Is Core Spreads a Scam

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Core Spreads Review

Core Spreads

Leverage: 1:30

Regulation: FCA

Min. Deposit: 0 US$

HQ: UK

Platforms: CoreTrader2, MT4

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Found in: 2020

Core Spreads Licenses:

Finsa Europe Limited – authorized by FCA (UK) registration no. 525164

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What is Core Spreads?

The Core Spreads as a brokerage company has been established in the UK with the goal to offer the best of possibilities for active traders.

The strategy defined by Core Spreads is built to bring the best value in the industry while minimizing costs by reducing not the “first need” extensions. Their developed proprietary platform brings an honest low pricing as a standard to all clients.

Getting closer to the offering itself, Core Spreads combined years of experience in the market while offering spread betting and CFD trading through the essentials done by tight and fixed spreads, that helping to maximize returns. The market offerings covers the most important instruments bringing availability to trade 30 popular currency pairs at Forex (including Spread Betting for UK residents), vast of Shares, Indices, Commodities and Cryptocurrencies.

Another core side of the company is their service team that is dedicated to give a personal service traders deserve, what we like is that Core Spreads continuously receives a positive feedback from their traders, as well got a valuable award: Best Value Broker 2020 | UK Forex Awards 2020

At the first look, of course Core Spreads offering looks attractive, yet you should always check the most important information of the broker’s offering. In this purpose this review covers the following highlights:

Is Core Spreads safe or a scam?

Core Spreads is a trading name of Finsa Europe Ltd, a registered company in the UK. Therefore, the broker is subject to the Financial Conduct Authority (FCA) regulation in the UK, which performs some of the strictest rules in the financial market respected worldwide. Under the rules of the Financial Conduct Authority, Finsa Europe Ltd. has a duty to conduct all business with an honest, fair and professional manner and to act in the client’s best interests.

What is more, each customer covered by the Financial Services Compensation Scheme (FSCS) under FCA rules of operation that guarantees clients’ funds up to 50,000 GBP in the unlikely event. Also, funds are always kept separately from the company’s actives, means cannot be used for operational purposes, and are kept in segregated bank accounts at Barclays that secures your account.

Trading Platforms and Tools:

As for the trading software Core Spreads offering, there is a choice between the proprietary platform CoreTrader2 or to choose known industry platform MetaTrader4. Along with this choice, the pricing strategy has been built between variable or fixed spreads which are diversified by platforms.

The CoreTrader presenting some of the lowest fixed spreads in the market with no commission while performing trading through web or application. The platform features the most important trading needs, without making confusion of numerous expensive tools, hence is fast and reliable software with rapid execution as well a great tool for spread betting clients.

The MT4 itself does not need much wording, yet at Core Spreads offering a powerful combination of some of the tightest variable spreads and a low commissions of just 1.5$ per lot for all clients, and of course a comprehensive technical solution through the platform. EAs for automated trading is allowed too, while MT4 is available through the desktop and mobile applications.

Core Spreads Fees

The company sticks not to divide their clients and to offer every client excellent conditions, while the only slight different may occur on various platforms Core Spreads operate. As has been mentioned, MT4 offers variable spreads and low commission charges, which is great for seamless trading across most traded markets. Yet, while using CoreTrader brings an offer with tight, some of the lowers spreads which are fixed. Therefore, it is a great option that you may choose between the offerings and define what fee strategy will work the best for you.

All clients at Core Spreads are treated as retail clients, however, there is an option to obtain a professional status, which requires experience and significant size of transactions. In reverse you will get a special status with numerous attractive conditions, lower costs and participation into programs.

See below typical trading fees for popular instruments, also compare Core Spreads trading fees to another popular broker HYCM.

