australia and the UK that is authorized and regulated by the Australian Securities and Investments Commission and the Financial Conduct Authority (FCA). Core Spreads offers Forex, CFDs, and Spread Betting, which are over-the-counter (OTC) derivatives, on a variety of financial assets classes including indices, Forex, shares, cryptocurrencies and commodities.

If you are looking for a broker that offers you these features and the possibility of saving on fees, Core Spreads may be a good alternative.

We analyzed hundreds of data points relevant to the costs, benefits and features of trading with Core Spreads and scored our findings on a 10-point scale across 10 distinct categories.
Fees 9
Signup Process 7
Minimum Deposit 10
Ease of Use 7
Deposit & Withdrawal Options 8
Customer Support 9
Asset Classes 8
Referral Program 0
Demo Account & Educational Resources 7
Safety & Regulation 10
Total 75

What is Core Spreads?

Core Spreads is an Australian broker that is also registered in the UK. Core Spreads a trading name of Finsa Europe Limited is a company registered in the United Kingdom with company number 07073413. Its registered office is 9th Floor, 30 Crown Place, London, EC2A 4ES and is authorized and regulated by the Financial Conduct Authority (FCA) registration number 525164.

Core Spreads Australia is a trading name of Finsa Pty Limited, a company registered in Australia with company number 158065635, whose registered office is Level 36, Governor Phillip Tower, 1 Farrer Place, Sydney, NSW 2000, Australia and is authorized and regulated by the Australian Securities and Investments Commission (ASIC) registration number 422661. It is important that you consider that US residents cannot open accounts in Core Spreads.

Pros & Cons

Pros

  • There are no deposit or withdrawal fees.
  • No fees for inactivity.
  • It is possible to open a demo account.
  • There is a low minimum deposit (only $1 USD).

Cons

  • The supply of financial instruments is limited.
  • Long waiting time to make withdrawals.
  • Educational material is limited.
  • Website and customer service are only available in English.
  • There is no news portal for analysis.

Account Types

There are two types of real money accounts in Core Spreads. Both accounts have the same characteristics. Basically, they are standard investment accounts with which you can trade with any of the financial instruments that the broker offers.

The only difference between both accounts is the investment platform you choose:

  • If you want to trade Spread Betting you must associate the CoreTrader platform with your standard account.
  • If you want to trade CFDs you must associate MT4  platform with your standard account.
Here’s a breakdown of our 10 scoring categories, each scored out of 10 for a total of 100 points.

#1 Core Spreads Fees

Core Spreads follows the current trend of fees from brokers around the world. That is, there are no withdrawal or deposit fees. Also, you won’t have to pay any inactivity fees either.

However, you will have to pay a minimum commission of $1.5 USD for trading with this broker.

When trading with Core Spreads, you will notice that the spreads are really tight and very competitive. In fact, you will find spreads from 0.1 pips onwards.

PLATFORMSCORETRADERCOREMT4
ProductSpread BettingCFDs
Spread profileFixedVariable
CommissionNone$1.50 per lot (or account currency equivalent)
Loyalty RebatesNoneNone
Minimum order0.50 £/$/€0.01 lot

The broker loses points because you must pay commissions for any type of account. However, the commission is low and thus Core Spreads obtained a 9 out of 10.

Core Spreads Fees Score: 9/10

#2 Signup Process

The account opening process is completely digital and very quick to do. You should have the following documents on hand so you can streamline the process:

Proof Of Identity

A colour scanned copy of:

  • Your passport
  • Driver’s license
  • National identification

Proof of address

  • A utility bill
  • Bank statement of the last three months showing your address
  • Another documentary proof of address issued by a public institution.
Signup Process

Opening an account with the broker is fast. However, to operate on the Core Spreads platform, you must wait up to 2 days for the verification process because you will have to send all your personal information by email, which is not ideal, especially considering that some other brokers offer same-day verification.

Core Spreads Signup Process Score: 7/10

#3 Minimum Initial Deposit

The minimum deposit in Core Spreads is $1 USD. It is simply a protocol to follow.

You only have to deposit one dollar to be able to operate in the broker. This aspect is very favourable because you can start trading with any amount without having to put a lot of funds upfront.

