OUR BUSINESS MODEL
We’re different because we’re unbundling financial trading and making it cheaper to trade.
In areas like real time news and market data we recognise we can’t be the best or the quickest, for example, specialists like Bloomberg, Reuters and The FT are much better at real time financial news than we could ever be.
It’s not for us to tell traders how to get their edge. So gone are the ‘free’ add-ons you already have or don’t need. Gone is the noise.
Instead, we have a streamlined business model, allowing us to offer permanently tight, fixed spreads and noise-free trading.
What this means is that, while other providers may be able to match our tight spreads for a short period, they won’t be able to do it in the long-term. They just aren’t set up for it – they have too much legacy, too many add ons, too much noise.
If you know your edge and you want a fast, reliable, well regulated way to execute trades at tight spreads, we’re your people.
In the UK we are subject to some of the tightest client money rules in the world. By default (and unless agreed in writing with us), we classify all clients as Retail Clients, the classification that affords our clients the highest level of protection.
We hold your money in ring-fenced, segregated bank accounts at Barclays. These accounts are separate from Core Spreads’ money and can never be used for operational expenses, hedging or any purpose not directly related to your account with us.
We have purposely sought matched principal regulatory permissions. We pass all principal risk to market counterparties. This means your funds are held in an entity that doesn’t take principal risk, a subtle but important benefit when compared to how some of our competitors work.
When you become a Core Spreads client you are covered by the UK’s Financial Services Compensation Scheme, which guarantees your funds up to £50,000 in the very unlikely event we go out of business and there was a shortfall in the segregation.
If the bank holding your funds goes into default, you are covered up to £75,000. The scheme is set up primarily to cover individuals, so do check the FSCS website if you have any questions about your eligibility.
TIGHT, FIXED SPREADS
We charge less, so you can trade for less. Tight spreads across thousands of markets.
Transparent spreads and commissions – fixed spreads give clear costs of trading.
Unbundled business model – the essentials done superbly.
If you know your edge, much of what spread betting firms offer are just distractions that generate noise and cost money to provide. Because we’ve done away with them, we can offer some of the most competitive spreads around. And not as opening offers or discounts, but permanently.
Bring your edge to Core Spreads and trade for less.
The Core Spreads Loyalty Scheme rewards traders that trade with us and who help us grow. You earn Core Points and at the end of the month your total determines your spread or commission rebate % in the following month.
Each month end we look at how many Core Points you have; that will determine where you sit in our rebate ladder. This is the rebate % (or discount) you will receive on your next month’s total spread or commission. Once verified the cash rebate is paid into your account and it’s unrestricted, which means you can trade with it or withdraw it as you wish
We know traders don’t trade all the time so Core Points don’t disappear after a month, they roll forward, reducing by a third each month following the month they are earned.
When you become a client you are enrolled automatically in our Loyalty scheme, for CoreTrader accounts you can generate Core Points on the spread you trade, for Core MT4 accounts on the commission. If you want to earn Core Points for interacting with us on social media you need to tell us your Twitter handle and Facebook name. You can do this as well as monitor your Core Points balance, see what rebate level you’re currently on, what rebate level you are in line for next month and check out Core Points statements all through the Rewards section of the CoreTrader trading platform or in the client portal.
There is no commission on spread bets. We quote a fixed spread on all index, FX and commodity spread bets. The midpoint of the bet is derived from real-time feeds of a security’s market price. Our spreads are some of the tightest in the industry – so you can trade for less.
For all equity spread bets the bid-offer you are quoted includes all charges. On UK and EU equities, we charge a fixed % spread and on US equities 2 cents around the underlying bid-offer. The underlying spread on an equity is driven by the market. Individual equity charges are detailed in our market information section and on the trading platform.
FX, gold and silver markets are quoted clean (commission not included in the spread). For FX, gold and silver you will be charged commission of £1.00, €1.30 or $1.50 per lot per leg. MT4 bundles both the opening and closing commissions onto the opening leg of a transaction.
For equities the spread is included in the price quoted, for UK and EU equities it is 0.05% (5bps) per leg and for US shares its 2 cents per leg.
There are no commission charges for softs, other metals and oil markets.
OVERNIGHT FINANCING AND SWAPS CHARGES
We charge traders an overnight funding charge, also known as a swaps charge, on daily bets and CFD cash markets. As at 10pm UK time any open positions are charged. Our funding rates are based on the relevant interbank lending rate. For the majority of GBP trades this will be 2.5% ± 1 month LIBOR.
- If an index, equity or commodity position is long, we charge 1 month LIBOR plus 2.5%. If it is short, we pay 1 month LIBOR and charge 2.5%.
- For FX, the trader receives the interest of the long currency and pays the interest of the short currency and then pays 2.5%.
- For all bets on futures and forwards, the cost of financing is incorporated in the spread and daily funding on these instruments will not be charged.
When you deposit or withdraw with us we don’t charge (T&C’s apply).
Legal Name: Core Spreads Ltd
Operational Since: 2014
Domiciled Country: United Kingdom
Headquarters City: London
International Offices: N/A
Monthly Volume In USD: Undisclosed
Number Of Liquidity Providers: 4
Managed Account Services: Yes
Markets/Instraments: Forex, Equities, Commodities, Indices
Parent/Subsidiary/Affiliations: Trading name of Finsa Europe Ltd
Broker Type: STP
Account Types: Standard, Mini on request
MAM/PAMM Accounts: No
Min. Deposit: $/£/€ 0
Minimum lot size: 0.0001 lot
Max Leverage: 1:200 (to change to 500:1 soon)
Spread type: Variable (fixed on spread betting platform, variable on our MT4 platform)
Execution Type: Instant
Payment options:Bank Wire, Skrill, Debit/Visa/Master Cards,
Withdrawal options: Same as deposited
Accept US clients: No
Currency Pairs Total: 40
Trading platforms: Metatrader 4 CoreTrader2 (spread betting)
Commission Fees: £1/ €1.30/ $1.50 per lot per leg
News Trading: Yes
Mirror/Social Trading: No
Expert Advisors: Yes
Swap Free: No
API support: No
OCO Orders: No