Asset/ Pair Core Spreads spread
EUR/USD 0.6
Crude Oil WTI 3
Gold 4
BTC/USD 70

Core Spreads Leverage

As for the trading leverage conditions, Core Spreads chooses the optimal path to maximize the offering through the leverage which also complies to FCA regulation. In fact, European authorities strictly restrict leverage to a maximum of 1:30 for major currency pairs, 1:20 for minor currencies and 1:10 for commodities.

As well, newly presented by Core Spreads possibility to trade cryptocurrencies brings an opportunity to speculate cryptos with leverage 2.5:1, yet available to only professional traders.

Core Spreads Deposits and Withdrawals

Core Spreads offer for your convenience the most common payment methods while supporting options to fund and withdraw money through Cards payments, wire bank transfers and through e-wallet Skrill.

In addition, there is no minimum deposit requirement for account opening. To make a trade, you just need to deposit what is called ‘margin’, which is effectively money cover in case you lost money on the trade instead of gain. The margin needed on the account is a percentage of the notional value of the trade, sometimes this can be less than 1%.

As for the transaction fees, involving card deposits and transfers do not incur any charges from the company for both deposits and withdrawals. Yet, you should always check with your payment provider in case any fees are waived from your side.

Conclusion on Core Spreads

One of the main attractive features of Core Spreads is their spreads offering, which they have managed to provide on a competitive basis along with an option to choose either fixed or floating spreads. The company does not offer learning materials or didn’t include sophisticated tools, but brings clear and transparent trade processing.

Moreover, their strict regulation through FCA rules implies trustworthy cooperation and safety of the money you put into the trading. Overall, Core Spreads broker can be a good choice for new traders since there is no deposit requirement and fixed spread along with clear platforms and support provided.

So, the conclusion is the same as company positioning – no noise, just tight spreads on thousands of markets.

Is Core Spreads a Scam?

Is Core Spreads A Scam?

Because they were only founded in 2020, Core Spreads may not be as familiar to traders as some of the biggest CFD brokers out there. Nevertheless, this company is at the very top of the trading industry, with new traders signing up with them every day. However, if you want to be sure that you’ll be dealing with a reliable partner if you open an account here, you’re at the right place. We tested every part of the broker’s website in order to see is Core Spreads a scam or a legit broker and the results will be shown in the rest of the article. Read on and find out if these people are worthy of your time and money.

Is Core Spreads a Scam? | Regulated

The best way to start looking for clues about is Core Spreads a scam or legit is to look for a license. We have good news here because this broker is regulated by the Financial Conduct Authority (the FCA), a body in charge of controlling the financial markets in the UK and one of the strictest organizations of its kind in the world. This also means that all their clients are protected by the FSCS (Financial Services Compensation Scheme), which means that your money will be protected even if the broker ceases to exist. So, from a legal perspective at least, all necessary mechanisms seem to be in place to protect your funds if something happens to this company. But what about the company itself? Can you trust people working here? Stay tuned and find out!

Core Spreads Safety of Funds

Is Core Spreads a Scam? | Everything works fine

If a trader asks him- or herself “Is Core Spreads a scam?” the first thing they want to know is how safe their money is here. We discussed deposit and withdrawals in more detail in our Core Spreads Review 2020, but we have to say that we had absolutely no problems with money transfers. Not a single cent went missing. In addition, the broker keeps all funds in segregated accounts at Barclays Bank, one of the most respected banks in the world, so your money will always be safe. Furthermore, we have to say that the platform is simple to use, very quick and updated regularly, and only the freshest information is served to you. Finally, the support team is also excellent and you can count on them to help you out with whatever you need, which is another proof that Core Markets is perfectly legit.

Core Spreads CoreTrader

Is Core Spreads a Scam? | Conclusion

Is Core Spreads a scam? Not a chance! We saw absolutely no evidence of any kind of fraud whatsoever during our time with this company. Everything here is 100% safe and guaranteed for by the FCA. With their license, you know no problems can arise. So don’t be afraid and open an account with Core Spreads, one of the most serious and professional trading partners you can currently find in this industry.

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