Core Spreads
Total reviews 1
No complaints yet
4.0
A British broker that offers low transaction fees and additional earning options for experienced traders.
Forex broker
Official website
Social network
Date of foundation
1970
Head Office
9th Floor, 30 Crown Place, London, EC2A 4ES
Company owner
Finsa Europe Limited
Types of support
[email protected]ChatFeedback form on the site
Phone Support
+44-203-475-48-30 international number
Languages
English
Terminals
MetaTrader 4, WebTrader, CoreTrader2 authoring platform
Min. first deposit
From 1 USD
Brokerage commission
$1.5 per lot
Lot size
From 0.01
Leverage
Until 1:200Set on an individual basis
Spreads
From 0.6 points
Free demo account
Adjustable
Yes
Regulators
FSA№ 525164
Types of accounts
Transaction volume
from 0.01 lot
Methods of replenishment
Wire transfer, Bank card (Visa/MC)
Withdrawal methods
Wire transfer, Bank card (Visa/MC)
Number of assets
100+
Types of assets
Currency pairs30+ of the most popular
Precious metalsgold and silver
Cryptocurrency
Products
Stocks
Indexes
Account Currencies
EUR, USD, GBP
Mobile apps
There are mobile apps (Android)
Weekend trading
No
Tournaments/competitions
No
Trader training
Online guide, individual consultations, blog
Contract Difference Commission
Yes
Swaps
No
PAMM trading
No
Analytics
Market analysis, dividend forecasts, economic calendar, exchange rates
Margin trading
Yes
Affiliate Program
RegistrationAdditional earnings up to $700 on the Introducing Broker program
Advantages
Reliable regulator
Small minimum deposit
Commission on transactions 1.5% per lot
Disadvantages
Only for experienced traders (at the stage of registration there is a test of knowledge)
Fuzzy trading conditions
Few currency pairs and deposit/withdrawal methods
Site in English only
Company requisites
Date of update
April 20, 2023
Overall assessment
5/10
    Address
    9th Floor, 30 Crown Place, London, EC2A 4ES

    Core Spreads is this a scam? Review and Reviews

    Published: 10 December 2019 Updated: 20 April 2023


    Core Spreads – British Forex brokerThe company is oriented to the European market (the site exists only in the English version) and is licensed by the FSA. The project management company, Finsa Europe Limited, was opened in 2011, the broker appeared 3 years after its inception. Is the service provider honest with traders or is Core Spreads a scam? How profitable is it to invest in this product? Let’s try to find out.

     

    Terms of trading with Core Spreads

    The main focus of the broker is on contracts – Forex Trading currency pairs is a secondary activity.

    Core Spreads - is it a scam? Reviews

    The chart of accounts is built with platforms in mind. There are 2 types of products:

    • Spread betting on the CoreTrader terminal – forex, indices, commodities, stocks. No commission, the company earns only on spreads.
    • CFD – only indices, commodities and forex. Provides the possibility of automatic trading, but the user pays a commission for each order lot – $1.5.

    Cor Spread Platform

    More detailed information becomes available after registration. Fill in the basic form (first name, last name, phone number, email, country of residence, login and password).

    Provide personal information (date of birth, address with zip code, nationality, passport number and series, citizenship, occupation, status/position, and even income).

    Core Spreads filling out the questionnaire

    Here you can also set the account currency: American dollar, British pound or euro. And the terminal: CoreTrader2 or MetaTrader 4.

    Cor Spread Currency choice at registration

    Now you need to tell about your trading experience: whether you had trading experience, how long you have been a trader/investor (if any), how often you made transactions, whether you have a strategy, experience of trading in a quiet/closed/volatile market. All these questions allow the company to understand what terms to provide for you. If you do not have sufficient skills you will be refused registration. And if you indicate good experience, you will be required to take a market knowledge test (e.g. note what counts as an overnight fee).

    In conclusion, you accept the terms of all policies and go to your personal cabinet, where you can open a trading or demo (free training) account. You will first need to verify your profile: provide proof of identity (scan of a document), address (scan of a certificate of public authority) and the card/wallet you own (screenshot of a statement from your personal account). The list comes to the mail, which you specified when registering. You need to send everything to the support team (also by letter to the email address, not through the site corespreads.com).

