CORESPREADS RATING -OVERALL SCORE {77.2%} (?)
CoreSpreads is a FCA-regulated CFDs & Spread Betting financial firm, founded in 2014. The broker is offering simplicity, tight spreads, and a wide variety of financial instruments.
■ Deposit Requirements: 1 USD
■ Funding: Cards | Bank Wire
■ Account Currencies: EUR, GBP, USD
■ Platforms: MetaTrader-4 |Core WebTrader | Mobile Traders
■ Customer Support: English
Chart: CoreSpreads Basic Ratings (Based on ForexRating Formula 5.0)
The RatingFormula 5.0 gives a good rating as concerns safety of trader's funds and technology.
Chart: CoreSpreads Special Ratings
CORESPREADS RATING SUMMARY
The following table contains CoreSpreads's rating summary based on (i) three rating aspects, (i) three experience levels, and (iii) three trading styles.
| FOREX BROKER RATING | (MAX 100%) |
|
88.4% |
|
69.6% |
|
73.2% |
|
78.1% |
|
77.24% |
| TRADING EXPERIENCE | |
|
78.9% |
|
68.0% |
|
60.7% |
| TRADING STYLE | |
|
67.2% |
|
75.5% |
|
54.4% |
CORESPREADS DETAILED RATING REVIEW
| CORESPREADS RATING ANALYSIS | ||||
| CORESPREADS TOTAL RATING | 100.0% | CoreSpreads | ||
| 77.24% | FULL ANALYSIS | |||
| A. CORESPREADS SAFETY OF FUNDS | MAX WEIGHT→ | 28.0% | 24.74% | Rating the CoreSpreads Safety |
| A.1 CoreSpreads License / Regulation | FCA (UK) = 10.0% | FINMA (Swiss) = 10.0% | NFA/CFTC (US) = 10.0% | BAFIN (GE) = 8.0% | ASIC (AU) = 8.0% | FSC (NZ) = 6.0% | CYSEC (Cyprus) = 6.0% | HCMC (GR) = 3.0% | FSC (BVI) = 1.0% | MiFID (EU) = +0.5% rating | 10.0% | 10.00% | CoreSpreads is regulated by the FCA UK (No 525164) = 10% rating | Total =10.00% |
| A.2 CoreSpreads Client Compensation in Case of Insolvency | Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% |
5.0% | 5.00% | CoreSpreads offers client compensation (in case of insolvency) up to 50,000 GBP through FCA = 5.0% rating |
| A.3 CoreSpreads Country of Headquarters | UK, USA, Germany, France, Canada, Switzerland, and similar = 5.0% rating | Australia, New Zealand = 4.0% rating | Ireland, Spain, Italy, Cyrpus, and similar countries = 3.0% rating | Greece, Malta, South Africa = 2.0% rating | Offshore Countries = 0% | 5.0% | 5.00% | CoreSpreads maintains headquarters in the UK = 5.0% |
| A.4 CoreSpreads Years in the Market | 10+ Years of Operation = 5.0% rating | 5-10 Years of Operation = 4.0% rating | 2-5 Years of Operation = 2.0% rating | 0-2 Years of Operation = 0% | 5.0% | 2.00% | CoreSpreads was found in 2014 (2-5 years) = 4.0% rating |
| A.5 CoreSpreads Client Account Segregation | Client bank account segregation = 2.5% rating | No = 0.0% | 2.5% | 2.50% | CoreSpreads provides client bank segregated accounts = 2.5% |
| A.6 CoreSpreads Web Ratings | ForexPeaceArmy Rating = 0.5% rating | 0.5% | 0.24% | CoreSpreads ForexPeaceArmy Rating is 2.4/5.0 = 0.24% rating |
| A.7 (+) CoreSpreads ADJUSTING RESULTS | ||||
