Below is my review of Core Spreads...
Guaranteed Stop Losses
Anyone that has witnessed the extreme price movements at the release of unexpected net farm payroll figures, unexpected interest rate changes or was at their charts when the Swiss National Bank unexpectedly announced that the Swiss Franc would no longer be pegged to the Euro, should know the importance and benefits of having a broker that offers guaranteed stop losses. Core Spreads offers guaranteed stop losses. They also offer tight guaranteed stop losses, something that is very uncommon amongst spread betting brokers.
Tight Fixed Spreads
Core spreads offer very tight fixed spreads, perhaps some of the best in the industry. Some examples are the FTSE 0.8pts, the DAX 1pt, GBPUSD 0.9pts and the EURUSD 0.7pts - all fixed, even during news events.
Great Execution
Execution is quick and reliable. I have always been filled at the quoted price (no slippage) and have never had an order that has not triggered.
Varied Range of Markets
Core Spreads offer Spot Forex, Indices, Oil, Gold, Silver and a range of popular UK and US shares.
Trustworthy
I have never had an issue with deposits and withdrawals. I have also never had an issue with being stop hunted.
Loyalty Scheme
Their loyalty scheme will not provide a significant income but it is better than receiving nothing. Loyalty points are calculated by your trading volume, they can also be earned by sharing the Core Spreads site on your social media accounts. Your rebate is debited to your trading account each month.
What I don't like
Price Charts
The price charts are poor, you will need an alternative for charting.
Minimum per point value
A £1 per point minimum is offered. This can be frustrating for smaller accounts. You cannot close part positions that will bring the position size under the £1 per point either.
Overnight Charges
The overnight financing charges seems higher than other brokers that I use. This could be due to the high amount of leverage offered on their products.
Range of Markets
Even though Core Spreads have a varied range of markets, they only offer the most traded instruments within that market. The Forex pairs offered are limited compared to other brokers, metals are simply Gold and Silver and their offered commodity markets is Oil. For a day trader that focuses on just a few markets, this is not a problem. A trader that trades a range of assets may need to consider an alternative broker.
Summary
A very reliable spread betting provider that offers extremely tight fixed spreads. The broker has a lot of features, such as tight guaranteed stop losses, that make them very attractive to traders. Their charting package is poor.
To open a demo account with Core Spreads, please click here.
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