CORE SPREADS Forex Broker

Note: Core Spreads' official site - https://corespreads.com/cn is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Core Spreads Review Summary Founded 2014 Registered Country/Region United Kingdom Regulation FCA (Suspicious Clone) Market Instruments Forex currency pairs, indices, gold, silver, stocks, and commodities Demo Account N/A Leverage 1:30 (Maximum) Spread 0.6 pips (EUR/USD) Commission $1.5 per lot Trading Platform CoreTrader/MT4 Minimum Deposit $0 Customer Support Tel: +44 203 475 4830, Email: support@corespreads.com, Social Media: Facebook, Twitter, LinkedIn Company Address Floor 6, 14 Bonhill Street, London, EC2A 4BX What is Core Spreads？ Core Spreads is a broker founded in 2014 and is registered in the United Kingdom. However, its regulatory license is identified as a suspicious clone by the Financial Conduct Authority (FCA), suggesting it imitates a legitimate, FCA-regulated firm. Further adding to its questionable presence, it currently does not provide any accessible website for users or potential clients to verify its services or credentials. Pros & Cons Pros Cons Low Spreads Suspicious Clone Regulatory License No Minimum Deposit Low Leverage Commission Charged Dead Website Pros: Low Spreads: Core Spreads offers competitive spreads, with as low as 0.6 pips on EUR/USD, which can potentially save traders on trading costs. No Minimum Deposit: The broker allows traders to start trading with no minimum deposit requirement, making it accessible to a wide range of investors, including those with smaller capital. Cons: Suspicious Clone Regulatory License: There are concerns about the legitimacy of Core Spreads' regulatory license, with reports indicating a clone license from the Financial Conduct Authority (FCA), raising doubts about the broker's regulatory compliance. Low Leverage: The maximum leverage offered by Core Spreads is limited to 1:30, which is insufficient for traders seeking higher leverage opportunities to amplify their trading positions. Commission Charged: Core Spreads imposes a commission of $1.5 per lot traded, which adds to the overall trading costs for clients, particularly for those who execute a high volume of trades. Dead Website: The broker's website appears to be inactive or inaccessible, hindering potential clients' ability to obtain essential information about the broker's services, trading conditions, and account features. Is Core Spreads Safe or Scam？ Regulatory Sight: The regulatory sight of Core Spreads raises concerns due to its current status as a “Suspicious Clone” with the Financial Conduct Authority (FCA) in the United Kingdom. While the broker holds a license labeled as Market Making (MM) with license number 525164, it is classified as a suspicious clone, suggesting potential issues regarding its regulatory compliance and legitimacy. User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums. Security Measures: So far we haven't found any information about the security measures for this broker. Market Instruments Core Spreads provides a diverse range of market instruments to cater to various trading preferences. These include: Forex Currency Pairs: Major, minor, and exotic currency pairs, allowing traders to participate in the foreign exchange market. Indices: Popular stock market indices from around the world, providing exposure to the performance of global equity markets. Gold and Silver: Precious metals commonly traded as safe-haven assets and for portfolio diversification. Stocks: Shares of publicly listed companies across different sectors and industries. Commodities: Raw materials such as oil, natural gas, agricultural products, and more, offering opportunities for trading based on supply and demand dynamics. Leverage Core Spreads offers varying leverage levels depending on the asset class being traded: Major Forex Pairs: Maximum leverage of 1:30, allowing traders to control positions worth up to 30 times their trading account balance. Minor Forex Pairs: Maximum leverage of 1:20, providing slightly lower leverage compared to major pairs. Commodities: Maximum leverage of 1:10, allowing traders to amplify their exposure to commodity markets while managing risk. Spreads & Commissions Core Spreads offers users different spreads for different market instruments, starting from 0.3 pips. Instruments Types Spreads Commissions EURUSD From 0.6 pips N/A AUDUSD EURGBP From 1.2 pips GBPAUD From 2.2 pips Australian 200 Index (AUS200) From 1 pip Germany 30 Index No UK Crude Oil (Brent) From 3.5 pips N/A US Crude Oil (WTI) Gold (XAUUSD) From 0.3 pips 1.25 EUR / 1.40 EUR / 1.5 USD Silver (XAGUSD) The lowest spreads provided by Core Spreads start from 0.3 pips for XAUUSD and XAGUSD, but a commission of 1.25 EUR / 1.40 EUR / 1.5 USD per lot is charged. GBPAUD provides the highest spreads starting from 2.2 pips. No Commission is charged for trading Germany 30 Index. The commissions of other instruments are not mentioned, however, users should be cautious about the hidden fees. Trading PlatformCoreTrader: CoreTrader is the spread trading platform offered by Core Spreads. It is designed to provide low-cost trading with sharp execution. This platform equips traders with all the necessary tools to manage risk accurately, enhancing their trading experience. Core MT4: Core MT4 is based on the MetaTrader 4 (MT4) platform, which is widely recognized as a leading forex trading platform in the industry. It grants traders access to market-leading floating spreads and offers lower commissions, providing them with efficient and reliable trading functionality. Customer Support Telephone: Traders can reach Core Spreads via phone at +44 203 475 4830 for direct assistance with their inquiries or issues. Email: The company provides email support at support@corespreads.com, allowing traders to communicate their queries and concerns in writing for a detailed response. Social Media: Core Spreads maintains an active presence on popular social media platforms such as Facebook (https://www.facebook.com/corespreads), Twitter(https://twitter.com/corespreads), and LinkedIn (https://www.linkedin.com/company/core-spreads/). Traders can engage with the company through these channels, receive updates, and reach out for support or assistance. Company Address: The physical address of Core Spreads is located at Floor 6, 14 Bonhill Street, London, EC2A 4BX. Traders can visit the office for face-to-face assistance or meetings if necessary. Conclusion Core Spreads presents itself as a broker with competitive trading conditions, offering traders access to various market instruments. However, its legitimacy is questionable due to a suspicious clone regulatory license identified, and its inactive website further adds to the concerns about transparency and reliability. We do not recommend users to trade with this broker. Frequently Asked Questions (FAQs) Q: What is the maximum leverage offered by Core Spreads？ A: Core Spreads provides a maximum leverage of 1:30. Q: What trading platforms are available at Core Spreads？ A: Core Spreads offers two trading platforms: CoreTrader, which is their proprietary spread trading platform, and Core MT4, based on the popular MetaTrader 4 platform. Q: Is Core Spreads regulated？ A: Core Spreads is registered in the United Kingdom, but its regulatory license is labeled as a suspicious clone by the Financial Conduct Authority (FCA). Q: What is the minimum deposit requirement for Core Spreads？ A: Core Spreads does not have a minimum deposit requirement, allowing traders to start trading with any amount they prefer. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.