| A.7.1 CoreSpreads Corporate Size | 1 million Trading Accounts = +1.0% rating | 500,000+ Accounts = +0.5% rating | 250,000+ Accounts = +0.25% rating | 1.0% | 0.00% | CoreSpreads handles less than 250,000 accounts = 0% Rating |
| B. CORESPREADS TRANSACTION COST | MAX WEIGHT→ | 28.0% | 19.50% | Rating the CoreSpreads Transaction Cost |
| B.1 CoreSpreads spread on EURUSD | <0.3 pip = 7.0% rating | <0.4 pip = 6.5% | <0.5 pip = 6.0% | <0.6 pip = 5.5% | <0.7 pip = 5.0% | <0.8 pip = 4.5% | <1.0 pip = 4.0% | <1.25 pip = 3.5% | <1.50 pip = 3.0% | <1.75 pip = 2.5% | <2.00 pip = 2.0% | <2.25 pip = 1.5% | <2.50 pip = 1.0% | <2.75 pip = 0.5% | 7.0% | 5.00% | Typical CoreSpreads EURUSD spread is 0.7 pip = 5% rating |
| B.2 CoreSpreads spread on GBPUSD | <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating | 4.5% | 4.00% | Typical CoreSpreads GBPUSD spread is 0.9 pips = 4.0% rating |
| B.3 CoreSpreads spread on USDJPY | <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating | 4.5% | 4.00% | Typical CoreSpreads USDJPY spread is 0.9 pips = 4.0% rating |
| B.4 CoreSpreads Trade Commissions | No Commissions = 7.0% rating | Commissions < $1.0 / lot = 6% rating | < $1.5 / lot = 5% rating | < $2.0 / lot = 4% rating | < $3.0 / lot = 3% rating | < $4.0 / lot = 2.0% rating | < $5.0 / lot = 1% rating | < $6.0 / lot = 0.5% rating | Higher Commissions = 0% rating | 7.0% | 3.00% | CoreSpreads charge $3.0/lot trading commissions on the tested account type = 3.0% |
| B.5 CoreSpreads Overnight (SWAP) rates | Cost < $1.5 = 2.00% rating | Cost < $2.0 = 1.75% | Cost < $2.5 = 1.50% | Cost < $3.0 = 1.25% | Cost < $3.5 = 1.00% | Cost < $4.0 = 0.75% | Cost < $4.5 = 0.50% | Cost < $5.0 = 0.25% | 2.0% | 0.50% | CoreSpreads rollover on a Long EURUSD trade worth 1 lot ($100,000) is -$2.4 | CoreSpreads rollover on a Short EURUSD trade worth 1 lot ($100,000) is -$2.0 | Total cost in absolute value is $4.4, rating = 0.50% |
| B.6 CoreSpreads Commissions on Funding | No Funding Fees = 2.0 % rating | One (1) Free Withdrawal Per Month = 1.0 % rating | Funding Fees Without Free Withdrawal = 0 % rating | 2.0% | 2.00% | CoreSpreads does not charge withdrawal commissions = 2.0% rating |
| B.7 CoreSpreads Inactive Fees | No Inactive Fees = 1.0 % rating | Yes Inactive Fees = 0 % rating | 1.0% | 1.00% | CoreSpreads does not charge Inactive Fees = 1.0% rating |
| B.8 (+) CoreSpreads ADJUSTING RESULTS | ||||
| B.8.1 CoreSpreads Execution Model | ECN Execution = +2.0 % rating | STP = +1.5 % rating | Dealing Desk = +0.0% rating | 2.0% | 0.00% | Dealing-Desk = 0% |
| C. CORESPREADS TRADING OPTIONS | MAX WEIGHT→ | 28.0% | 20.50% | Rating the CoreSpreads Options for Traders |
| C.1 CoreSpreads Forex Asset Index | 45+ Pairs = 8.0% rating | 40+ Pairs = 7.0% rating | 35+Pairs = 6.0% rating | 30+ Pairs = 5.0% rating | 25+ Pairs = 4.0% rating | 20+ Pairs = 3.0% rating | 15+ Pairs = 2.0% rating | 10+ Pairs = 1.0% rating | Less than 10 Pairs = 0% rating | 8.0% | 6.00% | CoreSpreads Provides 39 Forex Pairs = 6.0% rating |