Below we show you the minimum initial deposit required by other brokers:

Broker                       Minimum Initial Deposit
TD Ameritrade$0 USD
Capital.com$20 USD
eToro$50 USD
Forex.com$100 USD

Core Spreads Minimum Initial Deposit Score: 10/10

#4 Core Spreads Ease Of Use

The company offers two types of platforms so you can choose the one that best suits your investment style. You can choose between the following investment platforms:

CoreTrader

It is a wonderfully simple and robust platform that offers tight and competitive fixed spreads. The platform offers several types of technical indicators. However, customization is not possible with this platform.

CoreTrader
CoreTrader

Core MT4

The second Core Spreads trading platform is Metatrader 4 (MT4). This platform is friendly and intuitive despite its advanced features. Also, MT4 is the most widely used tool by traders in the world. You can find a large number of charting options, indicators, and plotting tools.

These customization possibilities allow you to be much more efficient when analyzing and making the best investment decisions.

Core Spreads: Core Mt4

Core Spreads App

The broker’s mobile app uses the same analysis tools as the desktop version. You will see that it offers very good features for all types of investors, from beginners to experts. Also, the app is very well rated. It has a rating of 4.6/5 in the Apple Store and 4.6/5 in the Google Play Store.

Core Spreads App

The investment platforms that the broker offers you are really incredible and popular. However, you will have to study for a couple of weeks so that you can exploit it to the fullest.

The good news is that once you master these investment platforms, you will be much more likely to make money with your strategies and analysis because they are really powerful.

Core Spreads Ease of Use Score: 7/10

#5 Deposit & Withdrawal Options

When you fund your account or withdraw money Core Spreads offers you different alternatives:

  • Bank transfers
  • Credit card
  • e-Wallets

Core Spreads’ goal is to make all deposits and withdrawals in one business day. But, it is possible that this process may take up a little bit longer. Also, the broker does not agree to transfer funds from other brokerage accounts or check deposits. Because of this, the broker loses points in this category

Core Spreads Deposit & Withdrawal Options Score: 8/10

#6 Customer Support

Customer service is immediate from Monday to Friday, 24 hours a day. You can communicate with customer service in English only through the following alternatives:

  • Live chat: on the Website
  • Email: [email protected] or  [email protected]
  • Phone: +44 (0) 203 4754830 / +61 (0) 281 884217

Imagine that you are trading on a weekend and there is an error on the platform. Unfortunately, you won’t be able to solve it until Monday because the broker only offers a 24/5 service. As a consequence, the broker loses one point in our score.

Core Spreads Customer Support Score: 9/10

#7 Core Spreads Asset Classes

Asset Classes

Stocks

The broker offers a series of investment alternatives. You can choose between approximately 1,500 different types of shares such as Apple, Google, Facebook, Twitter, Netflix. You can also operate in the American, German, Japanese and UK markets.

Currency Pairs

With Core Spreads you will have over 30 of the most popular currency pairs available to trade. For example, you can buy AUD / CAD, EUR / GBP, EUR / USD, etc.

Gold

You can trade precious metals like gold and silver with this broker.

ETFs

You can trade this type of financial instruments through CFDs.

Crypto

You can trade cryptocurrencies through CFDs.

It is true that Core Spreads offers a great variety of financial instruments. But, there are limitations when it comes to diversifying internationally because there are few financial instruments from other international markets. In addition, the broker does not offer the possibility of trading fixed income instruments. In this way, the broker loses two points in this section.

Take into account that if you are looking for a broker that is better qualified in this category we can recommend our articles “TD Ameritrade Review: An Investment Platform With Legacy” and “Interactive Brokers: Experience And Reliability In A Single Broker“. There you will see that these brokers are much more complete in this category.

Core Spreads Asset Classes Score: 8/10

#8 Referral Program

At this time, Core Spreads does not offer a referral program. For this reason, it is impossible to assign points to the broker in this category.

Core Spreads Referral Program Score: 0/10

#9 Demo Account & Educational Resources

You can open a demo account in Core Spreads. The demo account allows you to practice investment strategies exactly as you would in the real market. You will have access to the same statistics, indices and other market information as if you were really trading. That way, you will know for sure when you have hit a home run or when you strikeout. It also lets you get to know the platform to make trading more natural once you start for real.

Please note that the demo account does not expire and retains all of your practice trading history so you can review your activity. But, the account is limited to 500 simultaneous open trades.

Educational Resources

In Core Spreads you will find elements of educational resources on the blog. Although the material is not extensive or varied, there you will find videos, tutorials, and articles that can help you complement your learning process in the financial market.

