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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