| C.2 CoreSpreads CFDs | CFD Trading on MT4 = 2.5% rating | CFD Trading on WebTrader = 1.5% rating | No CFDs = 0.0% | 2.5% | 2.50% | CoreSpreads offers CFD trading = 2.5% rating |
| C.3 CoreSpreads CFDs on Futures | CFDs on Futures = 1.5 % rating | No CFDs on Futures = 0.0 % rating | 1.5% | 1.50% | CoreSpreads Offers CFDs on Futures (Commodities) = 1.5% rating |
| C.4 CoreSpreads Free Practice Account | Practice Account = 2.0 % rating, No = 0.0 % rating | 2.0% | 2.00% | CoreSpreads Provides a free Demo/Practice account = 2.0% rating |
| C.5 CoreSpreads Trading Leverage | Leverage > 100:1 = 1.0% rating | Leverage > 75:1 =0.75% rating Leverage > 50:1 = 0.5% rating | 1.0% | 1.00% | 175:1 max Trading Leverage = 1.0% rating |
| C.6 CoreSpreads Bonus/Rebate Promotions | 5.0% | |||
| C.6.1 CoreSpreads Welcome Bonus (%) | Welcome Bonus >50% = 5% rating | Bonus >40% = 4% rating | Bonus >30% = 3% rating | Bonus >20% = 2% rating | Bonus >10% = 1% rating | 2.50% | 50% Welcome Bonus (Not Withdrawable) = Half points of 5.0% rating = 2.5% final rating | |
| C.6.2 CoreSpreads Trading Rebate (%) | Trading Rebate >30% = 5% rating | Rebate >25% = 4% rating | Rebate >20% = 3% rating | Rebate >15% = 2% rating | Rebate >10% = 1% rating | Rebate >5% = 0.5% rating | 0.00% | ||
| C.7 CoreSpreads Min. Account Size | Min Account < $100 = 2.00% | Min Account < $250 = 1.50% rating | Min Account < $500 = 1.00% rating | Min Account < $1,000 = 0.50% rating | 2.0% | 2.00% | The min. deposit amount is $1 = 2.0% rating |
| C.8 CoreSpreads Number of Deposit Methods | For every deposit method = 0.5% rating | max = 5 methods | 2.5% | 1.50% | CoreSpreads offers Bank Wire, Credit Cards and Debit Cards as deposit methods = 1.5% rating |
| C.9 CoreSpreads Number of Withdrawal Methods | For every withdrawal method = 0.5% rating | max = 5 methods | 2.5% | 1.50% | CoreSpreads offers Bank Wire, Credit Cards and Debit Cards = 1.5% rating |
| C.10 Minimum Stop-Order Levels (in pips) | 2 pips or less = 1% rating | 3 pips or less = 0.5% rating | 4 pips or less = 0.25% rating | 1.0% | 0.00% | CoreSpreads offers 5 pips minimum stop-out order distance = 0.0% rating |
| C.11 (+) CoreSpreads ADJUSTING RESULTS | ||||
| C.11.1 Offering more than 100 Forex Pairs | Offering more than 100 Pairs = 1.0 % rating / No = 0 % rating | 1.0% | 0.00% | 39 Forex pairs = +0% rating |
| C.11.2 Paying Interest on unused funds | Paying interest on Unused Funds = 0.50 % rating No = 0.0 % rating | 0.5% | 0.00% | No = +0% |
| C.11.3 CoreSpreads Contests | Contests = 0.25 % rating | No = 0 % rating | 0.25% | 0.00% | CoreSpreads offers no competitions = +0.00% rating |
| D. CORESPREADS TECHNOLOGY | MAX WEIGHT→ | 16.0% | 12.50% | Rating the CoreSpreads Technological Efficiency |
