Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

Core Spreads
7.3 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT CORE SPREADS
IronFX
8.6 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT IRONFX
AvaTrade
9.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT AVATRADE
About

Core Spreads is regulated by the Financial Conduct Authority. Core Spreads have provided Forex trading services since 2014.

IronFX is regulated by CySEC. IronFX have provided Forex trading services since 2010.

AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006.

Why choose them?
  • Yes Over 4 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 8 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC and ASIC
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
Headquarters London, UK Limassol, Cyprus Dublin, Ireland

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting Yes No Yes
Social Trading No Yes Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 30 120 59
Commodities Offered 9 0 16
Stocks Offered 1550 101 99
Bitcoin Yes Yes Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No No No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals No No Yes
FTSE Yes Yes Yes
Dow Jones Yes No Yes
Dax Yes Yes Yes
Nikkei No No Yes
ETFs No No Yes
IPO No No Yes
See all instruments

66.6% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

73.26% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

71% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No No Yes
MT4 Mac No Yes Yes
WebTrader Yes Yes Yes
Mirror Trader No Yes Yes
ZuluTrade No No Yes
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms CoreTrader No AvaTradeAct, AVAOptions

APPS

iOS image Yes Yes Yes
Android image No Yes Yes
Windows image No No No
Available Languages

English

English, Bulgarian, Chinese, French, German, Greek, Hebrew, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Romanian, Russian, Spanish, Thai, Vietnamese, Arabic, Bengali, Urdu, Czech, Farsi, and Slovak

English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch

See platform & features

66.6% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

73.26% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

71% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Core Spreads and IronFX

Demo account Yes Yes Yes
Mini account No Yes Yes
Micro account Yes Yes Yes
Standard account Yes Yes Yes
ECN Account No Yes No
Islamic account No Yes Yes
Zero spread account No Yes No
VIP account No Yes Yes
Fixed spreads Yes Yes Yes
Variable spreads Yes Yes Yes
See account options

66.6% of retail investor accounts lose money when trading CFDs with this provider

See account options

73.26% of retail investor accounts lose money when trading CFDs with this provider

See account options

71% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) No Yes Yes
Virtual private server No Yes No
Direct market access No Yes Yes
STP broker No Yes No
Market maker Yes Yes Yes
Min trade £0.50 0.01 Lot 0.01 Lot
Max trade None None None
Min deposit $1 $500 $100

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts No Yes Yes
Signal trading No Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller No Yes Yes
Skrill Yes No Yes
Payment processing time Varies Varies Varies
Withdrawal processing time Varies Varies Varies
See all funding options

66.6% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

73.26% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

71% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US, IR, CU, SD, SY, KR US, IR, CU, SD, SY, KR BE,BR,NZ,US,KE,IN,GH
Contact email Send Email Send Email Send Email
Phone number 0800 862 0780 44(0) 203 282 7777 (44) (0) 8005200423
Live Chat Yes Yes Yes
Website https://www.corespreads.com/ www.ironfx.com http://www.avatrade.com/
Spreads:
EUR/USD (Average: 0.7 pips) 0.6 pips Not offered 0.9 pips
GBP/USD (Average: 1.1 pips) 0.8 pips Not offered 1.6 pips
USD/JPY (Average: 1.1 pips) 0.7 pips Not offered 1.1 pips
AUD/USD (Average: 0.8 pips) 0.8 pips Not offered 1.1 pips
USD/CHF (Average: 2.3 pips) 1.4 pips Not offered 1.6 pips
USD/CAD (Average: 2.9 pips) 0.9 pips Not offered 2.0 pips
NZD/USD (Average: 3.6 pips) 1.8 pips Not offered 1.8 pips
EUR/GBP (Average: 2.4 pips) 0.6 pips Not offered 1.5 pips
View all spreads

66.6% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

73.26% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

71% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee No No No
Commission $1.50/lot/leg No No
Deposit Fee No No No
Withdrawal Fee No Varies No
View All Fees

66.6% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

73.26% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

71% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from https://www.corespreads.com/. Last updated on 01/12/2019.

All information collected from www.ironfx.com. Last updated on 01/12/2019.

All information collected from http://www.avatrade.com/. Last updated on 01/12/2019.

Company

Core Spreads is an online trading service provider who are regulated by the Financial Conduct Authority. To open an account with Core Spreads, minimum deposits start from £/$/10.

With Core Spreads you can trade Currencies, stocks, commodities, indices. If you like to trade on the go, Core Spreads have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

Core Spreads offer their user friendly CoreTrader and the popular MT4 platforms to make your trades and also offer customer support in English.

The spreads offered by Core Spreads for the most popular instruments are:
0.7 EUR/USD 0.8 FTSE 100 0.4 GOLD
0.9 GBP/USD 1.0 DOW/JONES 3.0 Crude Oil
See all spreads

For more information about trading with Core Spreads, we have put together an indepth Core Spreads review with all the pros and cons about this broker.

Founded in 2010, IronFX is considered to be one of the leading online Forex trading platforms. The first primary benefit of this firm is that more than 60 offices are located around the world and 45 different languages are spoken. IronFX is seen as one of the most versatile Forex portals, arising from the fact that numerous trading platforms are available. These include their own proprietary Web Trader system, the respected Meta Trader 4, A Personal Multiple Account manager (PMAM) and a multiple terminal system for those who wish to oversee several trading accounts within a single screen.

For more information about trading with IronFX, we have put together an indepth IronFX review with all the pros and cons about this broker.

Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins.

For more information about trading with AvaTrade, we have put together an indepth AvaTrade review with the pros and cons about this broker.

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Core Spreads or IronFX?

Low spreads or ECN execution?

If you’re a trader looking for a broker with low spreads on popular instruments like EUR/USD, Core Spreads is likely a better option. However, if you want a broker with ECN execution, IronFX may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider IronFX to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

Core Spreads is regulated by Financial Conduct Authority, while IronFX is regulated by Financial Conduct Authority, CySEC and ASIC.

As the Financial Conduct Authority are one of the most stringent regulators in the world, both Core Spreads and IronFX will have very strict guidelines to follow to ensure they protect their retail trader clients.

AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

Core Spreads has been around for 5 years, while IronFX have been around for 9 years. Our third alternative broker, AvaTrade, have been around for 13 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both Core Spreads and IronFX use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on Core Spreads or IronFX in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both Core Spreads and IronFX are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Core Spreads are based in London, UK, while IronFX are based in Limassol, Cyprus .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Core Spreads and IronFX offer forex trading. IronFX have a slightly larger variety of currency pairs with 120 pairs, compared to 30 offered by Core Spreads. Also, if you’re looking to trade cryptocurrencies, Core Spreads offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both Core Spreads and IronFX allow you to trade commodities like gold, silver and crude oil.

IronFX also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both Core Spreads and IronFX offer this. Our alternative broker, AvaTrade, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. IronFX, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

Core Spreads does allow scalping and hedging. While IronFX also allows scalping and hedging. You can't trade with EAs (expert advisors) on Core Spreads but you can trade EAs (expert advisors) with IronFX.

In terms of risk management tools, Core Spreads doesn't offer negative balance protection, but IronFX does. Negative balance protection prevents you owing your broker more than you’ve deposited.

Core Spreads also offer stop losses and limit orders to help you automate aspects of your trading strategy.

Core Spreads accept Skrill while IronFX accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, Core Spreads charges 0.70 points, while IronFX charges 1.00 points. Therefore, Core Spreads is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: Core Spreads or IronFX?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, IronFX is more reliable based on our criteria above. IronFX has a wider range of instruments to trade. IronFX offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.