How will Brexit affect my Core Spreads Account? 

We understand that you might have some questions about the upcoming changes and want to find out what your options are. So, we've put together a video and compiled a list of questions below to help you make your choice:



As a result of the United Kingdom’s exit from the European Union, Core Spreads is having to make changes in the way it deals with customers from the European Economic Area. 

 

What is happening? 

Core Spreads, as a trading name of Finsa Europe, is regulated by the Financial Conduct Authority, the UK’s financial services regulator. 

As an FCA regulated entity, Core Spreads is no longer accepting new business from European customers, and we are also advising our existing European customers that their account with us will be closing soon. 

(Customers from outside of the EEA are unaffected by this change) 

 

On 12th March at 10p.m. GMT your account will be set to closing only, and you will no longer be able to open new positions or add new orders.  

If you take no action then on Wednesday 31st March, any positions in your account will be closed at the last available price, and your funds returned to you. 

 

Do I have any other options? 

It's our priority that you continue to enjoy a seamless, uninterrupted trading experience. So we're giving you the option to open an account with our related entity, Trade Nation.  

 

So, tell me about Trade Nation.   

Trade Nation’s aim is to ensure fairness every step of the way with the highest level of customer service, whilst guaranteeing that spreads won’t widen just because markets get volatile.  

You’ll still enjoy the same fixed spreads that you’re used to, the same simple-to use CloudTrade platform (plus we offer MT4) and the same great team. 

There are some important things to be aware of: 

Trade Nation operates with a very different leverage than Core Spreads, and whilst increased leverage means you require less money to open and hold a position, this also means that both your risk and the chance of greater losses are increased. 

Show me an example of the difference in margin I can expect: 

Product 

Stake 

Core Spreads

Trade Nation Ltd 

Wall Street 30 Rolling Cash 

£1 

£1500 

£150 

 

We’ve built a very simple request form that allows you to use your existing registration with Core Spreads to open an account with Trade Nation without having to complete an application, plus we’ll even move any funds or open positions for you. 

I understand the risks and that sounds goodHow do I do this? 

  1. Simply click here, check the relevant boxes, enter your username and password, and submit the form.
    This will automatically start the process of opening your new account with Trade Nation.
  2. You’ll receive an email confirming your agreement to transfer. 
  3. Nothing more to do until you receive your “Welcome to Trade Nation” email. 

 

You will need to submit your request form before 10 p.m. GMT on Friday 12th March. 

 

What happens next? 

  • The transfer will take place over the weekend of 13th and 14th March and will be completed before markets open on Monday 15th March. 
  • All your open positions on your Core Spreads account will be closed and reopened at the same price in your Trade Nation account. This will be done using closing mid prices on Friday 12th March. 
    (Note that you will realise your profit or loss on any of your transferred positions) 
  • Your cash balance will be transferred to your Trade Nation account. 
  • You’ll then receive an email welcoming you to Trade Nation and you’ll be ready to trade. 

This all sounds great, but I’ve got some more questions….

That’s no problem. If you’ve forgotten your username, simply get in touch with our customer support team on Live Chat on the platform or on support@corespreads.com and we will be able to provide that for you.
Your money is held in segregated client accounts at Barclays Bank in London.
Trade Nation Ltd is regulated by the Securities Commission of the Bahamas.
The cash balance on your account will be moved over if you choose to open with Trade Nation. If you need to add funds at any point, the deposit process is exactly as before, and you will be able to deposit via card, bank transfer, and Skrill.
You can find the Trade Nation website by clicking here.
The platform is very similar to the one you’re used to with the same tight fixed spreads and choice of markets.
Both iPhone and android apps are now available to download.
At Trade Nation we have ‘Practice and Learn’ accounts to help you familiarise yourself with the platform, should you need to.
You’ll be automatically enrolled on our loyalty scheme and eligible for rebates on your trading activity. For more information click here 
If you submit a request, your Core Spreads account will close after your transfer has been completed. If you take no action, your Core Spreads account will close on the 31st March. 
All your trading history on your Core Spreads account is available for you on request.
You will need to fill in a Trade Nation request form for each of your accounts, so just visit our page here and complete the short checklist. 
Trade Nation offers both MT4 and spread trading accounts. Simply click here and fill in the Trade Nation account request form.  
Sure! The details of the changes to leverage, and associated minimum margin requirement percentages, are shown below:
Market Core Spreads Leverage/Margin Rate Trade Nation Leverage/Margin Rate
Major Indices 20:1          5.0% 200:1          0.5%
Major FX pairs 30:1          3.33% 200:1          0.5%
Individual Shares 5:1          20.0% 20:1          5.0%
Gold 20:1          5.0% 200:1          0.5%

 

 

Here’s an example:

Core Spreads margins:

You buy $1 Wall Street 30 Rolling Cash @ 30,250.

Our minimum margin requirement percentage on the Wall Street 30 is 5%. This is the same as leverage of 20:1

The margin is calculated as follows: $1 x 30,250 x 5/100

So, you would need to hold $1,512.50 in your account to open this position.

Trade Nation margins:

You buy $1 Wall Street 30 Rolling Cash @ 30,250.

Due to ASIC’s rule change, our minimum margin requirement on the Wall street 30 is now 0.5%, equivalent of leverage of 20:1

The margin is calculated as follows: $1 x 30,250 x 0.5/100

You now need to hold $151.25 in your account to open this position. The new deposit requirement is 10 times larger than before.

Core Spreads

Core Spreads is financial trading as it should be. No noise – just tight spreads on thousands of markets.

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