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
UFX
7.7 /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 UFX
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.

UFX is regulated by CySEC. UFX have provided Stocks, Indices and CFDs, Currencies, Commodities, ETFs trading services since 2007.

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 11 years in business
  • Yes Segregates clients funds
  • Yes Regulated by CySEC
  • 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 26 Makarios III Avenue, Mesa Geitonia, 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 49 59
Commodities Offered 9 0 16
Stocks Offered 1550 372 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 Yes Yes
FTSE Yes Yes Yes
Dow Jones Yes Yes Yes
Dax Yes Yes Yes
Nikkei No Yes Yes
ETFs No Yes Yes
IPO No No Yes
See all instruments

75% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

74.3% of retail investor accounts lose money when trading CFDs with UFX.

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 No Yes
WebTrader Yes Yes Yes
Mirror Trader No No Yes
ZuluTrade No No Yes
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms CoreTrader MassInsights AvaTradeAct, AVAOptions

APPS

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

English

Arabic, English, French, Portuguese, and Russian

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

See platform & features

75% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

74.3% of retail investor accounts lose money when trading CFDs with UFX.

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 UFX

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

75% of retail investor accounts lose money when trading CFDs with this provider

See account options

74.3% of retail investor accounts lose money when trading CFDs with UFX.

See account options

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

TRADING CONDITIONS

Scalping Yes No Yes
Hedging No Yes Yes
Expert advisors (EAs) No Yes Yes
Virtual private server No No No
Direct market access No No Yes
STP broker No Yes No
Market maker Yes Yes Yes
Min trade £1 $125 0.01 Lot
Max trade None None None
Min deposit $1 $500 $250

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

75% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

74.3% of retail investor accounts lose money when trading CFDs with UFX.

See all funding options

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

DETAILED INFO

Excluded countries DZ, BZ, IL, JO, LY, MU, SD, SY, TN, US, YE, PK, BE DZ, BZ, IL, JO, LY, MU, SD, SY, TN, US, YE, PK, BE BE,BR,NZ,US,KE,IN,GH
Contact email Send Email Send Email Send Email
Phone number 0800 862 0780 44.208.150.0778 (44) (0) 8005200423
Live Chat Yes Yes Yes
Website https://www.corespreads.com/ https://www.ufx.com/ http://www.avatrade.com/
Spreads:
EUR/USD (Average: 0.7 pips) 0.7 pips 4.0 pips 1.3 pips
GBP/USD (Average: 1.1 pips) 0.9 pips 5.0 pips 2.0 pips
USD/JPY (Average: 1.1 pips) 0.7 pips 5.0 pips 1.5 pips
AUD/USD (Average: 0.8 pips) 0.8 pips 5.0 pips 1.8 pips
USD/CHF (Average: 2.3 pips) 1.4 pips 10.0 pips 2.0 pips
USD/CAD (Average: 2.9 pips) 2.0 pips 6.0 pips 2.5 pips
NZD/USD (Average: 3.6 pips) 2.0 pips 7.0 pips 2.8 pips
EUR/GBP (Average: 2.4 pips) 0.8 pips 7.0 pips 2.0 pips
View all spreads

75% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

74.3% of retail investor accounts lose money when trading CFDs with UFX.

View all spreads

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

FEES

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

75% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

74.3% of retail investor accounts lose money when trading CFDs with UFX.

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 01/10/2019.

All information collected from https://www.ufx.com/. Last updated on 01/10/2019.

All information collected from http://www.avatrade.com/. Last updated on 01/10/2019.

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.

UFX was founded in 2007 and is regulated by CySEC. UFX is a STP broker which means they do not take opposing trades to yours, this means their success is bound by your success.
They offer fixed and stable spreads across a multitude of markets around the globe using state of the art technology, including their award winning proprietary platform. Their focus on customer service has led to a number of industry awards and can be contacted 24 hours a day Mon to Fri. UFX processes are encrypted and secure, to ensure your funds are always safe.

For more information about trading with UFX, we have put together an indepth UFX 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 UFX?

Low spreads or offers Hedging ?

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

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 Core Spreads and UFX to be equally reliable. We’ve broken down why below:

Who are they regulated by?

Core Spreads is regulated by Financial Conduct Authority, while UFX is regulated by CySEC.

As the Financial Conduct Authority are one of the most stringent regulators in the world, Core Spreads 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 UFX have been around for 12 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 UFX 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 UFX 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 UFX 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 UFX are based in 26 Makarios III Avenue, Mesa Geitonia, 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 UFX offer forex trading. UFX have a slightly larger variety of currency pairs with 49 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 UFX allow you to trade commodities like gold, silver and crude oil.

UFX 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 UFX 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. AvaTrade, 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 but doesn't allow hedging. While UFX does not allow scalping but does allow hedging. You can't trade with EAs (expert advisors) on Core Spreads but you can trade EAs (expert advisors) with UFX.

In terms of risk management tools, Core Spreads doesn't offer negative balance protection, but UFX 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 UFX 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 UFX charges 4.00 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 UFX?

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

Objectively, UFX is more reliable based on our criteria above. UFX has a wider range of instruments to trade. UFX 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.