    Until then, you can’t even make a deposit. By the way, the minimum deposit at Core Spreads is only $1. Leverage is provided, but it is set individually: judging by the reviews of users, usually 1:200. Spreads are quite narrow. Thus, for the EUR/USD and EUR/GBP pair they start at 0.6 pips. From the training, in addition to the training account, an electronic book, reference materials (market timetable) and individual counseling are available (Forex Trading Training). Support is provided via email, phone, online chat and any of the broker’s Facebook and Twitter communities.

    corespreads.com contacts

     

    Platform corespreads.com

    Core Spreads uses two main platforms:

    • Meta Trader 4 – the most popular among traders terminals, distinguished by a good set of tools and user-friendly interface. Presented in several formats – for downloading to PC (installation), for mobile and web-version.
    • CoreTrader2 is a proprietary software. It is specifically tailored for spread betting, available assets include currency pairs, indices, commodities and stocks (British, American, European).

    Core Spreads platforms

    Security is ensured by SSL encryption and multi-level authentication of payments. Client funds are stored in segregated accounts, separate from company accounts.

    Broker quotes

    Forex direction in Core Spreads is represented by 30+ currency pairs, among which there are the most popular ones: EUR/USD, USD/JPY and EUR/ GBP. Since trading is conducted in the NDD format, the broker cannot influence the quotes, however, you cannot be sure that they are accurate. List of key liquidity providers on the site corespreads.com is not voiced.

     

    Cor Spread Demo Account

    The demo account is opened directly through the account and is available on both CoreTrader2 and MetaTrader 4 platforms. In contrast to the trading account, there are 5 currencies: Danish/Swedish kroner, dollar, euro and pound sterling.

    Cor Spread Demo Account

    In the terminal that opens, you can make bets and improve your trading skills without any financial investment. All settings are available to you, as in the real software, but it is worth remembering that the margin in the demo version is always higher, because the company seeks to interest you, to make you invest real currency. The company doesn’t set any time limits for using the demo account.

     

    Mobile application

    Core Spreads has its own mobile app, CSF (Core Spreads Financial). It is designed for trading on devices with low resolution and/or screen diagonal. It supports only Android from 4.0 and newer. Basic functionality:

    • Viewing quotes in real time.
    • The whole set of trading orders, including pending orders, and execution types.
    • Statistics and history of operations.

    Since the software was released to the public in September 2019, there are very few downloads (just over 100) and no user ratings.

     

    Bonuses at Core Spreads

    No information about bonuses appears at registration. The only reward system we found at Core Spreads is the affiliate program. You are offered to become an introducing broker of the company and earn up to $700 monthly on CPA. You are provided with marketing support and your own client base, as well as training and all the necessary tools. Applications to join are sent to the designated email address of the operator – [email protected].

    corespreads.com affiliate program

     

    Deposit and withdrawal

    Deposit and withdrawal of currency on Core Spreads are made in three ways: by bank card (VISA, MasterCard) and by transfer. Normally, the broker does not charge commission for these transactions (although it does not cover third-party fees), but in the case of a quick withdrawal (when you have deposited and withdraw again to comply with the requirement that the deposit and withdrawal method are identical), a commission of 15% is deducted from the amount. If you request a transfer not to the card you deposited with, but to a card associated with it, a fee of 25 GBP will be charged.

    As we have already written in the section on trading conditions, the lower limit of the deposit is not defined. But there is an upper limit: you can deposit up to 35,000 euros per day and the equivalent of this amount in other currencies. Withdrawal is carried out only to a verified payment resource – the one from which you have already made several deposits, confirming it with documents. In addition, you will have to verify your identity by repeating the procedure of sending passport scans, receipts, etc. Verification takes up to 5 business days. Then funds are sent to your details within 2-3 business days.

     

    Complaints about Cor Spread

    There are all kinds of complaints about Core Spreads: technical failures in the work of the author’s platform (funds are deducted, but the transaction is not displayed, settings disappear, etc.), incompetence and rudeness of employees, problems with withdrawal. Some users openly accuse the broker of fraud.

    Core Spreads reviews

    However, there are positive reviews too. Clients praise the speed of order execution and the simplicity of the service (no unnecessary add-ons).

    Cor Spread reviews

    If there are any reviews about Core Spreads broker, we’ll be sure to post the information on social media. Sign up so you don’t miss anything!

