TradeNation (CoreSpreads)

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Core Spreads review

Please note that Core Spreads has rebranded to Trade Nation.

Just to clarify, nothing really changes – same owner / senior management / staff / platform / spreads / margin / charts and same regulatory licenses. The only thing that changes is the company name and the colour (to orange!). To confirm; they will maintain the following licences;

  • The Financial Conduct Authority (FCA) in the UK
  • The Australian Securities and Investments Commission (ASIC) in Australia
  • And the Securities Commission of The Bahamas (SCB)
Core Spreads Broker review

Core Spreads / Trade Nation broker review.

If you are looking for a simple platform with fixed spreads then this broker will be for you. Whether you use their web based fixed spread account or their tight variable spreads on an MT4 account it is still a good offering.

Account type: Spreadbetting (CFD’s if MT4)

Markets: Forex, US shares, UK shares, commodities

Category: Market Maker

Status : All traders

Website : www.corespreads.com

Regulation: FSCA, ASIC, FCA, SCB

About Core Spreads / Trade Nation

Core Spreads is a no thrills spread betting company. They set their focus on; Price (fixed spreads if you use their web platform); Technology, they opted for speed over bells and whistles; And customer service.

Their spreads are amongst the lowest you will get out there and their execution is excellent. They do offer an MT4 option but this comes with variable spreads and although still fast, will not be quite as quick for day traders trying to get an edge.

Additional leverage

For those seeking leverage greater than the 30:1 now thrust upon traders in the UK there is an option where you can still get up to 200:1. This involves using the links I have provided on this web page which will set you up an account with their South African office. All client monies are still held by Barclays in London and are ring fenced in accordance with FCA regulation.

The Platform

You would not be selecting this broker if you want an all singing and dancing trading platform. It is very basic but very fast which is there aim. It is ideal for beginners and regular traders.

It is easier enough to work around. I think that the lack of distractions on a brokerage is a good thing. You can find all the data elsewhere if you are that way inclined.

You can hedge on the platform, so you can use it for both day trading and swing trading. Just remember to click on the hedge option on the deal ticket if you wish to do this.

After doing my initial review on the platform I discovered how to set up your own watch list. Note that the full platform does not show up when you view it on a web page, you need to scroll to the right.

The Charts

The charts are not flash but are simple and basic with the added functionality of being able to trade directly from them. It would be nicer if you could actually see where your entry is and your stops and targets are on the chart but this is no game changer.

You can always opt for the Core MT4 option if you prefer the functionality of this but you will lose out on the fixed spreads.

Key data

Spreads*:

  • EUR/USD 0.6
  • GBP/USD 0.8
  • USD/JPY 0.7
  • AUD/USD 1.1
  • USD/CAD 0.9
  • AUD/CAD 1.4
  • GBP/JPY  2.4

*These spreads were taken from the demo account on 14th April. These may be higher in the current market conditions.

You can download their full spread list for both the fixed web platform and the spread and fees for the MT4 platform from the links below.

Opening an account

If you opt to use an MT4 account the spreads are variable. If you are happy using their simple web platform then you can get the fixed spreads.

As with most brokers these days opening an account is quite simple and can usually done and funded in less than a day.

Risk warning

Financial spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

You can read more about risk by clicking here. We strongly recommend that you fully understand the risk in trading before opening an account with any broker.