| D.1 CoreSpreads Trading Platforms Availability | For every Platform = 1.0% | max = three (3) platforms | 3.0% | 2.00% | CoreSpreads offers MT4 and Core Webtrader = 2.0% rating |
| D.2 Trading-On-Charts | Offering Trading-On-Charts = 1.0 rating | No=0% | 1.0% | 1.00% | CoreSpreads is offering 'Trading-On-Charts' = 1.0% rating |
| D.3 CoreSpreads Slippage on Execution | Slippage < 1.00 pip = 1.0% rating | < 1.25 pip = 0.75% rating | < 1.50 pip = 0.5% rating | < 1.75 pip = 0.25% rating | 1.0% | 0.00% | CoreSpreads Slippage on execution is over 1.75 pip = 0.0% rating |
| D.4 CoreSpreads Automated Trading Allowance | Automated Trading is Allowed = 2.0 % rating / No = 0 % rating | 2.0% | 2.00% | CoreSpreads allows automated trading = 2.0% rating |
| D.5 CoreSpreads MT4 Platform Availability | MT4 is Provided = 2.0 % rating / No = 0 % rating | 2.0% | 2.00% | CoreSpreads offers the MT4 platform = 2.0% rating |
| D.6 CoreSpreads Mobile Apps | iOs= 1% rating | Android = 1% rating | Windows Mobile is 0.5% rating | max = 2% rating points | 2.0% | 2.00% | CoreSpreads offers an MT4 App for iPhone and Android = 2.0% rating |
| D.7 CoreSpreads Allowing Scalping / Hedging | Yes, both are allowed = 1.0 % rating | Only Hedging / Scalping = 0.5% rating | Both are Forbidden = 0 % rating | 1.0% | 0.50% | CoreSpreads forbids Scalping and allows Hedging = 0.5% rating |
| D.8 CoreSpreads Customer Service | 24/7 Support = 1.0 % rating | 24/6 Support = 0.5 % rating | 24/5 Support = 0 % rating | email support = 1.0% rating | Phone support = 1.0 %. | Live Chat support = 1.0% | Skype support = 1.0 % | Forum support = 1% | Call-Back = 0.5 % rating | 4.0% | 3.00% | CoreSpreads offers 24/5 Customer support = 0%, via eMail, Phone, Live Chat = 3.0% | Total rating is 3.0% |
| D.9 (+) CoreSpreads ADJUSTING RESULTS | ||||
| D.9.1 CoreSpreads PAMM / MAM Accounts | PAMM / MAM Accounts = +0.5% rating | No = 0 % rating | 0.5% | 0.00% | CoreSpreads is not offering PAMM/MAM accounts = +0.0% |
| D.9.2 CoreSpreads Free VPS | Free VPS = +0.5% rating | No = 0 % | 0.5% | 0.00% | CoreSpreads is not offering a free VPS hosting service = +0.0% |
| D.9.3 CoreSpreads API Trading | API trading = +0.5 % rating | No API = 0.0 % rating | 0.5% | 0.00% | CoreSpreads is not offering API trading = +0.0% |
| TOTAL CORESPREADS RATING | 77.24% | |||
CORESPREADS LICENSES AND LEGAL INFORMATION
The broker belongs to Finsa Europe Ltd, a UK firm.
- CoreSpreads is the trading name of Finsa Europe Ltd (Tower Bridge Business Centre, 46 – 48 East Smithfield, London E1W 1AW)
- Finsa Europe is registered in England and Wales under number 07073413
- Finsa Europe is regulated by FCA UK (No 525164)
- CoreSpreads covers up to 50,000 GBP per client in case of corporate insolvency (FCA UK scheme)
- The broker uses Barclays Bank for holding client funds (client bank account segregation)
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