Core Spreads Broker Review: An Examination of Its Evolution and Current Standing

An in-depth analysis of Core Spreads, its transformation into Trade Nation, and the ensuing implications for traders.

Established in 2014, Core Spreads emerged as a UK-based brokerage firm, offering services in forex, contracts for difference (CFDs), and spread betting. The company garnered attention for its competitive spreads and user-friendly platforms, aiming to cater to both novice and experienced traders. However, in November 2019, Core Spreads underwent a significant rebranding, adopting the name Trade Nation. This move was intended to refresh the brand and strengthen its market position. The rebranding aimed to expand the company’s reach and diversify its offerings, reflecting a new approach to its services.

Rebranding to Trade Nation

The transition from Core Spreads to Trade Nation was more than a mere name change. While Core Spreads was associated with tight spreads and limited to spread betting and CFD trading, Trade Nation positioned itself as a more versatile and modern platform. This allowed the company to attract a wider range of traders, from experienced professionals to beginners. The new name emphasizes accessibility and transparency—key qualities for clients seeking a reliable broker today. The rebranding also facilitated more effective promotion in international markets, where the name “Trade Nation” has broader appeal and reflects the company’s global ambitions. Overall, this step aimed to increase competitiveness, expand opportunities for clients, and improve the company’s perception in the online trading world.

Regulatory Status and Concerns

Despite its initial establishment in the UK and regulation by the Financial Conduct Authority (FCA), recent reports have raised concerns about Core Spreads’ regulatory status. Notably, the FCA has identified Core Spreads as a suspicious clone, suggesting it may be imitating a legitimate FCA-regulated firm. This classification raises significant questions about the broker’s legitimacy and adherence to regulatory standards.

Client Experiences and Allegations

Numerous clients have reported challenges when dealing with Core Spreads, particularly concerning fund withdrawals. Issues such as significant delays, high withdrawal fees, and even refusals to process withdrawal requests have been highlighted. Additionally, users have reported frequent platform crashes and slow execution times, which can severely impact trading performance. There are also allegations of unauthorized account closures, unresponsive customer service, and misleading information about trading conditions. These reports suggest systemic issues within the company that potential investors should not ignore. 

Trading Platforms and Conditions

Core Spreads offered two primary trading platforms:

• CoreTrader: A proprietary platform designed to provide low-cost trading with sharp execution.
• MetaTrader 4 (MT4): A widely recognized platform in the forex industry, granting traders access to market-leading floating spreads and offering lower commissions.

The broker advertised competitive spreads, with some instruments offering spreads as low as 0.6 pips on EUR/USD. However, it is important to note that commissions were also applied, such as $1.50 per lot traded, which could add to the overall trading costs.

Current Status and Conclusion

As of the latest available information, Core Spreads’ official website is inactive, and the company has rebranded as Trade Nation. The rebranding aimed to expand the company’s reach and diversify its offerings, reflecting a new approach to its services. While the rebranding may have been intended to improve the company’s image and market position, concerns raised about its regulatory status and client experiences should not be overlooked. Potential investors are advised to exercise caution and conduct thorough due diligence before engaging with the broker.