Core Spreads Demo Account & Educational Resources Score: 7/10

#10 Safety & Regulation

Core Spreads is an Australian broker authorized and regulated by the Australian Securities and Investments Commission and the Financial Conduct Authority if the UK. Also, when you deposit funds into your Core Spreads account, you are protected in several ways:

  • Your money is held in a segregated customer bank account at Westpac Bank, Sydney.
  • Core Spreads never uses its funds for its business activities.
  • Also, when you become a Core Spreads client, you are covered by the UK’s Financial Services Compensation Scheme (FSCS), which guarantees a return of your funds up to £ 85,000.

The broker offers you great security when you invest your money because it is a broker that has important regulations. In addition, the broker offers a compensation scheme that conveys a lot of credibility.

Core Spreads Safety & Regulation Score: 10/10

While researching 100+ of the world’s top brokers, we’ve noticed what works and what doesn’t from the customer’s point of view. That’s why our final test for any broker is to compare it to Capital.com, which scores 91/100 points across the 10 categories mentioned in this review.

Core Spreads vs. Capital.com

One of the most relevant aspects when creating the best and most profitable investment ideas is that you can have a platform that can add value to your strategies. Also, for a broker to be an ally, it should give you confidence so that you can invest your money without fear, and at the same time, offer you the lowest rates on the market.Taking into account the most relevant aspects for an investor, we prefer Capital.com over Core Spreads for the following reasons:

Quick And Easy Account Opening

If you want to trade now without having to wait for days struggling to verify your trading account, we recommend you visit Capital.com. You can open your account and trade in less than 20 minutes.

It’s Easier To Use

While it is true that Core Spreads’ investment platform is good, we think that your best option is Capital.com. It has a very stable platform, is easy to use and is intuitive. Furthermore, it has an interface that follows the best data processing standards for traders.

It Offers You International Availability

It is true that Core Spreads is available in several countries. However, Capital.com is available in more than 50 countries and adds more countries regularly:

Argentina Denmark Ireland Monaco Slovakia
 Armenia Estonia Italy Netherlands Slovenia
 Austria Finland Kuwait Norway Spain
 Azerbaijan Georgia Kyrgyz Republic Oman Sweden
 Bahrain Germany Latvia Pakistan Switzerland
 Bulgaria Gibraltar Liechtenstein Philippines Tajikistan
 Cambodia Greece Lithuania Poland Thailand
 Chile Hungary Luxembourg Portugal Turkmenistan
 Croatia Iceland Malaysia Qatar United Arab Emirates
 Cyprus India Mali Romania United Kingdom
 Czech Republic Indonesia Mexico Sierra Leone Uzbekistan. 

It Provides More Educational Resources

At Capital.com you have more tools and options so you can study the market and create the best investment plans. For example, you will be able to access:

  • Free financial webinars.
  • Educational courses for traders.
  • Extensive market glossary.
  • Comprehensive CFD trading guide.
  • Cryptocurrency trading tutorial.
  • Investmate, Capital.com’s investor education app.

Capital.com Has Referral Program

Core Spreads does not have a Referral Program that allows you to earn bonuses so that you can gradually increase your capital. In contrast, Capital.com offers you a Referral Program that will allow you to earn $25 USD for each person you invite to invest in this wonderful investment platform.

Core Spreads In Summary

  • Core Spreads is a broker with offices in Australia and the UK that is authorized and regulated by the Australian Securities and Investments Commission and Financial Conduct Authority (FCA).
  • The broker offers Forex, CFDs and Spread Betting.
  • There are two types of real money accounts in Core Spreads. The only difference between both accounts is the investment platform you choose.
  • Broker follows the current trend of fees from brokers around the world. That is, there are no withdrawal or deposit fees.
  • The account opening process is completely digital and very quick to do.
  • The minimum deposit in Core Spreads is $1 USD. It is simply a protocol to follow.
  • The company offers two types of platforms so you can choose the one that best suits your investment style. You can choose between Core MT4 and CoreTrader.
  • Customer service is immediate from Monday to Friday, 24 hours a day.
  • You will also be able to test the Broker platform because you will have the possibility to create a demo account.

If you are looking for a regulated broker, with good fees and no minimum deposit restrictions, you can find an ally in Core Spreads

We think that Core Spreads could do better in several aspects. For example, it could improve the asset class, customer support, referral program and educational resources. In all these points Capital.com is superior. If you are a beginner or an experienced trader you will see that this wonderful broker is an ally that will allow you to fully exploit your capital gains.

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