    Please keep yourself informed about news and complaints. We copy the most valuable information to social networks, so please sign up!

    Broker regulator

    Finsa Europe Limited, the owner of Core Spreads, has obtained license number 525164 from the UK FSA, one of the most respected jurisdictions. There is a confirmation of this in the regulator’s registry. True, with a note that fraudsters have recently begun to appear, claiming to be related to the company (the list of domains is also available in the registry), but corespreads.com among them is not.

    Check the license of Finsa Europe Limited on the FSA website

    Corespreads.com User Agreement

    The client (user) agreement defines the rights and obligations of the service owner and its users. On the Core Spreads site it is presented only in the English version, so not all the terms of the document can be understood due to language differences. In this review we will analyze the main provisions of the document so that you can get an idea of it. So, in clause 4.1, the broker notes that he only performs intermediary functions and does not decide whether this or that deal is profitable for you, and does not guarantee sufficient profitability.

    corespreads.com user agreement

    At any time you can have your access to the market suspended. This is done with at least 1 week’s notice prior to the event. You, in turn, must reimburse all related expenses of the operator (clause 4.4).

    Core Spreads Market Access Suspension

    Verification of the profile also takes place when it is required by the company (not only during registration and consideration of applications for payment). In this case you need to provide all necessary documentation (clause 5.6).

    Cor Spread Verification

    Rates and commissions presented on the site are for informational purposes only and are subject to change at the discretion of the service owners (clause 7.1).

    corespreads.com rates and commissions

    Restrictions (on a case-by-case basis) are also placed on the number of debit/debitcredit cardsused for replenishment and withdrawal (10.14).

    Core Spreads limits on the number of debit cards

    Core Spreads is not liable for any losses incurred by you as a result of the transaction, unless they were the result of the operator’s professional negligence or deliberate deception on his part (clause 14.2).

    Cor Spread Broker Responsibility

     

    Core Spreads – is it a scam?

    Broker Core Spreads is clearly aimed at the European audience, so users. The emphasis is put on experienced traders (otherwise there would be no test questions in the registration form). However, the reviews show that the platform does not reach the level of a high-margin platform at the moment. In addition, a number of comments contain accusations of fraud (refusal of payments or technical failures, due to which the statistics of “winning” deals are lost). Taken together, all this leads us to the conclusion: Core Spreads is not a fraud, but it has overstated demands to the client. Despite the seeming convenience and simplicity, the broker, in our opinion, does not reach the bar, which it set in relation to others.

     

    Conclusion

    Core Spreads is still at the level of strong “middles”. The regulator and the terms look attractive enough: not many players on the market can offer the minimum deposit of $1, and the commission of 1.5% does not look daunting. However, much of the information is hidden from the simple (unauthorized) visitor, and the number of assets (and primarily currency pairs) is not the greatest.

    In addition to the above, the broker’s clients note technical problems with the platforms, frequent slippage and not always competent work of the support team. Professional traders, it seems to us, this product is not suitable, and beginners simply will not be able to register in the system. We hope that in the near future Core Spread will be able to build a clear positioning taking into account its own capabilities.

    Trading instruments and assets
    80%
    Withdrawal speed
    80%
    Brokerage commission
    80%
    Technical support
    80%
    4.0

    Reviews

      Core Spreads reviews

      1
      Add review
      • In ascending order of rating
      • In descending order of rating
      • New ones first
      • First the old ones
      • Popular ones first
    • 4
      Rate your review 0
      0
      Trading instruments and assets
      80%
      Withdrawal speed
      80%
      Brokerage commission
      80%
      Technical support
      80%
      Core Spreads is one of the few...

      Core Spreads is one of the few brokers that takes the registration of new members very seriously and sets high requirements with great the probability of rejection. In our review, in the section "Terms of trading with Core Spreads", we explained in detail what information about yourself you… Read more

    Stock brokers
    CompanyPlace
    Finam
    1/21
    Exante
    3/21
    Cryptocurrency exchanges
    CompanyPlace
    ByBit
    1/334
    Beribit
    2/334
    Rating of reliable brokers
    CompanyPlace
    Quotex
    3/42
    Activity
    0complaints
    • New0
    • Resolved0
    • Not resolved0
    New companies on the site
    Site Map