Account type: Spreadbetting
Markets: Forex, US shares, UK shares, commodities
Category: Market Maker
Status : All traders
Website : www.corespreads.co.za
Regulation: FSCA, ASIC, FCA
About the broker
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.
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
As already mentioned 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 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.
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.
Opening an account
Opening an account with this broker is simple. You will need to provide proof of address and identity (Passport).
Just click here or click on the logo to open an account.
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.